Business and Strategy - Harvey Nichols and Liberty UK - Assignment Example

The paper "Business and Strategy - Harvey Nichols and Liberty UK" is an outstanding example of a business assignment. Every business is operating for one almost obvious reason and which is to make profits and create value for the investors’ money. However, this is not a guarantee for all business as the results depend on a number of factors and most important of which is the business strategy that the business applies in order to make an impact in the market by serving the customers interests in the best way possible (Mark, 2012). In the contemporary business environment, a number of factors have come into play and which warrant the need for the business to employ different business models and strategies that can help win in the competitive environment. Some of the factors that have come to impact the business environment and that have resulted in a change in business tactics include globalisation, technological advancements and expectations of the shareholders as well as changing demands of the customers. It is from this point that a business strategy is expected to be put in place as a measure to help the business to counter any form of pressure and also help it survive in a competitive environment and ensure its long-term sustainability (Berman and Evans 2009). In the current business environment, the performers are always ranked highly in terms of excellence in their business strategies which create impressive shareholder value. It is from this angle that this research is expected to comprehensively cover the concept of strategy in business with reference to two UK companies namely Harvey Nichols and Liberty UK.

• • 1.1 Terms of reference

The aim of this report is to present a detailed analysis of the concept of strategy in business and how it is applied in the retail sector in ensuring that an organization has a competitive advantage in the market. This is particularly important in helping the managers in the retail sector, to understand the importance of strategies in helping the business ensure effectiveness and efficiency in delivering some of the best services and products to the market. The case of Harvey Nichols and Liberty UK will be used in the study.