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Pharmaceutical Business Strategy

   

Added on  2020-01-28

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BUSINESSSTRATEGY
Pharmaceutical Business Strategy_1

TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................11.1 Assess the business mission, vision, goals, objectives and Competitors...............................11.2 Factors considered while generating the Strategic plan.........................................................2TASK 2............................................................................................................................................32.1 Determining current strategic positioning of an organization through organizational audit.32.2 Generating an environmental audit of M&S by PESTLE analysis :.....................................52.3 Significance of the Stakeholders while formulating a new business strategy ..............52.4 Presenting a Strategy as per the Organizational Audit and Stakeholders Analysis .............6TASK 3............................................................................................................................................63.1 Generating alternative strategies ...........................................................................................63.2 Analysis the Alternative Strategies and Justify a new Strategy.............................................6TASK 4............................................................................................................................................74.1 Role and responsibility of personnel in implementation of strategy.....................................74.2 Resources required for implementation of strategy...............................................................94.3 Contribution of SMART targets in achievement of strategy implementation.......................9CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTION In business, the purpose of business strategy is to create tomorrow's organization out oftodays. Strategy refers to the actions or the steps by the business owners in order to bring in newcustomers and stay ahead of current competitors (Demir and Gocer, 2011). Developing corporatestrategy is a process to intend the best result after deploying the business resources. Strategicplanning take a holistic view of the performance and potential of the company within itscondition. It has a concept of understanding the market and identifying the needs of the market inthe manner to develop and generate an action plan. Thus, this report of Mark & Spencer has beentaken for brief understanding and explanation of the business strategy. Mark and Spence wasestablished in 1884 in Leeds, UK; is a major British multinational retailer with the specialism inselling of clothes, home products and luxurious food products. It is listed on the London StockExchange and became the first British company to make tax profit over £1 billion in 1998.TASK 11.1 Assess the business mission, vision, goals, objectives and Competitors.Mission: It specifies the company's plans for future or its perspective to look ahead in thefuture market and generate definite outcomes. Mark & Spencer’s mission is to continuethe work by transforming the infrastructure and to focus on consolidating their position asa leading international, multi-channel retailer. By using the potential and capabilities,company would accelerate their food products in UK and International market whichwould produce good business results deliver an end to end GM operating model and drivethe experience of the users on M&S.com (Kourdi, 2010). Vision: Mark & Spencer have a vision to develop a world class talent pool and furthergrowing skills in key strategic areas. The food market will remain challenging but with aview of frequently changing in shopping habits, they are positioned in the market withtheir 62 food stores. Also, company is building its international supply chain in upcomingyears.Goals & Objectives: it is the Statement given by the company about the organizationdesires and goals to be achieve over the period oftime (Stonehouse and Houston, 2013).M&S's main aim is to provide quality family care through its products & services and thefurther objectives are defined by the company are:A more efficient sales process 1
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Improving online shopping Brand and customer satisfaction Improved customer services by hiring skilled staff Designing appealing products for its customers Increase the profitable marginsCompetitors: M&S co. has a wide variety of competitors from the main supermarketsgroups to specialist fashion and home-wear retailers (Mama and Kruger, 2012). Althoughit operates 345 M&S Department stores and around 500 simply Food Shops throughoutUK, still it also have a big list of competitors. Some of them are : Next PLCASDA group PLCTesco PLC1.2 Factors considered while generating the Strategic planIn order to achieve the objectives and the goals as per the strategic plan, the company hasto know the factors which are to be considered while generating the strategic plan. With theperspective of ruling the market, Company focuses on delivering relevant range to its customers,and improving its like for like sales performances across its owned and franchised market. Thefactors to be considered are:Frame a Time scale : Company should define its time duration that is needed to achievethe targeted objective and goals Map a route: Company has to adopt a strategic action s. Working as per the steps wouldcertainly lead to success (Murthy, 2012). Resources availability & requirement: M&S should acquire the knowledge about theresources available and required during working on the plan. Present and Future condition: organization's mission, values, principles and barriershelps in proper generation of strategic plan. To attain the desired future position, anorganization's vision and targets should be specific and achievable in strategic plan. Barriers: Knowing the barriers to the strategic plan would enhance the company'sworking. Barrier plays a vital role in influencing the strategic plan from its way ofachieving the motives and goals (Omar and Sawy, 2013). 1.3 Effectiveness of techniques while developing strategic business plans 2
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