BUS489 Strategy for Business Assignment Sample SUSS Singapore

BUS485 is a course which will analyze the strategies that business managers must employ in order to make their companies successful. The major aspects of this strategy are as follows: analyzing and formulating different ways, methods or plan by using analytical tools; implementing these plans into action  taking risks if needed with both personal knowledge about risk management skills and external resources such as technology available; thinking holistically while always considering present realities.

This course will integrate the concepts covered in previous courses with those learnt in this course so that students can understand and evaluate strategic business issues. The student is trained on Strategic Analysis, Choices of Strategy & Implementation of Strategy where they conduct research on actual companies and industries to evaluate real-world business situations or formulate appropriate strategies; thus sharpening their analytical skills as well strengthened their communication skill by doing presentations during class discussions.

TOA,TMA,GBA Assignment sample of Strategy for Business module SUSS Singapore

At the end of this course, Singaporean students will be able to learn Strategy for Business module with the help of the following learning outcomes:

1.Examine business issues and evaluate business competitiveness using analysis techniques that are commonly applied in strategic planning.

The four important business issues that an analytic technique should be able to solve are:

• Planning, which includes production scheduling and capacity allocation.
• Control decisions concerning production timing, differential pricing or discounts, inventory position and quality.
• Stock trading and portfolio management decisions such as optimal investment strategy, risk-free return tradeoff methods for balancing the trade off between risk and return.
• Prediction of uncertain events like market demand fluctuations or price changes.

Read also:  BUS100 Business Skills and Management Assignment Help 

2. Evaluate the external factors affecting the business.

• Competition – There is currently a new competitor on the market that sells lower quality, cheaper products at a lower price. This may act as an increase to margins but will not be sustainable in the long term due to consumer awareness of the difference in quality between competitors.
• Culture – The company culture needs to be improved to make employees feel like they belong and committed during challenging times such as layoffs, general uncertainty, and lack of pay raises. Senior management must take cues from influential employees about what factors need improvement or changing. Not doing so can prove fatal if morale is lost every time there are changes made by management.
• Relationships – The company should form two-way relationships with stakeholders in order for informed decision making. These relationships will allow the company to have access to information that is not readily available in other ways and, should they be acted on, could prove beneficial for the company by reducing costs or increasing revenue.
• Environment – The industry is currently experiencing increased demand but this is causing increase costs due to inflation. If there was an economic recession this could potentially create problems for the business if they have too much debt from loans or investments, which can put them at risk of defaulting on their financial obligations because they would not have enough income coming in to repay its debts.
• Politics – There are talks about regulations being drafted and passed in the near future to impose restrictions on fracking. This may not have a huge impact on business if other countries such as China and India increase demand for oil which means more foreign revenue for the company.
• Technology – The technology is currently outdated in this industry, which could be a problem due to customers becoming used to using advanced technology with companies such as Google, Amazon, or Facebook being market leaders since they constantly upgrade their system to make it easier for users.

3. Appraise the internal factors affecting the business.

The internal factors affecting the business are largely dependent on the company’s investments. If the company is investing in new projects and the rate of return is greater than their cost, then this can accelerate growth.

However, if they invest more than a what is necessary to maintain existing services or to cover losses, it will have deleterious impacts on their liquidity and profitability. Given that most businesses need investment to grow their operations, a perfectly balanced investment structure will be difficult for any company to achieve. Investors should evaluate how much risk they’re willing at take and decide accordingly where they want their money invested in order to optimize returns as well as minimize risks during downturns in one specific sector or another.

4. Formulate business-level strategies.

Point 1. Make sure all your customers are satisfied enough with your products to stay loyal.

Point 2. Survey target customers about what they believe the company should be doing differently, even if it’s just a small quality improvement or clarification on pricing and delivery dates .

Point 3. Create an employee feedback system that lets employees voice their opinions/concerns about company problems anonymously via surveys or chat rooms.

Point 4. Involve employees in important decisions like product development and changes to improve workplace culture by asking for input when possible.

Point 5. Investigate social media sites and other online reviews before starting a review campaign so you know what people are looking for when researching your company.

5. Assess competitive rivalry and predict the likelihood of attack and response.

Competitive rivalry generally leads to an attack and response.

