Impact and influence of macro environment on strategies of organisation

This report analyzes the impact and influence of macro environment on the strategies of Lotus cars Ltd, a British automotive company. It includes a PESTEL analysis to identify the external factors affecting the company's strategies.

Business
Strategy

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1) Impact and influence of macro environment on strategies of organisation..........................1
LO 2 ................................................................................................................................................5
P2) Internal environment and capabilities...................................................................................5
LO 3.................................................................................................................................................7
P3) Use of Porter's five force model...........................................................................................7
LO 4.................................................................................................................................................9
P4) Strategic plan .......................................................................................................................9
CONCLUSION .............................................................................................................................12
REFERENCES .............................................................................................................................13

INTRODUCTION
Business strategy is basically defined as a combination and set of all decisions made and
actions performed and carried out by an an organisation or business firm to accomplish and
achieve desired business goals and also includes efforts made to secure a competitive position
and better strength in business market. Business strategy is considered as the backbone of any
company as it provide a roadmap and framework for coordinating all business activities to lead
them towards the desired level of targets and goal (Pramanik, Maiti and Maiti, 2018). Business
strategies are the only tool that make an organisation able to handle and cope with dynamic
changes going on in business environment through providing bets solution and facilitating
effective decision making which are necessary for ensuring free and smooth flow of operations.
Lotus cars Ltd is selected to accomplish this report on business strategy. Lotus cars Ltd is
well known British automotive company that is manufacturer of cars that mainly includes design
and building sports cars and racing cars. In this report a critical analysis of macro environment is
included with appropriate use of PESTEL analysis. Beside this, an evaluation of internal
environment and organisation's internal capabilities is also made. Further, this assignment also
consists use of Porter's Five Force model to improve competitive edge and market position. At
last, use of a range of theories and models is also there to produce a strategic management plan.
LO 1
P1) Impact and influence of macro environment on strategies of organisation
Sum total of all the external factors and forces that create impact and influence on the
operations and strategies of an organisation form a macro environment of a company. These
external factors include the political environment, social implications, economical changes,
technological advancement and many more (Sellitto and Hawking, 2019). Lotus cars Ltd is an
organisations which belongs to automotive sector of UK and it mainly includes manufacturing of
racing and sports cars. The headquarter of this organisation is in Hethel, Northfolk, United
kingdom. This organisations is famous for its creation and designing of sports and race cars
which are light weight and have fine handling characteristics. The top model of this organisation
includes Elan, Europa, Esprit, Exige, etc. Apart from this, its also take parts in various racing
tournaments and had success in Formal one with team Lotus. Beside this, Lotus cars Ltd also
owns a engineering consultancy firm which provide its services across various parts of UK,
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China, United States and even in parts of Malaysia. The main operations of Lotus cars Ltd is in
UK thus, business registries and operations get affected by any changes in bushiness
environment of UK. To have an analysis of macro environment and different external factors
which have significant impact and influence on business strategies and operations of Lotus cars
Ltd use of PESTEL analysis is made which is described below:
PESTEL analysis
It is the most effective and simplest tool that is used by an organisation to identify and
analysis key external factors of macro environment that includes various forces which creates
both opportunities and threats for an organisation (Perez-Franco and Phadnis, 2018). Thus, for
every company it is necessary to conduct proper PESTEL analysis as it is essential for an
organisation to form business strategies as per the prevailing situation and conditions to remain
successful in business environment. Therefore, following PESTEL analysis is conducted by
Lotus cars Ltd to analysis the impact of various macro factors over the strategies and strategic
management decisions. The various elements and factors of PESTEL analysis are described
below in context of Lotus car Ltd.
