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( P47 ) Business Strategy

   

Added on  2023-04-04

13 Pages475 Words406 Views
BUSINESS STRATEGY
TASK 1

TASK 1.1 Explaining strategic context and
terminologies
• In the business entity there are various kinds of terminologies
are used which are achieved with the help of different
strategies.
• In the organisation, with the context to strategic there are
several aspects are to be used and added.
• With reference to the Iceland supermarket different business
terminologies such as goals, mission, vision, objectives, core
competencies etc. are analysed as below:

Vision and Mission
• Mission: To increase market share by 18% in
the retail industry.
• Vision: To become a leading brand in overall
retail industry across the world.

Objectives
• To attract more number of customers towards
Iceland supermarket for purchasing its
products.
• To achieve economies of scale.
• To improve financial position in the retail
industry.
• To gain competitive advantage with the help
of cost.

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