Business Strategy in Ernst & Young

This report discusses the business strategy of Ernst & Young, including PESTLE analysis, SWOT analysis, McKinsey's 7S framework, Porter's Five Forces Model, Ansoff Matrix, and more. It evaluates the impact of macro environment on E&Y and its business strategies.

Business
Strategy of Ernest
And Young.

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................2
Activity 1.........................................................................................................................................2
1.1. Discuss the Application framework to analyse influence of macro environment................2
Include a diagram of the PESTLE of Ernst & Young.................................................................2
Using PESTLE, critically analyse the impact and influence of the macro environment, on
Ernst & Young (E&Y) and its business strategies.......................................................................2
1.2. Organisation Audit................................................................................................................5
Explain briefly about what is Swot analysis................................................................................5
Using SWOT, critically analyse the impact and influence of the macro environment on Ernst
& Young (E&Y) and its business strategies................................................................................6
Activity 2.........................................................................................................................................9
What do you understand by strategic capabilities?......................................................................9
Identify the key components of strategic capabilities..................................................................9
Analysis the strategic capabilities of Ernest and Young by using VRIO Analysis...................10
Explain the McKinsey’s 7S framework.....................................................................................11
Include a Diagram......................................................................................................................12
Conduct a critical Evaluation of the internal environment using The McKinsey 7-S Framework
...................................................................................................................................................12
Activity 3.......................................................................................................................................13
Explain the Porter’s Five Forces Model....................................................................................13
Include a diagram......................................................................................................................14
Produce an industry analysis for Ernst & Young (E&Y) using Porter’s Five Forces model....14
Explain the Ansoff Matrix.........................................................................................................15
Include a diagram for Ernst & Young (E&Y)...........................................................................16
Apply the Ansoff Matrix to devise appropriate product/market strategy for Ernst & Young
(E&Y)........................................................................................................................................16
Activity 4.......................................................................................................................................17
Explain Porter’s generic strategies............................................................................................17

Apply the Porter’s strategy and Bowman’s Strategy Clock to devise strategic
planning/strategic directions for Ernst & Young (E&Y)...........................................................17
What is a strategic management plan?.......................................................................................19
Explain how this Strategic Plan will be used to implement the recommended strategies in
Activity......................................................................................................................................19
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22

INTRODUCTION
Business Strategy is a set of effective competitive moves and actions that business could
generates could use in better format to attract customers, enhancing performance, implement
tactics to attain better competitive advantages to organisational goals. This mainly outlines about
how business should be carried out for effective desired ends. It further explain about master
plan which is implemented through an individual so that high competitive positions can be
accomplished within marketplace (Kumar Mangla. and Goyal, 2021). This also creates more
better vision and direction for the whole organisation. It is important that all people within
company where it has clear about goals and objectives. In this report, the company has selected
Ernst and Young which is global and multinational business which provide service network
within network through headquarter in London, England. Ernst and Young is also one of largest
professional services network within world along with Deloitte, KPMG and PWC. As the topics
are highlight in following report different critical frameworks to acknowledge macro
environment is discussed. Internal capabilities and environment of organisation is acknowledged
along with evaluation through Porter's five forces. At last, different models, concepts and
theories to understand strategic directions are stated.
MAIN BODY.
Activity 1
1.1. Discuss the Application framework to analyse influence of macro environment.
Macro Environment: It is form of an organisation that is related within external and internal
factors which creates high influence through better working to decision making of company.
Furthermore, these elements within have impact on better strategies where firm have competency
to undertake risk and opportunities driven flow.
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Include a diagram of the PESTLE of Ernst & Young
Figure 1: Pestle Analysis, 2020.
Source: https://www.istockphoto.com/vector/pestel-analysis-gm1264040171-370105318.
Pestle analysis: It is critical framework to better analyse about effective key factors such as
Political, Economic, Technology, Social, Environment and legal. These factor would better
influence through an organisation from outside (https://www.case48.com/pestel-analysis/13683-
EY., 2020). In following there is detailed pestle analysis regarding with Ernest and Young
company.
