logo

Business Strategy INTRODUCTION

   

Added on  2020-10-22

11 Pages3939 Words481 Views
 | 
 | 
 | 
Business Strategy
Business Strategy INTRODUCTION_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analyse the impact and influence of macro environment on organization...........................1TASK 2............................................................................................................................................3P2 Analyse the internal environment and capabilities of given organization by usingframework...................................................................................................................................3TASK 3............................................................................................................................................5P3 Porters five force model evaluate the competitive forces in market sector...........................5TASK 4............................................................................................................................................7P4 Theories, concepts and models for interpret the strategic planning of organization.............7CONCLUSION................................................................................................................................8REFRENCES...................................................................................................................................9
Business Strategy INTRODUCTION_2

INTRODUCTIONBusiness strategy is essential which help in achieving specific goals and targets of anorganization. It is one important administration plan that will assist in enhancing performance ofthe company. Along with this, it will aid in demonstrate the direction to employees for reachingwith set goals and objectives and without this it is very complex for compete with their rival inthe large market place. The business strategy assist in gaining business power and intelligence.The one of the main function of company is to producing appropriate business strategy. Thereport is based on Marks and Spencer which is British international merchandiser company andits headquarter is located in the city of Westminster, London (Ackermann and Audretsch, 2013).The main purpose of this assignment is to understand business strategy for analyse the impact ofPESTLE on the organization activities and functions. Also they need to analyse the strategicalcapabilities by using VRIN structure. TASK 1P1 Analyse the impact and influence of macro environment on organizationBusiness strategy define as the company high level of planning while reaching withspecific business goals and objectives. It is long term activity which help in designing toachieving a particular targets of the company. Strategy is administration plan which enhancingtheir firm performance and growth level. Business strategy can be define as the plan of actionand effective decision making which help individual person for achieving its objectives andgoals. It is the set of competitive activities and movements which can be used by company forattracting large number of customers, gaining organisation targets, increasing employeesperformance and attaining higher success. PESTLE analysis:It is the external analysis which directly or indirectly affect on business operations and itsfunctions effectively. This analysis provide a framework to investigate the firm non controllableexternal factors which desire to influences on operations and functions (Alsoboa and Aldehayyat,2013). With the help of this investigation, the Marks and Spencer take better position fordetermining the implications and reduces the future organisation related risks. Political factors – Marks and Spencer firm has been favoured with the ECs free tradeagreements and which can led to reduces sourcing value or cost. The political factor are1
Business Strategy INTRODUCTION_3

those factors which are developed, changed and run by the government authorities. Suchfactors shows anticipation level which are doing various trades and businesses. For theM&S, high value is disadvantages in the international market place. Economic factors – It is that factor which are determinants of economy's performancethat directly or indirectly effect on firm growth and it is long term factor. Marks andSpencer economic rate is directly affected by rivals discounting values. In this, companymainly concentrate on high quality services that can reduces their short term damages andlarge number of customers are attracted towards products quality which offer by anorganisation (Bentley, Omer and Sharp, 2013). Along with this, M&S need to organiseand conduct effective economic analysis. This is important for determining the state ofeconomy on the basis of short and long term. An organisation also require to focus onlatest trends in which young generation are spend most of their expendable revenue onclothing. Social factors – These are fundamentals which does not directly regulated and operatedby company but this will affect business marketing strategies. Marks and Spencer arealter lot of things as per their customers needs and wants. Most of the company customersare over age 40 who are mainly purchase different types of products to the M&S. Theyare analysing their desired consumer needs and requirements and according to theirdemand they offer variety of goods or services. Also the company examine the wholelatest social trends which need to offer by customers for gaining attention of themtowards new facilities. Technological factors – It is the vital factor in the retail market place. They need to adoptvarious new techniques and methods for producing unique type of commodities for theirusers. Marks and Spencer has powerful social media and online existence which helpthem in gaining high amount of income or revenue (Cadle, Paul and Turner, 2010). Mostof the consumers are purchasing products through internet so firm need to update its siteson regular basis. M&S require to develop and build its presence in the digital media fortaking higher advantages in better manner. Legal factors – In every country, legislation is always change according to thegovernment. Marks and Spencer require to bring out training and development sessionsin each year, through this they will be updated regarding its current laws and norms. If2
Business Strategy INTRODUCTION_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Business Strategy: Analyzing Macro and Internal Environment of Marks & Spencer
|14
|4488
|260

Business Strategy: Analyzing Macro and Internal Environment of Marks & Spencer
|14
|4488
|366

Analyzing Macro and Internal Environment for Mark and Spencer
|18
|4686
|58

Business Strategy for Marks and Spencer
|13
|4217
|420

Macro Environment and Strategic Planning
|14
|4670
|148

Desklib - Online Library for Study Material with Solved Assignments, Essays, Dissertation etc.
|14
|4252
|234