Discuss the importance of strategic management to the future success of PV.

Mark scheme

Marking points from the official mark scheme (May/June 2017). The mark or mark type is shown in brackets.

1. Note to examiners: Strategic management covers two main topics – business planning and the process of setting objectives, analysis, choice implementation and review to achieve these. Either approach is to be credited.
2. Answers could include:
3. Definition / explanation of strategic planning and management, possibly including:
4. Business plans and their contents
5. Components of strategic management – vision statements / objectives, analysis, choices, implementation and evaluation
6. Problems / issues faced by PV, possibly including decisions centred on:
7. Possible production and sourcing changes
8. Future marketing options
9. HRM policy
10. Possible investment plans
11. Pedro as main decision maker
12. Relating strategic planning and management to the position of PV in the market overall and with regard to these topics
13. Application:
14. Current problems faced by PV
15. Future possibilities being considered in the case
16. The economic and market conditions faced by PV
17. Evaluation:
18. Assessing the importance of the processes for PV in the situation it is facing
19. Highlighting the possible order of priorities and how the processes could assist in setting and achieving objectives
20. The extent to which Pedro needs to address these processes.