S ubject: Business Strategy Note This is not case study make your own 3.1- Analy

ID: 385283 • Letter: S

Question

Subject: Business Strategy

Note This is not case study make your own

3.1-Analyse the appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or retrenchment for an organisation. Plan at least two alternative strategies, based on the strategic options available with Ansoff’s matrix, which are in line with Starbucks mission and objectives. You then need to apply techniques of strategy evaluation and selection to select an appropriate future strategy for the chosen organisation. Justify your choice. There are 3 different methods used to select an appropriate strategy. You can either test for suitability, feasibility and acceptability (recommend using this one) or use the ranking and scoring method. To secure a pass you need to appropriately apply at least one of them.

3.2 – Justify the selection of a strategy by stating which of your strategic growth options is the best for the business and will give the greatest return.

4.1 – Assess the roles and responsibilities of personnel who are charged with strategy implementation. To complete the implementation process you are required to document the roles & responsibilities of any 2 managers involved in the strategy implementation. You should include responsibility charts and activity schedules for each manager.

4.2 – Analyse the estimated resource requirements for implementing a new strategy for the organisation and how they will be allocated.

Explanation / Answer

3.1

Market entry strategy:

It is the new approach to targeting the market with new products and services by making it allowed globally so that the expansions occurred easily and a new part of business grows in the existing business more rapidly.

Substantive growth:

It basically falls under the growth strategies which helps the companies to target the market shares at a very less expensive and helps to get the market shares from the most potential competitors.

Limited growth strategies:

It restricts the company to keep any due in the market as many small companies try to grow faster in a short period but due to less revenue, they get unable to reach quickly.

Retrenchment strategy:

It cuts the unnecessary expenses of the organizations to make organizations process more stable and financial growth can be achieved more.

The chart of Ansoff’s matrix is depicting mostly the market entry strategies which are shown below:

Existing

Markets

New Markets

Existing Products

New Products

Market Penetration

Product Development

Market Development

Diversification

Starbucks mission and objectives are as follows:

1. It highlights and focuses on the supply chain process to make its flow seamless.

2. After the suppliers are checked properly in an analytical fashion then only the agreements are done with the suppliers.

3. Keeping always a focus is a quite important approach to the business to keep the supply chain activities in the performance.

3.2

The market entry strategy is the best growth strategy for your business and it also gives the return in a new way of development by achieving the massive expansion in business with fulfilling the objectives. From the growing market, it will be the new approach to bring the new products and almost unique services for the customers. It will attract the customers more as it can be the new trend of launching any business which can be expanded globally by targeting the customers and in this way a growing business can be developed in the organization.

4.1

The role and responsibility of the managers are very important in making the implementation of the strategies. The strategies are the key aspects which are necessary to be well maintained by the organization's managers to fulfill the business needs and achieve maximum targets. The companies work process is depending on the strategies like for making marketing strategies, workforce strategies and to target customer includes a sharp focus on all the process also it is necessary to do market research to make the organization objectives fulfilled.

But with a single a mangers it is not possible to fulfill all the standard there is a requirement of more than one manager to make the process effective.

Manager 1

Role and responsibility

1. Strategy of marketing

2. Targeting Marketing channels.

3. Supply chain interaction.

4. Feasibility of business and focus on the goal.

5. The process making to lead the balanced workforce.

Manager 2

Role and responsibility

1. Planning for the business.

2. Design of Client approach techniques.

3. Focus on the query fulfilled which are made by the customers.

4. Problems related to employee benefits and appraisals.

5. Maintain ethical structure and improving the ideas to concentrate on latest trends.

4.2

The resources are the needs or it can be decided by the organization to hold up the process by implementing a new way of work. The resources are analyzed by the managers to target the potential areas of the business to fix the organization standards. The organization are required a plan to know the sector which they are focusing or intended to work for based on the sector a research is required to be done by the organization to know the most potential areas of organization and after this process as per the requirements of the client a decision of new implementations are designed by the managers to make the organization grew with the effective strategies and gives a good performance in the organization.