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Business Strategy Assignment - L'oreal organisation

   

Added on  2020-10-22

15 Pages4254 Words50 Views
Business Strategy

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1TASK 1............................................................................................................................................1PESTEL and SWOT analysis......................................................................................................1SWOT ANALYSIS.....................................................................................................................3Porter's Five Force model of L'oreal...........................................................................................4TASK 2............................................................................................................................................7Strategic growth plan of L'oreal..................................................................................................7Justification and recommendation of growth platform and strategies........................................83. Strategic management plan.....................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONWithin a business, the setting up of strategies and action plans is very important formaintaining performance of the firm. Looking at the operations and functionality of theorganisation, the management of organisation will look after the proper planning of the strategiesand other operational functions of the organisation. The current report is based on environmentalanalysis and strategic growth plan that is been taken within the cosmetics and skin care firm,L'oreal. It is a France based firm that operates on global level.The report covers the PESTLE and SWOT analysis of organisation and evaluation oforganization's capabilities to perform its operations accordingly. Also, the competitiveassessment of the enterprise is been presented with the use of Porter's Five Force model. Otherthan this, a strategic business plan is been formulated that will help in improving the growth anddevelopment operations of the organisation. It will help in improving the facilities and executionof business operations.MAIN BODYTASK 1PESTEL and SWOT analysisL'oreal being a well known and global brand is susceptible to be effectively influenced bythe environmental factors, regardless to internal and external for its operations. Looking at this,The cosmetics and skin care firm will look after the proper assessment of operations and thus,will see through the proper planning of services that will help in improving the overallperformance of the firm. The external or macro environmental factors will impact the operationsand execution of the services of the organisation (Olson and et.al., 2018). Besides this, it willguide the management of L'oreal to develop proper and effective strategic plan, based on theassessment of the operations and other activities that are followed within the firm. The suitableassessment of the organisation and impacts of its external environmental factors are as follows:Political factor: Political factors for the business are the concerning issues that directly affecttrading, exporting and other alterations in governmental policies of country. In terms of L'orealcompany, its business is greatly affected by political factors like change in trading policies andfluctuations within country like Brexit or re-elections. This will help in proper assessment of thebusiness operations and gaining of the operations that will help in setting up of strategies andthus, will help in gaining a good market share and thus supports growth of the firm. This will1

help in setting up of the strategies which will influence the setting up of action plans as per theregulation set by government.Economic factors: the economic factors of the organisation consists of the components thatincludes the financial elements of the organisation. The setting up of inflation rates, employmentrates, GDP of the country like UK in post Brexit phase, Net income of the organisation and theexchange rates of the currencies on global market level is been analyzed. Management of L'orealis required to see through the adoption of policies and action plans that will impact the sales oforganisation. This will help in proper assessment of the operations and thus, will help in properplanning of financial operations of the organisation. This will help in making strategies that willaid the firm to have an economic stability and reducing the chances of organisation to lose itseconomic resourcing and support.Differences in exchange rates on the worldwide level is themain economic factor that will influence and affect carrying out of the operation of LO'real inmarket.Social factors: It includes the trends and practices that exist within a society. Major part for thesociety, young women will be the key consumer of products of L'oreal and hence, the form isrequired to set its strategies and policies that will help in increasing the sales of the products andservices of the organisation. The assessment of the consumers or buyers trends will help indeveloping a good strategy or carrying out of process to launch a new and innovative product toretain its customers. Also, the ingredients or constituents of certain cosmetics products that maylead to social or ethical outrage, impacting performance of organisation.The business must beaware of these factors in order to sustain its clients and customers.Technological factors: Technology is been imbibed within all the aspects of life and cosmeticsor skin care sector have lead to the proper assessment of proper operations and thus, will lead tocarry out the innovation on launching new products and services that will impact the sales andoperation of the products by the organisation of a firm. Technological tools like social mediamarketing, digital surveying etc can be taken in consideration which will help in improvement ofservices and assimilating suitable strategies that will help in proper assessment of contemporarytrends and facilitates the innovation for success of a brand. Digital and technological tools likeSocial media will help in proper assessment of customer needs and developing productsaccordingly.2

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