Business Strategy and Performance Analysis

The provided document contains a collection of research articles and studies related to business strategy and performance analysis. It covers topics such as internal drivers and green business strategy, human resource management in innovative projects, business strategy and managerial expectation, and cost stickiness in China. The document also includes references to various books and journals on the subject, providing a thorough understanding of business strategy and its impact on performance.

Business Strategy

` ` ` TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1. Applying appropriate framework for analysing the macro environment............................1
M1 critically analyzing the macro environment for determining and informing strategic
management decision...................................................................................................................4
Lo 2 .................................................................................................................................................4
P2 Analyzing the internal environment and capabilities of marks and Spencer..........................4
M2 Determining the internal environment for assessing strength and weakness of marks and
Spencer organization....................................................................................................................8
Lo 3 .................................................................................................................................................9
P3 Applying porters five forces model .......................................................................................9
M3 Appropriate strategies for improving competitive edge and market position.....................10
Lo 4 ...............................................................................................................................................11
P4 Applying range of theories and concepts for devising strategic planning............................11
M4 Strategic management plan................................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Business strategy can be defined as the plan or tactics which are adopted by an enterprise
for accomplishing desired business objectives. It can also be considered to be as long term
business planning. Business strategy includes detail about the various activities which will be
executed by an organization for accomplishing desired targets. Formulation of business strategy
support manager in analyzing the strength as well as weakness of firm. It also supports
management in exploring and capturing various business opportunities. Strategic management
helps management in ensuring effective as well as efficient utilization of resources. It is required
by manager in an organist to formulate business strategies by facilitating internal as well as
external analysis. An effective strategy is required for providing an appropriate response to
changes in business environment. Proper business strategy helps an enterprise in expanding
business and achieving success.
The present report have focus on analyzing the impact of macro environmental factor on
the business operation of marks and Spencer. It will also have emphasizes on determining the
internal capabilities as well as environment of an organization.
LO 1
P1. Applying appropriate framework for analysing the macro environment.
Marks and Spencer is a British multinational company which has its headquarter in
London. An organization specialists in offering luxury food as well as home products, clothes
etc. Business entity has number of stores located at different location which enables firm to
deliver products or services to wide number of customers. Marks and Spencer has become the
well known brand in British high street. An organization have focus on fulfilling the wide range
of customers needs and demands. Marks and Spencer has to face competition in both domestic
and international market. Home and fashion retailers are big competitors of marks and Spencer.
An enterprise is popular mainly for selling trendy w omens wear.
Mission : An organization mission is to provide high level of satisfaction to its internal and
external stakeholders. Internal stakeholder of marks and Spencer company are employees, board
of directors etc. External stakeholders are customers. Other mission of an enterprise is to provide
higher return to its shareholders.
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Vision :Marks and Spencer vision is to achieve leading position in an industry. Other mission of
company is to make inspirational quality accessible to everyone, through the depth and range of
its products.
Objective : To serve the best quality of products to customers at reasonable price. Other
objective of marks and Spencer is to provide good quality as well as innovative product to its
customers.
Aim : Marks and Spencer aim is to earn high revenue and generate more sales. In addition to this
business entity is aiming to make continuous investment retail business.
Business strategy can be defined as planning before doing. It is important for manager in
marks and Spencer to set Smart goals and to execute activities as per the tactics planned, as this
strategy will assist an organization in achieving desired objectives. Proper planning assist an
enterprise in achieving various benefits. Business strategy can be considered to be as a road map
which assist management in identifying the activities which are required for accomplishing
desired business objectives.
Better time management planning is very much crucial for accomplishing desired targets.
It is required by manager in marks and Spencer to conducts internal as well as external analysis
before formulating a business or strategy, as this will help firm in elimination any kind of errors.
It will also help management in analyzing the factors which can have influence on business
strategies. There are various tools which can be used by manager in an organization for
executing internal and external analysis are Pestle and Swot. Pestle analysis is considered to be
as an appropriate technique fore analysis the influence of external or macro environmental
factors on business plans and operations.
