ALDI Business Strategy Report

   

Added on  2020-07-22

20 Pages6061 Words147 Views
Business Strategy
ALDI Business Strategy Report_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1a) Assessment of ALDI missions, visions, objectives, goals, core competencies..................1B & C) The factors that ALDI needs to consider while formulating strategic plans.............2D) Different planning techniques...........................................................................................3E) Organisational Audit for ALDI.........................................................................................5F) An environmental analysis for ALDI ...............................................................................8G) The significance of stakeholder analysis.........................................................................11H) New strategy for ALDI...................................................................................................13TASK 2..........................................................................................................................................14A) Identifying market and choosing best strategy................................................................14B) Justification of choosing substantive growth strategies..................................................14TASK 3..........................................................................................................................................15A) The roles and responsibilities of personnel involved in strategy implementation..........15B) The resources requirements for implementing strategy..................................................16C) The use of SMART targets and its contribution in strategic objectives..........................16CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................18
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INTRODUCTIONA business strategy refers to the element which is used by organisation as to set out itstargets and goals that it needs to achieve in long term. It is called as long term business planningand it typically covers a duration of about 3-5 years. It is very important for an organisation toformulate a business strategy as to provide a framework to its employees so that they can achieveall individual and organisational goals in a limited period of time. It is very important for acompany in concern of execution of all task in a well defined manner (Astrachan, 2010). Thisreport is based on ALDI which is a multinational company and have discounted stores that salesgrocery and general merchandise. In this project various terms and techniques are used as toevaluate vision, mission and other core competencies of firm. Also it will be analysed as to howit can adopt different strategies for achieving desired level of growth. This report will assist inidentifying ways in which business strategy aids in achieving high level of growth for company.TASK 1a) Assessment of ALDI missions, visions, objectives, goals, core competenciesBusiness strategy is a component which is used by ALDI as to set out mission, vision,goals and core competencies. It is a way of deriving long term path which will lead toachievement of targets. ALDI is one of the fastest growing retail chain in United Kingdom(Auzair, 2011). That is why it needs to specify as what is required to be achieved by company ina set period of time. A business strategy will assist in providing a stable framework which can beused to complete all task in a systematic manner. It also provide a mission, vision statementwhich are later combined to be used for formulating goals, purpose and values of organisation.Vision: This is a statement which defines about the position where company sees itself infuture. It states about the basic idea and desire of promoter of company as what isrequired to be achieved (Burlton, 2010). ALDI vision statement stated that, they just wantto introduce something that is new, different, qualitative and enhances company chancesof achieving competitive advantage over its competitors. Mission: It is a statement that seen to state about aim of organisation and what does it doto achieve it. Basically it states about the path that will be used by organisation to attainits vision. It inspires employee of company and provide direction to them. ALDI missionstatement is, “It wants to provide citizens a way of participation in developing an1
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environment for enhancing standard of living while attaining all business goals andobjectives. Goals: They represents actual desires of company and specifies the long term targets.Goals are prepared in accordance to vision and mission statement (Campbell, Edgar andStonehouse, 2011). ALDI goals are as follows:◦To grow further in United Kingdom and world◦To achieve the top position in global retailing sector◦To establish physical presence in more countries◦To fulfil its corporate responsibilitiesObjectives: These are used by company to to measure the level of progress that has beenachieved by it while working to attain its end goals. Core competencies: These are the capabilities which company possess and they assist ingaining competitive advantage over others.Strategic planning is done on the basis of the set goals and objectives of organisation.ALDI has derived strategic plans as to achieve its short, medium and long term goals(Casadesus-Masanell and Ricart, 2010). Basically by using strategic planning company is able toprioritise its objectives in a way that they lead to achievement of all final goals. Strategicplanning is a very basic process of an organisation which is used for defining strategy, directionand decision making regarding allocation of resources to various functions. It assist in extendingcontrol mechanism for guiding the implementation process. The managers need to understandthe importance of strategic planning as it will assist them in preparing for uncertain future. B & C) The factors that ALDI needs to consider while formulating strategic plansStrategic plan refers to a document that is used for prioritising, focusing andstrengthening various task and skills as to achieve goals and objectives. Basically strategicplanning is done for managing all organisational activities while focusing its energy in samedirection. It aims to manage all resources and utilise them at optimum level. There are fewfactors which ALDI needs to analyse:Future direction of competition: The strategic plan will assist organisation in setting apath for its managers and employees (Chang and Chuang, 2011). So that they can use itas a framework and achieve all their goals and objectives. The strategic plan will be made2
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