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Strategic position - Assignment

   

Added on  2020-11-12

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Strategic position
Strategic position - Assignment_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Current strategic position of Morrisons..............................................................................12. Challenges faced by company............................................................................................53. Evaluation of various solutions company could use to address one of these challenges...64. Practical implication of the chosen solution.......................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
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INTRODUCTIONStrategic Position could be termed as the overall intended objectives and approach to asituation. It is the responsibility of business managers to develop strategic position carefully andshould take considerable steps in order to communicate it to staff clearly so that all the effortscould be directed in one single direction i.e. achievement of organizational goals. In thepresented project report, research is undertaken on Morrisons, which deals in retail products andfresh food. In this paper, current strategic position of the company is analysed and emphasiseddeeply and briefly with the help of SWOT and PEST analysis of Morrisons. Further, research is also conducted to highlight the challenges that company will befacing over the next 3-5 years accompanied by their solutions of various challenges beinghighlighted. Evaluation is also done of these solutions in order to address one of thesechallenges. Moreover, importance is shown of practical implementation of these solutions at thecompany.MAIN BODY1. Current strategic position of MorrisonsWm Morrison Supermarkets plc. in a company in retail industry and deals in productsrelated to lifestyle and retail. This company is known for its quality fresh food across UK.Strategic position of Morrisons could be estimated with the help of 4 step process andSTP(Segment, target group and positioning).Morrisons STPSegment: In this identification is done of bases for segmentation which helps indetermining important characteristic of each market segment. It also includes customersand people looking for price, freshness and convenience.Target Group: Morrisons targeted group is households, to whom delivery could be doneof fresh and quality foods.Positioning: Morrisons have a food offering with broad appeal i.e. from Aldi toWaitrose.Determining strategic positionStep 1: Strategic IssuesThese type of issues are developed and identified on the basis of input that is made fromthe planning team (Bohari, Hin and Fuad, 2017). Strategic issues of Morrisons includes:1
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1.Due to recent budget cuts and lay off 's, staff morale is low.2.Impact of health legislation is likely to erode margin.3.Current value proposition is not resonating with customers.Step 2: Environmental ScanEnvironmental scan is a process that systematically surveys and interprets relevant datato identify external opportunities and threats. An organization gathers information about theexternal world, its competitors and itself. Following is the PEST analysis of Morrisons:PoliticalEconomicalAfter Brexit there was a lot ofuncertainty due to change in policiesand regulations. This resulted in drasticchange in market demands of theproducts of Morrisons.Multiple government legislation on UKfood retailers had a huge impact on theorganization.Brexit created inflationary pressuresand caused significant fluctuations incurrency. Due to the economy was dropdown resulting in losses in businessesof Morrisons.Rise in oil price resulted in tighteningof household budgets for consumers.SocialTechnologicalVarious business opportunities that arepresented by rising age population.Growing health concern amongcustomers in UK. Consumers willprefer to have fresh food in whichMorrisons deals therefore poses as aopportunity for business. Investment in technology has helpedbusiness in reducing its wastage ofefforts and also assisted in making thebusiness more efficient and responsiveto customers. Need for having the latesttechnology arises in Morrisons.In order to identify the emerging trendsand to better serve customers digitaldata is used (Bradbury and Day, 2016).Continuous focus is made on researchand development to build in-housesoftware and systems.Step 3: Competitive Analysis2
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