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Business Strategy - Vision, Mission Statements and Action Plans

   

Added on  2021-02-20

14 Pages3346 Words157 Views
Business Strategy

Table of ContentsINTRODUCTION...........................................................................................................................1Vision and Mission Statements along with the Corporate Objectives.............................................2Situational Analysis.........................................................................................................................3Macroeconomic Analysis – environmental scanning .................................................................3Industry and Sector Analysis.......................................................................................................4Observations................................................................................................................................5Internal Analysis..............................................................................................................................5McKinsey 7S Model....................................................................................................................6SWOT..........................................................................................................................................7Implementation of the Marketing Strategy......................................................................................8Design, Style and Quality issues; TQM.......................................................................................8Corporate Social Responsibility and Citizenship............................................................................9Recommendations for Future Strategy - Milestones and Leadership..............................................9REFERENCES..............................................................................................................................11

INTRODUCTIONBusiness strategy is the long term course of action devised by an entity with the solemotive of attaining a competitive edge and staying ahead of the competitors present in marketplace. The Global athletic footwear sector is rising at a substantial pace and is reported to haveundergone a massive growth in last some years. The incorporation of wide array of productcategories is being done by top notch companies conducting their operations in this corporatesector. Segmentation of products in this sector takes place to segregate offerings as per producttype (Sports Shoes, Hiking and back-packing shoes, Running and/or walking shoes, Aerobics andgym wear shoes), geographies (North America, Europe, Asia-Pacific, LAMEA) and users(males, females, children).1Illustration 1: Global Athletic Footwear Market (BY FORM)Illustration 2: Global Athletic Footwear Market (BY USER)

In this regard, technological advancement is regarded to be one of the key opportunitiesavailable to the entities with the exploitation of which they can inflate their current marketpositioning and brand value. Customers are also intending to pay more upon footwear lookingupon the usage of high quality raw materials and machinery for the production of products whichcan ensure comfort and convenience for people. The present project is based upon the strategicanalysis of Q Sporty which is a renowned athletic footwear corporation operating within theconfines of United Kingdom. The reports includes strategic tools and techniques such as SWOT,PESTLE, Porter Five Forces, McKinsey, SWOT, TQM and other key tools of external andinternal business environmental analysis.Vision and Mission Statements along with the Corporate ObjectivesQ Sporty is a company operating within athletic footwear industry. It sells over 5 millionpairs annually. In the recently completed year, this company earned an overall revenue of $238million together with net earnings of $25 million which is equivalent to $2.50 per share ofcommon stock. The respective entity is in a sound financial condition and its offerings are wellrenowned among people. In this regard, the Mission, Vision and corporate objectives of Q Sportyare given as underneath:- 2Illustration 3: Global Athletic Footwear Market (BY GEOGRPAHY/REGION)

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