Business Strategy

This document discusses the impact of macro environment on organizations, analyzes the internal environment of a firm, and provides insights for strategic management decisions. It includes a PESTLE analysis of Waitrose, SWOT analysis, and VRIO analysis. Find study material and solved assignments on Business Strategy at Desklib.

Business Strategy

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Examining the Impact macro environment over organisation ..............................................1
TASK 2............................................................................................................................................3
P2 Analyse internal environment of firm ..................................................................................3
TASK 3............................................................................................................................................7
P3 Evaluating competitive force of an organisation .................................................................7
TASK 4............................................................................................................................................9
P4 Application of concepts, models and develop strategic plan ................................................9
CONCLUSION .............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Business strategy is a course of action which provide proper guidance and direction to
organisation in order to cope up with all current or emerging market trend for obtaining profit
maximisation in an efficacious and expeditious manner. Along with this, it enable an
establishment to determine its internal and external capabilities that lead them to implement best
strategic decision in order to place their bran in a better position in a productive style. In addition
to this, business strategy assist company to examine its competitive forces which aid them to
allocate required resources into functional areas for attaining increased level of productivity and
profitability (Jones and Comfort, 2018). In regard of this report, Waitrose company has been
advised which is one of the well known supermarket chain and subsidiary of John Lewis
Partnership. It is headquartered in UK and established in the year of 1908. In this study, it
includes application of PESTLE , SWOT and VRIO for determining internal and external
business environment, application of Porter's five force model to examine competitive force.
Finally, implication of appropriate theories or models as well as developing strategic plan for
accomplishing business goal in a better manner.
TASK 1
P1 Examining the Impact macro environment over organisation
Business environment is a combination of micro and macro factors that help firm to gain
sustainable profitability and productivity ratio in an effective style. Due to dynamic nature of
business environment, it directly influence over company's decision making ability as well as its
proficiency rate. Therefore, PESTLE analysis is regraded as one of the best tool which help
organisation to survive competitively among competitors. Hence, PESTLE analysis is a
framework that empower establishment to examine its external factors like competitors,
suppliers, customers and many more and also lead enterprise to take corrective course of action .
Due to this, it aid them to adopt best position in existing marketplace in a better mode. However,
in context of Waitrose, the industry where it operate is highly competitive which impose huge
challenges or threat over firm's profit margin ratio and sustainability (Jocovic and et. al., 2014).
Thus, Waitose manager make an effort to imply the PESTLE analysis into its business unit
which is explained below:

Political: In this phase. It encompasses political stability, government policies,
procedures, rules, regulation and so on that effect company's proficiency ratio. In context of
Wairose, it undergoes with a issue of Brexit which impose intense level of challenge over
company's working culture as it require to adopt modification in its current policies that impose
negative effect over enterprise proficiency. The foremost impact which Waitrose undergoes
because of introduction of Brexit is that there company find risk in maintaining the choice,
quality and durability of food because of inevitable pressure on food prices from higher transport
costs, currency devaluation and tariffs form government (No-deal Brexit puts UK food security at
risk, warn Sainsbury’s, Asda, Waitrose and M&S, 2019). However, Waitrose manager takes an
initiative to overcome its negative influence by adopting Brexit procedures and regulation
within its functional areas that lead them to cope up with market challenge in a better manner.
Moreover, Waitrose is also benefit from political stability of UK government which enable firm
to impose all sort of modification in its business unit effectively that empower Waitrose's
manager to accomplish its organisational objective in an effective mode (Jeston, 2014).
Economical: Under this determinant, it comprises economic growth, interest rate,
inflation or deflation rate, GDP or GNP ratio and many more that impact enterprise brand value.
In relation to Waitrose, recently it face major recession which occurred in UK and that effect
company's Food stores sales performance as it has been decreased by 0.7%, as well as clothing
and footwear retailers had a tough situation because it bring down its sales by 1.3%. This is
because, Waitrose find difficulty in managing its import and export of products or service with
European countries as UK desires to leave EU that directly impact its profit margin and
sustainability (John Lewis store profits crash 50%, 2019). Henceforth, organisation makes an
attempt to decrease its price of product and also launched upmarket line which help them to
retain its existing customers as well as aid firm to capture the attention of new customer toward
brand. With the help of such action, organisation can attain sustainable profitability as well as aid
them to survive productively during recession period in a better manner.
Social: This phase includes demographic elements like population growth, income level,
age, customer taste and preference and etc. which influence establishments decision making
process. In addition to this, there was a huge demand among the population of UK regarding
quality of foods which challenged Waitrose to manage its brand value within competing
industry (Corporate Responsibility Report, 2018). Thus, organisation takes an initiative to

