Business Strategy: Analysing Macro and Internal Environment of Morrisons

This study analyses the impact of macro environment, internal environment and capabilities of Morrisons, and evaluates competitive forces using Porter's Five Forces model. It also applies various theories and models for strategic planning.

BUSINESS
STRATEGY

Executive summary
The strategic management plan is the document describing the goals of organisation by
setting priorities and using the resources. It takes the actions to achieve goals. Business strategy
is a part of strategic management. The company should apply the various business strategies
according to the market trend and analysis the competition, the company should gin the market
knowledge in respect to customer needs and requirements. The various strategies involve SWOT
analysis, PESTEL analysis, VRIO model generic porter’s strategies etc. all this provides the
information regarding the market and company position and help to compete with the
competitors. Morrisons focus on expansion of market share by entering in new markets. It provides
improved service quality for enhancing consumer choice and enhances customer satisfaction and
loyalty by collaborating with more restaurants across the world. The plan is made on Morrisons and
evaluating the several growth strategies to enhance growth.

Contents
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
P1 Analysing the impact of Macro Environment..............................................................1
P2 Analysis of internal environment and capabilities of organisation............................3
P3 Application of Porter's Five Forces to evaluate the competitive forces.....................6
PART B............................................................................................................................................7
P4 Application of theories, and models for strategic planning........................................7
CONCLUSION..............................................................................................................................11
References:.....................................................................................................................................12

INTRODUCTION
The business strategy is related to the aspect of planning which helps in achieving the
goals by making effective utilization of resources. The business strategy is the set of decisions or
course of actions which helps the person in achieving specific business objectives. It acts likes a
master plan of company management to secure a competitive position in the market carried on
operations (Benzidia, S and et.al., 2021). The study is being done on the Morrisons founded in
1899 by William Morrison which is the largest chain of super market in UK. It deals in the
product of food and drink, clothing, books, magazines and many more. In study impact of macro
environment, assessing the internal environment and capabilities of an organisation is being
covered. Further, Porter's five force model is evaluated in competitive forces and applying range
of theories or models to have an understanding of business strategy.
PART A
Introduction
The business strategy is the set of decisions or course of actions which helps the person in
achieving specific business objectives. It acts likes a master plan of company management to
secure a competitive position in the market carried on operations. In study impact of macro
environment, assessing the internal environment and capabilities of an organisation is being
covered of Morrisons. Further, Porter's five force model is evaluated in competitive forces to
gain the efficiency.
P1 Analysing the impact of Macro Environment.
It is defined as circumstances which exits in the economy related to aspects of internal
and external environment and the component of strategic planning involving PESTLE Analysis,
Stake holder Analysis and SWOT.
PESTLE Analysis
The tool is used by marketer for evaluating and observing macro-forces putting impact on
organisation.
 Political factor- This is related to policy of government involving tax policy, tariffs,
trade restrictions affecting business. The Morrisons was affected with the change in
policies and regulations which created lot of uncertainty where the Brexit was the major
political event. Due to multiple government legislation, there was huge impact on
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Morrisons. It requires the political stability to carry out its business globally (Björkdahl,
J., 2020).
 Economic factor- It is concerned with the economy aspects including economic growth
rate, inflation, interest and exchange rate. The emerging of Brexit created major
fluctuations in currency and created inflationary pressure which affected Morrisons in its
growth. The inflation affects demand of Morrisons by increasing the prices which lowers
the level of brand loyalty.
 Social factor- This involves the society of cultural and demographic trend considering
factor of health consciousness, population growth rate, age distribution etc. The
Morrisons have business opportunities due to rising of age population. To attract the large
customers Morrisons can launch new brand positioning with TV Campaign (Cavaleri, S.
and Shabana, K., 2018).
 Technological factor- It is regarding the innovation which affects entire economy
comprising of automation, technological advancements factors. The Morrisons takes the
use of artificial intelligences to drive it sales & stack its stores. The technology
investment helps in reducing waste & makes business cost effective. The investment in
R&D will help in building self-sustaining ecosystem driving innovation.
 Legal factor- It defines the legal forces of an organisation involving governmental
bodies, laws & policies. The Morrisons is required to comply with all the legal laws such
as food safety and legal standards, securities law, health and safety laws etc.
