Business strategy

7/16/2019 Business strategy

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Table of Contents

Introduction…………………………………………………………………………………….2

Company overview: Morrison Supermarkets PLC…………………………………………….3

1. Understand the process of strategic planning………………………………………………..3

1.1 Missions, visions, goals and competencies …………………………………………………3

1.2 Review the issues involved in strategic planning…………………………………………….5

1.3 Explain the different planning techniques……………………………………………………5

2: Be able to formulate a new strategy ………………………………………………………….6

2.1 Produce an organizational audit for Morrison supermarkets…………………………………6

2.2 Carry out an environmental audit for Morrison supermarkets…………………………….....7 2.3 Morrison supermarkets stakeholders………………………………………………………..9

3 Understand approaches to strategy evaluation and selection………………………………….11

3.1Analyze possible alternative strategies relating to substantive growth, limited growth or

retrenchment for Morrison supermarkets………………………………………………………..11

3.2 Select an appropriate future strategy for Morrison supermarkets……………………………12

4 Understand how to implement a chosen strategy ……………………………………………13

4.1 Compare the roles and responsibilities for strategy implementation in Organizations…….13

4.2 Evaluate resource requirements to implement a new strategy in Morrison Supermarkets….13

4.3 Discuss targets and timescales for achievement in Morrison supermarkets to monitor a given

strategy had not gone into administration……………………………………………………….14

Conclusion………………………………………………………………………………………15

References……………………………………………………………………………………….16



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Introduction:

Business strategy is a key word for business organization. Business strategy means set a proper

strategy which is mainly helps to achieve the organization goal. Movement, Balance and

leverage are three key elements are needed to set a perfect business strategy. Strategy turns out

to be still essential when it is recognized there are inadequate funds to achieve these objective.

Business strategy is necessary to develop a plan for long term. Business strategy main aim is to

enhance the overall organization growth and increases the quality of performances. Management

must be research about whole business condition very closely. After that they can easily decide

which way is best for their organization. Business strategy mainly provides a vital guideline

which 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 organisation by

analysis of the micro and macro environments and using different analysis techniques. Such as:

SWOT Analysis, This 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 the organizations.

Morrison Supermarkets PLC is mainly service oriented organization. Morrison Supermarkets

PLC is one of the oldest organizations in overall food industry. They started their operation from

1958 with small shop. After that they are facing several problems but they recover it easily. In

few years ago they broke the record which is mainly unbroken last 35 years. Nowadays they

provide best quality of services. They achieved the Knighthood awarded in 2000.

1. 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 inspirational, 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 individual skill to provide best services

products and information that fulfill their wants and needs at the right price.

Principles:

Honesty: Morrison Supermarkets meets their commitment and speaks 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 purchase of product.

Capability: To maintain their leadership in food industry they use installed base,

industry connections, financial control, and purchasing power to get top selection.

http://en.wikipedia.org/wiki/Multinational_corporation

http://en.wikipedia.org/wiki/Multinational_corporation



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Teamwork: Achievement of a goal depends on their em ployees’ teamwork.

Goodwill and brand image: Morrison Supermarkets creates goodwill and 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 decision and

assume full responsibility.

Continuous improvement: Employees of Morrison Supermarkets both individually and

collectively tries to serve better to their customer.

Open communication: Two ways communication is practiced in Morrison

Supermarkets industry.

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 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:

Issues of strategic planning: Strategic planning issues are directly impact on overall business

policies. Here we discuss that how it is impact on overall business policies:

Impact on managers: Strategic planning issues are directly impact on Managers

activities.

Targets: Targets are another step of strategic planning. It is always plays a important part

of strategic planning issues. Target people of the organizations are: Consumers, Supplier

and other external stakeholders.

When to plan: Plan is mainly set when organization is issues a new business

development product or services. New investment are involved in different sectors than

they need to develop these strategic plan



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Who should be involved: Strategic plan are involved both internal and external

stakeholders. Stakeholders are the main operators in overall business procedure.

Role of planning: Strategic plan need to play a role which is plays a big part for

organization growth

1.3 Explain the different planning techniques:

Here we analyze the different planning techniques:

SPACE: Financial strength, Competitive advantage, Environmental stability and Industry

strength are the important elements of Space techniques. Through this strategy Morrison

Supermarkets gives emphasis to a particular element of the marketing mix that is seen by

customers to be important and as a result gain meaningful competitive advantage. Throughstrong brand identities, consistent pursuit of those factors which customers perceive to be

important, greater flexibility, higher service levels, speed of distribution, differentiation strategy

can be achieved.

