Business strategy Assignment Example | Topics and Well Written Essays - 1750 words

Business strategy - Assignment Example Evaluation of different tactics for Leeds University Growth in the business is a complex and multifarious aspect but is a highly desired phenomenon for the organizations unanimously. Business growth stands synonymous to business outcome, which signifies the achievement of business goals, increasing the number of employees, enhancing the value of the business related to the stakeholders and enhancing the profit or the sales of the business. New ventures or strategies consist of processes that are related to the capabilities and resources of the organization (Kariv 477). The University of Leeds is ranked as the second largest university of United Kingdom (UK). This university is a significant player in the higher education of UK and has built its reputation on the basis of quality, volume and breadth of research and education along with its diverse portfolio of research excellence. The university has implemented various strategies in order to integrate education, scholarship and world- class research in order to secure a position among the top 50 universities in the world. Through these steps, they aim to create an impact on the global society. Along with achieving academic excellence, the organization also aims to form an efficient, effective and sustainable organization that would promote a healthy workplace, standardised processes and sustainable environment. Financial stability and appraisal of the university staff is also given equal importance in their strategy (University of Leeds â€Å"Strategy Map.†). Therefore, it can be seen that for attaining the world class position, the university has not only framed strategies related to their business, but has also employed resources that will be responsible for delivering the results. Thus, the strategy will lead to substantial growth. 2. Grounds based on which suitable future strategy are chosen for Leeds University To decide on a strategy, the managers devote considerable amount of energy and thought proc esses on considering and reconsidering the future and the present scenario of the organization. Creating a strategy is highly dependent on the scenario analysis and assessment of the business opportunities. Strategy scope plays an important role in this context. The University of Leeds is operating in a rapidly changing business environment where it requires addressing the scope which presents them with an opportunity. The scopes that the university requires to address are product or service scope, customers scope, geographic scope and the stakeholder scope (Fahey and Randall 23-28). Firstly, for University of Leeds to position itself among the top 50 universities, the product and services that they offer plays a significant role. The product and services that is education should be as such, that it develops outstanding scholars and graduates. Hence, the primary focus should be on methods to enhance the product to make it better. Secondly, in case of the customer scope that is the s tudents, the university should deliver their education in such ways that high quality students are developed who in turn will impact the global society. Thirdly, geographic scope is an important parameter for the success of the university. In order to create an impact on the global front, internationalization of the university is very important. This requires expansion of its geographic limits. Lastly, maximization of stakeholder’s value and meeting their expectations are significant for sustainability of the organizati