Business Strategy, Vision And Mission Of Barclays

Organisations today find themselves operating in an environment that is changing rapidly. The process of analysing the implications of these changes and modifying the way that the organisation reacts to them is known as business strategy.

the internal analysis of the firm and the external analysis of the industry and competitive environment

The third step to follow would be performing an analysis in formulating strategies to reach the company’s objectives. This will help Liz to comprehend the task of reaching the objectives. In preparing a strategy, it will include defining and assessing alternatives that will support the company’s objectives and selecting the top alternative. In this evaluation process the company will be able to define their customers and their needs. Then comes the SWOT Analysis, which is the assessment of the internal and external environment. The company will head in the right direction if it can identify its opportunities and threats. With the results of the SWOT analysis, Liz will be able to alter internal strengths and weaknesses.

There are a variety of different assessment tools that are utilized by organizational leadership to scan remote external factors of their company, i.e. Porter's Five

The assessment of internal factors analyze inside the physical confines of the organization. These factors are within the control of the organization. The internal assessment considers plan implementation, structure, culture, innovation, diversity, ethics, processes and technology. All of the factors can have a grave impact on the success of an organization. This is why the planning function of management is so important. Technology is rapidly changing, and for a business to succeed it must change with the time to adapt to

Built with the history of over 200 years, the company has been always there for its clients and communities, be it good or bad times. The company follows certain principles – and they are not necessarily in any order of importance. It believes that it will reach its goal of becoming the best financial services company in the world by adhering to the guiding principles. Below are certain principles that serve as a roadmap on how and why the company make its decisions.

Identify elements of the external environment and internal resources of the firm to analyze before formulating a strategy.

This is the assessment of their current performance and other internal and external factors to project their operations in the short term.

In today’s highly competitive market, the continuous changes that are occurring in the social, politic and economic environment create serious challenges in the corporate world. Corporations cannot afford to do business as usual if they want to remain in the game and be successful. In order to achieve their goals and objectives, they need to evolve, adapt, learn and apply different new strategies that will help them secure long-run success and performance. Among those strategies, we are going to discuss ten of them and their advantages in connection with corporation’s goals and objectives.

Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities as well as emerging market conditions and opportunities. This process begins with a clear company mission statement. However, this is only a small piece of a dynamic and perpetual process. Other activities involved with strategic planning also include setting supporting organizational objectives, designing a sound product mix as well as coordinating functional strategies. Strategic planning works to set the groundwork for the rest of the subsidiary planning functions in the company.

Business Dictionary defines internal analysis as “a review of an organization’s strengths and weaknesses that focus on those factors within its domain” (2014). Conducting an internal analysis allows organizations to adapt and change the way they conduct business in order to remain competitive. Internal analysis obtains information from financials, operational and marketing departments to help management determine strategic planning for future growth. In this paper the author will discuss an internal analysis of Kraft Foods.

Secondly, the author highlights the way how business entities can achieve sustainable competitive edge through improving strategic planning practices in a fundamental manner. It has to be acknowledged that one and half decade has passed since the publication of the article and the principles outlined in the article are not revolutionary by today’s standards, however, there are solid reasons to believe that the article has contributed to the emergence of companies with revolutionary approach to business.

Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy (Armstrong, 1986). In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action. Generally, strategic planning deals with at least one of three key questions:

“Competitive strategy involves positioning a business to maximize the value of the capabilities that distinguish it from its competitor’s” (Porter 1980:47). A successful business plan requires first and foremost the formation of an appropriate strategy. Through the implementation of a suitable strategy, the company is able to obtain its own industry niche and gain an understanding of its customers (Porter 1985). Whichever strategy is adopted it must be adequately integrated within the firms goals and missions to achieve a competitive advantage (Parker and Helms 1992).

Strategic Planning set the stage for the rest of the planning in the firm. It involves defining a clear company mission, setting supporting company objectives, designing a sound business portfolio and coordinating functional strategies. At corporate level the company first defines its overall purpose and mission.