Business Strategy Research: A Bibliometric Analysis

This assignment tasks students with conducting a bibliometric analysis of business strategy research. Students must examine a set of journal articles on the topic, identifying trends, influential authors, and key concepts within the field of business strategy. The analysis should culminate in a summary of the main findings regarding the evolution and current state of business strategy research.

Business strategy

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Aldi's mission, vision, objectives, goals, core competencies ..........................................1
1.2 Factors considered by Aldi while formulating their strategic plans.................................2
1.3 Evaluating effectiveness of techniques used in strategic planning..................................3
2.1 An organizational audit for ALDI....................................................................................4
2.2 An environmental audit for ALDI....................................................................................5
2.3 Significance of stakeholder analysis for ALDI................................................................5
2.4 New strategy for ALDI.....................................................................................................6
TASK 2............................................................................................................................................7
3.1 Analysis the appropriateness of suitable strategy for ALDI in relation to substantive
growth, limited growth or retrenchment.................................................................................7
3.2 Selection of strategy.........................................................................................................8
TASK 3............................................................................................................................................9
4.1 Roles and responsibilities of personnel who involves in strategy implementation..........9
4.2 The resources requirement for implementing strategy...................................................10
4.3 The use of SMART target and its contribution in strategic objectives..........................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
In today's business environment, every company formulate some specific strategies to
execute their task in an appropriate manner. Basically, it is an effective process for implementing
business plan to achieve desirable results. The main purpose of preparing business strategies is to
increase the overall growth of the company at market place. With the help of this, firms
accomplish their targets and also determine the way to attain it in particular time scale (Business
Strategy, 2017). It includes company mission, vision, goals and objectives which lead in
attaining higher success at competitive market. Present report is based on ALDI, which is a
popular grocery retail company in UK. At present, they operate approximately 550 retail stores
in Germany. In this report, various techniques and policies are mentioned which helps in
evaluating mission, vision, goals and objectives of the company. Along with this, organisational
and environmental audit is also discussed in this assignment. At last, SMART objectives is also
mentioned which aid in achieving strategic objectives.
TASK 1
1.1 Aldi's mission, vision, objectives, goals, core competencies
Every organization determine their outlines before setting new business in which they
perform their activities to attain their target in appropriate time period. It is one of the important
process for company to execute their task for attaining better results. In context of ALDI,
business strategy is a significant process which assess the actual position in market place. By
using effective strategy ALDI determine their mission, vision, goals, objectives and core
competencies in order to attain higher success at market place by increasing satisfied customers
within their company.
Mission of ALDI:
It is one of the important statement which define the appropriate guidelines to the
company in which they easily execute their activities to attain the vision. With the help of this
company achieve their target in minimum time frame. In this, mission statement of ALDI is to
“provide quality services at affordable price” which helps in increasing the profitability level
(Azar, 2011). In this ALDI service variety of products and services to its customers. By this
company increase customers base within their organization and also attain competitive advantage
in market place.
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Vision of ALDI:
It is a written statement which define the future aspect in which company wants to see
themselves. In context of ALDI, they wants to introduce new and innovative services at keen
competitive market. With the help of this company increase their profitability level and also
improve strength at market place.
Goal and objectives:
For attaining higher position at market, it is important for organization to accomplish
their goals in systematic way (Bucolo and Matthews, 2011). The main objective of ALDI is to
achieve set goals in appropriate time frame which helps in measuring the overall progress of the
company at market place. Objectives can be two types like ling tern and short term in which
define better framework to effectively evaluate the performance level of the company and also
enhance overall productivity level at market place. In this goals and objectives of ALDI can be
understood by some points which are as follows:
 To enhance positive brand image at marketplace.
 To deliver quality products and services at affordable cost.
 To expand their operational activities at global level.
Core competencies:
This term is more specific in which company define their unique activities to attain
particular target in appropriate time period. It define special skills and ability which is totally
differ form its rivals. With the help of this company easily enhance their positive brand image
and also invite large number of customers. In context of ALDI, their quality products at
affordable piece is its core competencies which make them more successful at market place as
compare to its competitors.
