IBM7006 International Strategic Management Assignment Sample 2024
1.Introduction
This report aims to highlight the process of strategic management of a selected German retail company named Aldi. It can help to acknowledge the business operation of this retail company depth as well as determine the suitable strategic planning that is highly recommended to develop the business outlook. The present report is conducting a brief analysis of the external environment through using tools such as Porter’s five forces.
Besides that, the core resources and capabilities are also summarised in this report as it can help to understand the business of Aldi is flourishing effectively. The bottom line is critically discussing along with presenting the era of ethical planning of this selective German retail company. Lastly, this report is going to focus on a few sources regarding competitive advantage with emphasis on VRIO analysis and deliver some positive recommendation strategy.
2. External Environment
Porter’s Five forces
Aldi is marked as the popular retail giant in Germany through delivering several kinds of management and business operations all over the world. As argued by Achinas et al. (2019), the biggest retailer in Germany named Aldi is accordingly divided into two basic divisions such as the south and north sections based on their business operation. Near about 500 stores are recently operated by this retail organisation as in line with several other sources of retailing giants of Germany (Aldi.com. 2021).
This company is maintaining the guideline of cost leadership strategy as well as suffering the context of a severe mode of competition. As opined by Christodoulou and Cullinane (2019), this retail giant is usually focused on delivering the widest worth of money to all the valuable consumers. In the case of selling everyday inexpensive household items, stationery along with grocery items, it does not maintain the minimum purchasing policy by allowing consumers to shop at will.
- Highly competitive rivalry
The recent level of business competition in the area of the retail industry in Germany is fierce with other business players as the overall area of competitive rivalry is moderately higher for Aldi. As suggested by Guno et al. (2021), the other retail business organisations are actively engaged to offer every product at the almost same price tag. Wal-Mart, Coles and Woolworth are the other organisations that are marked as the major competitor of Aldi.
Nearly most of these companies are largely focused on the area of maintaining a sustainable cost. As stated by Racz et al. (2018), the comparison of the price range is a suitably routine activity, as well as the major differences regarding even some cents, is accordingly highlighted by several listed competitors. Market campaigns are effectively aggressive with few attempts for snatching recent market share from its several rivals. The marketing and advertising costs are raised although prices of products are still kept in the low context (Aldi.com. 2021).
- The medium threat of new entrants
The minimal requirement for business, capital investment as well as wider establishment increasing the area of entry barriers in this retail industry. In the words of Kordana et al. (2019), this company is recently establishing a sustainable retail brand through operating new kinds of retail stores on the German business market. Reaching at the place of economy regarding scales of stock potentially needs huge investment along with time.
As argued by Valencia et al. (2018), both of these make a strong business composition to survive in this new market era. Based on the recent business era, it can be stated that small players actively often end up as new victims of acquisitions and mergers. Low-cost farmers and local supermarkets are taking up the market share of Aldi as a reason for decreasing profits and sales of Aldi (Aldi.com. 2021).
- Low bargaining power of suppliers
The present resulting organisation named Aldi is full of several great suppliers who are supplying the same products at the same time for less than the present market price. As opined by Heiss (2017), several suppliers enormously help suitably pushing the business operation as suppliers are delivering favourable ad discounts terms.
No switching cost is applicable where suppliers are present at the lookout for retailers with the area of the widest number of orders (Aldi.com. 2021). Besides that, they are not present in any position for attempting to impact the market price of several products or not even force them to sell at the highest price.
- High bargaining power of Buyers
Aldi revolves around several kinds of selling products at the very lowest cost as well as each player effectively attempting to reduce price in case of further time. As suggested by Bergmann and Posch (2018), it can help to deliver a suitable bargaining power to all the buyers, on the other hand, the majority of the stores are located close together.
It can help to reach easily at the nearest stores as the consumers are not putting extreme effort on this generation. Besides that, the majority of the stores are offering huge discounts along with having loyalty schemes to returning consumers.
- High threat of substitutes
Aldi is not delivering any unique products as the threat is comparatively higher regarding the substitutes. Besides that, other retailers in the German market are also selling the same kind of products at the same price strategy. As opined by Haag et al. (2019), other retailing companies effectively lay great stress on price reduction, marketing as well as advertising.
