Strategic Decision Making Process - Report

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Added on 2020-02-05

Strategic Decision Making Process - Report

Added on 2020-02-05

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Strategic Decision Making1

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ABSTRACTStrategic management for River Island to improve its product services are described thataffects organisation's effectiveness and its implementation. However, analysis of entity'sperformance using SWOT and PESTLE are introduced by which further decisions can be made.In this regard, strategies to be implemented for marketing and competitive strategies oforganisation are described through this assignment. 2

Strategic Decision Making Process - Report_2

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3a) Internal and external environment analysis.............................................................................3b) Enlargement of strategy...........................................................................................................6c) Identification of strategic choices............................................................................................7Conclusion.......................................................................................................................................8Recommendation.........................................................................................................................9REFERENCE.................................................................................................................................103

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INTRODUCTIONStrategic management includes systematic planning process to resolve uncertain changeswhich takes place in the business. It requires forecasting and decision making tools so that betterdecisions can be taken in the enterprise. . Organization formulates and implements strategy foraccepting uncertain changes like technological dynamics or sudden issues due to flexibility in thecompetitive market. The present report is prepared on the basis of strategic decision makingprocess of River Island retail industry of UK. OverviewIt is a popular fashion, clothing and textile retailer which serves millions of consumers.Company was mainly founded in year 1948 by Bernard Lewis. It has been noticed that businessfirm is operating its worldwide operations from London based headquarter. Moreover, the reportwill highlight the controllable and uncontrollable environmental factors and their effect on theretail industry. In addition to this, it focuses on the company plans to sustain the position inmarket and gaining competitive advantage for the enterprise. a) Internal and external environment analysisRiver Island identifies business environment through understanding of internal andexternal factors. Internal factors helps in managing resources and analysing action plans forbetter control over activities. Production and distribution of cosmetics and textile items arerecognized by retail firm on the basis of planning strategy. It helps to gain higher efficiency inthe terms of production (Kroon, Van and Timmers, 2013). Pestle AnalysisOn the other hand, elements which are beyond the control of business come underexternal factors which have direct impact on goodwill of the organization. These includepolitical, sociology-economic, legal and technological elements. Political factors: - These factors involve tax rates and interest rates. Changes ingovernment policy might affect the monetary position of River Island. For example, UKgovernment has decided to increase the interest rates on loan amount then it will force theretail firm to have decrease in loan process. If policies are not referred then it will create afinancial liability burden on business. (Strategic management, 2016). UK government4

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