Impact of Dynamic Forces on Morrisons' Strategic Decision-Making

This report provides an analysis of contemporary management practices, focusing on the supermarket chain Morrisons. The introduction highlights the importance of effective management and the impact of various forces on business operations. The report delves into key dynamic forces, including the digital revolution, globalization, market needs, and technological factors, and their influence on society and business. It examines the interconnectedness of these forces in strategic decision-making, emphasizing the need for managers to adapt to changing market trends and customer demands. The report also explores decision-making tools, such as cost-benefit analysis and PEST analysis, which are essential for addressing change drivers and making informed strategic choices in a competitive environment. Overall, the report underscores the importance of understanding and responding to dynamic forces to ensure business growth and success.

Contemporary Management

Table of Contents
INTRODUCTION...........................................................................................................................1
Key dynamic forces impacting society and business.............................................................1
Relationship between various forces in term of strategic decision making...........................3
Decision making tools to address drivers of change..............................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Management is required for each and every type of level of company so that entire things
will get managed effectively. Many kinds of issues will be face by firm which will affect their
relationship with customers (Maron and et. al., 2015). Present assignment is based on Morrisons
which is a supermarket chain and established in UK. They are going to expand their business at
international level; thus, it is required for them to maintain quality of goods and services. This
project is going to highlight about many dynamic forces and their relationship which will provide
impact to society as well as business. Along with, certain decision-making tools will be used by
firm which will support into their growth and success.
Key dynamic forces impacting society and business
When company is going to perform their business activities, at that time they need to take
judgement for firm; therefore, they will be able to attain it effectively. It will either for short or
longer period of time. Along with, there are number of elements which will provide impact to
decision making procedure of an association (Magistro and et. al., 2016). Manager of an
enterprise will formulate some kind of strategies as well as policies because it aids to gain them
in an appropriate way; thus, coveted targets and objective will accomplished within provide time
duration. It is the main duty of top level authority to manage and in addition control entire
operational activities of business. By doing this, effectively firm will improve their profits and
production. At the time of procedure of business, many kinds of problems will be face by
superior. It is required for an employer to resolve them timely, otherwise this will hamper
productivity of goods and services. Hence, it has been understood that, manager need to take
corrective decision so that business operations of company will get enhanced.
There are many type of components and forces will be present in business surroundings
which will provide impact to operations of firm. It is required for superior of Morrisons to
determine and examine entire forces because it assists to cater opportunity to them in upcoming
time. Along with, this will help them while developing strategies and plan for association
(Klausner and et. al., 2015). Several dynamic forces will be comprehended through below
discussion:
Digital revolution: In recent times, it is considered as foremost key force which will
provide influence to operations as well as activities of firm either in a direct or indirect manner.
With support of this, manager will be able to gather and store overall data and information in a
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proficient manner. It has been understood that, digitalisation will cater chance to business to
collect data regarding attitude, need and behaviour of clients through social media. This
information will assist superior in procedure of decision making. As a result, they will be able to
achieve success and growth which enable them into their long term survival at marketplace. By
knowing requirements and demands of customers, association will easily fulfil their needs on
time. It aids them to provide maximum satisfaction to them; thus, they will retain consumers for
long time span. Along with, it helps to save time and cost of company as well.
Globalisation: It is another component which will provide impact to operations of
business and in addition society (Kiremit and et. al., 2015). This is like a procedure in which,
firm will operate their business at domestic and international level. With assistance of this, they
will be able to improve their market share and revenues. It is must for them to use available
resources in a significant manner. As, enterprise is going to enlarge their business; thus, it is
required for them to evaluate the market where they want to take entry. This will help them into
growth and success. In context of Morrisons, they have to analyse market; therefore, they will
expand operational activities in corrective way. Moreover, globalisation will give chance to an
association to introduce their items and services at new marketplace, which enable them in
improvisation of revenues. To capture attention of clients, it is essential for them to manufacture
goods by implementing creative ideas or thoughts. The main advantage for society is that, they
will have variety of options to select best product for them which will accomplish their
requirements and demands.
Market needs: Clients are considered as end user of any product or service; thus, it is
must for an enterprise to fulfil their needs and wants according to their demand. It will assist
them to improve profits and in addition market share. To know about the requirement of people,
manager of an organisation will conduct research, this will help into their satisfaction. But if
there is any kind of alterations into their demand then, this will provide an adverse impact to
operational activities of firm. Therefore, they have to modify their strategies and policies which
enable them to take benefits from competitors at competitive place (Arbelo and et. al., 2017).
Technological factors: This will provide major impact to the activities of business and in
addition affect their decision making process. It has been analysed that, modifications in tools
and methods will affect majorly to business and their revenues. In recent era, it is required for an
enterprise to update technology timely; therefore, they will accomplish needs of clients within
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limited time span and this enable them to survive at marketplace for longer duration. It assists
them to reduce unwanted cost and time as well.
Henceforth, above mentioned forces or factors will majorly provide impact to operational
activities of business. Therefore, it is fundamental for Morrisons to consider entire components.
This will help them to satisfy requirements of clients within limited time span. Manager will
