Strategic Management - Assignment Example

Download file to see previous pages 4.3 billion (Argos website, n.d.). In order to achieve this result the company has employed about 33,000 people across the business (Argos website, n.d.). While the company has not presented its mission as a separately identified statement, its strategic vision and mission could be derived from the information given on the website; it follows that: “we are extending our product range to help you make more responsible choices, conserve resources and save money” (Argos website, n.d.). Additionally, the company is concerned about the environmental issues and is striving to run the business in a sustainable way. Therefore, it is possible to say the main organization’s purpose is based on three key organizational values, which include not only supply of the customer with an extensive assortment but also conserving of the buyer’s resources and saving their money in sustainable way (Argos website, n.d.). While reviewing the official information presented at the Argos’ and Home Retail Group’s website, it is possible to summarize the key strategic issues and objectives which the company faces. These include (Home Retail Group, n.d.). Leadership in multi-channel retailing The company’s strategy is based on the idea of becoming the market leader in multi-channel retailing and maintaining of this status (Home Retail Group, n.d.). In order to achieve these heights, Argos, being a part of the Home Retail Group is working under the development of highly successful mobile and internet channels to reach its customers and meet their demand (Home Retail Group, n.d.). In future, the company’s management is planning to introduce such developments as: mobile apps for the iPad and Android, and TV shopping channel apps (Home Retail Group, n.d.). However, an integral part of the Argos strategic model is continuous investment in its stores (Home Retail Group, n.d.). Differentiated and market leading formats The company strives to differentiate its form from other retailers. In order to achieve this goal, Argo refreshes its brand and refurbishes its stores (Home Retail Group, n.d.). Product ranges and related services Expansion of the product range enables the company to grow its market share and to drive the leadership in its core markets (Home Retail Group, n.d.). Therefore, Argos is keen on the development of the ways of choice expansion. Delivering value to the customer As a part of its strategy, Argos is aimed at maintenance of highly competitive price position by comparing the price levels, organizing regular promotions to attract more consumers, and designed (and continues to work on) sourcing opportunities through direct sourcing and importing (Home Retail Group, n.d.). By introducing special lines, as “WOW” and “Argos Value”, Argos continues to deliver the best value to the customer. Leveraging scale and infrastructure Efficient cost base The Company seeks the opportunities of both cost reduction and business flexibility (Home Retail Group, n.d.). Financial strength Financial strength of the company is the vital characteristics which is necessary for the further growth and development of business. Thus, for example, the company plans to open about 20 stores during this financial year (Argos ...Download file to see next pagesRead More