Digital Business Strategy Implementation Challenges

This assignment delves into the complexities of implementing digital business strategies. It examines various aspects, such as aligning business strategy with technology, addressing technological challenges, and navigating the impact of digital transformation on organizations. The analysis draws upon research articles and frameworks like the BCG matrix, Mendon's matrix, and SPACE matrix to provide a comprehensive understanding of the strategic considerations involved.

Business Strategy

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 ALDI's mission, vision, goals & objectives and core competencies................................1
1.2 Analysing factors that have to be consider while formulating strategic plan...................2
1.3 Usefulness of techniques while developing strategic plan...............................................3
TASK 2............................................................................................................................................5
2.1 Organisational audit for Aldi............................................................................................5
2.2 Environmental audit for ALDI.........................................................................................6
2.3 Stakeholder analysis.........................................................................................................7
2.4 New strategy for ALDI.....................................................................................................8
TASK 3............................................................................................................................................9
3.1 Identification of market analyse appropriateness of suitable strategy..............................9
3.2 Justification for the chosen strategy for market entry and growth of ALDI..................10
TASK 4..........................................................................................................................................10
4.1 Assessing roles and responsibilities of personnel for the implementation of strategy...10
4.2 Analysis of resource requirement for strategy implementation.....................................11
4.3 Way in which use of SMART objectives can contribute to achieve strategic objectives11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
.......................................................................................................................................................14

INTRODUCTION
Each and every organisation has to develop some plan for their business so that they can
attain their set objectives in an effective and efficient manner. Manager of company have to
provide some adequate framework so that employee can complete their work more appropriately.
If a firm’s business strategy is effective then they can compete with their competitors in the
marketplace that will lead to increase their profits. With the help of this, goodwill of firm in the
market would get improved as well (Ackermann and Audretsch, 2013). It will assist the firm in
their growth as well as development. Enterprise has to formulate strategies properly so that they
can attain their desired goals and targets within stipulated time frame. This report is based on
ALDI which is a grocery retail outlet in the UK. They have almost 550 stores in all over the
world. In this assignment, there is a description of mission, vision, objectives as well as core
competencies of firm.
TASK 1
1.1 ALDI's mission, vision, goals & objectives and core competencies
ALDI is a supermarket chain which is situated in UK and they are providing their
services all over the world. They have almost 10,000 stores in approx 18 nations. It is essential
for each firm to set some guidelines first for their business and they work on them. It assists them
to accomplish their work more effectively and efficiently. Along with this, it is essential for the
manager of ALDI to develop a healthy work environment in premises so that workers can do
their work appropriately and attain the desired goals and objectives in an effectual manner
(Acquaah, 2013). The vision, mission, goals and objectives as well as core competencies of
ALDI are like:
Vision It is like a written statement of company which is related with their
association that in coming years where they want to see themselves. Director
of ALDI wants to develop something unique as well as revolutionary
techniques so that they can take competitive advantages form their rivals. As
result to, it will assist them to improve their revenues and additionally their
market strength is get enhanced. ALDI wants to expand their business in all
over the world.
Mission It serves as a guideline for organisation which will help them to survive for
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longer duration in the marketplace. Along with this, they can achieve their
desirable goals within a specific time period. Company wants to fulfil needs
of their customers timely. Additionally, they want to increase their profits.
They provide goods and service at less prices, thus they can attract more
clients towards them and their distribution system is also effective so that
they easily accomplish demands of each and every sort of buyers.
Objectives It may be for short and long term both but most of the firms want to survive
for long term in market (Armstrong and et. al., 2015). Thus, it is essential
for them to develop an effective plan for their association so that they can
accomplish demands of clients and increase the profits.
Goals It is necessary for enterprise to set their goals which are appropriate as well
as that can be achieved within stipulated time span. Along with this, goals
must be measurable so that it can be measured with setted objectives in an
effective manner.
