Business Strategy

This presentation provides an overview of business strategy, focusing on the fashion industry. It discusses the business profile, long-term vision and mission, business goals, critical success factors, and factors considered in formulating a strategic plan. It also introduces the BCG Matrix and its advantages and limitations. References for further reading are provided.

BUSINESS STRATEGY
TASK 1

Business profile
Planned business is provided latest brands cloth to there
customers who are generally men and women of age
group 18 to 50. this provided the fashionable and latest
brand clothes as per the choice of there customers. They
use good quality fabrics and raw material for
manufacturing the clothes. They also keep check on the
cost of clothes. The main aim of our business is to
provide wide ranges of clothes to large number of
customers. The business runs with a main motive to
increase the number of customers by providing them
latest clothes at affordable prices. Their aimis to satisfy
customers with varieties of clothes.

1.1 Overview of “Fashion World”
Product portfolio: Fashionable clothes for men and women.
Industry: Apparel industry
USP (Unique Selling Preposition): Quality products and
unique designs in all budget ranges
Pricing mechanism: Affordable prices
Target consumer base: Male and Female of age group 18 to
50.

Long-term vision and mission
Vision: “ To be the number one fashion industry
globally”.
Mission: “ To provide the latest fashion clothes to their
customers ”.

Business goals
• To take over the market share.
• Increase the profitability.
• Increase the sales.
• Good quality clothes.
• Low cost.

Critical success factors/Core competencies
• Skilled workforce
• Quality products in unique designs
• Loyal consumers base
• Strong online network
• Integrated promotional campaign on social networking channels
and website
• Use of latest manufacturing techniques

1.2 Factors that are considered while formulating
strategic plan
The strategic plan can be formed efficiently by considering
three factors:
Industry outlook
Competition
Strengths and weaknesses

Industry outlook
• Growth of industry by 20% increase in
sales.
• Increase profitability by 25%.

Industry outlook
• Growth of industry by 20% increase in
sales.
• Increase profitability by 25%.

Compitetors
• Fashion destination.
• Fashion line limited.
• Blue line
• Dents.

1.3 Evaluation of ways which are used to develop
strategic business plan
BCG Matrix

CONTD….
Stars
Cash cow
Dog
Question mark

Advantages of BCG Matrix
 At which time has to invest and focus on the new firm or
business.
 It shows that when to divest money from market.
 It supports to analyse present balance of portfolio.
 Helps to take future decisions and actions.
 It is easy understandable model.

Limitations of BCG matrix
 It ignores synergy impact between the units of a firm.
 Typical to find data in terms of growth and market share.
 Low market share of firm can generate more profit sometimes.

REFERENCES
Astrachan, J. H., 2010. Strategy in family business: Toward a multidimensional
research agenda. Journal of Family Business Strategy. 1(1). pp. 6-14.
Campbell, D., Edgar, D. and Stonehouse, G., 2011. Business strategy: an
introduction. Palgrave Macmillan.
Higgins, D., Omer, T. C. and Phillips, J. D., 2015. The influence of a firm's
business strategy on its tax aggressiveness. Contemporary Accounting Research.
32(2). pp. 674-702.
Issa-Salwe, A, and et.al., 2010. Strategic information systems alignment:
Alignment of IS/IT with business strategy. JIPS. 6(1). pp. 121-128.