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MNGT3012 Strategic Business Management

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MNGT3012 Strategic Business Management

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MNGT3012 Strategic Business Management

0 Download6 Pages / 1,464 Words

Course Code: MNGT3012
University: The University Of Newcastle

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Country: Australia

Question:

Task
In this assignment, you are required to write mini-report, including a brief executive summary.
Your Report should cover the following:
1. Identify and evaluate the suitability of the organisation’s current CORPORATE level strategies. You are required to use the same organisation you analysed in assignment 1.
(a) Identify and discuss the corporate level strategies that the organisation is implementing/has implemented
(b) Evaluate the suitability of the organisation’s current strategies. Recommend no more than two alternative strategic initiatives that the organisation should pursueto improveits effectivenessand justify your recommendations.

Answer:
Introduction
Strategic choice of firm is connected with the business development that is helpful to provide best experience after a certain time. This study has focused to achieve a complete understanding based on the business strategy of Burger King in Australia. It is helpful to analyse definite facts that are connected to deliver a complete understanding of the business strategy. Being the biggest fast food chain, it is expected to have an efficient business controlling opportunity in the market. Moreover, the recommendation has done to give better examples based on the present status of business in this country.
1. Current corporate level strategies
a) Implemented strategy in the venture
In this section a complete turn back can be discussed on the favor of this venture as the company has accessed a new management system. In the previous years the brand has accessed a complete global platform that is well known and recognizable as a leading brand in Australia.
The business model of Burger King is effective enough to gain advantage in Australian market rather than other business fast food chain. Almost 90% of Burger King Outlets are franchised and these are higher in percentage rather than the competitors (bk.com, 2018).  As in comparison with Hungry Jack, it has faced a huge loss at the time of entry in entering in the Australian market. On the other hand, Burger King has managed to enter in this country with small restaurants that delivers an accurate business result in terms of the expenditure and business development.
Establishment of international business is the biggest enlargement strategy of this firm. Outside the headquarter country of this venture, there are almost 3800 company owned restaurants in the outside of this country (bk.com, 2018). As suggested by Buckley, Burton & Mirza (2016), in the viewpoint of theoretical perspectives this company has accessed a positive opportunity. As in the segmentation of BCG matrix, the best position is to stay in market as a Cash cow or a star. As it has conducted a long term business the position of the company is the cash cow that is long term sustainability approach. On the other hand, the approach organisation growth is completely based on the business management system. Burger king had faced previous issues due to the type and quality of food material that was highly criticized in several countries. The recent status of development has not only removed the previous scandals related with the name of this venture but also manages to add a greater value in this business. In the viewpoint of Eaton & Kilby (2015), these are the inspirations of leadership that manages to commence innovative growth. The process of leadership is democratic rather than autonomy in this venture. Thus, employees in this firm can use their skills and development initiatives to define the product values and deliver effective product diversity for meeting the demands of customers. Crisis controlling is also helpful to manage the issues that firm faces in different countries.
b) Sustainability of current strategy
The current strategy of Burger King can be better explained with the McKinsey’s 7s framework. As opined by Evans et al. (2017), the structure of 7s has a complete vision on the business value along with the strategic vision of the company. The purpose of the business strategy is helpful to manage the competitive advantage in this firm. For example, the low price and quality product along with initiative to meet customer needs. In comparison with the other fast food chains this venture is always focused to access and maintain the quality product accordingly. The system of management is a unique one that can be rarely seen in any of the corporate ventures. As for example, it provides rewards to the outlets that access large percentage of positive feedbacks in according to the customer satisfaction. As suggested by Klettner, Clarke & Boersma (2014), application of soft elements are indirectly applicable on firm and acts for greater transformation of the ventures. Capability to meet the 70% customer satisfaction is a distinctive quality that has been managing by this firm for several years. They have a different strategic choice for different group of people. According to recent report it was extracted that the venture is trying to gift their customers a feeling of nostalgia at the restaurants when they enter to access their services. Technological upbringing is enough advanced in order to supply the foods, keep track of the entire selling in one day. As customers are getting accustomed about their business process including quality, staffs, style; they are becoming more confident to maintain the loyalty for long term.   
