Impact of Macro Environment on Business Strategy

This report examines the impact of macro environment on business strategy using different frameworks. It critically analyzes the macro environment to inform strategic management decisions. It also applies concepts/frameworks for strategic planning in relevance with the organization. The subject is Business Strategy and the document type is a report.

BUSINESS STRATEGY

TABLE OF CONTENT
INTRODUCTION.................................................................................................................................3
TASK 1.................................................................................................................................................3
P1 Using different frameworks examine the impact of macro environment......................................3
M1 Critically analyse macro environment to determine & inform strategic management decisions..6
D1 Critique & interpret information, data, applying environmental & competitive analysis to
produce a set of valid strategic directions objectives & tactical actions.............................................6
TASK 2.................................................................................................................................................6
P2 Evaluate internal environment as well as capabilities of the enterprises.......................................6
M2 Critically analyse internal environment to assess strengths & weaknesses of organisation
internal capabilities structure & skill set............................................................................................8
P3 Use porter five force model in relevance with organisation..........................................................8
M3 Devise appropriate strategies to improve competitive market position based on outcomes.......11
TASK 4...............................................................................................................................................11
P4 Apply concept/ frameworks for strategic planning in relevance with organisation.....................11
M4 Produce strategic management plan that has tangible & intangible strategic priorities &
objectives.........................................................................................................................................13
CONCLUSION...................................................................................................................................15
REFERENCES....................................................................................................................................16
Books and Journals..........................................................................................................................16

INTRODUCTION
Business strategy is a plan of action which helps in performing different business
activities & functions in an effective way. It is necessary for manager to maintain effective
strategies & approaches to achieve advantage over rivals at marketplace. In addition to this, it
is guidelines which help the organisation for accomplish goal as well as objective of business
organisation. And also it is essential to implement new technologies for performing function
and activities properly. This report is undertaken on Bentley. It is leading Multinational
Corporation of UK which offer luxuries car to its customer at affordable price. This
organisation was founded by H.M. Bentley in the year of 1919. In this report, the SWOT and
PESTLE analysis is used to assess the internal and external environment of business
organisation in an effective manner. Furthermore, porter five force models are adopted by
company in order achieve competitive advantage over rival firm at marketplace.
TASK 1
P1 Using different frameworks examine the impact of macro environment
In industrial sector, strategies play a crucial role as they affect the overall
productivity, growth and overall development of a business. A business strategy is a set of
competitive actions that a business does to attract customers, compete successfully,
strengthening performance, and achieve organisational goals. It outlines how business should
be carried out to reach the desired ends (Hsu, Moore and Neubaum, 2018).
Every corporation needs to develop and adjust itself to changes at every phase thus
implementation of strategies is necessary. Strategies help business to innovate new ideas to
brace businesses marketing activities. Different macro environment elements affecting
business strategies are explained below-
Mission: To achieve leading position in automobile industry and provide quality
products as well as service to its customer.
Vision- Main vision of firm is to change the innovation and implement new invention.
Objective: To enhance and improve efficiency of cars and increase sales unit per
year.

