unit 32 business strategy assignment

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Unit 32 Business Strategy in Organization Assignment

Introduction

Business strategy refers to establishment of organizational objectives and standards that increase and encourage existing approach of organization. In other words business strategy is art of operational planning, arrangement of resources, analysis of skills and capabilities of staff members to assign role and responsibility to achieve the goals and objectives. The Unit 32 Business Strategy in Organization Assignment will evaluate and assess the mission, vision, objectives and goals of Samsung organization that operating business in communication and electronic industry. Organization belongs to Korea and started business in 1938, since than company has develop business across the world by producing quality products and services according to demand of market and trends. Samsung is one of leading electronics and communication manufacturing organization in world which has good brand name and trust in customers. Apart from that, report will analyze the factors for developing the new business strategy by performing internal and external business audit. Moreover, the report will evaluate the alternative strategies and recommended the strategy for developing the business of Samsung. Furthermore, report will assess the role and responsibilities of personnel and provide the information about the resources that required for implementing the strategy to achieve the business objectives.

1.1 Mission, vision, objectives and core competences of organization

Samsung is leading electronic company that offering advance products like TV, smart phones, music systems and communication gadgets in different range and qualities that meet the satisfaction and purchasing power of target customers (Halbert and   Ingulli, 2014). Company has stated mission, vision and objectives for business and working accordingly to achieve them efficient manners. Organization has appointed skills and qualified staff those supporting and encouraging business activities of organization.

The mission of organization is to emerge as market leader in the communication and electronics industry all around the globe. Management is focusing on the improvement in products and service quality to meet the expectation of customers. In addition to this, company is looking to develop innovative products and services that give competitive advantage over rivalry firms.

The vision of Samsung is to develop inspiring future oriented products and services that help people to perform the work more easy and effective manners. Company is aiming to develop more entertaining and IT based products that influence the decision of target customers (Hamilton and Webster, 2012). The vision of organization is to be the leader to industry by 2020. The management of company is working on the vision by increasing production and standard of products by using the advance technology.

Objectives:

Following are the key objectives of organization that used for developing the strategy and plan.

To become the world leader in electronics and communication industry.

To build strong brand image.

To manufacture quality products and services using the advance tools and technology.

To satisfied the needs and expectation of customers.

To improve the use of internet based technology in new and existing products.

To sustain and encourage market position by performing CSR activity and marketing.

Every organization work according to goals and develop plan and strategy to meet them. Samsung management has determined goals like to become No. 1 in industry and increase the sales and market size. Moreover, company has define the goal to improve the sales up to 400$ and change the scenario of entertainment system and products by using the technical tools to improve the effectiveness. Additionally, company is looking to expand business size by starting joint venture with local companies of target nations.

Competencies:

According to the business report and brochure of company, core competencies of organization are to develop products and service to gain the competitive advantage. Majorly four competencies have been identified about Samsung such as creative people; develop innovative culture, being a technology leader and creation of customer value (Harison and Koski, 2010).  These competencies make organization different from other leading firms from industry. Moreover, company is working on the product quality and implementation of new technology to develop innovative products.

1.2 Factors that have been consider while formulating strategy

There are many factors and elements that requires to be consider while management frame and implements strategy for encouraging the business activities and develop new plans to meet the goals and objectives. In addition to this, Samsung management has to consider the following factors before developing the business strategy:

Political factor: In order to develop business at different nations, consideration of political environment to expand the business will help to gain competitive advantage in establishing business and utilization of resources (Hill. et.al. 2010). By analyzing the political regulation and process of offering license would be essential to make changes in existing approach and formulate new strategy.

Competition: This is an important factor that requires major concern while developing new strategy for encouraging business. Samsung managing to evaluate the plan and policies of competitor organizations like Apple, Sony and Motorola which were offering quality products. By considering the facts of those companies will help to add innovative elements in business strategy.

Market trends and customer needs: Company is looking to frame business strategy for developing business, for that purpose evaluation of market trends like new techniques, marketing approach and expectations of target customer will help to establish effective strategy. However Samsung management has good sense of market needs and trends but sudden changes in technology affect the planning of organization.

Economy: This is consider as important factor while organization formulating business strategy. Economy conditions have significant impact on the cost of raw material, manufacturing and logistics of products and services (Holbeche, 2009). Management has to collect information about the economy situations of different nation to maintain flow of operations and gain the maximum profit.

Legal factors: According to business reports and news Samsung has been fined many times for breaching the copyright regulations and not following the legal rules and regulation for marketing the products and services. In order to frame the strategy, consideration of legal aspects of law and regulations is necessary to sustain the market position as well as influence the brand image.

Technological factor: Samsung is leading communication devise manufacturing organization that using technology for developing products and services. In the present time, technology has achieved an essential place and it is considered as the most vital variable of micro environment which have influenced the development of various products of Samsung. If organization aiming to frame business strategy to achieve goals and objectives, understanding and knowledge about the technology is important.

