Developing strategy Essay
The key factors to be taken into account when developing a strategy must included the following: 1. Understanding the customer. Great effort must be made to understand the reasons why do they do they buy, their real need for the product and this must be back-up by correct marketing research. 2. There must be some prediction of environmental reaction as what will competitors do in fighting brands and in price wars. A forecast must be made whether government intervenet.
There must be a correct estimation of resource competence like asking if the staff, equipment, and processes handle the new strategy and in developing new employee and management skills. 4. There must be coordination reporting and controlling relationships and via flexible organizational structure 5. There must be a strong management and employee commitment. 6. There must be a proper estimation of time requirements. 7. There must be a follow-up of the plan by tracking progress against plan
8. An open communication among stakeholders must be kept. 9. There must be ability to focus after making make choices which are true to the strategic mission (i. e. to do fewer things, better). (Wikipedia, 2007) (Paraphrasing made). 2. 4. Does the ASDA develop strategic options
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The fact that it has international operations is proofs of deliberate expansion plans of the company. As to how it evaluates its options however seem to be very simple. The company just sell business units which are losing like what happen in China and Germany. 2. 5. How does ASDA implement and control strategic plans The way that the company does its business was actually based in the historical experience of the founder of the wisdom of selling large quantities even with low profit margins.
This is reality is borne by the fact that company intends on continuously expanding its customer bases while the business unit is earning. It is therefore very easy for the company to make the implementation since the strategy is that as long as there are customers to sell into, it believes it will earn eventually by beating competitors through lower prices of its goods. It has however a very unique of controlling strategic plans that is the company must easily sell business units where its strategy of low prices does not work.