Macro environment to determine and inform strategic management decisions

Business Strategy

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Appropriate framework to analyse macro environment for organisation.............................1
M1 Analyse macro environment to determine and inform strategic management decisions.....3
TASK 2............................................................................................................................................3
P2 Appropriate framework to analyse internal environment and capabilities of organization...3
M2 Analysis of internal environment to asses strengths and weaknesses of organization.........5
TASK 3............................................................................................................................................6
P3 Porter’s five forces model to evaluate the competitive forces of a given market sector.......6
M3 Devise strategies to improve competitive edge and market position based on outcomes....8
TASK 4............................................................................................................................................8
P4 Application of theories, concepts and models to interpret and devise strategic planning....8
M4 Strategic management plan that has strategic priorities.....................................................10
CONCLUSION..............................................................................................................................10
REFERENCES .............................................................................................................................12

INTRODUCTION
Each and every organization that wants to grow and need to gain larger market share then
it is required from them that they should conduct all activities in most appropriate and systematic
manner then a strategy should be framed and followed. Business strategy is helpful in conducting
all future task in systematic way so that all targets should be fulfil in limited period of time. This
type of action is helpful in gaining greater profit and larger market share in industry (Aharoni,
2015). Present report is based on Lloyds Bank which is famous and popular enterprise
established in UK. Business strategy are useful in optimum utilisation of all resources like
natural, financial etc. and this could be done by placing all resources in very effective place
where all source could be used on maximum. When all activities and task are done with
maximised efficiency then it is a capability of person that he/she have sufficient capacity to
formulate and implement business strategy.
TASK 1
P1 Appropriate framework to analyse macro environment for organisation
Management of every corporation require to have accurate and complete information
about market conditions which help them to acknowledge needs and wants of public. This help
them to design system and conduct activities to provide items and services in respect to
consumers requirements. PESTEL analysis is appropriate tool which is used by administration to
execute market research and survey to anticipate position and image of Lloyds Bank in market.
Political factors: This concept define that government formulate laws and act to regulate
and manage functioning of organisations. Administration require to make policies and strategies
in according to authority of country in which business is conducting operations. In Lloyds Bank,
management have make policies and tactics in according to regulatory bodies. This help firm to
make system function adequately and according to market situations (Ghosal, 2015). Authorities
require to take care that business operations are executed effectively and legal procedure is
followed by seniors.
Economic factors: This element specifies that interest and exchange rate, inflation are
various components which vary from one nation to another. Lloyds Bank is having branches
established in different nations which help administration to have large customer base. For this,
companies require to conduct operations and activities adequately.
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Social factors: This component define that organisation require to deliver different
variety of items and services in respect to needs and wants of public. It is necessary that
administration execute operations which help them to produce quality things and provide option
to consumers to make them purchase products in according to their taste and preference.
Management require to utilise funds efficiently and organise business work which help them to
deliver appropriate items and services in market (Higgins, Omer and Phillips, 2015).
Technological factors: This element specifies that management require to implement
appropriate tools and techniques in system so that adequate items and services are delivered in
market. It is essential that adequate technologies are used by members which help seniors to
utilise material efficiently and make employees perform tasks effectively. In Lloyds Bank,
management keep updating technologies and use software which help firm to deliver quality
services to clients. Along this, members be able to give things in respect to needs and wants of
people which benefit enterprise to improve market image of Lloyds Bank and position it higher
than other rival firms.
Environmental factors: This tactic defines that management require to take care and
design system and implement tools and techniques which help organisation to use natural
resources properly. Lloyds Bank consists latest technologies which help management to use
material adequately and deliver appropriate things in marketplace. With advancement in
technology, computer is best tool which helps organisation to keep record of clients and organise
activities propelry. Along this, seniors main responsibility is to deliver adequate things in
marketplace in according to needs and wants of people (Kalyani and Sahoo, 2011).
Legal factors: This component specifies that various laws are formulated by government
in respect to equality, discrimination, employment. Employer of Lloyds Bank have adequate
manpower so business operations are executed appropriately. Their main duty is to provide
duties to members on basis of their skills and abilities. Along this, workforce are given future
opportunities and compensation in respect to their performance and outcomes. This benefit
management to enhance market position and retain skilled and competent people for longer
period.
Thus, management of Lloyds Bank conducts PESTEL analysis to get information about
government legislations, technology, economic conditions, needs and wants of public,
environment tactics and legal procedure. Lloyds Bank is able to construct strong position in
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