1.3 Effectiveness of techniques used for developing strategic plans

In order to develop business strategy and meet the organizational goals and objectives, different types of tools and techniques have been used for analyzing the required standards. For developing the business strategy for Samsung, the management could use following techniques that will help to ensure the growth, evaluation of current capabilities and forecasting of future needs and demand. By using these strategies company will able to scan the environmental conditions and analyze the key issues and factors that are affecting the existing business approach of organization (Houdet. et.al. 2012). This kind of information will help organizational structure to develop the strategy to overcome the weakness and work according to strength by developing aggressive and sustainable strategy using the following analytical approach:

BCG matrix:

To develop the business strategy and analyzing the issues and strength of organization, the top management could use this technique. BCG matrix will aid to determine the growth rate, market share and basic issues that would support to analyze the current position of company. Moreover, by using this technique, Samsung management will be able to evaluate the performance of existing products and services to make changes according to requirements and other substitute products (Jain, 2014). This strategy categories the products according to performance using Stars, Question mark, Cash cows and Dogs that have different meaning and performance standard. Hence, it is considered that use of this technique will be beneficial for organization.

Ansoff matrix:

This is another technique for evaluating performance and makes changes in the business plan and strategy to achieve the objectives. According to this, strategy, company will able to analyze the sales and marketing process of existing products as well as make decision to diversify the communication and entertainment products into other category (Jeston and  Nelis, 2014). Ansoff matrix gives the knowledge about the needs and demand of target customers. This matrix uses the review of customer feedback and market survey reports. Apart from that, to develop the strategy that gives the competitive advantage use of this strategy will be beneficial for Samsung.

SWOT analysis:

This is an important technique that gives the actual understanding about the current performance of organization. By using this technique, Samsung management will be able to develop sustainable business strategy that will overcome the impact on weakness and threats that identified in SWOT analysis. Moreover, it will help to gain the information about the opportunities and strengths to consider them for developing the plan and meet the goals and objectives. In addition to this, SWOT analysis helps to evaluate the internal business function effectiveness and use of resources for developing the new business strategy to encourage the outcome of business.

2.1 Strategic positioning and organizational audit

Strategic positioning refers to achievement of goals and objectives into desired results of organization. The positioning of Samsung is good as company has better understanding of consumer needs and developing products and services accordingly. Organization has good range of products and services for all types of customers including middle and upper class people (Kitching. et.al, 2009). In order to determine the strategic positioning in market, management consider different factors and internal elements that gives idea to make sustainable plan for expanding business operations as well as encourage the existing approach of company.

Table 1: SWOT analysis

2.2 Environmental audit of organization

For evaluation of external factors that significant impact on the business performance of organization PESTLE analysis technique has been used. In order to gain the information about the impact of external factors, Samsung management could use below listed information.

Political factors: Samsung is performing business in different nations that have different rules and regulations according to internal culture and business environment. Political factors have significant impact on the business strategy of organization as corporate tax, allocation of resources and implementation of rules and regulation will affect the plan for company. However, organization has good relation with the national authority of different nations that helping to promote the business (Luo.et.al, 2011).

Economical factors: This is considering as important external environment factor that influence and shape the business operations of organization. According to current scenario, economical conditions of world and organization are stable and supporting in business development. The economic factor mainly includes the rates of interest, inflation and deflation rates, economic development and growth of the country with respect to the company. The company had fixed appropriate policies in the operational market on the basis of the economic strength and size of the targeted customer segment. 

Social factors: Organization is considering the social factors to develop products and services that are user-friendly and encourage target customers. This has positive impact on the brand image of Samsung as company is considering the belief and offering additional values in products. In addition to this, organization has introduced low cost mobile phones to increase the market share and size by attracting lower middle class people.

Technological factors: Samsung is technology based organization that manufacturing communication and entertainment devises according to requirements of customers. Company is being raked among top innovative organizations of world. This has positive impact on the brand image of Samsung. In spite of that, company has good resources to develop new technology and maintain high standard that gives competitive advantage.

Environmental: The top management of organization has good understanding of environmental issues and changes in climate (Ma and Hong, 2010). Company is developing products without using Mercury and Spray paints as both considered as hazardous for the environment. This goes in fever of organization as well as encouraging other manufacturing firms to use this technology.

Legal factors: According to the analysis it is being considered that Samsung is not good in meeting the legal rules and regulations of technology and patents. Organization is facing many challenges that affecting the reputation and customer base. Samsung has been fined many times for breaching the copyright act and use of banded resources.

2.3 Significance of stakeholder analysis for developing strategy

Stakeholder plays critical role in development of strategy and identifies the key issues that hampering the performance of company. Majorly two types of stakeholders take participation in organizational meetings and decision making approach. The key stakeholders of organization are employee, customers, suppliers and strategic partners. Analysis of stakeholder expectations and needs helps the management to include their objectives in business strategy planning and as well make changes in the existing process of satisfying the objectives (McDonald and Wilson, 2011). The stakeholder analysis would benefit Samsung in getting more investment resources and ideas to expand its products and services and establish a recognized position in the market all over the world.  The analysis of stakeholders helps to forecast the upcoming conditions and expectations of organization to develop sustainable business strategy. Moreover, allocation of resources and process of utilizing them will be beneficial for organization.

Additionally, consideration of government and competitor policies and media will help Samsung to develop plan and involve the new function to engage the all stakeholders and gain their support to meet the business outcome as well overcome the impact of political, economical and legal factors that have major impact on the brand image of company.    

