Group Presentation Assessment for Morrisons: Strategy, COVID-19 and Brexit
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This presentation assesses the current strategy of Morrisons using relevant theory, reviews the UK supermarket industry, explains how COVID-19 and Brexit have influenced their strategy, and provides recommendations for their next steps.
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Table of content Introduction Identifying and reviewing the current strategy using relevant theory Identifying and reviewing the UK supermarket Explain how COVID and BREXIT have influenced their strategy Recommendations to adopt BREXIT and COVID along with next steps for their strategy Conclusion References
INTRODUCTION Business is defined as the enterprising entity which is engaged in various activities lie commercial, professional and industrial for the purpose of earning profits. It is also described as the entity which put various efforts and activities for produce products and service as well as sell them to customers for the purpose of generating profits. Strategy is defined as the actions that are developed by the managers of organisation to attain business goals and objectives on time with great efficiency.
Identifying and reviewing the current strategy using relevant theory Strategy:Strategies are defined as the actions and activities that are developed by the manager or organisation for the purpose of attaining organisation goals and objectives in efficient manner (Guo,Li, and Li,2021). It provides general direction to business for attaining desired outcome. Introduction of organisation:In this report chosen organisation is Morrisons which is fourth largest supermarket chain of United Kingdom. Mission of Morrison:Mission of Morrison is to utilise experience and bring innovation in designing for providing flexible as well as responsive solutions to the packaging industry.
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Porter’s generic strategy It is defined as the strategies that describes how organisation gain competitive advantages in specific market place. There are three strategies are included in this model that are used by theorganisationformaintainingeffectivepositioningin marketplacethanothercompetitors. Thesestrategiesare mentioned below: Cost leadership strategy Differentiation Focus strategy
Identifying and reviewing the UK supermarket Supermarket is defined as the large store operated on the bases of self-service that deals in grocery products such as bakery,meatanddairyproducts.InUnitedKingdom varioussupermarketsareoperated,butbigfour supermarketsdominatedthehighermarketshareand customers. These four supermarkets are Tesco, Sainsbury, Asda and Morrisons. Morrisons is the organisation which is announced as ‘Supermarket Of The Year 2021.
Porter’s value chain model Porter’s value chain model is defined as the collection of process that are performed by the organisation for the purpose of creating value for its consumers. it helps business to gain competitive advantages in market than other competitors. Primary activities: Inbound logistics Operations Marketing and sales Outbound logistics Secondary activities: Procurement Human resource management Technological development
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Explain how COVID and BREXIT have influenced their strategy Brexit and COVID - 19 are two fundamental issues that are related to the planned to have a negative impact on the United Kingdom economy as a whole. Brexit has affected and will continue to have an impact on most of the sectors that will depends upon cross border trade with the EU. Aspects of COVID and BREXIT are related to their industry and strategy:The UK agreement with the EU is term to be an effective agreement that it might not be have an effective change on the industry (Kohnert, 2021).
Influences the potential success of their strategy PESTELanalysisisusedtoidentifythethreatsand vulnerabilities that are utilised in SWOT analysis. Political Economic Social Technological Environmental Legal
Recommendations to adopt BREXIT and COVID along with next steps for their strategy There are various planned and unplanned changes are happened in businessthatimpactsoverallperformanceandfunctionalityof organisation. Morrison develop strong and effective strategies that helpbusinesstoadoptthesechangesinefficientmannerand maintainseffectivepositioninginmarketwherenumberof competitors are exist. Shifting consumer shopping habits Technology Maintain strong supply chain network
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Supermarket’s priorities and goals be to support their success Morrison is a diverse manner of group that deals with various businesses with suitable journey to becoming an effective and leading organisation. It is combined with several good group purpose that are created in better experience for having better tomorrow (Currie, and et.al., 2021). How should they be integrated into the organization? Organisationalintegrationisattainedwhenmanagerialtargetsare combinedamongtheexternalandinternalimpact.Managerialalignment promotes coordination and group work as a cross or field of task in terms of internal manner in the business.
Include the advantages and limitations of your analysis The management are growing in the field of market due to its maximizing globalisation digitisation process. As it is important for the brand to setup strong global presence for getting highly competitive advantages for further in an effective and efficient manner (Dobbs, and Stefan, 2021). What are the strategy concepts strengths and limitations Major strength of strategies in context to the Morrison which relates to the food making abilities with an effective distribution network and a potential supply chain.
CONCLUSION As per above presentation, it can be concluded that in business various strategiesaredevelopedthathelpbusinesstoattaindeterminedgoalsand objectives in efficient manner. In competitive business environment, intense competition is faced by the organisation, so it becomes important to develop effective strategies and policies. Business implements various frameworks and models to access various internal and external factors.
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REFERENCES Abbasi, K., 2021. Covid-19: Cummings, Johnson, Hancock, and a maelstrom of avoidable harm. Andreosso-O'Callaghan, B., Moon, W. and Sohn, W. eds., 2021. Economic Policy and the Covid-19 Crisis: The Macroeconomic Response in the US, Europe and East Asia. Routledge. Barragan,R.C.,andet.al.,2021.Identifyingwithallhumanitypredicts cooperative health behaviors and helpful responding during COVID-19. Plos one, 16(3), p.e0248234. Budhwar, N., 2021. Investment in Indian pharma companies during COVID 19 lockdownsinQ22020. EuropeanJournalofMolecular&Clinical Medicine, 7(9), pp.3204-3210.
REFERENCES Currie, J., and et.al., 2021. Life expectancy inequalities in Wales before COVID-19: an exploration of current contributions by age and cause of death and changes between 2002 and 2018. Public Health, 193, pp.48-56. Dobbs, M. and Stefan, O., 2021. EU Soft Law in the UK on the Eve of Brexit:(not) Much Ado About Nothing?. In EU Soft Law in the Member States: Theoretical Findings and Empirical Evidence. Hart. Enria, L., and et.al., 2021. Trust and transparency in times of crisis: Results from an online survey during the first wave (April 2020) of the COVID-19 epidemic in the UK. PloS one, 16(2), p.e0239247. Guo, Y., Li, P. and Li, A., 2021. Tail risk contagion between international financial markets during COVID-19 pandemic. International Review of Financial Analysis, 73, p.101649.