Business Strategy for Desklib Online Library

Business Strategy

Table of Contents
Introduction.................................................................................................................................................3
Vision - To enhance the customer base of the company through the quality product
and services...........................................................................................................................................3
Values – The main value of the organization is depend upon its products and
services quality which can helpful to enhance the satisfaction level of the
customers................................................................................................................................................3
Corporate objectives -.........................................................................................................................3
Evaluate the major strategic decisions made during the six-round BSG simulation. Reflect on one round
that stood out, why and key lessons learnt.................................................................................................4
Reflect on relevant theoretical frameworks applicable to understanding the internal, external and
competitive environments of your business;................................................................................................5
Critically evaluate the impact of ONE specific emerging technology on the future...................................14
Artificial Intelligence..........................................................................................................................14
Robotics..................................................................................................................................................14
3-D Technology.........................................................................................................................................15
Cloud-based Technologies...............................................................................................................15
Conclusion.................................................................................................................................................15
References.................................................................................................................................................16

Introduction
Business strategy is a term that refers to all of the methods by which a firm can produce
its defined objectives. It entails company planning in which the enterprise is tasked with
operating in accordance with its protracted strategy in order to gain a competitive advantage over
the competition. The goods or services that the enterprise offers, the target audience, objectives,
the sector to be supplied, & also many other factors all contribute to the organizational strategy.
There are a number of guiding concepts that add to the group's effective decision for the express
aim of increasing & also growing it (Achinas and et. al., 2019). It is strategic planning entails
arranging a company's resources in such a manner that they are fully utilized &prioritized so that
the company's goals & also objectives are met on time. Marks & Spencer, a renowned British
retailer of apparel, food, &homewards, was chosen as the subject of this article. It was formed in
1884 & is headquartered in the U.K. Internal management analysis utilizing multiple
frameworks, external analysis using various methods &skills, competitor environment, & also
strategy development will all be covered in this study.
 Mission – To improve the effectiveness of the organization and also enhance the
profitability of the company all around the globe.
 Vision - To enhance the customer base of the company through the quality product and
services
 Values – The main value of the organization is depend upon its products and services
quality which can helpful to enhance the satisfaction level of the customers
 Corporate objectives - The main objective of the company is to enhance the
performance of the company so that company can enhance the productivity level of the
customers.

Evaluate the major strategic decisions made during the six-round BSG
simulation. Reflect on one round that stood out, why and key lessons
learnt
As a company's goal is to maximize profit & also sustain in the long run, we've learned in
business games that before executing a national strategy, the most vital point is for someone like
me to gain a better understanding of how various functional parts of a company fit around each
other, thus trying to integrate the expertise I've gained from business disciplines. Most of the
typical concepts I've learned in our manufacturing, advertising, economics, accountancy, human
capital, &finance classes are used in the company's strategic game (Alharbi, Dowling and Bhatti,
2019).
The business strategy game is a "big picture" encounter that includes looking viewing
choices from a company-wide standpoint & also bringing decisions from many business
functions together to create a unified strategy plan. I understand why &how activities performed
in one area have an effect on development in plenty of other areas of the business. The business
strategy game taught me more about the INS & breakaways of global competitiveness, as well as
the many tactics organizations may employ in global marketplaces &the obstacles that come
with competing in such an environment. Many of the business concerns &competitive pressures
that characterize today's world economy are present in the game.
My comprehension of fundamental revenue-cost-profit dynamics improved as a result of
the business planning game. Analyzing operation information, finding out-of-line costs,
evaluating the competitiveness of different markets, analyzing financial situation, &determining
on corrective & also preventative actions are all skills that I get important experience with.
Finally, performing the business model game improved my ability to analyze the earnings
mathematics of a firm, as well as my understanding of how & why the functional elements of a
business work together & also my management judgment. I've got expertise &practice
identifying business risk, analyzing industrial &competitive pressures, making corporation
choices, looking at the bigger picture about such a company's current &future prospects,
formulating plans, & also adjusting them as circumstances change (Bajarwan, 2019).

