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Business Strategic Plans of Aldi : Report

   

Added on  2020-07-22

13 Pages4776 Words31 Views
Business Strategy

Table of ContentsINTRODUCTION...........................................................................................................................11.1 Competencies inform strategic planning..........................................................................11.2 Analyse the factors to be considered by Aldi when formulating their strategic plans. ...21.3 Usefulness of techniques used when businesses develop their strategic plans................32.1 Analysis of the current strategic position of ALDI..........................................................42.2 Environmental audit for ALDI using Porter's 5 forces analysis.......................................42.3 Significance of stakeholder analysis for ALDI................................................................52.4 Strategies that ALDI can follow.......................................................................................6Part 2................................................................................................................................................13.1 Appropriateness of a suitable strategy..............................................................................13.2 Justification.......................................................................................................................14.1 The roles and responsibilities of personnel needed to implement the strategy................24.2 resources that are required for implementation a new strategy for ALDI........................24.3 Contribution of SMART targets to achieve objectives in ALDI......................................3CONCLUSION................................................................................................................................4

INTRODUCTIONMaking strategy in any business is essential today. This way, a company or anorganisation can plan their business in a better way. This report will cover the business strategicplans of Aldi. It will also cover a detailed analysis about its organisational and environmentalaudits. By this, the current as well as future business plan will also be discussed. It has become asuccessful organisation over the years (Scholes, 2015). This report will also include Porter's 5forces analysis to show its micro and macro environment.Part-11.1 Competencies inform strategic planning.1.ALDI's Missions:ALDI is very focused and cleared about its missions and objectives it need to achieve.Some of them are:To provide good quality services to its customers at affordable prices. It stands up to theline “ Spend a little, live a lot”Providing a healthy working environment for the employees and giving them jobsecurity.2. ALDI's Vision: ALDI's whole and sole vision is to maintain a statement in the retail world. In order toattain its vision, the cited firm follows a minimum pricing policy (Johnson, 2016). With thispolicy, it can attain it's objective of targeting a large group of niche customers who spend low.These will increase their share in the market.3. Aims and objectives:The main aim of the firm is to retain its competent and skilled workforce. In order toattain this objective, the cited company provide motivation to its existing employees, createsvarious strategies to improve the efficiency of the employees.4. Goals:The goal of the cited organisation is to be efficient in fulfilling the demands of thecustomers as well as it's employees. Another role or goal is to behave responsibly towards itsemployees as well the offerings made by the organisation to its customers.5. Core competencies:1

The core competency of the ALDI store its innovative techniques (Armstrong and et. al.2015). It spends a large amount on research and development, in order to provide good qualityproducts to its customers.This factors have deeply affected the better handling of the different operations that helpsin the effective development of and effective and strategic business plan that will help the citedfirm to gain a better productivity and profitability by achieving its business goals. Also, it willhelp in the significant handling of the better handling of the various operations to provide thecustomer with proper satisfaction level.1.2 Analyse the factors to be considered by Aldi when formulating their strategic plans. Formulating a strategic plans is of utmost important for any organisation to achieve itsgoals and objectives. ALDI is a retail store which also needs to formulate different strategies inorder to attain it's prescribed objectives. The cited firm has to consider many internal andexternal factors to formulate a strategic framework.INTERNAL FACTORS:These are those factors which operates within the organisation and affects the decisionsregarding formulating of new strategies for the firm (Sia, Soh and Weill, 2016). The majorinternal factors for the mentioned organisation are its Stakeholders. Stakeholders for the firmincludes its employees, customers, creditors, etc. ALDI must ensure the well-being of thesestakeholders while formulating its growth related strategies.EXTERNAL FACTORS:These include those factors which operates outside the organisation and affects the strategicplans of the any firm (Cascio, 2018.Managing human resources). The external factors whichmay affect the decision making of the cited company includes the following:1.Political Factors: Political factors include the tax structure of the Government of the concerned country inwhich the cited firm operates. It highly affects the firm's pricing policy. For example, thepolitical and governmental policies will affect the ALDI to a greater extent.2.Economic Factors:2

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