TASK
Develop a Strategic Business Plan for a New Venture
Start-up companies are more important in bringing products and services to market. In response to new technology, new and innovative businesses are taking over the markets of those older companies too slow to move with changing customer demands. Following this line of thought, for this task you are an administrative officer at the corporate level of an offshore organization and, you are assigned to develop a strategic business plan for a new venture in a sector of your choice. This Strategic Management Process should contain whatever is necessary to start-up a company from scratch, including the new company's philosophy, mission, objectives, strategies and tactics, CSR, an analysis of the firm's internal and external environment, organizational structure, leadership and, an one-page financial report justifying the firm's survival for at least a year. You should justify your choices in terms of the chosen industry/sector on the grounds of innovation, competitive advantage and, company's sustained growth and survival. Your budged is £150,000 (BP).
DIRECTIONS AND HELP FOR YOUR ASSIGNMENT
You are expected to discuss a number of components that appear in the ‘Strategic Management Process' in relation to an innovative idea/ new venture. However, in the same way that businesses vary in the processes they use to formulate and direct their strategic management activities, you may include different components in your strategic process. In other words, although the basic components of the models used to analyze strategic management operations are very similar, you may develop an eclectic strategic analysis. Despite the differences, nevertheless, your strategic analysis should be representative of the foremost thought in the strategic management area.