Critical Assessment of Halfords UK's Corporate and Business Strategy

This report provides a critical assessment of the corporate and business strategic objectives of Halfords UK. It begins with an overview of corporate and business strategy, followed by a brief history of Halfords. The main body analyzes Halfords' organizational and business objectives, utilizing the SMART framework to evaluate their specific, measurable, achievable, relevant, and time-based goals. The report examines Halfords' market share, expansion plans, and service offerings, including their auto-centers, mobile van services, and integrated service schemes. The analysis includes a critical evaluation of Halfords' approach to creating value for stakeholders and achieving sustainable growth. The conclusion summarizes the key findings, emphasizing Halfords' strategies for maintaining its market position and creating competitive advantages through acquisitions and expansion.

Marketing Corporate
Strategy

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Corporate Strategy......................................................................................................................3
Business Strategy........................................................................................................................4
History of Halfords UK...............................................................................................................4
Analysis of Organisation and business objectives of Halsford...................................................5
SMART Framework ..................................................................................................................5
Critical evaluation of Halsford's.................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
In this report outlines the critical assessment of the corporate and business strategic
objectives of Halfords UK. A description about the corporate and business strategy is highlighted
along with the brief of the history of Halfords. At the end evaluation of the organisation with the
help of SMART framework is provided.
MAIN BODY
Corporate Strategy
Corporate strategies are the plan of action that the corporates develops to achieve its
objectives and goals. It is for long-term advantage over the competitors in the industry. The
strategic decisions are taken with incorporating all the business activities and through
understanding how optimum value is been generated. Corporate strategy is developed on the
basis of business strategies. The companies generally implement efficiency based corporate
strategy to obtain competitive advantage (Rugman and Verbeke, 2017). Corporate strategy
communicate on the issues related to what businesses should corporate seek to create
competition in the market, how the corporate generate value through its business activities and
diversification help the organisation to grow in the industry. It has four components namely
resource allocation, corporate design, portfolio management, strategic trade-offs.
Resource Allocation
The resource allocation mainly concentrate on the two types of resources of the
organisation i.e. Human resource and capital. The management of the organisation should
analyse and device a plan on how should these resources are to be allocated that it would result
in generation of values and to increase profits. The allocation process requires the identification
of the abilities of the human resource and required talents for the business. Along with the
distribution of the capital across the business and allocation of funds in the opportunities arises
within the industry.
Corporate design
It means the evaluation by the management of the corporate structure and the systems
that are placed within the activities of the organisation to create value. The corporates might be
following horizontal or vertical chain of command, and for reporting centralised or decentralised
management.

Portfolio management
The management of the organisation analyse and determine which business is viable and
generating revenue. Diversification of the businesses helps to create low risk profile that provide
a way for the sustainable development of the organisation.
Strategic Trade-offs
Management when developing corporate strategies examines what are trade-offs with risk
toward the return. Organisation's management ensures that the activities are performed in such a
manner that maximum return is being generated by taking minimum risk (Hébert-Dufresne and
et.al, 2017).
Business Strategy
It is a process development of plans that are executed by the management of the
organisation to create competition in the market and to achieve its objectives. A business strategy
is prepared from the analysis of the business and management can perform such task through
SWOT analysis. The analysis shows the strength, weakness, opportunities for the business and
threats of the business. A business strategy has two elements i.e. product and market investment
decision making and developing a sustainable advantage that helps to create competition in the
market. For the purpose of determining investment decisions the management evaluate different
products demand in various market. Planning of the various departments of the organisation i.e.
finance, marketing, operations and so on, creates a detailed outline for the preparation of the
business strategy (Hsieh and et.al, 2019). Accordingly information is collected and an investment
decision is taken. The business strategy forms as a base for the corporate strategy formulation.
The business strategies can aggressive or neutral in nature according to the extent of which the
management wants to create value of the products and generate competition.
History of Halfords UK
Halfords is a retail company which sells cars and bicycles accessories. It was established
in 1982 at Leicester, UK. It was founded by 'Frederick W. Rushbrooke'. In the year, 1906 the
Halford Cycle company was created. In the year 1912, the company opened 65 branches in UK.
In 1945 Halford acquire Birmingham Bicycle company. In1965, Bumrah group takeover Halford
and in 1968 opened its 300th store in UK. In 1984, Ward group acquires Halfords, in 1989, Boots
takeover Halfords and later in 2002 CVC acquired the company. In 2004, Halfords listed on
London Stock Exchange. In the year 2010, the company acquire Autocentres, 2014 acquire