Core
competencies
ALDI's strategies are totally different from other organisation, which assist
them to take advantages from their competitors in marketplace. Along with
this, it will help them to increase their profits and goodwill in market. They
provide their products and services to clients at affordable prices (Bentley,
Omer and Sharp, 2013).
1.2 Analysing factors that have to be consider while formulating strategic plan
While preparing an effective strategy for company, manager has to determine internal as
well as external factors so that they can develop the plan more appropriately. In context of ALDI,
they have an adequate market growth in comparison to other firms. Market share of organisation
has increased by 19.8% whereas major rivals grew only up to 1.6%. Thus, it is essential for the
enterprise to maintain it properly. There are some factors that have to be considered while
formulating strategic plan. These are mentioned as beneath:
Internal factors: Factors which are related to business entity internally are known as
internal factors. These all are termed as suppliers as well as labours who assist in running the
operations more effectively. It will help company in their survival as well as accomplish targets
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with time period. If managers in ALDI become unable to satisfy the needs and wants of their
workers then they may do strikes, lockouts and so forth. As a result, it may influence their
profits. Additionally, if there are conflicts amongst suppliers as well as management then it can
put a huge impact on their brand image.
External factors: Elements which can affect an enterprise externally are considered as
external factors. They are unpredictable and out of control (Bharadwaj and et. al., 2013). It may
comprise of factors like political, economic, social and technological. All these elements can
affect business decision making process either positively or negatively. They are explained as
follows: Political: It is essential for each and every kind of organisation to determine those
countries whose government is much stable in nature. If ALDI is going to set up their
business in a new country then it will be affected by their political environment. Thus, it
is necessary for the firm to determine political nature so that their working would not get
influenced. Economical: Management has to fix value of their products and services as per the
economic position of nation as it determines the spending power of people. If the
inflation rate is high in nation then they need to develop strategic accordingly (Blackburn,
Hart and Wainwrigh, 2013). Social: It is needed for an enterprise to use those tools and techniques in their business
which never be harmful for society. Such as they have to reduce wastage, so that they can
reduce wastage and protect environment.
 Technological: ALDI has to update their techniques according to time so that they can
collect essential data and information effectively which will aid them to manage their
stock.
There are some other factors which can also affect business while formulating strategies, are
mentioned as below:
 It is essential for company to accomplish needs and wants of their customers as per their
demands, so that they can improve their profits.
 If they want to take competitive advantage from their rivals, then it is must for them to
maintain quality of their products and services. Along with this, prices must be
affordable, thus people can easily purchase goods.
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 They have to utilize resources properly, so that they can develop innovative products for
their purchasers.
There are some other factors which are described as beneath:
 It is essential for manager of company to determine needs and wants of their clients, so
that they can easily accomplish their demands within period of time.
 They have to identify their competitors, thus they can develop strategies to compete with
their competitors.
 They require essential resources, hence they can easily create new or unique items for
their buyers.
 Stakeholders are very necessary for each and every sort of organisation as they cater fund
to firm for their expansion.
1.3 Usefulness of techniques while developing strategic plan
Manager of ALDI has to develop an effective strategy for their business so that they can
accomplish their targets as well as goals in an appropriate manner. It will assist them in their
growth and development and additionally, improve their brand image in the marketplace.
Organisation can use various tools and techniques while making strategies for business such as
BCG matrix. It is explained as below:
(Source: BCG matrix, 2017)
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Illustration 1: BCG matrix

BCG matrix is divided into four units which includes dogs, cash cows, stars and question
mark. All these are discussed as below: Dogs: According to this, market share of organisation is very low as well as market
growth is less in comparison to other firm. As a result, they are very not much able to
generate maximum revenue for their enterprise. Along with this, consumption of their
items and services are also very low. Thus, company is not able to generate cash for them
and they have to determine a new market for their new goods so that they can increase
their profits. Cash Cows: This type of market can easily generate cash as well as organisation has high
growth (Grover and Kohli, 2013). Thus, this form of market is very much helpful for
each and every type of enterprise whose main aim is to earn more profits for them. In
context of ALDI, market of their business is too wide and thus, they can easily enhance
their revenues. Hence, it can be said that cash cows have less growth but high market
share. Along with this, if organisation wants to attract more customers towards them then
they can develop effective strategies. Star: Market share as well as growth rate of firm is too high in this stage. They can easily
increase their income in comparison to other firms. There is no need for the promotion of
their goods and services as under stars, goodwill of organisation is already very high. It is
not essential for company here to pay much attention to their items as they are already
developed in the marketplace.