PESTEL Analysis-
It is a tool used to identify as well as examine the macro external forces affecting an
entity. The letters stand for Political, Economic, Social, Technological, Environmental and
Legal. Bentley adopts this tool to identify and evaluate factors affecting growth of their
business. Using this analysis is important as it helps in proper evaluation & understanding of
business and strategies at various levels and helps to identify changes in the macro-
environment. Organisations that successfully monitor and respond to the changes are able to
differentiate from the competition and create a competitive advantage.
Let’s look at various elements of PESTEL analysis.
Political factors-political factors specify the extent to which government and its
policies impact on a business or industry. This involves governmental law and stability as
well as trade, fiscal and environmental law, taxation policies etc. such factors indirectly affect
the growth of the business and diverts business from their core work. Appropriate research
and credentials of market is essential to overcome with those political factors. Different
Countries have their unique rules and regulations according to which business performs their
functions. Bentley focuses and pays attention on these factors and plans their line of action
accordingly to nullify conflicts in any business activities(Revathi and Aithal, 2018).
Economic factors- These have impacts on the economy and its performance, which
in turn directly affects business organisations & their profitability. Such elements include
interest rates, employment or unemployment rates, costs of raw materials and foreign
exchange rates. Such factors cannot be controlled by the business firm’s so a proper research
of market is essential. In context to Bentley, they always try to enhance their relationships
with government and also with the management which helps their business to face such
challenges.
Social factors- These focus on the social environment and analyse the emerging
trends which help a marketer to understand the needs of their customers. They involve
changing family demographics, education levels, cultural trends, attitude changes and
changes in lifestyles. It is important to analyse these elements as they help in determining the
end results of business. Various organisations use social factors so that marketing strategies
are executed properly. Behaviour of the customers and their perception depends upon these
factors thus it is important to analyse these social factors as proper analysis of these factors

helps business to use strategies in effectively. In relation with selected entity, they follows all
these stated elements with the goal of acquiring more and premium set of end users and
enhance their profits. Bentley not only focuses on premium segments of customers but also
with opportunities in market now they also targets other segments by focusing on social
factors so that they reach to large number of customers and achieve their objectives.
Technological factors- These consider technological innovation and development
that could affect a market or industry. Factors include changes incuse of artificial
intelligence, advanced use of tools and equipment’s, digital technology, automation, research
and development. There is often a tendency to focus on developments only in digital
technology, but consideration must also be given to new methods of distribution,
manufacturing and also logistics. Technology is necessary for both enterprise as well as
society. New organisations are entering with innovative approaches which have led to
increase in the value of technology in market. Excess use of technologies has made people
addicted to its use. Use of technology has simplified the life of humans but on the other hand
it has also made a negative impact on the behaviours of the people(Zucchella and Previtali,
2019).In context to Bentley, Bentley uses various advanced features in their new productions.
Adoption of technological factors has not only raised their sales revenue but also has led to
enhance their goodwill as a premium segment car manufacturing company.
Environmental factors- These includes pollution, weather, waste management, green
agenda. They are to be considered as top priority level as focusing on these leads to
fulfilment of corporate social responsibility. These affect the marketing, advertising and
promotional tools of a firm. In context to Bentley, Bentley uses various tools and procedures
to analyse and evaluate such factors so that all the activities relating to environmental
components are carried after making required changes to achieve desired objectives in proper
and appropriately.
Legal factors- A business organisation must have the knowledge of what is legal and
allowed within the countries they operate in. also they should always aware of any changes in
legislation and what impact this may have on their business operations. Factors include
employment legislation, agreements, commitments, consumer law, health and safety, as well
as trade regulation and restrictions. Such legal factors are needed to be considered as
avoiding of these factors affect overall growth and development of the business organisation.
In reference to Bentley, they have focused designated team for handling such legal factors

who makes sure that all these factors are compiled so that business activities does not get
affected and ensure smooth flow of business.
Thus after understanding of stated macro environmental factors it can be said that
organisation adopts various tools and strategies to monitor the market situation. PESTEL
analysis helps an organisation to identify the external forces that could impact their market
and analyse how this could directly impact their business. It is important while undertaking
such an analysis that the factors affecting the organisation are not just identified but are also
evaluated and assessed. PESTEL Analysis helps the business to carry out their core activities
in effective and efficient way. Business uses PESTEL to protect themselves from
uncertainties of events (Tsai and Lin, 2016).Using of PESTEL has helped Bentley evolve in
competitive market and grow and enhance their business.
M1 Critically analyse macro environment to determine & inform strategic management
decisions
Macro environment affect the business at depth which results in slow down of growth
as well as development. These are determined by using PESTEL tool through which they are
able to face such elements appropriately. Also strategic management decisions are taken with
help this analysis and are applied in management.
D1 Critique & interpret information, data, applying environmental & competitive analysis to
produce a set of valid strategic directions objectives & tactical actions
PESTEL and SWOT Analysis has been used effectively so that strategies and tactics
are implemented appropriately. Strategic objectives are crucial to achieve so that competitive
advantage is taken & with help of tactical actions new opportunities are revealed in market
which are then used by firm. To conduct these both functionally, market research is done by
management so that data is gathered & collected accurately.
TASK 2
P2 Evaluateinternal environment as well as capabilities of the enterprise.
SWOT analysis is a framework which is adopted by business firm to examine the
internal as well as external environment of business firm. In other words, it helps in assessing
opportunities, strength, weaknesses as well as threat and many more. In context of Bentley,
the manager adopted SWOT analysis which is going to be mentioned below:
STRENGTH WEAKNESSES

