MANA7126 Strategic Management Assignment Sample
Executive summary
The following assignment is based on an analysis of the current strategy of the Yorkshire Cricket Foundation. In order to analyse the current strategy of this company, its mission and value are being evaluated. Environmental analysis, culture and resources have also been highlighted Strategies also proposed in this section of study provides an opportunity for YCF to secure future growth. Whereas scenario planning consists of developing different possible planning through which the organisation may acquire a good possession in the UK cricket association as well as the global cricket foundation. Finally, all significant factors of SWOT are details analysis in this assignment that must be observe and implement in organisation for better performance.
1. Introduction
Strategy plays an important role in business continuous growth and development. An effective strategy enables business management to manage it while activities in an appropriate way. Apart from this, an organisation can be able to complete its rival company in an appropriate manner.
Thi assignment is based on strategic management Yorkshire cricket foundation which belongs to the sports industry. This assignment is based on the preparation of a strategic choice that ensures future growth within the organisation. Yorkshire was established on the year 15th June 2009 and granted charitable trust status on 31st July 2009. This trust is working under the charity wing of Yorkshire County cricket club. This trust has adopted various initiatives that aim to pull more youth towards cricket. Through this, it plays a pivotal role in the cricket community. This study sheds light on preparation of a Strategy based on current position of this company that enables it to secure future growth in the business market.
2. Current Strategic Position
On the basis of its mission and vision statement, the company’s current strategy is being verified. In the analysis, it has been noticed that the company has a mission to create a positive and lasting impact on the people who are engaged in Yorkshire. A mission statement of a company plays a major role in strategic preparation as a company opt for those strategies that are suitable for its mission statement (Kabeyi, 2019). Furthermore, a vision statement of this company is also analysed which shows guiding principles to how to manage activities of a business. Yorkshire cricket foundation has a vision to create a community without boundaries that assist in achieving four core themes like education, health well-being, participation and Heritage. This statement of Yorkshire cricket Foundation (YCF) reflects its organisational objective and motivates engaged persons to achieve these goals.
2.1 Environment
An environment of a business consists of the internal environment and external environment factors. These factors have a significant impact on business operations as the business decision making process varies on these factors. Apart from this, these factors affect business growth and development thus, it is quite necessary for a company and organisations to take these factors in an effective manner (Akpoviroro and Owotutu, 2018). Internal factors of a business environment consist of organisation culture, employee engagement policies, production strategy and others. On analysis of the current internal factors of this business, it has been noted that YCF prioritises stakeholders and member health and wellness. On the other hand, various effective staff engagement strategies are being opted by YCF such as training through skill network courses.
These strategies enable YCF to effectively manage its internal environment of this organisation. Better organisational culture is established through this strategy (Onyshchenko et al. 2020). Other than this, implementing this strategy also enables YCF to successfully operate its management activities through which effective decision making is possible. YCF this current strategic choice is optimum to boost stakeholder’s engagement. Prioritising health and wellness to stakeholders and members makes them more engaged in their business activities. This seems beneficial for the financial health of this trust to a greater extent.
External environment of business and organisation has a direct impact on its productivity and profitability. Economic factors, political factors, technological factors and social factors are being considered in this environment. Business management and its activities have to analyse these factors before making any decisions. Business sustainability depends on these factors. As stated by Kiseľákovái et al. (2019), political and legal factors such as tax rate, Government policies and regulations are the factors that have an impact on business organisational activities. CSR initiatives are also considered in social factors which have a positive impact on the brand value of a business. On analysis of YCF current strategy, it has been found that this trust is unable to mitigate racism issues in business which has a negative impact on its brand value. This issue creates constraints ineffective management of its activities and stakeholders’ engagement. On the other hand, it has also been noticed that YCF has less exposure for the foundation in digital media and the public which limits its expansion to a greater extent. Thus, in order to ensure future growth YCF needs to mitigate these issues.
