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Business Strategy Outline | Assignment

   

Added on  2021-02-16

14 Pages4393 Words32 Views
Business Strategy

INTRODUCTIONBusiness strategy refers to the company's working plan to attain its visual modality,mission, prioritizing verifiable, competitive with success and optimizing fiscal execution with itsbusiness model. It can be a strategy or plan which is developed by the management departmentof the company to to achieve the desired ends and aims (Akter and et. al., 2016). This documentis related to John Lewis which operate its business worldwide and offers various products suchas clothing, watches & Jewellery, giftware, cosmetics, housewares, home appliances, financialservices, food direct services and others. This firm was founded in 1929 by John Spedan Lewisand headquartered in Oxford Street, London. This document will obdurate about the impact and

determinant of macro environment on an administration and investigating of the innerenvironment and susceptibility. Further will be defined about Porter's five force model andtheories or conception to assist with the apprehension and interpretation of strategical directionsavailable to a company.TASK 1P1. Impact and influence of the macro environment on an organisation and its strategiesMicro environment refer to the leading outside and unmanageable components that affectand determinant an organisation's decision making or create impact on its performance andstrategies. To analyse this impact and affect, the manager of John Lewis can use PESTELanalysis. It is a framework or methods which can be utilized to determine the macro environmentof John Lewis. PESTEL analysis of this organisation is as following:Political- This component consider political policy and stability such as mercantilism,financial, taxation and others. And these political factor affect the decision making or strategy ofthe company. For example, authorities tax argumentation can drop-off or change the net profitamount on merchandise and services that are manufacture by the organisation. This fluctuation inpolicies affect the decision making of the company. If the corporation tax increases 30% from20%, John Lewis pay more taxes which will affect the profit of the company in negative manner.Economical- It consider interest rates, occupation or unemployment rates, rawsubstantial cost, domestic transaction revenue enhancement and others. For example, In UK, thewhole economic system is lining recession and very erogenous to modification in interest ratesand it affecting the business concern and decision-making of the organization (Bromiley andRau, 2014). If the government make change in interest rate, the management department of JohnLewis also design its policies according to them. If the government decrease the percentage ofinterest rate then it help in improving the business of John Lewis and its sales also. Social- This factor concentrate on the ethical situation and include change in customersneeds & wants, family unit statistic, education level, lifestyle, ethnic tendency, knowledgemodification and others (Chen and Jermias, 2014). For example, now these days, there arevarious changes are occurred and generated in the tastes & preferences of customers needs due tochange in life style so John Lewis produce branded and trendy clothes according to the demands

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