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[PDF] Unit 32 Business Strategy Assignment

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Added on  2021-01-03

[PDF] Unit 32 Business Strategy Assignment

   Added on 2021-01-03

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32 Business Strategy
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INTRODUCTIONBusiness strategy refers to the organisation's working plan to attain its vision, specificaims and objectives, competing successfully and analysing financial performance with itsbusiness model. In order to sustain long term in a market, it is required for each firm to developand design strategy for the growth and development of the business (Akter and et. al., 2016).This assignment related to Mark & Spencer which is a major British multinational retailercompany. It was founded in 1884 by Michael Marks and Thomas Spencer and headquartered inWestminster, London. It deals in selling clothing, luxury food products and home products. Thisreport will discussed about the impact of macro and internal environment on an organisation andcapabilities. Further will defined about evaluation of outcomes by using Porter's five force modeland the understanding and interpretation of strategic directions available to a company.PART APESTEL and SWOT analysis of the organisation and an analysis of organisation's capabilitiesPESTEL AnalysisIt is a tool and technique by applying them a firm can analyse the macro environmentalfactor that affect the company. PESTEL analysis of M&S is as following:Political- It refers to the rules, regulations and policies for the government which aredesigned by it for the proper running of the business of organisations. This factor includesforeign trade, government policy, political stability and others. M&S has been highly affected bythe European Commission's free trade agreements which help in making gods and servicesimports easier. The global franchise businesses of this organisation in the Middle East, Ukraineand Russia which suffered significant decline cause of geopolitical instability, local currencyfluctuation and lack in consumer demand.Economical- It refers to the performance of the economy and consist interest rate,inflation, foreign exchange and others. Competitors pricing strategy highly affected theeconomic condition of M&S. For example, in 2008, during the financial crisis, Aldi Tesco andAsos followed discount pricing strategy and it negatively affect the business of M&S (Bromileyand Rau, 2014). But the management department followed the strategy of emphasising higherquality products for better customer satisfaction. In 2010, this strategy helped the firm maintainits market share and achieving strong sales. 1
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