COLLEGE OF BANKING AND FINANCIAL STUDIES DEPARTMENT OF PROFESSIONAL STUDIES Assignment front sheet Assignment - 2 Qualification Unit number and title Pearson BTEC Level 5 HND Diploma in Business Unit 7: Business Strategy Semester Batch II Fall 2016-17 (Sep-Dec) Student name Assessor name Mr. Niranjan Shetty Student No. Internal Verifier (IV) name Mr. Vaheed Zaman Ubaidullah Date issued Completion date Submitted on 26th September 2016 Assignment title Learning Outcome LO3 Learning outcome Understand approaches to strategy evaluation Strategy evaluation and implementation Assessment Criteria In this assessment you will have the opportunity to present evidence that shows you are able to: 3.1 Analyse the appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or retrenchment for a given organisation 1 3.2 Justify the selection of a strategy 2 4.1 LO4 Understand how to implement a chosen strategy 4.2 4.3 Assess the roles and responsibilities of personnel who are charged with strategy implementation Analyse the estimated resource requirements for implementing a new strategy for a given organization Evaluate the contribution of SMART targets to the achievement of strategy implementation in a given organization Task Evidence no. (Page no) 3 4 5 Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: 1 In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades Grade Descriptor Indicative characteristic/s M1 Identify and apply strategies to find Effective judgements appropriate solutions been made. have M2 Select / design and A range of methods and apply appropriate methods techniques have been applied / techniques A range of sources of information has been used Contextualisation To achieve M1, you will make effective judgements by comparing market entry, substantive growth and limited growth strategies and suggest most appropriate category of strategy for Oman Sail (Task 1). To achieve M1, you will make effective judgements while analysing the resources by comparing various resources from one another both for alizz bank (Task 4). To achieve M2, you will have used a range of methods and techniques such as Scoring and Ranking Method (SRM) or Cost Benefit Analysis (CBA) to explore the selection and justification of the strategy and for Oman Sail (Task 2). To achieve M2, you will have used range of sources of information for evaluating SMART target for alizz bank (Task 5). M3 Present and To achieve M3, you will have used appropriate structure and approach in communicate appropriate The appropriate structure and presenting the roles, responsibilities and assessment of personnel for alizz bank findings approach has been used (Task 3). D1 Use critical reflection to Realistic improvements have proposed against To achieve D1, you will have proposed realistic improvements against defined evaluate own work and been defined characteristics for characteristics for success of SMART approach for alizz bank (Task 5) justify valid conclusions success To achieve D2, you will have demonstrated autonomy and independence by D2 Take responsibility for managing and organising Autonomy/independence has developing most unique strategies for Oman Sail. The strategies that are discussed activities been demonstrated in the class should not be repeated. The selection and justification may be shown through advanced market analysis or research (Task 2). Innovation and creative To achieve D3, you will have applied innovation and creative thought in assessing thought have been applied D3 Demonstrate the roles and responsibilities for alizz bank (Task 3). convergent /lateral / creative thinking 2 Assignment Brief Purpose of this assignment This assignment will enable the students to evaluate various strategies available for a business organisation and implement a chosen strategy. Students will learn substantive growth strategies, limited growth strategies, market entry strategies and retrenchment strategies. They should able to select any one strategy from these and suggest how to implement strategies. While implementing the chosen strategies students will ensure that sufficient arrangements in terms of resources such human and others are kept ready. At the end, students will able to review and evaluate the strategy that they chose and derive appropriate feedback Case Scenario “Tourism is a serious business” Oman Sail Oman Sail serves as an extension of the Ministry of Tourism and applies its expertise to develop tourism in Oman. Using sports as a platform, Oman Sail has helped in raising the country’s global profile as a high-end tourism and investment destination. Oman Sail has undertaken efforts in collaboration with the ministry of tourism such as setting up tourism pavilions and sailing participations targeting the Sultanate’s key markets such as the UK, Italy, France and Germany. Sporting activities can be very efficient way in attracting tourists as well as marketing Oman as a tourist destination as focussed groups are talked about. Whenever a major sailing events take place in the countries which are key markets for Sultanate, Oman Sail make sure of their presence there. In