1.2 Factors considered by Aldi while formulating their strategic plans
Strategic planning is one of the important process in which organization define their
business strategies to make an effective decision making process which is relate with appropriate
allocation of resources. Basically its provide better guidelines to manager at the time of
implementing the strategies in order to attain competitive advantage (Butler, 2012). In this
context, there are some major factors which considered by ALDI at the time of formulating
strategic planning and which are as follows:
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 The industry: It is important for ALDI to evaluate the overall industry to formulate
strategic planning. It include market size, potential growth rate, future threats,
profitability and new market entrance. All these are considered in strategic planning
process of ALDI. These elements are directly affect the entire activities of the company. Competition: Assessing the competitors position is important for ALDI at the time of
formulating strategic planning (Dandira, 2011). With the help of this selected company
easily capture larger market share and also take strong place in market place as compare
to its rivals. Strength and weakness: It is important for ALDI to carry out SWOT analysis to
determine its strength, weakness, opportunities and threats because it directly affect the
decision making process of the company. Along with this it is essential for company to
determine their main strength to reduce weakness in order to improve their performance
level.
 Resources: This factors is more important for ALDI to have enough resources to
effectively implement the strategies. If they have less resources than they fails in
attaining better results. In this ALDI required adequate number of resources as well as
equipments maintain better performance level at market place. It include human resource,
funds and many more which used by manager of the company at the time of formulating
strategic planning process.
All these factors are more effective which include by ALDI to formulating effective
strategic plan in order to attain positive outcomes.
1.3 Evaluating effectiveness of techniques used in strategic planning
Various techniques are there which is used by ALDI to prepare strategic planning which
helps in attaining better success at market place. In this company use BCG growth share matrix
to evaluate the effectiveness of the company.
BCG growth share matrix: It is one of the effective which divided in four categories which
faced by ALDI at market place: Stars: This factor show high market share with high company growth. In this company
required huge financial funds to take better decision in order to maintain their growth
rate.
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 Cash cows: It shows high market share but less market growth rate (Elhamma and
Zhang, 2013). In which ALDI face less market growth due to high market share in which
company easily generate huge profitability level. Dogs: This factor shows low market share with less product growth of the company at
market. In this condition firm cuts down their unnecessary expenditures to maintain their
profitability level (Ferreira and et. al., 2011).
 Question marks: It define low market share with high market growth rate. In this ALDI
reduce profitability level due to less market share.
2.1 An organizational audit for ALDI
Organizational audit is important for business to determine the strength, weaknesses,
opportunities and threats which helps in defining the actual performance of the company at
market place. In this context SWOT analysis of ALDI as follows:
Strength: One of the biggest strength of ADLI is its positive brand image by which
number of customers get attracted and consume its goods and services. The main example of this
is that they continue expand their business and high efficient stores at various level. Due to this,
it increase customers footfall in new market which may leads in attaining better success. They
offer quality services at affordable price (Ferreira and et. al., 2011). For example, ALDI serve
their luxury products to their customers at cheapest post which may helps them in attaining
customers higher satisfaction. Another strength of ALDI is that they operate approx 8000 stores
in various country in which they enhance their profitability level.
Weaknesses: The main weakness of ALDI is its less geographic diversification which
may reduce the positive brand image at market place. Along with this low staff level is also a
weakness in which they fails in handling customer. It largely affect on brand image of the
company. In addition of this, the interior ambience of store is not much attractive which may
negatively impact on overall sale of the company. They define high transport cost. Due to this
profitability of the company get reduced.
Opportunities: ALDI wants to expand their business at global level due to this company
operate their various stores for delivering quality services to its customers (Butler, 2012). Along
with this, they also use online platform to sell their products like social media, advertisement and
many more to enhance their growth level by delivering better services to their customers. ALDI
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invest more financial funds to promotion activities to take string place at market place (Ferreira
and et. al., 2011).
Threats: One of the main threat of ALDI is change in customers taste and preferences so
that some time company fails in understanding their needs towards the products and services. In
addition of this high competitive market is also an threat which may reduce their profitability
level because customers easily switch another company for purchasing quality products and
services (Dandira, 2011).
2.2 An environmental audit for ALDI
Conducting environmental audit is more important for every organization which helps in
determining the impact on operational activities. In this ALDI use Porter five forces model to
conduct environmental audit which are as follows: Threats of new Entrants: It is major treat for organization which operate their business at
globally (Galpin and Lee Whittington, 2012). In this company have to use effective
strategies which so not get affected because if new organization enter into market than
company reduce their market share. In context of ALDI, they have good brand image at
UK market so that they do not get affected form another firm. But in case of merger and
acquisition it directly affect the working activities of the business. Threats of substitute products: It is more easy to switch one product to another due to
change the customers demand (García‐Rodríguez and et. al., 2013). In this, ALDI provide
varieties of products and services to its customers in order to retain them for long time
period. By this company easily generate more revenue in appropriate way. The bargaining power of suppliers: It define potential suppliers who sell their products
at high price which leads in reducing the profitability level. Aldi has number of suppliers
because they offer their quality services at affordable price. The bargaining power of buyer: In this factors the purchasing power become less
because customers buy the products in bulk. If different companies offer varieties of
products than bargaining power or buyer is increases in which company have to
formulate their specific strategies as per customers tastes and preferences.