For example, in the 1970s, IBM attacked Univac’s leadership by selling its more advanced System/360 model at cut-rate prices. In response, Univac decided to stop designing and building computers for the business market in order to focus on government clients. This rendered Univac relatively less profitable (and crippled their growth).

The point being that as competitors seek new heights of achievement or a means of boosting profits, they often resort to aggressive tactics aimed at destroying each other’s competitive advantages .

6. Implement corporate-level strategies.

Implement corporate-level strategies. Corporate-level strategies are strategic plans for a corporation that is made at the highest level, usually by senior management or a board of directors.

These involve defining where the company needs to go in the next 3 – 5 years, what priority issues need to be tackled first and also which products should be discontinued, or whether new ones should be developed.

Corporate strategizing may manifest itself as slogan launching, long-term marketing plans and annual business reviews. It might not seem as “sexy” as day-to-day activities but planning for a sustainable future is crucial for any organization’s success and survival.

7. Propose a suitable international strategy to gain entry into the global market.

A strategy to penetrate the global market must be aligned with long-term strategy.

Cost-effective expansion is a critical but not new consideration.

Vectors of growth based on customer demographics and increased spending power are important in penetrating the global markets with multinational corporations.

These include expanding distribution channels as well as developing specific products for international markets, every country in which they intend to sell their product.

Companies that have already made an initial investment into these markets should look at regional trade agreements, tax incentives, and import tariffs (or subsidies) as an opportunity to establish themselves further within these countries’ economies while avoiding some of the challenges faced by novice foreign investors.

8. Inspect the implications of cooperative strategies and other strategic options.

Examine the implications of cooperative strategies and other strategic options. Review the competitive environment and identify industry leaders, potential challengers, substitutes for products or services, and then evaluate possible scenarios with an eye towards avoiding threats. Be sure to look at how events may change long-term operations which can have significant consequences on the company’s strategy.

Lessons from history are not always present but a good dose of conjecture never hurts before moving forward with a proposed strategy in mind. A good primer is reviewing military tactics to take into consideration multiple fronts that must be defended against simultaneously in order to succeed.

9. Analyse different case scenarios.

There are three main cases for business; revenue is up, unchanged or down. In the first case, more products need to be made. In the second case, production needs to be reduced and push efficiencies onto other aspects of the company like marketing. The third case illustrates that as much as possible should be done to minimize losses and cut expenses until a turn-around can occur.

Revenue is up: More marketing efforts or staffing should be implemented in order to capitalize on this most profitable period of time for your company. Revenue is unchanged: Conserving employees and assets by lowering costs can help preserve stability during this unpredictable time period while you wait for market trends to shift in your favor again. Revenue is down: Implementing changes immediately is critical when revenue is down. This may mean downsizing or closing the branch office until it can be determined that there will be a positive return on investment in the long-term.

10. Construct case arguments in teams, acquiring team building and team management skills.

Case arguments in teams, acquiring team building and team management skills.

Allowing members to work independently on case studies while also coming together for group feedback sessions allows individuals to explore their own strengths and weaknesses while gaining valuable insight into others’ methods. By injecting cross linguistic discourse, you’ll get a diverse range of ideas that strengthen your final presentation.

Besides team building working as an urgent need for many groups both in the workplace and outside, it also gives people a chance to have fun with others who they might not normally associate with otherwise. To conclude, case arguments can support teamwork both inside and out of the classroom.

11. Demonstrate well developed written proficiency.

To demonstrate well developed written proficiency, you have to take the time and put in the effort. If you look at some of the best writers in virtually any profession, they pour their hearts into what they do. They are often perfectionists who want to leave nothing short of a memorable experience for readers.

You need patience with yourself and your art before everything else will start to click. Learn from mistakes and then try again, tell your story with fresh eyes each time if need be. Write to feel alive and keep writing despite fear or unfounded doubt for it is only by expanding our comfort zones that we grow as individuals! Finally remember this advice: take pride in continuing progress!

12. Practise oral presentation skills.

To improve your oral presentation skills, make sure to speak slowly and consciously enunciate everything you say. Use a firm tone of voice, always maintain eye contact with the person who is listening (i.e. audience), have appropriate facial expressions, use hand gestures to emphasize a point or an idea, vary your voice tone while communicating, answer questions from the audience as they arise and create specific outcomes of this presentation in order to ensure that it’s relevant for the people who will be watching it. Practice each one before coming up onto the stage!

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