Tip to Develop your Business
13 Pages 3279 Words 14372 Downloads
Introduction to Strategic development
Strategic development is the most important aspect associated with growth and development of business. It helps to integrate all limited resources and determine success of businesses operation. The present report is based on strategic development of Stratford which is district of the London Borough of Newham in East London. At this juncture, different aspects are studied related to roundabout model that what kind of issues are being faced by town related to movement of vehicles. Furthermore, PESLTE analysis has been conducted whereby focus can be laid on explanation of socioeconomic and environmental factors. In addition to this, strategic models are used along with recommendations for development of town in the marketplace.
1. Elements of roundabout theory
The town Stratford is currently known as centre of primary detail, leisure and culture which has also become the second most appropriate destination for business world in east of the London. Here, proper management of traffic is also the most important aspect under which people need to ensure that vehicle moves in an effectual manner (Stratford town centre improvements, 2017). It facilitates to reduce their speed and ensure proper management.
According to the above graph, there are different elements such as circulatory roadway width, exit width and entry radius. It would be effective for management to determine the project is completed in less time span. It enables corporation to cater need of related parties. However, exit radius and approach width as well as departure width are also determined in advance. It aids to ensure that project is completed in an effectual manner. Furthermore, Stratford town can be developed with the help of roundabout design process under which different aspects will be covered. These different elements are explained as follows. The first part is related to identification of roundabout as potential design option. At this juncture, people handling the task will manage different activities regarding movement of vehicles from one to another place. Here, critical round turn and fastest vehicle path through double-lane and single-lane are considered. It would be effective for managers to consider different aspects such as path of vehicle, its speed and design elements. At this juncture, speed curve relationship is determined so that accordingly it becomes easy to implement the plan in an effectual manner (Morandi and et.al ., 2014).
On the other hand, second step is about evaluating appropriateness which refers to assess effectiveness of all selected options. It is generally considered under the planning phase which is followed by operations where three preliminary stages must be completed such as optimal roundabout size and optimal position a well as optimal alignment along arrangement of approach legs. These stages are completed for development of town and it also ensured that project is completed in relatively less time span. However, initial layout is created for the purpose of ensuring certainty of future business activities. Under this, it is noticed that no further changes take place in future through which it becomes easy to implement the selected plan in less time span. In addition to this, safety parameters are set by business and management for checking the well being of entire town in term of growth and development (Seddon, 2008). Though, cost aspect is ignored to a certain extent through which it becomes easy to ensure better quality of infrastructure for industrialization. However, the town already has appropriate infrastructure for meeting the expectations of different kind of businesses operating in the same. It aids to ensure higher rate of return of the same as they can move their vehicles without facing too much problem related to traffic.
Moreover, safety parameters leads to bring necessary adjustas and detail performance analysis is done after the same. It proves to be effective for reviewing the safety geometric plan along with necessary audit procedures etc. It enables corporation to accomplish the project on right time span. This in turn it becomes easy to accomplish long as well as short term objectives in the marketplace. It can be critically evaluated that, London is considered as the most lucrative place of tourist and population of the same is already higher. Owing to this, it can be perceived that number of people with moving vehicles are greater so accordingly some issues are faced at the time of infrastructure development (Wei, 2011).
Moreover, it is also important for management to shed light upon issues which are being face in context of safety and appropriate vehicular speed. Owing to this, focus is laid on principles of roundabout so that accordingly speed profit and design as well as other related aspects can be considered in an effectual manner. However, natural path are also considered for the purpose of taking the right place to move vehicle. This is generally done in the absence of other conflicting vehicle. This facilitates to promote industrialization regarding tourism, retail and other related aspects. However, more shops can be opened along with tour operators to grab the opportunities provided by capital of UK (Negus, 2011) . It contributes towards delivering good quality of services to large number of parties and support them to access appropriate pathway for moving vehicle to acquire raw material and delivery products and services among end users. Hence, roundabout model can be applied to provide better pathway by taking into account different curves related to entry and exit. This enables corporations to ensure their long run growth with increased rate of return in the marketplace.
Though, roundabout framework is useful to developing entire town effective by taking into account following three critical types of locations;
- Approach slight distance
- Sight distance trough circulatory roadway
- sight distance to crosswalk through exit
These above mentioned critical locations are considered at most for the purpose stopping sight distance. It aids to reduce the uncertainties and determine the safety of people move from general path. In this manner, different strategies are applied to develop the pathway effectively so that accordingly overall risk can be minimized. This proves to be effective to ensure optimum utilization of limited resources in a most effective manner. Apart from this, roundabout entries must be backed by appropriate intersection sight distance. This make it helpful to construct the path effectively support businesses to move the goods from one to another place.