Recommendation and Justification
The above strategy is undoubtedly effective to manage the business of Burger King whereas Herzberg’s Hygiene factors can be applied in the terms of business in order to add extra value in its process. This company has highly focused on the customers approaches in order to meet the needs and satisfy them. According to Leonidou, Fotiadis, Christodoulides,  Spyropoulou, & Katsikeas., (2015) it is not only about the customers but also about the employees. They are the key success factors in business house who provide effort to meet organizational objectives. According to this theory company policy, recognition, growth, advancement, responsibility of employees should be appropriate that they can feel satisfied in working with the venture. A hostile work environment and fair approach to every employee can help to access such factors. On the other hand as suggested by Schaltegger, Hansen & Lüdeke-Freund (2016), Porter’s Diamond model can be used by this venture in order to access a powerful strategic approach on the behalf of the company. The most important factor in this model is the strategy, structure and competitors that are highly effective to determine working morale. As for example, in Australia this venture have a different company structure rather than the venture in the US. Though, Burger King conducts business in different countries yet it has followed a general rule to apply in every market. In the viewpoint of Klettner, Clarke & Boersma (2014), application of this strategy is effective in this sense as; company can evaluate the economic scale, size of home market, transport cost before determining the product value. Thus, these two strategies are helpful enough to look and consider the employees segment as well as product value in different countries.
Conclusion
It can be concluded from the above part that the business of Burger King requires has an excellent business strategy. The reason behind its success factors completely depends on a proper execution and applying in company initiatives. Initially, the theory based evaluation extracted that the company has accessed an effective business position in terms of its business requirements in the different countries. Further the evaluation has suggested that it has created a unique and different style of marketing that assist to access a competitive advantage rather than other ventures. In recommending two different models it has opined that the business firm required managing employee satisfaction as they are the key success factors in a company. Additionally, product value must be set in according to the economic scale of a country.
Reference list:
Buckley, P. J., Burton, F., & Mirza, H. (Eds.). (2016). The strategy and organization of international business. London: Springer. Retrieved from: https://books.google.co.in/books?hl=en&lr=&id=2Ti_DAAAQBAJ&oi=fnd&pg=PR7&dq=business+strategy&ots=WU-RZCoVlw&sig=UC3ZyYn9rrsQ4DKME1CzisZZi58
Eaton, D., & Kilby, G. (2015). Does Your Organizational Culture Support Your Business Strategy?. The Journal for Quality and Participation, 37(4), 4-10. Retrieved from: https://search.proquest.com/openview/76e6dccfa0d064c3b663ed52f0ab6119/1?pq-origsite=gscholar&cbl=37083
Evans, S., Vladimirova, D., Holgado, M., Van Fossen, K., Yang, M., Silva, E. A., & Barlow, C. Y. (2017). Business model innovation for sustainability: Towards a unified perspective for creation of sustainable business models. Business Strategy and the Environment, 26(5), 597-608. Retrieved from: https://onlinelibrary.wiley.com/doi/pdf/10.1002/bse.1939
Klettner, A., Clarke, T., & Boersma, M. (2014). The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy. Journal of Business Ethics, 122(1), 145-165. Retrieved from: https://opus.lib.uts.edu.au/bitstream/10453/33598/4/The%20Governance%20of%20Corporate%20Sustainability%20Empirical%20Insights%20into%20the%20Development%20Leadership%20and%20implementation%20of%20Responsible%20Business%20Strategy.pdf
Leonidou, L. C., Fotiadis, T. A., Christodoulides, P., Spyropoulou, S., & Katsikeas, C. S. (2015). Environmentally friendly export business strategy: Its determinants and effects on competitive advantage and performance. International Business Review, 24(5), 798-811. Retrieved from: https://paperdownload.me/wp-content/uploads/2017/11/4484-environmentally-friendly-export-business-strategy-determinants-effects-competitive-advantage-performance.pdf
Schaltegger, S., Hansen, E.G. & Lüdeke-Freund, F., (2016). Business models for sustainability: Origins, present research, and future avenues. [Online]. Retrieved from: https://journals.sagepub.com/doi/full/10.1177/1086026615599806
bk.com (2018). Bk.Com Retrieved from: https://www.bk.com/

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