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Business Strategy Assignment - Aldi company
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Added on 2020-10-04
Business Strategy Assignment - Aldi company
Added on 2020-10-04
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BUSINESS STRATEGY
INTRODUCTIONBusiness strategy are made by superiors and managers in order to perform their activitiesin proper order. It act as a road map to company according to which employees and other staffmembers perform their tasks (Acquaah, 2013). These are made with the purpose of achievingbusiness goals and strategies and desired success for company. Aldi is one of the leadingdiscounted supermarket which was established by brothers in 1946. It is Germany basedcompany and operates in more than 18 countries with thousands of stores . This assignment willfocus on vision, mission, goals of Aldi and various techniques used by them to analyse externalenvironment. Analysis of appropriate market areas and strategies for growth of business. It alsodescribes roles and responsibilities of personnels in implementation of strategy and analysis ifresource requirements. PART 1 – Evaluation of strategyAC 1.1 Assess how business missions, visions, objectives, goals and core competencies informstrategic planningStrategic management is a regular process which is established by superiors oforganisation. They apply strategies in order to achieve set business vision and missions. It is anessential part for organisation as all its operation are performed according to strategies made bycompany. To make a strong position in market and to maintain its position, it is necessary tomake effective corporative strategy (Astrachan, 2010). Aldi is a leading discounted supermarketand operate in more than 18 countries. Due to their effective strategies and management, theyhave achieved desired success in their business. Following are some crucial elements which helpAldi to achieve its success:Mission: This is prepared by Aldi's managers in order to plan their business activities andtasks in proper order. It provides definite direction to company which help them to achieve itsultimate vision statement. Mission of Aldi is to provide affordable ad economic goods with highquality to its customers(Campbell, Edgar and Stonehouse, 2011). It is basically a shot statementor a paragraph which is made by company in order to describe purpose of company in concisemanner. It also help employees to stay focused towards their task and also encourage them toproduce innovative ideas in which company can achieve more profits and revenues. 1
Vision: It is an ultimate statement prepared by higher authorities. It reflects the futuregoals of company. Vision of Aldi is “to revolutionize the industry with unique business model”.According to this, company prepare their short term as well as long term mission and act in thatdirection. Goals and objectives: They are important aspects of organisation, goal is basicallydefined as the purpose towards which the business is started whereas objectives are referred tomore clear and measurable targets. Aldi's main aim is to increase its market share within UnitedKingdom grocery market.Core competencies: These are referred to strengths or strategic advantage of anorganisation and includes knowledge, skills and technical capacities that increases the efficiencyof business operations. Core competence of Aldi is that, they mainly focuses on offering qualityof products at low and affordable prices to its customer. Managers ensures easy, simple andefficient business operations so that they can offer low prices for products.AC 1.2 Analysis of the factors which is to be considered while formulating strategic plansThere are many factors which are considered by managers of Aldi while formulating theirstrategies. They ensure that every strategies they make should be efficient so that they can helpthem in achieving their business goals and objectives. Following are some factors: Resources: They are the essential part for carrying out any activity. Resources helpcompany to carry out business activities or tasks in smooth manner. Managers should focus ontheir human capital, equipment, finance and technology and mange them wisely, so they don'thave to face shortages of resources (Bharadwaj and et al, 2013). Aldi can develop best strategieswith its available resources in specified time limit. Environmental factors: It is crucial to consider all micro as well as macro environmentin order to formulate effective strategies because it pose great effects on business success andprofitability. Some of the external factors are political, legal, technological, economical, threats,opportunities, etc. Aldi is effective in measuring the impact of external factors and designsefficient strategy in accordance to these factors. This help them to revive tough situation andmaintain its position against all odds. Following is the Ansoff Matrix which describes the analysis of growth opportunities inmarket. It gives an idea about implication of growth through existing and new products inexisting an new markets. 2
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