Business Strategy: External and Internal Environment Analysis

This document provides an overview of the framework for external and internal environment analysis in business strategy. It discusses the use of PESTLE framework to analyze macro environment factors and the VRIO framework to analyze organisational capabilities. The document also includes a case study on Aston Martin Lagonda.

UNIT 32
Business strategy

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Framework for external environment analysis......................................................................1
M1. Critical analyses of macro environment for determining as well as informing decisions
related to strategic management...................................................................................................4
TASK 2............................................................................................................................................4
P2. Framework for analysing internal environment along with organisational capabilities........4
M2. Critical analyses of internal environment fro assessing strengths and weaknesses of firm's
internal capabilities structure along with skill set........................................................................7
TASK 3............................................................................................................................................7
P3. Model of Porter's five forces.................................................................................................7
M3. Devising appropriate strategies for improving competitive edge as well as market position
as per the outcomes......................................................................................................................8
TASK 4............................................................................................................................................9
P4. Range of concepts and theories along with strategic plan.....................................................9
M4. Strategic management plan having tangible as well as tactical strategic priorities as well
as objectives...............................................................................................................................11
D1. Critiques along with interpretation of information.............................................................13
CONCLUSION..............................................................................................................................13
REFERENCES................................................................................................................................1

INTRODUCTION
Business strategy is described as action planning for long duration that is formulated for
attaining set of objectives (Allen and Truman, 2016). In short, business strategy is a master plan
which is designed and implemented by organisational management to carry on key operations for
achieving desired business ends. The administrators of all entities carefully plans as well as
designs business strategy with the aim to gain command on dynamic situations, achieving
effectiveness, meeting threats with issues, directing efforts, utilising opportunities and securing
advantageous positions.
To understand the aspects of business strategy, Aston Martin Lagonda is considered for
the report. The organisation is well known for manufacturing automobile addition to luxury
products. The report involves application of frameworks for analysing macro environment fro
the entity. In addition, it also include appropriate utilisation of frameworks for analysing internal
environment together with capabilities of the firm. Further, Porter's five forces model is applied
and evaluation of competitive forces about market sector of the organisation is done. At last,
wide range of models, concepts as well as theories are also applied along with strategic
marketing plan.
TASK 1
P1. Framework for external environment analysis.
Organisational profile: Aston Martin Lagonda is well recognised independent
manufacturer within automobile industry. The entity was established by Lionel Martin along
with Robert Bamford in 1913. The firm has around 2500 employees working at distinct
premises. The headquarters of the firm are situated at Warwick, United Kingdom. The company
manufacturers luxury sports car as well as grand tourers (Aston Martin Lagonda. 2019). In
addition, it has around 150 car dealership in nearly 50 countries within 6 continents that makes it
global automobile brand. The vision of the entity is to build sustainable luxury business for long
term. The mission of Aston Martin Lagonda is to become best in every area of business. The
entity has objective of designing luxurious products having modern styles addition to elegance.
Macro Environment: The broader economic situations as opposite of particular region
sector is termed as macro environment. In other words, the uncontrollable factors which
influences decision making of the organisational management along with affects strategies and
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performances of the business falls under macro environment. The strategic planning manager of
Aston Martin Lagonda uses PESTLE framework for analysing elements within macro
environment so that they can formulate effective strategies fro coming time period.
PESTLE Framework: It is one of the tool that is used for analysing together with
scanning macro environmental factors that impacts overall business to large extent. It involves
six elements that needs major emphasis by business managers while operations activities. The
elements includes political, economic, social, technological, legal and environmental. Strategic
planning manager analyses all these elements in details. Following is the description of PESTLE
framework:
Political: The ways and extent of which political systems intervenes in a country is
reflected by political factors. It includes regulatory practices of government, judiciary
independence, taxation policies, political stability and tariff barriers. Aston Martin Lagonda
having strong presence within UK, having stable political conditions impacting in positive
manner as it ensured sustainability and development of the firm within the nation (Alstete and
Beutell, 2016). Due to some anticipated events like no-deal Brexit resulted in unstable political
environment that became that for the entity as the political system has imposed various
regulations, taxations, legislations and tariffs on importing and exporting materials or finished
products between EU and UK that impacted on negative manner on sales volume of selected
entity as the management has to work as per the imposed aspects and it is very difficult for
management to change their decisions and strategy in short term. In order to ensure more sales,
the company should assess to new market where there is political stability which will help in
making relations with new country and increasing sales volume.
