Business Strategy: Environmental & Internal Analysis of Goodman Masson

This assignment presents a business strategy for Goodman Masson, a London-based employment agency, focusing on environmental analysis as a strategic management tool. It identifies and analyzes both internal and external factors influencing the organization's performance. The report uses tools like PESTLE, SWOT, Porter's Five Forces, and McKinsey's 7S model to assess the macro and micro environments, internal capabilities, and competitive landscape. Strategic recommendations are provided based on the analysis, aiming to support Goodman Masson's growth and expansion objectives within the finance and technology recruitment sector. The report covers strategic content including vision, mission, objectives, and strategic intent, and provides an organizational audit to evaluate strengths, weaknesses, opportunities, and threats. The analysis contributes to a comprehensive understanding of the strategic directions available to the organization.

BUSINESS STRATEGY

TABLE OF CONTENTS
INTRODUCTION..........................................................................................................2
PART A.........................................................................................................................3
LO 1 ANALYSIS OF THE IMPACT AND INFLUENCE WHICH THE MACRO
ENVIRONMENT HAS ON GOODMAN MASSON RECRUITMENT AGENCY...........3
THE STRATEGIC CONTENT:..................................................................................3
ANALYTICAL FRAMEWORK OF THE MICROENVIRONMENT.............................5
LO2 ASSESS AN ORGANISATION'S INTERNAL ENVIRONMENT AND
CAPABILITIES ORGANISATIONAL INTERNAL ENVIRONMENT.............................8
STRATEGIC CAPABILITIES....................................................................................8
MCKINSEY’S 7S MODEL.........................................................................................9
VRIO/VRIN FRAMEWORK.....................................................................................10
BENCHMARKING STRATEGIC CAPABILITIES AND VALUE CHAIN ANALYSIS
................................................................................................................................10
COST-BENEFIT ANALYSIS...................................................................................11
PART B.......................................................................................................................13
LO3 EVALUATE AND APPLY THE OUTCOMES OF AN ANALYSIS USING
PORTER’S FIVE FORCES MODEL TO A GIVEN MARKET SECTOR....................13
BALANCE SCORECARD.......................................................................................13
COMPETITIVE ANALYSIS USING PORTER'S FIVE FORCES MODEL..............13
STAKEHOLDER ANALYSIS...................................................................................14
ANSOFF MATRIX TO PRODUCT/ MARKET STRATEGY....................................15
LO4 APPLY MODELS, THEORIES AND CONCEPTS TO ASSIST WITH THE
UNDERSTANDING AND INTERPRETATION OF STRATEGIC DIRECTIONS
AVAILABLE TO AN ORGANISATION.......................................................................17
PORTER’S GENERIC STRATEGIES....................................................................17
BOWMAN’S STRATEGY CLOCK..........................................................................18
DIVERSIFICATION.................................................................................................18
CONCLUSION............................................................................................................19
REFERENCES...........................................................................................................20
1

INTRODUCTION
In this assignment, the business strategy for Goodman Masson is been prepared as
a strategic manager which is based on the environmental analysis. Goodman
Masson is an employment agency situated in London, England. An environmental
analysis and a strategic growth management plan are prepared by recognizing both
the internal and external factors that are influencing the organization to a great
extent. These internal and external analytical tools are taken into account with the
company's objectives and goals taken for its expansion and growth. Environmental
analysis is a type of strategic tool in which all the internal and external elements are
identified that are responsible for affecting the performance of Goodman Masson.
2

