Introduction
The organization I chose to present report on is Sainsbury. The reason why I have chosen this organization is that it is very well established and well-known; I am going to focus on their formulation, evaluation and implementation of strategies.
About Sainsbury
Sainsbury Plc is the third largest supermarket of UK which was established in 1869. Fundamentally, it is dedicated to cover the range of tasty, fresh food, safe and healthy quality of food but with reasonable price as per the needs of customer. It has extended its business by acquisition of new retail stores by concerning mainly the satisfaction and needs of their customer (Karim, Huda & Khan, 2012). Presently, it is not constrained with its usual range of product of general
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To be able to understand the approaches to strategy selection and evaluation
4. To understand the implementation of chosen strategy (Revoredo‐Giha & Renwick, 2012).
PART (A)
TASK 1.1: Assess how business missions, visions, objectives, goals and core competencies inform strategic planning
Mission Mission statement is a commitment or function which organization expects to meet requirements of their stakeholders (Revoredo‐Giha & Renwick, 2012). It tells that how organization is running their business, how to identify their consumers and how to serve them as well as to identify the range of products and services. The mission statement of Sainsbury is,
• To be maintained as the leading position in UK market.
• To increase the market share of Sainsbury to overseas.
• To bring happy life for every employee of Sainsbury
• Sainsbury desires to bring benefit and success to their stakeholders, clients and employees.
Vision Vision statement explains the fascinating and vigorous outlook of the organization in the near future. It shows the potential benefits and growth of the firm to their stakeholders as well as their investors. Sainsbury desires to be a wealthy and strong organization specifically in giving best products to their customers and in innovation of technologies (Revoredo‐Giha & Renwick,
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Sainsbury wishes to work efficiently, flexible and creatively enhance their products and services quality (Akter 2012).
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Core competencies Core competencies make business outstanding between competitors specifically the company’s products, quality, skills or reputation. It helps the organization to build trust in customers mind and make popular the business brand. Every employees of Sainsbury never forget to serve their customer by devoting wholeheartedly and by understanding the customer needs (Akter 2012). They are they are expert in modern technology, creating value in products and services to make customer truly satisfied.
TASK 1.2: Current issues affecting strategic planning Sainsbury, a leading retailer faces variety of issues which are applicable to their business. Most of the issues are interrelated and complex. They evaluate issues for their capability to effect on their business and set commitment and plans accordingly (Akter 2012). The below questions mostly lies in the heart of strategic and marketing planning process;
• Where do we stand?
• Where would we see ourselves in
Functional Areas of a Chosen Business The different functional areas within the business of Sainsbury’s are as follows: * Customer Service * Retail * Marketing * Trading * Finance * Human Resources * Administration * Payroll I shall not write about what each department actually does within Sainsbury’s: Customer Service This is basically the majority of Sainsbury’s workforce. This involves general duties to be carried out on the shop floor such as checkout assistants which are there for customers to pay for their goods, General Assistants are multi skilled between checkouts and stocking shelves for maximum availability of products for customers. Stock control is another type of customer service Sainsbury’s have.
My organization, Trader Joe’s, is not an international business. Their stores are all located in the United States; therefore, I chose Whole Foods, who is a main competitor of Trader Joe’s for this assignment.
The Sainsbury group today is one of the worlds leading retailers, playing a part in the lives of over 11 million customers a week and as at October 2003 had 512 stores throughout the UK employing over 145,000 people
Founded in 1986, Pret A Manger is a fast food chain, which produces freshly prepared, natural food with over 250 stores throughout the United Kingdom, France, Hong-Kong and the United States. Unlike most fast-food chains, Pret is a private company; they do not face the same pressure to grow as a public company does. However there are many factors that affect Pret A Manger’s marketplace such as economy, competition, technology, political environment, and the standard of living. This report evaluates major internal and external factors affecting Pret A Manger using various analytical techniques.
Strategic planning is crucial for the success of all business endeavors. Analyzing currents trends in technology, consumer markets, competition, and the workforce can play a pivotal part in whether or not the organization can survive. Overtime, strategic planning strategies must be modified in order to compensate for changes in the industry. Goals and strategic planning often necessitate change to ensure that the organization is performing at peak level, while offering the most beneficial and quality services to consumers.
This is the second part of the strategic assignment. In this report the competecies, culture and resource analysis of Tesco is presented. Furthermore in this report SWOT analysis of Tesco is presented and then two strategic options are suggested to Tesco. The strategic options suggested are then evaluated through the SAF model.
To most consumers Whole Foods is known as a chain grocery store specializing in organic and natural foods. Some may go as far as say the name is synonymous with quality. This comparison is the result of Whole Foods’ marketing their brand successfully to consumers demanding their specialized foods. As with any organization, Whole Foods may consider evaluating their strategic objectives and decide if necessary course corrections are needed to reach their objectives and goals. Through a fundamental and technical analysis, I will discuss Whole Foods’ mission, vision, and goals, their competitive environment, and some factors within their strength, weakness, opportunity, and threat analysis. With such data and information I will recommend, if needed, and strategic changes in order to sustain a competitive advantage.
Tesco is one of the biggest grocery retailors in the world, it is one of the top five stores, it was founded in early nineties in UK, and now it is well known company around the global and very famous because of their successful strategies in marketing and how they manage any problem that they are facing. However, in recent day Tesco are facing some problems that may threat their career life, and make them loose their market position. This report will cover these problems, how the competitors are doing to take Tesco’s place, and what Tesco are doing to overcome these problems.
Efficiency has been highlighted as a key financial objective for each company – as it is inherent in optimising profit from any business and helping sustain core business – which is the primary objective of both groups. It is also a good indicator of healthy cash flow management – a specific Sainsbury’s objective.
Promotion: this is to tell the customers that the products or services that is available by advertising will encourage the customers to buy the products or services by offering promotions. Sales: this provides that the goods and services are suitable to customers that they need or want. This area of department involves making sales. This function helps Sainsbury's to achieve the objectives. The way they manage to do this is by increase their sales so that it increases its market share or market segment.
Strategic planning directs every movement in a business and is very essential to business performance (London 2002, pp.26-33). The strategic plan and operational plan are extracted from Best Buy Form 10K to better clarify the current situation and future direction of Best Buy.
We all know Tesco as a food retailer, and we know that they are in constant competition with other retailers such as Sainsburys and Asda, yet we do not know much about what goes on beyond the shelves and the tills, the marketing plans and the day to day tactics that have to be devised to stay the number one food retailer in the United kingdom today.
The purpose of this section of this report is to define the marketing concept; to explain what it means to be a market-orientated organisation; and to show that Tesco’s appear to be a successful, market-orientated company. Furthermore, that Tesco’s employ strategic relationship marketing to offer value to customers’; and achieve higher revenues and brand loyalty in return. Finally, to explain that being market oriented may also have some disadvantages if not carried out effectively.
The key role in solving strategic tasks belongs to strategic planning, which is the process of developing and maintaining strategic balance between organization’s goals and resources in the changing market environment. The purpose of the strategic planning is to determine the most promising fields of activity providing its growth and prosperity. Strategic planning is a component of a broader concept “strategic management”. All four management functions (planning, organizing, leading and controlling), when talking about strategic management include strategic orientation. When viewing strategic planning from the highest level possible within a company, the planning function is the area that stands out as the most important area which involves a great deal of development and focus.
Bibliography: Lawson, A. (2013). Analysis: Is Asda’s five-year strategy the right one?. [Online] Retail-week.com. Available at: http://www.retail-week.com/sectors/food/analysis-is-asdas-five-year-strategy-the-right-one/5054989.article [Accessed 23 Jan.