2.2 Values
Value reflects guiding principles of an organisation whose primary objective is to define organisational goals and keep its stakeholders motivated to achieve these goals. Thus, it is necessary for a business to have a value that showcases business operation and strategy. On analysis of YCF value, it has been found that this trust is focused on four significant themes namely heritage, health well-being, education and participation. These principles guide management to analyse whether organisational activities are in the right way or not. Current strategy of YCF such as weekly reminiscences season has a positive impact on the health and wellness of members. Apart from this, various aspects of business are also properly maintained in this trust enables this company to operate in an effective manner.
2.3 Culture and Resources
Resources are an integral part of an organized operation. Economic use of resources is dependent on the organisational culture of a business. In this situation, it is quite necessary for YCF to opt for a strategy that boosts work culture and minimises the issue of organisation work environment. On analysis of YCF resources, it has been noticed that this trust works to preserve its heritage and keep its cricket legacy alive for future generations. In this situation, this trust possesses a range of useful educational resources like KS2 and three resources and also Yorkshire cricket club. Resources of this club also include YCF heritage, Yorkshire cricket museum and Yorkshire cricket Archive etc. This highlights that this trust has optimum resources for sustainable growth (Choudhary et al. 2019). However, effective utilisation of these resources is necessary too. In this situation, effective strategic preparation is necessary for YCF which ensures management eliminate waste and increase in quality of service. By this organisational objective of pulling youth towards cricket can be possible.
3. Organisational Approach to Strategy
3.1 Deliberate vs. Emergent
An organisational strategic approach is dependent on its objective. An organisational goal guides what kind of strategic choice is suitable for its growth and development. However, there are two kinds of strategic choices that are mostly used by an organisation named deliberate and emergent. Deliberate strategy is a kind of strategy that emerged from conscious, organised action and thoughtful action in business management and its leadership (Soliman et al. 2019). This kind of strategy is generally generated through an analysis of market growth Segment size, need of a customer, SWOT analysis of rival and technology trajectory.
Figure 1: Deliberate vs. Emergent
(Source: Soliman et al. 2019)
This kind of strategy is generally adopted by large organisations. Analysis of market segment and market scenario provides opportunities to these companies through which a better understanding of the business environment can be possible (Caiazza et al. 2020). Apart from this, this strategy provides a competitive advantage to the company through analysis of the strength and weaknesses of its competitors. However, small and medium-size organisations are unable to opt for this strategy due to its higher expense. On the other hand, Emergent strategy is the kind of strategy that arises from unplanned action and initiatives in an organisation. This strategy analyses investment decisions made by contributors such as managers, financial staff engineers and salespeople.
In a comparison of a deliberate strategy to emergent strategy, it has been noted that emergent strategy is more flexible than deliberate strategy. In the rule of thumb case, emergent strategy seems effective as the future of the environment is uncertain. On the other hand, during the early phase of life of a business emergent strategy is beneficial as in the early phase environmental impact is more effective in non-organisational activities. However, in the case of a business that established its position in the market, deliberate strategy is useful. Thus, both strategies have different benefits for the organisation according to its market position.
3.2E-V-R Congruence Model
An E-V-R congruence model is an effective tool for business management through which the establishment of the relationship of external factors to internal factors of the environment can be possible. Based on this framework, business management is able to make effective decisions that enhance its performance in the market (Tasik, 2019). Implications of this model in YCF enable its management to boost its position in the market and overall performance of various aspects of a business. Elements of this framework such as work, people, structure and culture enable effective management.
Based on the steps of this model YCF is able to establish relationships between all these factors that ensure to manage both internal and external environments effectively. As opined by Han, et al. (2020), YCF gives value to social initiatives for community welfare, it positively boosts work and the culture of a business. Besides this, maintaining its resources in an effective way boosts culture and heritage.
