MGT302A: Strategic Management

Added on - 12 Sep 2021

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Running head: STRATAGY MANAGEMENT
Strategy Management
Name of the Student
Name of the University
Author Note
1STRATAGY MANAGEMENT
Transcript:
CEO: Hello everyone. Welcome to the annual roadshow. I am the Chief Executive Officer of the
Seven Eleven Organization. My chief role includes providing leadership to the management. I
am also responsible for the day-to-day decision making as well as for implementing the
company’s both short term as well as long term plans for betterments of the business. As you
guys know, the chief purpose of the road show is to enhance the revenue as well as market value
of our organization. Being the Chief Executive officer of Seven Eleven, I have prepared a
strategic plan in order to achieve the goal.
I strongly believe that it is really hard to accomplish anything without an appropriate
plan. Be it cooking a dinner, coaching a football team as well as implementing a strategy for the
company, planning is highly essential. In order to create an effective strategy for the Seven
Eleven Company, the first thing I did was to identify what’s crucial. For this, I required to
understand its external as well as internal environment. This strategy helped me to understand
the advantages as well as disadvantages faced by the company. Or this, I conducted the PEST
and SWOT analysis. The next step I followed was to define my final goals. I, in my mind, clearly
defined the expected objectives of the organization. After this, I assessed the organizations key
strategies as well as initiatives. The next step followed by me was to assess the potential
challenges that may take place during implementing the strategies. This is highly crucial since
assessing the challenges helped me to plan strategies to eradicate the same. The last thing I did
was to develop plan for measuring as well as implementing the strategic cusses. As a CEO, I
think, it is highly crucial to measure and evaluate the strategic successes in order to understand
the efficiency of the strategy. That’s it. Hopefully, I am able to provide you with the summary of
the activities I have conducted in order to produce an effective strategy for seven eleven.
2STRATAGY MANAGEMENT
Now I will explain each and every part of the strategy to you n order to provide you with
a better understanding of the infographic. Firstly, I have stated the vision and mission of the
Seven eleven Company. Themissionstatement of the company isto be the best in Australia at
meeting the ever changing needs of the convenience customer.Thevisionstatement of seven
Eleven Australia is to be the 1stchoice of the consumers when it comes to market share as well as
preferences through sustainable growth and operating the business at the highest level of ethical
standards. The mission and vision statement made me understand the prime goal of the
organization. Secondly, I conducted the background research of the company in order to
understand its position and reputation in the retail market of Australia. I found out the Company,
7 Eleven was founded in the year 1927 in Texas is considered to be the largest operator as well
as licenser of the convenience stores with more than 21000 units. Currently the consumer offer
24 hour convenience and seven days a week is the cornerstone of 7-Eleven’s business. In order
to understand its current market position in the Australian retail industry, I conducted PEST
analysis. This analysis provided with me with the following information:
When it comes to political environment, I found that several restrictions have been
implemented by the Australian government in order to prevent the dominance of independent
organizations like seven eleven in the mentioned industry. I also found out that easy regulations
in the retail market paved the way for new entrance. This is bad since it enhances the competition
in the market and posses the potential impose negative impact on the revenue of the company.
The social environment is also not that favorable. People are getting inclined towards healthy life
style and that is bad since a good number of fast-food and cokes are retailed in Seven eleven.
However when it comes to technology it is definitely a good news. We all know that
technologically Australia is advanced and this provides Seven eleven the opportunity to maintain
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