Business Strategy of Aldi - Report
Added on 2020-07-23
14 Pages4901 Words33 Views
|
|
|
Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................11.1 Missions, visions, objectives, goals and strategic planning of Aldi's...............................11.2 Analysing the factors that Aldi consider while formulating their strategic plan.............21.3 Evaluation of usefulness of techniques in developing strategic plans.............................3Task 2..............................................................................................................................................42.1 Analysis of current strategic position of Aldi...................................................................42.2 Environmental audit of Aldi.............................................................................................52.3 Assessing the importance of stakeholder analysis for Aldi when implementing newstrategies ................................................................................................................................62.4 New strategy followed by Aldi.........................................................................................7Task 3...............................................................................................................................................83.1 Identifying the market and analysing the correctness of suitable strategy.......................83.2 Justification of adopted strategy.......................................................................................8Task 4...............................................................................................................................................94.1 Assessment of roles and responsibilities of personnel.....................................................94.2 Assessing the requirements of resources in launching new strategies.............................94.3 Evaluating the importance of smart targets in achieving strategic objectives................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONBusiness strategy is the process of implementing new decision which helps the firm toachieve its long term objectives. It also specifies the mission, vision, policies, strategies for theorganisation to regulate well functioning of these objectives. Aldi is retail industry founded byKarl and Theo Albrecht. It is supermarket chain and has 10,000 stores in different countries. Theorganisation has 3.6% share in grocery and overall turnover is €50 billion. In this case, mission,vision and goals of Aldi are defined (Al-Deen and Hendricks, 2013). Further, analysis of thefactors which affect strategies plans are studied. Analysis of macro and micro environmentfactors and importance of stakeholders in new strategies are assessed. Moreover, theappropriateness of suitable strategies in organisational progress and its justification for enteringthe new market is given. Role and responsibilities of the personnel are defined and analysis ofresources required for implementing new strategies are discussed. Moreover, evaluation of smarttargets for the achievement of strategic objectives are studied.Task 11.1 Missions, visions, objectives, goals and strategic planning of Aldi'sMissionAldi will give its participation in creation of environment for its consumers that wouldlead to improvement of society with economic independent citizens.VisionThe lesson that life teaches us that one need to work hard in order to make our dreams come true.The previously made goals have been achieved but still there are lot of work that has to be doneto make lives of its consumers better (Rialp-Criado and Komochkova, 2017).Objective and Goal of AldiThe main goal of Aldi is to provide the consumers with some range of good quality products atsensible prices. They want that there share should modify in the UK market. Customers loyalty isthe focus of the Aldi. The concentration is on marketing activity that would boost consumerswho are familiar with the shopping at Aldi. They provide consistency that would renderresponsibility. They are reconciled in dealings with people,product and day to day work ofworkplace. They offer responsibility towards customers by including principles such as honesty,friendliness etc(Bak and Jordan, 2017).Aldi core competencies1
The core competency of Aldi is that its focus is on the price. Various methods that Aldiundertake to ensure the price. These are as follows-:Brand Focus-:Website of Aldi provides information that their main work is on their own brandsso that they are not dependent, also helping them to avoid high costs that are related to otherbrands and gives the privilege to set their own prices on products.Cost of labour is low-:They do not posses more number of staff. But they provide a good salaryto them. They do not provide carry bags.It is essential that mission, vision, objectives and goals of the firm should be consideredfor making the strategic plan for the business. 1.2 Analysing the factors that Aldi consider while formulating their strategic planThere are various factors that Aldi can take into consideration to remain competitive in themarketplace and they are as follows-:Political Number of factors that are influenced by Aldi for operating in worldwide marketincludes European Union (EU).The decisions given by the government gets affected in abusiness, a particular business must follow all the legislation laws. The EU and UK had someissues related to laws of policies with the UK prohibiting restrictive activities regardless its effect2Illustration 1: PESTLE analysis(Source: Teh, I., 2016)
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Business Strategy Report - Aldilg...
|17
|5270
|36
Strategic Planning for Businesslg...
|18
|6236
|71
(BS)Business Strategy Assignment: ALDIlg...
|18
|5828
|150
Business Strategy of Supermarket Aldi : Reportlg...
|21
|6210
|46
Report on Business Strategies of Aldi companylg...
|14
|4454
|32
Report on Business Strategy of ALDI company - doclg...
|23
|7184
|49