- Unit 51: Executive Recruitment Solutions Assignment Sample-BTEC-HND-Level 4 & 5
- Unit 51-LO1 Explain the nature and scope of the recruitment industry-BTEC-HND-Level 4 & 5
- Unit 51-LO4 Apply skills for an executive search within a given business context to meet a client brief-BTEC-HND-Level 4 & 5
- Unit 51-LO3 Present the process of executive recruitment and the required skills at each stage of the process-BTEC-HND-Level 4 & 5
- Unit 50: Consumer and Intellectual Property Law Assignment Sample
- Unit 50-LO2 Examine the legal rules on consumer credit agreements-BTEC-HND-Level 4 & 5
- Unit 50-LO3 Evaluate the key provisions relating to intellectual property rights-BTEC-HND-Level 4 & 5
- Unit 50-LO4 Recommend appropriate legal solutions based upon relevant legislation, case law, and regulations-BTEC-HND-Level 4 & 5
- Unit 50-LO1 Analyse the main principles affecting the legal relationship between business organizations and their consumers-BTEC-HND-Level 4 & 5
- Unit 49: Company Law and Corporate Governance Assignment Sample-BTEC-HND-Level 4 & 5
- Unit 49-LO2 Assess the importance of meetings and resolutions incorporate management-BTEC-HND-Level 4 & 5
- Unit 49-LO3 Analyse the process of raising and maintaining capital for a company-BTEC-HND-Level 4 & 5
- Unit 49-LO4 Evaluate the role and impact of corporate governance in the management of companies-BTEC-HND-Level 4 & 5
- Unit 49-LO1 Evaluate the nature and legal status of companies-BTEC-HND-Level 4 & 5
- Unit 48: Law of Contract and Tort Assignment Sample-BTEC-HND-Level 4 & 5
- Unit 48-LO2 Discuss how the contents and the terms of the contract are established-BTEC-HND-Level 4 & 5
- Unit 48-LO3 Illustrate the impact of contractual breakdown and suggest remedies available for breach-BTEC-HND-Level 4 & 5
- Unit 48-LO4 Evaluate the elements of the tort of negligence and remedies available-BTEC-HND-Level 4 & 5
- Unit 48-LO1 Examine the essential elements of a valid contract-BTEC-HND-Level 4 & 5
- Unit 47: Business Intelligence Assignment Sample-BTEC-HND-Level 4 & 5
Unit 32-LO4 Apply models, theories, and concepts to assist with the understanding and interpretation of strategic directions available to an organization-BTEC-HND-Level 4 & 5
Course: Pearson BTEC Levels 4 and 5 Higher Nationals in Business
Strategic leadership as used in this context means the ability to simultaneously develop and execute a strategy. Strategists must make hard decisions, often with imperfect or incomplete information, under intense time pressure. They require knowledge of business fundamentals – most importantly finance and macroeconomics – but they also need to be experts on strategy subjects like marketing, technology, operations, competitive dynamics.
Additionally, strategic leaders are required to have analytical skills that are grounded in facts and data but can also deal effectively with ambiguous situations; creativity that helps manage new problems that other entrepreneurs never encountered before; communication skills for persuading professionals inside as well as outside an organization when taking measures that affect them about decisions he has already made; confidence and self-confidence which means leading, inspiring and encouraging people to a common goal; leadership that means having the ability to gain commitment from his subordinates and co-leaders towards the organization’s mission; management which includes creating efficiency in an organization so as to guarantee its survival despite competition.
Strategic choices and directions:
The application of Porter’s generic strategies: cost and price leadership strategy, differentiation strategy, focus strategy, and the extended model of Bowman’s strategy clock.
The Porter generic strategies are designed to help businesses develop and refine their own competitive strategies. The following is an explanation of how the cost and price leadership strategy would work for a company.
For a business to employ the cost leadership strategy, they must have low costs or produce greatly in excess of what they can sell.
For example, Walmart has been able to expand its operations without making major investments into building new stores because its infrastructure was already in place through its acquisition of Walmart Canada and various arrangement contracts with suppliers (Chung).
Essentially, this system relies on high volume sales rather than higher prices -which makes sense for products such as food that will rot if not sold- but doesn’t make sense for products like designer clothing that people will pay top dollar for regardless of how much is available.
There are many possible hybrid strategies and each company is different. A strategy that may be successful for one company may not work well for another.
With all the strategic options, choosing which is best can be difficult. It’s important to ask yourself what you want to achieve with your business in the long term and those needs should then drive the decision about how you decide on a strategy.
Some companies may want to grow their core business market quickly before moving into new markets while others who have been around for generations might just need to maintain their current size or find ways of ensuring they stay profitable in an unstable economic environment where there are constant changes in population demographics and buying trends.
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Diversification is a common business strategy that seeks to reduce risk by investing in different aspects of the market.
For example, if you’re running a restaurant and you cook everything from french fries to cornbread to dessert, your chances for success are greater than if you only served one dish.
If all my eggs are in one basket and I drop it (and make be oopsie), then I’m going bankrupt. But if I have all sorts of baskets with lots of eggs and plates underneath them (mortgage payments, groceries bills, utility bills) then at least when oopsie happens I’ll have something left over instead of nothing. Diversification allows us to weather storms more easily because it provides stability — diversification is not risk-free. It may never actually be able to eliminate risk but it can provide a buffer against the most severe forms of risk.
Vertical integration is different from horizontal integration. Horizontal integration means the company produces a range of products and services, whereas vertical integration refers to owning the production chain all the way “up” through much of it (from raw material suppliers to wholesale distributors).
For instance, owning farms that produce cattle or grains as well as processing factories that can produce meat or flour.
Vertical/Horizontal Integration is implemented for various reasons. Typically mentioned are economies of scale and moving closer to customers for better service. Also, being close to raw material suppliers can allow an organization more potential control over where they buy their goods which will, in turn, minimize costs if done successfully.
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