4.In-depth Analysis of Opportunities and Threats
Yorkshire County Cricket Club (YCCC) is a cricket foundation that organises different types of tournaments in England. There are also large numbers of cricket organisations already operating in the UK. Thus, the YCCC have some opportunity to expand their club’s branch and charity. As in the UK other cricket foundations also exist and YCC have some threats. This is necessary for organisations to consider stakeholder analysis that assists to develop better relations with stakeholders and explore organisations. On the other hand, industry competition analysis should be adopted by organisation management to develop a competitive advantage between other cricket foundations. As opined by Rai and Verlinde (2018), further the organisation may consider different factors of SWOT and PESTEL analysis. Both analyses support YCCC to identify those factors which may affect the organisation either negatively or positively.
4.1 Stakeholder Analysis
Stakeholder maps must exist if any organisation’s whole process is performed and affected stakeholders. There is main reason for developing an effective stakeholder is to consider each group of stakeholders before taking any type of decision. In order to analyse stakeholders, it is necessary for an organisation to consider the needs of “internal and external” stakeholders. There are mainly two types of stakeholders:
Internal stakeholders:
Internal stakeholder refers to those groups of people who are mainly related to the basic and development process. In this category employees and members of different categories are covered. As argued by Schlund and Schulte (2022), YCCC is a cricket foundation and have maintenance “employee and owner” of foundation are main internal stakeholders of business. Thus, it is necessary for the foundation to consist of the requirements of stakeholders that assist to motivate them to contribute their best for the organisation’s development.
External stakeholders:
YCCC’s performance mainly depends on the engagement of external stakeholders such as consumers who attend each match of the organisation. Further, there are also some other external stakeholder’s engagements should be observed of YCCC in order to improve the foundation’s performance. Government of the UK is also a significant part of the external stakeholder of the foundation. Every sports-related policy and contribution of the government affected the foundation process. As argued by Sulistiawan and Rudiawarni (2019), here main external stakeholder of business is Prioritise Health which operates through YCCC as a charity organisation. Thus, it is required to implement each rule and policy of sports in the UK to perform better in the future sports market. On the other hand, different types of suppliers of foundations also contribute massively to developing foundations. In this context, suppliers refer to suppliers of sports equipment as well as other assets which are required to maintain sports premises. Nevertheless, it is necessary for YCCC to give more value to external stakeholders as compared to internal stakeholders as total business development is dependent on external stakeholders such as cricket showers.
4.2. Industrial Competition
Competition exists in any business industry either manufacturing or service-based company. Nevertheless, it is required for organisations to identify different types of opportunities and weaknesses to mitigate competition disadvantage and improve competitive advantage in the market. YCCC is required to notify each factor of industry competition to develop a better comparative advantage in the sports industry.
Porter’s five force
Supplier’s power:
YCCC is required to consider the power of suppliers who maintained supply of each sports instrument as well as sports kits. As opined by Li et al. (2020), supplier of any organisation is the core external stakeholder which must be required for better performance in the market. On the other hand, YCCC may select a group of suppliers who supply required materials with minimum profit and make supply at any time.
Buyer power:
in this context, the main buyer of YCCC is a shower who come to see a match. Buyer of any organisation is affected by the business process through their engagement thus it is necessary for YCC to observe buyers’ interest and organise matches as per their interest.
Competitive rivalry:
a competitive rivalry is related to those foundations and sports organisations that already exist in the sports industry. YCCC must continually observe the steps of their core competitors. The core competitor of YCCC is LPL Hundred.
The threat of substitution:
substitution exists in any organisation either in the form of a product or service. YCCC have a substitution sports foundation in terms of “football or tennis” that is popular in England after cricket. Therefore, it is necessary for YCCC to improve interesting facts in their cricket organisation and attract more consumers.
Threat of new entry:
new entry is a threat for any organisation who are performing business practice in the market for a long period. As opined by Bruijl, (2019), the existing business organisation market may be affected by a new entry in sports markets. YCCC is also facing threats from new entries in the cricket industry.
