Notesale: Turn your study into money

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A2 - BUSS4 Corporate
Planning
A2 Business Studies

What is Corporate Planning?
• Corporate Planning develops an overall direction and strategy for a business
• It sets out what the business as a whole is trying to achieve and how it
intends to achieve this
...


• These overall targets and plans must then be turned into specific objects
and strategies for each functions
...
It is much better to be ready for
what might happen than to have it happen to you
...

First you need an idea of what they are changing, in this instance it is withdrawing from the
USA and reinvesting £1bn of revenue in the UK on store renovations, more staff, relaunching their Tesco value range and more effective promotions
...
The lines of argument
are very similar – effective way to communicate to staff what’s going on, makes sure
nothing is overlooked as the process of thinking through what you plan to change will make
sure you don’t leave anything out, therefore increasing the chances you will succeed
...

• This involves:
- Recognising the need for contingency planning
- Distinguishing between critical and non critical issues
- Listing all possible crisis scenarios and assessing them
- Searching for ways to prevent each crisis
- Formulating plans for dealing with each crisis
- Simulating each crisis and the operation of each plan
• Contingency planning is like any other form of insurance in that it reduces risk, but can be
costly
...


Please check out my other slides!
Thanks and Good Luck



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