Henceforth, it is easy to substitute as a result, the selling products by Aldi can be bought from any other German retailing stores very frequently. As a result, this retail company is facing a higher threat of moderate substitution.
3.Resources and Capabilities
3.1 Resources
The financial resources of Aldi in Germany are comparatively stronger than other retail companies according to the previous year’s case report of this company. As suggested by Haag et al. (2019), the business group of Aldi is effectively operating without any kind of broad loan from banks. Besides that, this company has been making long term liabilities over the last few years.
Based on the recent business report of this company, this retail organisation has raised the optimal sales in the last few years from 2017 (Aldi.com. 2021). In terms of overlooking the present financial position of Aldi, it can be stated that the recent financial position of this retail organisation will continue marked as effectively strong.
Due to the global expansion led to enormous growth, this retail organisation comprises nearly 9800 stores. As opined by Richter and Hanf (2020), it can conclude that the physical resource of this company is largely high to build a desirable and popular retail business firm in the area of the German retail business market. This company is effectively offering a small assortment in respect to usually fast-moving items.
Besides that, depending on physical resources, small warehouses are moderately located at the back of each store (Aldi.com. 2021). Therefore, in case of any need regarding essential raw materials as well as the sorting of supply chain materials is usually easier. In the case of manufacturing each listed product by Aldi, they are highly concerned to make all products through the use of containing wooden components, wood.
As argued by Richter and Hanf (2020), the other resources for manufacturing products are largely facilitated from the generation of paper products that are used through cardboard packaging. It can help to pay attention to source all the raw materials in an appropriately suitable manner.
Based on the business era of international level, Aldi initially focused on a few essential resources of paper and wood, coffee, cocoa, seafood and fish, palm oil along cotton. As opined by Richter and Hanf (2020), the above-mentioned essential materials are listed in the context of raw resources delivered by the supply chain.
Due to the present all of these standard materials, this retail company is making a considerable adjustment to their various lists of the product range. The retail organization is raising the ultimate share regarding the area of certified wild-caught seafood and fish from about 41% to 54%. As a result, the share regarding certified aquaculture products increased from 65% to near about 85% between the years 2017 and 2019 (Aldi.com. 2021).
3.2 Capabilities
Based on the recent business context of Aldi in Germany, it can easily determine that the strategic strengths are marked as the superior competencies Aldi possesses. In the words of Adams (2020), it can help to generate a sustainable kind of competitive advantage as it accordingly leads to earning above the form of average returns. Aldi has focused on low laboured cost along with highlighting the area of price changing policy through delivering leading manufactures for producing their own brand goods (Aldi.com. 2021).
The core capabilities of this retail organization have contained various areas as the company has recently reached the peak stage of the business market in Germany. As argued by Haleem and Jehangir (2017), a uniform pricing system as well as high buying power acts as the standard capabilities that has been maintained by Aldi. Besides that, this organization has placed its business position as one of the biggest food retailers as the consumers are effectively attracted by the unique business system (Aldi.com. 2021).
This company has well-built technological as well as financial resources along with the great expansion of the market globally, which has assisted this company to improve profits and revenues of the company in a significant manner. One of the most important points, this company always provides quality products and the customer service of this company is very developed, which has helped to attract customers within a short time.
In the word of Heiss (2017), innovation is considered an important capability of the company and it has increased the revenues and profits in a huge manner. According to the annual report of this company, the revenues in the year 2018 were 9,190 US dollars and it has enhanced approximately 12% rather than the previous year due to improved product quality and product modification.
The company has expanded its business globally as well as opened various numbers of stores due to financial resources. Currently, this company has 1700 stores as of the year 2020 and it has helped the brand image and brand reputation of the company including sustainability (Alda.com, 2021).
4. Ethical Planning and Triple bottom line of Aldi
4.1 Ethical planning
The ethical planning of Aldi provides a safe environment for the employees and officials with the help of a program. This program allows the business to flourish in the market of Germany and provide services to customers.