Political factors
Theses factors are directly related with the attitudes and level of interface and
intervention made by government and other political partiers of a country. Political factors are
the representative of political stability and insatiability of a nation which directly effects the
operations and strategies of an organisation (Marín, 2019). In political environment main factors
that impact and influence organisation strategies are local legislation, taxation, infrastructure,
ease of exporting/importing, availability of skilled workers and many other. The political
environment of UK are mainly stable but the recent decision of UK of braking away and exiting
from the European Union which is formerly known as Brexit issue is cresting hindrance for
automotive sector of organisation (HOW BREXIT WILL AFFECT THE AUTOMOTIVE
INDUSTRY, 2019). As per a study conducted by IHS automotive has predicted a drop and
overall decline in the sales of automotive vehicle which is a created a threat and negative impacts
on the business strategies of Lotus cars Ltd. Drop of UK from EU has reduced the ease of
importing and exporting and lead to strict foreign trade policy thus, the sales and exports of
vehicles has declined which has created pressure on Lotus cars Ltd to formulate strategies as per
prevailing situation of UK.
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Economical factors
The growth rate of economy, GDP, inflation and deflation rate, bank and interest rates,
unemployment rate, disposable income, number of customers and suppliers, etc. are included in
economic factor which influence the level of investment and other operation of an organisation
(Sutrisno and Rossieta, 2019). The economical growth rate of UK is quite stable and good which
lead to better disposable income in hands of customer which encourages these consumer to spend
more on luxury items and vehicles which is good sign for automotive strategies thus, the
strategies of Lotus cars Ltd should be focused on production of better and more number of cars
to fulfil the demand. But the Brexit issue, has created a threatening for automotive sector as Car
makers fear disorderly exit that would cripple the just-in-time supply chain, investment and lead
to tariff barriers which will negatively influence the business strategy. It has created a pressure
on Lotus car Ltd to look for new suppliers and maintain the smooth production and other
operations. Apart from this decline availability of labours due to increase in their migration has
also lead to issue of high labour turnover in Lotus cars Ltd which has created influence on HR
department to made slightly flexible strategies to retain its talented employees. The
unemployment rate of UK is 3.9% which has made availability of cheap labour quite difficult
thus, created impact on strategies of Lotus cars Ltd as they need to make modifications in its
pricing strategies to maintain the profit margin as per the cost of production.
Social factors
This factor is having main focus on the taste and preference of customers and also
included the attitude, perceptive and behaviour of society regarding any particular thing. The
attitude of society creates impact the business strategies of organisation as the revenue and sales
of company are totally depended on the demand and taste of consumer which are a part of
overall society (Sanders and Wood, 2019).UK is having a quite rich and well educated society
which are fascinated for speed and sports cars. Beside this, popularity and sociocultural
perspective of UK is growing towards driving. Thus, demand of society of UK keeps on
changing and always desires for some new and better model of cars and other vehicles. Therefore
significant impact is created on strategies of Lotus car Ltd as timely modification and changes
are need in its production method to fulfil the desires and needs of society to maintain a good
level of sale. Apart from this a new trend of online shopping is also seen in the society of UK
which has lead to changes in strategies of Lotus cars Ltd to make effective modification in its
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distribution process so that more customer can be cater through providing facility of online
ordering of cars.
Technological factors
These factors are directly related with advancement and innovation in technology which
facilitates a more effective and better way for production and overall management of
organisation (Hadid, 2019). Improvement in technology has created many more opportunity for
organisations in automotive sector as it helps in production and designing of better models of
cars through making use of various computer software like CAD (computer aided design) thus,
created signifiant influence and impact on business strategies which should need to be focused
on automation of production process and other operation. Beside this, advancement of
technology also lead to a shift of automotive sector towards self driving technology thus,
manufactures of cars like Lotus car Ltd have to make changes in its business strategy to stay
relevant and ahead of its competitors. Beside this, better opportunity for online shopping through
more interactive and efficient websites and online payment mode are also created by
improvement in technology which is beneficial for Lotus cars Ltd to enhance its sales.
