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Essay on Business Strategy Analysis

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-------------------------------------------------------------------------------------- Business Strategy UNIT 7 TUTOR: ======================================= Word Count: 5,432 Md Mominul Islam Plabon Student ID – LCC20090493 HND (Business) Contents P 1 3 P 2 5 P 3 7 P 4 8 P 5 10 P 6 15 P 7 17 P 8 19 P 9 20 P 10 22 P 11 23 Reference list 25 P 1 According to Kourdi (2009) ‘Business strategy is the set of activities where business combines mission, vision and goals of business and goes forward to achieve them’. Every business combines strategic plan and activities to achieve their goals. In other aspect it can be said business strategy is the subject by which an organisation make their roadmap…show more content…
* Use of latest technology P 2 Stakeholders are the group or number of people who are directly or indirectly related to a particular business. Stakeholders can be directors, customers, employees, government, agencies, owners, suppliers, unions and the community from which the business draws its resources (Campbell, 2002). However, stakeholders are a crucial part for the success of business. If an organisation knows it’s stakeholder, then it can determine where, there is prospect for business and also by analysing stakeholders, business can set its operational activities (Graham, 2005). However, stakeholder analysis can be successful if stakeholder mapping is done by selecting the appropriate stakeholder at correct stage. Stakeholder mapping consists two axis, whereas horizontal axis reveals the level of interest an individual has in the organisation and level of importance business will put on them. In contrast, vertical axis shows the level of influence or power an organisation has in the organisation. Source: (Stakeholdermap, 2011) High Influence, High Interest: they are loyal to the particular business, so organisations always want to keep relationship with them and also give them high priority. In most cases business arranges meeting for them (stakeholdermap, 2011) High influence, low
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