PART A
LO 1 ANALYSIS OF THE IMPACT AND INFLUENCE WHICH THE
MACRO ENVIRONMENT HAS ON GOODMAN MASSON
RECRUITMENT AGENCY
Paul Goodman is the founder of Goodman Masson which is started in the year 1993.
This company have its bases in London and Dusseldorf and offering recruitment to a
large number of people. It is a finance and technology recruitment company with
annual revenues exceeding 42 million with a team of over 160 (Butler, 2015).
Strategic planning is a type of business process that gives a direction to the
organization for planning its resources and to effectively take business decisions in
order to pursue the planned and developed strategies. This process is focusing on
various functions of departments and divisions which are managed by the
organization’s top level management. Strategic planning is a long-term
organizational planning which can be used by a different organization such as
Goodman Masson in order to sustain in the various changing environment and for
meeting the stakeholders' expectations.
THE STRATEGIC CONTENT:
Vision: a strategic vision of an organization is the roadmap to its future and thus
providing a direction, way or path to the company for surviving in the targeted
business marketed with a strong benchmark. The strategic vision also defines the
future operations and goals of the organization which are planned by its top
management level (Ododo, 2015). The vision of the company allows it to focus on
the direction which is needed to be operated along with the goals which are needed
to be achieved in the decided time frame. The strategic ambition of the Goodman
Masson is as follow:
“In order to their people and customers in a better way when compared to the other
business situated in the UK and to become the largest financial and technological
recruiter company in London city.”
Mission: these are the basic aims which are designed by the organization in order to
achieve its vision. It also describes the motive of the company’s existence and the
small and big steps that are helpful in achieving the targeted and planned vision. A
strategic mission of the company guides it towards the long-term strategy in order to
produce a set of desired outcomes which are created at the corporate level. The
mission of the Goodman Masson is given as "as the company has become an
award-winning business in London and by this, the leaders and managers at the
workplace have changed in a way better for achieving more success". Goodman’s
mission directs all its employees to work collectively for achieving its vision so as a
harmonic and unique environment has been created within the workplace. The
mission of the company is capable of meeting the demands of the customers along
directing the company to become the best in the recruiting sector.
Objectives: the objective of the company is a measure of its progress in the way to
achieve its required goals and objectives. The objective is an openly ended attribute
by which the future outcomes can be stated. Focusing employee engagement and
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creating a unique working environment at the workplace is the main objective of the
Goodman Masson recruitment company.
Definition of Strategy: strategies can be defined as the plans of actions that are
designed to achieve a long-term or overall aim which is designed by the
organization. Here the strategies that are designed by the Goodman Masson were
designed to accomplish the targeted aim that is to become the largest recruiting
company in London which is offering both financial and technological services to its
clients. Following are the roles of business strategies that are used to achieve
goals and objectives of the Goodman Masson:
 It starts with defining the mission of the company which is important for
synthesizing the overarching ideas and liking these ideas to the practical
strategies of the employees.
 Setting measurable goals which are helpful in setting specific and concrete
objectives; is the other role of business strategies.
 Strategies in the Goodman Masson are also evaluating its current progress
which is one of the major and essential roles in achieving the vision and
mission of the company.
Strategic intent related to business: they are the readily grasped declarations that
are designed and planned by the management of the company in order to take it
towards success in over a fixed duration. The strategic intent of the Goodman
Company needs to be understood by every employee in order to achieve the
planned goals by working collectively. Strategic directions are the ways in which the
Goodman Masson’s employees have to move for achieving success in an
appropriate and positive way. In this company, the leader is the one who directs all
the employees in a strategic and planned direction which is one of the important
steps towards success.
There are various strategic planning techniques which can be adopted by the
Goodman Masson in order to apply strategic analysis. Following are the most
common analysis tools and techniques for the same:
 VMOST- this standard analysis tool defines vision, mission, objectives,
strategies and tactical. The tactical need to be connected with the strategies
in order to get the success parameters.
 SWOT- it defines strengths and weaknesses which are internal to the
organization along with the opportunities and threats that are external.
 PEST/LE- it can be used as a tandem with SWOT. It covers the political,
economic, social and technological factors of the company.
 SOAR- it stands for strengths, opportunities, aspirations and results; it a
great tool which can be used after the completion of strategic plans of the
Goodman Masson.
 Boston matrix, Porter's five forces analysis, maturity models and root
cause analysis are some more techniques that can be used and adopted by
the Goodman Masson for getting desired results.
4

