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INTRODUCTION Company Overview Waitrose is one of the well known food retail supermarket chain which forms a division of largest employee owned retailer of Britain. The firm is headquartered in Bracknell, England and has 352 branches all across the UK(Ackermann and Audretsch, 2013). It was establishedin the year 1904 by Arthur Rose, David Taylor and Wallace Waite. The company have 5.1% of marketshare which makes the firm sixth largest grocery retailer in UK.The enterprise has royal warrant of supplying groceries, spirits and wine to Queen Elizabethand Prince Charles. The firm began as small grocery retailer in Acton, West London. After 2 years, David had left business and from the name of remaining founders, the name “Waitrose” was adopted. In year 1937, enterprise consisting of 10 shops with160 employees and was taken over by John Lewis Partnership. It was purchased South Essex grocery business, Martin and Schofield in year 1944, which had 12 shops in supermarket chain. In 1951, theirhigh street shop was regenerate into self service store and be the first grocery store that is operated by Waitrose. Currently, the firm has 5.1% of food market share and in addition to this, Waitrose had 18% of organic food share. As of 2017, the estimated revenues of company is £5,400.4 million and its operating income is £173.5 million. There are around 91,000 employees working in firm and successfully run its business operations. By 2017, Waitrose had 352 stores across United Kingdom and it opened the first cashless shop under Little Waitrose brand. The advertising of firm focuses on unique selling point(Annabi and McGann, 2013). Their recent marketing has attempted to represent the business as more ethical in comparison to other supermarkets. In year 2011, the company introduced its loyalty card scheme as myWaitrose. Later, they began to provide 10% off to cardholders on selected products. Some portion of profits is donate by firm to charities on proportional basis. Along with this, Waitrose foundation was launched in 2005 which administering funds for worker facilities, education and health services. As a part of John Lewis Partnership, all employees of Waitrose are allotted the title of 'Partner'. Uniforms of all partners are different according to their departments. The branches of Waitrose were largely concentrated in Greater London and England. Some of their stores include an in-house restaurant which is selling hot and cold food. They offers 'Quick Check' to customers which is a self service system.Waitrose.com is their own website regarding delivery services 1
which is available at certain stores only. Customers can ordered goods by internet on this website. Business Strategies are definedas a course of action planned toattain certain measurable & specific goals. These are developed byhigh level of managementand executed by operational managers under supervision of upper level. Major reason behind formulating strategies is to accomplish goals, objectives and mission of firm(Auzair,2011). In the present assignment, chosen organisation is Waitrose which is British grocery retailer. The report includes assessment of business vision, mission, objectives and goals as well as factors that should be considered while formulating strategic plan. It also involves stakeholders analysis, environmental and organisational audit. At last, roles & responsibilities of personnel in executing strategy and contribution of SMART targets in successful strategy implementation is defined in this project. TASK 1 1.1 Evaluation of business vision, objectives, goals, mission and core competencies Mission: The mission statement of company refers as the long term plan which depictsthat where they wants to stand themselves in near future.It is a set of purposes which desires by firm in order to meet expectations of shareholders. It assists in determine how business run, their range of goods and services, customer etc.Mission of Waitroseis“We make what matters best, together”. Vision: Vision statement depicts about futureexpectationof firm. It assists in identifying growth and potential benefit of organisation. Vision statement of Waitrose is“To be the extremely valued business in eyes of customers they serve, the communities in which they operate, their committed and loyal colleagues & of shareholders”. Objectives and Goals: Theseare thebasic guidelineswhich a firmwants to attain in adefined time period. Objectives are targets for short term that company wants to attain by utilizing their skills as business(Azar, 2011). Goals are theplans for long term and objectives are for short term plan of an organisation.Goals & objectives of Waitrose are: To maximize profit by developing organic range. 2
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