4.3. SWOT Analysis
| Strengths | Weakness |
| ● Initiatives of foundation
● Attract and motivate the young generation ● Supports charities ● fundraising for event ● Training opportunities through skills network courses |
● Institutional racism
● Less use of digital media ● Foundation’s reputation |
| Opportunity | Threats |
| ● To build confidence
● Improvement in technology ● Charitable support |
● competition
● Institutional racism |
Table 1: SWOT analysis
(Source: Corry and Porter, 2019)
YCC have some strengths and weaknesses that must be noticed by the management of the foundation to develop scenario planning for the organisation and assist the organisation development process in the UK cricket foundation. As opined by Corry and Porter (2019), these actors play a massive role to affect business performance. YCCC management considered the below analysis to develop a strategy as well as scenario planning for improving operational performance in the sports market of the UK.
Strengths:
YCCC has some straight through the performance of the last few years. The foundation attracts young generations that are main participants of cricket sports as well as develop initiatives. Besides, YCCC has founded charitable institutions and promotes the foundation through it. On the other hand, YCCC has provided training to cricketers through “skill network courses” that assist them to perform well in any cricket tournament.
Weakness:
YCCC has significant factors such as Institutional racism that affect the organisation’s reputation at England cricket associations. Further, YCCC has failed to explore their business through the use of the latest digital; technology and social media. Both promotion models are effective and less expensive as compared with other promotion modes. This is the main weakness of YCCC and fails to explore business in different countries.
Opportunity:
Opportunity refers to those factors through which foundations explore their performance as well as business activity. On the other hand, YCCC is required to improve their accredited status which assists the foundation to improve their foundation from the main source for any foundation. As opined by Longhurst et al. (2020), further, YCCC may be improved technology that is used in foundation for performing different management related tasks. Finally, it is the main opportunity for organisations to consider charitable support to improve the grand value of the cricket association. These are significant opportunities for YCCC to explore their foundation in different locations in the UK.
Threats:
Any business organisation some threats and develop organisations to mitigate issues and challenges that arise by threats factors. In this context, the main threat for YCCC is the LPL Hundred that affected competition advantage as well as “cricket culture and heritage” from the past few years through their performance. As opined by Wang and Wang (2020), this foundation is also organising a cricket program in current years that is a threat for YCCC in current years. Institutional racism is also harming organisation operation performance as well as growth rate.
4.4. PESTLE (PEST) analysis
| Factors | Opportunity/Threats | Impact level | Timeframe | Impact |
| Political
Political factors refer to the government stability rate of the UK is 0.47 that indicates that it is politically better for YCCC. Besides, there are different business acts that exist in countries that assist businesses to expand. |
opportunity/Threats | High | 0-6 Months | YCCC has a stable political factor that is an opportunity for them to explore. As opined by Spaniol and Rowland (2018), whereas the government also supports sports, basically cricket, that is a better opportunity for YCCC to acquire support from the government. |
| Economical
The GDP rate of any country indicates economic status and that is 6.76% in 2020. Whereas the unemployment rate is 3.9%. On the other hand, the current year has improved by £0.1 million. |
Opportunity | High | 6-12 months | The GDP rate and FDI may assist YCCC to attract foreign investment that is needed for exploring business. Organisations may take some to implement scenario strategies to improve financial performance. |
| Social
Social factors include the population improvement rate as well as the social mobility rate of the country. That is 0.47% and 42% respectively. Besides. Countries’ per capita income is better as compared with other countries per capita income. |
Opportunity | Medium | 0-12 months | The social activities support YCCC to promote its foundation at the national level. Further social mobility rate is a supportable factor for YCCC Foundation and their charitable trust. |
| Technology
The UK is a developed country and focuses on using the latest technology as compared to traditional technology in the country. Besides, the UK government is also promoting the latest technology in the country to explore the business industry at global level. |
Opportunity | High | 0-6 months | The main weakness of YCCC is its failure to advertise its foundation at national level with the support of different types of social media as well as a digital brand promoting platform. Thus, YCCC is required to implement a digital platform to explore business as well as develop a competitive advantage at national level. |
| Legal
Legal factors refer to any country’s rules and regulations that must be implemented in the business industry. The UK has no rules for reducing business freedom and operations. |
Threats | High | 0-12 months | Whereas legal factors of the country seem to be supportive for YCCC different operations as there are different types of rules that exist to feel the freedom of organisations. |
| Environmental
Environment of the UK is a standard environment where the crime rate is low and human beings are wandering without any fear.