ANALYTICAL FRAMEWORK OF THE MICROENVIRONMENT
The analysis of microenvironment can be defined as the analysis of a particular
organization in which the factors are identified that is responsible for affected it to a
great extent. These factors are controllable and hence control measures can be
adopted by the Goodman Masson in order to reduce the negative effects of these
factors. Following analysis is done with respect to the Goodman Masson:
1. Environmental analysis:
PESTLE analysis- for becoming capable of planning strategies, the Goodman
Masson have to consider some performance indicators along with different factors
that are responsible for developing a competitive environment. The factors which are
to be considered are as follows:
POLITICAL
 Political stability/instability
 Governmental
organization/attitude
ECONOMICAL
 Unemployment policy
 Inflation, interest rates and other
monetary policies
 Consumer confidence
SOCIAL
 Demographical changes in
London can impact the business
of the company.
 Different advantages of market
segments are taken by the
Goodman Company in order to
cope up with the demographical
changes.
TECHNOLOGICAL
 Rate of technology transfer
 Changes in mobile and
information technology
 New developments related to
recruitments in technology
LEGAL
 The working procedures of
Goodman Masson are not
affecting the environment at any
cost.
 Tax policies
 Safety and competition
regulations
ENVIRONMENTAL
 There are various standards
related to environmental
regulation and protection are
impacting the Goodman Masson
globally and these are suggested
by the government.
 These standards are very
effective because they are
affecting the working procedures
at Goodman Masson.
The above PESTLE analysis is conducted in order to determine the factors that are
affecting its working of Goodman Masson Company and influencing at a high rate.
These factors are not controllable by the company, but efforts can be made to
reduce its effects.
2. Structure-conduct-performance model: this model is used as an analytical
framework in order to make relations amongst market structure, market
conduct and market performance of a company. Following are the three
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elements of the paradigm that are taken into consideration with respect to the
Goodman Masson:
 Structure- these are those set of variables in the Goodman Masson that are
relatively stable over a time period and affect the behaviour of both the sellers
and buyers of the company. Here the seller is the different employees who
are suggested to various companies according to their demands. The buyers
are the companies who are recruiting these group of people as per their
demands and need.
For example one of the latest job profile that the Goodman Masson is offering to
different companies related to finance and technology is for “Corporate Tax
Reporting Senior Manager-In house- London. Here Goodman Masson is the seller
and the companies that are hiring from Goodman Masson are the buyers.
 Conduct- it is the way in which both the buyers and sellers behave, amongst
themselves or with each other. Here the Goodman Masson chooses its own
strategic behaviour, investment in research in different advertising levels and
departments of the company.
 Performance- this element is measured by the comparing the results of the
recruitment company here Goodman Masson along with the industry in
efficient terms. Here various ratios are used to evaluate various profitability
levels.
The dynamic behaviour of both the buyers and the sellers are having an effect on the
recruiting market, thus it makes it harder to predict and establish static and foxed
market structures.
3. Organisational audit:
SWOT analysis- this analysis is carried out in order to know the strengths,
weaknesses, opportunities and threats of the Goodman Masson recruitment
company. These 4 factors are under control and the company can minimize the
negative impacts of these factors by analysing them.
STRENGTHS
 Top global MNC clients
 Strong core values of Goodman
Masson
 Nice existing client feedback
 High growth in recent years
 Strong quality and development
processes.
WEAKNESSES
 Lower innovation
 Goodman Masson does not own
any product as it is a recruiting
company
 Limited to some countries only
OPPORTUNITIES
 Delivering values and results
 The company has made
changes according to PESTLE
factors
 Presence of huge competitive
market for the clients
THREATS
 Competitors
 Changes that are made in order
to compete with others.
6

These steps can be taken in order to minimize the negative impacts of the
competitors and the changes that are taken in order to compete with them. In
addition to this, the weaknesses of the Goodman Masson can also be minimized.
7

