Assignment on Business Strategy
25 Pages6294 Words52 Views
UK College Of Business And Computing
Added on 2020-05-28
Assignment on Business Strategy
UK College Of Business And Computing
Added on 2020-05-28
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Running head: BUSINESS STRATEGYBusiness StrategyName of the Student Name of the University Author Note
1BUSINESS STRATEGYTable of Content Introduction......................................................................................................................................3Part 1:...............................................................................................................................................3a) Extent to which Aldi’s mission, vision, objectives, goals and core competencies informstrategic planning.........................................................................................................................3b) Analyzing the factors considered by Aldi when formulating their strategic plans.................5c) Evaluating the worth of the techniques used when business develop their strategic plans.....6d) Organizational audit for ALDI and providing an analysis of their current strategic positions.....................................................................................................................................................7e) Environmental audit for ALDI showing both micro and macro environment........................9f) Significance of stakeholder analysis for ALDI when formulating new strategy...................12g). Presenting a new strategy ALDI can follow........................................................................13Part 2:.............................................................................................................................................14a) A new market and analyzing the appropriateness of suitable strategy for ALDI..................14b) Justifying one of the strategies for market entry and the growth discussed above...............16Part 3-.............................................................................................................................................17a) Providing an assessment of the roles and responsibilities of personnel who are involvedwith the implementation of the strategy....................................................................................17b) Providing an analysis of the resource requirements for the implementation of the strategy19
3BUSINESS STRATEGYIntroductionThe following report consists of the strategies that ALDI uses and will use to achieve theoperational objectives. The purpose of the report is to derive understanding about the strategicchoices including the strategic planning, strategic terminology, planning systems and otherrelevant techniques. The report starts with giving an evaluation of the degree to which Aldi’smission, vision, objectives and competencies aligned to the set of the strategies. The report alsosheds light on the factors considered by ALDI when developing their strategic plans. Anenvironmental audit for ALDI traversing micro and macro environment has been discussed usinga Porter’s five forces analysis tool. Likewise, the significance of stakeholders has been discussedwith appropriate stakeholder analysis theories. Part 1: a) Extent to which Aldi’s mission, vision, objectives, goals and core competencies informstrategic planning One significant approach of ALDI is to promote quality as well as value aboveeverything. Major practice of Aldi is to create efficiencies at every level from development ofstore to in-store display. This practice ensures that price could be low and savings can be passedto customers. The most significant fact is that Aldi’ strategies are aligned considering mission,vision, objectives, goals and core competencies. How these elements are aligned to strategicplans of Aldi has been discussed in the following.Mission
4BUSINESS STRATEGYMission statement is usually is treated as the commitment that a company expects to meetthe expectation of the stakeholders. It explains how organization runs its business, identify theircustomers and identify the range of their products and services. For example, the missionstatement of ALDI: The mission of the supermarket giant ALDI is to provide value and quality to allcustomers. ALDI focuses on the comfort and safety of its customers. Modesty andundemonstrative functionality characterize its conduct. This above-mentioned mission statement conveys the message that when developing aparticular the strategic plan, the firm thinks of its customers’ value and benefits, which means themajor stakeholder –customers are satisfied, business runs profitably. VisionAs put forward by Morgan (2012), vision statement describes vital and sophisticated outlook ofthe firm in the future. It certainly implies growth, potential advantages of the organization to thestakeholders and investors. ALDI’s vision is to become responsible and continue in a reliable manner to set standardsin the retail food sector and persistently reinforce its market position. Goals and objectives The major goal of ALDI is to offer the customers the products that they make purchasesof the goods on a regular basis and make sure that those items have high qualities at the lowestprice. A simple objective that Aldi follows is to offer customers a smartest way to shop. The firmis looking for new suppliers to make this happen.
5BUSINESS STRATEGYThe mission, vision, goals, and objectives of ALDI are aligned with its stakeholders valueand benefits. Customers’ value and benefits are highly considered in strategic goals and mission.Likewise, ALDI’s partners are also benefitted from the strategic plans, because even in the tougheconomic climate firm’s business continue to develop and when firm’s operation grows, so itspartners can.Core competency of ALDI The core competency of ALDI is its stiff focus on price but following are some of effectivecriteria to ensure the sameCost leadership: ALDI stocks a limited amount of goods, which are of high quality and providethem on competitive pricing. Most importantly, the organization tends to attain their leadershipstatus on the basis of the price they provide to third buyers. Focus on the brands: The official website of the organization indicates that they focus payattention to their brands to remain independent, which enables them to ignore high marketingcosts associated with the national and to prepare their own product, policies and price. How these strategies informed ALDI’s strategic planning: Cost leadership and focus on the brands help ALDI to decide on the cost of operation, whichmeans the organization wanted to minimize the cost of operation to gain the competitiveadvantage. ALDI designed small stores, which are easy to find, as they are founded nearby toeach other and saves the logistic cost. On the other side, it is certain that ADLI does not hirecasual staff; the organization has less staff but salaries of the employees are comparable. Theycontribute a large amount on the supermarket design.
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