 Question mark: As per this phase, growth is high but share of market is comparatively
low. Thus, in this situation, company needs more investment in their business so that they
can perform their activities more effectively as well as efficiently (Haley and Haley,
2013).
SPACE matrix: With assistance of this, manager of ALDI can easily examine business's strategic
position which is related with four dimensions:
 Industry attractiveness
 Environmental stability
 Competitive advantages
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 Financial strength
By combining all of these it give wide direction which is associated with strategic:
 Aggressive
 Conservative
 Defensive
 Competitive
There are some benefits of using these matrix in business, which are mentioned as below:
 It is very easy and use and understand.
 Manager of ALDI can easily determine their position in the market.
 It will assist them in their growth as well as development.
 These can help employer to take competitive benefits from their rivals.
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Illustration 2: SPACE matrix

TASK 2
2.1 Organisational audit for Aldi
It is necessary for each and every type of firm to determine risks as well as opportunities
by conducting organisational audit. There are two major factors which must be taken into
consideration i.e. external and internal. Internal examination is utilized by association so that
they can identify unwanted things which may affect business. It is also related with investigation
of financial statements so that manager can know about the risk and take decision accordingly.
For organisational audit, ALDI can conduct SWOT analysis which is mentioned as below:
STRENGTHS WEAKNESSES
 Brand image of organisation is very
good which will assist them to increase
their profits (Jocovic and et. al., 2014).
 Company offers high quality products
and services to their customers at a
reasonable price.
 Market share of ALDI is likewise high
as compared to their competitors.
 19.8% Market growth rate is higher
against their competitors which is the
key strength for them.
 Organisation do not provide large
impact on other nations.
 In some countries, people are not very
much familiar with this brand name.
 They use less innovative techniques in
their products and services.
OPPORTUNITIES THREATS
 As their market share is very much high
so they can easily launch new items for
their customers to increase their profits.
 They can use online sites to sell their
products to customers and thus, they
can attract many new consumers
towards them.
 Other organisations are continuously
expanding their business so, ALDI also
needs to increase market to take
competitive advantages from their
rivals (Khalili Shavarini and et. al.,
2013).
 Company is introducing new products
to their buyers which may affect its
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profits.
Value chain analysis of the ALDI
Inbound logistics: ALDI is having their own suppliers which helps to them to sale out their
products in their targeted markets. They provides products on the time and creating changes in
their products according to demands.
Operations: ALDI is having their own logistics department which transport their products in to
their various superstores.
Outbound Logistics: Their retail outlets and online sales are two channel where from they
conduct their business activities.
Marketing and sales: ALDI is using print, electronic and social media as well to advertise their
products in their targeted markets.
Service: As they are working in the grocery so they are providing home delivery services to their
regular clients.
2.2 Environmental audit for ALDI
External factors are totally uncontrollable for organisation. Therefore, it is essential for
them to develop strategies according to this. For this, manager of ALDI uses porter's five model
which will also assist them in their decision making process. There are five important elements
of it which are mentioned as below:
 Threat of new entrants: Presently, grocery markets have converted into supermarket
kind of business. Capital is no longer an issue for the new entrants which local retailers
take as an opportunity. Even distribution for new entrants is difficult as proper
distribution system is followed over there. Grocery market is price sensitive and hence, it
provides considerable retaliation to new entrants (Klettner, Clarke and Boersma, 2014).