conjunction with the ministry, Oman Sail build pavilions at the venues to give a glimpse of Oman to the people there. The pavilions are managed by Omanis, who create an Omani atmosphere for visitors. In the pavilion, Oman Sail will have a carpet weaver from Al Hamra, a potter from Nizwa, and a lady from the interior practicing Henna. The pavilion is also adored with pictures to showcase the beautiful coastline of Oman and visitors are offered dates, coffee, and reose water. The crisis in Europe has not impacted this industry according to Mr. David Graham, CEO of Oman Sail. He says, tourism was selected as one of the four diversification sectors in the country and it is a serious business. With any campaign one need to keep pushing and pushing and that is what Ministry of Tourism and Oman Sail is doing. Source: Extracts from ‘Business Today’, Supplementary Magazine, Issue 201, August 2015, pp 22-23. Task 1 – LO3 - Assessment Criteria 3.1 (M1): Analyse the appropriateness of market entry, substantive growth and limited growth strategies for Oman Sail to increase the tourism sector. To achieve pass you must; • • • Give a brief description of market entry, substantive growth & limited growth strategies. Give a brief description of sub-strategies of market entry, substantive growth & limited growth. Analyse whether the above strategies are appropriate for Oman Sail. To achieve M1, you will make effective judgements by comparing market entry, substantive growth and limited growth strategies and suggest most appropriate category of strategy for Oman Sail. 3 Task 2 – LO3 - Assessment Criteria 3.1 (M2, D2): Justify any one strategy that you consider most appropriate for Oman Sail or Ministry of Tourism. To achieve pass you must; • • • Select any one strategy from market entry, substantive growth and limited growth strategies that you consider appropriate for Oman Sail. Select any one sub-strategy from market entry, substantive growth and limited growth strategies that you consider appropriate for Oman Sail. Justify the rationality behind the chosen strategy for Oman Sail. To achieve M2, you will have used a range of methods and techniques such as Scoring and Ranking Method (SRM) or Cost Benefit Analysis (CBA) to explore the selection and justification of the strategy and for Oman Sail. To achieve D2, you will have demonstrated autonomy and independence by developing most unique strategies for Oman Sail. The strategies that are discussed in the class should not be repeated. The selection and justification may be shown through advanced market analysis or research. Case Scenario “alizz islamic bank” – A growth story alizz islamic bank (SAOG) was established in accordance to Royal Decree No. 69/2012 which amended the banking law to include Islamic banking at licensed banks through either specialized banks or independent entities at the existing commercial banks. Founded in November 2012, alizz islamic bank provides retail and corporate finance through branches, online (alizzislamic.com), and mobile devices. alizz islamic bank is here to deliver exceptional and sustainable results to our stakeholders by providing superior Shari'a compliant financial solutions. The bank headquartered in the Central Business District Area in Ruwi, Oman but plan to decentralize every local alizz islamic bank branch as a headquarter for satisfying all its customers' financial needs and helping them succeed financially. The total paid up capital is 100 million Omani Rials of which 40% was raised by public investors during the Initial Public Offering (IPO). 60% was contributed by the bank's Promoters who come from diverse yet complementary backgrounds, and share extensive experience in leadership roles, all of which contribute to establishing a solid foundation from which alizz islamic bank can flourish. While the initiation of modern Islamic Banking dates back to 1963, the present-day practice debuted in 1975, when banks were established and mandated to operate in adherence to Shari'a rules and principles. Ever since, Islamic Banking has been one of the fastest growing sectors in the global banking industry. As new geographies continue to open up to Islamic Banking, industry forecasts suggest that Islamic Banking assets held by commercial banks globally will continue to grow. The pace of growth has increased dramatically over the past decade driven by awareness and demand, as well as easier access to Islamic Banking services. Across world markets, and particularly in the GCC, SouthEast and South Asia (which is home to over 50% of the total Islamic Banking industry), the strategy has been to allow a dual banking system, whereby Islamic Banking co-exists with conventional banking. The growth of the Islamic Banking industry has been fuelled by surging demand for Shari'a-compliant products, not only from financiers in the Middle East and other Islamic countries, but also by investors worldwide, thus making it a global industry. Besides its vast geographical expanse, Islamic Banking is witnessing rapid expansion across the whole spectrum of financial activities including personal