 Bentley is well known international
company which offer luxurious
quality car to its customer at
affordable prices.
 The supervisor of Bentley offer
unique products and services to its
customer that helps in achieving
leading position around the world.
 Bentley is located globally and which
and have goodwill in market and it
help them to raise capital for business
operations in easier way.
 Bentley Car produces pollution which
imposes adverse impact on
environment which can be determined
as weaknesses for business
organisation.
 The manager of Bentley targeting
small group of person (higher class
people). Therefore, the growth of
business organisation is not
sustainable in this segment.
 Due to design their luxurious car,
Bentley takes too much time.
Therefore, the customers need to wait
for longer period. Therefore,
customer can switch their brand to
competitive brand can be determined
as weaknesses for business firm.
OPPORTUNITIES THREAT
 The manager of BM implements
advanced technology in order to
provide superior quality products and
services to its customer in order to
satisfy them.
 They do not spend expenditure on
promotional activities such as
advertising, publicity as well as sales
promotion to improve brand across
the world. So, through this they have
opportunity to save cost and
resources.
 Furthermore, they have opportunity
of extending their product line into
new market which will increase their
customer base and market share
 The cost of implementation of latest
technology is very high; it adds extra
cost for the business firm.
 There are wide variety of competitor
of Bentley can be considered as a
threat for business organisation.
 Due to change in government rules
and regulation, it is crucial for
Bentley to change their policies is
determined as a threat for
organisation.
 Also, cost of production is high which
have direct impact on imports and
export of products.

growth.
VRIO Analysis
The manager of Bentley adopting VRIO analysis in order to assessing internal
capability of business which is going to be mentioned below:
Valuable: Herein, the business emphasised on those segment which increases sales as
well as profitability level in future period. Then further, the manager focuses on optimum
utilization of resources that helps in increasing growth and development of firm. Bentley
offer luxurious car to its end users at affordable price in order to achieve goal and objective in
targeted period of time (HunTer, 2016).They use their valuable resources for gaining
competitive advantages over rival firm at marketplace. There are various kinds of valuable
resources such as global presence, competent workforce, and brand equity as well as financial
resources. In this process, due to global presence it is valuable resources for organisation and
also they provide high quality products and services to its customer for satisfying them. And
also it is necessary to have competent workforces for gaining competitive edge at
marketplace.
Rare: Rare included those resources which offer unique selling products to its
customer. The manager of Bentley focuses on using their resources in boosting its brand
image as well as goodwill of business firm. They deliver their superior quality car to its buyer
to satisfy them at optimum level.. There are rare and unique resources such as competent
workforce, brand equity and financial resources which is beneficial for organisation. They
provide effective training to its employees in order to provide branded products and services
to its customer and they have financial resources for achieving goal at marketplace.
Inimitable: Bentley used their resources which is inimitable by other competitive
firm. The manager of company hires competent employees to provide high level of services
to its clients & end users at affordable price which cannot be copied by its rival firm. It assists
them in maintain good relationship with its customer that helps in increasing sales as well as
profitability level in the market. There are resources includes brand equity and financial
resources which is not imitable or duplicated by other competitive firm.
Organised: Bentley has a good distribution network which offer superior quality car
to its client. They offer luxurious quality car to its customer in order to more and more profit