New entrants to the market with larger product range possess threat to companies like
ALDI. Market policies support the new entries as they offer job opportunities.
 Bargaining power of the supplier: ALDI supermarket has an advantage of negotiating
better promotional prices from suppliers than small individual chain. ALDI faces greater
threat by companies that bring their products from other countries at lower prices. The
profit margin of suppliers has been reduced by competitive rivalry in grocery market.
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 Bargaining power of Customers: Competitive rivalry has been given with more
bargaining power to the buyers. To ensure lesser lose of customer base ALDI have to
continuously customise its services to fulfil customer needs. Customers have drifted
towards supermarkets where they could find other items at the same place and hence,
giving them more power of bargaining.
 Threats of substitute: Unavailability of product variety in a single store and options
present in the other supermarket may lead to substitution. Smaller chains with better
distribution system possess a threat of substitution for the local market. Various online
grocery delivery systems have emerged as a source of substituting the retail stores. ALDI
does not provide additional loyalty schemes so that customer would return to the same
stores on regular basis. Market needs change at a very high speed and so, if not
continuously evaluated, companies like ALDI can be substituted by other firms who are
fore runners on plans (Li and Tan, 2013).
 Rivalry among the existing firms: This sector is subjected to greater rivalry with focus
on cost. The fierce rivalry has led to large marketing campaigns. This burdens company
like ALDI to have cost cutting even after aggressive marketing advertisement. Even after
the growth of grocery market and raised consumptions the existing firms due to rivalry
the profit margins have reduced considerably.
PESTEL analysis: It is described as below:
 Political factor: As ALDI has their company in various nations, thus this element can
affect them either positively or negatively. Along with this, condition of market, taxes,
new laws and so forth can influence their business.
 Economical factor: If there is alterations in exchange rates then it may affect business of
cited company. Along with this, if market is in favour of organisation then they can easily
improve their profits and reputation at commercial centre.
 Socio cultural factor: It is must for organisation to provide best quality of items to people
so that they can accomplish their needs and wants in an effective manner.
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 Technological factor: In modern times, there are many new tools and techniques which
are introducing by people. By using these new methods firm can sale their products and
services online also. Thus, they can easily improve their profits and market share and in
addition build customer loyalty.
 Environmental factor: It is essential for manager to pack their items appropriate, hence
they can attract more client towards them. Along with this, it is must for them to reduce
wastage and produce their products environment friendly.
 Legal factor: It is must for manager to comply all laws and legislation which is associated
with their business. They have to maintain standard of their products so that they can
fulfil demands of their buyers.
2.3 Stakeholder analysis
Bondholders are an essential part for each and every type of organisation. They invest
their money into business, thus firm can do their activities in an effective manner. Therefore, it is
necessary for manager of ALDI to take them into consideration while they are developing plan
for their organisation. So that it is needed for employer to make them satisfy with decision
making. Stakeholders may be of two types such as internal as well as external (Mithas, Tafti and
Mitchell, 2013). Stakeholder analysis is used to analyse the possible support in the business
activities and plan which can help to the company to make better change. In the first of this
analysis it helps to identify the stakeholders which can help in the business activities and after it
sets out priority of them by which company can make their business relations with them.
Bondholder analysis is a procedure which assist firm to get and win support from others.
There are various sorts of shareholders which are mentioned as below:
 Primary
 Secondary
 Key stakeholders
If company wants to do stakeholder analysis then they can utilize analytical approach for
this purpose. Hence. Benefits are must to attain goals and targets in an effective and efficient
manner.
 Interest of stakeholders.
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 Mechanism to affect other bondholders (Pagani, 2013).
 Possible risk.
 It is must to inform management about project during its execution phase.
 Stakeholders of negative nature as well as their impact on business entity.
These all are various points which an enterprise has to taken into consideration while they
are formulating strategics related to their bondholders. Additionally, they need to use some steps
before they are doing any new modification into their organisation and it must provide benefits
to their external as well as internal stakeholders.
