Report: Strategic Evaluation

A STRATEGIC EVALUATION REPORT ON SAINSBURY ACQUISITION WITH

ARGOS

By

[Student Name]

[Subject Name]

[University Name]

[Professor Name]

[Date]
 Report: Strategic Evaluation

EXECUTIVE SUMMARY

The objective of this report is to address the strategic management process and its relationship

with the retail sector. J Sainsbury PLC, the third biggest supermarket chain in the United

Kingdom, has been chosen to promote this report.

Three main parts are included in Strategic Management, firstly, Strategy Analysis, then

Strategy Formulation, and finally Strategy Implementation. There are different kinds of

strategy analytical instruments to be used to detect the strength, weakness, opportunity and

threats of an organization in strategic management since all organizations face glory and

trouble.

In the retail sector in general, Strategy management is the prevalent plan to explore issues or

possibilities for long-term crisis resolution and high-performance (Accenture.com, 2009).

Strategy management is the most popular approach.

Few chosen tools such as Porter’s PESTLE Analysis, Five forces, Value Chain Analysis, VRIO

Analysis, and Strategy Process were further explained and supported in this report.
 Report: Strategic Evaluation

A. COMPANY INTRODUCTION

Sainsbury PLC is a UK leading retailer of food with financial services interests. It is

comprised of Supermarkets Sainsbury's, Local Sainsbury's, Stores Bells, Jacksons, Beaumont

JB, Online Sainsbury, and Bank Sainsbury. A Porters 5 forces analysis further in this report

discusses the choice to be diversified into convenience stores.

Its strategy is to work reasonably with all of our providers to recognize the shared

advantages of customer satisfaction. It is a notion which is taken into account in the five-

piece assessment of Porter. They also strive to meet obligations towards the groups and

contexts in which they work (Sainsbury's, 2008).

A.1. COMPANY’S STRATEGY

Sainsbury's goal is to offer "excellent service to clients and thus offer excellent and

sustained economic returns to shareholders. They seek to make sure everyone has the chance

to develop their skills and are rewarded for their contribution to the business's achievement”.

A.2. RETAIL INDUSTRY OF UK:

In the UK, the retail industry is concerned with some of the recent significant

statistics from the British Retail Consortium (2010):

1. UK retail sales totalled more than £285 billion in 2009.

2. At the end of December 2009, the retail sector employed more than 2.9 million people.

This corresponds to 11% of UK employees.

3. Retailers are 9 percent of all VAT companies in Britain, with a total of 192,600 presently.

4. 293,510 retail outlets were located in Britain in 2008.

5. 8% of the UK gross domestic product is produced by the retail industry

Source: British Retail Consortium (2010)

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QUESTION-1: EXTERNAL ANALYSIS

The five forces analyses of Sainsbury are taken on board in this section of the report.

We will also address the goal in which the five Sainsbury armies function, a subject which is

discussed in a PESTEL assessment, of fulfilling duties in the groups and contexts.

1.1. EXTERNAL OPPORTUNITIES & THREATS (O&T)

EXTERNAL OPPORTUNITIES (O) EXTERNAL THREATS (T)

1. Global market expansion via online 1. Impact of Brexit on prices

collaborations 2. Intense competition in grocery and retail

2. Diversification and growth of segment

Sainsbury's bank 3. Loss of experienced workers apart from

3. Online groceries and convenience stores workers in leadership positions.

-channels of future growth

Technology analytics to help in customer

insights

1.2. PESTEL ANALYSIS

Most of the factors that could affect a certain company likely exist. These factors

includes as explained in the following diagram:

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1.2.1. POLITICAL FACTORS

1. Increasing globalization offers Sainsbury both a challenge and an opportunity. The

challenge will be to compete with unknown forces and provide the world's best quality /

financially viable products. Through joint ventures or partnerships, St. Sainsbury can

explore these fresh markets on the markets of emerging companies, although there are no

plans to do this.

