Strategic Development of Stratford Town Centre: A Detailed Report

This report provides a comprehensive analysis of the strategic development of Stratford Town Centre, a district in East London. It begins with an introduction to strategic development and its importance, followed by an examination of the roundabout theory and its application to the town's vehicle movement issues. The report then delves into a PESTLE analysis, exploring the socio-economic and environmental factors influencing Stratford's development. Furthermore, it discusses strategic models such as the Blue Ocean Strategy, Central Place Theory, and Public Choice Theory, along with specific recommendations for the town's growth. The report concludes by summarizing the key findings and offering insights into the future development of Stratford.

Strategic Development
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
1. Elements of roundabout theory................................................................................................3
2 Elements of Pestle and need for town centre............................................................................6
3. Strategies & RECOMMENDATIONS....................................................................................8
Blue ocean strategy......................................................................................................................8
Central place theory.....................................................................................................................9
public choice theory.....................................................................................................................9
Recommendations........................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
Illustration Index
Illustration 1: Roundabout model....................................................................................................3
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INTRODUCTION
Strategic development is the most important aspect associated with growth and
development of business. It helps to integrate all limited resources and determine success of
businesses operation. The present report is based on strategic development of Stratford which is
district of the London Borough of Newham in East London. At this juncture, different aspects
are studied related to roundabout model that what kind of issues are being faced by town related
to movement of vehicles. Furthermore, PESLTE analysis has been conducted whereby focus can
be laid on explanation of socioeconomic and environmental factors. In addition to this, strategic
models are used along with recommendations for development of town in the marketplace.
1. Elements of roundabout theory
The town Stratford is currently known as centre of primary detail, leisure and culture
which has also become the second most appropriate destination for business world in east of the
London. Here, a proper management of town is the foremost concern of the affiliated bodies in
the city that includes a balanced perspective of both its general public and governmental bodies
where they are hereby required to implicate some effective measures to outlook the same
(Stratford town centre improvements, 2017). An adopted strategy will hereby aid them to refer
the same with a prior assistance of roundabout theory to ensure a proper management of the
accessible resources.
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(Source: Roundabout information guide, 2017)
It is therefore in accordance to the above implicated theory that has presented some
strategic elements in it that are required to be concerned by the official bodies of the town to
carry a step wise configuration of their work. This abstraction is hereby entitled as managing the
invisible hands with a primary approach of creating a base for it. Below explicated are the five
leading factors of this model, mentioned as-
1. Identifying core challenges and setting goals- It is the foremost measure in which, the
respective bodies of the town centre are hereby required to determine the core
challenges that are being faced by them. It is basically in order to eliminate any
deterrent prospect of their work that they are referring to perform for the overall
benefit of the city. It is after discovering the dealt challenges that are hindering the
developmental context of the town centre, it will necessitate the regimental bodies of
the town to frame accordant objectives for resolving the same. It together requires a
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planned foresee-ability of the managerial bodies of the city by conducting a primary
investigation of their township. It is with a fundamental sense of analyzing the factual
issues that are being faced by their citizens by together ascertaining any such factors
that can together hinder the upcoming visitants in the town centre.
2. Assessing the prevalent situation- It is in accordance to the above applied tact of
identification to acknowledge the core challenges that are being faced by the town in
order to set prior goals for solving the same. With reference to which, this section will
tend to evaluate the appropriateness that refers to assess the effectiveness of all
selected options. It is generally considered under the planning phase which is followed
by operations where three preliminary stages must be completed such as optimal
roundabout size and optimal position a well as optimal alignment along arrangement
of approach legs. These stages are completed for development of town and it also
ensured that project is completed in relatively less time span. However, initial layout
is created for the purpose of ensuring certainty of future business activities. Under
this, it is noticed that no further changes take place in future through which it becomes
easy to implement the selected plan in less time span.
