Business Strategy and its Importance

This assignment delves into the world of business strategy, covering essential topics such as resource-based theory, evolutionary theory, and strategic management. It provides an overview of various business strategies, including social CRM, business strategy at the base of the pyramid, and taxes and business strategy. The assignment also includes a list of references to relevant academic articles and books, as well as online resources for further learning. By analyzing the relationship between business strategy and performance, this assignment aims to provide insights into the importance of strategic clarity and the moderating effect of business strategy on operations strategy.

Business Strategy

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Mission, Vision and goals influencing company strategic plan............................................1
1.2 Factors affecting ALDI strategic plan...................................................................................2
1.3 Useful of techniques used in strategic planning....................................................................3
2.1 Organisation audit an current strategic position of company................................................5
2.2 Environmental Audit for ALDI.............................................................................................6
2.3 Significance of stakeholders in formulating new strategy....................................................8
2.4 New strategic plan for ALDI.................................................................................................9
TASK 2..........................................................................................................................................10
3.1 Appropriateness of developed strategy for ALDI...............................................................10
3.2 Justification to the strategy..................................................................................................10
TASK 4..........................................................................................................................................11
4.1 Role and responsibility of personal in implementing developed strategy..........................11
4.2 Resources required for implementing strategy in practice..................................................11
4.3 Develop SMART target in order to attain goals of strategies.............................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Strategic planning are the action plan developed and designed by an organisation in order
to react to changing external environment and internal requirement of firm effectively. Business
strategies should be evaluated on various ground in order to analyse its appropriateness with
respect to the the objectives of firm. This is then followed by implementation of new strategy in
current market scenario which will helpful in enhancing good relationship with other
stakeholders and achieving higher profitability in firm (Astrachan, 2010). ALDI is an retailing
company established in 1946. this is an global discount market and growing at faster rate in
present market scenario. The company is focussing on development of expansion and growth
strategies in order to expand business in different countries. Company is gone through huge
increase in sales figure to about 19.7% within 12 weeks through development of an effective
profitable strategic plans for growth of ALDI.
In this particular report organisation internal audit is carries out in order to identify
competitiveness of firm with respect to other competitors. This also discuss about smart targets
that are to be developed by higher management of ALDI to achieve goals on new strategy
developed in workplace. This assignment also study about the various micro and macro
environmental factors which influence development and implementation of strategy to large
extent.
TASK 1
1.1 Mission, Vision and goals influencing company strategic plan.
The strategic plan of an company is having great significance in attaining the
organisation goals effectively through reducing wastes and contributing in higher profitability.
ALDI should developed its strategic plans working in compliance with the mission and vision of
firm (Auzair, 2011). This will helps in building good brand image in market as the action of
business firm will reflects their vision and competitiveness.
Mission: This is the defining standards and activities which will helps in achieving goals
effectively through complying with the vision of firm. The mission describes the target of ALDI
which are followed by firm. This is the reflection of the reason of establishment of the company
in marketplace.
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Vision: This defined the future growth and the position at which the business entity is
looking at to attain that. ALDI vision s are to provide good quality products with effective
customers services along with making all available at very low prices.
Goals: This defined the exactly measure of an organisation what it is wanting to chive in
current market place. This defines the growth and expansion plan of LADI where the
organisation want to reach (Burlton, 2010). Like for example the according to the current
position of organisation the firm is growing with higher are attaining 19.7% more sales figures in
12 weeks.
Objective: This is the short term target which are to be achieved regularly within defined
time period by company in order to attain long term goals of firm efficiently. The objectives fro
the strategic development of ALDI can be appraising performance of employee, increasing sales
and expanding business through establishment of new stores in different region of country.
Core competencies: These are the competitive advantage and internal capabilities of firm
which is helpful in competing in the external market environment confidently and able to
develop continuous sales and profit in marketplace. The passionate and motivated workforce,
low process products, positive relationship with stakeholders are the core competencies of ALDI.
1.2 Factors affecting ALDI strategic plan.
ALDI strategic plan is influenced by many factors that have to be controlled through
efficient analysis and appropriate decision making process by the higher management of firm.
