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Strategic Management of Sainsbury

   

Added on  2020-06-04

12 Pages4057 Words66 Views
STRATEGICMANAGEMENT

Table of ContentsINRODUCTION..............................................................................................................................1TASK 1 ...........................................................................................................................................11.1 Explaining the importance of Strategic planning in the context of Sainsbury .....................11.2 Comparing organizational value and mission statement with current business objectives ..21.3 Devising and developing appropriate goals, values and strategic objectives in the contextof Sainsbury ...............................................................................................................................32.1 Assessing the challenges take place in the external environment and its impact onorganizational business strategy .................................................................................................32.2 Analyzing the needs and expectation of stakeholders for Sainsbury and its impact onstrategic business planning .........................................................................................................5TASK 2............................................................................................................................................53.1 Selection of strategy and use of tool for strategic analysis...................................................53.2 Evaluating effectiveness of tools available for strategic analysis.........................................63.3 Risk and competitive position of Sainsbury..........................................................................74.1 Outline a structure of the strategic plan for the company ....................................................8CONCLUSION................................................................................................................................9REFERENCES .............................................................................................................................10

INRODUCTIONStrategic management is highly associated with the formulation and execution of majorgoals that are undertaken by the higher management. The main motives behind undertaking theaspect of strategic management are to meet the wants and expectation level of stakeholders to agreat extent. Hence, for strategic management it is vital for the firm to develop sound strategiesand policy framework by making evaluation of internal as well as external environment. Inaddition to this, strategic management is highly concerned with making optimum usage ofresources which in turn makes contribution in the attainment of organisational goals. The presentreport is based on Sainsbury which is the leading British multinational retailer of UK. In this,report will shed light on the mission, goals and values of the concerned business organization.Besides this, it will also provide deeper understanding about the extent to which internal andexternal environmental factors have impact on the aspect of strategic planning. It also depict theposition that Sainsbury has built in the highly competitive market. TASK 1 1.1 Explaining the importance of Strategic planning in the context of Sainsbury Strategic planning is considered as one of most significant aspect which need to be referredby every business firm in order to have sustainable development. By having an effectiveconsideration of strategic planning the positive environment can be created within organisation.In addition to this, it can be said that by having application of strategic planning activities thebusiness firm can have better direction in respect to meet the goals. It also assists in day to dayactivities so that long term sustainability can be attained effectively. Along with this, it can bestated that strategic planning allows overcoming environmental issues and trends (Chernev,2012). With a help of this, better strategies can be formulated and employed. Sainsbury can havebetter designing of activities that helps in improvement of sales through consideration ofstrategic planning. For example, the company is looking for improvement in sales by 20 percentand they have referred to planning activities in desired manner. It has made managementunderstand about the issues that impacts the effectiveness of process (Das, 2011). With a help ofsuch information the management has framed standards that can support strategic values. Itmeans the overall effectiveness of sales activities within Sainsbury can be advanced properly sothat designed goals can be accomplished. 1

In addition to this, it can be said that by having an effective application of strategicplanning the retail business can have proper understanding about vision and mission. It meansthe staffing and leadership can also be advanced through assistance of strategic planning. It alsoindicates that strategic planning for business is significant because it promotes the standardisedwork practice (Kunnanatt, 2011). Moreover, accountability of activities is getting advancedwhich is beneficial for effective resource allocation. 1.2 Comparing organizational value and mission statement with current business objectives Every business firm requires an effective consideration of mission statement so thatappropriate direction can be offered to business activities. As same by having a framing ofmission statement the Sainsbury can have better valuation of business. It assists managers andleaders to make sure that they are focusing on specific terms in order to lead business toimpressive level of success (Mathur, 2011). In addition to this, it can be said that mission ofSainsbury is to become a leading retail business firm in the market which offers a challengingplace to work. In this respect the company has also framed vision which is termed as to maintainethical retail service practice for better satisfaction among customers. With an application ofsuch practice the business firm is continuously having improvement in outcomes. It also allowsgaining competitive advantage over competitors in market. ObjectiveTo improve operational excellence for sustainable development in retail practiceTo advance customer base by 20 percent till the end of year 2018. To introduce new product line by the end of year 2017. In addition to this, it can be said that Sainsbury is currently focusing on above statedobjectives in order to provide support to its mission and vision. For sustainable consideration ofsuch values the business entity is having improvement in quality standards. It is essential becausethrough advancing quality of products and services the customer base can be enhanced. Suchvaluation within organization will facilitate in improving satisfaction among customers. It alsoindicates that through better operational process the Sainsbury is targeting improvement in itsmarket share. Company is also having a reference of frameworks in order to have betteropportunities (Ferrell and Hartline, 2010). However, business entity is focused towardsintegrated working for continuous improvement. It also allows maintaining relation betweenvision, values and objectives. 2

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