LO2 ASSESS AN ORGANISATION'S INTERNAL ENVIRONMENT AND
CAPABILITIES ORGANISATIONAL INTERNAL ENVIRONMENT
The internal environment of Goodman Masson is composed of the elements that are
present within the organization that includes the current employees, management
team along with the corporate culture that describes the employee behaviour at the
Goodman Masson. Although, most of the elements are responsible for affecting the
whole company, some are only affecting the manager of the Goodman Masson.
STRATEGIC CAPABILITIES
It refers to the Goodman Masson’s abilities to successfully employ all the different
competitive strategies which are helpful in surviving it and increasing its value over a
period of time. Following are the major 5 key components of strategic capabilities
which have to be there in the Goodman Masson Company in order to work
effectively in various business strategies.
 Leadership- the leadership quality should be there at every level of the
Goodman Organization for better handling of employees and consultants at
the workplace. The people at the workplace should be motivated and inspired
by fluffing the mission of the Goodman Company.
 Collaboration- it is the ability in which the employees of the Goodman
Masson is working productivity with the other employees. When the
performance level of the employees are low, the collaboration will provide the
ability for effectively break down the complex tasks, which are then distributed
across a group of people in the whole organization (Noke, 2017).
 Adaptability- it is the ability in which the old skills, technologies and
processes of the Goodman Masson Company are changes in order to apply
the new one as there are many new changes in the business market.
 Creativity- it will describe the Goodman Masson’s ability to think and act in a
different manner when compared to its competitors. This different thinking will
be helpful in influencing the strategic decisions that are taken by the company
in order to sustain the business market of London.
 Innovation- the innovation which is beyond the creativity will turn the creative
ideas of the Goodman Masson into reality which would be helpful in growing
its status.
Resource-based view strategy as a basis for competitive advantage and the
McKinsey’s 7S model as a management tool
Resource-based view is a type of strategic theory for understanding the concept of
why some organizations outperform others in the business. The basic and
fundamental principal of Resource-based view (RBV) explains that the basis for a
competitive advantage of Goodman Masson Company lies mainly in the applications
of the bundle of valuable resources at the company’s disposal.
8

Figure: 1. Resource-based view strategy
[Source: https://www.strategicmanagementinsight.com/topics/resource-based-
view.html]
Here the Goodman Mason can attain competitive advantages if the current strategy
is value-creating and not implemented by the present or future competitors at the
present time. Competitive advantages have the capability to become sustained,
however, it is not necessary in every case. Here the Goodman Masson can enter the
London market by launching a new resource which has the capability to invalidate
the prior company’s competitive advantage that results in a reduction of rents.
Sustainability in context with the workable competitive advantage is not dependent
on the time-frame. When the copied actions come up to an end without disrupting
the Goodman Masson’s advantage, then it is the stage where the recruitment
company’s strategies are called as sustainable.
MCKINSEY’S 7S MODEL
This model can be considered as a management tool for the Goodman Masson
recruitment company. Following are the seven element hard and soft elements of
McKinsey’s model:
Hard elements
 Strategies
 Systems
 Structures
Soft elements
 Skills
 Styles
 Staff
 Shared values of the Goodman
Masson
Here the hard elements of the Goodman Masson can be easily identified and defined
directly by the manager and the management can influences these factors directly.
On the other hand, the soft elements are hard to describe and less tangible in
nature. In addition to this, all the elements are interdependent and change in one can
affect the other accordingly (Hill, 2017). This model can be used as a management
tool in a wide variety of situations where an alignment is needed. McKinsey’s 7S
model is helpful to Goodman Masson in the following way:
9

 It is one of the biggest reason behind improving the performance factor of
Goodman Masson.
 Helpful in examining the positive effects of future changes that can occur
within the company.
 This model aligns all the processes and departments during an acquisition.
 By this model, the proposed strategies can be implemented in the best way it
can be.
Figure: 2. McKinsey’s 7S model
[Source: http://www.valuebasedmanagement.net/methods_7s.html]
VRIO/VRIN FRAMEWORK
VRIO is a business analysis framework which forms a part of Goodman Masson's
large strategic scheme. It falls into internal analysis but used for evaluating all the
resources and capabilities regardless of its phase. The strategic capabilities are
analysed with the help of VRIO framework as the evaluation of present resources
and capabilities are there (Alizar, et al. 2017). This framework is useful in reviewing
the value of business resources because both the internal and external conditions
are changing and thus making the resources less valuable or useless. The resources
that are not capable of meeting the conditions are considered as the competitive
disadvantage for the Goodman Masson Company and are not taken into account in
strategic planning procedures.
BENCHMARKING STRATEGIC CAPABILITIES AND VALUE CHAIN
ANALYSIS
The strategic capabilities of the Goodman Mason are benchmarking the standard of
the company with its competitors. This is because the capabilities of this company
are innovative and independent in nature when compared to the other competitors.
These capabilities are then used as a roadmap for planning the strategies and goals
of the company (Caritte, et al. 2015). On the other hand, the value chain analysis is
also considered as a useful and important process by which the whole business
10

