Mclays Strategy Analysis

In addition, diversification strategy is suggested for the Mclays. In the past, Mclays adopted the horizontal diversification by acquiring companies like Qualitex Printing Limited and conglomerate diversification by developing the products related to the existing products in the recent past. This is because, both strategies are cost effective and profitable options. This is the important prerequisite in the print and digital communications market today as per the environmental audit. Therefore, these strategies are suggested to Mclays in the current market scenario. Similarly, when the entirely new product is developed, it is very costly matter. This is because the completely new area of expertise needed to be studied and employees needed
In an organizations there can be team roles and individual roles towards implementing the strategy. Role of executives include development and implementation of the strategy, whereas the role of the directors include providing required input, reviewing the strategy, approving the strategy and providing a vision for implementation (Davila, et al., 2012). Therefore though the responsibility of actual implementation process carried out properly lies with the executives, directors are responsible for the overall strategy implementation. For this company, it is suggested to apply the limited market strategies like market penetration, new product development and market development. In addition to that, in this organization conglomerate diversification strategy is suggested too. To implement these strategies individual roles and team roles needed to be carried out effectively. According to the role theory by Katz and Kahn, the roles are the result of expectation from other people, however, roles and responsibilities conflict arises when roles are ambiguous, role overload, conflicting role pressures and conflict between two roles (Hitt, et al., 2017). Therefore, one needs to be clear about the roles and scrupulous designing of roles needed to be done for successful
Resource requirement. To implement mentioned market penetration strategy, new product development strategy and new market development strategy the human resources needed to be innovative. In addition to this, technical training must be provided to the employees from time to time to upgrade and revise the knowledge. To invent the range of innovative products, the materials and prerequisites must be provided to the employees. In addition to that, the aggressive marketing and advertisement plan needed to be carried out to reach out to the customers. The finances required for all this needed to be calculated, planned and made available to implement these strategies with time. In addition to this, to implement the diversification strategy, the study and analysis of the sector to be developed must be done, which would require human resource, finance, time and