 Internal bondholders may include employees and it is essential for management to take
corrective actions so that they can motivate them. As result to, it will assist them to
improve their performance.
 Additionally, manager can provide them incentives which will aid to encourage internal
bondholders.
 They have to follow rules and regulations while they are preparing new plan for their
business (Scholes, 2015).
 It is essential for them to pay their timely, it will assist them to maintain their brand
image.
Therefore, administrative department has to make strategies effectively as well as
efficiently., which must be beneficial for their stakeholders. Along with this, manager of ALDI
has to provide quality products and services to their customers so that it cannot harm their brand
image as well as shareholder's interest.
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Illustration 3: Mendlow's matrix

2.4 New strategy for ALDI
With assistance of an effective strategy company can do their work more adequately.
Along with this, market share of ALDI is very high. They make plans so that they can achieve
desired goals and objectives more effectively as well as efficiently. Strategies are blueprint,
hence, workers can accomplish their work appropriately (Slack, 2015).
 ALDI's market share is much high comparison to other firms. They have very high range
of customers as well as revenue earning capacity. They fulfil needs and wants of their
clients by providing goods and services as per their demand. Their main aim is to provide
best quality items to their buyers at a reasonable prices. ALDI's market share is approx
20%.
 Company has almost 550 stores in UK and their target is to open more stores in all over
the world. It will assist them to take advantages from their competitors in marketplace.
 It is essential for organisation to set their objectives, so that they can earn more income
and expand their business worldwide. Along with this, it is necessary for them to
determine those factors which are beneficial for them. As result to, it will aid them to
enhance their market share.
 Manager of firm has to provide quality products to their clients, it will also help them to
achieve their targets more effectively as well as efficiently (Smith, 2013). Enterprise can
also revise their plan after all their work is get completed.
Therefore, organisation has to develop some strategy which will aid them in their
working system appropriately. Additionally, if employer of enterprise develop an effective
guidelines for their business, then also they can improve their profits.
Objectives: The company is having an objectives to maximise their sales and market share with
10% in two upcoming years.
Strategies: new marketing and promotional strategies are used by the company which can help
to them to make a better change in their position in the market.
Target market: Company is taking housekeeping people as their targeted market because they
deals in the grocery products and company can enlarge their sales.
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Modifications: ALDI has to make changes in their products according to the needs of their
targeted customers, they have to work on competitive pricing which can help to them to provide
quality products in effective prices.
Promotions: They have to use print, electronic and social media to promote their products in
their targeted market because housekeeping people are having time to use their medium.
It is fundamental for each kind of big business to make a successful arrangement with the
goal that they can give fulfilment to their clients. Refereed organization create diagram, which
will help them to make more estimations of their stock and organization among their customers.
At whatever point a firm create new item for their purchasers, they have to make new procedure
for this. Each individuals have their own particular needs and needs which they need to finish,
and ALDI satisfy them by offer remarkable and also inventive items to them. Alongside this, it
helps them to upgrade their benefits and enhance their image picture in nation. A fitting
arrangement likewise helps them to grow their business and stock in everywhere throughout the
world.
ALDI makes their plans for cost administration, alongside this, they need to lead in
showcase by exploiting cost. On the off chance that they diminish estimations of their items and
administrations then it will expand their incomes. And in addition, it helps them to enhance their
piece of the pie. It is fundamental for them to keep up quality standard of their stock, which will
help to draw in more buyers towards them. Lower cost help them to enhance their profitability or
deals. On the off chance that they portion their market then they can finish request of every
single kind of purchasers (SMART goals, 2017). As result to, it will helps them to take
favourable circumstances from their rivals in the commercial center.
TASK 3
3.1 Appropriateness of suitable strategy
It is essential for the manager of company to develop proper strategies for their business
so that they can determine the market nature as well as growth. Additionally, it will assist them
in their decision making process. For instance, ALDI is doing their business in the UK only.