 Environmental factor- This is aspect of ecological impacting on business related to
weather conditions, and climatic change. The Morrisons aims to remove carbon
emissions and reduce of poly boxes from supply chain. The Morrisons is required to
comply with waste management and recycle policies (Centobelli, P and et.al., 2020).
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Stakeholder Analysis
It is a technique of understanding, determining and prioritizing all stakeholders in
accordance to their power an interest over a business. It is an aspect of stakeholder management.
The main purpose is to identify those stakeholders who have involvement in business directly or
indirectly.
 High power, highly interested people- In this stakeholder of Morrisons have active
participation in business activities by holding high power which puts high influence on
people. The stakeholders are CEO or top management. It helps in making effective
decision and strategies.
 High power, less interested people- The stakeholder of Morrison have the power of
ruling business but having low interest regarding activities of business and having low
influence involving suppliers, investors. They help in providing necessary supplies to
meet the objectives (Daryousef, M., 2019).
 Low power, high interested people- The power of Morrisons stakeholder is low bu5t
having high influence and interest in business operations which consider employees,
leaders. Their performance helps in accomplishing business objectives by utilising
resources efficiently.
 Low power, less interested people- The stakeholders have low power and interest in the
operations of business which are labour (Epure, M. ed., 2018).
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SWOT Analysis
It is an framework used for evaluating the company competitive position by developing
strategic planning. It helps in assessing internal and external factors with the current and future
potential.
 Strength- The Morrisons have the efficient supply chain & distribution network. It has
the strength of offering large product portfolio to customers such as food, clothing etc. it
has 500 stores in UK with the employee strength of 130,000. The facility of online
retailing and shopping increased the business sales and brand loyalty.
 Weakness- The weakness for Morrisons is it has limited geographical reach in
comparison to other brands. It makes delay in adapting changes. The company have
weakness in marketing skills and weak brand image in comparison to others (Fayena, I.
and et.al., 2020).
 Opportunities- To meet the demand of customers the Morrisons has the opportunity of
tapping into organic products due to growing market. It has the opportunity of
international expansion boosting the sales and overall business.
 Threats- The increase in competitors market share affects profit margin of Morrisons. It
also faces the threat from increase in taxes or change in Government policies. The rise in
competition from competitors is a threat for Morrisons (Horne, M.S., Williamson Jr, T.S.
and Herman, A., 2018).
From above it can be said that assessing the macro environment of PESTEL, Stakeholder
analysis and SWOT analysis helped the Morrisons in knowing the factors which can impact on
its business operations. The company can manage the policies and have the opportunity of
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technology advancement which will help in attracting large customer base, increasing sales and
productivity.
P2 Analysis of internal environment and capabilities of organisation.
It is related to the elements of business structure which is defines relationship and
activities that are carried inside business. The internal analysis helps in knowing the company
resources, competencies and competitiveness which helps in making better decision and growth
of Morrisons by developing and implementing strategies (Kaliappen, N. and Hilman, H., 2017).
The Resources based strategy is a managerial framework of organisation by which strategic
resources are determined to have the competitive edge. The organisation assets, capabilities &
competencies are identified by focusing on the internal resources. The use of RBV model helped
Morrisons in fulfilling new opportunities through existing resources by using innovatively. It
includes the framework of VRIO Analysis, and McKinsey framework.
VRIO Analysis
To evaluate the company resources, it is used as analytical technique through which
company can ascertain resources and capabilities to have competitive advantage. The Morrisons
uses to examine the internal resources.
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 Valuable- In these resources are considered valuable when the firm attains sustainable
competitive advantage. The financial resources are considered to be valuable for Morrisons
helping in investing external opportunities. The employees for the Morrisons are valuable
as they ate highly trained leading productive outcome for organisation. The distribution
network is also considered valuable by providing products to every outlet & helps in
reaching more customers (Kompalla, A. and et.al., 2017).
 Rare- There are some resources which are considered as rare as only few firms can acquire.
The strong financial resource is founded to rare in Morrisons as it can be possessed by the
few companies. The Morrisons employees are rare as they are highly skilled and trained in
comparison to other firms. The distribution network is also rare for Morrisons as
competitors needs lots of investment to have a better distribution network.
