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4.1 Roles and responsibilities of personnel who are charged with strategy implementation....12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
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The report focuses on understanding the process of strategic planning in the organization
to gain competitive advantage in the UK market. While, report also formulates the new business
strategies for the organization. Report also uses the various approaches to evaluate the strategy
effectiveness in the market to attain growth. Lastly, the report also focuses on various techniques
to implement the chosen strategy in the organization.
Mission: Mission for the Morrison's is to provide best value for the product that
customers purchase from their store.
Their mission is also to reduce their product cost for their market customers and it also
ensure that their price for the product are competitive in the market (Tamer, 2009).
Morrison mission is to capture whole market segment by satisfying needs of all the
audience. Thus, it will increase their market growth.
Companies strategic goal is to strengthening their brand image in the market so that they
should conveniently expand their activities across the boundaries.
Core competencies: As Morrison strength is that they focuses on delivering healthier food
for their market customers, this is termed as a strategic advantage of a business. Further, strategic
planning is done on the basis of formulated objectives, vision and mission of the company. It is
because it sets path for organization thereby management can take appropriate action in the same
direction. It facilitates Morrisons to build its competitive edge in the marketplace and deliver
good quality of services so as to increase overall rate of return. Similarly, vision assist
corporation to develop the long term approach for the management so they can be able to achieve
short as well as long term objectives of firm in an effectual manner. In addition to this, mission
of Morrisons is to provide best value for the money spend by customers. Owing to this,
These all vision, mission, goals and core competencies of Morrison's company focuses on
strategic planning to sustain in the competitive market and maintain an effective position in the
market place. Through assessing all these mission, vision and goals for the Morrison will help
the strategic management to frame business strategy so that company should achieve its desired
outputs.
Availability of resources: Before formulating the strategic plan for the Morrison's it is
necessary to identify the total availability of human resource and capital in the company
so that strategic plan should work effectively in accomplishing the goals. While,
Inappropriate resources in terms of human resource, products and capital will lead to
losses for the company and Morrison's would not meet the requirement of their
customers. Human resource in the company is responsible for developing and
implementing the strategic plan in the Morrison's to accomplish their goals.
Top-down planning: Top-down planning is the effective planning system that contribute
in the strategic planning of the Morrison. Top-down planning ensure that management
constantly be in touch with their middle level staff or employees that assist the
Bottom up planning: While, Morrison can also focus on the bottom-up planning for
ensure strategic planning of the organization. Bottom-up approach provide the
opportunity for the lower employees and staff of the hotel to directly communicate with
the management for the betterment of the Morrison.
Both planning help the Morrison in strategic planning of their organization so that they
should render quality services to their guest. The bottom-up planning is the effective technique to
engage the staff or employees of the middle level in the strategic planning process. Hence the
strategic planning of the Morrison will result in accomplishing the stated objectives and result in
gaining the position in the highly competitive scenario.
The Boston Consulting Group model because this will help the company in allocating
their resources effectively to generate their market share. Position of Morrison on the growth
share matrix help in providing indication of their total cash generation and the company's total
cash consumption.
Cash cows: Cash cows emphasis on generating more cash than the amount of cash
consumed. Morrison's should spend little investment in the market as because such little
investment should be wasted in the retail industry with attaining low growth.
Dogs: In this Morrison should generate hardly cash to maintain its market share in the
UK market. It is typically known as break-even point as Company have relative low
market share and low growth rate that results in neither generating nor consuming any
cash (Peng, Wang and Jiang, 2008).
Question marks: In question mark area Morrison would generally grow with consuming
large amount of cash but as they have low share in the market they would not being in
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Stars: Stars generate large amount of cash with the relative market share and they also
possess high market growth rate with consuming large amount of cash. Morrison here
requires huge funding to compete with the rivalries and maintain its growth in the UK
market (Fleisher and Bensoussan, 2003).
SPACE Matrix: This matrix measures the position of the Morrison organization in the UK
market and also suggest the strategy for them on the basis of their financial strength,
Environmental stability, competitive advantage and industry strength. The Strategic Position and
Action Evaluation matrix that focuses on selecting the effective strategy that will directly result
in attaining the competitive position in the market. The different type of strategies are
Aggressive, Conservative, Defensive and Competitive.
