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Business Strategy of Aldi - Assignment

   

Added on  2020-06-04

17 Pages5875 Words66 Views
Business Strategy

CONTENTSINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................11.1 Assessment of the mission, vision, goals and objectives of the company.............................11.2 Analysis of factors to be considered while formulating strategic plans................................21.3 Evaluation of the techniques to develop business plans........................................................32.1 Organisational audit and analyses of strategic position of Aldi............................................42.2 Environmental audit for ALDI...............................................................................................52.3 Assessment the importance of stakeholder analysis..............................................................72.4 Presenting a new strategy for business..................................................................................8PART 2............................................................................................................................................93.1 Analysis for suitable strategy for Aldi...................................................................................93.2 Justification of selected strategy for Aldi............................................................................10PART-3..........................................................................................................................................104.1 Assessment of roles and responsibilities of person responsible for implementation ofstrategy.......................................................................................................................................104.2 Analysis of resource requirement........................................................................................114.3 Evaluation of contribution of SMART targets in achieving strategic objectives................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONStrategy is refers to be the guidelines which are formed by management to ensure thatgoals and objectives which are predetermined by the organisation are achieved (Acquaah, 2013).It lays down manner through which business will achieve its targets. Irrespective of the size of anenterprise, it is essential to form strategies so that operations of a business can be sustained in themarket. It helps in identifying the relevant opportunities in the market and formulates actions tocapitalise on the same. This assignment undertakes strategy formulation by Aldi. It is one of theleading supermarket chains in the United Kingdom. The emphasis in this assignment will be onthe evaluation of present strategy of the business. Choices will be formulated according to theneed of the circumstances and its implementation will be carried out in the end of this report. PART 11.1 Assessment of the mission, vision, goals and objectives of the companyAldi is a supermarket chain that needs no introduction operating in the United Kingdom.This organisation began their operations in the year 1946 courtesy of two brothers rememberedas Theo and Karl Albrecht. This institution has garnered a renowned name in the supermarketindustry of the United Kingdom. In the UK market exclusively company owns around 550 storesto carry out their operations covering a market share of approximately 5%. The company nowpossess around 7000 stores across the world and carries a turnover around 36.2 billion annually. Vision: Vision of the company justifies the purpose of its existence. The vision of Aldistates that, “To serve the needs of customer in the best and qualitative ways so that they feelproud of this organisation”. Mission: Mission states the direction in which operations are carried out. The missionstatement of this organisation is, “provide consumers with high quality offerings at extremelylow prices.” The company’s vision is to become best retail service provider in the country byoffering value to consumers without costing much. To achieve this vision, this organisation havebeen known to provide products which are priced comparatively lower to its competitors. Objectives: Objectives are referred to the short term targets which are established by anorganization particularly for a year. The primary objective for this organisation is to enhancetheir operation in this market. Major objective for this firm is to include this retail into the list ofmost preferable retailer in the market. Efforts of the company are aimed to enhance their sales1

volume by 20% by the end of this financial year. The employment of ideal marketing tactics isanother area which will be emphasized.Core competencies: these are referred to strengths of a business which are helpful indifferentiating them from their competitors. The major competencies of this business lies withtheir emphasis on the price. This organisation is offering qualitative goods at lower prices so thatneeds of major consumers are fulfilled. This organisation is bound to focus more on its own theirown products so to maintain in-dependency. Business strategy: the strategy which have been adopted by this retailer is costleadership. This organisation is known to cater limited variety of qualitative goods offered toconsumers at a lower prices. This approach further assist them in opting with lower marketingcosts and rely on word-of-mouth measures. The store are designed in the decent manner and arenumerous in number which makes it extremely convenient for consumers to avail services of thisinstitution. 1.2 Analysis of factors to be considered while formulating strategic plansIt is essential for the business to critically consider the crucial factors so that they areincorporated. Below is a brief description of the important factors which are to be consideredwhile formulating plans. Internal factors: The first area to be looked upon while making out plans for the future.This factor consists of factors such as, culture, ethics and policies of business. The reason behindthe same is that these components of the internal environment carry a significant impact on thefuture strategies of the business Blackburn, Hart and Wainwright, 2013). The company islooking to be a big player in the retail sector in British economy. Therefore to achieve the same itis essential to devote policies and development of organisational culture which contribute in theenlargement of the business.Stakeholders: these are refers to the individuals and organisation that are directly affectedby the decision of this business. The major stakeholders for Aldi are employees, managers,consumers and communities surrounding the business. An organisation carries obligations toeach one of them which are to be kept in mind while formulating plans for the future. Whileenlarging of operation, it is essential for business to consider the interest of all the concerned(Ferreira and et al., 2014). The employees are to be provided with the same opportunities to growas before. The welfare activities towards the society will still be carried out along with use of2

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