Pestle analysis of marks and Spencer organization
Political factors : These variables have direct as well as significant effect on business plans and
operations. Political factors includes political situation in the nation, change in rules, etc. As
marks and Spencer operating business in UK, EC trade agreement has favored business entity, it
has led to the reducing in sourcing cost. As marks and Spencer is operating business at global
level, high cost structure is major disadvantage for firm. In addition to this lack in clarity of
various policies formulated by government in the nation have negative impact on business. It is
required by the manager in marks and Spencer company to formulate an effective strategy as this
will help business entity in providing an appropriate response to such type of changes. In
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addition to this, company can participate in social as well as cultural activities, as this strategy
will help firm in gaining support of political parties in context of expanding business and
fostering growth. It will also support firm in generating brand awareness among customers which
is very much important in context of accomplishing desired business targets.
Economic factors: It includes increase or decrease in exchange rate, fluctuations in prices of
products, economic conditions of country, etc. All these variables have direct as well as
significant effect on financial performance of company. It also has great influence on the buying
power of company. In context of marks and Spencer, business entity is greatly effected by the
discounted pricing strategy adopted by its competitors. Implementation of miscounted pricing
strategy has direct effect on the profit margin and sales of an organization. It is required by
manager in marks and Spencer to adopt flexible pricing strategy, as this will help business entity
in reducing the negative effect of these factors on profitability and sales. In addition to this
financial crises has led to price sensitive customers, it is required by an organization to adopt low
pricing strategy, as this will assist firm in improving financial performance.
Decrease in the exchange rate has enabled marks and Spencer to gain transaction benefit.
Social factors: these variables includes change in demand, taste, preference of customers.
Continuous changes in social factors encourage firm to develop new products. In addition to
these trends have direct as well as continuous influence on production plans. Due to continuous
changes in social and cultural factors, it has become challenging for marks and Spencer to
maintain balance between demand and supply. It is required by marks and Spencer to conduct
market research at regular interval of time and produce goods according to the taste as well as
preference of customers.
Technological factors: Advancement in technology has enabled business entity to bring
improvement in quality of product or services. It has supported firm in promoting goods and
services at large scale. But at the same time technological advancement has given rise to intense
competition in an industry. It is very important for marks and Spencer company to marks its
online presence as this strategy will assist business entity in increasing sales . I”t will also help
firm in maintaining its position in the market.
Legal factors : As marks and Spencer is operating business at international level, it is very much
important for an organization to develop understanding about different laws and comply with all
norms. Failure to comply with the laws might have negative effect on the sustainability of
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company in global market. Changes in monetary policy of government has enabled marks and
Spencer to gain various benefits.
Environmental factors: it involves climatic conditions, changes in environmental act,
competition in industry etc. All these factors have direct as well as significant impact on the
business. In context of marks and Spencer, changes in environmental act has direct effect on the
quality standards set by manager in an enterprise. It is very much crucial fore marks and Spencer
to use technology for the purpose of recycling waste. As this strategy will assist an enterprise in
reducing the wastage of resources and will also aid firm in preventing legal issues.
Environmental factors have less effect on marks and Spencer , as an enterprise is already
showing its concern about environment.
M1 critically analysing the macro environment for determining and informing strategic
management decision
The changes in various micro as well as macro environmental factors have both positive
and negative effect on business. Political, legal, environmental, economical , social and
technological changes have direct influence on management decision. For instance,
implementation of discounted pricing strategy has encouraged managed to make decision related
to lowering the price of their product. Manager in marks and Spencer have focus on identifying
an appropriate way to reduce cost of production as this strategy will assist business entity in
reducing the negative effect of economic factor on sales and profitability (Cubas‐Díaz and
Martínez Sedano, 2018). It is required by management in marks and Spencer to employ advance
technology at workplace, by implementing this strategy firm will be able to reduce the cost of
production. This strategy will assist an organization in delivering products or services to
customer at low cost.
