Aldi Business Strategy Doc
Added on 2020-09-17
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BUSINESS STRATEGY
Table of ContentsINTRODUCTION...........................................................................................................................3PART 1............................................................................................................................................3a.) An assessment of the extent to which Aldi’s missions, visions, objectives, goals, core.......3competencies inform strategic planning. ....................................................................................3b.) Analysis of the factors to be considered by Aldi when formulating their strategic plans.....4c.) To evaluate the worth or usefulness of techniques used while planning the strategy for anybusiness ......................................................................................................................................5d.) An organisational audit for ALDI to provide an analysis of their current strategic position.....................................................................................................................................................6e.)An environmental audit for ALDI showing both micro and macro environment..................7f.) Significance of stakeholder analysis for ALDI when formulating new strategy...................9a.) Identification of a market (new or existing) and analysis of the appropriateness of suitablestrategy for ALDI in relation.....................................................................................................10to substantive growth, limited growth or retrenchment...........................................................10b.) Justification of one of the strategies for market entry and growth .....................................11TASK 3..........................................................................................................................................12a.) An assessment of the roles and responsibilities of personnel involved in the....................12implementation of the strategy .................................................................................................122.) Analysis of the resource requirements for the implementation of the strategy...................13REFERENCES..............................................................................................................................14
INTRODUCTIONIt is essential for each and every organisation to formulate business strategy to survivesuccessfully in this competitive environment. Strategy can be defined as a planning andexecution of the decisions taken by the managers to achieve the objectives. It is really needed tocreate a competitive advantage. It is a kind of long term plan for a business. With the help ofstrategic management it can be easily carried out. Company's top management is there to plan allthese on behalf of the owner. It is a significant factor which leaves a good impression on thecustomers . This will really help to explore the business. To explain the importance of this , aninstance of ALDI company is taken which is one of the leading discount supermarket chainbased in Germany. In this report it is bring into the focus that strategic planning is very importantto beat the rivals.PART 1a.) An assessment of the extent to which Aldi’s missions, visions, objectives, goals, corecompetencies inform strategic planning. Every company has to set some vision to achieve a particular goal . This helps a companyto become successful. Similarly , ALDI has also set business particulars to outburst in themarket.MISSION: ALDI is a German based supermarket store for food,beverages,sanitaryarticles,household goods etc. with 10,366 number of locations. The mission of this company is toexpand its business at alarming rate and hence it has come out with its new ranges like: ALDItalk, ALDI liquor, Diskont etc.In this way it has set mission to open many more store to keep itscustomers satisfied. VISION: It has some set ethics to attract the customers. The company has a vision tomake the products affordable for general customers along with the quality. It has a policy toinvest less in advertisement and this price saving will go on to the customers. The companyoffers various discount schemes to keep the individuals happy. The company focus on fiveimportant aspects (Armstrong,and et.al., 2015). They are: quality, special employees,savings,values and confidence.
Objectives and goals: The company aims at covering more and more areas to expand itsbusiness and try to introduce new ranges of products which is not known by any other one else.This is to maximize its profit share by attracting more number of stakeholders.Core competencies: These are the strategies which helps to lead the company in anymarket place. ALDI has its strict focus on pricing policy which is very advantageous forconsumers. Focus on its brand, small store size , minimal marketing policies are the other factorswhich keeps the company at the top level.From the above we can say that all these factors play a vital role to implement successfulbusiness strategy.b.) Analysis of the factors to be considered by Aldi when formulating their strategic plansStrategy should be planned in a systematic manner to achieve the competitive advantage.The company has to consider various factors to come at the top in today's scenario. The variousfactors that the ALDI company has to consider while making its strategy are as follows:It has to be product oriented also along with keeping in mind the needs of customers.It also has to consider the production processes so as to save the cost and increaseefficiency because price is important factor for any customer.The company also has to be market oriented. It has to consider the needs of market or theconditions prevailing in market . It has to plan the production in such a way so that it willput an impact of competition in the market with the help of innovations.It has to increase the range of the products for the ease of customers so that theindividuals get many things at one store only. ALDI has also done something related tothis .For example it has introduced many health and beauty products , stationary, softtools etc. ( Slack,2015).It has to put more emphasis over new ranges to increase its sales.Place is also one of the factor which decides the sales. It should be located at such a placewhich is more accessible to the individuals. The company has to take care of it whileopening any store.Employees consideration towards price saving is an important factor for the growth ofthis company. This cost saving policy is important to offer less prices to the customers.This should always be kept in mind. For example: by investing less in advertisement.Focus on cost and differentiation are the important factors to be considered while makingany strategy.
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