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Strategic planning for a business strategy

   

Added on  2020-10-23

13 Pages3761 Words79 Views
BUSINESS STRATEGY
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Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1. Evaluate impact and influence of the macro environment on an organisation and itsstrategies......................................................................................................................................1TASK 2............................................................................................................................................3P2. Analysis of the internal environment and capabilities of a company...................................3TASK 3............................................................................................................................................5P3. To evaluate the competitive forces by using Porter's Five force model...............................5TASK 4............................................................................................................................................6P4. Use a range of theories, concepts and models, interpret and devise strategic planning for afirm..............................................................................................................................................6CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTION Business strategy is referred to a tactics that is used by business organisations in order toattain their desired objectives and goals. It is considered as a long term business plan that helpsthe companies in sustaining a strong presence within marketplace. Usually, a business strategy isadopted by a company for three to five years. Strategies helps an organisation in acknowledgingthe quantity of resources required for a particular task (Akter and et. al., 2016). This assignmentis written in context with John Lewis which is a UK based departmental store, headquartered inLondon, UK. Company was founded in 1864 and successfully operating at more than 50geographic locations. This assignment will cover PESTLE and SWOT analysis so that businessenvironment can be acknowledged in a detailed manner. For understanding organisationalcapabilities, VRIO model is used. Analysis will be carried out to identify competitiveenvironment. Beside this, different theories, concepts and models are implemented in order toformulate an effective strategic plan that will helps the company in attaining desiredorganisational goals. TASK 1P1. Evaluate impact and influence of the macro environment on an organisation and its strategiesMacro environment is a situation in which entire economy is considered as a single entityrather than a specific region or sector. Macro environment includes GDP, fiscal and monitorypolicy, inflation, technology, society, environment, legal aspects etc. In this regard, manager inJohn Lewis can implement PESTLE analysis to acknowledge external business environment inan appropriate manner. Factors associated with PESTLE analysis are mentioned below: Political factor: These factors specifies the extent up to which a government and itspolicies can impact a business or an organisation. It involves political stability and policyalong with fiscal, taxation and trade policies. UK is politically stable but due to Brexit,nation has faced some political debates and uncertainties. As UK is a popular destinationfor FDI, it will benefit John Lewis in enhancing their market shares. For companiescorporation tax rate is 19% , if it will increase them this will impacts John Lewis in anegative manner (Chu, KrishnaKumarand Khosla, 2014). Economic factor: These aspects posses a visible impact on the economy of a nation dueto which organisational profitability got impacted. It includes employment rate, foreign1
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