Lo 2
P2 Analysing the internal environment and capabilities of marks and Spencer
Swot analysis is considered to be an effective technique which can be used by manager in
marks and Spencer for analyzing the internal strength and weakness of company. This is an
appropriate technique as it enables management to identify suitable ways for increasing strength,
overcoming weakness. Swot analysis also support manager in exploring and capturing various
business opportunities. It allows manger to address suitable methods for dealing with threats. By
using the swot actual condition of business can be analyses (Belton, 2017). It is required by
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manager in marks and Spencer to conduct swot analysis before planning, as this tactic will assist
management in determining an appropriate strategy for achieving desired targets.
Strengths :
An effective infrastructure: It has enabled
marks and Spencer to deliver services quickly
to customers. An organization has made huge
investment on IT, logistics, this strategy has
supported business entity in becoming multi
channel retailer.
Effective corporate social responsibility:
marks and Spencer is mainly concerned about
fulfilling corporate social responsibility which
has assisted an enterprise in gaining customer
loyalty. Business entity has focus on improving
lives of its customers which has enabled
organization to get ease in achievement of
desired goals.
Innovation : Marks and Spencer have focus
on developing and launching new products in
the market. This strategy of marks and
Spencer has assisted business entity in gaining
the leading position in industry. It has also
provided firm an ease in attracting more
number of customers.
Diversity : Marks and Spencer company has
large number of highly talented and skilled
workforce which has helped firm in expansion
of business. High performing and well trained
team of workers has enabled disorganization to
deliver professional service to customers. It has
enabled an enterprise to provide high level of
Weakness:
Failure to penetrate in international market:
Marks and Spencer has been failed in winning
customers primarily because most of their
designs are western and not traditional.
Low customer satisfaction level: Unclear
product return policy of firm has given rise to
the number of issues which has led to high level
of dissatisfaction in customers. Such type of
issues faced by customers have negative effect
on the reputation of organization. It also has
negative influence on customer behavior
towards company.
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satisfaction to clients.
Opportunities:
In addition to this, marks and Spencer has
chance to improve its supply chain network.
Business entity has an opportunity to mark its
online presence, as this strategy will assist firm
in increasing sales and profitability.
As marks and Spencer is well known brand, an
organization has chance to form strategic
partnership with other companies as this
strategy will assist enterprise in improving
customer services.
Threats:
Thereat of implementation of discounted
pricing strategy by competitors.
As marks and Spencer is operating business at
international level, Change in legal as well as
political factors can have great effect on its
business.
Core competencies of marks and Spencer: An organization have team of highly talented
employees. In addition to this, implementation of technology has enabled business entity to
deliver quick as well as quality services to customers. In addition to this, marks and Spencer is
strict and have focus on pricing (Walsh and Reid, 2017). Cost leadership strategy, marks and
Spencer stocks a limited number of goods, which are of high quality offers them at competitive
pricing. They attain their leadership status based on the prices which they offer to their
consumers.
Mc kinsey model
It is considered to be an appropriate framework which can be utilized by manager in
marks and Spencer for measuring an effectiveness of business. Mc kinsey model states that there
are seven internal factors in a company which are required to be aligned as well as reinforced in
order to achieve success. These seven elements are :
Strategy: Marks and Spencer has adopted unique strategies which has helped an organization in
gaining competitive advantage in the market. In addition to this, an effective promotional
strategies has helped an organization in accomplishing desired marketing objectives. It is
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required by marks and Spencer to adopt innovation strategy, as this will assist an enterprise in
attracting more number of customers (Gans, 2017). It will also enable business entity to remain
competitive.
Structure: marks and Spencer has flat organizational structure which helps manger in making
quick business decisions. It is required by manager in an organization allow employees to
participate in decision making procedure.
System: manager in an organization has set some standards on the basis of which various
operations as well as activities are executed by staff. Monitoring and controlling is the
responsibility of leader. It is the duty of leader to ensure that all the operations are executed as
per the prescribed standards and guidelines.
Shared value: manager in marks and Spencer has formulated, implemented and communicated
code of conduct to employees. The different rules and regulations are enforced by management
in an enterprise for positively influencing the behavior of workers. It is required by manager in
marks and Spencer to provide clear as well as detailed guidelines to workers in order to inform,
employees about shared values relate to the actual accepted behavior within the workplace
(Bentley-Goode, Newton and Thompson, 2017).