2. The continuing pricing research of the four large distributors in the UK may have an

adverse effect on business as a whole as Sainsbury is at the forefront of this claim. While

Sainsbury is very well known among customers, such claims can lead to an adverse

government picture, since the customers may feel cheated.

3. In the United Kingdom, the government is set to reduce the corporate tax rate from 30%

to 28%, thereby saving large businesses, such as important funds from Sainsbury.

1.2.2. ECONOMIC FACTORS

1. The fast-growing global food crisis has boosted worldwide food prices and will lead to

higher cost purchases for Sainsbury. This would affect the organization's margins and
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could lead to an increase in prices for most products in the supermarket overriding the

costs for customers. In addition, the increased cost of petrol will have consequences

throughout Sainsbury's supply chain, resulting in a general price scenario.

2. Credit crunch may affect Sainsbury twofold as it also works as a financial service

business with HBOS. The credit crunch can decrease the buying power of consumers and

can still be more cautious, even though they buy something vital. You can also spend less

on luxury products, which Sainsbury has a higher profit margin. The credit crunch in

Sainsbury impacts its capacity, particularly as it is not established in the financial services

industry, to provide loans.

3. Strong rivalry across all retail segments has led distributors to offer customers many

incentives. This will affect Sainsbury, because prices must most of the time be reduced.

1.2.3. SOCIAL FACTORS

1. Nowadays, fresh and easy cooking appears to be more emphasized. This provides

Sainsbury with the opportunity to foster new foods and food.

2. Government support for healthy eating has been highly emphasized, mainly because of

the growing obesity in the UK. Many customers have therefore shifted to healthier foods.

This offers Sainsbury the chance to stockpile healthier and safer products than other

companies to take advantage of that fresh trend.

1.2.4. TECHNOLOGICAL

1. In Western countries, the Internet phenomenon appears to be increasing. It is anticipated

that the internet retail market will reach Eur263bn in 2011, with more than one-third of all

revenues from UK shoppers. 8% of worldwide marketing is spent on the Internet and

grows quickly. When cleverly used, Sainsbury can benefit from the internet. Competitors

such as Tesco effectively use their own model for internet delivery. However,
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professional supply businesses such as Ocado (work with Waitrose in collaboration)

provide an option to non-core job outsourcing.

2. The queuing system clients are often at the checkout, is one of the downsides to

supermarket shopping. Asda and Tesco use automatic check-out machines, particularly

for clients who have only to queue for very few things can assist to fix this issue. In

addition, in the opening magazines of Sainsbury, self-checkout machines could assist for

24 hours, thereby increasing revenues.

3. Although not yet popular, RFID technology can be used for significant benefits for the

Sainsbury supply chain. When this technology is used the supermarket companies will

have a smaller, more lucrative organization. If it is adopted, it will result in fewer

inventories.

1.2.5. ENVIRONMENTAL FACTORS

1. The role of large businesses to reduce the carbon footprint and increase energy efficiency

has been highly stressed by Western businesses (Bream 2008). The problem is no longer

backburner, and each company will have to show that it reduces its environmental effect,

which means that Sainsbury will need to invest more in green problems.

2. Sainsbury has obvious implications for other significant ethic problems, such as the sale

of organic food and the ethical treatment of livestock. These problems are becoming ever

more important and must be addressed to both those customers and the price-specific

customers. This is a delicate problem because they will have to balance the public's

environmental views without losing customers because prices are rising.

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1.2.6. LEGAL FACTORS

1. Sainsbury's will have to follow increasingly rigorous regulations on food and drink in

order to cope with packaging and labelling, an economic burden for the business that will

add to it.

2. Due to its interest in the financial services sector, the activities of the Sainsbury bank

continue to be subject to increasing legal scrutiny, which implies that there is more legal

conformity and other risk measures.

CONCLUSION FOR PESTEL

After analysing PESTLE on Sainsbury, it can be concluded that the firm is influenced

significantly by the outside setting, because the two primary variables are elevated inflation

and increasing unemployment. The efficiency of the company's initiatives against these

variables is, however, extremely valued to ensure its sustained development.