Economic: The factors connected with economy of nation such as business cycle, fiscal
policies, foreign exchange rate, price fluctuations in international or domestic market and
inflation rate. It reflects the entire performance of a country as per economic grounds. The
growth of electric vehicle market in UK is expected to reach around $1.5 trillion dollars in
coming duration (Global Personal Electric Vehicle Cars Market Report. 2019). Hence, it is a
opportunity of Aston Martin Lagonda to make investments for developing electric sports car and
vehicles. As the organisation holds huge market shares within UK, it can result in drastic
changes when rate of inflation are increased due to fluctuations in international market. It states
that various challenges could be faced by managers of the company while sourcing raw materials
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or other electric resources on desired rates that can impact on negative manner of decisions of
managers as they have to make more payments for such purposes.
Social: The areas that include shared beliefs and population attitude are considered as
social factors. It involves customer buying behaviour, education level, social awareness levels,
demographic trend, attitude towards savings, level of immigration and society norms. In context
to Aston Martin Lagonda, the social conditions of UK market are favourable with entity due to
lifestyle preferences of population are sharply aligned with luxury cars offered by the business.
Hence, it can impact in positive ways when selected entity designs cars or vehicles that reduces
carbon foot print impacts then more population will be attracted and huge sales will be
accomplished. At same time, in current era, population of UK is more preferring public
transports then using their private ones that impacts the company in negative manner as the
change will become threat for future expansion as well as overall strategies of business.
Technological: Technology is one of the fast disrupting model within UK (Buckley and
Ghauri, 2015). Pertaining technological trends within UK are artificial intelligence development,
usage of machine learning, intellectual property rights, Fin tech services and growing concern of
platforms over service distributors. UK technological environment is effective when
technological advancements are considered as more investments are made by entities within
automobile sector in order to adapt better techniques as well as equipments. It can be a
opportunity for Aston Martin Lagonda as the management team can adopt the innovations and
can design and manufacture innovate cars that have advancement in context to technology. At
same time, rapid technological advancement in the pertaining sector can impact in negative ways
as technology becomes obsolete in no timings that will reduce life of cars or grand tourers
resulting in decreasing brand image in market.
Legal: Legal factors governs various conditions for entering in market as various laws
operates within the market. In UK, the government authorities have imposed legislations like
business laws, transparency in judicial procedures, data protection laws, securities law and
legislations related to restrictive trade practices as well as monopoly. In context to Aston Martin
Lagonda, the legislation related to protecting intellectual property can result in positive impacts
as the company will have opportunity to protect strategies about developing new car or vehicle.
However, when government makes modifications in the legislative system of in various laws due
to some market conditions then it will become difficult for the selected entity members to make
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changes within the policies frequently which will result in negative impacts as changing policies
not be suitable by managers and may harm the reputation of business when not effectively
implemented.
Environmental: The elements associated with carbon footprints, climate as well as
protecting environment are part of environmental factors. It includes recycling policies, influence
of environmental agencies, consumer activism level regarding environmental concerns and waste
management. Within UK, there are various regulations in context to environment that are
mandatory for Aston Martin Lagonda has to comply (Charles Jr, Schmidheiny and Watts, 2017).
As the organisation has prominent image for manufacturing automobile products that reduces
consumption of fuel while functioning. Organisational strategy may get influenced when any car
that they manufactures leaves negative impacts on environment then changes within the policies
are required to eliminate effects.
Porter's Diamond Model
The model is generally used at companies to analyse external competitive environment. It
describes relative strength of a business against others. It comprises four determinants that plays
important role in the field where a business operates. The managers of Aston martin Lagonda
uses this model to determine the role of four determinants within UK market. The description of
four determinants are as follows:
Factor condition: Within UK, this determinant exists for making the automobile industry
more competitive due to presence of various resources with the nation. The factor condition
which exists to produce Aston Martin Lagonda more competitive is availability of specialist
establishments that produces special cars that influences strategies of the company in positive
manner.
