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Home Solutions 1.1 Plan the development of the mission statement, vision statement, objectives, goals, business core competencies and explain their importance to the stakeholders
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Learning outcomes
On successful completion of
this unit you will:
Assessment Criteria:
LO1
Understand the process of
strategic planning
1.1 Plan the development of the mission statement, vision statement, objectives, goals, business core competencies and explain their importance to the stakeholders
1.2 review the issues involved in strategic planning
1.3 explain different planning techniques
LO2
Be able to formulate a new strategy
2.1 Conduct an audit for the business and report on the findings
2.2 carry out an environmental audit for the business and report on the findings
2.3 explain the significance of stakeholder analysis
LO3
Understand approaches to
strategy evaluation and
selection
3.1 analyse possible alternative strategies relating to
substantive growth, limited growth or retrenchment
3.2 select an appropriate future strategy for the business
3.3 prepare a business presentation using suitable software and techniques to disseminate information effectively
3.4 produce a formal business report
LO4
Understand how to
implement a chosen strategy
4.1 compare the roles and responsibilities for strategy
implementation
4.2 evaluate resource requirements to implement a new
strategy for the Business
4.3 discuss targets and timescales for achievement
to monitor the said strategy.
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