2.4 New strategy for Samsung

Samsung has been listed in the top most companies in the sector of electronics and telecommunication in the whole world. It had achieved a renowned brand value and image for its products and services among people. It has been found that in the past few years the organizational sales of the products and the services had been diminished and thus had become an issue for the organization. It has been identified that the there are several aspects which had affected the organizational business like the rule and legislations as patent rights, economic conditions and the proper utilization of the resources globally(Ma.et.al, 2010). However, the business of Samsung had also been hampered as the competition level and the customer expectations had taken a new way and other companies like Microsoft, Apple, Sony, etc had come up with the new innovative products and had pulled the customers towards them. To attain sustainability in the market position there is a need to bring changes in the functions, quality and the products offerings which would surely enhance the sales of the company. Thus to make these changes Samsung must implement strategy of products reintroduction.

Additionally, the company could also bring changes in its distribution channels like e-commerce and online media could be utilized to explore its business activities and the sales procedures. This strategy could also prove to be profitable deal for the organization. The customer preferences and the buying behaviour have been changed day by day as the competitors are offering good and attractive discounts and schemes to them (McDonald and Wilson, 2011). Samsung had recently introduced the insurance offers and EMI schemes for the product and services which would help in increasing the sales revenues and number of customers.

The recent trends of using the digital resources like website, social media, etc. are also needed in the marketing activities of the products. This makes the evaluation of the product for the customer easier and convenient to take decisions regarding the purchase. Moreover, to attain the desired objectives and the goals of the business the organization must conquer the threats and weaknesses by making its strengths and the opportunities as a base. The key strength of the organization is utilization of advanced technology, its brand image and value and the high quality products at low prices. With the help of these strategies the management would be able to enhance the business activities in more efficient manner. This particular strategy would assist the planning and the approaches of the organization to hold on to the top most position in the whole industry globally (Rika, 2009).

3.1 Alternative strategies for developing business of Samsung

There are several alternative strategies which could be implemented for bringing innovation and improvement in the business activities of the Samsung Company. Samsung could adopt one of the strategies briefly discussed below which would support the company to achieve higher level of position in the market and influence the present business activities and the new market segment as well (Simon.2011). The alternatives are listed below:

Retrenchment

Retrenchment is been utilized by the organizations for overcoming the operation activities and the size of the business. The strategy is been utilized to reduce the expenditures as per the objectives and the goals so that to attain financial stability and maintain higher level value in the market. As per the evaluation the strategy is been adopted when the organization had aimed to build the market growth and cut down the expenditures which are increasing the financial reporting on it. This strategy is been used when there is a adverse condition as if the products and services are not gaining good performance level and are not receiving any of the profits (Brannen.et.al, 2013). In addition to this, this strategy would help Samsung to manage the resources and improve the effectiveness in the production and the distribution of the services as well.

Limited growth strategy

Limited growth strategy acquires a potential of exploring and boosting the market activities of the organization for the expansion of the product and the diversified services in the market. Thus the strategy would help Samsung effectively with respect to the market development and business expansion. However, the implementation cost of this strategy is comparatively high and could lead to hindrance to the organizational planning. As per this strategy Samsung could bring diversification in the products like TV, mobile phones, etc. in a new target market by making changes according to the demand and the recent market trends (Schaap, 2012). For this Samsung needs to make prior systematic plans to bring innovations in the structure, features and the prices. This would provide with the proper knowledge and understanding about the market and its consequences in more enhanced way. Samsung would had to perform certain market researches so that to gain proper idea about the market and could introduce the products and services.

Substantive growth

Substantive growth strategy involves the horizontal and vertical integration of the organization for enhancing the products and service standards and provides satisfaction to the customers. This would assist in making sure about the integration and diversification of the business operations having impact on the growth and profits significantly (Luo.et.al, 2011). According to this strategy Samsung must manufacture its raw material or other devices rather than outsources from others as it would increase the profits. This would also diminish the transportation cost and increase the profit margins.

Market entry strategy

This strategy supports in developing the market share of the company with the help of imports and exports of the products and services. The management of Samsung could make use of the market entry strategy through joint ventures and partnership with the leading organization from similar industry. It involves several techniques like licensing, franchising, joint venture, merger and acquisition etc. and would assist in overcoming the operational cost, recruitment of employees and infrastructural developments. This strategy suits Samsung as the local companies acquires good market in small local business locations and making joint ventures with them would help Samsung to enter the new market segment (Tsai and Eisingerich, 2010). This type of initiative would help in overcoming the threats of getting fail in the market and would assist in attaining leading positions in a short span of time. This strategy is the most suitable one to gain large market share in the industry.

3.2 Justifying the selected strategy

Market entry strategy would be adopted by the management of Samsung as to come up with the resolution to the issues and endorse the brand value among the present and the new market. With the help of this strategy the organization would be able to enter new market by means of combining the operation with the other local well established organization. The strategy would be profitable for Samsung as the local companies acquires a good share in the local market area and getting joint venture with them would enhance the quality of operation within the organization.

The strategy had been selected on the basis of the outcomes of the internal and the environmental analysis of the business activities and the operations (Nair.et.al, 2014). However, the strengths and the weaknesses are also been analyzed for an enhanced result and the approaches which are already existed in Samsung so that to have more clear understanding. Samsung could make entry to the new market as it presents various opportunities to increase the number of customer segment and bases. For instance, for exploring the business in China the management of Samsung could make joint ventures with the domestic business organizations who manufacture the raw material for mobiles and TV’s. This type of initiative would help in reducing the threat for getting any kind of the breakdowns in the system. It is been suggested that the organization must execute the market entry strategy that would cover the financial expenditure and sustain market position by meeting the product standards.  In addition to this use of this strategy would help Samsung to approach the market which are been not covered at present (Wunker, 2012). Having joint ventures and pooling the resources would also overcome the expenditures of infrastructural developments. It is an effective initiative for the market development in the entire industry.

