Report on Strategic Management - BMW
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Added on 2020-01-23
Report on Strategic Management - BMW
Added on 2020-01-23
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Strategic Management
TABLE OF CONTENTSAbstract ...........................................................................................................................................3INTRODUCTION...........................................................................................................................4Task 1...............................................................................................................................................41.1 Market share..........................................................................................................................41.2 External analysis using PESTLE...........................................................................................41.3 SWOT ANALYSIS OF THE COMPANY...........................................................................61.4 Description of the internal culture and company structure....................................................71.5 Company structure.................................................................................................................81.6 Current strategy of BMW......................................................................................................8Task 2...............................................................................................................................................92.1 Red Ocean And Blue Ocean Strategy....................................................................................92.2 New Strategies For The Brighter Future..............................................................................112.3 Things needs to be undertaken To Follow New Strategies.................................................12Task 3.............................................................................................................................................133.1 Challenges For Implementation...........................................................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................16
ABSTRACT Strategic management is an essential part for the organizations which are working atinternational level. The present report is based on the BMW which is one of the leadingcompanies in automobile sector. The main objectives of assignment are to analyze the currentsituations of the company in to the international market. From external environmental analysis, ithas been assessed that political, economical, social, technological, legal and environmentalfactors have significant impact on the business operations as well as functions. It can be seen inthe report that now customers place high level of emphasis on sustainable business environment.Thus, by introducing eco-friendly vehicles BMW owner can attain success. Besides this, it canbe presented that blue ocean marketing strategy is highly significant which provides high level ofassistance to firm in gaining competitive edge over others. Along with this, it can be presentedthat balance scorecard approach is highly significant which in turn helps in aligning goals andobjectives significantly.
INTRODUCTIONStrategic management can help to the companies which are working in the internationalmarket to improve their strategies in stages. Strategic management will allocate all its resourcesin a way that they can achieve the goals and earn maximum profit by its business entity (Kumar,Adhish and Deoki, 2014). In this the company will make the certain rules to be follow toimplement its marketing plan in the market. BMW is the German company which manufacturesthe cars and motor cycle. BMW is having target only on premium segment of population that'swhy prices of cars and bike are always high as compare to the the market competitors. BMW ishaving all three of its group in UK that is BMW, mini and rolls Royce. Beside the manufacturingwork BMW is also has the marketing sales unit in the UK. The worth of BMW till the date is$60.4 billion. BMW also provides the financial services in UK. BMW is famous for its high techtechnology and design in there products.TASK 11.1 Market shareBMW is an international brand and they have ranked on third position among the top carmanufacturers in the world and its holding no.3 as market share according to the statistical dataof year 2016. As compare to BMW to other car manufacturers last year BMW is having thehighest selling cars. It is having the 6.66% market share in UK, BMW has the profit from itsgroup as well the remaining two group that is rolls Royce and mini. As this proportion the BMWis the highest earning auto-mobile industry in the economy (Kaplan and Norton, 2016). But asthe year of 2017 started BMW faces the huge challenges from the other auto mobile companiesin different ways like; technology, design and management but it come with its better policieswith help to retain the company. As they are working in the premium car market they are havingdifferent market competitors like Mercedes Benz, Audi, jaguar, range rover, Porsche,Volvo etc. 1.2 External analysis using PESTLEPESTLE is tool which can be used for analyzing the external environment of theorganization. External environment is more dynamic and it is not under control of theorganization. It can help to the company to take some measure as a precaution but do not totally
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