Business Strategy Essay Example | Topics and Well Written Essays - 2250 words - 1

Business Strategy - Essay Example The product chosen to make the strategic plan is the True Call. The first step is to perform an external analysis of the True Call Ltd. The analysis of the external environment consists of both domestic and global environments of the company. Only a sufficient analysis of the external environment of the business can aid in the strategic positioning of the organization. This also helps in identifying the firm’s stakeholders as well as taking strategic decisions. Strategic planning is a procedure that involves preparing a report of the company’s most important goals, the execution of plans to accomplish them, the evaluation of development as well as the continuous revision of objectives and schedules. This strategic plan serves to build up the operational? financial and strategic focus for True Call Ltd. The plan also addresses many of the opportunities and challenges at the present. As a tool of management, a strategic plan should be developed according to the requiremen ts of the organization that it stands for. Representatives from each department in the organization must participate in the process of strategic planning. If possible, stakeholders and customers can also be made an integral element of the planning activities. When each person participates in the planning phase, the execution of the strategic plan turns out to be less of a challenge. ... The external analysis of True Call Ltd consists of identifying its opportunities and threats. The opportunities and threats to the organization are considered to be a major part of external analysis. These elements exist outside the realm and also depend on forces beyond the control of the company. â€Å"An environmental analysis evaluates internal and external factors impacting an organization's performance, especially its marketing effort† (In Business What is the Environmental Analysis? 2003). Some citizens screen all of their telephone calls? as they prefer to direct all callers to their answering machine, pay attention to the message being said, and only then attend if it is someone they desire to talk to. True Call facility is comparatively better than this. For strategic planning? it is significant to carry out an analysis of the external environment, to identify the internal strengths or core resources of the organization, to assess the organization’s present st rategic choices as well as to select a best strategy that suits the organization. â€Å"Steve Smith and John Price, the Directors of true Call Ltd, have been working in the field of nuisance call control since 1999† (Response to the Consultation by ofcom on Tackling Abandoned and Silent Calls 1st June 2010, 2010). True Call gives a choice of facilities to keep messages secure and private? External environment analysis of the True Call is used to examine the opportunities and threats of this product. Opportunities: â€Å"TrueCAL-MAG is a special chelate complex of 6 sources of calcium with magnesium and other ingredients to assist the body in maintaining healthy bone structure. Calcium is a primary mineral for building the strong structure of bones and teeth† (TrueCal- MAG: Keep