Business Strategy of Sainsburry - Report
Added on 2020-01-07
12 Pages3418 Words217 Views
BUSINESSSTRATEGY
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................31.1 Describe strategic concepts and terminology .......................................................................31.2 What are the issues involved strategic planning .................................................................41.3 Different planning techniques ..............................................................................................4TASK 2 ...........................................................................................................................................52.1 Carry out the organisational audit ........................................................................................52.2 External and environmental audit of business organisation .................................................52.3 Significance of stakeholder analysis.....................................................................................6TASK 3 ...........................................................................................................................................63.1 Alternative strategies relating to substantive growth............................................................63.2 Future strategy for the organization.....................................................................................6TASK 4 ...........................................................................................................................................74.1 Roles and responsibilities for strategy implementation.......................................................74.2 Resource requirements to implement a new strategy ..........................................................74.3 Targets and timescales for achievement of goals in strategic implementation.....................8CONCLUSION................................................................................................................................8REFERENCES ...............................................................................................................................9
INTRODUCTION Business strategic planning is essential for every business organisation because it helps inproviding directions to managers. It is also responsible for future growth and development ofstrategic management is a tool that is useful in day to day operations and business functions.Managers can analyse the internal and external environment with the helps of organisationalaudit (Acquaah, 2011). Sainsburry is the chosen organisation in this present report; which is oneof the largest seller of retail products and services. Organisational audit is the evaluation ofworking activities and performance of employees in order to accomplishing goals and objectivesof company. Whereas strategic implementation and formulations helps in order to establishesstrategic plan. TASK 1 1.1 Describe strategic concepts and terminology Strategic planning is helpful for every business organisation, it refers as planning tool thatmotivates employees to increase their performance level. In Sainsbury, it provides strength to themanagers so as they can long term business decisions and measure the level of productivity.There are some concepts and terminology of strategic planning that are as follow: - Vision – A vision is the statement that concerns about future growth and success. For anbusiness organisation, vision seeks with where it wants to operate, what it it wants toachieve and what it wants to be in future. It is a framework and an outline for everybusiness organisation. The main vision of Sainsburry is to expand market area byproviding quality products and services to customers. Mission – It concern with basic aim of every business organisation. Mission describeswhere it is and where it wants to go, in consists of business organisation (Auzair, 2011).It helps in to understand the managers about the existing position of employees in capitalmarket. For example- the prime vision of Sainsburry is to be a world largest retailer ofgrocery products and services. Objectives and goals- Goals and objectives both are different from each other. Forexample- in Sainsburry, objectives are helpful in order to measure the performance ofthe company. It is an initial step to attain growth and success. Whereas goals are the
needs ans wants of business owners, it is a particular target or an end. It is conceptualplanning and destination for business organisations. Core competencies – There are given 5 core competencies of Sainsburry, such are asfollow: - sourcing with integrity, a great place to work, respect to environment, making apositive difference towards community, the best for food and health. 1.2 What are the issues involved strategic planning There are so many issues and challenges faced by business organisation in strategicplanning. Because there are some factors that affect the internal as well as external enthronementof Sainsbury. There are mentioned below those issues and challenges that are involved ionstrategic planning, such are as follow: -Lack of Leadership – leadership plays an very important in growth and success of everybusiness organisation. But in business organisation managers and leaders are not awareabout there roles and responsibilities so as they are not able to give proper training totheir employees (Hoejmose, Brammer and Millington, 2013). So as organisation is notcapable to achieve its goals and responsibilities. Problem solving and risk management – It is a major challenge for every businessorganisation to find out the actual problems, identifying and assessing factors andmitigating risk. It is very difficult for managers to forecast risk and uncertainties becausethey are natural. For that managers of Sainsbury, have to develop their strategic tool inorder to compete with these issues and problems. 1.3 Different planning techniques Strategic planning tools and techniques are helpful in order to implement and formulationof strategic management. It helps in taking long term decisions and organisational future growthso as it can easily achieve goals and objectives. Along with this, BCG matrix is the one of theefficient tool of planning, it helps in providing growth and heights of success to Sainsbury. BCG matrix refers as Boston Consulting groups. In Sainsburry, the matrix is helpful inresource allocation and it is an analytical tool that helps in strategic management, portfolioanalysis, brand marketing and product management. It can be used by the managers ofSainsburry, as long term strategic planning in order to consider growth opportunities. BCGmatrix, the portfolio of the products is helpful form manager where they invest there money and
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