 Imitable- It provides the company a first mover advantage but the competitors try to
imitate their resources. The valuable and rare resources help in strategies that other
company cannot pursue. The financial resource is costly to imitate of Morrisons because
competitors would also require the similar profits for accumulating number of financial
resources. The patents are challenging to imitate of Morrisons because it does not allow
legally to imitate an patented product (Oguji, N. and Owusu, R.A., 2021).
 Organisation- To have the competitive advantage the company itself is required to
organise resources to exploit advantage and derive value. The resources of Morrisons are
organised in efficient way which helps in capturing the market share and value. The
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financial resources, distribution network is organised effectively which helps in attracting
large customer base and sustains the competitive advantage.
McKinsey framework
It is a model of organisational effectiveness which postulates the organisation internal
factors that necessarily to be aligned and strengthened to facilitates success. It is a mixture of
hard and soft skills which are influenced by corporate culture and management. It is a structure
of 7S.
 Structure- The company structure of Morrisons is made with hierarchy, chain of
command, which describes interconnection and functioning of business operations. It
forms the organisational chart to have the accountability relationship (Saskara, I.A.N. and
Marhaeni, A.A.I.N., 2017).
 Strategy- It is related to plan that organisation develops to being competitive in market
and long-term strategy is established by communicating organisation goals and
objectives. The Morrisons follows the cost leadership strategy to have the market share.
 Skill- This consists of organisation staff and management capabilities and talents which
assess achievements and working that company can accomplish. The Morrisons render
training to their employees to develop more skills to cope with challenges.
 System- It is related to the company daily procedures, workflow, and decisions which
helps in making standard operations. It has broad range of system for sustaining
operations and works in the systematic way (Schaefer, J.W., 2018).
 Style- It defines the approaches that management takes to lead the company, influencing
performance, productivity and culture of corporate. The Morrisons adopts the effective
management and leadership style to motivate the employees for improving performance.
 Staff- It is associated with personnel of company that are trained and motivated to
accomplish the task. Specific strategies are followed by the staff members for improving
the level of productivity and efficiency.
 Shared values- These are related to the standards and norms of company influencing
behaviour of entire staff and management. The main aspects of Morrisons are aligned to
maintain the organisational design effectiveness (Schaltegger, S. and Wagner, M. eds.,
2017).
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From above it can be said, that analysis of VRIO frame work helps the Morrisons in
knowing the resources that are valuable or rare and imitable or organised which helps in gaining
growth by using the resources in efficient way. The framework of McKinsey comprises of 7S
which help the company in knowing their potential of capabilities and competitiveness.
P3 Application of Porter's Five Forces to evaluate the competitive forces
This model helps in identifying and evaluating the competitive forces of a firm to know
their strength and weakness. It helps in knowing the level of competition and increases the long-
term profitability.
 Threat of new entrant- The emerging of new entrant will increase the competition level
and brings additional capacity. The new entrant brings the innovation which forces
Morrisons to lower pricing strategy, cost reducing and offers new value propositions to
customers. To tackle this threat the Morrisons can innovate new products and services to
attract more customers and to differentiate its product. It can create economies of scale by
lowering the prices (Stewart, and et.al., 2021).
 Bargaining power of suppliers- The power of supplier affects the overall profitability as
the company purchases raw material from several suppliers. The suppliers having
dominant position decreases the margin of Morrisons. The power is low as there is less
control on the prices. The products are less differentiated and low switching cost which
makes weak power. To tackle this Morrisons can build efficient supply chain with
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multiple suppliers. It can also purchase raw material at low cost from suppliers or it can
switch suppliers.
 Bargaining power of buyers- The demanding of buyers is lot as they want to purchase
by paying minimum prices. The Morrisons faces pressures on the long run profitability.
The powerful customer base leads to high bargaining power and high ability of seeking
increasing discounts and offers (Björkdahl, J., 2020). To tackle this Morrisons can build
large customer base which will help in lowering power of buyer and provide opportunity
to increase sales and production process. The products can be innovated to seeks the
discounts for customers.
 Threat of substitute products and services- The profitability of Morrisons is suffered
when new product or service meets the demand of customers in similar way. The threat
can be high if offers value proposition which is different in unique way from present
offerings. The limited selection of differentiating factor makes challenging for consumers
to switch from the super branded products. To tackle this the Morrisons can increase the
switching cost for customers. It can offer quality products in contrasting to substitute
products.