Skills: Human resource management in marks and Spencer has focus on hiring talented and
skilled staff. Lengthy recruitment procedure is executed by human resource manager in marks
and Spencer for judging the knowledge as well as skills of candidate. Personal interview,
screening, test are conducted for determining the abilities of an individual (Shepherd and Toms,
2017).
Style: Management in marks and Spencer has used system approach for managing people as well
various activities in company. Leader in an organization has adopted the participative leadership
style which has enabled them to analyses the behavior as well as performance of employees. “It
has enabled leader to provide regular feedback to workers and has enabled them to motivate
individual for improving their performance at workplace (Zhong and Li, 2018.). Manager has
supportive nature which has enabled them to develop an effective culture within an organization.
Staff : Marks and Spencer has larger and high performing workforce which has assisted business
entity in expanding business operations. All the employees in an enterprise are well trained.
Workers are prepared for dealing with complex as well as critical situation in business.
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M2 Determining the internal environment for assessing strength and weakness of marks and
Spencer organization.
Vrio or Vrin analysis is considered to be as an effective technique which can be used by
manager in marks and Spencer for determining the strengths which can be gained from utilizing
business resources. This technique will assist business entity in identifying an appropriate
technique for gaining competitive advantage in the market. It is analytical technique which can
be applied for evaluating organization resources VRIN analysis of marks and Spencer
Value : marks and Spencer organization has expensive as well as valuable resources. Business
entity has employed the latest technology, plants and machinery which has helped business entity
in reducing cost of operations. In addition to this, the latest technology has been utilized by firm
in production department which has supported company in increasing productivity and working
efficiency. It has enabled business entity to bring improvement in quality of products or services.
In addition to this, brand recognition is considered to be as valuable. Stores of marks and
Spencer is located at central location which has provided customer an ease in accessing to the
products or services offered by an enterprise (Apenko, 2017).
Rareness : An organization does not have rare resources. As all competitors of marks and
Spencer is utilizing same resources which are used by firm. It is required by marks and Spencer
to develop innovative product, as this strategy will enable company to differentiate its products
from that of its competitors.
In addition to the above, innovative products which are produced by marks and Spencer
using technology is rare, which has helped an organization in attracting more number of
customers (Carlier,Costamagna and Parra, 2017.). It has enabled business entity to differentiate
its products from that of its competitors. Innovation has enabled organization to sustain
competitive advantage.
Immitability: products offered by marks and Spencer are imitable. It is required by marks and
Spencer to concentrate on the quality of goods, as this strategy will help business entity in
differentiating their products from that of competitors.
Organization: Marks and Spencer has the capability to develop innovative products using
resources. All the activities are organized in systematic manner which has provided firm an ease
in achieving success and fostering growth. In addition to this, employees in organization are well
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trained which has enabled manager to ensure effective as well as efficient utilization of business
resources.
It has been interpreted from the above information that changes in political, social,
economic, technological, legal and environmental factor have great influence on the business
activities of marks and Spencer. But at the same time, rise in tax can provide an organization a
chance to increase prices of its products.
It has been interpreted from the above that marks and spec er has gain popularity in
domestic market and organization has wide customer base using which it can enter into global
market. Business entity has valuable resources using which firm can facilitate innovation. But
brand recognition or popularity is not important in order to enter into international market.
Lo 3
P3 Applying porters five forces model
Porters five force model is considered to be as an appropriate framework which can be
used by manager in marks and Spencer for measuring an effectiveness of industry. This
technique is useful as it helps management in identifying the variables which might have positive
or negative effect on business.
Threat to new entrant: There are big entry barriers, due to which there are fewer chances of
entry of new firm in the market. As retail sector is very big which requires lot of capital
investment which is not possible for small companies to do so, this is another reason for less
chance of new entry in industry (Leonidou, Christodoulides and Palihawadana, 2017.).
It is required by marks and Spencer organization to concentrate on the quality of products
or services, as this strategy will help firm in gaining customer loyalty.
