Business Strategy Essay Example | Topics and Well Written Essays - 5000 words

Business Strategy - Essay Example This paper is going to look at the strategic planning process of TNT as well as the formulation of a new strategy. Strategic planning is a significant aspect when it comes to the operations of any organization. It is important for an organization to have a clear understanding on the process of strategic planning in order for it to implement it successfully (Johnson, 2004). This section is going to focus on the mission, objectives, vision as well as the core competencies of TNT, the issues that are involved in the process of strategic planning and lastly, the different planning techniques. A strategy can simply be defined as a long-term direction for any organization. According to Johnson et al, a strategy has the long-term direction that is required in achieving the set organizational goals (Johnson, 2004). In the case of TNT, the organization has established its own practical measures based on three aims. These aims are customer relationship, innovation and operational excellence. These measures in this context can be classified as the long term direction goals for TNT. The vision statement of an organization is simply focussed with the state of an organization that is desired based on future forecasting (Simerson, 2011). A vision statement for any organization should look at what the organization wants to achieve at present and in the future. The core competencies simply differentiate an organization from the competitors in the same industry. The resources, activities and skills which cannot be copied by the competitors may be regarded as the core competencies of that organization. TNT is known to have many core competencies in the industry and thus it has been able to gain a competitive advantage over its competitors through the available resources. According to Sadler et al, strategic planning is a form of systemized procedure that is used to develop a strategy for an organization. This