 Rivalry among Existing firms: Under this factor ALDI face high competition so that
they have to implement an effective strategies within their process to maintain their
image at market place and also attain positive results.
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2.3 Significance of stakeholder analysis for ALDI
Stakeholders are the important for every organization to attain better growth level at
market place. It includes suppliers, creditors, shareholders, employees and government. Basically
it is an effective technique which h helps in implementing new strategies in most effective
manner. With the help of this ALDI easily enhance their productivity level. There are some steps
which considered in carry out stakeholder analysis are as follows:
Illustration 1: Stockholder's grid
 Step one: Under this stakeholders include those people who are include In business
organization and its activities which directly affect the overall performance of the
company (Goll and Rasheed, 2011). Step two: In this step of stakeholders, it define their interest and power which leads in
offering quality services as pet their needs. In this stakeholders with low power and high
interest helps in improving the overall performance of the ALDI at market place.
 Step three: It is last step in which ALDI require better understanding towards the
individual which helps in attaining feedbacks form employees. With the help of this
ALDI easily execute their operational activities (Granados and Gupta, 2013).
Along with this, it is also important for manager to provide better support to their workers
which may leads in attaining better results in most effective manner. Apart from this, it is also
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important for manager to determine all the factors which directly impact on business plan in
order to attain positive outcomes. By this, firm attain positive growth at market place.
2.4 New strategy for ALDI
Strategy is one of the important process for every organization because it provide better
framework in which company complete their task in order to attain positive end results. With the
help of this company easily formulate their business which considered mission, vision, goals and
objectives. For attain better success company use more effective strategic plan which aid in
attaining positive results. In this company provide quality products to its customers at affordable
price to get higher satisfaction level. In context of ALDI, they have to accomplished their
objectives to generate large amount of profitability. By this they easily increase their market
share by delivering quality services to its target customers. Along with this, company have to
formulate a revise strategy to complete their task for achieving desirable results in appropriate
time frame. Hence, company prepare an effective scheme to attain their target and also rise
profitability level. With the help of this management of ALDI easily earn more profits which
directly contribute in overall success of the company at market place. At present working pattern
as well as style is good in which they easily capture market share so that there is no need to
change their activities.
Apart from this, ALDI use Ansoff matrix which helps in improving the performance level
of the company at market place. With the help of this, fill easily attain higher success by
delivering quality services in market place as per customers requirements. In this they develop
new products in new market to attain better results at market place. Basically it include various
strategies such as market enhancement, market penetration, product development and
diversification. By this company easily capture larger market share form its rival and accomplish
their competitive place.
TASK 2
3.1 Analysis the appropriateness of suitable strategy for ALDI in relation to substantive growth,
limited growth or retrenchment
It is important for company to select best strategy to attain end goals and objectives in
appropriate manner. If company choose effective strategies than they easily improve their
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performance level and also take strong place at market place. In this there are some major
strategies which is used by ALDI for attaining positive outcomes which are as follows:
Substantive growth strategy: It is important and appropriate strategy in which manager of the
company prepare a plan for expand their operational activities in another areas (Hall and
Wagner, 2012). In this they do expansion either vertically or horizontally in order to attain
positive outcomes in appropriate manner. Related diversification: In this when organization do diversification in same product line
which is related with existing products of the organization is called as related
diversification. Unrelated diversification: In this, company define diversification which is totally
different for existing business activities (Helms and Whitesell, 2013). Horizontal diversification: In this different business include in same business which
deals with different industry is called as horizontal diversification.
 Vertical diversification: In this number of business enterprise include in various
strategies and level of production process in same field industry is called vertical
diversification.
Limited growth strategy: It is effective strategy in which various type of tactics considered by
manager of the company to attain final goals and objectives. Which are as follows: Market penetration: It include penetrating with the current market in which company use
certain strategies which helps in increasing the market share and also improve the
performance level of existing products. Market development: In this activities firm provide their current products in various
market place in order to achieve number of profits and also develop the market growth.
 Product development: Under this company develop their offer as well as develop their
existing products as per market demand. With the help of this company generate higher
revenue and at the same time their also attract large number of customers.
Retrenchment: Turnaround: It is important strategy which used by company to convert manufacturing
of the company in more profitability. Basically it helps in resolving the financial issue of
the company by improving the overall performance of the financial resources.