Demand condition: Within UK, there is intense home demand for automobile vehicles
as consumers expecting better as well as best cars. As selected company provides consumers the
best cars with greater performance level that influences the strategies and business of Aston
Martin Lagonda for manufacturing cars in with such techniques that meets customer
expectations.
Related as well as supporting industries: Within UK, various related industries addition
to suppliers exists that makes the nation and industry of automobile more competitive. Company
like Aston Martin Lagonda and its strategies are influenced with such determinant as there are
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huge presence of international suppliers as well as success of one sector is dependent on other. If
one industry or suppliers changes their policies then it impacts on workings of selected business.
For instance, Aston Martin Lagonda can share its access to wind tunnel and with such resource
usage within nation can build competitive advantage that will help in enhancing barriers to entry
for others.
Firm's strategy, rivalry along with structure: Firms' competitiveness with one country
is determined through the ways businesses set structure along with strategy themselves. Intense
rivalry within UK can cause innovation drives due to which Aston Martin Lagonda have to
modify its strategies for driving innovations which will make company successful internally
resulting in positive impacts.
As per the above analyses of external external, it can be said that PESTLE analysis
provides various advantages to Aston Martin Lagonda as it provides mechanism for identify as
well as exploiting new opportunities and company can develop alternatives through strategic
thinking in order to overcome from external factors impacts. At same time, using the tool is very
complicated and comprehensive. The results obtained from the analysis are only based on
assessment and may not be useful for the company many times.
M1. Critical analyses of macro environment for determining as well as informing decisions
related to strategic management.
Aston Martin Lagonda is biggest firm that operates globally within automobile sector.
For determining factors that affects business along with devising strategic management
decisions, managers are required to conduct external macro environment analysis. Such analysis
directs Strategic Planning Manager of organisation like Aston Martin Lagonda to frame future
strategies. Political regulations that are changes by government when ruling party changes can
result in negative impacts as business has to change their existing w strategies accordingly.
Social elements like customer demand and preferences with advancements within technological
factors are not properly analysed then may decrease sales volume of cars along with business
revenues resulting in negative impacts (Chatterjee, 2017). At same time, when management do
not comply with legal factors then have to pay penalties. For minimising negative impacts of
factors it is essential for selected entity to enhance their awareness of pertaining circumstances so
that effective strategies can be framed accordingly.
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TASK 2
P2. Framework for analysing internal environment along with organisational capabilities.
Internal environment: It is composition of all the elements that exists inside the
boundaries of firm, including value system, organisational structure, management, physical
resources, existing manpower and corporate culture that describes employee behaviour.
Management team have effective control on internal environment. The suitable model for
analysing internal environment is VRIO framework as it determines all the elements resulting in
negative impacts on organisational functionality.
VRIO Analysis: A business tool that is used for analysing internal resources addition to
organisational capabilities for gaining advantages within competitive environment. In other
words, it is business analysis framework that is used to form larger strategic schemes for
business. Through such framework, strategic planning manager of Aston Martin Lagonda
determines factors which are strength and weaknesses of entity (Harmon, 2019). Organisational
resources are as analysed:
Organisational
capabilities
Valuable Rare Inimitable Organised
Market share ✔ ✘ ✘ ✘
Manpower ✔ ✔ ✘ ✘
Brand image ✔ ✔ ✔ ✘
Research ✔ ✔ ✔ ✔
Valuable: It states that whether or not organisational capabilities works for mitigating
threats or exploits opportunities within market place. As per the above table, Aston Martin
Lagonda utilises four major resources while carry forwarding operational activities that re
valuable for business concern as all helps in achieving predetermined goals and ensuring ease
entrances in various markets. Market share, manpower, brand image along with research are
strength of selected form as they all plays key role in executing all types of operational activities
within dynamic market in systematic order.
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Rare: It determines the uniqueness of valuable resources against set of existing along
with potential competitors. All the resources from the above table that are rare for Aston Martin
Lagonda except market share due to presence of rival companies that has already captured huge
proportion of market place (Hickman and Silva, 2018). However, the rest of capabilities
including manpower, research as well as brand image are rare for business concern as
management team uses distinct policies or strategies in order to effectively manage them.