in the market. It helps company in increasing sales as well as profitability level in future
period of time. They provide branded products and services to its customer for satisfying
them.
M2 Critically analyse internal environment to assess strengths & weaknesses of organisation
internal capabilities structure & skill set
Main strength of chosen entity is that they provide quality of service and luxurious
cars which increase their financial base. Weakness of enterprise is that to implement such
high technology cars they need expertise in field of automobile and which is difficult task.
Further internal capabilities of industry are that they identify & adopt the change in
environment effectively.
TASK 3
P3 Use porter five force model in relevance with organisation
Market is changing drastically and developing at rapid level. To deal with new
challenges and competition in market firm are implementing strategies as well as tactics in
their business to survive for longer period of time. So, in this report Porter's Five Forces has
been used as tool which is used to examine the degree of competition which is faced by
enterprise in any enterprise & consistently analysing the effect of the tactics & strategies on
the productivity of the organisation. This is time consuming approach but effective and is
adopted by firm. In relevance with Bentley, they use this method so that market uncertain
situation is known in appropriate manner. Also, through this decisions are made ineffective
manner in business(Alstete and Beutell, 2016). The chosen firm has many competitors like
Mercedes Benz, BMW, Rolls Royce Motors, Aston Martin, Ferrari, Porsche, May bach,
Jaguar, Lexus, Audi, etc. Degree of competition is rising with an enormous speed and to
maintain uniformity of organisation in market such models are used and applied
appropriately. It is not easy to deal with competitors as well as rivals because to do so
accurate information is required by to analyse rival strategy in business. Many companies
hire agents or third parties who assist them in giving credentials bout their competitors. With
help of porter five force model, new strategies are implemented in effective manner. In this
framework, five forces are involved which assist in analysing attractiveness, competition
degree & profitability of industry. The five forces are bargaining power of suppliers,
bargaining power of buyers, threats of new entrants, threats of substitutes and competition
rivalry. These forces examine the market situation & helps enterprise to make effective
strategies for business and operations. To implement this high level of skills and knowledge

is required at depth so that conflicts & errors do not arise in near future. Further, it is
important for Bentley to adopt this framework for overall growth & development. It is
responsibility of manager of firm to make ensure that these five forces are used in proper
manner with right information and data so that it can be applied in management accordingly.
Thus, Porter five forces is discussed below-
Bargaining power of buyers- In this element, it states that power which is used by
buyer to bargain. Bargaining power in Bentley is relatively high which means that customers
are ready to pay the high prices for good services & products. Also, as buyer power high firm
provide huge discounts and offers because customer always wants discounts on established
products so to deal with situation it is crucial for Bentley to deliver new and innovative
products into the market so that power of buyer changes as the priority of customer change
take place. Hence, by doing this it will increases the process as well as production process of
firm and business.
Threats of substitutes- Further comes the availability of substitutes also have deep
impact on firm productivity a lot. Market is wider and many products are available for same
type and unique type. This also affect the value proposition which is different as well as
unique form each other. So, in relation with chosen entity they can prevent from this situation
by properly understanding the need and requirement of customers, providing more quality of