maintain its food quality as well as make an attempt to imply just in time strategy in its business
operation that help them to minimise the wastage of product and lead them to offer best quality
of product or services. However, due to such initiation, Wairose was able to attract large number
of population towards company and also assist Waitrose to improve its overall performance
among targeted customer in an efficacious mode (PESTEL Analysis of John Lewis, 2019).
(PESTEL Analysis of John Lewis, 2019).
Technological: Under this element, it comprises latest technology, advancement,
modernisation and many more that impose huge threat on establishment to attain increased level
of proficiency in a better manner. Additionally, internet shopping is one of the main trend among
UK retailing industry that directly influence the Wairose's sales performance. Hence, company
makes an effort to analyse existing or upcoming market and based on that they make a best
strategic decision. As Waitrose firm adapt innovative technologies like iBeacons (information
regarding promotion, coupons), WaitroseCellar.com, QikServe and Paypal, Quick Check which
help its consumers to buy varieties of products at a convenient manner (4 ways Waitrose plans to
use technology to outsmart its rivals, 2014). Moreover, company also facilitate a provision to its
targeted customers in terms of providing their opinion or experience towards brand that assist
Waitrose to enrich its proficiency ratio and also to enhance overall performance in an trenchant
manner (Reim, Parida and Örtqvist, 2015). Therefore, implication of appropriate innovation and
advancement help Waitrose to improve its overall productivity and proficiency in a improved
way.
Legal: In this aspect, it is concern with political factors like government legislation, laws,
regulation, rules related to functioning the business activities in an improved manner. However,
UK stiffens the health and safety legislation in regard of manufacturing clothes which impact
Waitrose brand value. Henceforth, organisation ensures to comply with all legislation or
regulation related to food safety and hygiene which empower them to decrease the interference
of government into its functional areas that enrich its brand value and also enhance Waitrose
potentiality to attain sustainable profitability ratio in an improved style.
Environmental: Under this factor, it is relate with those aspect which help establishment
to prevent the environment from pollution and to take measure to create environment eco
friendly. However, this component render some negative effect on Wairose as there was a
demand from UK population concerning of social responsibility towards environment from

company. Henceforth, enterprise adopts the idea of recycling, reusing, reducing within its
manufacturing functional unit that lead them to place their brand in a competitive position in an
innovative and productive style.
M1 Critically analyse the macro environment to determine and inform strategic management
decisions
The above mentioned PESTLE analysis, it enable Waitrose to determine its external
factors and its potentiality to face all current or unpredictable market challenges. Along with this,
it lead them to take corrective of action which empower them to gain competitive advantage in a
better manner among competing marketplace (Morris, 2016).
TASK 2
P2 Analyse internal environment of firm
Many tools or techniques are introduced by researchers to study internal environment and
capabilities of organisations. In case of Waitrose VRIO and SWOT analysis techniques are used
to gain knowledge about company's internal processes and abilities.
SWOT is a tool used to study internal abilities of company along with their external
effects, its very potential instrument which help in developing best business strategy for
company. It stands for Strength, Weaknesses are internal and Opportunities, Threat are external
influential elements. Waitrose is one of the largest grocery store in UK, its strategies for
marketing its products gives it competitive edge amongst others. SWOT analysis Waitrose is as
follows:
Strengths:
 Waitrose has best service delivery team, employees of these team make sure to deliver
best quality goods or services to consumers.
 Company has attracted high class customers after it introduced wide variety line of
products under its own name (McCahery, Sautner and Starks, 2016).
 Waitrose satisfy needs of variety of buyers with its wide range of products which helps it
in expansion and building good relationship with all its clients.
 Customer base of Waitrose is also very loyal towards it, in spite of fact that it focuses
more on high class clients, this is because of strong relations maintained by Waitrose
with its buyers.