3. Managing execution- In this particular step, it is hereby important for the management
to shed light upon the prevalent issues that are being faced in context to the
developmental aspect of the township. Owing to this, focus is laid on principles of
roundabout so that accordingly policies can be framed as well as other related aspects
can be effectively considered in it. This is generally done by referring to an obstruct
mean of conflict among the specified outlook of work. In context to which, the
administrative bodies are hereby required to outlook a specialized approach towards
their other associated bodies by opting for a vital format of interaction. This will
facilitate them to promote the sense of industrialization in the city in regard to
tourism, retail and other related prospects in it. However, more shops can be opened
along with tour operators to grab the opportunities provided by capital of UK (Negus,
2011). This will together contribute them to deliver fine quality of services to a large
number of parties and support them to access appropriate pathway for the movement
of resources like raw materials, etc. This will also consider the delivery measures
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undertaken by the organizations in making a smooth transportation of their offered
goods and services to their end users. Hence, roundabout model can be applied to
provide better pathway by taking into account different curves related to entry and
exit. This enables corporations to ensure their long run growth with increased rate of
return in the marketplace.
4. Reducing uncertainty- It is yet another substantial measure that is required to be
envisioned by the affiliated authorities of the management in the selected town where
it is a composite form of uncertainty. This section is however in order to reduce any
future possibility of risk with a primary stage of discovering the strategic uncertainty.
This step concerns about no clear identification of any right strategies with incomplete
set of data and lack of reliable sources in it. It is with another step of analyzing the
actual impact of uncertainty where in case there exists a high state of risk, then the
governmental bodies should hereby refer to outlook the tactic of wait and watch. It is
because a high rate of uncertainty is more bound to risky assumptions of work that in
turn results into make more bias decisions that may also result in underrate the future.
Coping up with uncertainty by designing lens with its three powerful means called
rationality, innovation and legitimacy is another step towards the eventual measure of
reducing the uncertainty where this will require to state own assumptions. This is for
instance to outlook the future occurrence as per the current situation.
5. Solving the core challenges- It is the last stage of this model in which, after a
successful accomplishment of the above configured steps it is evident to solve the core
challenges. It is however with some profound strategies by the affiliated bodies of the
town where with a prime recognition of varied sort of uncertainties that are being
evaluated in the preceding parts of this model. It is by building accordant strategies to
overcome the challenges.
2 Elements of Pestle and need for town centre
London is regarded as the complex network of town centres. Under this five broader
kinds have been determined. This is comprised of international centres, metropolitan centres,
major centres, district centres as well as local and Neighborhood centres. It has been determined
that there is presence of 35 major centres (Bayo and Mirón, 2006). This is comprised of Stratford
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as well as East ham in Newham. Such centres are characteristically essential for the purpose of
shopping and service centres in Borough-wide catchment. The attractiveness of such can be
derived from the mix of both comparison as well as convenience shopping. The two elements
under pestle includes socio economic as well as environment. These are discussed in the manner
below:
Socio-economic: There is greater need towards increasing the attractiveness of the town centre as
well as managing their restructuring where necessary such is comprised of the comprehensive
development of the Stratford as a new commercial, retail as well as residential area of London,
making the most of its European links as well as its pivotal role connecting the areas of growth.
London one having stronger economic position in comparison with other nations. It has higher
GDP, diverse economy but also possess few issues. It has been assessed that the major major
factor is the larger population that is allowing for even small markets to be profitable. There is
presence of diversified economy that is having both larger public as well as private sectors.
Along with this another major socio-economic factors involves free market. This has increased
the trade with the market in an effective manner. Increase in the foreign direct investment is
considered as another major factor that assist in enhancing the growth of the economy to a
greater extent. This has lead to attainment of the growth target of the nation to a significant level.
The major issues under this is related with slower recovery from the recession which is affecting
the economic development. Along with this by the means of such the population in the nation
has not enhanced its standard of living that is creating major issue. Another major issue is that
greater amount of money has been spent on offering free public services as well as financial aid,
even for the migrants (Jhunjhunwala, 2009).
Environment: The policies of environment within the particular town centre is based on the
principles that are related with command as well as control that might offer polluters a certain
fixed or standard. The government plays an essential role in developing European environmental
standards with all the EU policy making (D’Anna and Cascini, 2011). The strategy of sustainable
development strategy offers management structure to ecological, economic as well as social
development of EU and to assist in new environmental directives that are being integrated into
the other policy areas. There is presence of four major aspects that relates with the climate
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change as the foundation for sustainable development that is comprised of nature as well as
biodiversity, natural resources and waste, health as well as quality of life.