Using PESTLE, critically analyse the impact and influence of the macro environment, on Ernst
& Young (E&Y) and its business strategies
 Political: According to this factor it better reflect about political environment about
specific country, it influences about strategies and tactics that is adopted by the company.
As the UK political condition is quite stable in terms foreign exchange policy (Yuan., Lu
and Yu., 2020). Thye conducting pestle analysis the political impact to Ernest and Young
exert a strong better influence and long term sustainability and profitability of Ernest and
Young. As the major influence which EY need to consider about political chaos where it
derives about investors and harms effective stakeholder trust in economic and effective
conquest to mapping organisational culture. Currently, Ernest and Young is having its
existence in different countries where each branch of company having its own political
challenges. Through growing tensions and instabilities within global political
environment can affect the better gold industry growth limit growth opportunities
available through EY (Farrukh and Nawaz., 2020). The basic challenges which can face
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through Ernest and Young that is frequently changing of Policies by government by
increasing environmental uncernity.
 Economical: These factors reflects the overall performance of nation that is related
towards economic grounds in broader sense. The overall growth is context towards better
electric vehicle market is expected to reach more $1.5 millions dollars. The impact of
important for EY to understand economic factors such as forgien exchange interest rate,
labour market conditions, inflation, recession or saving rates. All these factors of
economic is enhance more development of country. It is detailed understanding of the
economic environment can help Ernest and Young. It estimate the growth of industry
and organisation. Growing economics offer wide range of growth opportunities to Ernest
and Young company. Similarly, it is important about better understand towards industry
life cycle to enhance better growth. Entering the mature industries can be more mature
industries that creates more challenging as per market situation aspect. As the well
developed infrastructure facilitates about the business environment which better increases
the effective growth.
 Social: This factor consists about effective in analysing the impact which the social
aspects imply upon an organisation. As the company can their product and services to
approach by follow Demographic and Geographic factors such as Age, Gender, Income
basis and other factors. In perspective of Ernest and Young company the impact of social
factor as positive factor through using demographic trend, this would flexible way to
approach people based on aging population, migration of trend and socio economic
variables have parameters. It enhances importance of international business organisation.
For more customer interaction and product and services EY need to choose right and
potential market. Further, it is also important for EY to understand people’s attitude and
behaviour towards migration and this can be influence firm ability (Liu and Kong, 2021).
There can be negative impact of social factor towards EY if their products are not
productive enough people can change their preferences time to time. Through gender
roles Ernest And Young must study traditionally which better assigned gender roles to
align its marketing and communication practises accordingly. Marketing and human
resources strategies are addressed as on traditionally which easily distinguish the society
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on the basis of gender roles with different stereotypes. For this, EY need to make strategy
to promote their product through online platform.
 Technological: In this overall technology advancement and innovation factors are plays
an important role in this. The scope of technology is quite effective or productive in UK
when it comes to Smart and advanced resources. As the technology environment can help
EY to better capture the technology trends to accomplish business advantages. EY needs
to follow technology advancement as it changes on time to time. Artificial intelligence
has creates positive impact on environment where it changes the standards of resources
into another level. The impact of Technology is different online platforms where EY can
easily commence their business to target people for their product and services. Social
media marketing can be good business strategy, as it allows different social media
platforms such as Instagram, Facebook, YouTube on which Company can easily trade
and interact as many audience. EY can also take leverage the opportunities that offered
by the social media marketing to effective channelize business performance within better
competitive market.
 Environment: According to this factor, the elements which are associated with
environment of the market which the firm usually deals. The environment factor that
major influence to EY recycling and waste management. In this, growing of environment
pollution which is better coupled with the technology advancement which has been
compelled through business organisation to better adopt innovative recycling and waste
management practises. The EY is adopting the effective waste management practises
organisational units is located within the near urban areas highly crucial for EY. Through
Renewable changes of technologies EY can get a benefit by investing certain capital in
renewable technologies that ensure long term sustainability. Through this practice, the
investment will also increase stakeholder satisfaction and expand the better customer
base to better brand image in competitive advantages.
