Business Strategy

This presentation provides an overview of business strategies and their significance in achieving organizational goals. It discusses the analysis of the internal environment and capabilities of a company, using the example of NEXT PLC. The presentation also includes references for further reading on the topic.

Business Strategy

Table of content
 Introduction
 Analyses internal environment of the company
 Capability analysis
 Conclusion
 References

Introduction
Business strategies refers to those plan of action that are formulated and framed by the
management of the company so that organization can run and operate its business in
effective manner in competitive marketplace. It can be those strategies or activities that are
performed by the administration of a business enterprise to accomplish its vision, mission
and objectives in set time duration.

Analysis of internal environment of the
company
NEXT PLC is the second multinational clothing retailer in UK, deals with product like
apparels, accessories, footwear of women, men and kids and home products also. It
engaged in retailers, online shopping facilities. NEXT PLC store is widely located in UK
and middle east countries. To evaluate micro and macro business environment, SWOT
analysis of NEXT PLC to be done, to identify the strength, weakness, opportunities and
threat.

Strength
 NEXT PLC comes with product innovation with excellence market performance and
best customer service as mostly active website in social media.
Weakness
 NEXT PLC is not investing in market research as their competitor to known costumer
need, they are using their old featured market concept and making product likewise.
Continue...

Continue...
Opportunities
 Company prefer celebrity endorsement to target major consumer segments with popular
celebrities.
Threats
 Increasing competitive in clothing retailing with other brand giving huge discounts and
offers led to product differentiate and change in price strategies.

Capabilities analysis of the company
VRIO framework- It is a strategic analysis tool that is used by companies to
uncover and provide protection to the resources and capabilities which offer them a long
term competitive benefits. The description of this analysis in term of Next plc is as
follows:

Continue...
Resources Valuable Rare Inimitable Organisable
Brand Image Brand Image - - -
Financial
Capability
Financial
Capability
Financial
Capability
- -
Technological
Resources
Technological
Resources
Technological
Resources
Technological
Resources
-
Human
Resources
Human
Resources
Human
Resources
Human
Resources
Human
Resources

Continue...
As per above explain information it can be analyse that Brand image of Next plc is
valuable for the company because it is help in creating awareness about the
company and its products. It is essential for the company because it help in
business expansion, increase profit and enhance productivity. Financial capability
is valuable for the company because without finance no business can be operate.
This resource is rare because each firm has not much capability invest more fund to
operate and expand business.

Conclusion
Form the above define content, it can be analyse that business strategies are beneficial
to operate the business of the company in effective and efficient manner so that
they can accomplish their aims and objectives in set time frame. SWOT analysis is
effective to assess impact of internal environment and VRIO analysis is used for
determine capability of the firm.

References
 Thompson, A., Strickland, A.J. and Gamble, J., 2015. Crafting and executing
strategy: Concepts and readings. McGraw-Hill Education.
 Woerner, S.L. and Wixom, B.H., 2015. Big data: extending the business strategy
toolbox. Journal of Information Technology. 30(1). pp.60-62.
 Yuliansyah, Y., Gurd, B. and Mohamed, N., 2017. The significant of business
strategy in improving organizational performance. Humanomics.

Thank you