1.3. PORTER’S 5 FORCES ANALYSIS

The five analytical forces of Michael Porter are called sector evaluation factors. These

are the forces in the following diagram:

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1.3.1. COMPETITIVE RIVALRY

1. With a very crowded market, the retail industry is highly competitive. More and more

businesses are now attempting to further strengthen competition in the non-food

industries.

2. Sainsbury's market share in 2007 was 14.9%, and has been steadily growing since its

reorganization program began in 2004. This is a favourable trend but it is well behind the

disintegrating industry leader Tesco and shows that a lot is to be covered.

3. The other 3 large supermarket chains in the UK's retail industry are Tesco, Asda and

Morrison. They all have a competitive advantage over their rivals. The reach of Sainsbury

in comfort shops makes it more accessible to customers.

4. Banks and construction companies compete with Sainsbury Bank, but Sainsbury does not

have a key company.

1.3.2. BARRIERS FOR ENTRY

1. There are a number of variables that make access barriers exceptionally high on the food

retail industry. Firstly, organized retail is among the most advanced industries in the

United Kingdom and requires important investment, together with important brand

growth. Secondly, in Britain and most of the Western globe, retail is also developed, so

there is little scope for fresh entrants to set up.

2. In the food retail industry, local expertise is highly important, which foreign companies

find hard to reproduce. The existence of a few worldwide stores in the United Kingdom

confirms this.

1.3.3. THREATS OF SUBSTITUTES

1. In food retail sector, the risk of replacements is narrow merely because customers see it as

essential, particularly in the developing world and in emerging markets progressively.

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2. In order to make shopping an incredibly enjoyable experience, the retail industry is

always attempting to converge and assimilate fresh developments in food or alternative

companies. This makes it very hard to replace them.

3. The only significant risk of a replacement is an inner threat to the sector, which allows

one supermarket to run other supermarkets company.

1.3.4. BUYER POWER

1. The purchasing power in this sector is high merely because so many of the rivals sell the

same products. In addition, the cost of switching to customers is small.

2. With a further recession in the economy, the demands of customers are likely to increase

significantly and to increase significantly.

1.3.5. SUPPLIER POWER

1. The strength of the supplier is generally more complex because categorization is hard.

The connection is secure to call it a reciprocal relationship, because providers in

themselves are large firms with enormous brand attraction, such as P&G, Unilever,

Cadbury and others. However, if large companies ' goods do not reach supermarkets, their

volumes of sales will be greatly impacted.

2. Because of its sales volumes of these supermarkets, the supplier strength of smaller

suppliers will not be considerable.

1.4. CONCLUSION FOR PORTER’S 5 FORCES

By evaluating all of Sainsbury's five competitive forces, strategists can achieve an

overview of how the company's profitability in the retail sector affects. They can recognize

changing trends soon and can react quickly to take advantage of the emerging chance.

Sainsbury PLC’s executives can shape these forces in their favour through a detailed

knowledge of the Porter Five Forces.

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1.5. SAINSBURY’S TOWS ANALYSIS

THREATS (T) OPPORTUNITIES (O)

1. Aldi and Lidl upcoming 1. Online retail growth.

SAINSBURY’S 2. Growth in globalisation.
founded companies in UK. 3. Positive outlook for UK
TOWS ANALYSIS food retail industry.
2. Increasing labour cost.

3. Increase in animal rights.

WEAKNESSES (W) T1+W1: Focus on what O2+W1: Cheap imports,

1. Reliance on the UK competition doesn’t offer. good image.

market. T2+W2: Increase wages could W3+O1: Offering new

2. Unfunded employee be needed for benefits. delivery price up services

benefits affecting T3+W3: People interested in that could keep customers.

liquidity. animal rights will pay extra O3+W2: Positive outlook of

3. Rising food prices over for sustainably sourced animal industry brings employees

the world have products. looking for safety in stable

impacted on Sainsbury sector, although this may

selling at higher prices. have less benefits.

STRENGTHS (S) S1+T1: Could focus on S1+O2: Expansion in

1. Significant presence in British traditions to keep emerging and growing

the UK retail market. products. countries.