These factors which largely affects the development and implementation of strategic plan in
practice are defined as follows:
Communication: Communicating the plan developed among the workforce will helps in
increasing the effectiveness of the strategic implementation in practice (Campbell, Edgar and
Stonehouse, 2011). As this will helps in delegating the responsibilities along team members and
workforce of ALDI effectively.
Workforce Engagement: This aspects of an working of employee ion the working
environment of company largely affects the success rate of strategies developed by organisation
to achieve company targets. Employee engagement will results in higher efficiency and assistant
work of employee within the premises of business entity and contribute in success ALDI.
Response of Authority: The responsiveness and seriousness of higher authority towards
developing new strategies in working environment of company. The top level management
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people shows their positive response towards the new initiative of company will enhance the
success rate of strategy to large extent.
Economical Factors: The various economical aspects of external market largely affects
the implementation of new expansion and growth strategies of firm. Like for an example the
taxation rate, inflation rate will largely influence the profitability of firm through implementing
new expansion strategies in other countries.
Future Direction of Competition: The direction of competition in market and increase in
competitiveness in marketplace largely affects the development of strategies in practice (Top 10
UK Retailers. 2016). So, the firm like ALDI should develop profitable strategic plan for
organisation profit through analysing the extent of competitiveness and competencies of other
competitors like Asda, Tesco, Sainsbury.
Demands of the Customers: Demand of particular brand product in marketplace also
helps in developing various new strategies of expansion and growth of company. Like in order to
fulfil demand of products in marketplace can be achieved through enhancing production or
developing new promotional strategies etc.
1.3 Useful of techniques used in strategic planning.
ALDI is developing various types of techniques in order to plan out effective strategies
for growth of firm. These techniques and approaches helps in defining various actions in order to
achieve the targets of expansion strategies. BCG matrix, Space matrix etc. are some of the
approaches which will be helpful in defining activities of firm. BCG matrix are approach
utilised by ALDI are defined below.
Star: This is the stage of higher market growth along with having higher capability of
achieving large number of market share. This is the star product among all other product line of
company and is most profitable manufacturing line of ALDI (Casadesus-Masanell and Ricart,
2010). So, the firm should make efficient techniques like market penetration, market
differentiation approaches to increase the profitability of firm in many folds.
Question mark: this is the initiation phase of any of the products of the company which
may be profitable or may face high losses. This stage of product line is having lower market
shares while having huge market growth. This stage of an business development should be
complied with effective marketing strategies to attract large numbers of customers base. This is
also known as problem child strategy of marketing growth of an company.
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Cash cow: This product line or the goods available in stores of ALDI is gaining higher
market share but showing lower market growth rate in the current marketing scenario. These
type of products are requiring higher amount of fund to maintain the growth of product line. So,
this type of firm should also be regulated through developing various strategies to make more
profit from these manufacturing lines.
Dog: These type of products are enable to capture large number of market shares and also
having lesser market growth (Chang and Chuang, 2011). These products requires less expenses
to maintain but are not profit earning for the firm. The company should stop the further
production of the specific product line in order to make an efficient decision fro the optimising
the investment fund in growth of ALDI.
While the other techniques of implementing an profitable strategic plan for organisation
growth is SPACE matrix which defines the direction of investment in the external environment
by calculating financial strength and internal capabilities of firm. This following approach used
in strategic planning is defined below.
Competitive advantage: This is the influencing factor of the techniques developed by the
higher management to deal with different situation in business environment (Cinquini and
Tenucci, 2010). This factor constitutes of internal capabilities like good quality product,
satisfactory customer services, employee engagement etc. which will increase the profitability
from plans developed in workplace.
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Source 1: Paul Simister, 2011

Financial strength: This is also an another aspects which affects the strategic planning of
ALDI is defined the strength of financial resources available in the company to invest further in
expansion actions of firm.
Industry attractiveness: This describes about the productivity, ability to fulfil demand of
customers in marketplace etc. which largely affects the implementation of strategy in practice.
Environmental stability: This factor determine different aspects of external environment
which is changing continuously and affects the strategic plan of ALDI. This constitutes of
different aspects like inflation rate, technological changes, external communication barriers,
power of new entrant which affects the appropriateness of new strategy developed in relation to
increase sales and profit of firm in current market positions (Dong-Hun, 2010).
