Business Strategies and Sustainability
Added on 2020-06-03
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STRATEGIC MANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................3ESSAY.............................................................................................................................................3CONCLUSION................................................................................................................................9
INTRODUCTIONFor compete with rival in the competitive business environment it is very important forthe company to adopt such effective business strategy through which it can sustain within themarket for long time. In this manner business strategy is one of the significant technique thatassist to organisation in running its business I the business environment excellently. In additionto this, with assistance of strategic management corporation can also easily carry out its businessactivities and function in effective manner (Houdet, Trommetter and Weber, 2012). In a simpleword it can be said that strategic management is a procedure of planning, controlling, evaluatingand monitoring the business strategy for achieve its determined goal. The current report providesthe detail knowledge about the internal and external environment and its associated factors thataffect the organisation activities and functions.ESSAYBusiness environment is a mixture of external and internal components that affectorganisation ad its business activities in large manner. Thee is great significance of external andinternal factors on the business activities and functions of organisation (Jaber and et.al., 2015).Therefore, company should effectively analyse the impact of these component on theorganisation activities, performance and practices.John Lewis is a one of the most popular chain of high end department store operatingthroughout the UK. It has more than 38100 numbers of employees and 49 stores throughoutEngland Scotland and wales including 12 at home stores and flexible format stores in Exeter andyork. John Lewis have major mission is to produce the high quality of product and services andeffectively satisfy the needs and wants if customers. Another aim of John Lewis is to make itsstaff satisfied so as its staff can become happy with organisation. While staff is satisfied then itsbusiness can be successful. John Lewis wanted to become number one retailer in the UK that iswhy it produces high quality of appeals through which it can meet need of customer. Howeverdue to the technological innovation, retail industry has been drastic changed as compare toprevious (Grünig and Kühn 2015). Recently John Lewis have developed its online mobileapplication through which it will sell its product and services by online manner. Its onlineapplication development have major aim is to provide flexibility to John Lewis customer so asthey can purchase the product and services by online. With help of this online shoppingapplication it wanted to become number one online dealer of appeal in the world. All functional
department of the John Lewis have affected by the innovation and creativity in the technology(Kernbach, Eppler and Bresciani, 2015). In order to attain its determined goal and objective,John Lewis have to focus on the several factors of thee internal and external businessenvironment. Analysis of this environment with respect of John Lewis are as follows-Political- Political factor includes the governmental interference by its imposed policies,practices, code of conduct, rules, regulation, legislation etc. This is very significant factorthat affect the business operation and activities in large manner. John Lewis have tofollow the each and every legislation and regulation which is imposed by the government.In the UK government is deciding to decrease the corporation tax from 30% to 28% thatassists to John Lewis in increasing its profit in the future (Gonzalez-Padron, Hult andFerrell, 2016). The innovation regarding online shopping application of John Lewis canlargely effect the political factor as cited venture have to follow all regulation, legislation,code of conduct and norms which imposed by UK government with respect of onlineselling, taxation policies etc. The positive impact of this factor on the innovation withinJohn Lewis is that company can securely conduct business on online after registrationand fulfilment of all required documentation of business. On the other hand negativeimpact of this factor on the innovation of John Lewis is that company have makenecessary changes according to changing norms, policies, legislation and regulationwithin the countryEconomical- This factor is related to the country economical condition which includedrecession, inflation, interest rate etc. This factor directly affect the prices of product andservices within the John Lewis. While within the country recession occurs then it directlyaffects prices of commodity (Doeksen and Symes, 2015). The positive impact of thisfactor on the John Lewis is that it assists to organisation in setting pricing strategy ofproduct and services. The negative impact of this factor is that recession may affect thebusiness in negative manner as it directly affect the profitability.Social and cultural- This factor is directly related to the customer taste, preferences,culture, region, background etc. While any organisation comes in the market then it hasto understand the actual taste, preferences, culture and background of the customers so asit can meet their requirement regarding product and services (Bull and et.al., 2016).Changing customer preferences, taste and choice is direct affect sales and profitability of
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