Unit 32. Business Strategy Assignment
Added on 2021-07-14
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Business DevelopmentLeadership ManagementProfessional Development
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Unit 32Business Strategy
Table of ContentsIntroduction......................................................................................................................................3Company overview..........................................................................................................................3LO1..................................................................................................................................................4P1 Applying appropriate frameworks analyse the impact and influence of the macroenvironment on an organization and its strategies.......................................................................4M1 Critically analysing the macro environment to determine and inform strategic managementdecisions......................................................................................................................................8LO2................................................................................................................................................10P2 Analysing the internal environment and capabilities of a given organisation usingappropriate frameworks.............................................................................................................10M2 Critically evaluating the internal environment to assess strengths and weaknesses of anorganisation’s internal capabilities, structure and skill set........................................................13LO3................................................................................................................................................15P3 Applying Porter’s Five Forces model evaluate the competitive forces of a given marketsector for an organization..........................................................................................................15M3 Devising appropriate strategies to improve competitive edge and market position...........17LO4................................................................................................................................................18P4 Applying a range of theories, concepts and models, interpret and devise strategic planning...................................................................................................................................................18M4 Produce a strategic management plan that has tangible and tactical strategic priorities andobjectives...................................................................................................................................20D1 Producing a set of valid strategic directions, objectives and tactical actions......................21Conclusion.....................................................................................................................................23References......................................................................................................................................24
IntroductionFor the expansion of business, the organization takes different techniques to be in a competitiveadvantage. Hence different projects get introduced like being international, developing a newproduct, marching on new market and so on. These projects are well managed by the properexecuting of business activities. This report will be based on the activities of Boots UK, which isa UK-based company. Various business activities of Boots UK are giving birth to differentchallenges which can bring the positive result into the system if they are well managed. Hencethese challenges should be considered as the business objectives to get them attained within aspecific time. The business activities can get the increase by the proper management of thespecific issues. However, different strategies are also implemented for the management of it. Company overviewBoots UK is a British health and beauty retailer which has almost more than 200 stores aroundthe UK. On the other hand, the Pharmacy chain of Boots UK is also available in the context. Ithas such a big chain of management which assures that £10B revenue in an annual basis. It hasmore than 60,000 employees working under the organization. It mostly serves in the areas of UKand Ireland. Hence, the organization is working on the skin care and beauty treatments alongwith the Pharmacy business.
LO1P1 Applying appropriate frameworks analyse the impact and influence of themacro environment on an organization and its strategiesThe external environment plays an essential role in the development as well as misleadingdecisions in the business organization. That is why it is very important to analyze the externalenvironment properly. In this case, some strategies need to be applied in the phase and for thatthe mission, vision and objectives are needed to be very clear (Bryson, 2011). The mission,vision and objectives of Boots UK are stated in the following table. MissionsThe mission of Boots UK is to create a strong base of customers and grabthe leading position in the market. That is why;another mission is toprovide better customer service to the customers. VisionsThe vision is to become one of the leading companies in the world and aresponsible citizen which is admired by the customers. Hence maintainingcorporate social responsibility is very essential for the company. ObjectivesThe prime objective of Boots UK is to become one of leading businessorganizations in the world. Hence, the biggest objective is to make spacefor attaining business goals through providing better service to customers. Figure: Significance of implementing strategy (Bult-Spiering and Dewulf, 2018)Strategy and role of strategyBusiness organizations have different objectives to attain and without the proper implementationof business strategies it will not work in the long term achievements. Hence, strategy is a plan
that is used for the management of long term goals in order to attain the business objectives.Boots UK have different business goals which are needed to be managed using different businessstrategies (Cihlar, 2014). The business strategies will be suggesting different ways of sorting outthe issues which will be helpful for running a business. The strategies are effective in terms oforganizing the operations of the business and implementing in the performance. The marketing plans are also managed with the help of strategies. It will also increase the growthof the organization. The strategies will assist to get the control over the organization and it willassist to get the strategic alliance for efficient improvement. The external environment will bringdifferent organizational changes which can also be tackled with the help of implementation ofstrategies (Davies and Crane, 2013). Hence, it can be said that, strategies can be very effectivefor the Boots UK Company.Stakeholder analysisStakeholders are the customers, employees, investors, suppliers and so on. The stakeholder playimperative role in the management of the business. Through the stakeholder’s analysis Boots UKwill be able to drag a conclusion. Hence, Boots UK have to place a stakeholder’s mapping whichis also considered as the stakeholder’s Matrix. In the stakeholder’s mapping there are basicallyfour concepts on which the entire thing relies on (Deresky, 2010). The factor of satisfactionrelies on the government and law enforcing parties which have the highest power. Figure: Stakeholders’ mapping (Ghemawat, 2013)The employees have the minimal power so in order to control the employees the organization hasto put minimal effort. The factor of managing closely is maintained proper in terms of managingthe users, customers, raw materials. On the other hand, the investors have to manage by the lastfactor of mapping which is keeping the informed. Hence the investors need to be managed by the
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