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The Unit 32 Business Strategy in Organization Assignment concludes that the business operations and the planning of those activities highly rely upon the business strategy and the market situation of the company. Report had revealed the information with respect to the mission, vision and objectives of Samsung and had also given details about the factors which are being considered during the development of the new strategy for the business. Furthermore, the report had also identified many of the factors regarding the execution of the strategy in the organization with the help of various analysis and evaluations.

Books and Journals

Brannen, M. Y., Moore, F. and Mughan, T. 2013. Strategic ethnography and reinvigorating Tesco Plc: Leveraging inside/out bicultural bridging in multicultural teams. In Ethnographic Praxis in Industry Conference Proceedings (Vol. 2013, No. 1, pp. 282-299). Choi, S.Y., Lee, H. and Yoo, Y., 2010. The Impact of Information Technology and Transactive Memory Systems on Knowledge Sharing, Application, and Team Performance: A Field Study.  MIS quarterly ,  34 (4), pp.855-870. Halbert, T. and   Ingulli, E., 2014. Law and Ethics in the Business Environment. Hamilton, L and Webster, P., 2012. The International Business Environment. Oxford University Press.

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• Introduction of Unit 32 – Business Strategy, Strategic Management Plan Assignment

Part A: Internal and external analysis for strategic decision making

1. strategic directions available for sainsbury, introduction of unit 32 – business strategy, strategic management plan assignment.

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Current study topics specifically include the strategic planning for the organizational management and enhancing the activity in an effective scenario. The present study paper specifically chose Sainsbury plc to include different types of value-added management in the business scenario for the global trading context. On the other hand, establishing a stakeholder activity and identification of different types of potential clarification of the business management is also included in this study paper. The following section of this paper also includes the new market entry related to different types of potential risk factors and advantages. It specifically clarifies the competitive market management with strategic decision-making related business components.

1. Evaluation of capabilities of Sainsbury PLC

Table 1: PESTEL analysis of Sainsbury plc

(Source: Influenced by Vorobyov et al. 2019)

Sainsbury plc and its multinational cooperative management with the largest supply chain scenario in the UK related supermarket situation are also greatly expanded in the global business context. As viewed by Ginter et al. (2018), through different types of political and economic management in the present time Sainsbury plc suffers due to the inflation rate and other economic conditions. Consequently, through some creative management in the business situation and important stakeholder opportunities in the business scenario help to expand, they are supply chain management in the global context and it also includes different types of internal management to enhance the business (Sainsburys.co.uk, 2021). Environment related important policy and their carbon footprint related to some important management also enhance their business in an effective pathway. “Sugar – tax” policy specifically enlarges their business context in a great situation and with the help of UK Government related eco-friendly management Sainsbury plc significantly enhances their business credibility with some understanding approaches to their external business factors (Mbaskool.com, 2021).

Table 2: SWOT analysis of Sainsbury plc

(Sources: Created by Researcher)

2. Porter's five forces model

Table 3: Porter's five forces model

(Source: Self-created)

3. Competitive advantage analysis

3.1 Identification of the potential competitive advantage of

An appropriate definition of competitive advantages is to improve the ability to stay in the competitive market scenario and evaluate the business strain that weaknesses with the approachable management (SATO, 2020). A convenient approachability to the new innovative market strategy with value added service is the main and largest factor of Sainsbury plc. "Competition and Market Authority" include a spontaneous business strategy in the competitive market scenario that enhances the individual business management of Sainsbury plc (Sainsburys.co.uk, 2021) . Frequently the direct and indirect investment with appropriate time span helps to engage; their potential activities that help to establish a long-term sustainable business management.

(Source: Stratechi.com, 2020)

Sainsbury plc 's latest blend of loyalty and different types of priorities information help to manage a great network development across the UK related business scenario and it also helps to take a little step on the international business market (Stratechi.com, 2020). Innovative ideas about the business sale and the appropriate leadership quality with some effective business substitute engage a satisfied marketplace desire to engage their target customer in an appropriate pathway.

3.2 Justification of the organization’s existing

Appropriate market analysis and different types of network impact are now enhancing the value added business policy for both domestic and international business situations. As viewed by Ginter et al. (2018), Sainsbury plc related different types of social networking with the virtual platform and technology. Some innovative uniqueness also enhanced the business management in an approachable way. The appropriate justification for Sainsbury plc's largest existing supermarket in the UK based supermarket specifically includes the brand loyalty and innovative idea for the customer satisfaction with an appropriate supply management system (Sainsburys.co.uk, 2021). Lockup supply is another major supply management that includes the retail partnership and different types of a distributor to provide on time delivery.

(Source: Pngwing.com, 2021)

It is also involved in customer demands and also includes cost effective management in the business area (Sainsburys.co.uk, 2021). Globalization is now one of the important factors for the growth of business and expansion in the entire world related business area and it needs an appropriate economical shift. The explanation of the business management with a unique strategy always needs a promotional activity and some online presence related to effective business networking (Pngwing.com, 2021). Sainsbury plc includes a great business approach in the UK related market area and they also try to implicate some important shareholder management to enlarge their business in the global context.