 Competitive rivalry in market- The intense rivalry in Morrisons leads to down prices
and decreases overall profitability. The rivalry in the industry is high due to upsurge in
commodities of demand and supply (Cavaleri, S. and Shabana, K., 2018). The
competitors are Tesco, Sainsbury etc. To tackle this Morrisons is required to carry market
research for knowing supply-demand situation and it can centre on new consumers for
the commodities. With this it can also build sustainable differentiation and collaboration
with competitors to enhance the size of market.
From above it can be said that, the competitive forces provide the complete picture on the
profitability that impacts the Morrisons. It also benefited in analysing the competition. The
company faces internal pressure from the bargaining power of supplier and buyers and external
pressure from the competitive rivalry, substitute products and thereat of new entrant in market.
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PART B
Introduction
The organisation it requires the proper planning and flexibility in designing for the purpose
of mobilising resources, meeting challenges and threats, perceiving and utilising opportunities
etc. It is a competitive move by business for attracting the customers to achieve the
organisational goals by strengthening performance. The several theories and models is been
applied on Morrisons to enhance the productivity by using porters generic strategies, Bowman
strategy clock and Ansoff model.
P4 Application of theories, and models for strategic planning
The strategy is defined as the general plan which helps in achieving long term goals in
the situation of uncertainty (Centobelli, P and et.al., 2020). The strategy helps in setting goals
and priorities, determines actions and mobilize resources to execute the action plan.
Porter's Generic Strategies
It is an strategy which defines the competitive advantage of the company that in what
way it pursues in the market scope. The cost is lowered or product is differentiated to gain the
advantage of competitiveness.
 Cost Leadership- The firms become low-cost producer to gain the competitive edge by
lowering the prices in a target market. It considers the factors of economies of scale,
technology, and access of raw material (Daryousef, M., 2019). The Morrisons uses to
preserve the cost leadership through applying value chain management efficiently. There
is an expansion of market by concentrating on consumers to have the importance of
pricing factor. The sales growth and brand awareness are increased.
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 Cost Differentiation- In this firm differentiates its products from competitors to look
unique in Marketa. The one or more attributes are selected and position uniquely to meet
those needs. With the premium price the uniqueness is awarded. The new and innovative
products are offered by the Morrisons to customers. Through this the customer base is
expanded by offering unique features of commodities that helps in achieving growth
objectives (Epure, M. ed., 2018).
 Focus- It is an last strategy of generic model where there is a selection of group of
segments which has two variants cost focus strategy and differentiation focus strategy.
To gain the competitive advantage it serves to the particular market segment in niche
market. The Morrisons adopts to offer the best value by reducing the cost.
Bowman’s strategy clock
This strategy was developed by the two economists Cliff Bowman and David Faulkner.
The main focus of this strategy is to make companies aware regarding their position in the
market in comparison to competitors (Fayena, I. and et.al., 2020). It is an marketing model
which highlights in what way business can position its product and services.
 Low price and low value added- The competitive edge can be achieved by keeping
price low that business uses to compete with the competitors. The pricing of product and
service in Morrisons is low which is not distinguished and little value is perceived by
customers. It is not a suitable competitive position for Morrisons (Horne, M.S and et.al.,
2018).
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 Low price- In this large quantity of product are produced and are valued in target market.
The products are sold at the lower price leading low profit margins but still high amount
of profit can be generated by having high volume of profit in Morrisons. It is considered
as cheap market leader focusing on cost minimizations.
 Hybrid- It is an effective strategy for the Morrisons value is added in the product of
consistent nature. The Morrisons focus on product differentiation which creates the
product of high value in market & customers mind.
 Differentiation- The Morrisons focus on branding rather than the product quality. The
offering of the product is at average price that wishes to offer customers high level of
perceived value which makes distinctive identity in market. The customers are ready to
pay higher prices for high quality products (Kaliappen, N. and Hilman, H., 2017).
 Focused differentiation- This strategy is applicable on the brands of luxurious products
or exclusive products that have high quality and sell on higher price. The Morrisons
attain higher profits by targeting promotions, marketing, and segmentation strategies.
