Assignment on Business Strategy - Aldi

   

Added on  2020-06-05

16 Pages4974 Words96 Views
Business Strategy
Assignment on Business Strategy - Aldi_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 The way ALDI's vision, mission, core competencies and objectives inform strategicplanning.......................................................................................................................................11.2 Factors to be considered while strategic planning formulation............................................21.3 Effectiveness of methods used when developing strategic planning....................................3TASK 2............................................................................................................................................42.1 Organisational audit of ALDI...............................................................................................42.2 Environmental audit of ALDI...............................................................................................52.3 Significance of stakeholder analysis when implementing new scheme................................62.4 Presenting an innovative strategy for ALDI.........................................................................8TASK 3............................................................................................................................................93.1 Appropriateness of alternative strategies linked to market entry..........................................93.2 Justifying the strategy selection for ALDI............................................................................9TASK 4..........................................................................................................................................104.1 Roles and responsibilities of personnel who charged with strategy formulation................104.2 Estimated resources required in order to implement new strategy.....................................104.3 Contribution of SMART objectives....................................................................................11CONCLUSION ............................................................................................................................11REFERENCES .............................................................................................................................122
Assignment on Business Strategy - Aldi_2
INTRODUCTIONBusiness strategy can be stated as a process in which plans and strategies are being madein order to attain the objectives and goals of firm. This can also be stated as a process as scienceand act of marshalling along with planning of resources in order to make the best use of it(Business Strategy, 2015). In simple words, business strategy can be stated as a process of longterm policy along with plan of action for accomplishing certain targets and goals. This in turnwill help in enhancing turnover of the firm along with sales within specified tenure. This reportis based on ALDI which is a retail and supermarket chain across the globe. There are certainthings which will be discussed in this report like mission, vision, and other various elementswhich are utilised in the formation of strategic planning. Apart from this, organisational andenvironmental audit of ALDI will also be discussed. Further, SMART objectives of companywhich will be determined as well. TASK 11.1 The way ALDI’s vision, mission, core competencies and objectives inform strategic planningStrategic planning: This can be stated as a process which mainly cover the strategies andthus, it is being followed by each and every kind of organisation for achievement of objectives.This in being done with the motive of determining usage of resources and managing up thedrivers which impacts the process of business. Mission: The main motive of the firm is to attain the desired aim and objectives of firmwhich are beings set. This provides assistance in market size of ALDI and thus encourage thestakeholders by tackling performance of strategies utilised by the company. For example: in caseof ALDI the mission aspect is “Top product and services quality at incredible low costguaranteed”. With the aid of this kind of statement, maximum satisfaction should be provided toall clients by developing essential values within the kind of digitalisation and services(Ackermann and Audretsch, 2013). Vision: This can be stated as a motive for which the business is launched. This is a longterm process that mainly provides assistance in attaining certain objectives. In case of ALDI,vision statement is “To revolutionize or modify the grocery sector with an attractive and uniquebusiness model”. From this point of view, objectives will be acquired through strategic planningalong with the parameters set for the attainment of objectives. 3
Assignment on Business Strategy - Aldi_3
Goals: There is particular destination which is being chosen by the owner beforeimplementation of business strategies. Basically, there are two types of goals described as below:Short term goal: These types of goals provide assistance to company in order to makethem face regular difficulties and thus, manage the whole process. For example: in ALDI,short term goals are basically innovative and creative way to attract millions ofcustomers. Long term goal: These types of goals are being manufactured in order to accomplish thetargets which are being set up by company. For example: ALDI's long term goal is toattain the leading position in marketplace. Objectives: The main objective of the firm which is ALDI is to provide high level ofsatisfaction and utilise digital technology which can in turn can raise the sales ratio of thecompany along with expansion of business. Core Competencies: This is highly supportive in the strategic planning and also helpscompany to achieve company's main goals along with the competitive benefits. This also focuseson enhancing the skills and abilities of employees (Annabi and McGann, 2013). Aim of ALDI isto reduce cost of operations and increase the profit ratios for developing onto better positions andimage within marketplace. 1.2 Elements which includes in strategic planning formulationStrategic planning can be stated as highly essential element for the company like ALDIwhich can attain the long term goals. However, while planning there are some factors which arebeing involved and they need to be focused in deep manner. This becomes highly difficult for thecompany and its administration to select the forces against the precedence. There are fewcongruence of business process regarding the factors and priorities and this will in turn possiblychange the process. There are several elements which are needed to be active while enhancing the strategicplan suitably are follows: Managers: These can be stated as main factor of company who are mainly focused onhierarchy of business covers, Middle, Front Line and top level management. Designing is beingdone by the upper level of management within the company who are working towards theobjectives of the firm (Auzair, 2011). Targets are being classified in the middle level4
Assignment on Business Strategy - Aldi_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
The Business Strategy of Aldi
|16
|4896
|39

Business Strategy of Aldi company - Report
|14
|4862
|72

Business Strategy Report : ALDI
|16
|4796
|72

Strategic Planning in ALDI
|16
|5317
|452

Business Strategy of Aldi company : Report
|16
|5252
|68

Business Strategy Report of Aldi (Doc)
|17
|5472
|58