Assignment on The Business Strategy (GC0671)
Table of Contents
Introduction.
Company overview: Morrison Supermarkets PLC.
1. Understand the process of strategic planning.
1.1 Missions, visions, goals, and competencies.
1.2 Review the issues involved in strategic planning.
1.3 Explain the different planning techniques.
2: Be able to formulate a new strategy.
2.1 Produce an organizational audit for Morrison supermarkets.
2.2 Carry out an environmental audit for Morrison supermarkets.
2.3 Morrison supermarkets stakeholders.
3 Understand approaches to strategy evaluation and selection.
3.1Analyze possible alternative strategies relating to substantive growth, limited growth, or retrenchment for Morrison supermarkets.
3.2 Select an appropriate future strategy for Morrison supermarkets.
4 Understand how to implement a chosen strategy.
4.1 Compare the roles and responsibilities for strategy implementation in Organizations.
4.2 Evaluate resource requirements to implement a new strategy in Morrison Supermarkets.
4.3 Discuss targets and timescales for achievement in Morrison supermarkets to monitor a given strategy had not gone into administration.
Conclusion.
References.
Introduction:
Business strategy is a keyword for business organizations. Business strategy means setting a proper strategy that mainly helps to achieve the organization’s goal. Movement, Balance, and leverage are three key elements that are needed to set a perfect business strategy. The strategy turns out to be still essential when it is recognized that there are inadequate funds to achieve these objectives.
A business strategy is necessary to develop a plan for the long term. The business strategy’s main aim is to enhance the overall organizational growth and increases the quality of performance. Management must be research the whole business conditions very closely. After that, they can easily decide which way is best for their organization. The business strategy mainly provides a vital guideline that is very effective for business organizations.“Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value”( Michael H.Porter)
This assignment includes analysis of the business external environment of this organization by analysis of the micro and macro environments and using different analysis techniques. Such SWOT Analysis also covers formulate a process of business strategy planning of the organization.
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Company overview: Morrison Supermarkets PLC
To meet the requirements, the researchers choose Morrison Supermarkets PLC for this case study. The access of the researcher to this business is allowed, that overcome the whole information wanted to learn from the organizations.
Morrison Supermarkets PLC is mainly a service-oriented organization. Morrison Supermarkets PLC is one of the oldest organizations in the overall food industry. They started their operation in 1958 in a small shop. After that, they are facing several problems but they recover them easily. A few years ago they broke the record which is mainly unbroken last 35 years. Nowadays they provide the best quality of services. They achieved the Knighthood awarded in 2000.
- Understand the process of strategic planning:
1.1 Missions, visions, goals and competencies
Morrison Supermarkets is a British multinational company. Morrison Supermarkets are to set their target. Here we discuss the vision, mission, and Principles:
Vision:
Morrison Supermarkets’ vision is to be the world’s top brand for inspiration, creating, and delivering a spirit of adventure. Morrison Supermarkets inspires and stretches everyone to deliver extraordinary results for their customers. Their main vision is to provide quality food for every person.
Mission Statement:
The mission of Morrison Supermarkets is to provide the individual skill to provide the best services products and information that fulfill their wants and needs at the right price.
Principles:
- Honesty: Morrison Supermarkets meets its commitment and speaks the truth about their product. These help them to create a long term relationship with their customers.
- Customer delight: Morrison Supermarkets ensures customer satisfaction both before and after the purchase of the product.
- Capability: To maintain their leadership in the food industry they use installed base, industry connections, financial control, and purchasing power to get top selection.
- Teamwork: Achievement of a goal depends on their employees’ teamwork.
- Goodwill and brand image: Morrison Supermarkets create goodwill and a strong brand image through their product.
- Personal leadership: Morrison Supermarkets creates a dynamic environment for their people in which excellence will be achieved.
- Courage and accountability: Employees of Morrison Supermarkets take decisions and assume full responsibility.
- Continuous improvement: Employees of Morrison Supermarkets both individually and collectively tries to serve better to their customers.
- Open communication: Two ways communication is practiced in Morrison Supermarkets
- Quality: Morrison Supermarkets is committed to expressing quality by exceeding customers’ expectations.
1.2 Review the issues involved in strategic planning:
Strategic planning issues are really involved in an overall business organization. Business strategy planning review issues analyzing is very much essential for overall business strategy policies. Here we discuss the review issues which are directly involved in overall Morrison Supermarkets strategic planning………………..
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