Environmental factors
This factor is basically related with the steps and regulation taken by the government or
other authorities for protection and safeguard of environment from hazardous and pollutant
operations of business organisation which degraded the quality of air, water and overall
biosphere. These environmental regulation has created impact of strategies of business like Lotus
car Ltd as it become essential for all organisations to fulfil their corporates social reasonability
and also needs to formulate strategies and decisions in a ethical way for protection of
environment (Gibe and Kalling, 2019). Further, steps, decisions and strategies should also be
made by Lotus car Ltd to control and minimize the carbon emissions from its vehicles.
Legal factors
These factors are associated and related with fulfilment of provisions of legal act and
laws made by government and other legal authority for betterment of society and employees
(Maheshwari and Yadav, 2018). Legal factors have a utmost impact and influence of strategies
of Lotus cars Ltd as its strategies and polices should consider and fulfil all the provisions of
employment act, labour, laws, customers safety act and all related laws to avoid all legal
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consequences and claims. Minimum wage rate, safety regulations, etc. must form a part of
strategy of Lotus car Ltd.
Stakeholder Matrix and Stakeholder Mapping
The stakeholder matrix or making is a vital tool that is used by Lotus car Ltd to
effectively manage and satisfy its stakeholders. Use of stakeholders matrix ensures effective
strategy formation by Lotus car ltd to satisfy and meet the needs of stakeholders who falls in four
broad categories a description of which is provided below in context of Lotus car Ltd:
Illustration 1: Stakeholder Matrix and Stakeholder Mapping, 2020.
Keep satisfied- Theses are the stakeholders of Lotus car ltd who are having High power
but are less interested people thus, managed in a most thoroughly managed by the Lotus car Ltd
to make them satisfied and informed.
Manage closely- These are the highly powerful and most interested stakeholders of Lotus
car ltd thus, maximum efforts and strategies are made to fully engage theses stakeholder and
ensures maximum satisfaction.
Monitor (Minimum Efforts)- Theses stakeholders have Low power, and are less
interested people thus, only a check and monitor is kept on these stakeholder by Lotus car ltd
with limited communication effort.
Keep informed- They are are low power but highly interested people thus, adequate level
of communication is maintain by Lotus car ltd with theses stakeholder.
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LO 2
P2) Internal environment and capabilities
Lotus car Ltd is a British automotive organisation having specialisation in manufacturing
of light weight sports cars and racing cars. To have an effective evaluation about the internal
strength and weakness of Lotus care Ltd use of following SWOT analysis is made.
SWOT analysis
It is basically a tool used for analysis of internal environment of an organisation which
includes its weakness and strengths (Cross, 2019). Apart from this it also makes an organisation
aware about the prevailing opportunity and threats so that best use of internal capability can be
made to have better result. Following are the SWOT analysis of Lotus car Ltd.
Strengths Weaknesses
 The greatest strength of Lotus car Ltd is the
light weight design of its cars which provide
a good power to weight ratios at
comparatively low power thus, lead to best
design for a sports car.
 The cars of lotus Ltd are hand build which
assures very high precision and care and
manufacture thus, attract a larger section of
customers (Aluchna, 2018).
 Strong presence in racing world, motor sport
and Formula one is creating good brand
reputation which is helpful in marketing and
apparelling merchandising.
 Excellent, effective and refined
performance and use of best engineering and
latest technology is the strength and
uniqueness of Lotus cars Ltd.
 A talented, creative and highly skilled team
of profound engineers and workforce are the
 The biggest weakness of Lotus car
Ltd is dependence on other
manufacturers for designing
engines and other essential
accessories of cars (Lotus SWOT
Analysis, Competitors & USP,
2019).
 Other weakness of this
organisation is that it is having
penetration and presence is restrict
only up-to a few countries like
UK, US, Chain and Malaysia and
many developing market for
automotive sector are still beyond
its reach.
 Lack of an effective and smooth
distribution system as still depends
on merchandiser.
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biggest assets of Lotus car Ltd which
facilitated ease in manufacturing hand built
cars.