Aggressive: This type of market position of firm is good for using the internal strength of
firm, optimality. This is followed by taking advantage over external opportunities to overcome
internal weaknesses of ALDI.
Conservative: This is the condition where the company should not take any type of
external risk and should work in the boundary of its competitiveness and its internal strength.
The company should work in promises of its competitive advantage and financial strengths to
increase the profitability of firm.
Competitive: This is the stage where the firm is dealing with the internal capabilities to
build higher competitive advantage among competitors and reducing influence of external
environmental threats and risk in workplace (Eccles and Krzus, 2010). This is working with the
internal capabilities of ALDI along with the industrial attractiveness in its competitors like
Tesco, Asda etc.
Defensive: This is the strategies which is developed in response to the environmental
instability and external competitiveness in marketplace. This focusses sin strengthening the
internal functionality and react confidently to the external risks.
2.1 Organisation audit an current strategic position of company.
It is necessary that higher management people should go for internal environmental
organisational audit in order to identify various loopholes and competitiveness of the company to
deal with various extremal opportunities available in market effectively. SWOT analysis of the
organisational internal surrounding helps in auditing the strength and weaknesses of ALDI which
will influence the strategies developed by firm is describes below.
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Strength: the strength of ALDI is the products at low price, company is having lower
cost incurred ion production which helps in making available goods to customers at cheap
process. Another strength of the firm is its large loyal customer base and large numbers of stores
expansed in the all over UK and also catering business in other countries (Hahn, Kolk and Winn,
2010).
Weaknesses: The company is capturing lower number of market shares which is an
weaknesses and restricts in between the expansion of the business. Other weakness of the firm is
product at lower process which affects the brand image of company to large extent.
Opportunities: The company can go for substantial growth and can follow dog
approaches for the non profitable product line of company. ALDI is having good growth and
business expanding opportunity through its higher competitiveness in marketplace.
Threat: The changing technology and economical environment can be an major threat for
the expansion of firm. ALDI is not an complete retailing stores but the shoppers are largely
demanding the complete shopping experience in marketplace which is an threat for growth of
organisation.
2.2 Environmental Audit for ALDI.
The external environment of an business firm constituent of micro and macro factors
which affects the functionality of firm to different extent. The micro aspects of external
surrounding of business are controllable to some extent while the macro factors contributes the
various aspects which are not under control of entity and firm have to develop various strategies
in order to react effectively through making precautions against changing macro environmental
factors.
Pestle analysis is an approach to the conventional audit which defines the macro aspects
of business surrounding which will influence strategic plans of ALDI (Elements Of Business
Plan. 2017). This analysis of various factors which affects internal competitiveness and strategic
implementations in marketplace are as follows:
Political: The political changes like Brexit i.e. Britain exit form UK is an influencing
factors which largely affects the functionality of ALDI. Other factors like wars and political
instability ion United Kingdom also largely influence the implementation of new expansion
strategy of firm in marketplace.
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Economical: The economical factors like duties in export and import, inflation rate,
interest rate all these aspect largely affects various strategies of expansion of an company. This
largely affects the implementation of new strategies because inflation rate, employment largely
affects growth, profit margin of establishment of new stores in market.
Sociological: The sociological factors and behaviour of communities largely influence
the growth of strategic planning. The changing behaviour and tastes in the choices of customers
largely affects the development of new strategies in practice (Haley, Haley and Tan, 2011).
Technology: Technological factors is changing with the globalisation and modernization
which largely influence the success of an strategic plan in practical, the strategies developed by
an firm should be up to date with the new technologies available in marketplace in order top
extract more profit from these development plan of ALDI.
Legal: The legal system of country also interferes in deciding various growth strategies
like contract law and company act defines various provision that may affects the internal
functionality of plan designed by ALDI.
Environmental: This largely influence the success rate of strategies which may affects
the natural environment and the preservation strategies of natural resources of the world.
Porter’s 5 Forces analysis helps in identifying various aspects of micro environmental
surrounding which largely affects the appropriateness of business strategies and its
implementation in working surrounding of firm. This respective analysis in accordance with
development of substantial growth strategy of ALDI is discussed below.
