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Strategic Plan of Aldi Audit Report

   

Added on  2020-06-06

12 Pages3878 Words32 Views
BUSINESS STRATEGY

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Strategic planning..................................................................................................................31.2 Factors considered while making a plan...............................................................................41.3 BCG growth matrix...............................................................................................................5TASK 2............................................................................................................................................52.1 Organisational audit with current strategic plan of Aldi.......................................................52.2 Organisational audit of Aldi with micro and macro concept................................................62.3 Stakeholder analyses for formulating new strategy..............................................................7Task 3...............................................................................................................................................93.1 Market strategies...................................................................................................................93.2 justification .........................................................................................................................10TASK 4..........................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES...............................................................................................................................11

INTRODUCTIONBusiness strategy is a planning made by the companies in order to grow and expand inthe targeted market. This shows the mission which shows what they actually want to do toachieve success in the market and vision to see all the threats so that they can take correctivemeasures according to the situation occurs. This planning also defines the objectives that the firmwants to achieve with a specified goal in the market(Teece., 2010). This strategy gives very cleardescription that what should be done and what should be avoided to achieve efficiency in thefuture operations so that they can retain in the market by satisfying the customers and earningmore profit than others.TASK 11.1 Strategic planningMission : Mission refers to the target that is made by the company to avoid all the unwantedthing and achieve efficient so that they can fight the competition and retain in the market. ALDIis a retail firm and provides all the services to the citizen who participate in the development ofthe society so that they will be able to create independent economy.Vision : Vision refers to the power of seeing but in business this refers to the pre analysing althe factors that may turn into threat for their business . Pre analysing all the feature helps todetect the threats so that they can take the corrective measures on time. ALDI has both long termand short term vision. Its long term vision is to achieve the best position in the market and earnmore profit than others Its short terms vision is to achieve efficiency in the work that is done byemployees as this will help them to run their business for long run(Astrachan., 2010).Objective : It is he part of planning that translate the process into actions as this clarify thepurpose of the business and help in identifying the necessary actions and helps in achieving theprofitability ALDI has very specified objectives as its main aim is serve the best to its customersby achieving efficiency in the work so that they can earn sufficient profit and retain in themarket for a longer period.

Goals : Goals refers to the target that is achieved by the firm as this decides that in future firm isthere or not in the market ALDI company is a retail firm and that too very famous in the marketthat's why its main goals is to earn more profit than others so that they can retain in the marketby satisfying the customers to the core. Efficiency is the only thing that will help the firm in thegrowth and expansion of their firm.Core competencies : Core competencies defines the competition for the company in the targetmarket. ALDI is a very fast growing firm that's why it has many competitors in the marketbecause it is earning more profit than others(Verbeke., 2013).1.2 Factors considered while making a planThere are many factors that are to be considered by the firm to avoid all the unwanted changes inthe business environment. Some factors are as follows:Competitor Strategy: This is a strategy made by the competitors so that they can defeat the latterone and retain in the market by holding very strong position by earning more profit. Byanalysing the competitor strategy the firm can take its moves accordingly by rectifying al themistake with the help of with the help of corrective measures so that they can earn more profitand retain in the market for longer period. ALDI Company analyse the competitor's strategy sothat they can make their move more efficient as this efficient move will help them and bringsgrowth and expansion. ALDI Company analyse all the planning of the competitors so that theycan make the better planing to defeat them by holding more customers on their side in thetargeted market.Change in consumers behaviour : This is one of the most important factor as consumer can makethe business and break the business because they have the power with them. Consumerbehaviour refers to the choices and the preferences of the consumers that changes according totime and if the company want to retain in the market then it need to work according to the needand preferences of the costumers. ALDI Company work according to the need and wants of theconsumers as they know what consumer mean to the company who wants to retain in the market(Teece., 2010). They satisfy the customers by full filling their demand so that this an help them tortain in the market for longer period.Economic condition : This condition is related to the economy that deeply affects the market inall the way possible. This condition includes all the economic factor that affects the business inevery way possible. Economic factors are like demand and supply that means how much the

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