Strategic Management of Bay Street Shopping Complex

The report explores the strategic management of Bay Street shopping complex, a successful organization in the industry. It examines the company's strategic decisions over the last five years and its competitive position in the market. The study utilizes various strategies that Bay Street can adapt to maintain its competitive edge and offers recommendations for achieving organizational goals effectively.

STRATEGIC MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Types of strategy that can be used in Bay street shopping complex...........................................1
TASK 2............................................................................................................................................3
Exploring the competitive drivers and its impact on competitive position.................................3
TASK 3............................................................................................................................................4
Internal analysis tools for having appropriate conclusions.........................................................4
Porter's five forces.......................................................................................................................6
TASK 4............................................................................................................................................8
Implementation of strategic choice models for sustaining competitive position........................8
TASK 5 – Recommendation ...........................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Strategic management is considered as a proper way of formulation so that the company
can be able enough to implement successfully all the targets and goals. It provides a sort of path
to the organisation that how all the processes and operations should be managed in an
organisation so that they can be able to achieve all the targets and goals at a much faster rate.
Strategy is considered as any way that if involved, can help in a faster accomplishment of the
goals. So, the strategic management is classified as the management of all those factors in a way
that it can help in maintaining a balance, thus help the Bay street shopping complex to achieve
all their targets and goals in a faster amount of time.
TASK 1
Types of strategy that can be used in Bay street shopping complex
There are various types of strategies that can be used by the bay street shopping complex
for having more efficient and appropriate outcomes. Some strategies are discussed as under :
Growth strategy
By the means of growth strategy, the bay street shopping complex can ensure of either
new products to the market or making some sort of modifications in some existing products so
that it can satisfy the customers. Bay street shopping complex deals with a wider range of dining,
hospitality, shopping, clothing etc., so they can make involvement of new features etc. in any of
these to attract the customers. A very common example of this can be considered that as in case
of shopping and clothing, they can check out the latest trends and what people currently like the
most. On the basis of that, they can make the required changes which they think can attract the
customers. For any business to stay in the longer run in the market place, it is very important to
fulfil the demands of the customers(Lasserre and et.al, 2017). The organisations not having focus
on the same can prove themselves to be a threat for staying long in the market. Another factor by
means of growth strategy, Bay street shopping complex can involve and it is expanding some of
their stores in some new location or city where their business can work well. It will help the
company in gaining new customers along with a higher rate of expansion as well slowly. So, Bay
street shopping complex can make involvement of the growth strategy for maximized rate of
popularity and productivity. Bay street complex procedure is to convey practical long term
development, expanding on their effective strengths of new products, quality, esteem and
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administrations, supported by our remarkable or vertical mix capacity, while reflecting
customers needs and the progressions that are occurring in the market.
All together work in business in the global market Bay street complex need to set its main
goal, vision and goal. In the global market, there are different sorts of segments which need to
confront the Bay street complex. In this the firm advertise that its principle objective is to get the
huge number of customers by rendering amazing nature of merchandise and enterprises.
Likewise, Bay street shopping complex will give the efforts to build up effective brand image in
the global market and pick up the upper hand. For this reason, organization need to set its
aggressive procedure through which it can adequately rival equals in the global rivalry.
Organization will convey its current mission and vision in the china showcase. Along this vision
and statement of purpose it can design its business technique(Hill,Jones and Schilling,2014).