4. Devise valid strategies and tactical objectives to achieve overall strategic objectives 

Expand business through acquisition and collaboration

The overall objective of Sainsbury PLC is to provide great quality food to the potential consumer at an affordable price. Demand for Sainsbury PLC's food is high in the international marketplace. For this reason, expanding business through merging and acquisition is an effective strategic plan to fulfil the ultimate objective of Sainsbury PLC. As cited by Rohwer and Topi? (2019), acquisition is very common in current market scenarios and it is the most efficient way to adapt to an unknown marketplace. Merging and acquisition provide pre designed infrastructure to a company which increases competitive advantage in an international marketplace. Sainsbury PLC will be able to expand its business in mode regions through this strategic decision.

Develop supply chain management

Impact of covid 19 has been seen in the supply chain management of every company however it has created an opportunity for Sainsbury PLC to develop its supply chain management and gate a competitive advantage in the international marketplace. As opined by Baset et al. (2019), most companies are focused on designing a green supply chain for their business activities. In this way, Sainsbury PLC will be able to establish its brand in the global marketplace and maintain cost competitiveness with green supply chain management. Green supply chain management is the most effective strategic decision for Sainsbury PLC to achieve long term strategic objectives.

Control increasing cost of products

Different kinds of uncertainty have been seen in the global marketplace which has created uncertainty in global business. Increasing cost of raw materials for grocery products is a big threat for Sainsbury PLC; however, Sainsbury PLC needs to implement efficient workers who can operate technologically advanced devices to control increasing costs. Mission of Sainsbury PLC is to provide best quality products to the consumer at a low price and controlling cost is most necessary in current work. Sainsbury PLC is the second largest grocery supermarket in the United Kingdom and it has more than 1500 shops in different regions (sainsburys.co.uk, 2022). Increasing production units can help Sainsbury PLC to control the per unit cost of products.

Improve corporate social responsibility

Maintaining corporate social responsibility is the current trend in the global marketplace Sainsbury PLC can achieve its strategic objectives by improving its CSR activities. As cited by Li and Belal (2018), CSR activities help to increase awareness about a particular brand and provide a competitive advantage in the market. Sainsbury PLC is focused on creating innovative products for potential consumers that offer a different marketplace. Evaluating the competitiveness of Sainsbury PLC in the current market, it has found that it has a strong base that it must make decisions on expanding business in different regions. Corporate social responsibility will guide Sainsbury PLC to meet strategic objectives without any complications.

Part B: Strategic options for Sainsbury

Mission of sense very is to become the first choice of grocery products among global consumers. Sainsbury PLC needs to improve its cost management strategy as well as take innovative initiatives to provide service in different cultural places. The tagline of Sainsbury PLC is" help everyone eat better " and it needs to expand its availability in the global marketplace (sainsburys.co.uk, 2022). Strategic direction is a plan which focuses on implementing progress strategies to fulfil the goals of the organization. Helping the consumer to get products with their minimum effort and maintain their quality at an affordable price will help to achieve its strategic objectives.

The vision of Sainsbury PLC is to become the most trusted retailer in the global marketplace as well as provide a healthy environment to the employees. Sainsbury PLC has decided to create an environment where people will love to work and shop (sainsburys.co.uk, 2022). Increasing the reward system for innovative ideas of employees is going to improve strategic options for Sainsbury PLC. Supplier environment and consumer behaviour are effective for Sainsbury PLC however increasing competition has created uncertainty for Sainsbury PLC. It is difficult to adapt to an ever changing environment and maintain a consistent cost of product in the global marketplace. Consulting with an expert and product development manager will help to create an effective vision that can sustain strategic direction for Sainsbury PLC.

Development plan

A development plan is the most effective strategic option for an organization. Several types of strategies are undertaken by global organizations in order to expand their business that is acquisition, collaboration, venture capital investment and other relevant strategies. Considering this type of strategic option Sainsbury PLC will be able to expand its business in different regions which are going to create a lot of opportunities to develop its revenue. Financial condition of Sainsbury PLC is stable and it has executed approximately 29048 million GBP of revenue in the year 2021 however Sainsbury PLC has suffered to maintain its liquidity over a long period (wsj.com, 2022). Consideration of sustainable technology and an effective development plan is a strategic direction to become a global leader in the retail marketing industry.

Periodic goals

Identifying uncertainty and potential outcome of an organization for a long period are difficult because setting up periodic goals is a strategic direction for Sainsbury PLC to establish short term plans and sustain profitability for a long period. As cited by Yaakob et al. (2019), short term plans are most effective to deal with uncertainty. This strategic option is going to be more beneficial to balancing strategic decisions and the organization's growth in a competitive marketplace. Sainsbury PLC is already established and holds number two positions in the grocery market in the UK however it needs to improve production lines as well as work on training programs for diverse team members to increase productivity.

2. Recommendations for growth strategy

Expand business

Growth is dependent on market capture of a company that Sainsbury PLC needs to expand its business in different places and deal with diverse team members to operate a business. Business expansion is going to be a growth strategy for Sainsbury PLC because it has a good brand value in the international market. As cited by Lin et al. (2020), most organizations are expanding their business in different regions through digital marketing strategy because it is the most efficient way to expand a business. It is recommended to improve the activity of Sainsbury PLC in social media and enhance business expansion plans in the global marketplace.