Imitable: It states whether a firm finds difficulty in searching equivalent substitute in
order to compete with the offerings. The capabilities that can be copied by other companies falls
under inimitable. Manpower of Aston Martin Lagonda is inimitable as other firms grab attention
of human resources through offering higher salaries and other benefits. Research addition to
brand image of selected organisation are the capabilities that rivals can not imitate as top
authorities pays huge attention on these two capabilities.
Organised: By properly organising resources or capabilities, business concerns enjoys
time duration of sustained competitive benefits. Among all the capabilities of Aston Martin
Lagonda, the unorganized capability is brand image due to huge competition level within
automobile sector. Research activities are properly organised as it directs strategic planning
manager to identify the market demands and accordingly design new car models.
McKinsey's 7s model: One of management model that was introduced by McKinsey
with the aim of facilitating entity to maintain various soft as well as hard elements. The elements
are as explained in relevance with Aston Martin Lagonda:
Strategy: For operating activities of entity in systematic manner it is essential to devise
effective strategies. Aston Martin Lagonda company is opting product development strategy
wherein they launches variations of cars for remaining in competition within the automotive
industry.
Structure: It is combination of corporate hierarchy, divisional make-ups that describes
the ways in which operative are interconnected with functions. Aston Martin Lagonda has
successfully implemented functional structure where in organisational groups executes activities
as per similar set of functions, roles and tasks.
System: The procedures, decision making as well as workflow which makes standard
operations are systems. Aston Martin Lagonda emphasis more on marketing systems addition to
technological systems to acquire growth.
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Style: The approaches used by managers or leaders to lead business and influence
corporate culture is said to style. The leaders of Aston Martin Lagonda follows effective
democratic leadership style to supervise manpower for their developments.
Staff: These are the human resources of an institution. Aston Martin Lagonda has
productive staff and are trained to accomplish predetermined tasks that contributes in
development of company.
Shared values: The common accepted standards addition to norms that influence
behaviour of employees and management are shared values. At workplace of Aston Martin
Lagonda, administrative have set distinct shared values in context to compensating people that
motivates them to work more.
Skills: Talents and capabilities that are within manpower of firm and management are
skills. The management committee of Aston Martin Lagonda, focuses more on critical thinking
skills, problem solving skills, technological skills, communication skills and decision making
skills among employees as to attain long term objectives.
M2. Critical analyses of internal environment fro assessing strengths and weaknesses of firm's
internal capabilities structure along with skill set.
Internal environment is analysed through SWOT analyses while organisational
capabilities and skill sets are analysed by using VRIO framework. VRIO framework shows
resources which Aston Martin Lagonda has acquired such as manpower, research, market image
addition to brand image. Selected firm has limited presence within global market which affects
the market share as well as sales volume that is weakness for it (Jansen, 2017). However, the
firm has heavy duty manufacturing addition to designing team and innovative capacities that
executes activities to build strong business reputation and with this they grab knowledge about
technological advancements which is its strength.
TASK 3
P3. Model of Porter's five forces.
It is important for business organisation to assess the industry attractiveness, to state
forces prevailing in business sector which are impacting on business industry. This helps to gain
the competitive advantages by comparing with other and sustain profitability. The porter forces
are used by Aston Martin Lagonda in order to run their competitive business such as:
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Bargaining power of Suppliers: This forces is related with bargaining power of
suppliers who sale their raw material to business organisation for the purpose of manufacturing
finished goods. In context to Aston Martin the supplier bargaining power is moderate as in UK
are having selected suppliers who supply better quality of raw material to organisation which
increases the productivity of organisation. Therefore it may be a critical path for selected
organisation to purchase the raw material according to suppliers who can charge extra amount
from their customers. As resulted it has to pay extra charges to produce the sports cars and other
luxurious cars. The positive effect of this force on company is that company can analyse existing
suppliers and accordingly frame plans to deal with each where as negative effects are that
company have to make additional payments to make effective relationships with suppliers as to
get required resources.
Bargaining power of Buyers: This means buying power of buyers by analysing the
products and services. If buyers are more and curious to purchase high and luxurious products
then they get ready to pay extra also (Johnson, 2016). In context to Aston Martin Lagonda,
bargaining power of suppliers are low because they knows such company provides better quality
of cars with unique features which helps to maintain a high status. This forces gives an
advantage to such organisation to set the prices of their products as they wants because
customers have low bargaining power which helps to gain competitive advantages also. The
positive effect of this force is that company satisfies demand of buyer by delivering then their
products but negative effects are that company have to negotiate or cut prices as per buyers terms
and conditions.