Weaknesses:
 Increasing competitive situation of market is getting intense resulting in price wars
between competitors, leaving Waitrose with lesser profit margins.
 Expansion is becoming a complicated task for Waitrose, as competition is rising with
every passing day due to which company is facing lot of problems.
 After introducing its product line, Waitrose has become overdependent on it which can
cause challenges as customers may get bored with same label and switch to another.
 Online shopping is not preferred by many clients, over concentration on this method can
cost Waitrose loss of buyers (Fontana, Sastre-Merino and Baca, 2017).
Opportunities:
 Expansion opportunities are always present for all kind or organisations, same is with
Waitrose also has chances to expand its business in other regions of UK and strengthen
its partnership with companies.
 Waitrose can improve its online shopping applications and strategy, this will enable them
to reach to more people in UK plus different locations too.
 Advertisement is another possibility to attract more clients and spread awareness amongst
various types of customers.
 Diversification is another chance for Waitrose, after looking at its customers base it can
diversify to non-food sectors as they most of its clients belong to high class and interested
in luxury goods (Moseley III, 2017).
Threats:
 As Waitrose is overdependent on its product line, market penetration is becoming a huge
threat and sales of its labelled goods is slowing down.
 Market share of Waitrose is very low in comparison with other supermarkets present in
UK, to overcome this company has to work harder to outsmart other competitors.
 Waitrose's concentrated focus on higher society is making them neglect lower class
consumers which covers wide range of population.
 Company is lagging behind from other in local and international market both, this can be
the biggest threat if not resolved now. It can lead to shutting down business operations of
Waitrose.

VRIO model is strategic tool developed for businesses to learn about its resources or
unique qualities and protect them for attaining long-term competitive advantage in market. It
stands for Valuable, Rare, Inimitable and Organized.
Resources Valuable Rare Inimitable Organized
Customer
Loyalty
Customer Loyalty - - -
CSR CSR CSR - -
Technological
Advancement
Technological
Advancement
Technological
Advancement
Technological
Advancement
-
HR HR HR HR HR
Valuable: This aspect identify if resources of company is adding value to it or not. If not it can
be competitive disadvantage for businesses ( Soltanizadeh and et. al., 2016).
 Customer Loyalty- Waitrose has great customer base its clients are loyal towards it. This
is because of strong relations maintained by them with buyers, resulting in becoming one
of the greatest strength of company.
 CSR- These activities are valuable to Waitrose because they are part of main objectives
of business.
 Technological advancement- With changing market situations more innovative
technology driven goods are coming in. Therefore, its advantageous for Waitrose to use
those technologies in its operations or processes (Balon and et. al., 2019).
 HR- Backbone of any organisations are its workforce, so skilled and talented employees
will automatically increase company's value.
Rare: This functions deals with uniqueness of resources present in entity which can only one or
few people can adopt.
 CSR- Concept of CSR is not rare but activities performed to fulfil social responsibility
can be unique which others can't even think off.
 Technological advancement- New technologies are valuable for company but ideas
about how to use them in operations are rare as they are invented by Waitrose teams.