 Legal: This factor is determine the legal aspects which involves rules and regulations that
govern by policies and procedures of an organisation. In terms of EY, there are some
legal laws that can impact on its business. Employee Protection laws must follows by EY
as because it indicates about the health and safety laws as some of the countries enhance
strict regulation to better ensure about the labor safety (Ali. and Anwar., 2021). The
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management team of EY assure to provide positive working environment for the
workforce could increase ethical and moral obligation for EY. Similarly, Anti-
discrimination laws also need to be carefully situated when developing human practises.
Another important law for EY that can impact positive behaviour is Intellectual Property
laws are designed to protect the company assets and patents which consist valuable ideas.
The inability to protect the intellectual property right can result of loosing effective
competitive advantages.
Evaluation
The above Pestle analysis for EY is summarises about six different factors that create
positive and negative influence while conducting business into another region. As many
challenges and opportunities driven where company can easily reduce risk by implement
strategies effectively. For EY company, the positive factor of Pestle determines the
Technological factor. In the UK, there are different types of technology advancement through
which EY business can optimise their business outcomes. The negative factor can be Economic
factor because inflation and recession fluctuate the market through it decrease the sustainability
the company and increase the high competition level in competitive marketplace.
1.2. Organisation Audit.
Explain briefly about what is Swot analysis.
According to this framework of Swot analysis creates strength, weakness and opportunities
and threats. It is terms as techniques for assessing about these four impact of business Swot
Analysis where it driven simple tools that can helps to effectively analyse about how company
does best right job effectively. Through conducting SWOT analysis also help to better
understand about internal and external competitive abilities of specific company effectively.
Thus, SWOT is a one of powerful tool that mobilise and develop the business strategies for
better start up firm as well as toward existing company
(https://www.case48.com/swot-analysis/13683-EY).
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Figure 2: Swot Analysis, 2020.
Source: https://medium.com/thrive-global/how-to-complete-a-personal-swot-analysis-
2f8769aebd5e.
.
Using SWOT, critically analyse the impact and influence of the macro environment on Ernst &
Young (E&Y) and its business strategies
Strength Weakness
 The geographical existence in different
regions that can act to one of major
strength of the organisation. This
determines the EY business where they
can reach to the target market and
ensures about easy accessibility.
 EY has a wide range of product
portfolios that allow the organization to
effectively expand business to offset
the losses from one product category
with better benefits from others.
 Strong online presence on different
 In this administration can draw the
criticism from the environment for its
poor waste management practises. It is
inability to integrate sustainability in
effective business operation.
 EY can loose efficiency due to poor and
unbalanced inventory management. As
the shortage or excessive inventory can
either result into.
 Through insufficient budget for
marketing promotion activities, the firm
can expand towards customer base and
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social networking sites and the
marketing team of EY constantly keeps
themselves updated on the online
platform to interact with customers and
map product score (Verbeke and Yuan,
2021). EY digital marketing practises is
quite effective.
 EY has strong and effective financial
position and health can allows the firm
to make easy further investment for
long term sustainability aspects.
 There is well developed and efficiency
integrated IT infrastructure can improve
about effective operational efficiency
and increase better knowledge of the
latest market trends.
 EY implement different intellectual
property right which helps to authorised
to protect their ideas and product
patents which they offers uniquely
within competitive market.
encourage repeat purchase.
 There is high job stress and constant
low workers moral makes the
workforce less productive.
Opportunities Threats.
 The exponential growth within the
population and EY can approach the
potential customer for their great
growth opportunity of business
organisation.
 Through changing of customer needs,
tastes and preferences that can act
opportunity within business
organisation.
 By changing a regulatory framework
and introduction, a ne sticker regulation
imposes a major threat to EY. It makes
compliance with legal standards within
more complex and having to challenge
for the business organisation.
 The increasing number of direct
competitors affect the organisation
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 There is a online platform opportunity
where EY can easily promote and
advertise their products to different
demographic audiences.
 The emergence of E-commerce and
social media marketing as a trend
which can easily raise the great
opportunity for EY. If this is EY that
can ensure strong online platform
through different social networking
sites.
 The new market segments and new
social media marketing trend are great
opportunity for EY where it ensures
strong online presence on different
social networking sites.