2: Be able to formulate a new strategy

2.1 Produce an organizational audit for Morrison supermarkets:

Strength:

I nternational strategy: Morrison Supermarkets added some of senior managers in the new

companies or market so that company can run as per old settings.

Globalization: Morrison Supermarkets has a strategy to all over the world.

Domestic Strategy: Morrison Supermarkets is putting effort by fulfilling the commitment to

maintain its reputation.

R&D: Morrison Supermarkets spends a lot on R&D and develop very useful machine.

Employment: Morrison Supermarkets creates a job opportunity in a huge amount of

unemployed people.



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Weaknesses

Wrong Advertisement: One of the major reasons for company failure is wrong advertisement

of media

Service: Selling of Morrison Supermarkets foods are reduces because they are unable to fulfill

the customers demand.

Opportunities

Increasing demand: Increasing demand of customer is a big opportunity for Morrison

Supermarkets.

Technology: Improved or advanced technology helps the Morrison Supermarkets company to

create new products.

Political: Political stability also creates a big opportunity for Morrison Supermarkets Company.

Threats

Demography: Population increase rate causes unemployment problem that might affect the

number of potential customer.

Economy: A fast growing economy sometimes creates competitors.

Technology: Spending on R&D sometimes unable to create desired outcome.

2.2 Carry out an environmental audit for Morrison supermarkets:

The factors that affect from outside of the organization are external environment factors.

External environment factor is divided into micro environment and macro environment factors.

Micro and macro environment factors of Morrison Supermarkets are given below-

Micro environmental factor

Customers: Customer is the heart of any business organization. Organization need to know the

expectation of consumers. In this world, customers are not waiting for long time. Quick delivery

can help the organization to increase their consumer satisfaction level. So Morrison

Supermarkets should aim to attract and retain customers through products.



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Employees: Employees are another important part of micro environmental factors. Well trained

and skill employee can change the overall position of any organization. Morrison Supermarkets

is always conscious about their existing employee skill, knowledge and individual performance.

Morrison Supermarkets believes that trains its employees in a way that they can serve their

customer properly.

Suppliers: Supplier is another integral part of any business organization. Morrison

Supermarkets always maintains good relationship with suppliers. Morrison Supermarkets

collects its raw materials they need to carry out their business activities from supplier.

Distributors: Distributor plays a vital role in business strategy plan. Morrison Supermarkets is

always aware about their existing distributor activities. Sometimes Morrison Supermarkets sells

their product through distributors.

Competitors: Competitors is the key factor in any global or local organization. Morrison

Supermarkets is always conscious about their competitor. Morrison Supermarkets maintains a

professional management team to recover these factors. Their main activities are observing

competitor very closely. Because they believe that competitor are always looking for their

activities. Rivalry between competitors is potentially the most threatening force that managers of

Morrison Supermarkets must deal with it.

Macro environmental factor:

Technological factors: Nowadays technological factor is increased day by day.

Technological environment of Morrison Supermarkets consist of the following things-

New manufacturing process.

Industrial productivity

Efficiency of infrastructure

Socio Cultural factors: Socio-cultural factor is another macro environmental factor.

Here we shows some factors which are directly connected to business activities:

Population size and distribution

Education levels

Income levels

Age level



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Growth level

Other demographic factors

Legal factors: Legal factor is also linked with macro environmental factor . Here we

shows some Legal factors which are directly related to business organization:

Worker safety law

Environment protection law

Minimum wage law

Economical factors: Here we shows some economic factors which is related Morrison

Supermarkets operations:

Economic growth.

Inflation rate.

Financial and political health of trading partners

Inventory levels



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2.3 Morrison supermarkets stakeholders

Importance of Stakeholder analysis: Stakeholders are important part of business organization.

Stakeholder analyses are required to be considered to achieve their organization goals. When we

are analyze the importance of stakeholder analyses than they get some benefited. Here we

discuss the benefits of stakeholder analysis:

Identify the organization lacking easily

Need to collect potential issues

Easily distribute organization information

Reduces the negative impacts

Increase organization brand image

Perfectly execute organization plan

Take the opportunities

Stakeholders can change the overall organization

Morrison supermarkets stakeholders: Morrison supermarkets are maintaining both internal

and external shareholders. Internal stakeholders are directly impact on their internal activities.