From the analysis that is being carried out in detain it has been assessed that Stratford
town centre highlights greater number of strengths as well as weaknesses and clear opportunities
and threats that are being increasing for the future development (Bermingham and Brewer,
2013). The town centre is having good demonstration of low to mid market comparison good
retailers across the Stratford shopping centre. However it is significant that major purpose for
which the city is visited relates with food shopping. Thus the role of environmental prevention is
significant. This has been gained that overall comparison as well as role of convenience in the
town centre is sufficient though the number of mix units does not make comparison in
favourable manner with the national average (Brinson and Dove, 2010). This has been assessed
that the number of service is higher than the national average which eventually undermine the
retail function of the centre. The major issue that is moving forward is related with the
importance of the linkages as well as integration among Stratford city as well as existing town
centre. As such has important role in attaining the growth in the economy to a greater extent.
There is presence of other factors of pestle analysis as well. Such is comprised of
political, social, technological as well as legal. Such have been enumerated in the manner stated
as under:
Political factors demonstrates that London is fair as well as stable country that has plenty
of opportunities in and the country as whole. The major positive factor include under this
relatively fair with the public and have large influence on the inner workings. Further it has been
assessed that there is proactive government (Bond, 2014). The town centre is politically stable.
However it has been determined that there is presence of some well hidden corruption. In
addition to this Social factors reflects the positive factors such as several free public services.
Further it has been assessed that open to migration leads to cosmopolitan environment with
around 1 in each 8 residents born abroad. This has lead to large and cheap workforce. There is
presence of higher standard of living. However the negative factors involves that there is higher
as well as increasing dependency ratio. There is presence of some social unrest in relation to
migration as well as ethnic group. Along with this the issues relates with the increase in the
education costs. Technological development demonstrates that town centre that is Stratford is
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having sound access to technology (Furham, 2012). The positive of such is that there is quality
innovation skills. Along with this there is presence of effective laws in relation to intellectual
property. There is presence of plenty of internal competition for the purpose of stimulating the
aspect related with growth. There is slower technological development in comparison with other
developed nation. The legal factors demonstrates the laws that have been developed specifically
for the particular nation. Under this it is demonstrates that laws are complied with in order to
attain the enhance the peace within the nation that can enhance its development.
3. Strategies & recommendation
Blue ocean strategy
The blue ocean strategy can be considered as the most effective for determine sustainable
growth in the marketplace. It facilitates to utilize limited resources in a most effective manner. It
assists management to determine higher rate of return by adopting the most system approach for
making the competition irrelevant. At this juncture, 8 key points can be considered for
implementation of the proposed strategy where the first element is about grounded data. It shows
that data from different companies can be clubbed together for producing valid outcome for
development of growth of the nation or town. However, second element is showing that low cost
and differentiation must be brought for the purpose of ensuring betterment of entire town. Apart
from this, uncontested market space is created by corporations operating in the marketplace with
increased rate of return (What is blue ocean strategy, 2017).
Furthermore, tools and framework are created by the businesses or managers so that can
effective create the uncontested marketplace for offering varied product and services. It
facilitates to break the competition and accordingly sustainable growth can be ensured in the
marketplace. Apart from this, step-by-step process is followed by business so that growht of
village can be ensured in the marketplace. It enables companies to make customers understand
regarding the specific features of product or services. At the same time, focus is laid on
maximization of opportunities while minimizing the overall risk associated with project.
Similarly, strategies are executed effectively by taking into account visual aspect and clear
communication as well as collective wisdom of businesses. This tends to ensure long run
survival of company with higher rate of return.
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In addition to win-win outcome are created wherein value profit and people are
considered. This facilitates to ensure well begin of general community and other related parties
of business. It aids to deliver good quality of services to all associated buyers and ensure to meet
their expectation level to a great extent.
Central place theory
The theories that can be executed for the purpose of offering recommendation presents
central place theory. The assumption of this theory is that human would always make purchase
of the commodities from the place that is near for them. This is being assessed that there is
evenly distributed population. Further all the settlements are equidistant as well as exist in the
triangular lattice pattern (Gharajedaghi, 2011). This would assist in establishment of the linkages
among the Stratford town centre and other. There needs to be evenly distribution of the resources
so that recovery from the recession can be done in an effective manner and within the minimal
time span.
public choice theory
Another theory is relating with the public choice theory that reflects that urban politicians
as well as governing regimes are subordinates to the overall economic principles. The
competitiveness nature of cities offers encouragement to the business elite as well as politicians
to favor the new development in an effective manner (Isaksson, Hallencreutz and Garvare,
2008). This theory is appropriate in terms that it assist in overall growth and development of the
town centre in an effective manner. With this better protection can be made towards the
environment as well (McCusker, 2014).
