Business Management Assignment: Strategic Planning for Online Boutique

This assignment addresses the challenges faced by an online clothing boutique, named 'The Basic Shop', focusing on business management and strategic planning. The student identifies key pain points such as website maintenance, competition, and inventory management. To solve these problems, the student emphasizes the importance of operational control, including supplier relationships, efficient procurement, and waste management, as well as strategic planning for resource allocation. The student highlights the need for structured problem-solving and suggests tools like direct supervision, data analytics, financial auditing, and online resource management applications such as 2-Plan and ScheduledApp to make informed decisions. The assignment provides a comprehensive overview of how to manage and strategize for the success of an online business.

Running head: BUSINESS MANAGEMENT
BUSINESS MANAGEMENT
Name of the Student
Name of the University
Author Note

1BUSINESS MANAGEMENT
The business venture for which I am the business manager is a new clothing online
boutique, named after its core business, The Basic Shop, where basic items for a closet is sold
through the medium of Instagram and the official website. The business will be targeting the
office-goers with the basic work wears, university and high school students, who are always
in, hunt of affordable clothing items that can build their look amongst their peers or
colleagues.
The pain points for ‘The Basic Shop’, an online clothing business can be creating
awareness amongst the numerous clutter and competitors in online platforms, website design
and maintenance paint points, as the website navigation should be straightforward and
simplistic. The item names needs to be navigated immediately after the searched keywords.
The next pain point can be the maintenance of product availability as per the received order.
The most crucial decision for the online clothing business will be to address the
potential issues of operations control and strategic planning. In operational control, the main
functions that needs to be ensured is to stimulate close connection with the suppliers of the
garments, facilitate efficient procurement and logistics process with the purpose of
responding to the incoming demands by considering waste management (Lawrence, Minutti-
Meza & Vyas, 2016). Strategic planning decisions for the business will focus on the
allocation of resources effectively for the blogging content, website management and delivery
service for the procured items (Kogan et al., 2017).
The problems are and will be categorize as structured problem as the pain points
identified needs to be addressed on a daily routine basis for responding to the resource
allocation, supplier relation, website maintenance and waste management decisions. The
tools and techniques applied for these decisions will be direct supervision, data analytics for
assessing the actual and expected data, financial auditing and free online applications for
managing resources such as 2-Plan and ScheduledApp.

2BUSINESS MANAGEMENT
References:
Kogan, L., Papanikolaou, D., Seru, A., & Stoffman, N. (2017). Technological innovation,
resource allocation, and growth. The Quarterly Journal of Economics, 132(2), 665-
712.
Lawrence, A., Minutti-Meza, M., & Vyas, D. (2016). Is Operational Control Risk
Informative of Undetected Financial Reporting Deficiencies?. Rotman School of
Management Working Paper, (2460882).