 HR- All businesses have workforce to put their strategies plans in action but allocation
of manpower according to their knowledge is rare for Waitrose.
Inimitable: Resources which are hard and costly to imitate can be useful resource for businesses
giving strong competition to other competitors.
 Technological advancement- New technologies can be imitated by other companies but
Waitrose can put a stop to it by getting its ideas or techniques patented.
 HR- Human resource in all organisations are different which is why imitating them is not
possible at all (Martinez-Simarro, Devece and Llopis-Albert, 2015).
Organized: Processes, management system, organisations culture and all functions in company
needs to be organized for better implementation and potential use of resources or capabilities
present in business.
 HR- Every organisation have various ways to manage its workforce, different leadership
styles, motivational strategies are used for smooth functioning of resources and to keep
them organized.
M2 Critically evaluate the internal environment to assess strength and weakness of an
organisation
The above explained SWOT and VRIO analysis enable Waitose company to examine its
internal potentiality as well as assist them to make corrective course of action in order to attain
sustainable profitability ratio. Moreover, it help them to determine current or upcoming industry
trend or demand that aid firm to adopt innovative technologies and novel ideas for placing their
brand valuable, rare, organised within a competitive marketplace in an improved and productive
style (Chen and et. al., 2016).
D1 Critique and interpret information and data applying environmental and competitive analysis
to produce a set of valid strategic direction
TASK 3
P3 Evaluating competitive force of an organisation
Porter's five forces model was introduced by Michael Porter. Its is a concept used for
evaluating company's position in market and making effective plans and strategies. Its a
framework of five forces which are helpful in analysing overall environment of organisation and

to gain knowledge about its competitive advantage. Conducting research in relation with these
five forces provide better understanding of consumers and their behaviour to offer goods
according to needs, requirements and preferences of public. Expectations of buyers about quality
of goods plus pricing strategy are some more advantage entity's are earning, ensuring prices of
products accordingly (González-Rodríguez and et. al., 2018). Waitrose is grocery supermarket
based in UK and having its stores located in many different regions. Evaluation of Waitrose's
competitive position is done by applying Porter's Five Forces model for study. These forces are
bifurcated in two parts internal and external which are explained below:
Internal Forces
Bargaining Power of Suppliers- It measures the position of providers in context with
consumers and other suppliers. Their are number of elements which help marketers to analyse
their position in market are like how many new or potential competitors are available in market
or the company is dealing in monopolistic market condition. If there is monopoly situation, its
beneficial for suppliers as they have upper hand then other public which will enhance its profits
and they can set pricing strategies in their favour. Another element is customers loyalty, this
factor has great effects on business if switching cost is low and consumers are not loyal they will
switch to another brand in this case bargaining power of suppliers will go down. In Waitrose
case its bargaining power is moderate as it deals with high class customers which is a benefit for
them and its consumers are also very loyal towards it.
Bargaining Power of Consumers- Now, here comes measurement of buyers position over
providers, it can be high, low or moderate and this is dependent on some components. Buyers
volume and concentration is an important aspect the more in number more pressure can be built
on suppliers to change or make price strategies according to them. It is also dependent on
number of substitute present in market of the product they need is its monopolistic market
consumers have low power over supplier and if similar products are present then power
customers hold over providers is high. Sometimes all situations are in favour of buyer but still
suppliers are more influential, this is because of customers loyalty and trust they hold in
organisation (Amran and et. al., 2016). Waitrose has high bargaining power as compared to
buyers because its customer base is huge and mostly from higher class and they are loyal to
Waitrose. Its clients first preference is Waitrose over others they do not switch often also not
willing to switch either. They hold great trust in Waitrose operations and therefore, always