Bargaining power of supplier: This largely influence the profitability of firm as the
bargaining power of vendors and supplier of raw material of ALDI production largely affects the
cost incurred in production and ultimately affects the vision statement of organisation of
providing goods at affordable low prices.
Bargaining power of customer: This also affects the profit margin of the product as the
customer try to purchase products at lower prices than the price decided by ALDI firm which
will affects the profitability over single purchase (Business Strategy. 2017). So, company should
developed various strategies in order to deal with such a influencing micro surrounding factors.
Potential of new entrants: the potential of new entry in the sector is also increase the
competition in market and shares the target customers which will leaders to decrease in sales
figures of ALDI organisation.
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Competition in industry: The competition in existing market and the various strategies
and product line and pricing strategies of competitors largely influence the profitability of firm as
these competitors like Tesco, Asda are having capability to attract the consumers of ALDI
towards their businesses which will negatively affects profitability of organisation. So, the firm
should comply with this factors while developing any expansion plan.
Threat of substitutes: The substitutes products also change the preferences of customers
and have capability to divert the direction of their purchases (Business Strategy. 2015). This
largely affects the sales of firm to large extent and the strategic implementation in practical
environment also.
2.3 Significance of stakeholders in formulating new strategy.
The stakeholders plays very important role in development of growth strategies of
company. In order to work in compliance with the legislation introduced in UK country, the
Company act largely affects the profitability of expansion strategies. Employee, shareholders,
government media are the stakeholders of company which influence the decision making process
of the higher management people. An representative of shareholders participate in meeting of
board of directors.
Mendelows’ stakeholders matrix defines the role and responsibility of an individual
and behaviour shown by the person while making any development strategy for the firm. This
matrix defined the power and interest of various influencing members to the strategic plan of
ALDI. This is defined as follows:
Keep satisfied: These are the person who always keep satisfy through the decision of
company and are working in latent phase of strategic planning. The person is having authority to
take action but the individual is less interested and respective toward the new strategic
development.
Manage closely: These are the person who are promoters of new initiation by ALDI and
shows high amount of interest and having powers to controls the things and manage the action of
company. So, these are the individual who manges strategies closely (Higgins, Omer and
Phillips, 2015).
Monitor: These are the Apathetic person who monitor and examine the processing of
strategies and decisions in practice and make corrective action in response to this. The person is
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not lower interest in activities of business and also having lower authority to make important
decision for entity.
Keep informed: These are the person who is having large interest in the functionality of
any growth strategies and work passionately for the success of strategy plan but is having lower
power as compred to others. These are the defenders top the decision making process of ALDI.
2.4 New strategic plan for ALDI.
The new strategic plan of an organisation should be developed after the auditing internal
compatibilities and external market scenario of ALDI brand. This will helpful in developing
efficient growth and expansion strategies for company (Hsieh and Chen, 2011). The Ansoff
matrix largely determine the various growth opportunities available to an company which can be
implemented in practical market to increase profitability of firm which is defined as follows:
Market penetration: This is the strategy which helps in expanding the business with
helps if existing production line of ALDI in existing market to attract more and more customers
through different promotional plans.
Product development: This is the strategy which involves development of new product or
making availability of same products with variations like in packaging, flavours etc. to target
different market segments.
Market development: This is expansion strategy of ALDI by targeting and entering in
new market to increase sale of firm in many folds.
Diversification: This is the plan of ALDI which involved introduction of new product
line in order to target new market in the country. This follows production of diversified product
targeting new market segment.
Porter generic strategy helps in development various strategic plan in order to gain
competitive advantage in marketplace by ALDI which is defined as follows:
Cost Leadership: This is the approach in order to attain leadership in cost of product by
developing cost ng strategies in manufacturing buy ALDI (Liedtka, 2010).
Cost Focus: This is the strategy in order to focus on the cost of products of company.
This follows a specific pricing strategies in order to attract different class of market.
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Differentiation: This is the strategy of ALDI which helps in differentiating the product
line according to changing choices of customers to expand the business through product
development plans.
