(BS)Business Strategy Assignment: ALDI
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Added on 2020-06-05
(BS)Business Strategy Assignment: ALDI
Added on 2020-06-05
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Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Assessment of ALDI missions, visions, objectives, goals, core competencies................11.2 The factors that ALDI needs to consider while formulating strategic plans....................21.3 Different planning techniques..........................................................................................32.1 Organisational Audit for ALDI........................................................................................52.2 An environmental analysis for ALDI ..............................................................................82.3 The significance of stakeholder analysis..........................................................................92.4 New strategy for ALDI...................................................................................................11TASK 2..........................................................................................................................................113.1 Identifying market and choosing best strategy...............................................................113.2 Justification of choosing substantive growth strategies.................................................12TASK 3..........................................................................................................................................124.1 The roles and responsibilities of personnel involved in strategy implementation.........124.2 Requirements of the resources for implementing strategy.............................................134.3 The use of SMART targets and its contribution in strategic objectives.........................14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONA business strategy is considered to be an art, craft and science of preparing, applyingand evaluating various cross functional decisions that are taken by organisation as to attain itsgoals and objectives in a well defined and efficient manner. It is a used as to co-ordinate andintegrate different activities and direct all the efforts in one direction for achieving all goals andobjectives. The business strategy is based on mission, vision, objectives and goals of anenterprise. It is very important and vital for organisation success. It provides strategic alignmentand consistency for organisation and assist it organising various activities in a effective andefficient manner (Astrachan, 2010). This report is based on ALDI which is a multinationaldiscount store operator, o0ffering various products related to grocery and merchandise toconsumers at lower cost. In this project various methods and techniques will be covered and itwill be stated as how it assist organisation in achieving its goals. The importance of mission,vision, objectives and goals will be covered to. Also to implement strategy manager needsvarious resources, they will be stated in a proper manner. Other issues will be addressed to whichwill ensure a higher rate of growth and profitability for organisation. TASK 11.1 Assessment of ALDI missions, visions, objectives, goals, core competenciesBusiness strategy is a tool that is developed by organisation as to gain competitiveadvantage over its competitors. It is completely based on company mission, vision, goals,objectives and core competencies. ALDI is one of the fasted growing firm in the retailing sectorsthat has earned a title of being a king of discount stores (Auzair, 2011). But it is still a smallplayer in UK market and it needs to gain more market share rapidly as to survive in a saturatedplace. A business strategy will provide path to the company as to strengthen itself and itsactivities in order to gain more profitability and productivity levels. The mission, vision,objectives, goals and core competencies inform strategic planning in many ways:Vision statement: It is a statement that signifies as to what organisation wants to be infuture. It states about a condition that will be achieved if its employees achieves all their targetsin a set period of time (Burlton, 2010). As stated by ALDI, they want to introduce new andrevolutionary products in the market which are in common person reach. 1
Mission statement: It is a statement that describes about all the short term goals andobjectives. If organisation attains all their targets in time then it will be able to be in the positionas stated in their vision statement (Campbell, Edgar and Stonehouse, 2011). This providesinspiration to employees and assist them in operating to their maximum level. Goals: As per this concept, the aim of ALDI is to become one of the biggest retailer inthe world. It is a long term goals that will be achieved by company once it attains a level ofefficiency and effectiveness. The goals of are as follows:To grow further in UK and worldReaching the top position in retailing marketEstablishing its presence in more countriesObjectives: They are the one which assist employees in segmenting larger goals in shortterm targets (Casadesus-Masanell and Ricart, 2010). They are used a method to measure theperformance of organisation. Employees are motivated when they are able to achieve theseobjectives. Core competencies: This term states about the core values, ethics and capabilities oforganisation. For ALDI, their main USP is that they sell their products at discounted rates to thecustomers. Also company is able to introduce interactive and innovative marketingadvertisement that are more attractive to the customers. Strategic planning is a process that is done for making various plans and procedurescompatible for organisation. It is a complete method of preparing, directing and taking differentdecisions regarding resource allocation and managing activities (Chang and Chuang, 2011). Italso assist manager in implementing strategy and provides them a extended version of controlmechanism. Basically it is a process that is based on organisation, mission, vision, objectives andgoals. 1.2 The factors that ALDI needs to consider while formulating strategic plansStrategic plans are based on various factors that might impact company if not consideredwhile making plans and polices. It is prepared as to direct all the efforts and energy oforganisation in same direction while ensuring that efficiency and effectiveness is maintained.There are certain factors that will be analysed for making better strategic plans for ALDI:Future Direction of Competition: This is a factor that is addressed in every strategic planas to ensure that company is able to differentiate itself in market from its competitors.2
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