Importance of Strategic Planning for an Organisation - Business Assessment Answer

Business Assessment Task

Task 1

This task constitutes 45% of the overall mark. 10% of the overall marks for any task must be given to ‘Structure and Format’. Select an organisation with which you are familiar and assume that you are the marketing executive of the organisation. Your organisation is considering launching a new product/service, and the marketing manager has asked you to deliver a presentation to the board. Your presentation must show how the new product or service aligns with the current business strategy. Your presentation must cover the following aspects:

1. Compare your organisation’s value and mission statements with its current business objectives. Within your answer you should:

• Explain the importance of strategic planning for an organisation

• Contrast differences in approach between profit and not-for-profit sectors

• Devise and develop new goals and objectives for selected organisation.

2. Conduct a situational market analysis for your organisation, including the external factors that affect your organisation, and assess how the opportunities and threats you have identified relate to the organisation’s strategic objectives and competitive position. Your responses to this question should evaluate:

• How external factors (e.g. a change in government, and/or the needs and expectations of shareholders) can affect business strategy.

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