Product differentiation strategy
In case of various companies, they follow the product differentiation strategy because this
is a better way to present things differently so that customers can also feel that they are getting
something different from the organisation. So, the Bay street shopping complex can ensure the
involvement of it by making a different and completely new range in the clothing area. For this,
they can either try involving the old clothing range as it can actually seem an attractive option for
the people or they can involve the new latest collection that other stores have yet not involved. It
is considered as a better strategy to involve these differentiated products before than others so
that they can be able to gain much number of customers by this means. The product
differentiation strategy helps Bay street shopping complex to stand out of the box and develop a
unique brand image in the market by producing innovative product or by providing effective and
impressive services to their customers(Rothaermel,2015) The Complex consist a wide range and
variety of good and services which attract each and every kind of customers, this is a major
advantage for the Complex as increased number of customers will assist in increasing the
profitability of the firm. Therefore, the Bay street complex implement the product differentiation
strategy to achieve a good and competitive position in the market. The complex focused on
offering new and attractive products to their customers such as clothes, household items etc. the
firm also provides special discounts and offers in festive seasons to increase the sales and satisfy
the customers to build a good image and position in the market.
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TASK 2
Exploring the competitive drivers and its impact on competitive position
There are various competitive drivers or external elements that affect the performance of
the organisation such as the Bay street shopping complex. The Bay street shopping complex is
operating its business activities within a highly competitive market or industry hence the
possibility of competitive drivers affecting the organisation operations increases. These elements
or factors can be identified and described by using PESTLE analysis as described below -
1. Environmental Factors – The natural factors, for example, atmosphere, patterns and so on
greatly affects the different business exercises or activities. The Bay street focus around
performing ecological agreeable business tasks to build up a solid and safe condition. The
association consider condition as an imperative factor while arranging, creating and executing
business capacities or exercises. Thus, these factors or elements highly affect the functioning of
Bay street shopping complex.
2. Legal Factors – The lawful factor incorporates different laws and directions outlined and
forced by the legislature on the business tasks performed by the associations. The lawful experts
build up specific laws with respect to the business exercises that are vital to be trailed by every
single kind of organizations or association keeping in mind the end goal to maintain and stay
away from legitimate results. The Bay Street successfully takes after the enactments keeping in
mind the end goal to remain clean and make an inspirational position in the market(Gamble and
Thompson,2014).
3. Political Factors – The legislature assumes a vital part on the business tasks inside an
association. The political figures, for example, change arrangements because of fluctuating
government greatly affects the organizations and their capacities. It is vital to think about the
political components while arranging the business procedures and actualizing them.
4. Economical Factors – Different nations have different contrasts in their financial conditions.
The financial states of a nation highly affects the business activities on the associations. For
instance – solid or solid economy increment the acquiring power among individuals while a
feeble economy decreases it which negatively affects the offers of organizations. Fluctuating
government policies also plays a major role in influencing the business operations or activities
within an organisation.
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5. Social factors – The social factors, for example, inclinations or taste of the general population
or customers. The client inclinations is critical and basic to consider for an association, for
example, Bay street complex. The quantity of offers relies upon the factor that the customers are
tolerating and fulfilled by the item offered by an association or organization(Bryce, 2017).
6. Technological – The innovative improvement is likewise a central point that impact the
business tasks and capacities. The selection of new and inventive innovation can help with
expanding the efficiency of an association which prompts increment in benefit and
accomplishment of objectives or goal. The Bay street complex around actualizing the utilization
of present day innovation keeping in mind the end goal to offer powerful items and
administrations to the customers.
The above factors are influencing various business functions and operation within the Bay street
shopping complex which directly affects market position of the organisation. There are certain
competitive advantages acquired by the Bay street shopping complex such as variety of products
and high quality of services. The various other organisations uses different strategies in order to
achieve a leading position in the market but due to the effective strategic management Bay street
shopping complex such as the product differentiation strategy helps them to sustain their position
in the marketplace.
TASK 3
Internal analysis tools for having appropriate conclusions
Internal analysis of Bay street shopping complex means exploring various factors of the
company that are essential for its production such as cost, position, viability etc. the internal
analysis of an organisation is very important as it helps in maintaining the rate of strength of the
company. Also, it helps in identifying the area of weakness in Bay street shopping complex so
that they can be resolved as soon as possible(Morschett, Schramm and Zentes,2015). There are
different tools that can be used for performing the internal analysis, but making use of SWOT
analysis tool here for determining the internal analysis of Bay street shopping complex are
discussed as under :
Strengths
Bay street shopping complex deals with not only one but a different range of services that
they offer to the customers. It is composed of enormous number of brands in the clothing store
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and in dining, has a luxury arrangement to provide to the customers. It is a complete set of all the
factors at a single place. If some wants to do shopping, they can eat in the restaurant if they want.