 Customer are fluctuates their
preferences according to the changing
of market trend. This can be advantage
for EY company to generate more
profitability.
ability to sustain and expand the
customer base. For example: Deloitte,
 The rise of inflation and recession
could raise more challenges for EY
business in competitive market to
sustain.
 The growing environmental
sustainability trends highlight major
threats when offered products and
services are not very environmentally
friendly (Wardana, Giantari and
Rahyuda., 2020). It draws negatively
publicity and criticism from the
environmental also affect brand image
of competitive market.
 The globalisation drives within the
organisation to cross national
boundaries and deal within better
cultural diversity which may have
determental if the organisation lack the
culture intelligence.
On the basis of above Swot Analysation, it mainly explains about strength, weakness,
opportunities and threats for EY company. As the overall evaluation is concluded that weakness
and threats are highly influence that can decrease the company's productivity level in the
competitive market. Some strategies recommend to EY, where they can overcome and increase
their productivity level in the market. Effective training and development practises can increase
the efficiency of employees. They need to improve their online business that would help to better
sustain in competitive marketplace. EY marketing team need productive and pricing related
strategy that helps to easily mitigate the risk factor from competitors.
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Activity 2.
What do you understand by strategic capabilities?
It defines the business ability of harness overall skills, competence and resources in order
to gain better competitive advantages. Further it also explain about company strengths where the
people, resources, skills and other factors creates more strategic business uses. This focuses on
its organisation assets, resources and market position.
Identify the key components of strategic capabilities.
The main components of strategic capabilities which is address in perspective of Ernest
and Young company:
 Ability to compete: According to this component, it refers about ability of harness of its
skills, capabilities and resources in order to gain competitive advantages and also
increase the value of over time. At the time of strategic capability does not take strategies
of better business use. This determines on the organisation assets, resources and market
position, projection how well it will be able to employ strategies in the future. There is no
single method or universal metrics for measuring or noting strategic capabilities.
 Identify about the critical competencies: There are many elements which can
potentially contribute to business related strategic capability. The assets such as cash,
property and patent and contribute towards the business ability with better employee
strategies. Other elements include human resources and organisation structure, since
skills and leadership mechanism all contribute to business competitiveness.
 Strategic value Analysis: To Assessing strategic capability is a complex success process.
In part because of the number of factors it must address (Nadanyiova. and Das, 2020).
This process of evaluating a business strategic capability is known as strategic value
analysis. It relies on data from annual reports through public and market trends to
determine which business in given industry have strategic capability (Dennis Hartman.,
2019. https://smallbusiness.chron.com/strategic-thinking-important-success-business-
4661.html)
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Analysis the strategic capabilities of Ernest and Young by using VRIO Analysis.
Figure 3: Vrio Analysis, 2020.
Source: https://strategicmanagementinsight.com/tools/vrio/.
VRIO Analysis: This is analytical tool or technique about Brilliant for the evaluation of company
resources and thus better competitive advantages. It is acronym from the initial of the names of
evaluation dimension. Such as Value, Rareness, Imitability, Organisation. In following there is
explanation about VRIO analysis in perspective of Ernest and Young:
RESOURCES VALUABLE RARE INIMITABLE ORGANISABLE
Human resource Yes Yes Yes Yes
Brand Image Yes Yes No No
Manufacturing
Capacity
Yes Yes No Yes
Innovation
Capabilities
Yes Yes Yes No
Market Position Yes Yes No No
Evaluation
Human Resource: This factor is very important part for Ernest and Young where human
resources management is help to recruiting and selecting the candidates. Some of other practises
such as training and development to enhance the each employee efficiency increases. It is
sustainable competitive advantage as it covers all VRIO elements. This resource of the
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organization is valuable as well as rare along with being inimitable in nature. In addition to this,
the resource is organisable which helps in gain in competitive advantage in the market.
Brand Image: It is a prominent part of every business aspect that allows the actual image in
competitive market place. The brand image of Ernest and Young is very important and it is
consider as valuable and rare but it is not consider as imitable and organised. The reason that not
covering imitable and organised because many competitors are there in market such as PWC,
Delolite etc. In addition to this, the resource is not organisable as the brand image of the
organization can change due to various internal and external environmental factors and influence
the competitive position of the business.
