Business strategic management is effective for the entrepreneurs to develop proper planning for successful establishment of the business.

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BUSINESS STRATEGIC PLANNING (Case Study)
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2. BUSINESS
STRATEGIC
PLANNING

3. INTRODUCTION
⦿ Business strategic
management is effective for
the entrepreneurs to develop
proper planning for
successful establishment of
the business.
⦿ The entrepreneur aims at
opening up the business,
which is a toy company and
for this it is necessary to
create suitable strategic
planning to establish the firm
successfully and efficiently in
the market.

4. PROPOSED STRATEGIES
⦿ In order to establish the toy company, it is essential to
develop proper strategies, and the strategies are,
⮚ Product diversification strategy
⮚ Cost leadership strategy

5. CONTINUED
⦿The other strategies of the toy company are,
⮚ Market entry through promotional activities
⮚ Creating values for the stakeholders engaged
with the business
⮚ Strengthening supply chain network for
successful distribution of the products
⮚ Managing customer’s service
⮚ Providing high return on investment

6. MARKETING STRATEGIC PLANNING
⦿ Marketing is the major business functions
through which the company can establish
the business in the market. The elements of
marketing 4P strategy are,
⦿ Product:
❖ Manufacturing quality toys
❖ Focusing on product diversification
❖ Handling product packaging
⦿ Price:
❖ Applying premium pricing strategy
❖ Setting low price
❖ Providing discounts on bulk purchase
❖ Giving discount on occasions

7. CONTINUES
⦿ Place:
❖ Strengthening supply
chain
❖ Retaining efficient
distributors
❖ Tracking the orders and
management the
customers
⦿ Promotion:
❖ Social media
advertisement
❖ Television
advertisement
❖ Word of mouth
❖ E-mail marketing

8. INTERNAL ANALYSIS OF
MARKETING
Strengths:
Organisational fund
Financial stability
String employee base
Good strategic initiative
Entrepreneurship skill
Weakness:
Lack f strategic initiative for marketing
Low investment in product design and
diversification
Lack of cost leadership strategic planning
Opportunities:
E-commerce business expansion
Creative products at the toy industry
Business growth and economic
development
Technological advancement for successful
Promotion and managing operations
Threats:
There are other competitive brands in the
toy market
Intense competition
Presence of the substitute toy products

9. HUMAN RESOURCE MANAGEMENT
⦿ For internal human resource
management, it is necessary for
the organisation to strategise
their planning such as,
▪ Providing proper incentives and
performance related pay to the
employees
▪ Restructure the salary and
wages
▪ Giving health insurance
coverage to protect the staff at
the workplace
▪ Implementing equality and
diversity policy
▪ Managing transparency and
accountability

10. CONTINUED
⦿Encouraging employee’s creativity
⦿Providing freedom to work at the workplace
⦿Arranging training and development program
⦿Creating suitable organisational culture with
harmony
⦿Continuous motivation
⦿Enhancing communication and cooperation
⦿Empowering all the employees in the
organisational decision making behaviour
⦿Sharing information and developing
integrated workplace

11. INTERNAL ANALYSIS OF HUMAN
RESOURCE MANAGEMENT
Strengths:
String employee base
Financial stability
Good strategic initiative
Leadership skill
Supportive workforce
Weakness:
Lack of strategic initiative for managing
staff
poor incentive structure
unclear recruitment and selection
process
Opportunities:
E-commerce business expansion
Creative organisational policies
Business growth and economic
development
High return on investment
Initiative for creating values for the staff
Threats:
Diverse workforce
Cultural diversity management
Absence of skilled workers
High competition in the labour market

12. CONCLUSION
⦿ The toy company has the potential to restructure their policy
and develop effective planning for successful establishment of
the business.
⦿ The company is efficient to manage their performance in long
run due to strong employee base, but it is necessary to
develop proper strategy to handle the diverse workforce and
influence them successfully for enhancing the overall
organisational performance.
⦿ Through the marketing elements and the business function of
human resource management, the toy company would be able
to establish the brand and expand it by delivering high quality
creative products to the customers across the market at
affordable price.

13. REFERENCE LIST
⦿ Cardoni, A., Zanin, F., Bartolacci, F. and Tompson, G.H.J.,
2018. Strategic planning for value creation in business
networks. Conceptual framework and theoretical
proposals. Management control.
⦿ Cassidy, A., 2016. A practical guide to information
systems strategic planning. Berlin: CRC press.
⦿ Channon, D.F. and Jalland, M., 2016. Multinational
strategic planning. Berlin: Springer.
⦿ Nickols, F., 2016. Strategy, strategic management,
strategic planning and strategic thinking. Management
Journal, 1(1), pp.4-7.
⦿ Rothaermel, F.T., 2016. Strategic management:
concepts (Vol. 2). London: McGraw-Hill Education.
⦿ Telesford, J.N. and Strachan, P.A., 2017. Strategic
Sustainability Procedures: Focusing Business Strategic
Planning on the Socio‐Ecological System in an Island
Context. Sustainable Development, 25(1), pp.35-49.

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