Essay on Business Strategy of ALDI
Added on 2020-06-05
16 Pages4166 Words73 Views
Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1(a) Contribution of ALDI’s mission, vision, objectives and core competencies to informstrategic planning....................................................................................................................1(b) Factors considered by ALDI while formulating strategic plans.......................................2(c) Worth or usefulness of techniques used when businesses develop their strategic plans. .3(d) Organisational audit of ALDI to analyse current strategic position.................................4(e) Environmental audit for ALDI showing both micro and macro environment..................5(f) Significance of stakeholders analysis for ALDI in formulation of new strategy..............6(g) New strategy for ALDI.....................................................................................................6PART 2............................................................................................................................................7(a) Identification of market and appropriateness of strategy..................................................7(b) Justification of adoption of strategy..................................................................................7PART 3............................................................................................................................................8(a) Roles and responsibilities of personnel involved in implementation of strategy.............8(b)Resources required for implementation of the strategy.....................................................9(c)SMART targets contribute to achieve objectives ...........................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONAn organisation can achieve growth and success in the competitive market world forlonger duration only when they have effective business plans and strategies in order to competewith their rivals. Strategy refers to plan and action which is designed to achieve the desired goalsand objectives of company. Such strategies are formulated related with mission, vision, andobjectives, etc. which help in guiding and directing employees to perform in right direction.Main purpose of preparing this report is to provide the importance of business strategies ingrowth and success of an organisation (Akter and et. al., 2016). ALDI, a UK based companywhich deals in food, beverages, sanitary articles, household goods, etc. and attained a largenumber of super market chains is selected for preparing this report. The project covers factorsneeded to be considered by company while formulating business plans. It is also important forcompany to conduct organisational audit to analyse the strategic planning and environmentalaudit to show micro and macro environment. Roles and responsibilities of personnel andcontribution of SMART targets in achieving strategic objectives are also mentioned in thisreport.PART 1(a) Contribution of ALDI’s mission, vision, objectives and core competencies to inform strategicplanningStrategic planning: It refers to the plans and actions which are designed to achieve thedesired goals and objectives in an effective and efficient manner. It includes decision makingprocess relating to allocation of resources, assigning roles and duties to employees on the basisof their skills and capabilities to achieve common goals. Strategic planning is made after makingproper analysis of internal strengths in order to gain support from them to achieve desiredobjectives (Alsudiri, Al-Karaghouli and Eldabi, 2013). It is also important for company toanalyse macro environment factors which affect the business performance either in a negative orpositive way. The manager is required to first determine various issues related to stakeholders,environmental audit, strategy positioning, organisational audit, etc. The manager of ALDI isrequired to consider following points in order to formulate an effective strategy:Mission: It refers to the future course of actions which are needed to be performed inorder to achieve success and growth of an organisation in competitive environment. It provides1
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