Manufacturing Capacity: This is mainly depicts how the quality of manufacturing creates more
developed the product and services (Ciampi, Marzi and Faraoni, 2020). As it is considered that
manufacturing capacity is consists valuable, rare and organised but not imitable. The reason of
not imitable as the workforces and services quality which they are provided to customer are
unique and other competitors not have that kind of productivity. Although the manufacturing
capacity of the organization is not imitable along with organisable as it can be achieve by other
competitive organizations as well which impacts the overall competitive position of the business
and its operations.
Innovation capability: The innovation plays an important role in business as it generate new
business ideas and creativity which enhance more positive base of outcomes. In above VRIO
analysis the innovation capability of Ernest and Young is valuable, rare and imitable. But it is not
organised as because innovation usually changes as per time to time. This resource is although
not organisable as the aspect of innovation is dynamic and can be achieved by other organization
in and effective manner through their research and development.
Market Position: It is consider as the valuable and rare but not imitable and organised because
there is strong competition happing within Ernest and Young competition in competitive market
where the sustainability of Ernest and Young is quite fluctuates.
Explain the McKinsey’s 7S framework.
McKinsey’s is a framework where the tools is generally helps in analysing the better
organisational plan or design to firm with better identifying better key internal components.
These are the main components are needed to be aligned and detailed explain about proper
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organisation specification. In following there is explanation of Ernest and Young to obtain gaols
and objectives. Some of the components are mentioned below:
Include a Diagram
Figure 4: Mckinsey 7s Framework., 2019.
Source: https://www.calltheone.com/en/consultants/7s-model.
Conduct a critical Evaluation of the internal environment using The McKinsey 7-S Framework
 Strategy: It is a plan where every individual business creates to attain more competitive
advantages or profitability from market. As EY is also multinational company to need
long sustainability their team also make strategy to promote their product and services
and also reduce the risk factor from market.
 Structure: It depicts about the manner in which business where the units and divisions
are organised to share the information within each other (Liu, Chou,. and Huang, 2020).
In perspective of EY, they have inappropriate structure or they must need to follow
certain structure method to gain more competitive advantages.
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 Systems: This process depicts that company follows some system on which decision
making and activities are totally depend upon it. For EY, system need to implement to
maintain overall work process and other activities to change organisation.
 Skills: This involves competences and capabilities of employees in EY while performing
in task. As EY employees are skilled as well manager are provide training and
development to expect productive outcomes.
 Style: This refer about the employees behave as per the manager or their supervisor
guidelines to interact with employees. In Ernest and Young used participative style used
to make positive and friendly working environment.
 Staff: It is elements is related with the type and number of employees which are working
in Ernest and Young. It involves about the manner to specify requires employees are
hired, trained and rewarded on the basis of their performance
 Shared Values: This is last step of McKinsey model where it includes the standard and
norms which guides the action of organisation like Ernest and Young behaviour of
employees in a proper manner.
Activity 3.
Explain the Porter’s Five Forces Model
This five forces model is encompasses to identifies and measure major five competiveness
forces that every industry and better help to determine an industry’s weakness and strength. It is
used to mainly identify the industry base structure to determine corporate strategy. This model is
specify the level of competition within the industry and enhance the company towards long term
profitability.
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Include a diagram
Figure 5: Porter Five forces, 2020.
Source: https://www.case48.com/porter-analysis/13683-EY
Produce an industry analysis for Ernst & Young (E&Y) using Porter’s Five Forces model
Threat of new entrants: This reflect about how new market is having competitive threats to the
existing market players (Yang, 2021). If the industry is gaining more profit then the threat is low
but if the industry is not earning optimum profitable then there is high threat of new entrant. For
Ernest and Young is having high threats as small consultancy and distribution of networking
companies enters in UK as well as global level.
Bargaining power of suppliers: This model reflect the pressure exerted by suppliers on
business through better adopting innovative ideas or strategies which reduce the product
availability. There is High bargaining power of suppliers as the organisation has to ensure that is
is able to attain high quality raw material from a reliable source. This results in the power of
supplier increasing and impacts the operation of the business.