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Scenario Planning: Company uses scenario planning method to make long term plan for
attaining growth in the market. Scenario planning also viewed as changing mindset in the prior
while formulating strategic plan for the company (Ohmae, 2000). Morrison company uses the
SWOT analysis: SWOT analysis help Morrison's in measuring their strength and
weaknesses in relation to their market competitors and it also analyses market
opportunities and threats that the Morrison's will face in the future. Strength and
weakness are the internal forces that should be measured continuously to be competitive
in the market. While, opportunities and threats are the external factor that directly impact
the Morrison to change their policies and structure according to the need. SWOT analysis
of Morrison:
Strength: Weaknesses:
Providing fresh food materials for their Inefficient employees service and need
market customers. improvement in their after sales
Lower prices of their product to satisfy services.
customers. Complicated in house services
Good brand image in the UK market Less developed information technology
for their products and services. in comparison to competitors
Wide network of supply chain As compared to the other brands like
network. TESCO and Sainsbury there
geographical reach is limited.
Opportunities: Threats:
Expanding activities in the Changes in government policies and
International market. procedure.
Political factor: This factor help the Morrison in determining the extent in which
government will influence the retail industry (Carbone and Stoddard, 2001). political
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Economical factor: Economic factor directly impact the company and lead to long term
effects on the production and distribution of the product. For example, Increase in the
inflation rate will lead to change in Morrison company prices for the particular products.
In addition to this, company get its local suppliers which provides raw material that
decreases overall cost of production. Likewise, economies of scale is achieved by the
firm and customers are offered product at lower cost.
Social factor: Social factor also have impact on formulating the business strategy as,
social factor include demographics, geographical locations, cultural trends etc
(Stonehouse, Campbell and Purdie, 2009). For example, Morrisons make food on the
basis of age gourp such as children, old age and young people. Similarly, other products
and provide don the basis of age or income group. Further, changing taste and
preferences of buyers forces management of firm to bring improvement in the present
work enthronement. with these social factors Morrison would understand their market
customers requirement that drive them to purchase their product.
Legal factor: Legal factor include employment law, advertising standards, consumer law
etc. these legal factors will help the Morrison's to know about illegal and practices in
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Porter's five force analysis is an important model to determine the competition level
within an industry. This force model also help in understanding the business situation where
power lies. Morrison's focuses on five forces that help in determining the profitability
(Astrachan, 2010). these are:
Threat of new entrants: Threats of new entrants in the industry will affect the Morrison's
market share and potential customers that purchases their products. Profitable industry
will seek to attract new firm to invest their finance to decrease profitability of existing
firm in the industry. In addition to this, threat of new entrance is very high because of
high bargaining power of buyers. It depicts that, company have to put extra efforts in
order to retain customers for longer span of time.
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Threats of substitute products: Substitute product also threat the existing market players
in the retail industry. If Morrison increases their product prices then customers would
easily switch over to the another product with their range or budget. Similarly, threat of
substitute products is very high as there is high competition in the market. It depicts that
organization have to offer product with unique features and affordable prices that aid to
increase their attention towards the product and services.
Rivalries among existing players: Competitors plays an important role in the retail
industry. Morrison's have competition with their rivalries like TESCO, Sainsbury, Asda
etc. these all companies have their own competitive advantage through innovation that
help them to sustain in the UK market (Nickols, 2012). The
Employees: Employees are termed as an important stakeholders for the company as they
contribute their potential in accomplishing goals that is serve quality products to their
market customers. Through encouraging employee engagement in the Morrison, different
suggestion and opinion of the employees will help in developing and formulating the best
strategy for the company and it will also encourage their inputs that can improve the
quality of their services (Christmann, Day and Yip, 2000).
Customers- It is the most important party which is indirectly connected with the
organization and contribute towards increasing the sales turnover of firm. While
developing the strategy, management of Morrisons takes into account the preferences of
buyers that aid to increase their attention and address their needs in an effectual manner.
Government- Under this, Morrison have to take into account all the factors that are
demanded by the government such as tax, employment law and other related factors of
corporate social responsibilities. These all facilitate to ensure ethical conduct of business
in the marketplace.
Therefore, stakeholders analysis prove to be effective for developing the strategy. It serve as the
guideline for management of firm and ensure successful expansion of firm.
On the other hand, Morrisons can enter into new market with existing product. It assist
management to increase number of customers for existing product. It can be made possible by
presenting the product in unique way. In addition to this, new product can be launched in the new
market that aid to create brand image of Morrisons. With this, competitive edge will be gained by
organization. Also, company will be able to expand itself over the globe and increase the market
share. Therefore, four types of strategies are available for corporation by which organization
prove itself in the marketplace.
Limited growth: Certain growth strategies that Morrison include such as market
penetration, market expansion, product expansion and diversification. With the market
penetration strategy Morrison will lowers their product prices to increase the share of
company in the market (Holbeche, 2013). Morrison should also uses product expansion
strategy to add some innovative features in the existing product to increase their sales and
generate revenue.
Substantive growth: Growth in revenue is an important objective for all the company.
Growth for the Morrison lead to higher profits and powerful place in the market.