Boardman, 2016 acquire Tredz & Wheelies, 2019 acquire Tyres on the Drive and McConechy's
Tyre Service, in 2020 Halfords close down Cycle Republic website. As of April 2020 the
company has 446 retail stores, 371 garages, owned 75 vans and 26 cycling stores.
Analysis of Organisation and business objectives of Halsford
To set the business strategies a analysis of the Halsford's relies on their colleagues,
expanding business with carefully created capital structure. For the organisation the competition
in the retail environment and more customer demand is a challenge. The company by evaluation
of their business processes developing more effective strategies to achieve long term goals. The
company decided to expand more of its businesses doing investment and develop business by
keeping view of the long-term growth (Hacklin and et.al, 2018). Halsford's has currently market
share in the car accessories segment of £3.5 billion, Car servicing segment £9 billion and cycling
segment £2 billion.
SMART Framework
SMART framework helps in the goal setting that is specifically created and helps in
solving problems. SMART stands for Specific, Measurable, Achievable, Relevant and Time-
based. Goal setting and personal learning plans are used by the managers of the organisation to
determine and set Business strategies that are align to the business goals. These goals helps in
clarify and provide direction to the business (Ogbeiwi, O., 2017). Understanding of the
Halsford's business goals through the framework:
Specific
Halsford's planning to expand its business of auto-centres. The company analysed that the
auto-centres are not located strategically to serve the customers. Time taken by the customers to
reach the auto-centres are average out to be around 30 minutes. So, by adding new auto-centres
Halsford's will be able to reduce the drive time of the customers and will be able to serve more
effectively. The company is looking to add 550 new auto-centres in UK and Ireland.
Measurable
The company is estimated to capture annual market share across the country in its car
products and related fitting business by more than 2% and in the car service more than 2%. For
this purpose the company is planning to invested heavily in these two business segments.
Attainable

Halsford's have mobile van service facility that have professionals that helps customers
by providing services to the customers across UK. To increase the national coverage and serve
more customers of UK the company is planning to acquire 200 more service vans in the next 3-5
years.
Relevant
The company wants to create a support system that provides customers an integrated and
convenient offers. Halsford's is planning to grow its motor services schemes, rapid completion of
the integrated services of the McConechy’s and Tyres on the Drive to offer quality services to its
customers and increasing the number of mobile vans by 120 in the end of year.
Time-based
Halsford's planning to increase its service centres across 1000 location in UK in the mid-
term. The company will increase its assets including garages and mobile Vans having experts
and retail stores.
SMART helps Halsford's to check for the long-term achievable goals. The company
through setting of these goals will able to develop strategies that will help the company to
achieve these goals.
The company has an integrated process to take social, economical and environmental
factors to generate sustainability. The company offers motoring and cycling products. Customers
are able to purchase any type of accessories for cars and cycle needs. The employees at the stores
provide expert services and also give, recommend best accessories to the customers. Halsford's
provide its services from across 900 locations across UK. Company offers its services to
locations that are convenient for the customers which provide the company to deliver quality
services. To generate long term value to the business, Halsford's has created a network of
activities that helps to achieve that value. Company has a team of 10,400 colleagues and
company constantly works for the development and training of the employees that helps the
company to achieve sustainable growth.
Critical evaluation of Halsford's
The company has its reach all over the UK to provide services related to cars and cycles.
The company established as a seller of car and bicycle accessories. It is the core business of the
Halsford's till now. Along with the company also provide repair services through mobile van
across UK. The company is although acquire many of the existing businesses to expand its reach

and is planning to diversify more through establishing more auto-centres and acquiring mobile
vans in next 3-4 years. Halsford's till now is successful in creating value to its stakeholders and is
striving for more growth and profitability in the future (de Oliveira Dias and et.al, 2018).
CONCLUSION
From the above study it has been concluded that Halsford's has from its foundation
ventures in many of the similar kinds of business to expand its business. The company currently
have around 20% market share in the country in both car products and cycling business.
Halsford's to create competitive advantage and maintain its place in the market is planning to
acquire and establish more of the auto-centres in the future.

REFERENCES
Books and Journals
de Oliveira Dias and et.al, 2018. Critical Success Factors on Business Process
Orientation. International Journal of Management, 5(3), pp.43-61.
Hacklin and et.al, 2018. Strategies for business model innovation: How firms reel in migrating
value. Long range planning, 51(1), pp.82-110.
Hébert-Dufresne and et.al, 2017. Strategic tradeoffs in competitor dynamics on adaptive
networks. Scientific reports, 7(1), pp.1-11.
Hsieh and et.al, 2019. Accounting conservatism, business strategy, and ambiguity. Accounting,
Organizations and Society, 74, pp.41-55.
Ogbeiwi, O., 2017. Why written objectives need to be really SMART. British Journal of
Healthcare Management, 23(7), pp.324-336.
Rugman, A.M. and Verbeke, A., 2017. Global corporate strategy and trade policy (Vol. 12).
Routledge.
Online
OUR BUSINESS MODEL, 2021. [Online]. Available through:
<https://www.halfordscompany.com/about-us/our-business-model/>
OVERVIEW OF THE GROUP’S STRATEGY, 2021. [Online]. Available through:
<https://www.halfordscompany.com/about-us/our-strategy/>