So, this can be considered as a strength of the Bay street shopping complex that it is a complete
composition of different factors that are available to the customers and also helps in maintaining
the comfort level of them as well. These strengths assist and support the Bay street to attract
more customers and offer the best products or services to their customers. Its real quality is
offering some incentive for cost to its client. Offering new and great quality nourishment things
easily is a noteworthy positive point that assumes an essential part in customer retention It
advances the idea of Bay Street by giving an assortment of new and great quality nourishment to
the customers simply round the corner. It gives customers an alternate domain as well as aides in
reduction of cost. It has fantastic framework and brand picture through which it can draw in the
huge quantities of customers. It has High extent of privately sourced items which accomplishes
operational efficiencies(Ginter,Duncan and Swayne,2018).
Weakness
There are various competitors of the Bay street shopping complex that are also trying to
involve as many features to keep the customers satisfied. Other different brand offer various
discounts and sales to a huge extent but it is seen less in case of Bay street shopping complex, so
this can be considered as a weak factor for the organisation. It is because it can cut down the
customer rate of Bay street shopping complex to a huge extent. So, the organisation should
ensure to keep involving features and discounts etc. so that the customers can stay attracted
towards the company. Bay street shopping complex advanced the idea of Market Street to the
customers, its system and foundation as far as data innovation isn't produced. Bay street
shopping complex outbound coordination or looking at office isn't extremely noteworthy if
contrasted and the contenders Bay street shopping complex have needs as far as administrations
and needs a ton of change around there. Bay street shopping complex have Need to put more in
the preparation of its representatives to enhance their administrations and after deals
administrations.
Its in house benefits and outsourcing office of items is muddled and can posture issues amid its
extensions of stores. They should dissect the advantages and disadvantages
Opportunities
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As the competition brands of Bay street shopping complex focuses on attracting the
customers by different means of offers and discounts, so, they can also ensure to involve such
means so that they can also stay competitive enough, whether in terms of offers or any products
etc. Involving the same features that the competition brands are doing can actually act as an
opportunity for Bay street shopping complex to gain a wide range of customers. It real open door
is to wind up the main substances and hold store all around the world. Assist opportunity is to
rebranding effective stores through development of computerized media, marketing and
technology. The another real open door is to section into developing markets through securing of
littler chains and tie ups(Durand, Grant and Madsen,2017).
Threat
It may happen that at some time, some competitors have tries to do some sort of
malfunctioning with the manufacturing or sales of their products by some means, it can thus
impact the image of Bay street shopping complex. So, instead of facing this threat, the company
can make sure to involve these factors so that these factors do not act as a barrier or threat in
order to achieve all the objectives and targets, thus the company can be able to achieve the
popularity as well as productivity at a higher rate as well. Ceaselessly changing in the innovation
and correspondence development influence the creation and activity of business undertaking.
Rising crude material expenses from both sustenance and non nourishment will affect overall
revenue.
According to the above talk it has been determined that Bay street shopping complex have
different quality, shortcoming, opportunity and dangers. It has been find that organization have
huge quantities of qualified representatives through which it can pick up the upper hand by
delivering fantastic quality administrations. In any case it has shortcoming of abnormal state
retail rivalries. Organization ought to keep up its security and maintainability in the market by
utilization of fitting methodology. With help of successful e advertise system, organization can
ready to enter in the new market and pick up the upside of sustainability and effectiveness(Slack,
2015).