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 Liquidation: It is also an important strategy which adopt by the company at the time of
performing their last stage of life cycle. In this company get down and sell their valuable
assets to cover their financial terms (Kalyani and Sahoo, 2011).
 Divestment: In this, whole business selling out top the another organization.
3.2 Selection of strategy
Market entry and growth strategy is most important which helps in increasing the overall
growth of the company at market place. In this context several approaches are determined which
is related with market growth and its development (Sprengel and Busch, 2011). With the help of
this company easily attain competitive advantage form its rivals. In this selected company select
one strategy to retain in market for long time period. Along with this, ALDI wants to expand
their business activities at global level. With the help of this strategy company attain competitive
advantage in market place and also enhance their productivity level.
In this ALDI use substantive growth strategy by which they easily set their business in
another countries through some small company. With the help of this they attain long term
benefits and also rise their profitability level at market place. Basically this strategy is more
effective for company to make quality products and services as per set rules of the government.
It directly contribute in attaining higher success by capturing larger market share and at the same
they also maintain their brand image. By using this, ALDI offer quality services to kits target
customers in order to attain their higher satisfaction which leads in increasing the customers base
within the organization.
TASK 3
4.1 Roles and responsibilities of personnel who involves in strategy implementation
Board of directors are important part of organisation in which they manage as well as
allocate all activities of workers in order to attain set target in the most appropriate way. They
help in understanding about market situation for formulating an effective strategy. By this
company attain long term benefits and also enhance performance level at market place. In
context of ALDI, manager also responsible for effectively organising and managing business
activities in systematic manner in order to attain set goals and objectives which may aid in
getting competitive advantage. The main role of manager is to make people more productive
which aid in enhancing profitability level at competitive market place (Stiakakis and Georgiadis,
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2011). In this, there are some essential roles and responsibilities of Board of directors and
manager at workplace which are as follows:
 The main role as well as responsibility of Board of directors is to hire the best people for
performing organisational activities. By this, they easily analyse the market situation and
also gather proper information about the external environment.
 Another major role of Board of directors is to execute all business activities and manage
performance level of employees at workplace which leads in attaining set target in an
appropriate time period (Torrent-Sellens, 2015)
 Team development is also an important role of Board of directors in ALDI in which they
are responsible for effectively developing the team performance and making them more
productive.
 Board of directors is also responsible for providing better direction to staff members so
that they can easily execute their activities in order to attain favourable results.
 ALDI Board of directors is also responsible for motivating their team members in which
they can easily attain positive outcomes and gain competitive advantage at market place.
Hence, certain roles and responsibilities are there in business organisation which is
required to be performed by the personnel to attain overall target in specific time period. With
the help of this ALDI easily maintain their positive brand image at marketplace.
4.2 The resources requirement for implementing strategy
Resources are important for strategy implementation which helps in attaining positive
results in appropriate manner. Without any source, company cannot accomplish their goals in an
effective manner. In context of ALDI, it is a grocery store in which they required more funds,
technology and labour to execute their operational activities. With the help of this, they can
easily improve their product quality and attain their target in specific time scale. In this context,
there are various resources which are important for implementing the strategies within the
organisation which are as follows: Human resource: Workers and labours are the important elements for ALDI in which
they execute their task and attain set target in systematic manner. Without human
resource, company fails in improving their performance at market. In context of ALDI,
they require large number of staff members through which they can communicate with
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customers and provide them quality services as per their requirement. It helps in
increasing the satisfaction level which directly contributes in rising the profitability level. Financial resource: Money is core requirement of business organisation which helps in
executing all activities in an appropriate way and achieving their target (Zott, Amit and
Massa, 2011). Hence, proper financial funds in essentials for ALDI to attain their goals in
an effective manner.
 Technological resource: Machinery, equipment and other technological resource are
more important for implementing strategies which leads in attaining positive outcomes
and also enhance their productivity level (Galpin and Lee Whittington, 2012). With the
help of this, company can easily expand their operational activities in other location
which aid in achieving competitive advantage.
All these resources are helpful in implementing strategies which helps in expanding the
business in various countries. By these resources, company easily take place in new market and
also attract large number of customers.
