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Business Strategy Assignment - L'oreal

   

Added on  2020-10-05

12 Pages3724 Words460 Views
BUSINESS STRATEGY
Business Strategy Assignment - L'oreal_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. PESTLE and SWOT analysis for organisation for assessing its capabilities.....................12. Porter's Five Forces Model for examining competitive environment...............................4TASK 2 ...........................................................................................................................................53. Evaluation of different types of strategic directions available to an organization............54. Strategic management plan for L'oreal by including strategies, objectives and tactics.....6CONCLUSION................................................................................................................................7REFERENCES ...............................................................................................................................8.......................................................................................................................................................9
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INTRODUCTIONBusiness strategies is a name given to directions or guidelines that an entrepreneur ormanager considers so as to achieve various key benefits along with achievement of their overallgoals and objectives within a specified time frame. In a number of business concerns, managersand entrepreneurs have to adopt or practice a certain code of conduct so that it can help them inenhancing their overall strategic capabilities and also frame business strategies that can sustainfor a quite longer time period. (Brewster, 2017). Business strategies are also known providesupport and help to business entities. This further leads to enhancement of their productivity andprofitability in current competitive market. In the present context, this report has been framedon L'oreal which is a French personal care and wellness business entity. It has beenheadquartered in Clichy and also has its registered office in Paris as well. This report focusses onPESTLE and SWOT analysis of an organisation so as to determine organisation's capabilitiesand further evaluating them as well. Various strategies and strategic decisions have further beendiscussed in this report. In addition to this justification and recommendations regarding growthplatforms have also been mentioned in an appropriate manner. Lastly, this report includes astrategic management plan which helps a business in gaining a competitive edge. TASK 11. PESTLE and SWOT analysis for organisation for assessing its capabilities.Strategic planning is a name given to activities or guidelines which are considered orundertaken by managers or leaders of a business concern so as to gain competitive advantage.They further need to consider various key processes such as setting objectives, strengthening orenhancing their area of operations. They also deliver a common goal or objectives to theiremployees and stakeholders and ensure that they are working towards it (Cavusgil and et. al.,2014). In present context, L’Oréal is a leading brand that provides skin care and hair careproducts to its customers. Hence for sustaining in local market it is quite important that managersof Loreal frame strategies that are effective for them. For effectively analysing markets managersand leaders of Loreal have decided about examining internal and external market situationswhich have further been mentioned as under in the form of SWOT and PESTLE:1
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SWOT analysisStrengthsWeaknessesLoreal in present scenario happens to be aworld leader in market for hair care and skinbased products. This is due to their diversifiedand specialised portfolio and excellent qualitygoods and services. Loreal operates on a largescale and employs around 60000 employeesfrom all parts of the world.Loreal basically operates on a decentralisedorganisation structure which becomes aweakness for their brand as it is not alwayspossible that a single person can handle alloperational and non operational activities. Alsoa major factor is that they have specifically setsub divisions for each and every business unit. OpportunitiesThreatsIn context of L’Oréal there are a number ofbenefits such as they can tap advantage fromgrowing market (Chang, 2016). Also they owna quite developed market share as they have anumber of patents registered under their name.One major opportunity which can beconsidered by managers of Loreal is adoptingand manufacturing herbal and skin friendlybeauty products which will further lead togrowth and expansion. In context of Loreal it has been observed thatthreat for its brand has been constantly risingdue to high level of competition between othercosmetic brands. Also with the launch of newand innovative products hampers the bradimage of Loreal as people feel that products arenot as per their requirements. PESTLE analysisLoreal is currently a major hair care brand in international market. It is a house to anumber of skin care and hair care products which help in meeting needs ad requirements of itscustomers and also provides a stable market share to the company (Chang, 2016). Loreal haswell established units in 130 nations that are smaller in size. A number of factors have toconsidered by businessmen whenever they wish to conduct external analysis of their brand whichhas been mentioned as under:2
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