service & examining the switching behaviour of customer. By doing this in appropriate
manner Bentley has the opportunity to make them unique from others in market. Moreover, it
also helps in creating goodwill in market and enhances firm performance level.
Competition rivalry- Then comes the competition rivalry in which competition in
market affects the business at broader scale. For example- BMW and Rolls Royce are the big
rivals of Bentley and due to which management as well as business growth slowdown and
have deep impact on product. Most of the times many firm decrease and lower their cost
price of product acquire larger market share growth & customer base. Thus, rivalry increases
the competition & affects the business sector. Hence, it is beneficial as well as non-beneficial
depending upon firm perception. In relevance with Bentley they tackle their rivals by
adopting differentiation strategy, extending their scale as well as network chain and merging
up with competitors rather than competing with them in market for the same purpose. Hence,
expanding networks & line helps to deal with competition rivalry(Pham, Pham and Pham,
2018).
Bargaining power of supplier- In organisation, suppliers are integral for business
because they are the source through which firm is able to distribute their products to end
users and in market. It is necessary for company to select right supplier for business so that
they products and services are being distributed in proper way. Also, vendors charges
different form each other so, it is important to make ensure that affordable and suppliers with
goodwill are being selected by company. In relevance with chosen enterprise, if power of
supplier is high than productivity as well as profitability of firm will be affected & if it lower
than organisation can negotiate with vendors. Thus, bargaining power of supplier of Bentley
is lower or negotiating depending upon how both the parties accepts the mutual benefit.
Threats of new entrants- Business sector is changing periodically & many new
business dare taking place in market. In automobile industry most of the companies are old
established but they introduced new cars with innovative features. So, in relation with
Bentley, they have also been affected by new entrants such BMW is series 7 and 8 series
were launched in 2019 and gives tough competition to Volkswagen, Audi and Bentley.
Whereas chosen firm has also new product ion the list which is Continental GT first edition
which is the latest car of company. Thus, with implications of threats of new entrants entity
loses its market value proposition & makes it difficult for enterprise to survive in market and
do the business. Due to this, switching behaviour of customer changes at wider scale. New

entrants of business come up with new methods, ideas which is harmful for product and its
creditability in the market. Hence, with proper research this situation can be handled &
managed.
So, after examining the specified paragraph, it is stated that to make business survive
and increase its sustainability in market it is necessary to use frameworks so that goals and
objectives are achieved in proper manner. Further, it is to be done after collecting as well as
gathering information about market & competitors in appropriate manner. Thus, decisions
making is done in effective way. Moreover, new ideas & methods need to be applied in tool
so that strategy is unique & different form existing brand. This helps in maintaining the
progress & performance level of business. When selecting these forces, proper measures
&plan is to be prepared so that time and resources does not go wasted.
M3 Discuss appropriate strategies to improve and develop competitive market position based
on outcomes
Porter five forces is a tool which assist firm to adopt suitable tactics and strategies to
survive in market and improve their brand position. To deal with competitors, they should
conduct proper market research so that necessary information is acquired. Another strategy is
that they need to implement promotion & advertising for their product so that people get
attracted towards their product as well as brand and it will helps them to face new entrants
effectively.
TASK 4
P4 Apply concept/ frameworks for strategic planning in relevance with organisation
Strategic planning is important in organisation for development at rapid rate. Though use
of SP business identifies the opportunities available in market and this help them in
expanding their activities across the globe(Lai, Melloni and Stacchezzini, 2016). Thus, SP is
the boost in the organisation and enhance productivity of firm. In this competitive era, it is
crucial to be ahead from other & which is done by using new ideas and thoughts &
implementing them effectively. Thus, planning a tactics assist business to face the challenges
& issues. Therefore, to implement a proper strategic planning Bentley uses Ansoff matrix in
which growth and different strategies are used at different level of stages. This framework
assists business to analyse where to carry out and perform firm functions as well as
operations and defend it at time of difficult situation. This tool has four quadrants which are
explained below-

