Business Strategy

Business Strategy
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Table of Contents
Business Strategy.............................................................................................................................1
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
Macro environment influence on Morrison’s and their tactics..............................................3
Internal capabilities and environment of chosen MNC..........................................................6
Application of Porter’s five forces model..............................................................................8
PART B..........................................................................................................................................10
Strategic directions accessible to company..........................................................................10
Justification and suggestion based on right tactics and growth platforms...........................12
Development of strategic management plan in context of Morrison’s................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
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INTRODUCTION
Business tactic can be considered as set of competitive actions and moves that companies
in recent time use to gain attention of new buyers and sustain venture for long term period within
specific industry. It can be developed for several purposes that relate to success and excellent
progress of organizations. The current study will be based on Morrison’s, which falls under
category of leading multinational corporations in the United Kingdom. This study will explain
impact of macro environmental factors on chosen brand and their venture strategies.
Furthermore, it will define internal competencies and environment of company by using right
strategic concepts. This report will justify application of porter’s five forces framework to gain
competitive edge and clarify suitable strategic direction for selected MNC. Moreover, this
assignment will define different concepts, models and theories and then development of strategic
plan for firm operated within retain industry for longer period of time.
PART A
Macro environment influence on Morrison’s and their tactics
Mission-
The mission statement of company defines its concern towards consumer safety and
satisfaction. They want to deliver quality food items on time.
Vision-
Morrison’s vision is to become the best food provider and specialist for all its existing
and new consumers.
Objectives-
 The main objective of supermarket is to become more competitive
 To serve their services and products even better to everyone
 To enter into profitable market for increasing profitability and productivity
Mean of strategy-
Tactic can be described as a developed action that management within MNC like
Morrison’s would take to attain specific organizational aims in effective manner.
Role of tactics to achieve above elements-
Strategies play vital role in success and growth of company as it helps to achieve desire
outcomes and support to work according to plans.
Strategic planning approaches-
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There are range of techniques relate to above term has been accessible in the world of
business that Morrison’s can use. It include balanced scorecard, Pestle, VRIO framework,
strategy map, SWOT, porter’ five factors etc.
Stakeholder analysis-
High power and interest- Keep satisfied
National and local authorities in UK who develop rules and policies have strong power in
context of decision making and high interest in growth of Morrison’s business because it is one
of its income sources (Kneale, Rojas-García and Thomas, 2019). Organization should always
satisfy them by following governmental rules and regulations, which in return help to achieve set
objective and aims of venture on time in systematic manner.
High power and low interest- Manage closely
Customers can be considered as second stakeholders who are able to increase price of
each grocery items according to their needs that define its power, but are less interest within
specific thing because of alternative goods accessibility (Glaveli, 2020). In order to sustain
business within retail industry and increase profitability for longer period of time, firm have to
manage their buyer’s needs more closely as they can influence current pricing strategy in
negative manner.
Figure 1Stakeholder Matrix
(Source: Types of Stakeholder Matrix, 2019)
Low power and high interest- Monitor
There are some stakeholders available in market that have low power to take decision,
but has highly interested to work with well reputed company like Morrison’s. Manager is one of
them, who could not be able to take judgement about hire applicants, but he or she want to work
with firm for long, they can impact current hiring strategy of supermarket by executing it.
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