Bargaining power of buyers: It is indicates about the pressure that customers exert on the
business organisation to get high quality of control product and affordable prices with customer
services. The bargaining power of Buyers is High for the organization as there are various
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substitute products in the market. This results in increase in the price of product in the market
decreasing the leverage of the organization on customers.
Threat of substitutes: According to this factor, the availability of substitute of product or
services makes the competitive environment that challenging for EY and other existing players.
For EY, there is High threat of substitute as because there are some economic price of similar
product and services from other small industries or the specific substitute product is providing
quality and performance which as offered EY product.
Rivalry among existing competitors: This factor existing firm having the number of
competitors are present in market. As EY is having high competitor are present that raise the
competition which increase the potential growth potential.
Evaluation:
From above the Porter five forces model, it summarises about different factor model
which there are three high threats for Ernest and Young. Threat of new entrant, Threat of
Substitutes and Competitive rivalry these are the main factors on which companies need strategy
to overcome. To reduce the new entrant and substitute EY team to make sure their product
quality that satisfy their customer (Saputra and Rahmatia., 2021). For high competitiveness in
market place EY need to change their pricing strategies as well as they need to approach online
business platform.
Explain the Ansoff Matrix
This model is called the product and market expansion grid. It is the tool utilised of firm to
analyse plan for their strategies for better growth. According to this matrix it consists about four
strategies factor Market development, Product development, Market penteration and
Diversification to analyse the strategy.
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Include a diagram for Ernst & Young (E&Y)
Figure 6:Ansoff Matrix
Source: https://www.smartinsights.com/marketing-planning/create-a-marketing-plan/ansoff-
model/.
Apply the Ansoff Matrix to devise appropriate product/market strategy for Ernst & Young
(E&Y).
 Market Penetration: This direction is inclusive of selling existing product in existing
market. To more ensure the effectiveness, the firm must used the marketing method tool
such as digital marketing and social media which influenced by marketing of company
and its offering. As EY is having their existing professional networking services in
existing market place and they are using social media marketing strategy.
 Product Development: Within this strategy, it depicts to selling of new product in
existing market. As it has one draw back of this strategy to use frequent product
development with very much effective. In perspective of EY they can creates better
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product and services to competitiveness advantages by implement better raw material. On
the other hand, an advantage of this strategy is that the company would be able to
differentiate itself from other companies, hence, ensuring a higher and more effective
customer base within the future.
 Market development: This strategy define that selling of existing product in new market
where it regulates new existing product. This could provide the organisation with an
opportunity in context of enhancing its global presence of vehicles for new market and
customer better group of networking business activities. However, one of the most not
look forward to aspect in this approach that, it gets very much difficult for an
organisation to find a foreign market where the trends and preferences of the customers
gets in alignment with the company's products and existing strategies.
 Diversification: In this strategy, the organisation appropriately produces and sell new
product within and discovered market around the globe. It means that firm is
systematically analyse the new market trend and requirement of customer through which
they would construct new plan to diversified and better attain competitive advantage.
Evaluation:
From above the Ansoff Matrix is helps to analyse to better detailed summarise that
Product Development would be suitable strategy to EY. As they can mitigate the challenges or
risk factor which they better determines to attain competitive advantages.
Activity 4.
Explain Porter’s generic strategies.
The porter generic strategy is structure that helps to identifies about the way of which they can
attain through better competitive advantages within the market places. In general, there are some
of strategies on which company can adopt and easily identify the right way to accomplish goals.
Apply the Porter’s strategy and Bowman’s Strategy Clock to devise strategic planning/strategic
directions for Ernst & Young (E&Y)
Porter Generic Strategy for EY:
 Cost leadership: In this strategy it derives about price is main element for customer while
they decide about product to purchase. According to this strategy, they can attain more
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better way to product and services manufacture in less price. Further, EY can also
implement certain discount and offer to customer to attain better competitive advantage.
 Differentiation: This strategy, the company mainly offers to provide new innovative
product and services to their customer. Through this they can differentiate from other
company on the basis of quality (Bhattacharya and Pal, 2021). Similarly., there is a high
competition for EY where customer are use to differentiate their product quality with
other competitive rivalry.