On the other hand, external stakeholders are directly impact on their external activities.

Sources: leadershipchamps.wordpress.com

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3 Understand approaches to strategy evaluation and selection:

3.1Analyze possible alternative strategies relating to substantive growth, limited growth or

retrenchment for Morrison supermarkets:

Organic growth Strategies: Organic growth strategies are one of the important part of overall

business strategy. Strategic plan always requires some strategy which is helpful for them to

continue their business. Revenue, Public Relations and Quality are the main function of overall

organic growth.

Sustainable growth strategies: Sustainable growth strategies are mainly constantly supported

business activities. They try to focus on reduction policies and other internal activities.

L imi ted growth strategies: Limited growth strategies are one of the significant part of overall

business organization. Market Share Costs Complexity and Considerations are the main

functions of business Limited growth strategies.

Retrenchment Strategy; Turn around Strategies, Divestment Strategies and Liquidation

Strategies are the main functions of retrenched strategy.

3.2 Select an appropriate future strategy for Morrison supermarkets:

Organic growth strategies are one of the better alternatives. Morrison supermarkets easily

maintain this growth rate process. It assists to organization to accomplish their goal. When

Morrison supermarkets are maintaining Organic growth strategies perfectly than they can take

advantage. Here we discuss that how Organic growth strategies an appropriate future strategy for

Morrison supermarkets:

Revenue: Revenue is always effective for business organization development.

Public relation: Public relations are plays a vital role in overall economic procedures.

Organization need to focus on these elements.



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Quality: Quality maintain is an integral part of every business organization. Otherwise they are

not sustaining in the market.



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4 Understand how to implement a chosen strategy

4.1 Compare the roles and responsibilities for strategy implementation in Organizations:

Strategic implementation is important to a company’s success. A successful

implementation plan must have a very clear vision about company’s visions and goals.

Everyone in the organization must be engaged in the strategic planning process to make

the company successful. Roles and responsibilities of strategic implementation process in

Morrison supermarket are given below-

Communication: To carry out the strategy successfully it should be clearly

communicated throughout the organization. Communicated strategy helps everyone to

understand their responsibilities.

Project teams: A project team with efficient members helps the organization to achievethe organizational goal and carry out the strategic plan effectively.

Identify team and their responsibilities: Putting wrong people in the team may destroy

the project fully. So it is the management’s duty to select the right person for the team

and help them to understand their responsibilities.

Benchmark targets: It is the management’s duty to select the target of the organization

and lead the project members according to it.

4.2 Evaluate resource requirements to implement a new strategy in Morrison

Supermarkets:

Successful allocation of resources depends on the proper allocation of resources. It helps

the organization to make the best use of available resources and other assets. Finance,

Human Resources, Materials and Time are most common and most important resources

for every organization. A brief description of the resources of Morrison Supermarket are

given below-

Finance: Without financial support no one can run the business for a single day.

Morrison Supermarket makes effectively financing their project to make profit for short

run and as well as long run and keep a fund to meet quick financial need.



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Human Resources: Without proper human resources it is very difficult to run the

business effectively. Morrison Supermarket hires and recruit right people to run their

project smoothly.

Materials: A continuous success of any product or services depends on the high quality

raw material. Morrison Supermarket ensures the quality of their raw materials.

Time: Morrison Supermarket run their business by delivering the products and services

at the right time.

4.3 Discuss targets and timescales for achievement in Morrison supermarkets to monitor a

given strategy had not gone into administration

Without knowing the targets and maintaining timescales no one can make effective use of their

strategic plan. Effective implementation of strategic plan depends on these two factors. Now we

are going to discuss about the Morrison supermarkets targets and timescales-

Morrison supermarkets Targets: Without specific target no business can survive for

long run. Morrison supermarkets set specific target for their organization and lead the

employees toward the targets and monitoring their performance.

Timescales: Morrison supermarkets set a timescale for their activities to achieve thin

their goal within the time limit.

.



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Conclusion:

Land rover UK is one of the oldest brands in this world. Land Rover UK need more concentrate

about their existing business policy. They need to develop some attractive marketing policies

which are really grateful for them. They need to focus on some strategic elements such as

shifting business policy according to market situation, always conscious about their competitor

activities and develop skilful resources team. If they implement these perfectly than they can

easily achieve their business objectives. Nevertheless, Land rover UK plays a vital role for

development in our global economy.



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Website:

www.morrisonsupermarket.co.uk.

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