Business Strategy

This document discusses different types of strategic direction available to businesses and provides justification for the most appropriate growth platform and strategy for John Lewis Limited. It also includes a strategic management plan with strategies, objectives, and tactics.

Business Strategy

Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Different types of strategic direction available to business....................................................1
Justification of most appropriate growth platform and strategy for John Lewis Limited......2
Produce a strategic management plan with strategies, objectives and tactics........................2
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Strategies need to be more appropriate and suitable in tenure so that it leads to provide better
and effective consideration in favour of it (Bharadwaj and et. al., 2013). Business needs to be
more focus on their diverse number of framework so that it leads to provide and reflect better
and supportive outcome. Whenever, any kind of deviation arise, such strategies reflect and
provide strength to business and its workings. This project is based on John Lewis Limited
whom want to determine the macro and micro environment properly for assessing and deriving
better and effective outcome. Hence, to manage their various operations properly, organisation
will going to devise their strategic plan in better manner so that concentrated results would be
gain. It will also devise the strategic direction for business with suitable and appropriate growth
options which lead to enhance overall direction of working for better outcome.
TASK
Different types of strategic direction available to business
Strategic direction define about the course of action which used to and support business to
move forward the target and strategy accomplishment of business. The growth and strategic
direction is essential for business when they used to and want to expand themselves at next level.
The various strategic direction when John Lewis will going to expand themselves at new market
area are define as follow:
Market Penetration: In this context business supposed to be more specific in their
products and services by targeting existing users or by determine new customers at existing
market area (Bucolo and Matthews, 2011). This stage or step is helpful for them so that better
and effective working could be maintain and manage at existing area.
Market Development: Another step or stage which represent business is development of
market. Here, John Lewis could expand themselves at new area through option of merger and
acquisition of some other company.
Product development: The third consideration is associated with product development
where management could and lead to introduce a new product at new market area. This enable
those to attract their existing goodwill and name of other define area which further enable them
to grow and diversified their number of operations as well.
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Diversification: This could be in two terms either related or unrelated. Hence, John Lewis
already taking place in unrelated diversification where they engage in retail sector as well as in
financial service providing as well.
All these options need to understand and determine properly which supposed to be utilise
by John Lewis when they going to enter into new market area or could be made them more
effective in existing area world.
Justification of most appropriate growth platform and strategy for John Lewis Limited
The most appropriate and suitable growth platform for John Lewis which need to
understand and interpret by managers of a company is market penetration. In such scenario, they
have a chance to prove themselves at existing world by targeting new customers. Although, they
have operations in each and every part of the world with suitable diversifications related as well
as unrelated.
Market penetration provide them a platform where they could become able to prove
themselves to existing customers and enhance their goodwill as well (Kalyani and Sahoo ,2011).
In market penetration they have an option to become sustainable at existing world or they have
option to target new customers as well. There is no need to represent themselves at new world
and take a risk of non-profit. One wrong step will directly enforce them towards negative
direction and thus, they lead to lose their members interest in themselves. This growth option
have to underpin by marketing managers properly and try to convince out existing user base
properly. Henceforth, better concentrating scenario could be assess and evaluated properly and it
will also reflect them effective working ability.
Produce a strategic management plan with strategies, objectives and tactics
Methodologies are a centre piece of business which need to adjust and change with a
characterize course of time. Plan dependably bolster in picking up and determining better result
with the goal that adequacy could be keep up and oversee. In this viewpoint, key arrangement
prompt show signs of improvement and strong outcomes could be evaluated (Grover and Kohli,
2013). Key arrangement characterize as a procedure which empower in giving guidance to entire
workforce unit. Administrators could reflect positive commitment while planning key
arrangement in a superior and characterize way. It totally in light of future vulnerabilities which
required to appraise ahead of time with the goal that evasion of outer impact could be driven
down. Without vital arrangement business tasks prompt occur on consistent premise yet such
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working would not benefits an association. It has a few components whom nearness is should in
an affiliation with the goal that better and compelling working could be advanced.
John Lewis need to create such strategies and piece of work which enable and facilitate
them to generate more profit and revenue in context of future while dealing with all kind of
major aspects. This section get done with effective working operations while determining the
PESTEL analysis or could be said macro environment analysis for managing effective and better
operations. All such major elements which really need to craft out strategic plan need to assess
by management of a company so that beneficial gain could be underpin for long term scenario
and running smooth operations (7 Elements of a Strategic Plan, 2018). All such elements which
used to present and define a major strategic plan for John Lewis is define and signify as follow
which used to interpret their strategies of future properly for deriving better future growth
options.
Company Overview
John Lewis Plc operate in departmental stores, super markets etc. and in many other
sections as well. It was incorporated in the year 1929 where profit used to get distributed among
the partners whom treated as the employees of a company (Company Overview of John Lewis
plc, 2018). It is a public limited company with not only dealing in retail store outlet but also in
financial service providers as well. In the year 2016, it was define and determine as largest