2. Strong portfolio of S2+T3: Could focus on S3+O1: Invest in IT systems

own labelled products. animal products origins e.g. and delivery assets.

3. Company’s cash British. S2+O3: Opportunity to

position. S3+T2: Can afford to prepare grow own brand, offer more

for and pay employees more. own brand products.

 Report: Strategic Evaluation

QUESTION-2: INTERNAL ANALYSIS

2.1. INTERNAL STRUCTURE OF SAINSBURY’S

To assist the payment of the acquirement, Sainsbury’s suggests an amalgam cash-

share scheme. It proposes to finance its “cash contemplation… through its current debt

services and resources, to be completely refinanced at a future date through the planned

transfer of HRG’s Financial Services business to Sainsbury’s Bank”, and share deliberation

with HRG shareholders holding 12 per cent of the collective trade.

Sainsbury’s seems to have surface with a wily financial plan to lessen the cash

payment. This includes overseeing the £200 million profits from HRG’s sale of Home-based,

and exhausting £250 million in cash from Argos’ balance sheet (Hope K 2016). It will

increase another £600 million from investors in its own bank to credit a book of “buy-now-

pay-later” finances from Argos in view of boosting Sainsbury’s Bank’s balance sheet.

Erstwhile to the statement of interest, HRG issued two profit warnings in three months as

Argos’ sales clashed amongst dangerous rivalry (Denicolo 2016). The hybrid cash-share

attainment of Argos ‘by disbursing with impartiality of the newly amalgamated group’

proposes that Sainsbury’s is trying to evade threats by procurement liquidity, at the same time

as guaranteeing that Argos undertakes some of the risks presented by the endeavor.

2.2. VALUATION

The relationships of the contract remain unaffected from Sainsbury’s planned offer,

nevertheless the estimate of HRG is no longer based on the final price of Sainsbury’s shares

on February 1. Sainsbury’s will pay 55 pence in cash and 0.321 of the joint business’ share

for each of HRG’s share, valuing HRG at £1.2 billion, or 143.7 pence a share based on its

closing share price of 276.3 pence on March 31. (Armstrong 2016)

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HRG stockholders are allowed to a distinct dividend of 25 pence a share from the

£200 million return on its Home-based sale and 2.8 pence per HRG share in place of a final

dividend for the financial year that ended February 27, subject to HRG board resolutions.

This distinct dividend will nonetheless not be paid.

A proper £1.4 billion bid for Argos has thus been issued, in lieu of approximately 74

per cent to the closing price of 98.7 pence per HRG share on January 4. With usual premiums

being 30-50 per cent, Sainsbury’s may be eager to pay up to 75 per cent premium in sight of

the collaborations.

The HRG’s board has decided to indorse Sainsbury’s bid to its shareholders in

contemplation of the offer, which is made provisional on gaining 90 per cent of HRG

shareholder provision and controlling approvals from the Financial Conduct Authority, the

Competition and Markets Authority and the Guernsey Financial Services Commission.

2.3. SAINSBURY’S KEY ISSUES

Some of Sainsbury’s ' main weaknesses are:

2.3.1. BRAND SWITCHING

Sainsburys also faces a number of hazards from brand switching, just like most retail

products. Despite loyalty schemes and promotions. Sainsburys finds the retention of clients

still difficult.

Argos would allow Sainsbury to speed up non-food deliveries and extend its

electronics, devices and toys range. The shutdown of some Argos shops, the sale of the

Sainsbury products in others and the opening of more Argos concessions in its supermarkets

can create better use of room.

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2.3.2. LOW MARGINS

As competition in the retail market grew and online retailers increased risk, the

majority of distributors lost volume. Sainsbury tried to cut expenses and maintain rates below

the competitive threshold, in order to attract clients to shop with them.

2.3.3. INCREASING COSTS

The retailer also has to invest in the shopping experience, which is a key factor

especially in the higher income segments, in addition to procurement costs. Self-service

technologies are a fundamental precondition, along with large narrow alleys, multi-story

parking facilities, trained and well informed retailers, each at an additional cost.

