logo

Strategic Management Plan of an Organisation

13 Pages4026 Words423 Views
   

Added on  2021-02-17

About This Document

5 TASK 38 P3 Apply Porter’s Five Forces model to evaluate the competitiveness of the organisation, 8 TASK 49 P4 Application of a concepts and models, interpret and devise strategic management plan of the organisation. 9 Strategic management plan 10 CONCLUSION 11 REFERENCES 12 INTRODUCTION Business strategy is a set of various actions or decisions which aid the entrepreneur while achieving their business objectives. Business strategy refers to a master plan used by management team of the company to maintain their sustainability at the

Strategic Management Plan of an Organisation

   Added on 2021-02-17

ShareRelated Documents
BUSINESSSTRATEGY
Strategic Management Plan of an Organisation_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Application of appropriate frameworks with its impact and influence on the macroenvironment.................................................................................................................................3TASK 2............................................................................................................................................5P2 Examine internal environment and capabilities of the organisation......................................5TASK 3............................................................................................................................................8P3 Apply Porter’s Five Forces model to evaluate the competitiveness of the organisation,......8TASK 4............................................................................................................................................9P4 Application of a concepts and models, interpret and devise strategic management plan ofthe organisation...........................................................................................................................9Strategic management plan.......................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
Strategic Management Plan of an Organisation_2
INTRODUCTIONBusiness strategy is a set of various actions or decisions which aid the entrepreneur whileachieving their business objectives. This mainly focuses on the aim of grabbing attention of largenumber of people in order to successfully accomplishing organisational goals within the giventime period. Business strategy refers to a master plan used by management team of the companyto maintain their sustainability at the competitive marketplace. Present report is based on JohnLewis Ltd. which is a British retail company. It deals in products which is cloths, watches,jewellery, furniture, etc. (Brewster, 2017). In order to gain knowledge how macro environmentinfluence the working of the organisation PESTLE analysis has been discussed. In addition tothis, SWOT along with VRIO has been conducted to know about the insight capabilities of theorganisation. Furthermore, for knowing the competitiveness of the firm Porter Five Forceanalysis has been carried in this report. At last, for analysing the present strategic option Ansoffmatrix has also been used along with strategic management framework. TASK 1P1 Application of appropriate frameworks with its impact and influence on the macroenvironment.For smooth running of business activities in an effective manner, it is essential for themanagement team of organisation to examine the examine the macro environmental factors.With this, managers of the company will be able to analyse external factors along with theirimpact. For analysing the environmental factors, managers of John Lewis Ltd. has carried outPESTEL analysis. PESTEL AnalysisIt is a strategic tool used by management team of the company for analysing all externalelements which directly influence the organisation for developing effective strategies. Forsmooth running of business activities it is very essential to formulate suitable plans (Cavusgiland et. al., 2014). In the present context of John Lewis Ltd PESTLE analysis is defined below:-Political:Company has decidesto expand its business and enter into the market of UKwhich is part of European Union. Market area of Europe is vast which leads to enter with ease.As a result it creates huge competition at marketplace for John Lewis Ltd. For reducingcompetition and increasing the profitability at marketplace government of UK decides to
Strategic Management Plan of an Organisation_3
decrease corporate tax from 30% to 28% (John Lewis PESTEL Analysis, 2019). In addition tothis, company need to develop strategies according to policies framed by government. Also withthe implementation of such factors, company can run in an effective manner as well as generatemore revenue. Economical:Brexit affects the economic system of UK as it cause recession within thecountry with high fluctuations in interest rates. In order to handle such adverse situation in aneffective manner, it is required by the company to provide goods and services to their customersat very low price (Chang, 2016). Business operations of John Lewis Ltd. Has also been affectedwith such market situations, as a result they should also cut the prices of their products. Inaddition to this, company should provide attractive offers to their customers in order to maintainthe sustainability at marketplace. Also it is very difficult for the management team of thecompany to formulate strategies accordingly. Social: Culture of societies are changing very which creates opportunities for thecompany in order to grab the attention of customers by providing them attractive products andoffers. With the help of this, company will able to increase their customer base as well asprofitability at the marketplace. In order to grab attention of large number of customers JohnLewis Ltd. launch new products and services. With this, company also creates threat among theircompetitors within the marketplace by introducing new products. At present, John Lewis Ltd. isvery competent by launching new products and services at the marketplace according to thedemands and requirements of customers. Technological:With the main aim of reducing wastage of paper company is adoptingonline or internet platform for selling their products. At present, John Lewis Ltd. Is currentlyadopting digital technology in order to attract customers from all over the world (Chen andJermias, 2014). With the help of this, company can generate more revenue by providingattractive offers via online shopping. In order to manage business activities in an effectivemanner company is using advance tool and techniques. But on the other hand, adopting latesttechnology is expensive which affects the overall financial position of the company. In additionto this, by adopting new technology it is required by the company to develop strategies and plansaccordingly.Environmental:In today's competitive world,building clean and safe environment is themain aim of large organisation. For reducing their carbon footprint, John Lewis Ltd has use
Strategic Management Plan of an Organisation_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Business Strategy of John Lewis
|13
|3915
|365

Analysis of Macro-Environment and Internal Environment of John Lewis Ltd.
|16
|5013
|22

Analyzing the Impact of Macro Environment on John Lewis Ltd
|13
|4258
|79

Strategic Marketing Plan for the John Lewis
|13
|4585
|191

Macro Environment and Competitive Forces in Business Strategy Table of Content
|13
|3854
|111

Analyzing Business Strategy of John Lewis Partnership Plc
|16
|4512
|307