Change in Business Environment and Its Impact

Added on - Jul 2020

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SWOT ANALYSIS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Organisation description.............................................................................................................1Triggering event that require change.........................................................................................1SWOT ANALYSIS....................................................................................................................2Plan to implement changes..........................................................................................................33 strategies to sustain gain...........................................................................................................4CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONIn current time, it is necessary for the organisation to understand the need of market andmake changes according to it so that it can gain better stability. The report will cover the changein business environment and its impact on the firm. Along with this, a proper plan will also bementioned to implement this change. Some strategies are also provided that will help firm inretaining their position in market.Organisation descriptionApparel Group is a fashion retailer in the middle east known for its global fashion andlifestyle. The firm is growing at a fast rate; in current time, the firm is in partnership with 55international retail and food beverages brand (Apparel-group,2017). The firm started with justone brand in 1999 but today, it has expanded its business over four continents with more than1200 stores spread all over. In 2014, the total revenue of the firm was recorded $1,718,231. Bythe end of the year 2017, the number has changed to $2,386,435 which clearly shows that firm isperforming well and developing rapidly. The firm current strategy is to focus more on the needand demand of the customer (Retail apparel group,2017). In recent time, firm has implementedcutting the edge system so that whole process can become smoother for them. Alhokair fashionretail is one of the biggest rival of the firm whose annual revenue in year 2016 was recorded$7,276 million. It clearly shows that Apparel group have more strong market position that makesit one of the leading retailer in the nation. The firm is trying to add several brands with the firmalong with the kid brand. The aim of company is to expand their business in Gulf and India.Moreover, the firm is trying to open more than 120-130 brands along with 100 stores of kidbrand (Apparel-group,2017).Triggering event that require changeThe rise of E commerce has changed the face of fashion retail. This channel is beingfurled by the young generation whose shopping style is changing along with the women who aretaking liberties in world of fashion (Prayag and Hosany, 2014). The e- commerce have greatchance of success with new e retailer and more offline stores finding and exploring opportunitiesthat omni channel present.E commerce and digital marketing has become the face of themarketing and today's business. The evolution of marketing has changed the whole working ofthe firm. E-commerce is responsible not just for marketing but is also useful for many otherwork. E commerce has become the platform that not only use to sell the product but also help1
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