Targeting new customers and markets or creating a new product for serving their market
customers with an innovative product will lead to possible growth strategies.
Limited growth: For their growth in the market, Morrison should implement market
penetration strategies through which company will lowers its product prices to capture
the international market. By lowering the prices Morrison will increase their sales hence,
it will generate their company's revenue (Goldman and Gabriel, 2005).
Substantive growth: Morrison should adopt targeting new market customer strategies for
increasing their growth in revenue. Online platform will give opportunities to the
Morrison to satisfy their new customers by offering them quality services and convenient
option to deliver their product directly to their customers through supply chain
management.
Resource allocation: For implementing the strategies in the Morrison's personnel have
responsibility to measure the proper resource allocation in the strategies. Whether
financial resource, human resource or any material. Personnel should manage effective
resources to align with the company's objectives (Vorhies and Morgan, 2003).
Communication: For the successful implementation of strategy the personnel who is the
incharged should ensure effective communication in the organization. The personnel
through communication ensure that objectives are clearly defined to the staff and
employees of Morrison. With the communication personnel should also ensure that
information regarding the project or strategy should be properly shared with the teams
and individual member working in the Morrison.
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Monitoring the strategy: Personnel should also have responsibility for monitoring the
implementation of strategy in the organization. As with wrong implementation of strategy
it will lead to the expenses for the company.
Human resource: Human resource or manpower requirement is the another resource that
is being required for implementing the new strategy in the Morrison. With manpower
Physical resources- These resources consists of raw material,assets and other related
factors that contribute towards creating brand image of the firm by providing good
quality of services to customers. While implement the new strategy, management have to
arrange the necessary resources that aid to ensure consistent flow of production. It
facilitate to cater need of different types of buyers. In addition to this, time line is also the
imperative factors that need to be decided in advance. It is because company have to
provide training for its personnel in accordance with new strategy. It aid to increase
overall rate of return and deliver good quality of services to large number of buyers.
Specific: Specific goals should be clear for the Morrison Company that is company
would capture 30% of their market share in the next 3 years through expanding their
activities through adopting e-business (Teece, 2000).
Measurable: Measurable goals for the Morrison's should be in numerical terms that is
company is financial sound in expanding their activities online.
Achievable: Achievable goals contributes that Morrison's should possess that much
employees that can contribute in achieving the objective. e.g. company should have
caliber and skilled human resource and technology that will help the company in
adopting e-business strategy (Cagliano, Caniato and Spina, 2005).
Reliable: Reliable goals should focus on assigning goals to the employee that will be
accountable for achieving the goals. Morrison should dependent on Marketing
department activities because the marketing department will frame their policies and
procedure regarding e-business.
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Tamer, C., 2009. International business: Strategy, management, and the new realities.
Pearson Education India.
Fleisher, C. S. and Bensoussan, B. E., 2003. Strategic and competitive analysis: methods and
techniques for analyzing business competition (p. 457). Upper Saddle River, NJ:
Prentice Hall.
Goldman, R. and Gabriel, R. P., 2005. Innovation happens elsewhere: open source as
business strategy. Morgan Kaufmann.
Stonehouse, G., Campbell, D. and Purdie, T., 2009. Global and transnational business:
strategy and management. John Wiley & Sons.
Ohmae, K., 2000. The Invisible Continent: Global Strategy in the New Economy.
HarperInformation.
Holbeche, L., 2013. Aligning human resources and business strategy. Routledge.
Kolk, A. and Van Tulder, R., 2006. Poverty alleviation as business strategy? Evaluating
commitments of frontrunner multinational corporations. World Development. 34(5).
789-801.
Verbeke, A., 2013. International business strategy. Cambridge University Press.
Tiwana, A., 2000. The knowledge management toolkit: practical techniques for building a
knowledge management system. Prentice Hall PTR.
Carbone, G. and Stoddard, D., 2001. Open source enterprise solutions: developing an e-
business strategy. John Wiley & Sons, Inc.
Dinsmore, P. C. and Cooke-Davies, T. J., 2005. Right projects done right: from business
strategy to successful project Implementation. John Wiley & Sons.
Journals
Teece, J. D., 2000. Business Models, Business Strategy and Innovation. [Pdf]. Available
through: <http://www.businessmodelcommunity.com/fs/Root/8jig8-
businessmodelsbusinessstrategy.pdf>. [Accessed on 17th February 2015].
Casadesus-Masanell, R. and Enric-Ricart, J., 2009. From Strategy to Business Models and to
Tactics. [Pdf]. Available through: <http://www.hbs.edu/faculty/Publication
%20Files/10-036.pdf>. [Accessed on 19th February 2015].