Monitoring program
Monitoring programs demand third-party audit reports from the suppliers involved in the business. This strategy helps the business of Aldi to stop malpractices in the supply system and provide safety in the working environment (Varsani, 2018). Child labour is the biggest matter of concern for the business of Aldi as they do not want children to work. All the operations of Aldi are monitored to remove child labour from their business operations. The business of Aldi has proper knowledge of Human Rights and works ethically without causing harm to these rights (Sambala and Manderson, 2018).
In order to work ethically the business of Aldi in Germany provides knowledge about risks involved to the teams involved in the business. Working conditions in the factories of Aldi provide a safe culture and the analysis of risks is evaluated (Sambala and Manderson, 2018). The third-party audit system provides help in removing the unpleasant ways of business and making a safe working culture.
4.2 Triple bottom line
Triple Bottom line theory has 3 parts and all of them are explained below to understand the working conditions and international strategies of Aldi.
Social
A strong channel of distribution is there in the business of Aldi and that provides a boost in providing timely services to customers. Employment opportunities in the business of Aldi allow huge opportunities to improve business and raise profits (Tate and Bals, 2018). A strategy of equal product distribution throughout Germany has helped the business to flourish. Providing opportunities to new talent makes the organization of Aldi rise along with making a brand image. This helps in providing competition to the competitors of business in the retail market of Germany.
Environmental
The business strategy of Aldi has concentrated on carbon emission and plays a vital role in the reduction of carbon rates from the atmosphere. All the operations in the business of Aldi use light vehicles in order to reduce carbon emissions (Raj et al. 2017). This strategy plays a vital role in maintaining the brand image. The technology used by the business of Aldi has helped a lot in maintaining a check on carbon emission. The strategy to minimize the level of carbon not only saves the environment but also provides scopes of growth in the markets of Germany.
Financial
Aldi in Germany has an annual turnover of 91.1 billion dollars and this huge success came with the skilled officials involved in all the operations in business. The business of Aldi has 2500 stores that operate to provide for all the needs of customers (Tate and Bals, 2018). These stores have helped the business to earn a lot and raise the profit scheme of Aldi.
5. Sources of competitive advantages
VRIO analysis
VRIO analysis is considered a strategic management tool and it assists to assess as well as evaluate the competitive advantages of a company along with strategic advantages. According to this study, this strategic tool, VRIO analysis, has helped to evaluate the internal resources and capabilities of ALDI in order to analyze the competitive advantages of this company. VRIO analysis refers to valuable, rare, inimitable, and organized and this company has performed VRIO analysis in order to improve the competitive advantages of the company in terms of company core and non-core competencies.
Valuable
- Brand image
This well-known reputed company, Aldi has a good brand image along with high brand integrity. This brand image of this company is made due to improved sustainability as well as maintaining a quality product for a long period of time (Heider et al. 2021). Evidence has suggested that the brand of this company is recognized as a very honest and trustworthy brand and this company always tries to innovate new products for attracting new customers.
- A good relationship with suppliers
This company, Aldi, has a supply chain system globally and the distribution system of this company is very efficient. Aldi has established a good relationship with customers, which is considered a valuable resource of this company.
- Innovation
Aldi is considered reputed for the innovation process and it helps to improve marketing as well as functional areas of the company. Innovation system has assisted companies to lower the operational cost and enhance the economic scale of the company. Moreover, it has been found that it helps to decrease the environmental threat along with this (Lopez-Cabrales and Valle-Cabrera, 2021).
- Developed capital
According to a report, Aldi is recognized as a large conglomerate and this company can enhance the capital of this company through internal sources. The market penetration as well as market access has been improved through developing capital. Therefore, it is contemplated as one of the valuable resources of this company.
Rare
- International presence
This company has spread its business globally and it has helped to improve revenues and profits of the company in a significant manner. High finance and economy are not only one strengths of this company but also international culture exposure is one of the major strengths of this company (Harrison et al. 2019).
- Developed problem-solving skill
Aldi provides proper training to all employees and the management of this company is very suitable compared to others. This company is more likely to work on a team basis and this has assisted all employees to make decisions properly as well as to work with maintaining creativity. Therefore, this is considered a rare resource and it helps to overcome challenges and issues of the company.
