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(Doc) Business Strategy Report of Aldi
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Added on 2020-07-23
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BUSINESS STRATEGY
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Mission, vision and objective can affect the strategic planning of Aldi..........................11.2 Factors that are taken into consideration while formulating strategies for Aldi..............21.3 Worth of techniques that are used in developing business plan. .....................................32.1 Organisational audit for ALDI to determine its current strategic position.......................52.2. Environmental audit for internal as well as external environment..................................6Aldi needs to consider the above mentioned internal and external analysis in order to be awareabout the internal as well as external factors which can affect company's overall performance. ................................................................................................................................................82.3 Impact of stakeholder analysis while formulating new strategy......................................82.4 New strategy for Aldi.......................................................................................................9TASK 2..........................................................................................................................................103.1 Suitable strategy for Aldi in respect of substantive growth, limited growth orretrenchment.........................................................................................................................103.2 Explanation of the strategy for growth and market entry in context of Aldi.................11TASK 3..........................................................................................................................................124.1 Responsibility that is associated with personnel involved in implementation of strategy.124.2 Resource requirements in the implementation of new strategy......................................134.3 Use of SMART targets in achieving the strategic objective..........................................14CONCLUSION .............................................................................................................................15.......................................................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONBusiness strategy can be considered as the most important parameter upon which thesuccess of an organisation depends. Different organisation follows different strategies dependingupon their objectives. They can adopt various methods, techniques, tools to formulate andimplement these business strategies. It is the core responsibility of top management to decide themost suitable strategy for their organisation and thus they try to achieve tremendous level ofsuccess in the market (Tan, 2010). This can only be done by estimating current and previousperformance of the company and on the basis of this a new sound strategy can be made. Incontext of this report, Aldi is known as the most famous brand in the field of supermarkets. Theyare currently having 10,000 stores in 18 different countries. As far as their turnover is concernedabout, they have achieved more than 50billion$ of turnover in the recent year. This group wasfurther divided into two parts. First is known as Aldi Nord and second one is the Aldi Sud. Thisreport is having focus on various aspect of strategies that are made in context of differentorganisation. A company's mission, vision and objective indicate about their planning.TASK 11.1 Mission, vision and objective can affect the strategic planning of Aldi.There are many factors that can be associated with an organisation which indicates abouttheir main strategies. Different companies can use a set of formats in context of formulating andimplementing these strategies. As far as Aldi is concerned, their main mission, vision, objective,goal and core competencies indicate about their strategic planning. Given below is the briefdiscussion about the different factors that directly help in determining the business planning ofAldi:Mission: Aldi's main mission lies between the idea of expanding their business in most ofthe countries. They have already been ruling the market but in the coming future with the help oftheir strong strategy, they will surely cover some more areas of market (Morris, 2012). They arealso focusing on improving their consumer services in order to maintain a strong customerrelationship. They are also trying to improve the quality of all the products that are being offeredin their supermarkets. Best mission plan will affect the strategic plan of the company byfollowing ways:A) Efficiency of work done performed by the company increases.1
B) Mentioned company can attain feasible results. Vision: This can be considered as the way by which an organisation makes their planningin future perspective. Objectives and goal- This can be defined as making a basic idea upon which a businesscan be run. Aldi has a very strong objective of their company . They are trying to provide qualityproducts and services to the customers. Core competencies- They are leading the market in the area of supermarkets. Theirquality of products and services plays a vital role in increasing their market shares (London andHart, 2010). It is found in a survey that Aldi have actually made a very strong impression of theirbrand in the market. Customers are becoming addicted towards this brand. This further indicatesa better expansion of their business in the future. On the basis of above, it can be concluded that mission, vision, goal objective and corecompetencies of Aldi actually shape the main strategies for their organisation. 1.2 Factors that are taken into consideration while formulating strategies for Aldi.There are many factors that plays vital role in making the strategies for Aldi. As it is awell-known fact that different companies have different strategies. This is because strategiesdepend upon the core objective of the company. In this regard, there are many elements that canaffect the strategic planning in context of above mentioned company. Given below are some ofthe factors:Identification of stakeholder- These are the key factors that plays a vital role in theorganisation. Actions taken by Aldi will directly affect their customer, shareholders, suppliers.Therefore, any planning cannot be done by above mentioned company in which they do not giveattention to their main factors, that is their stakeholders (Firnkorn and Müller 2012). Therefore,strategic planning should be done by giving full consideration to their stakeholders. Evaluate internal as well as external environmental- There can be some crucial methodsor concepts that are very popular in the analyses of internal as well as external environment. Forinternal analysis, Aldi should conduct their SWOT investigation that is represented by strengths,weaknesses, opportunities and threats. On the other side, external analysis can be done uponmany concepts such as PESTLE. This will surely help the company to formulate a soundstrategy.2
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