chain is analysed from top to bottom. This can be done by analysing the value
parameter and if changes are required then they can be implemented accordingly.
Figure: 3. value chain analysis
[Source: https://www.strategicmanagementinsight.com/tools/value-chain-
analysis.html]
COST-BENEFIT ANALYSIS
It is a systematic approach by which the strengths and weaknesses of alternatives
can be estimated according to the needs and demand of the Goodman Mason. Here
the strengths and weaknesses can be taken from transactions, activities, business
requirements and project investments of the Goodman Masson (Zucchella, et al.
2014).
 Goal setting: here many aspects of recruiting can be evaluated along with the
effectiveness of the recruiters. The Goodman Mason sets goals for recruiting
different types of employees.
 Deciding on an external match level
 Evaluating the sources of recruitments
 Cost of advertising can be evaluated along various dimensions by the
Goodman Masson.
11

Figure: 4. cost-benefit analysis
[Source: https://www.researchgate.net/figure/Cost-benefit-analysis-
scale_fig3_29169698]
12

PART B
LO3 EVALUATE AND APPLY THE OUTCOMES OF AN ANALYSIS
USING PORTER’S FIVE FORCES MODEL TO A GIVEN MARKET
SECTOR
BALANCE SCORECARD
Balanced Scorecard is a strategic performance management tool and a semi-
standard structured report which can be used by the Goodman Masson's manager in
order to keep the track of activities executed by the employees. Balance scorecard is
used to align both the vision and strategies of the Goodman Masson which is very
important for the growth of the company. The vision and mission can be
implemented only if the employees are working collectively for it including their
efforts.
COMPETITIVE ANALYSIS USING PORTER'S FIVE FORCES MODEL
FIGURE: 5. Porter’s five force analysis
[Source: https://www.mindtools.com/pages/article/newTMC_08.htm]
Identifying the competitors and evaluating their strategies is an essential process
which has to be carried out by the Goodman Masson Company. The strengths and
weaknesses related to the products and services of the company can be determined
by carrying out different analysis. Here Porter’s five force analysis as a business tool
is used by the Goodman Masson in order to analyse the competition in its business
market. The competitive intensity can also be analysed by the recruitment company.
13

Following are the five factors which are responsible for analysing the competition
under Porter’s Model are:
 Threat of new entrants- Goodman Masson has an average risk from the new
entrants in the markets because there are many recruiting companies present
in the market of London.
 Bargaining power of suppliers- the bargaining power in this sector is
moderate when compared to the other sectors of the business. This is
because the suppliers are not agreeing with the prices that are offered by the
Goodman Masson.
 Threats from substitutes- the substitutes and replacements of business
services that are offered by the other competitor companies present in the
London market creates a high level of threat to Goodman Masson.
 Goodman Masson has a high competitive rivalry because it is providing
business services to different clients at an affordable rate.
 Bargaining power of customers- Goodman Masson is facing a medium
range of bargaining from its customers as there are many competitors present
in the business market.
STAKEHOLDER ANALYSIS
Stakeholders in Goodman Masson are the part of the company that consist a group
of people who are taking part in business activities and decision making processes.
For analysing different stakeholders, the Goodman Masson Company can use
Ansoff matrix for analysing the product or market strategies. This analysis is helpful
to the recruitment company in order to assess the major impacts that are made on
the parties when decisions are made in the management, their conflicts resolution
and administration of the business.
Figure: 6. stakeholder analysis
[Source: https://www.mindtools.com/pages/article/newPPM_07.htm]
There are two types of stakeholders in the Goodman Masson; they are- internal and
external stakeholders.
The internal stakeholders involve the following:
14