Understand ever changing consumer behaviour

Demands of consumers and their moral values differ according to their cultural values and their region. Understanding the behaviour of consumers is essential to developing business plans and sustaining product development processes. As cited by Alessa et al. (2021), understanding consumer behaviour is a difficult process which needs a strategic plan to communicate with potential consumers and identify their psychology. There are different kinds of uncertainty and threats for Sainsbury PLC which have been evaluated in the part a while discussing the internal and external environment of Sainsbury PLC. By understanding consumer behaviour Sainsbury PLC will be able to improve its performance and enhance its existence in the global marketplace.

Maintain cost competitiveness strategy

Mission of Sainsbury PLC is to provide quality products at a low cost which is one of the major strategic options for Sainsbury PLC to attract potential consumers. The current ratio of Sainsbury PLC in the year 2021 is approximately 0.60 which represents the efficiency of Sainsbury PLC to maintain a balance of working capital (wsj.com, 2022). In this context, Sainsbury PLC needs to develop financial planning and reconstruct its budget to maintain cost competitiveness in the global market. A large number of funds are required in the business expansion plan and the cost competitiveness plan will contribute to maintaining the financial stability of Sainsbury PLC.

Innovative strategy and new product

Demand for food is changing day by day due to the change in food behaviour of the consumers. In this context introducing new products and foods for consumers that can provide a healthy diet is recommended for Sainsbury PLC to improve its competitiveness. Sainsbury PLC includes more than 15000 varieties of products in its retail and online store (sainsburys.co.uk, 2022). However, Sainsbury PLC has to improve its infrastructure and recruit diverse members to create new products for new consumers. Offering a wide range of foods creates brand value and sustains the existence of a business for a long period.

Develop production line

Development of the production line is essential for Sainsbury PLC in order to maintain cost competitiveness. Infrastructure of most of the stores of Sainsbury PLC is old and will change with time. Sainsbury PLC has to organize a running program for its employees in order to increase their efficiency and behaviour to deal with potential consumers. Production line and service quality improvement are recommended for Sainsbury PLC to achieve strategic objectives in the upcoming period.

3. Evaluate ways and means by which the chosen strategy

Digital marketing

Digital marketing strategy is chosen that will help Sainsbury PLC to expand its business in the global marketplace without investing a large number of funds. Sainsbury PLC has to strengthen its online website to manage engagement of a large number of consumers and maintain safety and privacy of potential customers. As opined by Santoso (2020), digital marketing helps to provide statistical data through different diagrams that help in strategic decision making of a company. Sainsbury PLC will be able to become a market leader in the upcoming period through consideration of digital marketing strategy because after covid 19 most the consumers have preferred to purchase products from online stores instead of visiting physical stores which are time consuming and expensive.

Financial analysis

Sainsbury PLC has provided consistent growth over a long period however a large number of funds are required to develop a cost competitiveness strategy in the current market. As cited by Akter et al. (2020), dealing with financial uncertainty and maintaining the cost of the product is difficult for digital financial analytic tools to improve the decision making ability of the manager. Accurate financial analysis is required to maintain working capital and satisfy employees with incentives and rewards for their excellent work.

Run a campaign to understand consumer behaviour

Understanding consumer behaviour is a difficult task for a company, however, organizing a campaign to our potential consumers about a particular product helps to interact with consumers directly. In this way employees of Sainsbury PLC are able to understand the behaviour of consumers for a particular product or service. A lot of organizations organize campaigns to increase social awareness of different topics. It increases the living standard of people and helps to develop society. Campaign plays a vital role in every organization to sustain its competitiveness in the global marketplace.

Diverse team

Innovative products are required within the organization to improve performance of Sainsbury PLC. As stated by Wang et al. (2019), expanding business in different regions is going to allow Sainsbury PLC to recruit diverse team members to the employee team. Collaboration of diverse team members helps to increase innovative strategies and develop cost competency in the global marketplace.

Implement advanced technology

Efficient supply chain and production line are recommended to sustain the growth of Sainsbury PLC. Implementation of advanced technology is the most effective strategy to develop infrastructure and production lines for the growth of Sainsbury PLC. Consideration of advanced technology is going to increase opportunities for Sainsbury PLC to deal with uncertainty and establish the number one choice of a consumer in this particular industry. aAdvanced technology is required to improve performance of production line as well as contribute in sustainable development of workers skill that they can provide more output for the company

In the first part of this study, the internal and external environment has been analyzed which has represented the infrastructure of Sainsbury PLC and its potential opportunity in the marketplace. Evaluating SWOT it can be said there are a lot of uncertainty and threads however Sainsbury PLC can take necessary initiatives to become a market leader in the upcoming period. This study has evaluated Porter's five forces to analyze market competitiveness which has helped to identify competitive advantage of Sainsbury PLC and justified its existence. However strategic options for sense have been discussed by identifying its mission and vision for the development plan. It has been found that Sainsbury PLC needs to expand its business in different regions and develop financial management through consideration of advanced technology to contribute to the consistent growth.

Ginter, P.M., Duncan, W.J. and Swayne, L.E., 2018. The strategic management of health care organizations. John Wiley & Sons.

Abdel-Baset, M., Chang, V. and Gamal, A., 2019. Evaluation of the green supply chain management practices: A novel neutrosophic approach.  Computers in Industry ,  108 , pp.210-220.

Akter, S., Michael, K., Uddin, M.R., McCarthy, G. and Rahman, M., 2020. Transforming business using digital innovations: The application of AI, blockchain, cloud and data analytics.  Annals of Operations Research , pp.1-33.