2 Elements of Pestle and need for town centre
London is regarded as the complex network of town centres. Under this five broader kinds have been determined. This is comprised of international centres, metropolitan centres, major centres, district centres as well as local and Neighborhood centres. It has been determined that there is presence of 35 major centres (Bayo and Mirón, 2006). This is comprised of Stratford as well as East ham in Newham. Such centres are characteristically essential for the purpose of shopping and service centres in Borough-wide catchment. The attractiveness of such can be derived from the mix of both comparison as well as convenience shopping. The two elements under pestle includes socio economic as well as environment. These are discussed in the manner below:
Socio-economic: There is greater need towards increasing the attractiveness of the town centre as well as managing their restructuring where necessary such is comprised of the comprehensive development of the Stratford as a new commercial, retail as well as residential area of London, making the most of its European links as well as its pivotal role connecting the areas of growth. London one having stronger economic position in comparison with other nations. It has higher GDP, diverse economy but also possess few issues. It has been assessed that the major major factor is the larger population that is allowing for even small markets to be profitable. There is presence of diversified economy that is having both larger public as well as private sectors. Along with this another major socio-economic factors involves free market. This has increased the trade with the market in an effective manner. Increase in the foreign direct investment is considered as another major factor that assist in enhancing the growth of the economy to a greater extent. This has lead to attainment of the growth target of the nation to a significant level. The major issues under this is related with slower recovery from the recession which is affecting the economic development. Along with this by the means of such the population in the nation has not enhanced its standard of living that is creating major issue. Another major issue is that greater amount of money has been spent on offering free public services as well as financial aid, even for the migrants (Jhunjhunwala, 2009).
Environment: The policies of environment within the particular town centre is based on the principles that are related with command as well as control that might offer polluters a certain fixed or standard. The government plays an essential role in developing European environmental standards with all the EU policy making (D’Anna and Cascini, 2011). The strategy of sustainable development strategy offers management structure to ecological, economic as well as social development of EU and to assist in new environmental directives that are being integrated into the other policy areas. There is presence of four major aspects that relates with the climate change as the foundation for sustainable development that is comprised of nature as well as biodiversity, natural resources and waste, health as well as quality of life.
From the analysis that is being carried out in detain it has been assessed that Stratford town centre highlights greater number of strengths as well as weaknesses and clear opportunities and threats that are being increasing for the future development (Bermingham and Brewer, 2013). The town centre is having good demonstration of low to mid market comparison good retailers across the Stratford shopping centre. However it is significant that major purpose for which the city is visited relates with food shopping. Thus the role of environmental prevention is significant. This has been gained that overall comparison as well as role of convenience in the town centre is sufficient though the number of mix units does not make comparison in favourable manner with the national average (Brinson and Dove, 2010). This has been assessed that the number of service is higher than the national average which eventually undermine the retail function of the centre. The major issue that is moving forward is related with the importance of the linkages as well as integration among Stratford city as well as existing town centre. As such has important role in attaining the growth in the economy to a greater extent.
There is presence of other factors of pestle analysis as well. Such is comprised of political, social, technological as well as legal. Such have been enumerated in the manner stated as under:
Political factors demonstrates that London is fair as well as stable country that has plenty of opportunities in and the country as whole. The major positive factor include under this relatively fair with the public and have large influence on the inner workings. Further it has been assessed that there is proactive government (Bond, 2014). The town centre is politically stable. However it has been determined that there is presence of some well hidden corruption. In addition to this Social factors reflects the positive factors such as several free public services. Further it has been assessed that open to migration leads to cosmopolitan environment with around 1 in each 8 residents born abroad. This has lead to large and cheap workforce. There is presence of higher standard of living. However the negative factors involves that there is higher as well as increasing dependency ratio. There is presence of some social unrest in relation to migration as well as ethnic group. Along with this the issues relates with the increase in the education costs. Technological development demonstrates that town centre that is Stratford is having sound access to technology (Furham, 2012). The positive of such is that there is quality innovation skills. Along with this there is presence of effective laws in relation to intellectual property. There is presence of plenty of internal competition for the purpose of stimulating the aspect related with growth. There is slower technological development in comparison with other developed nation. The legal factors demonstrates the laws that have been developed specifically for the particular nation. Under this it is demonstrates that laws are complied with in order to attain the enhance the peace within the nation that can enhance its development.
3. Strategies & recommendation
Blue ocean strategy
The blue ocean strategy can be considered as the most effective for determine sustainable growth in the marketplace. It facilitates to utilize limited resources in a most effective manner. It assists management to determine higher rate of return by adopting the most system approach for making the competition irrelevant. At this juncture, 8 key points can be considered for implementation of the proposed strategy where the first element is about grounded data. It shows that data from different companies can be clubbed together for producing valid outcome for development of growth of the nation or town. However, second element is showing that low cost and differentiation must be brought for the purpose of ensuring betterment of entire town. Apart from this, uncontested market space is created by corporations operating in the marketplace with increased rate of return (What is blue ocean strategy, 2017).
