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Business Strategy - John Lewis Assignment Sample

   

Added on  2021-02-20

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Business Strategy

INTRIDUCTION Business strategy is define as activities that are used by a firm in order to developcompetitive action as well as strategies which an organisation can be used in order to attract theirpotential service users. Along with this, it will also leads to several other achievements such asimproving performance, developing goal and objective and many more (Brewster, 2017). Itcanalso aid a firm management in creating plan of action which help them in achieving its desireends or goal. Organization selected for respective report is John Lewis which is a public limitedcompany that operate at retail industry. It is funded by John Lewis in the year 18694 and itsheadquarter is establishedin London , United Kingdom. Thisorganization serve variety ofmerchandise ranges at worldwide level. Topics which are included in this are report aredefinition of business strategy, impact of PEST analysis, evaluation of stakeholder analysis aswell as it will also include analysis of strategic capabilities through VRIO and SWOT. Alongwith this, respective report will also include determination of competitive forces and strategiesdirection through the use of proper method or theory. TASK 1a)It is define as approach of activity and decision which assist enterpriser to accomplish itscompany goals as well as targets in better as well as productive manner (Laudon and Traver,2016). In other words, it is a type of master plan which helps organisation to enhance theirposition at competitive marketplace and give cut throat competition to rivals. The primaryaim ofmaking kind ofrespective plan of action is to helps in accomplishingeffectualnessas well asexplore opportunities that can assist a company in expansion of its business. In addition to this,by implementing effective business strategy it helps the company to acquire customers and retaintheir existing customers for hugeduration. In context of respective organisation, by makingeffective business strategy, the company will be able to build strong brand image as well as willalso secure its position at marketplace. Along with this, respective company will also able tomeet external threats as well as challenges in effective mode. b)PESTEL AnalysisPolitical:1

This factor is define as a change in political policies, instability that is formulated by thegovernment that affect the operation and functions of firm(Lawton, 2017). In respect of JohnLewis, if the company is enters uphill marketplace in which United Kingdom is the region ofEuropean Federal. It is possible because rivals form Europe can enter the UK market without anybarrier. For example, authorities of United Kingdom decided to reduce the corporate tax to 28%(John Lewis PESTEL Analysis, 2019). This will provide an opportunity to the respectivecompany to enhanceits profits as well as market share. Economic:It is define as those factor which occur when there is changes in interest rate, exchangerate and others that affect transactions with other countries. Due to this, there is great impact onthe profits of organisation. In reference of respective organisation, the company is operating inUK which is facing the problem of recessions well as changes in interest rates. There is toughcompetition in every sector that belongs to retailing which is more concerned in givingincentives to customers. Due to this, prices of John Lewis is greatly influenced as well as getsdecreased. This affect their sales as well as profitability ratio. Social:In this factor, the main focus is on societies, communities and other which is related tosocial factor. These factors have a great influence on sales and profits of the company. Aspreferences of customers keeps on changing, opportunities in the market becomes morematerialistic. In context of John Lewis organisation, they have to focus more branded products inUK market so that they can meet customers need and make them satisfy with their services andgoods.Technological:It is one of the major factor that influence quality of services and goods of organisation.In respect of John Lewis, company make effective use of advance technology which will assist inenhancing quality of their commodityas well as services and extra value in it. This will helprespective company to differentiate their product from their competitors as well as secureposition at competitive market place.Environmental:These factors are concerned with change in environmental laws such as production ofeco-friendly products, chemical free goods and many more. In reference of respective company,2

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