Threat of substitutes: This refers as commodities which can be used in place of others is
deal by business organisation. If substitute of products are available in market then it become
challenge for organisation to sale their products against substitution. In context to auto mobile
industry, there are various substitution available in market which can be used by customers that
creates threat for the company. For instance, substitutes that are in front of customers are public
transport such as bicycles, buses and taxis against Aston Martin Lagonda. When customers
switch to these substitutes then the products of company remain unsold that limits its competitive
benefits.
Threat of new entrants: This refers as entry of new business in market which defined
the increment in competition. In UK market, the entry of new business is limited which helps
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Aston Marting Lagonda to sale its products in high number by developing the new technology
and design of cars. It is not easy for every business to enter in to new market as it need huge
investment and technology which could be risky hence it make low threat of new entrants. The
positive effect of the force is that company can enjoy competitive environment and negative
effect is that when new entrant comes than market shares gets shaken.
Competitive rivalry: This is most prominent forces in business sector that states the
competitor rivals in similar business. In context to Aston Martin Lagonda, it is under aggressive
competition such as Volkswagen, Tesla, BMW, Ford etc. can be major threat for such
organisation. To deal with this factor, Aston Martin is producing luxurious, reasonable and
comfortable cars which helps to create high market in competitive business. The positive effect
is that company can devise various strategies to face the competition but negative effect are that
company's working gets hampered when huge competition is there.
As per above discussion, it can be said that using Porter's five force model will provide
various advantages and disadvantages to Aston martin Lagonda. The advantages that the model
provides are that it helps in gauging level of competition, planning upcoming activities and
effectively dealing with suppliers as well as buyers in the competitive environment. At same
time, the disadvantages of using it are that the model ignores various factors that are pertaining
within the surroundings. In addition, the implementation of the model is restricted at some level
due to lack of positive points that makes an industry fit. Hence, the model provides disadvantage
to Aston Martin Lagonda of ignoring shortcomings and leaping opportunities.
M3. Devising appropriate strategies for improving competitive edge as well as market position as
per the outcomes.
Strategic planner of Aston Martin Lagonda can utilise strategies to improve competitive
edge addition to market position through effectively using Porter's five force framework. The
management team can carry out extensive research for identifying trends together with
technologies that are emerging within automotive industry. Competitive rivalry with help in
carefully understanding current competitors and their working styles along with strengths that
company have against them (Keyes, 2016). The company should also focus on suppliers
bargaining power during purchasing raw materials. All this will help selected business to come
up with stylish and unique car models that will cater in enhancing market position as well as
competitive edge of business.
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TASK 4
P4. Range of concepts and theories along with strategic plan
As per above analysed situations, strategic planners of Aston Martin Lagonda are
required to follow strategic direction through which functions are performed in better manner to
gain huge edge of competition together with high market shares. For this, Porter's generic
strategies along with Bowman's extended model are appropriate frameworks which provides
various aspects through which activities can be performed with pace. The frameworks are as
discussed:
Porter's generic model
It was defined by Michael Porter to determine directions for the business. The model
illustrates the strategies that a company should adopt to pursue competitive advantage within the
market scope or the sector in which they executes activities. Among the strategies, it is essential
for the administrators to choose clear option to beat competition (Porter's generic model. 2019).
The four strategies within the framework are as discussed:
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Illustration 1: Porter's generic model. 2019
(Source: Porter's generic model. 2019)
Cost leadership strategy: With this, a business fulfils the objective of becoming lowest
cost producer with the sector. To become lowest cost manufacturer in automobile industry, this
strategy can be chosen by strategy planners of Aston Martin Lagonda. They will manufacture
cars or other grand tourers on bulk quantity and will exploit economies of standards. By using
this, company has to keep the cost of cars at possible low rates as well as have to ensure that they
have larger market shares with affordable rates.
Differentiation strategy: The business concerns having objective to distinguish with
small volume of target market segment. Using the strategy the managers of selected firm can
manufacture cars with unique attributes or features that are different from others within
automobile sector. It will require innovation, huge market research as well as potentialities for
delivering high quality of grand tourers addition to sports cars.