Recommendations
According to the above mentioned report, it can be suggested to management and entire
team to follow the roundabout model for resolving all issues associated with infrastructure
development and other related aspects. It enables east London and entire Stratford town to focus
upon specific need of local people and provide them all basic facilities along with promotion of
industrialization (Marx, 2010). However, blue ocean strategies should be adopted by
management of respective work so that accordingly competitive edge can be created for
businesses operating in the town. Though, small businesses or several shops are opened in the
town so that basic requirement of people can be accomplished. However, some firms are facing
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competition in term of rate of return and variety of products and services. For this purpose, blue
ocean strategy can be applied which might incur cost at initial stage but helpful to increase
higher rate of return for different firms.
Furthermore, roundabout model should be applied for growth and development of town
whereby focus is laid on infrastructure development. It aids to cater need of all people living in
the town and accessing good quality of services which are being offered by the business.
Another fact related to socio-economic is found that recovery from recession is very slow
which can affect living standard of people. Owing to this, appropriate strategy can be applied for
better research and development activities. It would be effective to anticipate the changes and
accordingly ensure development of town (Marmot and Bell, 2012). Apart from this, free public
services should be offered only to needed people. It is because rich people might take advantage
of the same. Owing to this, such kind of services can be provided after doing proper research and
categorizing people. In addition to this, Stratford city should provide subsidy and cost effective
source of finance for local entrepreneur so they can contribute towards improving living standard
of people by creating more job.
CONCLUSION
It can be concluded from the present report that the two elements of Pestle that is socio-
economic as well as environment are important in assessing the condition of the town centre.
With this issues that are arising can also be assessed. It has been inferred that major issues is
related with slower recovery from the recession which is affecting the economic development.
Along with this by the means of such the population in the nation has not enhanced its standard
of living that is creating major issue. Another major issue is that greater amount of money has
been spent on offering free public services as well as financial aid, even for the migrants.
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REFERENCES
Journals and books
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sostenibilidad, tecnología y humanismo. (1). pp.41-59.
Bermingham, A. and Brewer, J., 2013. Consumption Of Culture. Routledge.
Bond, P., 2014. Elite transition: From apartheid to neoliberalism in South Africa.
Brinson, C. and Dove, R., 2010. Politics by Other Means: The Free German League of Culture
in London 1939-1946. Vallentine Mitchell.
D’Anna, W. and Cascini, G., 2011. Supporting sustainable innovation through TRIZ system
thinking. Procedia Engineering. 9. pp.145-156.
Furham, A., 2012. Culture shock. Journal of Psychology and Education. 7(1). pp.9-22.
Gharajedaghi, J., 2011. Systems thinking: Managing chaos and complexity: A platform for
designing business architecture. Elsevier.
Isaksson, R., Hallencreutz, J. and Garvare, R., 2008. Process Management and System-Thinking
for Sustainable Development. The Theories and Practises of Organization Excellence:
New Perspectives. pp.205-232.
Jhunjhunwala, S., 2009. Monitoring and measuring intangibles using value maps: some
examples. Journal of Intellectual Capital. 10(2). pp.211-223.
London, J.D. ed., 2011. Education in Vietnam. Institute of Southeast Asian Studies.
Marmot, M. and Bell, R., 2012. Fair society, healthy lives. Public health. 126. pp.S4-S10.
Marx, K., 2010. A contribution to the critique of political economy. In Marx Today (pp. 91-94).
Palgrave Macmillan US.
McCusker, J.J., 2014. The economy of British America, 1607-1789, with supplementary
bibliography. UNC Press Books.
Meadows, D.H. and Wright, D., 2008. Thinking in systems: A primer. chelsea green publishing.
Morandi and et.al ., 2014. Foreseeing iron ore prices using system thinking and scenario
planning.Systemic Practice and Action Research. 27(3). pp.287-306.
Negus, K., 2011. Producing pop: Culture and conflict in the popular music industry.
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