Differentiation Focus: This strategic planing of company helps in focusing in the
differentiated product fro the niche market top fulfil needs of specialised group of customers.
TASK 2
3.1 Appropriateness of developed strategy for ALDI.
The strategies developed by company should be evaluating on different grounds which
will be helpful in attaining higher success of the strategic plan in current market scenario. The
different strategies can be develop in order to expands and grow the firm (Martin and Rice,
2010).
Substantive growth: This strategies van be helpful in increasing the shapes of firm
through adopting various approaches to expand business in different countries. This follows
entering the new countries with helps of developing various strategies of expanding by ALDI
like acquisition and mergers. This involves two approaches to follow up the plan developed by
higher authority of firm. First is horizontal mergers which involves acquiring the business shares
of an other organisation who are dealing with the same market segment. This helps in expanding
business through increasing product line of ALDI. While the other technique is vertical merger
and acquisition which acquires the after and before working firm to the manufacturing function
of ALDI. This will bring unity in operations and also brings quality production and leads to
higher sales of firm in many folds.
3.2 Justification to the strategy.
This is justified that substantial growth strategy of LADI will profitable decision for the
firm as this will helps in catering the business in different counties which will leads to achieving
higher sales through targeting large numbers of customers (Meskendahl, 2010). ALDI is having
about 550 stores located in UK. Instead of an long development history the company is enable to
capture large number of shares in market. So this respective strategy of merger and acquisition
will be helpful in substantial growth of company.
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TASK 4
4.1 Role and responsibility of personal in implementing developed strategy.
The various stakeholders of company largely contribute in effective implementation
strategy in the practical market. The various individual playing significant role in decision
making process of ALDI and development of appropriate and profitable strategy is defined
below.
Employees: Employee describes various issues and problems faced by the them while
working in company environment (Montgomery, 2011). This will helps in providing good
healthy motivational working surrounding in business which will increase the success of
strategic plan in practice.
Managers: These are the person who directs the employee through defining various
performance standards of team members and employee win workplace which will leads to
achieving objectives of strategic plan within defined time period.
Top Management: While theses are the policy market and decision maker of the firm.
They defines the strategies and the the targets that are to be achieved through implementing new
development strategy in practice.
4.2 Resources required for implementing strategy in practice.
The internal resources of ALDI which largely affects the strategic implementation in
workplace are as follows:
Raw material: The raw material available in the company premises largely affects the
manufacturing process of firm and implementation of new strategies if expansion.
Human resource: The employee of the ALDI should be highly motivated and responsive
towards their duties and responsibilities in attaining the gaols of developed growth strategies in
workplace.
Technological resources: The technology installed in the working environment of firm
should be up to date with the current technologies available in order to enhance the efficiency of
wring in internal surrounding and will leads to achievement of goals fat faster rate (Nordqvist
and Melin, 2010).
Financial resources: The company should have significant amount of functional funding
resources in order to expand the business through development of new strategic plan.
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4.3 Develop SMART target in order to attain goals of strategies.
The company should follow the following guidelines while developing targets and goals
for the strategies designed by the firm (Parnell, 2010). The Smart target which are developed to
attain objectives of strategies expansion plan effectively are as follows:
S- Specific targets: The targets should be specific like the ALDI company is wanting to
chive the increase in sales figure.
M- Measurable targets: The targets defined in strategic plan should be measurable in
quantity. ALDI is planing to expand business through establishment of more 200 stores in UK
market.
A- Achievable targets: This follows the targets of an plan should be achievable in nature
and possible to achieve by the growth of firm (Oltra and Luisa Flor, 2010).
R- Realistic targets: The targets developed by higher authority of ALDI in strategic plan
should be realistic and should be accomplished appropriately. The targets should not be
imaginary.
T- Time bound approach: The strategies pan developed by firm should be time bound it
refers to that the target that are to be achieved by ALDI should be defined with the specified
limited time period.
CONCLUSION
From the above report it can be concluded that, the strategic plan of an business firm
largely affects the growth and development of firm. In this present report it can be concluded that
ALDI is following substantial growth strategy for expansion of business and catering its business
in different countries through following various horizontal and vertical mergers and acquisitions
techniques.
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