LO1 - Critically appraise the strategic analysis tools for assessing the characteristics of the external and internal environment and its application in influencing business performance

Details:
STRUCTURE OF ASSESSMENT 1
LO1 - Critically appraise the strategic analysis tools for assessing the characteristics of the external and internal environment and its application in influencing business performance


Assessment 1:
A Group Assignment with a weighting of 30% (upper word count 1500 words) to cover learning outcome 1
Based on the given case study on Virgin Group analyse the organisation`s external environment and its internal capabilities using various strategic management tools. Identify the organisation`s current strategic position in the sector/market within which it operates.
You can consider Virgin Group as a whole or you can select one of the many sectors under the Virgin Group umbrella. Follow this link for an overview Our approach to business | Virgin

Specifically:
Conduct an analysis on the organisation to determine the organisation’s position in the sector and market within which it operates. From your analysis, identify an opportunity for change, which will support the organisation’s objectives. Where possible identify how this change will give competitive advantage over rival organisations.

Possible Guide
Give brief introduction of the Virgin business you wish to analyse
Define and explain internal and external environment
Use analysis tools to discuss the internal and external environment of your chosen organisation. (SWOT, PESTEL, Porters Five Forces etc.)
Show how these tools can practically help virgin… to know their strategic position and develop a strategy for improvement
Suggest a possible change for the organisation and give their importance of achieving competitive advantages.

APPROACH

• Introduction - Brief background of the organisation (Virgin ……)
• Internal environment – within the business e.g., 5Ms (micro) – have control, can change them if needed
• External environment outside the organisation – (macro) – no control, organisations should only adapt
• Tools SWOT to identify the strength weakness opportunities and threats. Shows organisations position…. Strategy for competitive advantages.
• PESTEL know the environment to help organisation to adapt in order to survive.
• The SWOT, PESTEL, Porters five forces, Porter’s Generic Strategy, etc. highlight current strategic position.
• Strategy is the means by which organisation can …………………………A good strategy can help an organisation to achieve competitive advantage
• Possible change – use technology, quality, customer care, online shopping, drones, AI, etc.
• Conclusion