Threat substitute products: As there are companies with good financial strength and they also
have sufficient resources using which competitors can develop substitute products. It is very
much important for marks and Spencer to develop innovative products, as this strategy will assist
business entity in maintaining its position in the market. It will also help an organization in
gaining competitive advantage. In clothing sector, it is easy for competitors top copy the design
and develop similar products (Habib and Hasan, 2017). Marks and Spencer in order to deal with
such issue is required to develop its own brand label, as this will help firm in differentiating their
products from that of competitors. Hence, threat of substitute is high in retail sector.
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Bargaining power of buyers: As there are many companies offering same products at different
prices , customer can force company to reduce price. In addition to this, switching cost is also
low, customers can switch to other brand easily. It is important for manager in marks and
Spencer to formulate strategies for delivering high value to customers, as this will assist business
entity in gaining customer loyalty. Manager should develop effective as well as clear policies
which will assist enterprise in attracting more number of customers.
Bargaining power of suppliers: competitive pressure has forced marks and Spencer to
outsource some of its business activities and reduce costs which has leads to weakening of
suppliers bargaining power. In addition to this, marks and Spencer is well known brand, many of
suppliers are ready to enter into contract for earning higher profits. In such situation, company
has power to negotiate with suppliers and force them to reduce price.
Competitive rivalry among existing firm: competition in retail sector is high and intense.
There is continuous rise in competition in online segment. Marks and Spencer organization need
to adopt unique promotional strategy, as this will assist business entity in gaining competitive
advantage (Peng, 2017).
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Illustration 1: Porters five force
Source:(Strategic Management Insight, 2019)

M3 Appropriate strategies for improving competitive edge and market position
Differentiation strategy: It is required by marks and Spencer company to develop
innovative products and create own label. As this strategy will assist business entity in
differentiating its products from that of competitors.
Cost leadership strategy: Marks and Spencer by offering quality products can gain
competitive advantage. Cost leadership strategy will help firm in attracting more number of
customers. It will also assist business entity in reducing cost of production.
Focus strategy:It is very much important for marks and Spencer to concentrate on
delivering quality products to customers, as this strategy will help an enterprise in maintaining its
position in the market. Marketing manager in marks and Spencer need to concentrate on
promotional activities, as this will help firm in increasing marketing objectives (Bentley-Goode,
Omer and Twedt, 2017).
Bowman strategic clock
Low value/low price: It is the position which marks and Spencer generally avoids.
Low price/Low cost leaders: It is the position where marks and Spencer sells products or
services at low price in order to earn minimum profit.
Hybrid price: Marks and Spencer offers products or services at low price
Differentiation : companies decreases the prices of products or services in order to increase
market share.
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Focused Differentiation : Under this strategy, organizations targets single segment of the
market.
Increased price: It is the strategy which has assisted marks and Spencer in earning high
profit.
Higher price/low value : This strategy emphasizes on monopoly Pricing.
Standard price/ low value : There is no product of marks and Spencer which can fit this.
Lo 4
P4 Applying range of theories and concepts for devising strategic planning
Strategic planning can be defined as the procedure of outlining a long-term vision for a
company. It is required by manager in marks and Spencer organization to develop strategic plans
by considering both internal and external factors. Management should involves stakeholder in
decision making procedure, as this strategy will assist an enterprise in developing an effective
strategic plan.
Tactics: Marks and Spencer has adopted customer satisfaction strategy which emphasizes on an
annual client event, there are a number of activities which must be completed in order for the
event to happen. These are the tactics, which include due dates, deliverable, and are assigned to
specific people for execution. For instance, Marks and Spencer will implement annual client
conference for that role of manager is to set date and decide venue. At the next phase, agenda
will be prepare for attracting as well as inviting customers. An organization will email and
telephone , social media sites as a communication medium for inviting people.
Strategies :There are various strategies which will be implemented by an organization for
achieving desired objectives. Marks and Spencer has designed customer event strategy for
improving customer satisfaction. Business entity has planned to adopt customer concentric
approach for providing high level of satisfaction to client. An enterprise has decided to conduct
market research at regular interval of time, this tactic will be applied by an organization for
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identifying the needs and demands of customers in the market (Yuliansyah, Gurd and Mohamed,
2017.). Human resource manager in marks and Spencer organization has planned to provide
training to employees, as this will help awn enterprise in delivering professional services to
clients.
