“What is Strategy?” according to Slack & Lewis (2008, p.5) is a question that “is not easy to answer what seems like a straightforward question”. However, it has to do with setting of goal and planning the path to achieve the goals. According to Johnson, Scholes & Whittington (2008, p.3) "Strategy is the direction and scope of an organization over the long-term”. It exists at different stages or levels in any organization; the corporate, business and the operational (Riley, 2012).
Business strategy of Wm. Morrison
One of the key factors that define Morrison’s business strategy is its regional business focus approach and its success is quite not unrelated to this. The company was predominantly a UK northern company where it enjoys the dominance of the market through its superstores.
Marketing Strategy Wm. Morrison
The marketing strategy of the company is wound round three factors which are; its pricing policy, the freshness of its products and the availability of products. According to Williamson et al (2004, p.165) “customers thought that Morrison pricing was extremely competitive and that pricing was an important factor in determining where they shop”. This stand of Morrisson’s
References: Chopra, S. & Meindl, P. (2010) ‘Supply chain management: Strategy, planning, and operation’ 4th ed. Englewood Cliffs, NJ: Prentice-Hall. Slack, N. & Lewis, M. (2008) Operations strategy. 2nd ed. Harlow: Financial Times and Prentice-Hall. Johnson, G., Scholes, K., and Whittington, R. (2008) Exploring Corporate Strategy, Text and Cases, 8th ed. Prentice Hall 2008 Morrison (2013) “Strategy and Structure: Different and Better than Ever”[Online]. Available from: http://www.morrisons-corporate.com/About-us/Strategy-structure/ (Accessed: 13 May, 2013) Williamson, D., Cooke, P., Jenkins, W. & Moreton, K. M. (2004) Strategic management and business analysis. Amsterdam: Butterworth-Heinemann.