Business Strategy of Vodafone Doc
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Added on 2020-07-22
Business Strategy of Vodafone Doc
Added on 2020-07-22
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Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Evaluating the impact of macro environment on an business organization......................1TASK 2............................................................................................................................................4P2 Internal environment and its capabilities of an company..................................................4TASK 3............................................................................................................................................8P3 Porters five forces..............................................................................................................8TASK 4..........................................................................................................................................10P4 Implementing Concepts, Theories and Models to help with interpretation andunderstanding of strategic plan.............................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness strategy is a type of plan through which a company can operate its activities in asystematic manner. It helps a company in achieving targeted goals and objectives in a givenperiod of time. But to formulate such strategies and policies, managers of a firm are needed toanalyse whole market situation and its position in terms of competition (Ackermann andAudretsch, 2013). It would help in building effective strategies and executing them in a properway so that an enterprise can gain high return on investment. In order to see importance of suchtype of business strategies, a company of UK Vodafone has been take in this report. It has madea discussion on developing policies and strategical rules by analysing position of enterprisethrough PESTLE and SWOT technique. Along with this, impact of micro and macro factors onbusiness environment also described in this project. TASK 1P1 Evaluating the impact of macro environment on an business organizationFunctions of a business are so much effected by factors present in internal and externalenvironment. It includes political laws, changes in technology, economical fluctuation, numberof competitors, business ethics and more. Therefore, management of an association needs toanalyse these attributes in a proper way which would impact on business profitability and overallperformance in both negative and positive way (Alsoboa and Aldehayyat, 2013). In contextwith, Vodafone impact of macro environment on its functional activities are explaining below:- PESTLE ANALYSISSome important factors of macro environment which impact on functions of ... in an externalmanner are discussed below: Political: Every country has its own political rules and regulations which are made by itsregulatory bodies. These laws are amendable for all companies which are working under itsterritories. Apart from this, such type of regulations are affected much when enterprises areoperating businesses on international level. It generates so much complexities when a firmintroduces globalisation in businesses as this process requires to follow all rules of governmentin which it want to sell products. In context with Vodafone, some major benefits and drawbacksof political factors are: 1
Strengths: Following all rules and regulation helps an organisation in selling its productsor services easily in international market. It would help in increasing profitability andsales performance also. Weaknesses: Strict laws of some countries create various barriers in taking business onglobal level. In order to cope up with such problems, it is essential for association to buildstrong strategies and make appropriate decisions in business before selling commoditiesin international market. Economic: This factor creates a great impact on profitability of a firm. It includesinflation and deflation period, fluctuation in currency rates, changes in interest rates and more.These alterations help in enhancing the internal strengths as well as increase weaknesses also. Inaddition to this, trading laws made by government also effect on export and import businesswithin two countries or states like heavy excise duty, tax policies and more. In terms of Bentley,Omer and Sharp, (2013) impact of economical factor on business operations can be seen asbelow:-Strengths: In inflation period, economy of a country hikes which increases thepurchasing power of people. So, they used to buy more and more products in order tosatisfy own needs. It would help enterprises in increasing sales performance.Weaknesses: Since in inflation period economy becomes stable but in this process,companies used to sale their commodities on high rate. So, people used to switch mindsand looks out on similar products which are available on less price as compared to others.Thus, it weakens the sale performance of a firm in such a manner. Socio-Cultural: This factor forces a firm to create modifications and provide a widerange of products on different prices rates. But before making any type of alteration, it isnecessary for enterprises to identify demand of customers, their needs, current trend formarketplace and more. Further, make some strategies in order to manufacture or serve goodquality of products as per requirement of consumers. This would help people in satisfying desiresand assist them to retain with such associations. Socio-Cultural factor also forces firm to bringethical culture in their business. In this process, managers of Vodafone are needed to buildeffective strategies and policies by focusing more on providing benefits to employees. It will aidfirms in getting retention of workers and get right work of them.2
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