 Product Development- This depicts that in existing market new goods are marketed
and introduced. This level of stage, new development product is used by entities to
launch and implement the product in market. Further, before introducing new
innovation market research and demographic variables such as gender, age, income
etc. are to be analysed properly because outcomes of new products are unknown so
organisation go for NPD process to determine & examine end user's behaviour. In
context to chosen firm, new BMW x1 and x2, 7 and 8 series have new models in
market. This is done by companies to update the customer and market about
innovation & change of the company. Also, in addition to this more new customer
will be attracted towards the brand & value of business will be increased.
 Market Development- This includes, in which in new market existing goods and
services is used for business. This quadrant of matrix is mostly adopted by enterprise
in order to gain more customers and market growth. Adopting market development
assist business to explore more new opportunities at larger scale. Corporation uses
strategies which helps them to develop their brand and product in new geographically
area in proper manner. In context to Bentley, they are using their new products into
different countries such as India, many cities are there where BMW does not have
market and are opening at larger scale. Going with this strategy planning helps the
business to acquire more resources and to enhance their profitability at different
regions. Thus, this also depicts that product will be extended from one region to other
which will results in indirect advertising and promotion
Market Penetration- This aspect is used when firms uses its existing goods into existing
market to extend & increase the market share & product expansion. In MP, a corporation
focuses on their customer requirements and changes which are essential in existing product. It
is being adopted by enterprise so that mutual relationship and trust is built between
organisation and end users. Further, this stage assist in acquiring more demands of the
product and revenue is generated at higher level. Consistent changes of the products leads to
increase in switching behaviour of customers(Linder and Williander, 2017). So, for stability
of management as well as end users it is crucial to adopt market penetration strategy in entity.
So in relation with Bentley they use this strategy so that they do not lose their old end users
and market in regions(Man,2016).
Diversification- Then arise stage in which products as well as market both are new. This
one is more risky and time consuming as comparedto others stages of Ansoff matrix. In this,
entity uses this so that business grows as well as develop & to increase profit revenue at
wider approach. Diversification results to wider opportunities and larger market &profit
share growth. In relation with chosen entity they too use this step to acquire more customers
and resources for their product. Besides this, through diversification company can also merge

up with new business to expand their activities in new market. This beneficial as it helps
them to share profits as well losses as equal so with help of alliance or partnership it becomes
easy to deal with uncertainty & bear the risk equally. Hence, it depend upon firm how they
use this aspects with innovative ideas (Moreno-Izquierdo., 2016).
After examining the above matter, it is analysed that in business strategic planning is used
by everyone at every phase. Also, with proper analysis & information these strategies can be
used as competitive advantage by firm. Therefore, when these are used it is to be pre-known
when, what and how to use them in management or business. This is because any wrong
selection of these strategies might affect the whole system of organisation. Thus, consultant
or expert is to be hired so that effective decision making is done in proper way. Through this,
new ideas and thoughts are also generated which can be further used in other activities of
business(Johnson, 2016).Through this framework, it is easy to examine the market situations
which help in effective decision making. Further, it also help in implementing strategies as
well as tactics.
M4 Produce strategic management plan that has tangible & intangible strategic priorities &
objectives
A strategic management plan is essential for every organisation so that goals and
objectives are achieved properly. Strategic planning is essential as it help firm to use their
resources in most effective way. Furthermore, it has also been seen that developing the plan
help in generating of more new ideas as well as thoughts which is beneficial for firm.
It includes several elements which are listed below-
Mission: To achieve leading position in automobile industry and provide quality
products as well as service to its customer.
Vision- Main vision of firm is to change the innovation and implement new invention.
Objective: To enhance and improve efficiency of cars and increase sales unit per
year.
Tangible priorities- Their main priority is to increase sales unit and performance of
cars in the market. There are other tangible products which are their priorities such as
manpower, equipment, resources etc.
Intangible priorities- In this, priority is to maintain business environment with peace
and mutual relationship.

After analysing the strategic plan the actual course of action and result are being
examined with considerations and all the effective measures which can increase the
productivity.

CONCLUSION
After a brief analysis of above report, it is concluded that to survive in market and
make business profitable business strategy is used by every firm. In this concept, different
types of frameworks are used such Ansoff&Porter five forces analysis. These tools are used
by enterprise accordingly to the requirement & demand. To implement these models, expert
is hired by many firms so that right decisions are made with right choice. Also, it is
responsibility of entity to ensure that goals & objectives are achieved in with use of strategic
planning and business strategy. This helps in firm to choose the suitable model which
increases & enhances productivity of business. Also, to make organisational base strong,
competitive advantage is to be gain by enterprise so that it becomes easy for them to tackle
competitors worldwide. These are to be use in effective manner so that conflicts and errors do
not arise in near future. Thus, business strategy is way of saving business from being getting
affected by rivals.

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