ASSIGNMENT BRIEF -

This assignment satisfies the following learning outcomes:

LO1 Understand the process of strategic planning

1.1 Assess how business missions, visions, objectives, goals and core competencies informstrategic planning

1.2 Analyse the factors that have to be considered when formulating strategic plans

1.3 Evaluate the effectiveness of techniques used when developing strategic business plans

Answer the following questions:

1. Compare and discuss the differences among mission, vision, objective, goal and core competence. How are they related to strategic planning? Write 1-2 sentence(s) examples for each to illustrate your answer.

Question 1 produces evidence for assessment criterion 1.1

2. What are the steps and issues/factors of strategic planning? Give examples where necessary.

Question 2 produces evidence for assessment criterion 1.2

3. What are the different planning techniques involves in strategic planning? Are there any difficulties to carry them out? Evaluate their effectiveness and drawbacks. Give examples.

Question 3 produces evidence for assessment criterion 1.3