Focus strategy: Herein, if Aston Martin Lagonda is planning to emphasis on specific
niche market and to develop low cost as well as well specified cars, then focus strategy is best.
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With this strategy, selected firm can serve customers is unique manner and can build strong
loyalty of customers towards the brand (Kono, 2016).
From the above strategies, strategy planning manager of Aston Martin Lagonda can use
focus strategy through which they can serve their services to specific market where they can
provide unique car models at low prices which will help in improving their market share and
customer base within the market. Selected company can launch tailor made luxury cars for
attracting potential clients in the market.
Bowman's extended model
The model shows the ways in which a firm position its commodities based on two
dimensions such as price and perceived value. It involves various types of positions and if the
management of a entity understands all the position then they can better analyse as well as
evaluate their current strategies. The eight types of positions are low price as well as low added
value, low price, monopoly pricing, differentiation, risky high margin, market share loss, focused
differentiation and hybrid position (Bowman's extended model. 2019). Among all, Aston Martin
Lagonda should adopt the position of hybrid in which they can use product differentiation.
Herein, the products will be more valued and more emphasis will be on reasonable prices as
compared with rivals. The company will be able to convince the customers by delivering good
added value that will benefit in enhancing market shares.
M4. Strategic management plan having tangible as well as tactical strategic priorities as well as
objectives.
Strategic management plan can be said to a document that business uses for setting
business goals, configuring resources, setting priorities, strengthening operations and ensuring
that all stakeholders with available manpower are working for achieving common objectives. In
other words, it is said to overview of strategies, objectives addition to tactics that are devised to
accomplish mission with vision of firm. The strategic plan as devised by strategic planning
manager of Aston Martin Lagonda is as follows:
Procedures Description
Vision The vision of Aston Martin Lagonda is to develop
sustainable luxury car company for long term.
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Mission The mission statement of the firm is to become best in
diverse business areas.
Objective To increase market share of Aston Martin Lagonda by 10%
till 2020 by launching tailor made luxury grand tourers
together with sports car.
Strategy For effectively introducing tailor made cars in the market of
UK, Aston Martin Lagonda would be focusing on following
key strategies:
 Extensive marketing.
 Adopting hybrid as well as focus strategy for market
expansion.
 Digital marketing.
Tactics For attaining objectives effectively and timely, Aston Martin
Lagonda would emphasis on two tactics, that are using
technological advancement as well as value addition (Lee
and Lee, 2016). In addition more emphasis should also be
given on marketing mix also:
Product: Aston Martin has planned to introduce tailor made
car which will enhance opportunities for clients to make
modifications in standard car model according to their needs.
Price: Estimated cost of Tailor made car will be around £
72000.
Place: New car will be available at showrooms of Aston
Martin Lagonda.
Promotion: By using social media as well as digital
marketing techniques, promotions will be done.
People: Teh manpower of selected firm will be provided
adequate training programs to design the new model with
precision so that high contentment will be delivered.
Process: to manufacture the new model lean principle will be
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used as procedure.
Physical evidence: It will be as per the satisfaction
customers gets by purchasing new model.
Evaluation Key performance indicator will be used to analyse
performance as well as project success in context to
introducing tailor made car.
D1. Critiques along with interpretation of information.
Business strategies together with plans are considered as key component for an enterprise
as they plays huge role in achievement of aims on predetermined time. Aston Martin Lagonda
being top company to manufacture grand tourers within UK. The entity should identify the
impacts that external forces have in its key operations. SWOT analysis along with VRIO
framework helps to determine internal strengths with weaknesses along with internal capabilities
(Whittle and Myrick, 2016) . This will benefit the business concern in analysing their
competitive advantages. Among various strategies, selected entity can opt one to achieve its
objectives.
CONCLUSION
The above discussion concludes that business strategy will act as guidance while
executing activities to target al the objectives within specified duration. It is too important for all
the firms to make effective strategies for enhancing competent positions through offering its cars
within potential market. PESTLE Model suited best for analysing the changes within external
factors and their impacts. SWOT model was used to determine strengths as well as weaknesses
along with opportunities with threats. In addition, VRIO model is used for ascertaining
organisational capabilities along with resources that benefits the most to the entity. Porter's
generic model as well as Bowman's extended model are also used for devising strategic planning.
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