banking, insurance and capital market investments. The continued growth in the Islamic banking industry is attributable to three factors: increasing demand from a large number of Muslim communities (including Muslim immigrants to western countries); oil wealth in GCC countries; and the growing attractiveness of Shari'a-compliant financial services to non-Muslim investors seeking 'ethical' investments and banking practices. Oman's Islamic banking (including Islamic windows) is expected to continue its 4 steady growth over the coming years. Reports and banking experts are also expecting that Oman should witness a growth of sukuk as local and regional players look to raise funds in a Shari'a compliant manner. Source: ‘http://alizzislamic.com, viewed 18 th September 2016. Task 3 – LO4 - Assessment Criteria 4.1 (M3, D3): Assess the roles and responsibilities of alizz bank personnel to implement a robust growth strategy. To achieve pass you must; • • • Mention different roles of personnel at alizz bank. Mention different responsibilities of personnel at alizz bank. Assess the roles and responsibilities of personnel at alizz bank. To achieve M3, you will have used appropriate structure and approach in presenting the roles, responsibilities and assessment of personnel for alizz bank. To achieve D3, you will have applied innovation and creative thought in assessing the roles and responsibilities for alizz bank. Task 4 – LO4 - Assessment Criteria 4.2 (M1): Analyse the key resources required to implement growth strategy for alizz bank. To achieve pass you must; • • List key resources required to implement growth strategy for alizz bank. Analyse each resource you have listed in the light of alizz bank’s growth strategy. To achieve M1, you will make effective judgements while analysing the resources by comparing various resources from one another both for alizz bank. Task 5 – LO4 - Assessment Criteria 4.3 (M2, D1): How can you evaluate ‘SMART’ target in case of alizz bank’s growth strategy? To achieve pass you must; • • Give a brief description about all the variables of SMART. Evaluate how SMART will be useful to alizz bank in achieving the growth strategy. To achieve M2, you will have used range of sources of information for evaluating SMART target for alizz bank. To achieve D1, you will have proposed realistic improvements against defined characteristics for success of SMART approach for alizz bank. 5 Evidence checklist Summary of evidence required by student Task 1 Appropriateness of market entry, substantive and limited growth strategies Task 2 Selection and Justification for a strategy Task 3 Assessment of roles & responsibilities of staff in strategy implementation Task 4 Analysis of resources required to implement a strategy Task 5 Evaluation of SMART approach in strategy implementation Evidence presented Guidance notes: 1. Use standard document formats and structures. 2. Word process the documents. 3. Use 12 point Arial or Times New Roman script. 4. Provide a list of references and use the Harvard referencing system. 5. Complete the title page and sign the statement of authenticity. 6. Upload the entire assignment in MS word format only on Turnitin. 6 7. Staple only once to keep the pages of your work together. 8. Late submission, late work will only be marked on the next occasion the unit is taught. 9. Submit the work along with the Turnitin report to the respective assessors in their offices. 10. Collect the assignment submission form duly signed by the assessor and the learner. 11. Grades are subject to External Verification. 12. Word count should not exceed 4000 for the whole assignment. 13. Mention the word count on the front/cover sheet of your assignment. Class ID: Pass word: Achievement Summary Pearson BTEC Level 5 HND Diploma in Assessor name Mr. Niranjan Shetty 7 Qualification Business Unit Number and title Unit 7 Business Strategy Student Number Criteria Reference IV name Mr. Vaheed Zaman Ubaidullah Student name To achieve the criteria the evidence must show that the student is able to: Achieved? (tick) LO3 3.1 3.2 Appropriateness of market entry, substantive and limited growth strategies Selection and Justification for a strategy LO4 4.1 4.2 4.3 Assessment of roles & responsibilities of staff in strategy implementation Analysis of resources required to implement a strategy Evaluation of SMART approach in strategy implementation Higher Grade achievements (where applicable) 8 Grade descriptor M1: Identify and apply appropriate solutions M2: Select/design and methods/techniques M3: Present findings and Achieved? (tick) strategies apply communicate to find Grade descriptor Achieved? (tick) D1: Use critical reflection to evaluate own work and justify valid conclusions appropriate D2: Take responsibility for managing and organising activities appropriate D3: Demonstrate /creative thinking convergent/lateral Assignment Feedback 9 Formative Feedback: Assessor to Student Action Plan Summative feedback 10 Feedback: Student to Assessor Assessor Signature Date IV Signature Date Student Signature Date 11
Purchase answer to see full attachment