wishes to buy goods from their store. Also, some buyers belong to medium and lower class too
and after knowing the fact that company gives more importance to higher class still they stick
with Waitrose, reason being quality of products it produce and offer to public.
Threat of new entrants:This component signifies that the entrants of new establishments
generate innovative techniques and also help them to increase their market share. The higher the
barrier to entry, smaller the threat for existing players. In context of Waitrose, its threat of new
entrants is relatively low due to hight entry barriers. Moreover, in retail division firm require
huge amount of capital to invest as well as contain lengthy process for setting up the business
function in an efficacious and prompt manner. With the help of such process, it benefit Waitrose
to expand its market share or size in a better mode and also can gain customer loyalty towards
the brand. Along with this, Waitrose can adhere to is present market share and also can make use
of all available method to cope up with new entrants by applying litigation. Therefore,
organisation can strengthen its sales performance as well as can enhance profit margin ratio
within current industry in an amended manner.
Threat of substitute: Under this phase, it is relate with those aspect in which customers
carries enormous choices between various substitute brands that directly impact over
organisation productivity level. In regard of Waitrose, its threat of substitute is relatively high
due to existence of various companies within retail market which render several options for
customers to satisfy their need or demand in a better manner. Therefore, Waitrose can acquire
various marketing strategies like differentiation, integration that aid firm to boost its sales growth
and empower firm to attain sustainable profitability ratio in a effective manner.
Rivalry among companies : The industry where Waitose perform its operational activities
is highly competitive and contain strong rivalry between companies that directly influence over
firm's potentiality in acquiring competitive advantage. As per the evaluation of UK marketplace,
two reason has been identified for increased level of opposition within general food retail
industry i.e. low switching cost for consumers and difficult to differentiate among competing
retailers (Higgins, Omer and Phillips, 2015). In terms of Waitrose, it is in favourable position
which means it's rivalry rate is less compare to other companies. As the direct rivalry between
firms is not so high because Waitrose adopts differentiation strategy. However, other retailer
impose premium offers but still aim at wide customer base. However, Waitrose improved its
niche by delivering best quality of products that enhance food aware and consumer base. Due to

this, it lead Waitrose to enrich its brand image and refuse to take involvement in price wars that
improves its productivity and proficiency ratio.
M3 Devise appropriate strategies to improve competitive edge and market position based on the
outcome
From the preceding discussed Porter's Five force model, rivalry among competitors is
identified as most effective strategic for Waitrose as it already enhancing in this criteria in a
better manner. Moreover, rising level of competition enable Waitrose to make use of advanced or
productive technologies that enrich its brand value and also assist them to place their brand in a
better position within stipulated period of time in a improved mode.
TASK 4
P4 Application of concepts, models and develop strategic plan
In order to survive within existing competing industry, every organisation makes an
initiative in developing several tactics, strategies, policies which lead them to accomplish their
gaol or objective in an effective manner within prescribed time period. Along with this, it help an
establishment to acquire best positioning within present industry. In case of Waitrose, it has
intense level of competition which impact its decision making process in order to gain
competitive advantage in an efficacious mode. Therefore, implication of proper tactics into
business function, it help Waitose to obtain profit maximisation with an optimal utilisation of
resources in a given time frame (Olson and et. al., 2018). Therefore, Ansoff strategy is regraded
as one of the integral component as it relate with enhancing the growth ratio in a existing market.
In relation to Ansoff matrix, this strategy is developed by Igor Ansoff who believed that the
aspect of strategic management plays a significant role in achieving business goal or objective in
a better manner. It is a marketing planning tool that assist organisation to examine its product
and market growth and also focusses whether the particular commodity is new or existing and
whether the market is new or present. In addition to this, it encompasses four quadrants which
varies form each other in terms of roles, structure, risk level and son on.

Henceforth, Waitrose implies the same concepts within its functional area that assist them
to make relevant differentiate among product and market growth in order to gain competitive
advantage in an innovative and productive style. The implication of Ansoff matrix within
Waitrose is explained below:
Market penetration: This strategy is viewed as lowest risk component as it concern with
selling the existing product into current market. The foremost benefit which market penetration
reflect is that organisation are aware about their customer base and also contain established
channel which lead them to enhance their productivity ratio in an improved way. However, this
tactics is only suitable to those marketplace where market is in growing position and companies
can make use of marketing mix elements. For example, price discounting, advertising, publicity,
personal selling and many more which empower company to penetrate the existing marketplace
at the expense of competitors in an amended mode.
Product development: Under this determinant, it is relate with those aspect which states
that developing new products within present market. Moreover, in this phase promotion and
product element of marketing mix will get change that impose high risk compare to market
penetration. Therefore, the tool which makes this strategy more successful is that establishment
being able to conduct a market research which enable them to analyse customer and market need
or demand in a better manner. Moreover, with the help of this, establishment can examine their
internal capabilities in order to cope up with all sort of competencies for driving towards