2.4. STRENGTHS AND WEAKNESSES OF MERGER

STRENGTHS WEAKNESSES

1. Strong market share  Single operating market

2. Diverse company  Low margin food business

3. Strong profitability balance sheet.

4. Differentiated quality food proposal.

5. Great place to work with diversity of

employees

The acquisition could be a response to intense competition between British grocery

store teams and makes Sainsbury’s, the second largest player within the sector, less

dependent on a market showing very little growth.

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Combining Sainsbury’s and Argos can forge a bunch providing over one hundred,000

product from a pair of,000 stores, larger than the united kingdom consumer goods and

general merchandise business of Tesco (TSCO.L), Britain’s biggest distributer, John Lewis

[JLP.UL], Marks & Spencer (MKS.L) and Amazon (AMZN.O), that is quick increasing into

the united kingdom grocery market.

“Our customers need North American nation to supply additional alternative, that

option to be quicker than ever, driven by the increase of mobile phones and digital

technology,” Sainsbury’s Chief Executive Mike Coupe told reporters.

2.5. VIRO TABLE

2.6. SAINSBURY’S MOTIVES FOR ACQUISITION

Sainsbury’s puts forward the opinions that obtaining Argos will support it to improve

sales growth, increase its total number of sites to 2,000 as well as businesses and click and

collect points, gain innovative admittance to delivery networks and deliver the chance to sell

their merchandises to each other’s clients. Chief benefit of all specialists say, could be

Argos’ delivery network.

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In late 2012, Argos exposed its operation to re-form itself as a “digital retail leader”

through its progression of technology-based catalogue. In 2015, Argos benefit from £10

million into additional increasing its delivery services to bid same-day delivery.

The agreements of around 40 per cent of Argos’ stores are in line for renewal in about

four to five years. Sainsbury’s recommends to shut and move about half of these stores into

adjoining Sainsbury’s stores. It says, that this will increase synergy recognition by £160

million by cutting property savings, legal, and organisational costs. Coupe recommended that

there “would (be) less stores but additional points of existence”.

2.7. THE VALUE CHAIN ANALYSIS OF SAINSBURY

In comparison with significant rivals in its identical activities, the Sainsbury value

chain analysis is shown in the table below. Sainsbury posted net profit last year of £614

million and total revenue of £23.6 billion. As described in the following porter’s value chain

table, Sainsbury sells a variable variety of products, including food products, clothing,

electronics, gasoline, and financial services.

 Report: Strategic Evaluation

QUESTION-3

STRATEGY EVALUATION

Anthony Henry (2008) mentions that Suitability, feasibility and acceptability can help

managers to be explicit about any assumptions that may underpin their strategies.

 Suitability: The plan is or is not an organization appropriate for the modifications that

assist the organization overcome problems or that assist to enhance the organization. An

organization will assess how well the approach meets the requirements recognized in its

strategic assessment. The strategy, the possibilities in the external setting, the

organization's resources and capacities and organizational goals should be coherent (Juha

Kettunen)

 Feasibility: It is important that a strategy works in practice. An organization must

guarantee that it has the resources and skills needed to execute the strategy, such as

finance, technology knowledge, marketing and other variables.

 Acceptability: This acceptance criterion deals with the stakeholders ' reaction to the

approach proposed. It must clearly be supported by those who will be the most impacted

in implementing a strategic shift.

In short, the next step will be the application of the strategy after the strategy has been

finalized. Usually implementation after the strategy has been formulated is regarded,

execution is a main component of strategic management.

RISKS FACED BY SAINSBURY’S AND ARGOS

DELAY

The UK's competition regulator has indicated that it will investigate the HRG

acquisition by Sainsbury's to establish whether the Sainsbury's plan likely result in a

"substantially less competition within any market or markets in the UK for goods or
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services". A final resolution on whether an in-depth investigation is required will be issued by

July 25.

