Easy Group Study
ORGANISATIONAL STRATEGY
After conducting the environmental and internal analysis the 5 steps of strategy formulation are as follows.
Objective Setting
The important part of strategy formulation is communicating the vision of the organisation and embedding it into the minds of the employees so they can relate better to the customers. In this case it could be 'to be the biggest provider of innovative services in Europe, at rock bottom prices'.
Strategy Planning
This includes communication of the corporate vision, negotiation of strategic intent and designation of responsibilities for strategy development. This can be done by keeping in view the strengths and opportunities that easy group faces at the moment and converting them into reality. Responsibilities may be handed over to managers who are experts in the area, because the personal vision and aspirations also count in the process of strategy formulation.
Budgeting
Finance is the backbone of every business in every venture that easy group embarks on; the main emphasis is on cost reduction and offering low prices in return. For example, fully automated operations in its internet cafés mean fewer costs.
Monitoring, control and learning
This means monitoring the performance of each business unit and evaluating and assessing where more finance is needed to ensure better performance. Facilitation of organisational learning is of utmost importance, i.e. encouraging the flow of business information, new ideas from employees etc. This is possible within the easy group as its business units have a flat organisational structure.
Incentive and staffing
The operating system of the easy group is such that it requires employees to be self motivated which can be achieved through motivational exercises and incentives.
RESOURCE REQUIREMENTS
Resource allocation is vital to strategy implementation. It is done in order to create and sustain competencies needed to succeed.
" Resources may be allocated in particular towards core competencies and diversification of market segments and products.
" Fit vs stretch: meaning defining new ways of competing and stretching resources in new areas.
" Mergers and acquisitions ensure learning and give the company a competitive advantage.
- REFERENCES
- www.easyjet.co.uk
- Mintzberg H, Quinn J.B, Ghoshal S, (1998) The strategy Process. Revised European edition.PrenticeHall
- www.easyinternetcafe.co.uk
- www.ryanair.com
- www.easymoney.co.uk
- additional sources: www.easygroup.co.uk
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