Alessa, A.A., ALOTAIBIE, T.M., ELMOEZ, Z. and ALHAMAD, H.E., 2021. Impact of COVID-19 on entrepreneurship and consumer behaviour: A case study in Saudi Arabia.  The Journal of Asian Finance, Economics and Business ,  8 (5), pp.201-210.

Barbosa, M., Castañeda-Ayarza, J.A. and Ferreira, D.H.L., 2020. Sustainable strategic management (GES): Sustainability in small business. Journal of Cleaner Production, 258, p.120880.

Chofreh, A.G., Goni, F.A., Klemeš, J.J., Moosavi, S.M.S., Davoudi, M. and Zeinalnezhad, M., 2021. Covid-19 shock: Development of strategic management framework for global energy. Renewable and Sustainable Energy Reviews, 139, p.110643.

Kang, E. and Hwang, H.J., 2018. Strategic management plan for transnational organizations. The Journal of Asian Finance, Economics and Business, 5(2), pp.119-128.

Li, T. and Belal, A., 2018, June. Authoritarian state, global expansion and corporate social responsibility reporting: The narrative of a Chinese state-owned enterprise. In  Accounting forum  (Vol. 42, No. 2, pp. 199-217). No longer published by Elsevier.

Lin, W.T., Chen, Y.Y., Ahlstrom, D. and Wang, L.C., 2020. Does international expansion constrain growth? Business groups, internationalization, institutional distance, and the Penrose effect.  Multinational Business Review .

Rohwer, L. and Topi?, M., 2019. The communication of Corporate–NGO Partnerships: analysis of Sainsbury’s collaboration with Comic Relief.  Journal of Brand Management ,  26 (1), pp.35-48.

Santoso, R., 2020. Review of Digital Marketing & Business Sustainability of E-Commerce During Pandemic Covid19 In Indonesia.  JIET (Jurnal Ilmu Ekonomi Terapan) ,  5 (2), pp.36-48.

SATO, H., 2020. Strategic management of medical incidents for patient safety and crisis management Applications of the principles of crisis management and recent developments in Japan. Journal of the National Institute of Public Health, 69(1), pp.41-51.

Trotsenko, A.A., Belevsky, T.V., Kievskaya, O.G., Alexandrova, E.Y. and Gurevskaya, L.A., 2018. Definition of the effective strategic enterprise management model in context of economic security. Revista Espacios, 39(36), p.18.

Vorobyov, A.D., Pozdeev, P.V., Kruglova, N.V., Nogovitsyna, O.S. and Tokareva, P.V., 2019. A Unified Methodology of Strategic Management and a Knowledge Management Model. TEM Journal, 8(2), p.554.

Wang, J., Cheng, G.H.L., Chen, T. and Leung, K., 2019. Team creativity/innovation in culturally diverse teams: A meta?analysis.  Journal of Organizational Behavior ,  40 (6), pp.693-708.

Yaakob, M.F.M., Musa, M.R., Habibi, A. and Othman, R., 2019. Strategic management and Strategic Planning in school: Is it worth for teachers?.  Academy of Strategic Management Journal ,  18 (3), pp.1-6.

Fernfortuniversity.com, (2020). ‘Sainsbury (J) Plc Porter Five Forces Analysis’. Available at: http://fernfortuniversity.com/term-papers/porter5/lse/477-sainsbury--j--plc.php. [Accessed on: 29/03/2022].

Iide.co, (2021). ‘Extensive SWOT Analysis Of Sainsbury’s – UK’s Top Supermarket’ . Available at: https://iide.co/case-studies/swot-analysis-of-sainsburys/ . [Accessed on: 29/03/2022].

Mbaskool.com, (2021). ‘Sainsbury’s PESTLE Analysis’. Available at: https://www.mbaskool.com/pestle-analysis/companies/17990-sainsburys.html#:~:text=Sainsbury's%20PESTLE%20Analysis%20examines%20the,the%20business%20of%20the%20brand . [Accessed on: 29/03/2022].

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sainsburys.co.uk, (2022), COMPANY PROFILE. Available at : https://www.sainsburys.co.uk/ [Assessed on 2022-04-30]

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Unit 32 Business Strategy – Assignment

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Unit 32: Business Strategy Assignment Sample-BTEC-HND-Level 4 & 5

Course: Pearson BTEC Levels 4 and 5 Higher Nationals in Business

This unit is dedicated to providing students with an understanding of business strategy and how to use it in order to achieve success. The unit also provides the opportunity for students to practice different strategies so that they can become comfortable with working in an operational, tactical, or strategic role for an organization.

In order to be successful, students need to develop the skills and knowledge required for strategic planning and operational direction. They also need to be able to work collaboratively towards common goals and objectives.

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Assignment Solution of Business Strategy-BTEC-HND-Level 4 & 5

Successful businesses in the 21st century are those that have a strategic plan for their business. This is why it’s important to make sure you’re part of an organization with other like-minded individuals who share your values and goals. From there, you can start to work on a strategy together.

A lot of companies spend time writing out mission statements and creating visions for what they want to accomplish but don’t take the next step in developing a strategic plan or roadmap for how to get there. Strategic planning involves understanding where your company has been, where it currently is, and where you want it to be in the future; then mapping out how best to get from point A (current) all the way through point Z (future).

Learning Outcomes

By the end of this unit a student will be able to:

Analyze the impact and influence which the macro environment has on an organization and its business strategies

The macro-environment has a significant impact on an organization’s business strategies. The macro-environment can be broadly defined as the external factors that affect an organization’s strategies such as economic, political, social, and technological factors. Identifying how these elements may influence your company is critical to making informed decisions for future growth. In this post, we will discuss some of the ways in which the macro environment impacts organizations’ business strategies.