|
Opportunity | Medium | 0-3 months | Environmental status of the UK is a significant opportunity to attract the young generation towards their cricket matches and foundation. YCCC maybe improve their performance in two ways such as providing training to the young generation of cricket and second is organised matches at a different location. |
Table 2: PESTLE analysis
(Source: Valencia and Cardenas (2018),)
4.5. Scenario Planning
Scenario planning assists any business organisation to develop a better opportunity as well as management in the future business context. YCCC has faced different types of threats and issues to perform operations in the sports industry at national level. In this context, YCCC is required to understand the environmental situation of the country to develop scenario planning. As opined by Gechkova and Kaleeva (2021), organisations should consider the above two environmental analyses to consider the environment of the UK and implement the plan as “SWOT and PESTEL” analysis. Scenario planning is strategic forewords towards the future with the latest technology as well skilled leaders in management.
5. Strategic Options
On analysis of various aspects of business, it has been noticed that YCF has various strengths such as focusing on the health and wellbeing of stakeholders and opting for initiatives for pulling youth towards its cricket. However, this foundation seems effective in managing effective organisational culture. The importance of effective organisational culture is quite necessary for a business through which better engagement can be possible. As analysis of weakness shows that this truck has faced racism in organisational; culture it affects its organisational brand image to a greater extent (Rzepnikowska, 2019). Moreover, in European countries, the issue of racism is increasing has a negative impact on society and community. In this situation, this foundation needs to focus on the implementation of hard policies and regulations towards this through which the future of this foundation can be secure. Apart from this, as this foundation acts as a charitable trust it needs to focus on social and community development, various initiatives such as social campaigns need to be adopted through which positive impact on society can be possible. Moreover, various CSR initiatives are also needed by YCF through which an increase in stakeholder engagement can be possible. As stated by Roberts et al. (2018), Stakeholders are a key factor of business and organisation through an increase in financial position.
In this situation, YCF needs to adopt more stakeholder engagement policies such as involvement in the decision-making process. Opting for this kind of strategy is suitable for future growth of a business. On the other hand, as the future is uncertain and the company is not too old in the market, and Emergent strategy seems beneficial for this company (Bratianu and Bejinaru, 2021). Opting the strategy enhances its ability to make effective decisions according to the business environment. Adopting this strategy is also suitable for YCF future growth through which its organisation objective can be fulfilled. On the other hand, analysis of weakness also shows YCF has less exposure for a foundation in digital media. As in the past two decades, digital media has emerged as the leading factor through which a business is able to provide better services to its stakeholders. As opined by Winand et al. (2019), implication of digital media in the business environment enables businesses to enhance performance in the market. Social media tools such as Facebook, Instagram, and WhatsApp are the stage where a youth has been engaged through advertising its service in the media platform on a regular basis. It provides more opportunities for YCF to increase its performance in the market. As noted from organisational objectives it has been found that this trust has the primary aim to pull youth of society towards Cricket and prude health and wellbeing to a better platform. In this situation, digital media is an effective tool that assists YCF to connect the community with its services. The UK is technologically advanced and the number of social media users has increased. Thus, the implication of digital media tools in its activity.
6.Conclusion
It is concluded that YCCC is improving their cricket foundation through the heritage and charitable programs in the country. YCCC may be considered the “current strategic position “of the foundation through analysis of resources and the value of the organisation. On their hand “Deliberate vs. Emergent” and “E-V-R Congruence Model” has been discussed in order to improve organisational strategy. As external factors of the UK such as competitive advantage have affected operation practice of YCCC massively. At this point, it is necessary to consider both factor analysis to mitigate issues that may be faced by internal as well as external factors of the country. Finally, it is argued that YCCC must pay better value to stakeholders to explore organisation themes at national level.
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