1. Employees of the Goodman Masson- this company offers career
opportunities to its employees in order to grow and develop in the business
market of London.
2. Shareholders- a good amount of return is being given to the stakeholders of
the company by making a profit from recruiting people.
3. Creditors- a good credit score has been made with the creditors of the
company which is reliable in nature.
Following are some of the external stakeholders of the Goodman Masson:
1. Customers- here the customers are the different finance and technology
companies that want to recruit people from the suggestion that are provided
by the Goodman Masson advisors. This company treats its customers as their
first preference.
2. Suppliers- a good relation with different suppliers who are providing and
suggesting employees for recruitment.
3. Community, trade union and government are the other stakeholders that
contribute to the company to a great extent.
ANSOFF MATRIX TO PRODUCT/ MARKET STRATEGY
As according to the strategies that are developed in the business, Ansoff’s product
market growth matrix has been suggested to be applied in Goodman Masson
Recruitment Company under the limited growth market factor. Market development
can be the better option the recruitment companies in London as it a small company
with less number of employees in it.
Figure: 7. Ansoff matrix
[Source: https://blog.oxfordcollegeofmarketing.com/2016/08/01/using-ansoff-
matrix-develop-marketing-strategy/]
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The market development at Goodman Masson will be effective in attracting its
customers at a great level as the customers are attracted by the high standard and
benchmark (Verweire, et al. 2014). Thus, merging with a high standard recruitment
company will give a better direction to the Goodman Masson and also helps it in
achieving the vision.
16

LO4 APPLY MODELS, THEORIES AND CONCEPTS TO ASSIST WITH
THE UNDERSTANDING AND INTERPRETATION OF STRATEGIC
DIRECTIONS AVAILABLE TO AN ORGANISATION
In order to understand and interpret the different strategic directions that are
available for an organization to compete effectively as well as to implement the
strategic plan successfully within the market, an assortment of different models or
theories can be used. The different strategies that can be used with respect to the
Goodman Masson are as follows:
PORTER’S GENERIC STRATEGIES
In an industry, the relative position of an organization portrays the level of
organization’s profitability as well as its competitive advantages over the market
competitors. Thus, using Porter's generic strategies, this level of profitability along
with the company's competitive advantages can be critically analysed. With respect
to the Goodman Masson, the three generic strategies of Porter are as follows;
Figure: 8. Porter’s Generic Strategies
[Source: https://www.ifm.eng.cam.ac.uk/research/dstools/porters-generic-
competitive-strategies/]
COST LEADERSHIP STRATEGY
According to the cost leadership strategy, the organization likes Goodman Masson
becomes the above average performer within its industry by becoming the low-cost
producer. This strategy proves to be beneficial for attaining cost advantages but is
highly dependent on the structure of the industry.
DIFFERENTIATION STRATEGY
This generic strategy is entirely based on the uniqueness of the firm within the
industry in terms of different dimensions and has several applications in favour of the
business. Goodman Masson has selected different traits and attributes that would
aid it to uniquely position itself within the industry so as to meet the needs of buyers.
17

FOCUS STRATEGY
From the perspective of Goodman Masson, it can be noted that the focus generic
strategy is basically based on the competitive scope’s choice within the industry.
According to this strategy, the management committee of the Goodman Masson
segments its market customers and develop strategies to serve only those segments
of the market. There are two variants of the focus strategy and each variant has its
own applications. These two variant of focus strategy are “Cost Focus” and
“Differentiation Focus”. Out of these two variants, the Goodman Masson follows the
Cost Focus variant, as the organization pursues to gain cost advantage within its
targeted segment.
BOWMAN’S STRATEGY CLOCK
Bowman’s strategy clock is another strategy that is used by the organizations to
interpret the different strategic directions in the market (David, et al. 2017). Goodman
Masson utilizes this marketing strategy to critically evaluate the competitive position
of the firm on the basis of offerings that are provided by the competitors in the
market.
DIVERSIFICATION
It is one of the four marketing strategies that are portrayed by the Ansoff’s matrix.
According to this corporate strategy, the organizations like Goodman Masson enter a
new market by introducing a new product or service. Although being risky, this
strategy could prove to be profitable for the Goodman Masson (Metzger, et al. 2014).
Thus, these are some of the strategies that can be used to understand and interpret
the different strategic directions that are available for an organization to compete
effectively in the international market.
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CONCLUSION
The Goodman Masson's business strategy that is developed concludes that there
are opportunities for the company to grow in the London market and this can be
done by adopting a new market development. This market development will
effectively and efficiently help the company to achieve its goals and to fulfil the
demands of different customers and technology and finance companies. A
competitive advantage over recruiting competitors can be gained by developing
strong and effective business strategy.
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