Business Strategy Assignment - Marks and Spencer
Added on 2020-10-05
13 Pages3896 Words409 Views
TBusiness Strategy
INTRODUCTION...........................................................................................................................1P1 Applying appropriate frameworks analyse the impact and influence of the macroenvironment on a given organisation and its strategies..........................................................1P2 Analyse the internal environment and capabilities of a given organisation using appropriateframeworks.............................................................................................................................3P3 Applying Porter's Five Forces model as to evaluate the competitive forces of a givenmarket sector of an organisation.............................................................................................6P4 Applying a range of theories, concept and models, interpret and devise strategic planningfor a given organisation..........................................................................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10Books and Journals...............................................................................................................10
INTRODUCTIONIn this modern dynamic scenario organisations are facing more exciting and challenges,for this there is an extensive requirement for companies to have proper business strategy in orderto become strategically competitive (Brewster, 2017). Sustainable and continuous competitiveadvantage of a strategy occurs when an organisation implement a business strategy whichbecomes hard for other competitive companies to duplicate the benefits. An effectively businessstrategy include, actions, commitments and decisions which is required by a firm in order attainmore strategic competitiveness and returns. Present report has been conducted on, Marks andSpencer.. Company perform their operations in British retailing sector and engage in the processof offering wide range of products including, furniture, clothing, watches, cosmetics and food. Inthis report formative discussions have been made on, PESTLE analysis which will effectively aidin gaining knowledge of macro environment factors. In addition to this, report covers SWOT andVRIO which helps in taking proper insight of organisational capabilities. In addition to this,Porter's Five Force along with Ansoff matrix is effectively described in this report with the helpof which devising of strategic management plan can be effectively done. P1 Applying appropriate frameworks analyse the impact and influence of the macro environmenton a given organisation and its strategies In order to perform business operations in a successful and effective manner it is essentialfor an organisation to access and evaluate overall macro environmental factors which will helpthem to analyse impact of external factors on the organisation functioning. Marks and Spencerhas effectively conducted PESTEL analyses in order to evaluate macro environment factor:PESTEL Analysis PESTEL analyses is a technical strategy which help a company to evaluate the impact ofexternal factors as develop strategies so to accomplish goals and objectives of company in welldefined manner. This analysis consist different types of factors such as, Economic, Social,Political, Legal, Technical and Environmental. Mentioned below PESTEL analysis of Marks andSpencer is defined:Political: Company has decided to offer their business services in the marketplace ofUnited Kingdom which an integral part of European Union. Market condition in Europe islimited that helps an organisation to enter with an ease and perform business operations. This1
lead towards increase in competition for M&S. For this, UK government provide relation incapitation tax rates from 33% to 29% which aid organisations to gain more profitability form amarketplace. Thus, it is essential for Marks and Spencer to frame formative strategies as peraccording to government rules and regulation which will further benefit them to perform theirfunctions with more ease. Economical: After the condition of Brexit economic system of UK face recession whichimpact on interest rate as they face heavy fluctuations. In order to cope up with this situation it isessential for companies operating their functions in retailing sector to provide their products andservices to customer at a comparative low rate (John Lewis PESTEL Analysis. 2019). Thissituation also affects M&S business operations for which is required for company to cut downtheir rate base of their products and service in order to attract more customer with their newpricing scheme. But this affect manager as it is they may face complications to frame newstrategies accordingly. Social: Cultural aspects of society are dynamically changing that benefits businessorganisations to gain more opportunities as to grab attention of large base of customer towardstheir products and services (Jeston, 2014). In context with, Marks and Spencer introduces theirnew product line of fashionable products in a market place in order to catch attention of newbase of customers. It will benefit M&S to gain more profitability. It can also bring further threatfor company as they are require to frame strategies and policies as per according to their existingcompetitors in order to restrain their consumers to move towards other organisation. Thus, M&Sis effectively developing new set of product and service range accordingly to demand of society.Technological: In this factor concept and usage of technology is considered. In contextwith this, Marks and Spencer effectively encourages online way of shopping in order to reducewastage of paper and making environment paper less. Company keeps on finding differentalternative ways as to facilitate online shopping to their customer. In this company offer theirproducts and services form different location at any time and place. Along with this M&S iseffectively taking advantage of different types of innovative tools and techniques in order toeffectively manage their business operations, this will benefit them to take advantage of differenttypes of innovative technical measures and perform their business operations in best effectiveway. But adoption of new technological measure required large investment of funds. 2
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