Thus, it is needed for them to expand their organisation in other countries. Therefore, they have
to analyse the economic and political factors. Additionally, it is necessary for them to determine
unique opportunities which will assist them to improve their profits and reputation in the
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marketplace. If they properly examine market circumstances then also, they can compete with
their competitors in the market more effectively (Smith2013). There are some approaches in
context to growth of firm as discussed below:
 Substantive growth: As per this method, if company wants to take advantage from
market then they can use some methods such as merger as well as acquisition. But, it is
not applicable in every kind of business. If company uses these techniques into their firm
then it will help them in their growth and development. Franchisee is an another model
which is comes in this category but it is useful for those organisations which are having
some speciality in their business formula. Joint venture is an effective method in which
company can make an another venture to enter in a new market where they can start their
business and make profits.
 Limited growth: As indicated by this strategy, organisation only wants to sell their
products and services in current market only. But they likewise want to introduce their
items into new marketplace as well.
 Retrenchment: If growth approach is not adequate for enterprise then they cut down
themselves with some another associations. Then they can suffer from much loss because
organisation is not much capable to improve their profits.
ALDI is the largest grocery store in UK and they want to enhance their business in all
over the nation. Thus, for this, they can use strategy of substantive growth to increase their
market share (Verbeke, 2013). ALDI has to use joint venture to enter in the new market which
can help to them to establish their business in new markets. The company is not much known as
TESCO in the international market so this method is suitable for them.
3.2 Justification for the chosen strategy for market entry and growth of ALDI
Market growth as well as strategy both are much important for company as they want to
increase their revenue. There are some methodologies which are totally related with success as
well as development of an enterprise. Manager of ALDI can develop some plans for their
business, which will assist them in their survival of market. Cited firm wants to expand their
business worldwide. An effective strategy will aid to take advantages from their competitors.
Therefore, association can use substantive growth approach, it will help to introduce
themselves in other countries. Along with this, for above stated purpose they can take help of
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other micro companies. As result to, there profit will get increased as well as can take long term
advantages.
When their business is successfully set up by using merger strategy, then they can utilize
approach which is related with limited growth. It will only support them, after they appropriately
setted their organisation in other countries (Verbeke, 2013). Along with this, it is essential for
company to determine each and every factors which can affect their business decision making.
Hence, substantive growth strategy is much appropriate as well as adequate for them.
ALDI is a retail store which is situated in UK and they are providing their goods and
services across the world. They have almost 4000 stores worldwide and they are selling variety
of items such as food, beverages, sanitary articles and so on. They are giving the best quality
items to their clients at an affordable value. Their main competitors at marketplace are Tesco,
Sainsbury etc. Fundamental purpose of this organisation is to satisfy needs and wants of
customers and assist them to improve their revenues.
ALDI continuously improve their products so that they can attract more clients towards
them. It will assist them to improve effectiveness of products and as result to they can improve
their products and in addition enhance their reputation at marketplace.
Suitability: It deals with entire strategy rationale and company can utilize a method to evaluate
their suitability is that, they can conduct SWOT analysis. If it is much effective then firm can
easily accomplish their mission and along with this take all opportunities which are available in
extrinsic surroundings.
Feasibility: As per this, enterprise can easily identify that they need resources for strategy
implementation and it may include time, people, capital and so on.
Acceptability: It is basically associated with bondholders’ expectations. Staff members are
generally obsessed with non financial issues and it may comprise working environment,
outsourcing and so on.
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TASK 4
4.1 Assessing roles and responsibilities of personnel for the implementation of strategy
Employers play an essential role in a company as they assist to attain organisational goals
as well as targets in a systematic manner by making employees put their efforts in the right
direction. Hence, director of ALDI has to make proper plans for business so that they can use it
for long term and improve their profits as well. There are various essential roles and
responsibilities which must be performed by ALDI's manager as mentioned below:
 It is essential for them to determine the market situation so that they can accomplish their
work appropriately (Slack, 2015).
 They have to execute every task systematically and thus, it is necessary for them to assign
right task to the right people.