Porter's five forces
Bay street shopping complex can also make use of another tool, that is the Porter's five
forces. This tool helps in identifying the various external forces that highly affect the business
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functions and operation performed by an organisation. There are different aspects of Porter's five
forces also that can be involved by the company in order to ensure a proper and smooth
processing in the organisation. Different aspects of the same are discussed as under :
Supplier power
Supplier power is considered as the overall rate at which the suppliers decide the prices
for supplying some specific material to the people or retailers for further selling. The supplier's
rate can depend on a few factors as if the supplier knows that the product is unique enough, so in
such cases, they can increase the overall rate. So, it depends on this factor, also, if there is less
availability of suppliers at that time, they can charge more. So, situations and factors like this can
actually influence on the supplier power to a huge extent.
Buyer's power
It depends on the customer totally as it can come to as down as the customer can make it
to the retailer. It also depends on a few factors. So, if there are fewer retailer store present of the
Bay street shopping complex, in such cases, the buyers have no other choice to purchase at that
rate only. Otherwise, they have to switch to the other retailer. Thus, this factor is also dependent
on some processes and procedures.
Competitive rivalry
It means the overall number of competitors of Bay street shopping complex in the
market. If the rate of their competitors is high, so it can influence the popularity as well as
productivity of Bay street shopping complex. Thus, the company should try to involve factors
that they can also compete with their competitors and achieve all their targets and goals.
Threat of substitution
Substitutes are considered as the replacements of some specific products or services. So,
if in case, some competition brand of Bay street shopping complex involves some replacements
of the products that are being supplied and produced by Bay street shopping complex. So, it can
influence the productivity level of Bay street shopping complex to a huge extent. Also, it can act
as a threat as well. Therefore, this can also minimize the supplier power as well. Thus, Bay
street shopping complex should focus on involving some means that can help this to het
resolved(Morden, 2016).
Threat of new entry
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Various new entrants enter in the market having big goals but their entrance in the market
place with the same products can act as a threat to the brands that are currently running in the
market place. So, the Bay street shopping complex should ensure to keep their marketing strong
enough so that their business cannot get affected by any of the new entrant or their targets. This
can actually help Bay street shopping complex to achieve all their objectives and targets at a
faster rate.
TASK 4
Implementation of strategic choice models for sustaining competitive position
Strategic choice is considered as an important phase that actually involves the strategic
planning process along with a proper analysis and choice. It means this helps in analysing the
current strategic position of the company that where the company is still lacking and what are the
areas that needs to be modified. Also, it checks that the present strategy that is in action already
and what has been the outputs of it on the processing of different functions of the company. So,
the forte of strategic choice models include the fact that how the completion of the new strategies
that are to be implemented, what will be the direction for growth for the Bay street shopping
complex, what will be different methods and means by which the company can be able to grow.
So, for every single step, different models can be used according to the fact that different models
can be easily accessed to satisfy the requirements of the process(Stead and Stead,2014).
Keeping in mind the end goal to shield the business condition from the vulnerabilities'
organization needs to shield business item and administrations from dubious exercises. For
example, they have to embrace a few techniques to secure the core item and administrations.
There are various strategies or methods which can be adopted by Bay street shopping complex in
order to sustain the competitive position in the market. These strategies or techniques can be
described as below -
 Embrace the most ideal technology: innovation diminishes the working expense and
handling expense of the organization. Innovation stables the item quality and
development. Bay street shopping complex ought to embrace the most ideal systems
keeping in mind the end goal to snatch the market openings. This likewise keeps up the
nature of item and administrations of various products or services. Organization must
need of the most recent innovations which help with decreasing the working expense and
stable core item
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 Embrace the best quality of assets: this is the another technique keeping in mind the end
goal to keep up the powerful administration devices to secure the core result of the
organization. Clothed, furniture, households products etc are the items which are
important to be successful and as indicated by the control of administrations. Alongside
that, Bay street shopping complex needs high value of assets to make compelling item
results and consumer loyalty(Goetsch and Davis,2014).