BUSINESS
STRATEGY
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Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
Applying distinct framework in order to analyse the influence of macro environment upon
business as well as on their strategies.....................................................................................3
TASK 2............................................................................................................................................6
Evaluating the capabilities as well as internal environment of a business through utilizing
proper frameworks..................................................................................................................6
TASK 3............................................................................................................................................9
Implementing porter's five force model to evaluate the competitive forces within market for a
business...................................................................................................................................9
TASK 4..........................................................................................................................................10
P4 Apply different models, theories and concepts to interpret strategic planning for a
company...............................................................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
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INTRODUCTION
The term business strategy denotes to the various decisions as well as tactics which
provides various advantages to the company in achieving their objectives or goals. It is
mentioned as a key plan that is being executed by a person within a business in order to have
huge competitive stand in market. The present report includes Marks and Spencer company that
is being situated in UK and sells retail items such as home products, food, clothing and other fast
moving consumer products. The report discusses about the macro environmental impact upon the
company's strategy of business, different logical frameworks are applied so to identify the macro
environment (Amri-Asrami and Aghaei, 2021). Organizational culture as well as various internal
competences are mentioned with a combination of evaluating through implementation of porter's
five force and other models. Further, differentiated concepts, models or theories are used within
the report in order to understand the strategic directions of a company.
TASK 1
Applying distinct framework in order to analyse the influence of macro environment upon
business as well as on their strategies
The various macro environmental factors are mentioned below:
PESTLE Analysis
The framework refers to a strategic tool that is being utilized by companies in order to
acknowledge the macro environmental aspects within effective manner at marketplace. The
analysis of macro environment factors with context to Marks and Spencer is done below:
 Political: This factor is related with various aspects such as regulation of tax,
governmental stability or instability, tariff rates and other related components. The
country UK is experienced with high governmental stability along with comfortable tax
rates for companies which is lesser. This encourages businesses to run their operations
and generate high profits for the firm (Herciu, 2020). Through this it is easy for Marks
and Spencer to develop its policies by keeping government stability in mind and earn
greater revenues.
 Economical: This involves discussion about GDP, inflation or deflection rate, monetary
or purchasing power, economic growth rate and other concerned aspects of the nation as
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a whole. UK experiences huge growth rate which is highly beneficial for the businesses
along with a combination of high disposable income assistance of which the audience
becomes competent to purchase more and more items for their regular consumption due
to which the organisation Marks and Spencer enjoys high profitability. On the other hand,
the moment economy is experiencing the presence of high inflation as happened in year
2018, the company seems to face hardships in its sales and revenues part.
 Social: Various societal components such as people's beliefs, opinions, ethics,
perceptions, morals, etc. are concerned within which the human beings as well as the
business exists. The society of UK is experienced to be the open minded where the
society people are always open to new things and adapt the changes with a twist in latest
items. Through this, the company Marks and Spencer is able to offer better quality of its
items created with latest form of technology to the market where customers are ready to
pay even high prices for the quality products.
 Technological: Most of the businesses within UK are operating with latest technology as
the country is always updated with the newest technology in market such as high internet
bandwidth or digital media in order to make their daily operations with ease and comfort.
With the going trend the organisation Marks and Spencer is needed to get updated with
advanced form of technologies or methodologies such as could be done in its supply
chain or in production process that could rise the company's profit margin.
 Legal: This force talks about the legal norms and regulations which are required by the
businesses to follow upon with full concentration as prescribed the UK government or
permitted authority. This is done with a purpose of safeguarding the customers interest as
well as employees benefit. Marks and Spencer is required to comply with all the
necessary policies or norms in order to run effectively with no harm upon its brand
image, violation of any could be extremely hazardous for the brand (Hongpisuttikul and
Sookcharoen, 2021).
 Environmental: This force is interconnected with the ecology and nature that safeguards
the environment form hazardous actions that are done by business companies. Abiding by
the laws of environment is always beneficial for the business as this assists companies in
developing positive brand image in the eyes of customers. With context to Marks and
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