Business Strategy of Waitrose

Business strategy

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................2
1.1 Waitrose mission, vision, goals, core competencies and objectives.....................................2
1.2 Different factors that are considered when implementing strategic plan .............................3
1.3 Effectiveness of techniques and tools in developing business plans of strategic.................3
TASK 2............................................................................................................................................4
2.1 Strategic positioning of a Waitrose by carrying out their internal audit...............................4
2.2 Environmental audit of Waitrose..........................................................................................5
2.3 Importances of stakeholders analysis when implementing innovative strategy...................6
2.4 New strategy of Waitrose .....................................................................................................7
TASK 3............................................................................................................................................9
3.1 Appropriateness of alternative strategy.................................................................................9
3.2 Justification of strategy selection .........................................................................................9
TASK 4..........................................................................................................................................10
4.1 Duties of an individuals who are charged with scheme formulations................................10
4.2 Necessary and essentials resources required in implementing new strategy.....................10
4.3 Contributes of SMART objectives to strategy formulation achievement in a Waitrose.....11
CONCLUSION .............................................................................................................................11
REFERENCES .............................................................................................................................12
.......................................................................................................................................................13

INTRODUCTION
Business strategy is identified as a best approach that enable an enterprise in order to
attain long as well as short term goals & objectives. It is also determined as the process of
evaluating objectives, mission, vision and goals of the business organisation in a systematic
manner. It is known as vital components because without a plan company cannot run their
business activities and functions successfully. Business strategy is implement by the upper and
middle level administration. It is very essential part of the organisation because it will support in
maximising the business performances (AlsudiriAl and et. al., 2013). Business strategy is make
healthier and long-lasting relationship with their buyers which contributes in generating their
revenue.
In this report chosen organisation is Waitrose, a supermarket in British organisation in
United Kingdom, Bracknell and Berkshire. They mainly deal with food products with the aim of
providing healthy products to the customers. It was founded in 1904 by Wallace Waite, David
Taylor and Arthur Rose etc. There are approx. 91,000 employees working with it and their
purpose is to achieving high growth and success of company in a short duration. They mainly
have 353 stores in all around the world and their annual revenue is £5,400.4 million it is better
for the business in achieve long term benefits. They also produce other food products such as
vegetables and fruits, in this business mainly attract large number of the buyers in order to
provide discount on goods. Rank of the company across the UK is 6th which is good in regards to
successfully increase their position in national and international market. They also deal with
online shopping and supermarket services in order to attract large numbers of the clients on
particular products or services. Main aim of the business entity is to give innovative products and
creative services to their potential and targets customers. financial conditions of the company is
very better in comparison to organisations (Althonayan and Sharif, 2010). But sometime they
face various issues related to their competitors, Waitrose has some main competitors such as
TESCO, MORRISONS and SAINSBURY PLC etc. In this way firm face different difficulties in
their sales as well as revenues. They mainly target different age groups who are waiting and
purchase better quality products.
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