 High investment on manufacturing : Bay street shopping complex needs to put substantial
on creation process keeping in mind the end goal to get the most ideal results. Alongside
that, it is extremely fundamental for the organization to embrace prominent generation
process in as per get the best yield comes about.
 Making arrangements for development: Another procedure to ensure the item and
administrations of the organization is to influence arranging of further speculation on new
administrations with a specific end goal to make to the brand fame. Alongside that,
organization ensure that, all new development design advances core item and
administrations
 Embrace the best distribution channel: due to the absence of appropriate dissemination of
Clothes, furniture etc purchasers give less enthusiasm on those organizations. With a
specific end goal to improve the business offer or core item, organization ought to receive
the most ideal dissemination divert to keep up successful outcomes(McKiernan, 2017).
TASK 5 – Recommendation
The Bay street shopping complex can achieve more success by focusing on its strategic
decisions or management. Each and every organisation needs to adopt various strategies or
changes in their planning and functioning in order to meet the requirement of current trends,
market conditions or customer satisfaction. The organisations need to analyse and identify
various factors that can affect their business functions or activities, these can help them to
develop effective strategies which can eliminate the negative impact on the business performance
and assist to sustain the competitive position in the market. According to the above discussion
and study it can be presumed that organization is managing on the abnormal state which gives
their administrations at worldwide level. Also, according to the suggestion organization needs to
gauge the situation of market with a specific end goal to guarantee the new sections or new
changes in the outer condition. Organization needs to recognize the contenders' quality and
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shortcomings on which they make new arrangements and business procedures. For the benefit
outer aggressive market. Organization needs to make new vital arranging with a specific end
goal to address the issues of customers. This influences the general consequences for the
organizational position among the various competitors. Then again, organization likewise
guarantee the nature of administrations of the items. Organization dependably favour high
quality of various products, The principle target of the organization is to hold the potential
customers with the organization in long term marketplace. In addition to this, Bay street
shopping complex additionally need to ensure about the new changes with a specific end goal to
producer the best arrangements(Rees and Smith,2017).
CONCLUSION
The above report concluded that strategic management is the most important and
effective procedure which helps an organisation to obtain the best possible result. The present
assignment was in context to Bay street shopping complex which is a successful and leading
organisation in the industry. In addition to this, this report discuss the strategic decisions of the
organisation within the last five years and its competitive position in the market. The report
includes the competitive drivers and its impact on competitive position along with the Internal
analysis tools for having appropriate conclusions. The study also determined various strategies
that Bay street can adapt to sustain its competitive position in the market. Furthermore, the report
determined important recommendations for the Bay street shopping complex in order to achieve
the organisational goals and objectives effectively.
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REFERENCES
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Organizations. John Wiley & Sons.
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Rothaermel, F.T., 2015. Strategic management. McGraw-Hill Education.
Lasserre, P., 2017. Global strategic management. Palgrave.
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978-3658078836). Springer.
Bryce, H.J., 2017. Financial and strategic management for nonprofit organizations. Walter de
Gruyter GmbH & Co KG.
Gamble, J. and Thompson, A.A., 2014. Essentials of strategic management. Irwin Mcgraw-Hill.
Stead, J.G. and Stead, W.E., 2014. Sustainable strategic management. Routledge.
Morden, T., 2016. Principles of strategic management. Routledge.
Durand, R., Grant, R.M. and Madsen, T.L., 2017. The expanding domain of strategic
management research and the quest for integration. Strategic Management Journal, 38(1),
pp.4-16.
Goetsch, D.L. and Davis, S.B., 2014. Quality management for organizational excellence. Upper
Saddle River, NJ: pearson.
Rees, G. and Smith, P. eds., 2017. Strategic human resource management: An international
perspective. Sage.
McKiernan, P. ed., 2017. Historical Evolution of Strategic Management, Volumes I and II (Vol.
1). Taylor & Francis.
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