Opportunities Threats
 Better performance of F1 team of Lotus car
Ltd has created an opportunity to improve
its brand image and also facilitated an
option for effective marketing.
 It is having an opportunity to expand its
business operation in emerging areas of Asia
which will provide a better customer base
thus, will increase its profit margin.
 Opportunity to have better technological
improvement to develop better features and
to enhance productivity to have an increase
in customer base.
 Because of Brexit issue, its market
share can be taken or grab by
European manufacture which is a
emerging threat.
 The preference of people is
shifting towards eco- friendly and
more practical cars rather than
sports cars and vehicles for
pleasure which is creating a threat
of diminishing sales (Foss and
Saebi, 2018).
VRIO analysis
It is a tool used for analysis of internal resources and capabilities of a company to
sustain and have better competitive advantage. The VRIO analysis of Lotus car ltd id provided
below:
Resources Valuable Rarity Inimitable Organized What is the
result?
Market presence Yes - - - Competitive
Disadvantage
Distribution
channel
Yes Yes - - Partially
competitive
Technological
resource
Yes Yes Yes - Temporary
competitive
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advantage
Human
resource
Yes Yes Yes Yes High
Competitive
advantage
On the basis of above VIRO model of Lotus Ltd it can be evaluated that, Market
presence, Distribution channel, Technological resource and Human resource are the valuable
resource of this organisation which enables it to garb and exploit the prevailing opportunity and
safeguard it from threats and also protect it form competitive disadvantage of market. The rarity
resources includes the Distribution channel, Technological resource and Human resource which
can be acquired or achieved by only few organisation thus, provide a level of temporary
competitive advantage to Lotus Ltd. Apart from this, Technological resource and Human
resource are the Inimitable assets or resources of Lotus Ltd that can not be copied or acquired
by any organisation without spending a considerable and huge monetary fund thus provide
sustainable level of anticompetitive advantage (Zucchella and Previtali, 2019). Further, Human
resources are the most organised resource and greatest capability of Lotus Ltd which is a
sustainable resource huge efforts like timely training and other development programmes are
also conducted by Lotus Ltd to maintain and retain efficient skills and talented of its most
sustainable resource.
LO 3
P3) Use of Porter's five force model
Use of porter's five force model is made by an organisations to properly understand and
have a look into competitiveness of industry so that proper strategies and policies can be formed
to improve competitive edge and market positions. In order to shape the overall competitive
extent and to have better market share use of Porter's five force model is made by Lotus cars Ltd,
the different elements and forces of which are explained below:
Threat of new entrant- The automotive industry is generally characterised as a sector
where organisation require huge amount of monetary and financial resources for entrance in the
market (Sousa-Zomer and Miguel, 2018). Thus, the threat of new entrant is limited for Lotus car
Ltd. But still chances of new entrant is also there which included new company with better and
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unique innovation and also brings the new aspects of performing and conducting operations
which is creating pressure on the managers and employees of Lotus car Ltd to have efficiency in
its work and should make timely changes and modifications in its strategies and perceptive to
have better innovation and dynamic. Use of effective research and development can be made by
Lotus cars Ltd to eliminate or reduce the threat of new entrant.
Competitive rivalry- In automotive sector are large number of big and small brands are
there which are creating competitive rivalry for lotus car Ltd. The main competitors of lotus car
Ltd are Porche, Ferrari, Cadillac, BMW, Mercedes Benz, etc. which are having better market
share and product portfolio than Lotus car Ltd. So that better market expansion strategies and
introduction of new models in its product portfolio is necessary for lotus car Ltd to counter and
handle high competition level.
Threat of substitutes- This factor is created due to homogeneous or similar
characteristics of two identical products thus, to remain successful and attract more customers
effective strategies are need to make a product different an distinct from the other competitors
(Vom Brocke and Mendling, 2018). This element of porters five force has created significant
force on managers of Lotus car Ltd to develop better and unique feature in its motor vehicle to
provide an specific and most unique product to have a distinct and better image in market.