Furthermore, tools and framework are created by the businesses or managers so that can effective create the uncontested marketplace for offering varied product and services. It facilitates to break the competition and accordingly sustainable growth can be ensured in the marketplace. Apart from this, step-by-step process is followed by business so that growht of village can be ensured in the marketplace. It enables companies to make customers understand regarding the specific features of product or services. At the same time, focus is laid on maximization of opportunities while minimizing the overall risk associated with project. Similarly, strategies are executed effectively by taking into account visual aspect and clear communication as well as collective wisdom of businesses. This tends to ensure long run survival of company with higher rate of return.
In addition to win-win outcome are created wherein value profit and people are considered. This facilitates to ensure well begin of general community and other related parties of business. It aids to deliver good quality of services to all associated buyers and ensure to meet their expectation level to a great extent.
Get Help in Any Subject
Our intention is to help numerous students worldwide through effective and accurate work.
Central place theory
The theories that can be executed for the purpose of offering recommendation presents central place theory. The assumption of this theory is that human would always make purchase of the commodities from the place that is near for them. This is being assessed that there is evenly distributed population. Further all the settlements are equidistant as well as exist in the triangular lattice pattern (Gharajedaghi, 2011). This would assist in establishment of the linkages among the Stratford town centre and other. There needs to be evenly distribution of the resources so that recovery from the recession can be done in an effective manner and within the minimal time span.
public choice theory
Another theory is relating with the public choice theory that reflects that urban politicians as well as governing regimes are subordinates to the overall economic principles. The competitiveness nature of cities offers encouragement to the business elite as well as politicians to favor the new development in an effective manner (Isaksson, Hallencreutz and Garvare, 2008). This theory is appropriate in terms that it assist in overall growth and development of the town centre in an effective manner. With this better protection can be made towards the environment as well (McCusker, 2014).
According to the above mentioned report, it can be suggested to management and entire team to follow the roundabout model for resolving all issues associated with infrastructure development and other related aspects. It enables east London and entire Stratford town to focus upon specific need of local people and provide them all basic facilities along with promotion of industrialization (Marx, 2010). However, blue ocean strategies should be adopted by management of respective work so that accordingly competitive edge can be created for businesses operating in the town. Though, small businesses or several shops are opened in the town so that basic requirement of people can be accomplished. However, some firms are facing competition in term of rate of return and variety of products and services. For this purpose, blue ocean strategy can be applied which might incur cost at initial stage but helpful to increase higher rate of return for different firms.
Furthermore, roundabout model should be applied for growth and development of town whereby focus is laid on infrastructure development. It aids to cater need of all people living in the town and accessing good quality of services which are being offered by the business.
Another fact related to socio-economic is found that recovery from recession is very slow which can affect living standard of people. Owing to this, appropriate strategy can be applied for better research and development activities. It would be effective to anticipate the changes and accordingly ensure development of town (Marmot and Bell, 2012). Apart from this, free public services should be offered only to needed people. It is because rich people might take advantage of the same. Owing to this, such kind of services can be provided after doing proper research and categorizing people. In addition to this, Stratford city should provide subsidy and cost effective source of finance for local entrepreneur so they can contribute towards improving living standard of people by creating more job.
It can be concluded from the present report that the two elements of Pestle that is socio-economic as well as environment are important in assessing the condition of the town centre. With this issues that are arising can also be assessed. It has been inferred that major issues is related with slower recovery from the recession which is affecting the economic development. Along with this by the means of such the population in the nation has not enhanced its standard of living that is creating major issue. Another major issue is that greater amount of money has been spent on offering free public services as well as financial aid, even for the migrants.
- Bayo, M.A.A. and Mirón, I., 2006. A flexible framework for regional sustainable development indicators using system thinking criteria (INSURE).Revista Internacional de sostenibilidad, tecnología y humanismo. (1). pp.41-59.
- Bermingham, A. and Brewer, J., 2013. Consumption Of Culture. Routledge.
- Bond, P., 2014. Elite transition: From apartheid to neoliberalism in South Africa.
- Brinson, C. and Dove, R., 2010. Politics by Other Means: The Free German League of Culture in London 1939-1946. Vallentine Mitchell.
- D’Anna, W. and Cascini, G., 2011. Supporting sustainable innovation through TRIZ system thinking. Procedia Engineering. 9. pp.145-156.
- Furham, A., 2012. Culture shock. Journal of Psychology and Education. 7(1). pp.9-22.
- Gharajedaghi, J., 2011. Systems thinking: Managing chaos and complexity: A platform for designing business architecture. Elsevier.
- Isaksson, R., Hallencreutz, J. and Garvare, R., 2008. Process Management and System-Thinking for Sustainable Development. The Theories and Practises of Organization Excellence: New Perspectives. pp.205-232.