conduct research to know about needs and wants of customers in an effective way. Additionally,
it is essential for them to update techniques and methods timely to make products and services
more appropriate and significant (Schaltegger and Burritt, 2017). This will assist them to
improve quality of items as well. With support of globalisation, firm will easily run their
business at international level and this enable them to improve market share, customer base and
in addition revenues.
Relationship between various forces in term of strategic decision making
There are numerous components which will provide impact to society and activities of
business directly or indirectly. Thus, it is must for superior to examine it so they will easily
formulate plan and strategies in an appropriate way. Additionally, by doing this, they will face
any kind of circumstances. This enable company into their growth as well as development.
Moreover, an enterprise will be able to take benefits from contenders; as a result, they will
survive at marketplace for maximum period of time (Joglekar, Lindvall and Martirosian, 2015).
In context of Morrisons, it is essential for them to produce quality items and services for
consumers at reasonable value. It has been evaluated that each elements are linked with each
other. Superior needs to analysed them because it helps them into their process of decision
making. Relationship amongst many forces will be understood by below mentioned points:
Globalisation and digital revolution: They both component is considered as most
essential elements which will provide influence on production as well as profits of company. If
an association wants to enlarge their business activities at international market then, they will
take assistance of digital methods. This enables them to reach maximum number of clients at a
single time. Along with, they will easily take judgement effectually which help them to diminish
complexity of firm. As a result, they will be able to attain coveted targets and goals within
limited period of time. Therefore, an enterprise will easily enlarge their exercises which aid them
to compete with contenders at competitive world. The major advantage of using digital
techniques at the time of globalisation is that, they will easily communicate about products and
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services to the vast number of people (Shaib and et. al., 2016). As a result, they will improve
their profits in a significant way. It will assist them into their success and enhancement.
Moreover, this assists them to save cost and in addition time. Latest tools and methods will help
firm to maintain quality of products and services. Henceforth, they will provide it to customers at
reasonable value.
Technological forces and market trends: In modern time, requirements and demands of
people are changing rapidly. Therefore, to render them maximum satisfaction it is required for
Morrisons to upgrade their techniques and tools timely. This will assist them to enhance quality
of goods and services. Along with, by utilization of new ideas manager will produce goods in an
innovative way, which aid to capture attention of numerous individuals. As a result, profits and
reputation of company will easily get improved (Sonpavde and et. al., 2015).
Decision making tools to address drivers of change
If Morrisons wants to operate their business in an effective way then, it is required for
them to take an appropriate judgement for business; therefore, they will gain positive results.
But, if they are taking decision in a corrective way then, this will provide influence to firm in an
adverse manner. This will render impact to their profits and reputation negatively which will
affect their growth and success. As Morrisons is operating their business at large scale; thus, it is
required for them to use distinctive sort of techniques and methods. This enables them to take
benefits from contenders at marketplace and they will easily maintain their position in market
(Decision-making tools and techniques, 2017). Henceforth, there are many decision making
techniques which will be used by company to address change drivers, these are stated as beneath:
Cost benefit analysis: This is considered as much essential factor which aid management
in a proficient manner. Organisation is trying to improve their business at global market. While
conducting business at international level, it is required for them to examine recent trend of
market, needs and wants of clients, politics, environment and so forth. As they are going to sell
their goods and services to people across the world so it is must for them to maintain quality and
price of it (Colbert and et. al., 2015). There are many kinds of source will be used by an
enterprise, such as social sites, globalisation and in addition digital techniques. Along with, it is
required for an association to maintain organisational culture; thus, employees will easily
accomplish their task within limited time span and without facing any kind of problem. But if it
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is not appropriate then, this will affect company in an adverse manner. Henceforth, manager
needs to alter culture of business according to the circumstances.
PEST Analysis: PEST stands for Political, Economical, Social and Technological. It is
foremost technique which will provide impact to judgement of an enterprise. Therefore, it is
required for superior to comprehend it effectually so that they will know about national and
international market. It has been analysed that, condition or surrounding of each market is entire
differ from others. As Morrisons is going to enlarge their business activities at international
level; thus, it is must for them to examine it market significantly. So they will be able to know
about politics and culture of that nation. In relation to social diversification, they need to know
about the preferences as well as tastes of people so that they will accomplish their needs and
wants accordingly (Cherry and Jacob, 2016). This will help them to take benefits from
competitors and as a result, they will easily improve profits and market share in an effective and
efficient manner. It is required for company to adopt latest methods and techniques as it enables
them to maintain quality of goods and services.
CONCLUSION
As per above mentioned assignment it has been comprehended that company needs to
manage entire issues or troubles in an appropriate manner so that they will provide qualitative
goods and services to people. By doing this, they will take benefits from competitors at
marketplace. Along with, there are many factors which will provide impact to firm and in
addition society, such as recent market trends, technology, globalisation and many others. It is
must for manager of an enterprise to resolve problems timely so that they will achieve desired
targets and objectives within limited period of time. Several kinds of strategies and policies will
be formulated by superior to manage change in firm.
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REFERENCES
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Kiremit, M. C. and et. al., 2015. Contemporary management of medium-sized (10–20 mm) renal
stones: a retrospective multicenter observational study. Journal of endourology. 29(7).
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Online
Decision-making tools and techniques. 2017. [Online]. Available
through:<https://www.businessnewsdaily.com/6162-decision-making.html>.
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