Focus strategy : As per this strategy, business entity can focus on fulfilling the demands or needs
of specific customer group in international market by offering them with goods or services. In
context of marks and Spencer, an organization has adopted geographic segmentation strategy.
Resources: Technology, finance, human are some resources which will be required for
implementing the tactics or strategies for accomplishing objectives.
Objectives: The main objective of marks and Spencer organization is to increase customer
satisfaction. Other objective of company is to increase sales by 5 to ten percent within six
months.
M4 Strategic management plan
Tactical objectives: the tactical objective of marks and Spencer organization is to provide
training to its employees and enable them to develop various skills which are required for
executing various business activities.
Tactical plans : These types of plans are developed by manager in an organization to achieve
desired tactical objectives (Cagnin, 2018.). It is mainly designed for helping employees in
identifying their roles as well as responsibilities for driving an organization towards achievement
of business goals.
Strategic analysis: It is the analysis which represents the companies position in the market. In
context of marks and Spencer, manager in an enterprise can execute internal analysis. Mission of
marks and Spencer is to make 'aspirational quality accessible to all', and this is truly the case
with the company's technology.
Strengths :Strong offerings with the latest
industry trends: marks and Spencer offers wide
variety and range of products to its customers.
In addition to this, business entity designs
goods on the basis of current trend in industry,
Weakness: Supply chain scale ability: Poor
scale ability of supply chain is considered to be
as biggest weakness of company. Due to poor
supply chain management, marks and Spencer
has failed to supply goods or services on time
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this strategy has helped business entity in
attracting more number of customers.
to their international clients.
Opportunities: New segments: Marks and
Spencer can enter into new market. In addition
to this business entity can offer traditional as
well as ethnic wear as these are the products
which will have high demand in the future.
Threats:
Increase in competition : The biggest
competitors of marks and Spencer are Zara,
Uniqlo , Tesco etc.
Strategy formulation : It is the procedure which includes the following :
Establishing the vision :Vision, experience, and expertise are helping Marks & Spencer regain its
leadership by meeting the changing needs of customers, and improving our competitiveness.”
Setting strategic goals: Strategic goals of an organization is to increase market share.
Recognizing the strategic substitute: According to porters generic strategic model there are
different strategies which can be adopted by marks and Spencer are :
Cost leadership: Marks and Spencer organization can enter into international market by keeping
the prices of products or services low. As this strategy will help an organization in gaining the
competitive advantage in the market. It is about minimizing the cost of delivering goods. By
implementing the cost leadership strategy, an enterprise can achieve leadership position in
industry in context of cost. . Cost leadership strategy will assist marks and Spencer in attracting
more number of customers.
Differentiation strategy : marks and Spencer can into global market by developing as well as
launching innovative product. In context of marks and Spencer, it includes selling quality goods
or services at low price.
Evaluating as well as selecting strategy : Cost differentiation strategy will be implemented by an
organization in order to enter into new market.
Strategy implementation : Action plan will be developed by manager in marks and Spencer in
order to demonstrate the way all functions of an organization works together for accomplishing
desired objectives.
Strategy control:'Periodic feedback and continuous monitoring is the technique which will be
implemented in order to control the different activities during the implementation procedure.
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CONCLUSION
It has been concluded from the assignment that business planning as well as operations
are completely based on business strategy and market situation. Study has concluded that
formulation of strategy is very much important in context of providing appropriate responses to
changes in business environment. It has also been concluded that swot analysis is appropriate
technique which can be used for assessing internal strength and weakness of firm. Report has
concluded that Pestle analysis is effective technique which can be used for analysis the influence
or effect of changes in micro environmental factors on business. It has also been concluded that
changes in internal and external factors have great effect on business performance. Report has
concluded that competitive strength of an organization is completely based on the way resources
are used.
There are various strategies are strategies which can be adopted by manager in an
organization for dealing with various changes.
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