- Risks reducing characteristics
As Aldi is recognized as a very popular company in the region of German, it has improved propensity to take as well as calculate risks. As opined by Istikhoroh et al. (2018), it has helped the company to expand its business in various countries including growth. Moreover, the risk-taking characteristics of Aldi have helped to identify the potential characteristics of this company.
Inimitable
- Offered quality products
This company always offers quality products and it helps to attract more customers within a short time. Evidence has suggested that customers are more loyal to Aldi’s products and this is contemplated as one of the effective reasons for repeatedly buying products.
- Improved marketing communication
The marketing communication strategy of this company is very developed and this strategy aims to attract customers by taking feedback from customers on a monthly basis. Therefore, it is one of the most important inimitable resources, which helps to improve the competitive advantages of the company.
- Competitive pricing
The production capacities of Aldi are very well-built and this company has completed various types of technology in order to improve products as well as reduce costs positively. Effective cost saving along with reducing operational costs has helped to improve the competitive pricing of the company.
- Customer experience strategy
The customer experience strategy of Aldi includes a unique customer experience strategy, which involves high offers to customers, high brand engagement, and others. All of these have helped to improve the competitive advantages of the company along with improving equity (Ariyani and Daryanto, 2018).
Organization
The financial strength of this company has been considered as the organizational competencies of the company, which helps to improve the competitive advantages significantly. The company is considered as more suitable as well as more advanced in terms of technology modifications and technology implementation. In the word of Tresna and Nirmalasari (2018), it helps to maintain logistic management to various operations of the business effectively.
Training of this company has the ability to improve roles and responsibility of the company in a significant manner. All of these are recognized as some of the important organizational resources of this company. Moreover, distribution channel, product capacity, research and development, corporate leadership, human resource, and marketing strategy- all are important organizational competencies of Aldi.
6. Recommended strategy
Recommendations are provided in this study, which will help to improve the international marketing strategy of the company in a positive manner. These recommendations are as follows.
- It can be recommended that the company has to research new territories, which can help to improve the business strategy of the company based on new markets. Evidence has suggested that the company can solve issues regarding logistics and fulfillment by improving its international marketing strategy through research (Schmid et al. 2018).
- It can be advised that the company has to develop local market partners as well as the company needs to work with affiliates, distributors, and other agents, which can help to improve international marketing strategy positively. Recent studies have suggested that developing local partners will help to understand marketing materials and customers’ demands as well as international strategy creation will be made easy by this.
- It can be suggested that the company has to set goals and objectives; it has helped to achieve its demands clearly along with improving international marketing strategy. Setting goals helps to understand regarding business innovation, business modification through improving strategy (Istikhoroh et al.2018).
- It can be recommended that the company has to understand the market competition along with market demands, which can help to understand customer retention, local competition regarding retailing. Besides that, understanding marketing competition will help to define the culture of markets as well as the international business strategy will be easier.
- It can be advised that the company has to be aware regarding distribution channel and distribution strategy such as distributor numbers in countries, business franchise, suppliers, and others. All of these will help to improve the international marketing strategy in a significant manner (Harrison et al.2019).
- It can be advised the company has to assemble strategy documents, which can help to develop a written international marketing strategy positively. It can help to improve the business strategy by understanding the challenges and opportunities of the company. Evidence has suggested that it is needed for the company to plan an international organizational structure, which can help the company to focus on individual responsibility.
7. Conclusion
It can be summarized that Aldi is recognized as a reputed company in Germany and it has expanded its business in various numbers of locations effectively. Porter’s five forces have shown that the threat of new entrants is medium along with rivalries and high customer bargaining power. This company has high financial resources, physical resources, and technological resources, which have assisted to improve the profits and revenues of this company.
It has been analyzed from VRIO analysis that human resource, training, communication, customer experience, innovation capital development is important competencies of this company and it has helped to increase competitive advantages significantly. Accessing marketing strategy as well as improved social media marketing can help to develop an international marketing strategy in a significant manner.
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