Assess an organization’s internal environment and capabilities

An organization’s internal environment and capabilities can be assessed in a number of ways. One common approach is to conduct a SWOT analysis, which looks at the organization’s strengths, weaknesses, opportunities, and threats. Other approaches include conducting a resource audit or business model analysis.

There are a variety of ways to assess an organization’s internal environment and capabilities.

• One way is to examine the organizational structure. This can give you clues as to how information flows within the organization, who has decision-making authority, and what resources are available.
• Another way to assess an organization’s internal environment and capabilities is to interview employees. This can help you understand the culture of the organization, how satisfied employees are with their work, and what skills and knowledge they bring to their job.
• Finally, you can also look at financial data to get a sense of the organization’s overall health and recent performance. This information can help you understand the company’s strengths and weaknesses, as well as its ability to invest in new projects or initiatives.

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Evaluate and apply the outcomes of an analysis using Porter’s Five Forces model to a given market sector

To evaluate the impact of Porter’s Five Forces on a given market sector, an analysis would need to be conducted in order to ascertain whether each force within this model is “a threat” to the competitive environment of that particular industry.

This means determining whether they’re strong enough to create barriers for entry or exit from that industry for potential new competitors.

When these threats are particularly powerful, it creates conditions that allow incumbent companies (i.e., those currently dominating the industry) to charge unfair prices, dominate markets, and give up little profits as well as enter into unproductive ventures.

Apply models, theories, and concepts to assist with the understanding and interpretation of strategic directions available to an organization

“Applying models, theories, and concepts to assist with the understanding of strategic directions available to an organization is a key component for making sound decisions. This article will explore how these tools may be applied in order to provide guidance on how best to proceed.”

This article will explore how models, theories, and concepts can be used in order to find guidance about what direction should be taken strategically by a company. The article will discuss some of the most common approaches that are typically employed when determining which approach would work best for an organization’s future success.

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• Administering Pricing

Assign Pricing Strategy According to Business Unit

Create a strategy assignment that assigns your pricing strategy according to the pricing segment that you assign to your customer and the business unit on the sales order header.

Assume you already set up profiles, segments and strategies for two of your customers.

For details, see How Profiles, Segments, and Strategies Work Together .

But you want to assign a different strategy for each customer according to business unit.

If the segment is Tier 1 and the business unit is Vision Operations, then assign the Commercial pricing strategy.

If the segment is Tier 1 and the business unit is Vision Services, then assign the Commercial pricing strategy.

If the segment is Tier 2 and the business unit is Vision Operations, then assign the Corporate pricing strategy.

Summary of the Set Up

Modify the matrix class.

Modify the strategy assignment.

Modify the pricing algorithm.

Test your set up.

Modify Matrix Class

Modify the matrix class so you can set the business unit in the strategy assignment.

Go to the Pricing Administration work area, then click Tasks > Manage Matrix Classes .

On the Manage Matrix Classes page, in the Name column, click Sales Pricing Strategy Assignment .

On the Edit Matrix Class page, in the Condition Columns area, click Actions > Add Row , then set the values.

To set the Domain, click the pencil in the Domain column, then set the values. Set them in the same sequence that this table displays them.

Leave all other attributes empty. Don't add a bind variable.

In the Result Columns area, click Actions > Add Row , set the values, then click Save .

Modify Strategy Assignment

Next, modify the strategy assignment.

Click Tasks > Manage Pricing Strategy Assignments .

On the Manage Pricing Strategy Assignments page, click Actions > Add Row , set the values, then click Save .

Click Create Assignment Matrix .

In the Create Assignment Matrix dialog, in the Select Optional Condition Columns area, set the values, then click OK .

In the Pricing Strategy Assignment Rules area, create 5 rows.

Pricing uses the view object that you set up earlier in the matrix class to populate the list of values that you use to select the business unit. The list contains all the business units that you have set up in you organization.

The fourth row captures the condition where you haven't set up a pricing segment and you set the business unit on the order header to Vision Operations.

The fifth row captures the condition where you haven't set up a pricing segment and you don't set the business unit on the order header to any value.

Baseline Strategy can be any strategy that you use when no conditions apply. This way, Pricing can still price the item and avoid an error condition.

Modify Pricing Algorithm

Modify the pricing algorithm so it examines the rules you just set up in the assignment matrix according to the pricing precedence you set in the matrix.

Click Tasks > Manage Algorithms .

On the Manage Algorithms page, filter the Name column for Get Sales Pricing Strategy.

Click the row that has the highest published version of Get Sales Pricing Strategy, then click Actions > Create Version .

Click the link in the Name column of the row that has the highest, In Progress version.

On the Edit Algorithm page, on the Algorithm tab, expand the Retrieve Header Strategy step, then, in the Name column, click Get Header Strategy .

In the Data Sets area, in the row that contains Matrix in the Name column, set the value.

Click Save and Close .

On the Manage Algorithms page, click Actions > Publish .

Test Your Set Up

Open another browser window and sign into Order Management with the privileges that you need to manage sales orders.

Go to the Order Management work area, create a sales order, then set the values.

Click Actions > View Pricing Strategy and Segment , then verify the values.

Reset values.

Related Topics

• How Profiles, Segments, and Strategies Work Together