company as per the revenue and non-trade corporation in the United Kingdom. Company have
an average 11 million revenue in the year 2015 as well as have good customer base. Although,
they supposed to also provide job to more than 80000 employees around the world. They have
good and appropriate number of stores in all over the UK by leading top brands. They also have
their own brands production which facilitate to determine appropriate sales and good delivery
process.
Mission Statement
The Partnership's ultimate purpose is the happiness of all its members, through their
worthwhile and satisfying employment in a successful business (Our principles, 2018). This
signify that business used to mainly focus on their working ability so that their employees could
be gain and utilise better and effective service delivery and gain the response of better profit
margin as well. This enable them to maintain and define a differ corporate image in the world
which synchronise effective and beneficial working ability as well.
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Vision Statement
John Lewis want to create such image in front of their members which enable and
support them to define and determine better and appropriate outcome for future. Members are the
ultimate response for John Lewis which required to understand by management in better and
definite manner of frame as well.
Core Values
Business used to mainly focus on some values which interpret and define their work in better and
appropriate manner. John Lewis have some core values on which they used to work properly
which further assist them to maintain a sense of satisfaction among all of their members. Below
are define as some core values on which john Lewis used to focus mainly for managing their
work in better and effective manner:
 Quality
 Service
 Innovation
 Trust
These clearly define that for satisfying all individuals, business mainly focus on quality
which enhance their profit so their members shares tend to rise as well.
Objectives
John Lewis Limited has a few quantities of goals in regards to every last area whether it
related with deals, representatives or some other. Despite the fact that, they have to define a few
hierarchical goals also with the goal that better related working lead to complete.
• Employee introduction
Authoritative Objectives:
• Want to end up a market pioneer by cost
• To increment deals by 10% of the apparel area
SWOT analysis
In this regard, management of John Lewis want to evaluate all their major strength and
weakness properly. A major strength of a John Lewis Limited that they have high number of
street shops and number of services used to deliver. This consideration used to enhance their
market share which present their work in better and supportive manner so that growth could be
render out in better and appropriate frame. Used to implement internet shopping mode as which
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represent business sales as well as used to maximise their revenue as well. By focusing on
innovation, they become more able to target new customer group through reaching such market
area which need and required more concentration.
But their major weakness associated range of products. John Lewis used to offer high
quality products on high rates which aspect advantage easily could be determine and carried
down by their rivalries (Jocovic, and et. al., 2014). In this manner, more proper preparing and
advancement occasions required to jump start out and work upon. Alongside this, they have to
concentrate more on developing nations where odds of picking up piece of the overall industry
and foundation end up conceivable.
Action plan
A strategic plan also includes about the action plan. Business need to craft their own action plan
properly which support them to grow and expand themselves in better and effective manner. This
action plan is focused on John Lewis Limited whom are one of a most appropriate retailer and
financial service providers in the UK. Business action plan of John Lewis needs to be more focus
on the things which used to enable themselves in gaining market share properly. Specific: Want to increase and rise their sales of clothes by 10% as well as want to
maximise their revenue through credit cards and financial services with 5% in next two
years Measurable: The percentage form of sales and specification of plan enable John Lewis to
calculate and determine their overall growth and capability to deal at market world. This
will assist them to maintain growth at market area properly. Attainable: Targets like 10% in sales and 5% in financial services define as measureable
one for business like John Lewis. Relevant: Targets are relevant to business just because they have took the place of
leading non traded company in the year 2016.
 Time bound: Targets need to be accomplish and achieve in next two to three years. This
time boundaries enable and facilitate management to more focus on their work so that
better and supportive gain could be determine for long term existence of business and its
working operations.
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CONCLUSION
It get evaluated from the project that business strategies provide a relevant direction to
management so that better and suitable working could be done. Strategic direction is essential
which facilitate to define and evaluate major growth and signified operations as well. Although,
with appropriate strategies, management could become able to determine the major growth
related options properly and required to work on them as well. Strategic plan includes about the
core values, goals and objectives of a company on which management need to work in better and
effective manner. Thus, it directly support and provide strength to future so that future oriented
uncertainties could be rid out in better and appropriate manner.
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REFERENCES
Books and Journals
Köseoglu, M.A. and et. al., 2013. Linkages among business strategy, uncertainty and
performance in the hospitality industry: Evidence from an emerging economy.
International Journal of Hospitality Management. 34. pp.81-91.
Murano, E. and et. al., 2011. Hyaluronan: from biomimetic to industrial business strategy.
Natural product communications. 6(4). pp.555-572.
Oestreicher-Singer, G. and Zalmanson, L., 2012. Content or community? A digital business
strategy for content providers in the social age.
Schaltegger, S. and Wagner, M., 2011. Sustainable entrepreneurship and sustainability
innovation: categories and interactions. Business strategy and the environment. 20(4).
pp.222-237.
Scholes, M. S., 2015. Taxes and business strategy. Prentice Hall.
Slack, N., 2015. Operations strategy. John Wiley & Sons, Ltd.
Svee, E. O., Giannoulis, C. and Zdravkovic, J., 2011. Modeling business strategy: A consumer
value perspective. The Practice of Enterprise Modeling, pp.67-81.
Online
7 Elements of a Strategic Plan. 2017. [Online]. Available through
:<https://www.thebalance.com/strategic-plan-elements-2276139>.
Company Overview of John Lewis plc. 2018. [Online]. Available through :<
https://www.bloomberg.com/research/stocks/private/snapshot.asp?
privcapId=22500310>
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