Report on Business Strategy of ALDI company - doc
Added on 2020-06-05
23 Pages7184 Words49 Views
Business Strategy
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 ALDI's mission, vision, goals & objectives and core competencies................................11.2 Analysing factors that have to be consider while formulating strategic plan...................21.3 Usefulness of techniques while developing strategic plan...............................................3TASK 2............................................................................................................................................52.1 Organisational audit for Aldi............................................................................................52.2 Environmental audit for ALDI.........................................................................................62.3 Stakeholder analysis.........................................................................................................72.4 New strategy for ALDI.....................................................................................................8TASK 3............................................................................................................................................93.1 Identification of market analyse appropriateness of suitable strategy..............................93.2 Justification for the chosen strategy for market entry and growth of ALDI..................10TASK 4..........................................................................................................................................104.1 Assessing roles and responsibilities of personnel for the implementation of strategy...104.2 Analysis of resource requirement for strategy implementation.....................................114.3 Way in which use of SMART objectives can contribute to achieve strategic objectives11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13.......................................................................................................................................................14
INTRODUCTIONEach and every organisation has to develop some plan for their business so that they canattain their set objectives in an effective and efficient manner. Manager of company have toprovide 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 themarketplace that will lead to increase their profits. With the help of this, goodwill of firm in themarket would get improved as well (Ackermann and Audretsch, 2013). It will assist the firm intheir growth as well as development. Enterprise has to formulate strategies properly so that theycan attain their desired goals and targets within stipulated time frame. This report is based onALDI which is a grocery retail outlet in the UK. They have almost 550 stores in all over theworld. In this assignment, there is a description of mission, vision, objectives as well as corecompetencies of firm. TASK 11.1 ALDI's mission, vision, goals & objectives and core competenciesALDI is a supermarket chain which is situated in UK and they are providing theirservices all over the world. They have almost 10,000 stores in approx 18 nations. It is essentialfor each firm to set some guidelines first for their business and they work on them. It assists themto accomplish their work more effectively and efficiently. Along with this, it is essential for themanager of ALDI to develop a healthy work environment in premises so that workers can dotheir 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 ofALDI are like:VisionIt is like a written statement of company which is related with theirassociation that in coming years where they want to see themselves. Directorof ALDI wants to develop something unique as well as revolutionarytechniques so that they can take competitive advantages form their rivals. Asresult to, it will assist them to improve their revenues and additionally theirmarket strength is get enhanced. ALDI wants to expand their business in allover the world.MissionIt serves as a guideline for organisation which will help them to survive for1
longer duration in the marketplace. Along with this, they can achieve theirdesirable goals within a specific time period. Company wants to fulfil needsof their customers timely. Additionally, they want to increase their profits.They provide goods and service at less prices, thus they can attract moreclients towards them and their distribution system is also effective so thatthey easily accomplish demands of each and every sort of buyers.ObjectivesIt may be for short and long term both but most of the firms want to survivefor long term in market (Armstrong and et. al., 2015). Thus, it is essentialfor them to develop an effective plan for their association so that they canaccomplish demands of clients and increase the profits.GoalsIt is necessary for enterprise to set their goals which are appropriate as wellas that can be achieved within stipulated time span. Along with this, goalsmust be measurable so that it can be measured with setted objectives in aneffective manner. CorecompetenciesALDI's strategies are totally different from other organisation, which assistthem to take advantages from their competitors in marketplace. Along withthis, it will help them to increase their profits and goodwill in market. Theyprovide 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 planWhile preparing an effective strategy for company, manager has to determine internal aswell 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 organisationhas increased by 19.8% whereas major rivals grew only up to 1.6%. Thus, it is essential for theenterprise to maintain it properly. There are some factors that have to be considered whileformulating strategic plan. These are mentioned as beneath:Internal factors: Factors which are related to business entity internally are known asinternal factors. These all are termed as suppliers as well as labours who assist in running theoperations more effectively. It will help company in their survival as well as accomplish targetswith time period. If managers in ALDI become unable to satisfy the needs and wants of their2
workers then they may do strikes, lockouts and so forth. As a result, it may influence theirprofits. Additionally, if there are conflicts amongst suppliers as well as management then it canput a huge impact on their brand image.External factors: Elements which can affect an enterprise externally are considered asexternal factors. They are unpredictable and out of control (Bharadwaj and et. al., 2013). It maycomprise of factors like political, economic, social and technological. All these elements canaffect business decision making process either positively or negatively. They are explained asfollows:Political: It is essential for each and every kind of organisation to determine thosecountries whose government is much stable in nature. If ALDI is going to set up theirbusiness in a new country then it will be affected by their political environment. Thus, itis necessary for the firm to determine political nature so that their working would not getinfluenced.Economical: Management has to fix value of their products and services as per theeconomic position of nation as it determines the spending power of people. If theinflation 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 businesswhich never be harmful for society. Such as they have to reduce wastage, so that they canreduce wastage and protect environment.Technological: ALDI has to update their techniques according to time so that they cancollect essential data and information effectively which will aid them to manage theirstock.There are some other factors which can also affect business while formulating strategies, arementioned as below:It is essential for company to accomplish needs and wants of their customers as per theirdemands, so that they can improve their profits.If they want to take competitive advantage from their rivals, then it is must for them tomaintain quality of their products and services. Along with this, prices must beaffordable, thus people can easily purchase goods.3
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