 Focus: This strategy involves two aspects that means cost focus and differentiation focus.
In case of cost focus, EY will be required to provide those product in less price so that
maximum people would interest to buy that product.
Bowmen Clockwise strategy
This strategy define about model which help a business organisation in exploring
systematic positioning. It is the way of EY can position of their product so that high advantages
overall rival companies can better accomplished in proper manner. Aspects related with this
framework are mentioned below:
 Low price and Low added value: This is one of less competitive position for EY where
their product can differentiated through customer perspective less value product if price
will be less. In addition to this, for the strategy to be effective the organization will have
to keep its prices of products lower than their competitors in the market.
 Low price: In this aspect, EY can having position itself as low cost leaders in market by
using of cost reduces techniques. Therefore, profit for each product will be low but due to
high sales of volume, overall will be more. This will allows the business to undercut its
competition and effectively gain competitive advantage in the market.
 Hybrid: This strategy includes the elements of implies low price and netter product
differentiation. According to selecting this positioning strategy to gain more positive
strategy.
 Differentiation: Through this strategy, EY is required to determine on providing
innovative offering new innovative products and services.
 Focused Differentiation: This strategy, product are associated with high level price to
consumer where they can purchase product by implement new innovative raw material.
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 Risk high margins: Through this strategy, the company can face high risk of inflation,
recession and high competition in competitive marketplace.
 Monopoly pricing: In market monopoly, only one business offer the product where in
this strategy a individual business increase the competition by raising of pricing by
innovative specification.
 Loss of market shares: This strategic market position can be disaster for the competitive
market. The reason is behind the using of this product within middle range of pricing
decided. .
What is a strategic management plan?
Strategic Management plan is used to communicate within organisation member where
manager would decides to set priorities, focus on objectives. All these factors are plays an
important role to compete in competitive market place. As for EY their marketing and other team
members are planning to bring new Online Digital Investment business for local, existing and
new audiences
Explain how this Strategic Plan will be used to implement the recommended strategies in
Activity
Mission: The mission statement of Ernst and Young is having purpose to building a better
working world. The insight of quality services where they provide help to build trust and
confidence in the capital market and economics through world over.
Vision: Their vision is to determine on provision about work provision where employees
generate their positive work outcomes effective manner for upcoming future.
Values: The values of Ernst and Young are considered are:
 People who effectively demonstrate about better integrity with respect and
coordinate with others.
 High competency and positive mind set can allows high courage to leads.
 People who better build relationship which is based on doing right things.
Objectives: The reason of planning new Online Digital Investment to generate business
through online platform where customer can increase their wealth by earn money through
trading.
Tactics: This business plan is to create better Online Digital Investment through EY official
website. The tactics which used for making long term benefits to promote trading business in
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online platform (Ho and Wang., 2020). By using social media marketing tool to promote this
digital investment plan to attain competitive advantages.
Some of the important plans which undertaken by EY for planning to bring New Online Digital
Investment on EY’s website.
Aim Objectives Resources
required.
Allocation
of responsibility
Target
dates
Deviation diagnosis
and
corrective
action dates
1) To increase
the wealth of
customer.
Provide the
proper
informatio
n about
financial
investment
business
plan
Through EY
financial experts
Around of
2-3 months
To provide support the
customers to gain more
positive outcomes.
2) Customer
can check
their
credibility
score
For this EY
can
provide
official
application
that must
ensure to
provide all
finance and
market
related
informatio
n wealth.
By EY finance
online
application.
For more
than one
month
This is allows more
better business
opportunity for customer
to provide corrective
guidance by financial
experts.
20

CONCLUSION
Based on above summarised report of Business Strategy has adopting systematic implement of
business strategies as it is not possible for business organisation. By using Pestle analysis to
exmines about challenges and opportunities within external environment on which business can
trade their business effectively. Swot Analysis, Ansoff Matrix, stakeholder analysis which
generate more business benefits environment. . By using Porter's five forces, a company can
acknowledge their competitive edge in market. By using different theories, frameworks and
models like Bowman strategy, porter's generic strategy, a company can implement right strategic
planning for themselves.
21

REFERENCES
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