Strategic Management: Strategy Evaluation

BSc (Hons) Business Management Top up
BMP6002
Strategic Management
Strategy Evaluation
1

2

Introduction
Strategic management can be defined as and process and practice that includes
developing goals and objectives and this is followed by continuous planning evaluation and
analysis of different requirement through which goals and objectives can be achieved. Its
involves implementation and formulation of major initiatives and goals taken by the company
taken by key managerial personnel (Strategic management.2019). It is being based upon the
resources and environment that is internal and external in which company operates. M&S is
amultinational retail organisation of UK and its headquarter is based at London, where
company specialises in selling home products, clothing and food products, which are mostly
under its own label (Leite, 2020). Present report will brief about the clear purpose, vision,
mission and objectives of the company. The report will brief on the competitive advantage by
using the VRIO framework. It will cover the PESTEL analysis of the company. The report
will address to the application of Porter five Force Model. It will lastly cover analysis of
organisation strategy
A critical evaluation of the value of clear purpose, vision,
mission and objectives in setting the strategic direction of
organizations using examples from selected organisation
The mission statement of the company is to make the quality which is being
aspirational and accessible to everyone, by the depth and range of its services and products
being offered. Mission of marks and Spencer is to bring in the best quality of products
present in the market with the help of using the best material available for the manufacturing,
in the long run and which is accessible to all.
Vision of marks and Spencer is to make the brand much more popular among the
customers, and create the brand image in such a way that it becomes a standard to measure in
the market.
The purpose of company is To add quality value to the customer and product. Service
plays an important role in creating a brands' mission, marks and Spencers is among the
premium customer service provider which helps to boost company's brand image. The
company also focuses on the innovation which is mostly related to the customer needs and
wants, as per the needs and wants of the customers the company change its product and make
changes accordingly (Marks & Spencer's Mission And Values.2020). Marks and Spencer
3

focuses on building trust to its customer to retain the customer for longer time period. The
company provides different vouchers and discount coupons to its customer. For the better
customer engagement and building trust towards the brand.
Objectives of Marks and Spencer are to become leader in Retail Industry whereby
company aims to capture the larger market share in terms of having huge customer base. The
board's objectives is to build with sustainable organisation by consistent and profitable
growth. The objectives is to make sure that company act responsible in meeting the
accountability to its shareholders and wider stakeholders of the company. The main objective
of the company is to implement new inclusive standards of design to ensure company
products and services are accessible to and usable by as many customer as possible. The
objective is to inspire, engage millions of individuals who visit the outlet all across the world
and enhance lives.
Assess the competitive advantage of the selected
company, using the VRIO framework
Competitive advantage refers to the factor that allows organisation to produce product and
services better and more cheaply than its rivalries firm in industry. It allows with the
productive entity to generate more of sales revenues and superior profitability margins as
compared to its market competitors.
This could be understood by means of doing VRIO Analysis which is business
analysis framework which forms the part of company larger strategic scheme. It includes
Valuable- It states that resources of company adds value by enabling defend against the
threat and exploit various opportunities. If its so than the resources is considered valuable.
Resources of M&S are valuable if it increase the perceived value for its customers. This can
be done by the company by increasing differentiation of its offering and decreasing the prices
of same. The resources which are not able to meet up with this condition, lead to have
competitive disadvantage. It is being important on the end of company to constantly review
the resources which are valuable because constantly changing business environment can
result in making resources which are less valuable and useless of all (Ariyani, and Daryanto,
2018).
Rarity- It examines that resources of the company must be rare. Resources which can be
4