Business Strategy-Strategic Management plan

Business Strategy

INTRODUCTION
Business strategy refers to the application of certain strategies through which the
organizations can attain a strategic and competitive edge over the competitors in the market so
that they can ensure that they can enhance the overall level of profitability (Crowley, 2021).
Morrisons has been selected for this report. It is a British Company which provides different
types of products to the customers which are present in the market. In this report, focus will be
made on detailed and proper assessment of the Business Strategy for the particular purpose of
drawing out the different types of conclusions and recommendations which will be highly
helpful.
TASK 1
P1: Macro Environment
Macro Environment of an organization refers to the external factors which affect them
and therefore an organization is required to ensure that the identification of the influence which
is created by them should be done for taking appropriate and necessary actions (Demartini and
Taticchi, 2021). Therefore, it can be stated that this is quite important for a company like
Morrisons. In this way, it will be able to make progress in the future by attaining a strategic and
competitive edge in the market. For this purpose, it is crucial that the use of PESTEL analysis is
made in a right manner.
The application of PESTEL analysis can be made as follows-
PESTEL analysis-
It is an analysis that is done so that the overall impact which is created by the different
types of factors can be identified. The application of PESTEL analysis can be made as follows-
Political factors- It is crucial that these factors are assessed appropriately so that the best
decisions can be taken (Hasrat and Rosyadah, 2021). This is therefore quite important for an
organization like Morrisons.
Economic factors- For the organizations, it is highly important that it analyses the
economic situations in quite an appropriate manner (Ilhan, 2021). They will be able to identify
the way in which their impact is created so that the necessary actions can be taken for the
purpose of increasing the profits. This is necessary for Morrisons.
1