Strategic Management Plan for Competitive Business
Added on 2020-10-22
15 Pages4945 Words131 Views
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Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................1P1 PESTLE Analysis .................................................................................................................1M1 Strategic management decision............................................................................................3Task 2...............................................................................................................................................3P2 SWOT Analysis ....................................................................................................................3M2 Assessment of strengths and weaknesses of Vodafone's Structure, capabilities and skill set.....................................................................................................................................................6Task 3...............................................................................................................................................6P3 Porters 5 Forces:....................................................................................................................6M3 Appropriate strategies in gaining the competitive advantages and better market position. .7P4 Bowman's strategic theory.....................................................................................................8M4 Strategic management plan.................................................................................................10D1 Objectives which enhance competitiveness........................................................................10Conclusion.....................................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONBusiness Strategy can be defined as action plans or competitive moves that anorganisation uses in order to achieve organisational objectives, attract customers, to remaincompetitive and achieve organisational goals. A business strategy simply means what anorganisation wants to achieve and formulates plans for achieving it. A strategy of a businessescan also be long term plan which are designed to achieve a particular set of objectives or goal ofan organisation. In this Vodafone is taken as an organisation, Vodafone is an Internationaltelecommunication company, it serves in regions of Europe, Africa, Asia and Oceania. It isranked 4th with a to total number of subscribers 313 million in 2018. Vodafone provides itservices in more than 25 countries across the world. This report discusses about the macrofactors that has an impact on Vodafone and to its business strategies, this report also discusseshow these macro factors have a impact on the decision making of Vodafone. This report alsodiscusses about the internal environment of an organisation and what are its capabilities. Thisreport also sheds the light on Porters Five forces of Vodafone and what are the outcomes whileapplying Porters Fives forces in a given market sector. This report also discusses about thevarious strategic decision available to the organisation.Task 1P1 PESTLE Analysis PESTLE analysis is tool that is been used by the marketers for analyzing and monitoringthe macro factors that have impact on the organisation. It is the scanning the external factors thatare present in the environment. There are the various macro factors available in the environmentwhich have impact on the strategic planning of the business. The list of components are used byvarious project managers before starting a new project in different parts of the world and theycome across through various forces of the macro environment and helps them in decisionmakings(Akdogan, Dogan and Cingöz., 2015). These letters stands for Political, Economical,Social, Technological, Environmental and Legal. PESTLE analysis for Vodafone can be done as Political: UK is considered as the one of the most powerful countries of the world due to itspolitical stability but there has been rise of some instabilities in the political database due tointroduction pf Brexit. Some believe that it will bring political instability and also will bring thehuge challenges. While other believe that Brexit will bring opportunities for the country. Thegovernment of UK has announced to make reduction in the tax which was 19% during the1
budget 2016 and it is reduced to 17% in 2018. UK has been supporting real estates, technologies,sports and many other industries which have led to huge investment from the over seas. Manybusiness players and organisations have made investments in the number of industries of UK asthere are the chances of growth and expansion of businesses in UK.Economical Factors: It is the most important factors of PESTLE analysis. UK is ranked as the5th largest economy across the world by world Bank in 2017. UK had to face the recession in2008 which led to the set back to the economy of the country but the UK government managedto a necessary steps and were able to come out of economic trouble. In 2017 British householdsalso faced some challenges due to inflation rates(Alstete and Beutell., 2016.). The inflation ratesrose up to 3.1% in the month of November 2017 which resulted in the increase of interest ratesup to 0.25% and there are the chances of further increase in interest rates in UK. Currentminimum wages for the people working in the organisation was 7.50 euros per hour but it hasincreased up to 7.83 euros per hour. But there are still many opportunities available for thevarious organisations and needs to be explored by the organisations. Social Factors: This factor is also the important factor, as UK has been influenced by the socialclass from the past till present. In recent years the companies have been creating new productand services in order to meet changing needs of the customers because there has been rise in theneeds of people of different religions and different races. UK is ranked among top 10 educatedpeople in the world and also ranked number 3 in overall best countries of the world which meansthat there is a high costs of living standards in UK.Technological Factors: UK is also considered as the one of the most technologically advancedcountries among the world in which London is considered as the hub of technology and for thefinance. With the increase in the business there has also been increase in the technological upgradations in UK and these technologies are offering more technical solutions to its customers.Technological factor is also the one of the major contributions of economy to UK.Environmental Factors: UK's economical activities have a impact on its environmental factors.The government and other bodies are taking variety of initiates in order to create theenvironmental awareness and also are taking the measures of reduce the negative impacts ofthese growing economies on the environment of UK. UK is facing the challenges with itsenvironmental conditions as there has been continuous increase in the economies andindustrialization in UK. Rise of tourism in UK especially during summers have posed a2
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