Creating a Business Strategy Plan Paper

Here the business strategy in which we define the various goals as well as aspects within the organisation such that the reasons may be outlined with the goals which can be achieved it. Your business plan should include the following:

1.Before starting any business, you will need to access out your competition. What strategies are they employing to attract your target market?

2. The key to any successful business venture is to know your target demographic and what makes them tick. Once you’ve identified your audience, and more specifically their expectations and needs, you will be able to plan a more effective method to attract their attention.
3. Behind every great business is a great business plan. When developing your business strategy, ask yourself where you want your business to be in one, five or even ten years’ time. Setting future goals for your organisation is important in measuring the success of your business.

In business, you need a well-defined plan in order to succeed. Without an organisational strategy, it’s impossible to set up milestones and know when you’re achieving your goals. Whether you’re a brand-new business, you’re looking to start a business, or you’ve been in business for some time, it’s imperative that you develop an organisational strategy.

Your organisational strategy will arise from your company’s mission – the reason you’re in business. Every action you take should seek to fill that one purpose, with that mission guiding all your strategic decisions. If you or your leadership team have trouble saying no to potential initiatives or new ideas, it’s important to develop a strategy.

This is because when you have an organisational strategy, you’ve already prioritised the types of activities you need to complete in order to succeed.

References

Opstart (August 2017) What is an Organisational strategy and why it is important? Retrieved from: https://www.opstart.ca/organisational-strategy-important/

VLink D (August, 2019) The importance of business strategy Retrieved from:https://www.vlinkd.com/future-links/the-importance-of-business-strategy/

Discussion-2 Comments with 100 words. In the present scenario in context to business, the survival of an organisation depends on how they align the information strategy with their business strategies. When it comes to understanding consumer’s needs and market competition, IS can be a booster for a firm.

Now, we cannot assume that technology is only about Smartphone and smart devices, it is helping the organisations to race globally, and this generates the need for alignment in business and information strategy (Jie and Puspitasari, 2020).

Successful sustainability of an organisation cannot just depend on the cost-cutting done by automation or applications implementations. It needs a strong information system and database which will help the organisation in standing strong.

When the business strategy is aligned perfectly with the IS, it exactly gives an organisation’s current status and clear future vision.

This alignment can lead to:

• Enhanced business capabilities.
• A worldwide platform to compete.
• Better support for your customers.
• Quality decision making.

I thoroughly observed the negative effects of nonalignment between the business and information strategy in the company named XYZ.

Being a furniture firm, with a great business strategy their market reach was restricted and, they were unable to understand consumer’s need. Then, they decided to align their business strategy to information strategy.

This helped them in:

• Understanding customer’s needs.
• Knowing the latest trend in the global market.
• Better database.
• Taking measured risks.
• Giving better customer services.
• Enhancing business.

My only concern is, we all understand the importance of the alignment of business and information strategy. It is vital for an organisation’s growth.

But, is there any easy way for the small-scale businesses for establishing this alignment? As it is hard and cost-effective for them to set up this arrangement without the basic knowledge and support.

References

Jie, F. and Puspitasari, I. (2020). Making the Information Technology (IT) Business Alignment Works: A Framework of IT-based Competitive Strategy. International Journal of Business Information Systems, 34(1), p.1.

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