BTEC HIGHER NATIONAL DIPLOMA IN BUSINESS
SCENARIO / CASE
You are recently promoted as the new Managing Director of a renowned business corporation in Singapore. Being the Managing Director, you are required to lead your organization to the next level. As such, you will need to entail a Business Strategy plan for your organization. To support your analysis, you need to conduct some research at the resources library and download from the Internet for relevant information including the up – to – date annual report of your selected organization. The report is required to incorporate the following tasks.
Task1: (Assessment Criteria 1.1)
Explain the meaning of strategy and evaluate your organization’s mission statement. You need to identify three corporate objectives for the selected organization
What is a Strategy? * Strategy is the direction and scope of an organization over the long-term: which achieves advantage for the organization through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations.
What is a mission? * As we already know, a mission describes an organization’s basic function in society, but originally the term was used to describe specific journeys made to discover somewhere or something or to spread knowledge and belief.
Mission of Nokia
Nokia’s mission is simple, Connecting People. Our strategic intent is to build great mobile products. Our job is to enable billions of people everywhere to get more of life’s opportunities through mobile.
Although many organizations do not have a clearly defined mission, they are becoming increasingly common, especially in larger organizations, and are usually set out in the form of a mission statement. This written declaration of an organization’s central mission is a useful concept