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.
Task 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, a proper management of town is the foremost concern of the affiliated bodies in the city that includes a balanced perspective of both its general public and governmental bodies where they are hereby required to implicate some effective measures to outlook the same (Stratford town centre improvements, 2017). An adopted strategy will hereby aid them to refer the same with a prior assistance of roundabout theory to ensure a proper management of the accessible resources.
Fig: Roundabout Information Guide
It is therefore in accordance to the above implicated theory that has presented some strategic elements in it that are required to be concerned by the official bodies of the town to carry a step wise configuration of their work. This abstraction is hereby entitled as managing the invisible hands with a primary approach of creating a base for it. Below explicated are the five leading factors of this model, mentioned as-
1. Identifying core challenges and setting goals- It is the foremost measure in which, the respective bodies of the town centre are hereby required to determine the core challenges that are being faced by them. It is basically in order to eliminate any deterrent prospect of their work that they are referring to perform for the overall benefit of the city. It is after discovering the dealt challenges that are hindering the developmental context of the town centre, it will necessitate the regimental bodies of the town to frame accordant objectives for resolving the same. It together requires a planned foresee-ability of the managerial bodies of the city by conducting a primary investigation of their township. It is with a fundamental sense of analyzing the factual issues that are being faced by their citizens by together ascertaining any such factors that can together hinder the upcoming visitants in the town centre.
2. Assessing the prevalent situation- It is in accordance to the above applied tact of identification to acknowledge the core challenges that are being faced by the town in order to set prior goals for solving the same. With reference to which, this section will tend to evaluate the appropriateness that refers to assess the 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.
3. Managing execution- In this particular step, it is hereby important for the management to shed light upon the prevalent issues that are being faced in context to the developmental aspect of the township. Owing to this, focus is laid on principles of roundabout so that accordingly policies can be framed as well as other related aspects can be effectively considered in it. This is generally done by referring to an obstruct mean of conflict among the specified outlook of work. In context to which, the administrative bodies are hereby required to outlook a specialized approach towards their other associated bodies by opting for a vital format of interaction. This will facilitate them to promote the sense of industrialization in the city in regard to tourism, retail and other related prospects in it. However, more shops can be opened along with tour operators to grab the opportunities provided by capital of UK (Negus, 2011). This will together contribute them to deliver fine quality of services to a large number of parties and support them to access appropriate pathway for the movement of resources like raw materials, etc. This will also consider the delivery measures undertaken by the organizations in making a smooth transportation of their offered goods and services to their 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 ma