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Assignment - External Environmental Analysis - Use company Name ASDA Capstone Project.
The capstone project is "Strategic Business Analysis: Developing a Plan for Growth." It requires you to assess an organization's business strategy, leadership system, global prospects, code of conduct, and profitable growth opportunities with an ethical emphasis. Construct a detailed and well-thought-out analysis of a real-world business that employs many of the business theories, concepts, and relevant strategic analysis tools studied in the MBA program. In this module, you will analyze various aspects of its external environment.
Solution - EXTERNAL ENVIRONMENT ANALYSIS OF ASDA
The External environment analysis is used to measure internally the external environmental factors in which a company operates. It is conditions previously build for creating an effective strategy that can create a competitive advantage in the market of the company. Its main purpose is to figure out the strategic forces that may determine the present and future success of a company. Here the research work presents the basic concepts and study on external environment, with macro economic factors of environment, company's competitive forces and also company's external strategic resources and their capabilities and competencies.
The company ASDA is a prominent supermarket in UK. The external environment is comprised of the general environment which is properly analyzed using PESTLE model. Generally every company uses a tool that is used to evaluate the general environment is PESTLE model. ASDA is headquartered in Leeds, UK. The ecological, and socio cultural environment all provides threats that ASDA must avoid in order to achieve success. ASDA faces rivalry and threats that is low from buyer power of bargaining, power of supplier, and other substitutes.
1. Analyze the industry/market on the following parameters: a. Economic characteristics, b. Key success factors, c. Trends and opportunities and d. 5 forces analysis (Porter).
Industry/market analysis on the following parameters
1.1 Economic characteristics
There is huge impact of economic condition of a company on its own. These economic factors include employment rate, GDP, GDP rate of growth, inflation rate and interest .The UK is largest economy in the world whose GDP is to be increased to 1.4 percent, which is lowest that has been seen from the year 2009.United Kingdom's GDP the Annual Growth Rate is a average of 2.45 percent from 1956 till 2018, which has reached an extreme point of up to 9.70 % in the very first quarter of the year 1973 and there was a record as low as of -6.10 % in the year of 2009 (Graham, 2018).
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The GDP, known as gross domestic product is the income of the nation and is also the output of the economy of country. The gross domestic product is also defined as the overall expenditure of all the final services and goods which is being produced within a fixed time period. The factors of the economy is highly considered of a particular company keeping in mind the needs of the ASDA, which is also known as level of pay of a company, pressures of the competition, cost of credit, supply and demand of the resources, prices of the energy and many more.
1.2 Key success factor of ASDA
ASDA has also increased the mentioned profits by 6% and its figure of sales which is also increased by 13% last year, where it was published in the company's book account. This chain of the supermarket was first bought for £6.4bn ($11bn) by the retailer who is the largest in world, Wal-Mart, in the year 1999. After undergoing the process of taking over, the profit figures of the particular company have not been publicized but the strategy and details of the account has grown up particularly in the year 2002, the accounts of the ASDA Group Limited has also hiked in the period of past month. The turn-over of the company has also raised from 13% to £12.1bn, while talking of the profits of the operation raised from 24% to £588m (Symons & Sky more, 2017). After taking out the profit leaves, which raised from 6% to £546m (Lancaster, & Massing ham, 2017). Eight stores were opened which were brand new in the year 2002 and also three stores changed its location. The pension of the company stood deficit at £108m by the end of the year 2002. Dividend were also not paid by to parent located in the US. The total donation of ASDA company's staff and by the ASDA Foundation was of £4.2m. (Lancaster & Massing ham, 2017)
1.3 Trends and opportunities
UK's major retailer ASDA is on track for a vegan reformulation and labeling drive. Two years after they have revealed a partnership with The Vegan Society, the certification body says that the company is well on the way to having a wide range of products certified. Registering the products as vegan benefits both companies ASDA and vegans, as it makes the distinction very clear between non-vegan and vegan and also helps consumers to navigate easily the supermarket aisle, Adkins says, adding that retailers and companies are labeling their products as vegan to give consumers an extra point of focus, as a marketing strategy. ASDA expanding in other new areas also like pharmacies, opticians, jewelry products and photo department which will open new doors for ASDA to expand in the market widely (Lancaster & Massing ham, 2017). ASDA has decided they want to grow also in other countries like India and China. On this expansion ASDA will work widely in the world market and in near future they will expand in whole to the world. If ASDA can acquire the small companies and can run beside its own it will help ASDA to grow further in the market. (Symons, & Sky more, 2017)
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1.4 Five forces analysis of Porter
This theory of Porter is basically depended on the concept of that there are 5 forces that determine the intensity of attraction and competition among the market. The 5 forces of Porter also helped to figure out where the power can be found in any situation of business. This is also helpful in clearing about the strength of an organization's recent position in the competition, and also about the organization strength of where it is searching to move.
The 5 forces are:
1. Power Supplier - For ASDA, the suppliers' number for each input being essential; uniqueness of their product and services; the strength and size of the mentioned supplier; and cost of transferring from one particular supplier to another.
2. Power of the Buyer - For ASDA, the process is of assessing the easier method for buyers to lower the price. It is done by the buyers' number present in the market, and importance of each particular individual buyer to the organization (Naidu, & Aspirates, 2018).
3. Competitive rivalry- There are huge competitors, who are giving services and products that are undifferentiated and also helps in reducing the attractiveness of the market.
4. Substitution Threat -It increases the customers likelihood of switching to other similar alternatives instead to the price increases. This also reduces the suppliers power and the market attractiveness according to Naidu, & Aspirates, 2018.
5. New entry Threat - Every market generally attracts entrants that are new and that entrant erodes the profitability of the business. Like scale economies, patents, policies of the government or the capital requirements, where the profitability will be reduced to a rate of competition level.
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2. Analyze the organization's competitors, using the following: a. Strategic group analysis and b. Competitive strength assessment (based on key success factors).
Analysis of competitors of ASDA, using
2.1 Strategic group analysis
Company ASDA might use this analysis for identifying its competitors and to figure out how businesses within the group should compete. Any organization which launches any new product might conduct this analysis to figure out how to compete whenever entering in the market condition. Thus creating a map of which businesses serve each market section helps the analysts to discover any markets that are not served at all by the existing strategic groups .ASDA has its competitors like Sainsbury.
2.2 Competitive strength assessment
ASDA has built expertise over the years in making new success rate and by entering into the markets which are new. The mentioned expansion has helped ASDA to construct revenue plans which are new and essential for the company and has also segregated the risk cycle of the economy where it is being operated. ASDA has also successfully merged the different number of companies related to in the recent years for maintaining the operations and for building a stable supply chain in the market.
The above analysis of company named ASDA shows that the company is working successfully in a highly competitive retail sector of United Kingdom. There are certain environmental challenges like unemployment, recession, and decrease in consumers of ASDA' which spending has forced the company to cut all costs and to become more competitive in the market. The present environment in the company invokes its present workers to take some initiatives and all the errors and failures that are occurring while taking the initiatives are measured as progress for the personal excellence as well as organizational excellence.
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