Suppliers bargaining power- This factor is directly related with the number of suppliers
of inventory and other required raw material in business environment. Lotus car Ltd is depended
on many other manufactures and companies for procurement of an efficient engine which is a
vital part of its car and other product thus, it is largely depended on its suppliers which provides
them undue advantages. Thus suppliers of Lotus car Ltd is having good bargaining power which
provides them more negotiation power and makes them able to charge high prices for its raw
material. To effectively tackle this issue of high barging power, efforts should be made by Lotus
car Ltd to have efficient relationship with multiple suppliers.
Buyer bargaining power- The customer in business environment also posses bargaining
power and have the ability to reduce the price of any product. It depends upon the size and
number of customers as high customer base implies that high prices can be charged but if
customer base is limited it means that customers are more precious and they have the ability to
reduce the process (Cosenz and Noto, 2018). For Lotus car Ltd the customer is having high
bargaining power as they are having many options to shift and make a chge in their choice thus
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creates a modification of strategy of Lotus car Ltd and pressurises it for having reduction in its
prices to have a better customer base.
From the analysis of above porters' five force analysis of Lotus car Ltd it has been
evaluate that appropriate strategies are need by Lotus car Ltd to improve its market position and
competitive edge. To handle the threat of new entrant continuous modification and improvement
should be made by Lotus Ltd to remain dynamic and for coping up with competitive rivalry
strategies can be formed to have collaboration and differentiation with competitors so that the
market share and customer base can be improved. Apart form this to deal with threat of
substitutes more efficient use of technology and R&D can be made to have uniqueness in its
product and car model. Further, better collaboration and relation with multiple suppliers can also
be made Lotus led to cope up with bargaining power of supplier and to reduce the barraging
power of customer strategies can be formed by Lotus Ltd to have more market share through
reducing and modifying its pricing strategy.
LO 4
P4) Strategic plan
Use of strategic plan is made by an organisation to effectively manage and coordinate all
activity of an organisation for the achievement of desired goals and target (Panagiotakopoulos,
2019). The main aim of a strategic plan is to achieve better growth and expansion of business
organisation through timely accomplishment of objectives and goals. Thus, use of ansoff matrix
is made by Lotus car Ltd to evaluate various growth options to have a boost in its market share.
Ansoff Matrix
It is a matrix or framework used for analysis of various growth strategies to meet the
objectives of organisation. The four strategies provided by this matrix are discussed below which
provide suitable options for Lotus car Ltd to have better expansion of its business strategies.
Market penetration- This strategy is associated with selling a pre existing product in an
old or already prevailed market. Under this strategy aim of growth of business operations can
only be achieved with the use of more efficient marketing and promotional strategy and use of
low pricing strategy can also be made (Ritter and Lettl, 2018). This option can be Lotus car Ltd
as it is lest risky strategy as product and market are already known but a sufficient amount is
needed for better marketing and promotion.
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Market development- Under this option of ansoff matrix a new market is targeted and
developed by an organisation for its existing product. Adoption of this strategy by Lotus car Ltd
require better distribution channel and a deep analysis of prevailing trends and situation in new
targeted market. Expansion of a product in new market can be risky as company is not much
aware about the various prevailing factors of new business market.
Product development- This business strategy is focused on development and launching
a new product into a pre exists business market. In take of this option by Lotus car Ltd require
huge efforts of its R&D and marketing department to analysis the taste and preference of
customers and to develop a new product as there desire (Grahovac and Krob, 2018). Thus, it is
quite costly and risk of failure of new product also there.
Diversification- It is the most risky strategy or option of ansoff matrix as both product
and market are new thus, maximum chances of failure and losses exits. For choosing this
strategy of growth option, Lotus car Ltd require effective market analysis to have a
understanding about nature of market and preference of customers (Gans, Stern and Wu, 2019)..
Apart from this effective improvement and development in product is also required to attract
larger number of customers.