 Director of the strategy is having significant role in the application of the strategy in the
actual conditions, they are having a responsibility to elaborate the strategy in front of
their subordinates and expected outcomes.
 Employer of ALDI has to motivate their workers so that they can do their work more
effectively.
 It is essential for the superior to distribute roles and responsibilities to their subordinates
according to their skills and abilities.
All these duties must be accomplished by the manager so that they can attain desired
goals and targets in a proper manner.
There are many other persons who are involved in strategic procedure:
Top management: They set goals and targets which staff members have to attain within
minimum time span. They provide motivation to their people so that they can don their work
more effectively and efficiently.
Middle management: There are many roles and responsibilities of them, which are mentioned
as beneath:
 Accounting
 Research and development
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 Marketing and so forth.
4.2 Analysis of resource requirement for strategy implementation
It is necessary for manager to use proper resources at the time of execution of strategies.
It plays an essential role as if they do not utilize these resources properly then they cannot
achieve their desired goals and targets (Pagani, 2013). ALDI is a grocery store which is
established in the UK and they need more finance in their business. Along with this, they can use
new or unique technology in their business. The essential resources for ALDI to implement the
strategy are described below:
 Human resource: They are the most important element for ALDI. With the help of
them, firm can accomplish their targets and goals more effectively and efficiently. In
grocery store, there is the requirement of people so that firm can easily satisfy needs and
wants of their customers (Johnson and et.al., 2013). Promotional and marketing activities
are done by the marketing team's people so it is an essential part for the strategy
implementation.
 Finance: Fund is an essential factor for company for their daily operations. Along with
this, if ALDI wants to expand their business in market then they require sufficient money
for the same. Marketing and other activities are having a huge need of financial resources
so finance departments has to provide their full support according to the budget of the
company in the application of strategy.
 Technology: It is must for company to use new techniques in their business so that they
can improve effectiveness of their products and services. As result to, they can take
advantages from their competitors also.
 Relation with customers: Customers plays an essential role for survival of company.
Thus, manager has to make proper relation with their clients so that they can easily
improve their profits as well as reputation in marketplace.
4.3 Way in which use of SMART objectives can contribute to achieve strategic objectives
Staff members have to use SMART approach as it is a strategy that should be specific in
nature which having a great potential so that targets can be attained in a proper and appropriate
manner (Mithas, Tafti and Mitchell, 2013). They have to make relevant strategies and that should
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be implemented in a effective manner. Staff members of ALDI have to expand their business in
various countries. They have to make correct decisions on the basis of these strategies.
According to statement, SMART targets for ALDI are: Specific: It is a process which assist in doing work so that goals can be achieved. The
company want to increase 15% share in 6 months. Measurable: Employees of ALDI have to use this process so that they can achieve
targets. They have to divide their target into small forms. They have to analyse areas so
that funds can be arranged in a proper area. They have to measure their targets on a
regular basis. Attainable: Managers and employees of ALDI have to formulate their targets so that
goals can be achieve. They have to make correct decisions so that they can identify and
analyse time as well as have to put efforts so that targets can be achieved which are
related or associated to business (Li and Tan, 2013). Realistic: Goals of business entity should be realistic in nature so that they can maintain
their work and targets should be achieved in a specific time period.
 Time bound: Employers of ALDI have to deliver their targets in a specific time period so
that they can meet goals and objectives.
CONCLUSION
As per the above mentioned report, it has been concluded that manager of organisation
has to develop strategies so that they can accomplish firm’s set goals and objectives effectively
and efficiently. Along with this, they can determine the market which will assist them to expand
their business. There are various roles and responsibilities performed by the manager while
implementing the strategy. Also, it has been assessed that if organisation wants to execute the
strategy effectually then they have to use resources appropriately. In this report, there is the
description of organisational as well as environmental audit by which company can easily
determine their risks and opportunities. With the help of same, ALDI can effectually compete
with competitors in marketplace.
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