innovation and advantage within firm's business operation in a productive style (Akter and et. al.,
2016).
Market development: This strategy explains that when an organisation makes an attempt
in enhance its market share with existing product into new market. Furthermore, compare to
market penetration, it much more riskier because it will be challenging for a firm to understand
the criteria of new industry as well as its complexities in acquiring best position within industry.
Hence, the key changes in marketing mix under market development phase is place and
promotion. Therefore, firm takes an initiative to investigate the market channel of new industry
and based on that they take a corrective course of action i.e. adapting effective promotional
strategies. Due to which, enterprise can obtain maximisation of profit and sustainable growth in a
competitive marketplace within stipulated period of time.
Diversification strategy: In this determinant, it is link with those concepts which signifies
introducing new product into new industry. Among all these strategies, diversification is
regarded as most risky criteria as an establishment moves to a unfamiliar market that impose
intense level of challenges or threat in obtaining desired sales target in a given time period.
Henceforth, product development strategy is identified as appropriate tool for Waitrose as
it already booming in UK market that help them to introduce new commodity into the current
industry. In addition to this, Waitrose can strengthen its profitability ratio by determining and
studying the current market trend and also customer taste and preference. Thus, based on that
Waitrose can implement best strategic decisions for attaining sustainable profitability ratio in an
innovative and productive style in a desired time period. Apart from this, Waitrose can improve
its customer base and brand value in present market and also in other competitors.
M4 Produce a strategic management plan with tactical strategies, priorities and objectives.
Strategic management plan is a systematic and organised technique which defines
organisation aim, objective and tactic to accomplish the same in a prescribed time frame without
any hindrances. Moreover, it act as a proper guidance or direction to company's that lead them to
render improved level of consumer satisfaction in an amended manner. Hence, in context of
Waitose, it makes an effort to design a strategic management plan which is discussed below:
Vision and Mission: Waitrose vision statement is become the best choice for customers
as well as in market at domestic and international level. Waitrose mission statement is to deliver
the high and better quality of products as per customer need and demand that lead company to

sustain and enhance their productivity at an improved manner (Vision & Mission Statement.
2019).
Objective: Waitrose foremost objective is to increase the sales growth by 15% within the
tenure of 6 months in a amended way.
Strategy: The primal intent of Waitrose is to cover the wide range of areas by adopting
innovative techniques in order to provide best quality of products in an improved manner within
a stipulated period of time.
Tactics: Waitrose mainly centring over the tactics of delivering value added products or
services which lead organisation to achieve its objective or goal in an effectual and expeditious
way.
Hence, this strategic management plan help Waitrose to determine its internal and
external business environment and also empower them to acquire best decisions for obtaining
increased level of profit margin ratio within existing marketplace.
CONCLUSION
From the above explained report, it has been concluded that business strategy plays a
integral role within an organisation as it act as a roadmap which aid management to align
functional activities for accomplishing desired objective in an improved mode. Along with this,
with the help effective business strategy company can easily insight its market trend, customer
segment and also product or service offerings that enable them to gain competitive advantage in
an innovative and productive mode. Moreover, SWOT and VRIO help an establishment to
determine its internal capabilities or strength for obtaining profit maximisation with an optimal
utilisation of resources. Furthermore, PESTLE framework assist firm to determine its external
macro factor and also aid them to impose best strategic decision for acquiring best positioning in
competing industry. Additionally, strategic plan help enterprise to carry out its desired goal or
objective within prescribed time period. The Porter's five force model help firm to analyse its
competitive force for enlarging the market size or share in an amended manner without any
hindrances.

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