Further, there are two more strategies that could be adopt by Lotus car Ltd that are
discussed below:
Price Leadership Strategy- this strategy is associated with a situation when company
sold in products and services at a dominant price which are closely followed by its customers
thus, lead to better opportunity for Lotus car Ltd to attract larger number of customers through
leading price dominance in its target market.
Focus Strategy- this strategy is basically associated with the entering and expansion
business operations in a narrow industry and market thus, implication of focus strategy would
shift the emphasis of Lotus car ltd towards a specific target market and customers segment so
that better efforts could be made to satisfy these customers to ensure better growth opportunity in
a known segment.
Lotus car Ltd is facing an issue of limited product portfolio which mainly includes sports
cars it need to have more models and at the same time restricted market is also its weakness so
that expansion of business market is also required. Therefore, Diversification strategy is most
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suitable for Lotus car Ltd as it lead to development of new product and also facilitated expansion
of business operations in new target market.
Overview
Lotus car Ltd is a famous British brand of automotive sector which mainly deals in
manufacturing and designing of light weight of sports and racing cars. Its headquarter is in
Norfolk, United kingdom and also provide engineering consultancy in various parts of UK,
China, US and Malaysia. Lotus car Ltd is facing tough competition from various big brands of
automotive sectors, like Cadillac, Porche, Ferrari, BMW, etc. which are having much better
presence at global level and also have better product portfolio (Pramanik, Maiti and Maiti, 2018).
Thus, to get better competitive strength Lotus car Ltd is planning to comping up with a new SUV
with the name of “Lotus Exotic”.
Vision
The vision of Lotus car Ltd is, “ to become a leading organisation in automotive sector
through expanding across various location of world through providing best driving experience
to customers.”
Mission
The mission of Lotus Ltd is, “ To provide a vast range of motor vehicles to its customers
with proper balance of creativity, technology and stylish look in its models.”
Objectives
Following targets are fixed by Lotus car Ltd for this strategic plan :
 To have an increment in its target market and sales by 12% in coming one year (Sellitto
and Hawking, 2019). To increase its sales revenue and profitability by 8% in next 9 months.
Goals
The main goal of lotus car Ltd behind this strategic plan is to achieve more competitive
strength through coming up with a new product that is having many unique and improved
features than other competitors. Further, Lotus Ltd also want to achieve better expansion in its
target market thus, planning to enter the growing market of Asia.
Strategies
Lotus Ltd has selected the strategy of Diversification for having better growth and more
target market. The policy and plans made for achieving the objective of this strategy are
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conducting an efficient market research to get all relevant information about target market and
efforts are also made to improve and modify its product to increase customers of new market
(Perez-Franco and Phadnis, 2018). Beside this use of horizontal integration is also a good option
to expansed its business in developing market of Asia.
Tactics
The various action taken by Lotus car Ltd to launch its new “ Lotus Exotic” model in
market of Asia include timely market research and efficient use of R&D to develop better
features in the model as per the desires of customers.
Implementation and control
For success of its strategic plan proper control and implementation measures are taken by
Lotus car Ltd which includes use of KPI tool to keep a check and monitor the performance of all
employees and team member (Marín, 2019). KPI model facilitates a comparison between actual
and desired level of performance and activity thus ensure timely corrective action for
achievement of desired goals and objective.
CONCLUSION
On the basis of above report it can be summarised that use of effective business strategies
provide a guidance and direction for achievement of desired level of target and performance. Use
of PESTEL analysis is made by an organisation to have analysis of various factors of macro
environment to evaluate effect of these forces on strategy of an organisation. SWOT is a tool
used by a firm for evaluate its internal capability and use of VRIO model is also effective for
evaluation of internal capability and resources. Porter's five force analysis provide better
understanding about competitive level and issues prevailing in a business environment so that
better strategy can be formed to get higher competitive strength. Use of ansoff matrix is made for
having better growth option. At last, it can be summarised that strategic plan lead to better
achievement of objective.
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