4.3 The use of SMART target and its contribution in strategic objectives
Concept of SMART target is more effective which is used by manager of ALDI in which
they easily implement their strategies and attain positive results. It stated as specific, measurable,
attainable, realistic and time bound. With the help of this company ensure maximum utilisation
of available resources to enhance customers base by providing better services. In this context,
contribution of SMART objectives in implementation of strategies define by following points: Specific: It is most important for organization that all goals and objectives should be
specific which provide better direction to manager in which they easily take best decision
and also attain specific results in appropriate manner. Measurable: In this, goals and objectives of the company must be measurable in which it
provide various opportunities to manager of the company to assess the effectiveness of
the strategies. For example, measurable goal of ALDI is that they wants to enhance its
overall sale by 6% in upcoming 6 months. Acceptable: It is also important that all the goals and target must be acceptable by entire
stakeholder which leads in increasing the productivity level of the company at market and
also enhance their positive brand image.
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 Relevant: It stated those type of targets which add overall business activities which
directly contribute in overall success of the company at market place.
 Time bound: It is important for manager to set their objectives in specific time bound
(Ferreira and et. al., 2011). With the help of this company complete their task which
leads in attaining various advantage to improve their performance level. For example,
ALDI wants to increase their market share by 4% in coming one year.
All these objectives define various opportunities in which manager assess the
effectiveness of overall goals and also ensure about completion of business objectives in specific
time frame. Along with this concept of SMART objectives helps in enhancing the effectiveness
of implementation of strategies within the organizational activities.
CONCLUSION
From the above mentioned report, it can be concluded that effective strategies are
important for every organisation to attain their target at stipulated time. With the help of this,
company can easily analyse environment factors in proper manner. In this context, ALDI uses
more effective strategy which helps in increasing the profitability level by satisfying their
customers demand. In this, all the schemes are implemented by top level management in which
manager assess market analysis for attaining set targets. Along with this, the manager has
important role and responsibilities within the organisation which helps in maximising their
profitability level. Moreover, SMART objectives also help in achieving organisational goals and
objectives in specific time frame.
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REFERENCES
Books and journals
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services and its implications for business strategy. Judgment and Decision Making. 6(2).
p.176.
Bucolo, S. and Matthews, J. H., 2011. A conceptual model to link deep customer insights to both
growth opportunities and organisational strategy in SME’s as part of a design led
transformation journey. Design management toward a new Era of innovation.
Butler, D., 2012. Business development: a guide to small business strategy. Routledge.
Dandira, M., 2011. Involvement of implementers: missing element in strategy formulation.
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Elhamma, A. and Zhang, Y.I., 2013. The relationship between activity based costing, business
strategy and performance in Moroccan enterprises. Accounting and Management
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Ferreira and et. al., 2011. John Dunning’s influence in international business/strategy research: a
bibliometric study in the strategic management journal. Journal of Strategic
Management Education. 7(2). pp.1-24.
Galpin, T. and Lee Whittington, J., 2012. Sustainability leadership: From strategy to results.
Journal of Business Strategy. 33(4). pp.40-48.
García‐Rodríguez and et. al., 2013. Corporate social responsibility of oil companies in
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Goll, I. and Rasheed, A. A., 2011. The effects of 9/11/2001 on business strategy variability in the
US air carrier industry. Management Decision. 49(6). pp.948-961.
Granados, N. and Gupta, A., 2013. Transparency strategy: Competing with information in a
digital world. MIS quarterly.37(2).
Hall, J. and Wagner, M., 2012. Integrating sustainability into firms' processes: Performance
effects and the moderating role of business models and innovation. Business Strategy
and the Environment. 21(3). pp.183-196.
Helms, M. M. and Whitesell, M., 2013. Transitioning to the embedded librarian model and
improving the senior capstone business strategy course. The Journal of Academic
Librarianship. 39(5). pp.401-413.
Kalyani, M. and Sahoo, M. P., 2011. Human resource strategy: A tool of managing change for
organizational excellence. International Journal of Business and Management. 6(8).
p.280.
Sprengel, D.C. and Busch, T., 2011. Stakeholder engagement and environmental strategy–the
case of climate change. Business Strategy and the Environment. 20(6). pp.351-364.
Stiakakis, E. and Georgiadis, C.K., 2011. Drivers of a tourism e-business strategy: the impact of
information and communication technologies. Operational Research. 11(2). pp.149-
169.
Torrent-Sellens, J., 2015. Knowledge products and network externalities: implications for the
business strategy. Journal of the Knowledge Economy. 6(1) pp.138-156.
Zott, C., Amit, R. and Massa, L., 2011. The business model: recent developments and future
research. Journal of management. 37(4). pp.1019-1042.
Online
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Business Strategy. 2017. [Online]. Available Through:
<http://finsburyfoods.co.uk/who-we-are/business-strategy/> .
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