The agreement is submitted to finalize in the third quarter of the year, presuming that

there is no significant involvement of the CMA. There are however concerns that the deal

may be crazy by a long wait for regulatory approval is obtained. HRG's finance director

Richard Ashton said that any feedback will likely be some time in August, therefore, the

effect of jeopardizing the finalization of the agreement by the end of the summer.

MARKET COMPETITION

Sainsbury's has suffered an anticlimactic fierce market competition, as Aldi and Lidl

have enticed customers with their discounts. It is warned about the imminent hard times after

the announcement of a fall of 14 per cent in underlying profit. Sainsbury's made £587 million

in the year to March 12, down from £681 million last year, and £798 million in the year

before that. Kopp indicated that he does not perceive an end to the price war, "as the market

is extremely competitive and it will remain so for the foreseeable future". This evidence of a

compatibility risk as it begs the question of if Sainsbury's is running its business well to add

to the pressure of assimilating Argos.

Amazon recently launched its pantry-next day delivery service, which currently deals

only in domestic needs, but an expected entry in the grocery sector this year, possibly

entering into full grocery delivery (Davey 2016). The Economist Intelligence Unit's chief

retail and consumer products analyst, Jon Copestake suggested that Amazon can do the

conversion in a big risk "offer(ing) a whole host of different products". It can impel 'Big Four

supermarkets' to further take advantage in online delivery.

SALES REDUCTION
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Consequently, the merge by Sainsbury’s in adopting Argos’ products and expanding

its online delivery services by using Argos’ pre-existing infrastructure “...could solve

profitability challenges, and persuade more people to adopt a multichannel grocery shopping

approach. The additional sales volume could propel growth significantly”.

PROFIT UNCERTAINTY

April 27, HRG listed a fall of 28 per cent annual profit, and an underlying pretax

profit of £94.7 million for the year to February 27, down from £131.1 million in the previous

year, resulting in tight markets and increased investment. It exceeded, however, the analysts'

average forecast of £93 million (BBC News Business 2019). HRG's sales fell 1% to £5.67

billion, its shares, which were up 71 per cent this year, went down 0.6 per cent to £169.3

Pence, and even further down to £166.9 Pence on 31 may; well below the operative £172

pence buyout price tag.

The benefits of the deal to Sainsbury's clear appears. In particular, some analysts is

considered, the more the estimated price tag as well as the Argos' slow selling and outdated

concepts as The elements that affect the basis for the occupation (Bruslerie 2016). Coupe

recently disregarded the trepidations that Argos will take Sainsbury's down market, stating

that there exist plenty of links between both institutions' customers and that a small number

of Argos concessions in Sainsbury's stores have dealt with.

INTEGRATION STRATEGY

Coupe intends to clear run as Sainsbury's and Argos, but insinuated during a press call

on March 18 that due to the administration's strategy is to a head office for both agencies to

avert duplication of roles. Despite the uncertain prospects for persons with head office role,

he also stressed that "(Sainsbury's) preceding more jobs, not less jobs".
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Head office promotion of the group strategy, with strong management of strategic

business units which are expected to realize this strategy. The removal of certain head office

roles might be harmful to either of the joint institutions of major success. An example is

Morrisons and Safeway (Fenton S 2016). The loss of Safeway's key management staff of the

individuals, especially with expertise on, among other issues, made it difficult to integrate the

two businesses and the performance of the group was deeply impaired.

DIVERSIFICATION

The above is a direct link with the Ansoff's matrix the concept of diversity. The

strategy of the plan can apply the theme or if the entity to risks in the emergence of new

markets, the need to create new products. Although both institutions belong to the retail

industry, they deal mainly in various goods. It is a condition that there are major

administrative staff of either the entity that understand the business, and possess the expertise

and know-how.

RECOMMENDATIONS

My advice is that Sainsbury's appropriate due diligence on the profitability of the deal

is required. This can be done by opening more than a handful of discount stores to evaluate

the success of a merge. In addition, stressed the importance of a strong post-merger,

Sainsbury's needs to ensure that it retains both entities' key management to ensure the success

of the combined group.

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