 Risky high margins- In this high price for the product is charged that perceive moderate
value by the customers. It is a risky strategy for the Morrisons for positioning in long run.
The customers seek for better quality product in similar price range for the objective of
value for money (Kompalla, A. and et.al., 2017).
 Monopoly pricing- In this company position themselves as monopoly market leader in
the market as they are one in offering specific type of product. The Morrisons do not
have the fear of facing competition as there is one determinant for product pricing. The
customer has no choice regarding the product purchase even they have to buy on the
higher prices which puts less effective for Morrisons.
 Loss of market shares- This strategy is not desirable for the organisation as it denotes to
worse position or the company is in declining stage (Oguji, N. and Owusu, R.A., 2021).
The Morrisons in this stage is not able to offer the products that is valued by the
customer. The customers are not interest in product purchasing as prices are high.
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Ansoff matrix
It is a marketing model used for determining the company product and marketing growth
strategy. It is a stage of marketing planning process. It displays four strategies that is used by
organisation for their growth.
 Market penetration- In such strategy the firm in existing market uses its product for
increasing the market share by declining in prices for attraction of customers. The
Morrisons can increase its promotion and distribution efforts for increasing sales
(Saskara, I.A.N. and Marhaeni, A.A.I.N., 2017).
 Market development- It is a strategy of creating new market for the same products
which seeks the expansion in geographic region, customer segments. The Morrisons can
have market development by entering into international market or catering different
customer segments or it can have regional expansion by entering into domestic market.
 Product development- This is the strategy where new product is developed by the
company in same market by having research and development and expanding company
product range. It can be employed by the firms after having strong knowledge of market
to provide innovative solutions to meet needs of existing market (Schaefer, J.W., 2018).
The Morrisons can have product development by adding new features in the same
product. The Morrisons can acquire product or resources can be merged to meet the
demand of existing market.
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 Diversification- This is strategy where the firms enter into new market with new product.
It is a risky strategy for both the development of market and product. With the help of
diversification, the risk can be minimised and offers the great potential for increasing
revenue (Tsai, S.C., 2017).
From the above it can be said the Morrisons can opt differentiation strategy of porter’s generic
from bowman strategy it can choose hybrid and product differentiation which will help the
company in differentiating product from the competitors by involving new and unique features
which facilitates in higher profit and sales by offering innovative products. From the Ansoff
matric Morrisons can choose strategy of product development for the growth.
Strategic management plan
 Business description- The Morrisons is supermarket in UK which is established in 1899
which employees 1,10,000 employees and serve around 11000 million customers. It has
497 stores. The vision statement to become great leaders in the UK for sustainable future.
The mission statement is to use experience and designing innovation for providing
flexible and responsive solution of product. To be competitive in market by improving
product feature and specification (Yasir, M and et.al., 2020). To enhance sales by 25% by
1 year.
 Market analysis- This involves the analysis of STP for attracting more customers and
increasing sales. The segmentation of Morrisons targets the market segment on the basis
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of age group and on basis of demographics. The targeting of Morrisons targets to every
class of people providing quality products and services. The positioning of the Morrisons
will be through by making product unique, providing better customer services.
 Marketing Strategies- The Morrisons can have the strategy of product development for
customer attraction and increase in sales by offering innovative products in same market.
 Marketing tactics- Product: It offers varieties of products and focuses on fresh food.
 Price: It uses premium pricing for encouraging favourable brand products.
 Place: The company makes products available to all geographic region and in all the
stores.
 Promotion: for the product promotion it makes the use of various promotional
techniques such as digital marketing for more customer interactions (Zhou, P. and
Wen, W., 2020).
 Monitoring and controlling- The bench marking tool can be used by Morrisons for
making comparison with the actual performance with plan.
CONCLUSION
From the above analysis it can be said that implementation of appropriate strategies helps
the company in growth and leading to success. The businesses are expanded by making the
strategy which clearly defines the company objectives, mission etc. The clear strategy helps in
providing clear understanding to employees, accountants, borrowers and investors regarding the
business. The good strategy helps business in earning long term profit. The company takes in
account several growth strategies in accordance to marketing trend and analysis of competition.
The business is required to have proper market knowledge to meet the demand of customers and
their requirements.
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