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Internal Audit of ALDI : Assignment

   

Added on  2020-07-22

16 Pages5541 Words125 Views
Business Strategy

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Mission, Vision and goals influencing company strategic plan............................................11.2 Factors affecting ALDI strategic plan...................................................................................21.3 Useful of techniques used in strategic planning....................................................................32.1 Organisation audit an current strategic position of company................................................52.2 Environmental Audit for ALDI.............................................................................................62.3 Significance of stakeholders in formulating new strategy....................................................82.4 New strategic plan for ALDI.................................................................................................9TASK 2..........................................................................................................................................103.1 Appropriateness of developed strategy for ALDI...............................................................103.2 Justification to the strategy..................................................................................................10TASK 4..........................................................................................................................................114.1 Role and responsibility of personal in implementing developed strategy..........................114.2 Resources required for implementing strategy in practice..................................................114.3 Develop SMART target in order to attain goals of strategies.............................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONStrategic planning are the action plan developed and designed by an organisation in orderto react to changing external environment and internal requirement of firm effectively. Businessstrategies should be evaluated on various ground in order to analyse its appropriateness withrespect to the the objectives of firm. This is then followed by implementation of new strategy incurrent market scenario which will helpful in enhancing good relationship with otherstakeholders and achieving higher profitability in firm (Astrachan, 2010). ALDI is an retailingcompany established in 1946. this is an global discount market and growing at faster rate inpresent market scenario. The company is focussing on development of expansion and growthstrategies in order to expand business in different countries. Company is gone through hugeincrease in sales figure to about 19.7% within 12 weeks through development of an effectiveprofitable strategic plans for growth of ALDI.In this particular report organisation internal audit is carries out in order to identifycompetitiveness of firm with respect to other competitors. This also discuss about smart targetsthat are to be developed by higher management of ALDI to achieve goals on new strategydeveloped in workplace. This assignment also study about the various micro and macroenvironmental factors which influence development and implementation of strategy to largeextent.TASK 11.1 Mission, Vision and goals influencing company strategic plan.The strategic plan of an company is having great significance in attaining theorganisation goals effectively through reducing wastes and contributing in higher profitability.ALDI should developed its strategic plans working in compliance with the mission and vision offirm (Auzair, 2011). This will helps in building good brand image in market as the action ofbusiness firm will reflects their vision and competitiveness.Mission: This is the defining standards and activities which will helps in achieving goalseffectively through complying with the vision of firm. The mission describes the target of ALDIwhich are followed by firm. This is the reflection of the reason of establishment of the companyin marketplace.1

Vision: This defined the future growth and the position at which the business entity islooking at to attain that. ALDI vision s are to provide good quality products with effectivecustomers 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 incurrent market place. This defines the growth and expansion plan of LADI where theorganisation want to reach (Burlton, 2010). Like for example the according to the currentposition of organisation the firm is growing with higher are attaining 19.7% more sales figures in12 weeks.Objective: This is the short term target which are to be achieved regularly within definedtime period by company in order to attain long term goals of firm efficiently. The objectives frothe strategic development of ALDI can be appraising performance of employee, increasing salesand expanding business through establishment of new stores in different region of country.Core competencies: These are the competitive advantage and internal capabilities of firmwhich is helpful in competing in the external market environment confidently and able todevelop 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 throughefficient analysis and appropriate decision making process by the higher management of firm.These factors which largely affects the development and implementation of strategic plan inpractice are defined as follows:Communication: Communicating the plan developed among the workforce will helps inincreasing the effectiveness of the strategic implementation in practice (Campbell, Edgar andStonehouse, 2011). As this will helps in delegating the responsibilities along team members andworkforce of ALDI effectively.Workforce Engagement: This aspects of an working of employee ion the workingenvironment of company largely affects the success rate of strategies developed by organisationto achieve company targets. Employee engagement will results in higher efficiency and assistantwork of employee within the premises of business entity and contribute in success ALDI.Response of Authority: The responsiveness and seriousness of higher authority towardsdeveloping new strategies in working environment of company. The top level management2

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