Business Strategy Report - Aldi
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Added on 2020-07-23
Business Strategy Report - Aldi
Added on 2020-07-23
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Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................11.1 Assessing the goals, mission, vision and objectives in strategic planning............................11.2 Factors needed to be focused while formulating strategic plans...........................................21.3 Evaluation of usefulness of different methods by explaining BCG growth matrix, SPACEand PIMS techniques...................................................................................................................32.1 An audit and explanation of the current business strategic of Aldi......................................52.2 An environment audit for Aldi..............................................................................................52.3 Assess the significance of stakeholder analysis for Aldi when formulating new strategy...72.4 New strategy of Aldi.............................................................................................................8Task 2 ..............................................................................................................................................83.1 Analysing appropriateness of suitable strategy.....................................................................83.2 Justification of limited growth strategies for market entry and growth..............................10Task 3.............................................................................................................................................104.1 Assessing the roles and responsibilities of personnel which are involved in strategicplanning.....................................................................................................................................104.2 Analysis of the resource requirements for the implementation of new strategy.................114.3 Evaluating contribution of SMART targets in achieving the strategic objectives..............12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14
INTRODUCTIONBusiness is the method which is used for implementing new techniques in order toachieve long term objectives and goals. It is the process which helps in establishing the vision,mission policies, plans etc. Strategic management assist in coordinating and managing differentfunctions of various areas of the business. Aldi is retail industry which sells food products,beverages, household goods and sanitary articles. It has 10,000 stores in 18 different countries ofthe world. It was established by two different groups in 1962. It was later named as Aldi Nordand has total revenue of €53 billion (Sia, Soh and Weill, 2016). In this report the main tasks involved are Aldi's mission, vision, goals, corecompetencies. Further, the analysis on the factors of strategic planning are considered.Organisational and environmental audit for Aldi is conducted. Importance of stakeholder inAldi's new strategy are assessed. Additionally, new strategy is made and its appropriateness interms of growth is analysed. Moreover, roles and responsibilities of personnel are defined forimplementing new strategies. Analysis of different resources which are essential for new plansare discussed. Moreover, evaluation of how smart targets helped in accomplishing objectives ofthe organisation are considered.Task 11.1 Assessing the goals, mission, vision and objectives in strategic planningMission:The main vision of Aldi is to provide the best customer services by providing them highquality of goods and products. It also offers their services in most innovative way.Vision:Vision of Aldi is to increase its profits by valuing their customers, stakeholder etc. Thecompany is focusing on providing their services globally. Objectives:Objective of Aldi is to grow its business and diversify their retailing services.They havegiven more concentration on increasing their marketing strategies to increase their sale. Coregoal of the organisation is to gain customer loyalty towards their product (Agrawal, 2016). Theyare also focusing more on providing the branded goods and services at lower price so that it canbe afforded by every level of people.Core competencies:1
Business network of Aldi is the main factor that assist it to achieve its long termobjectives and goals. Further, it has focussed on its brand quality and price which can attractmore customers and increase their volume.1.2 Factors needed to be focused while formulating strategic plansPolitical, economical, social, technical, legal and environmental are the main factors thatshould be more focused by the organisation while implementing new strategies. These factors aredefined as follows: Political factors:Political factors includes government policies and plans. Aldi is affected by the politicalfactors as the government of different countries has different rules and regulations which affectsthe company growth and business strategies. Aldi has to set their prices by including tax andother government charges so that it can increase its overall sale. Different countries has differentrules which the company has to follow to increase its sale.Economic factors:2Illustration 1: PESTLE analysis(Source:PESTEL Framework , 2017.)
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