Assignment on Business Strategy - Zara
15 Pages3969 Words138 Views
Added on 2020-07-22
Assignment on Business Strategy - Zara
Added on 2020-07-22
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Business Integration
Executive SummaryBusiness strategy is tactic to improve the existing process of any organisation. Every firmrequires an effective business strategy to compete with rival. In the present report, how Zaradevelop its strategic plan to overcome the issue has been systematically addressed. In addition tothis, various strategic alternative's option and strategy has been also discussed which help Zara inimproving its existing business. Differentiation is the strategy by which organisation startproducing different products from their competitors in order to gain competitive advantage. Theorganisation is adopting differentiation strategy which helps them to stand different in themarket. It helps the venture to produce innovative products by which they can attract and retainlarge customers. The firm is facing lots of problems such as lack of advertisement andpromotion, limitation of the Zara product, changing customer taste and preference andsustainability of the fast fashion. In order to remove these problems, they have adopteddifferentiation strategies so that they can attract large target market and have competitiveadvantage.
Table of ContentsExecutive Summary.........................................................................................................................2INTRODUCTION...........................................................................................................................14 Brief issue identified in the Zara .......................................................................................15 Identification of the existing strategy and its connection with company vision and mission..26 Two viable strategic alternative...........................................................................................3Advantage e and disadvantage of the strategic alternatives...................................................57. Recommendation on strategy and why it is important.......................................................5(a) Description on selected alternative strategy and discuss why its chosen over others. .....5RECOMMENDATIONS.................................................................................................................7(b) Description on how these strategies helps in manner to full fill financial objectives ofBusiness enterprise.................................................................................................................78. Discussion on issue due to implementation of selected strategies.....................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONIn the present time, there is huge competition in the market through which organisationdevelops their own business strategy to compete with rivals. In order to survive in thecompetitive market, firm required to understand its actual goal of business. With help ofbusiness environment analysis and internal audit company can easily understand its owncapability and competency. In the present report, significance of the business integration hasbeen systematically addressed with respect of Zara company. It is own of the most well knowninternational fast fashion company which delivers high quality of clothing and accessories. Thisassignment has done according to the assessment one under which various issue of the Zara hasbeen identified. On the basis of the issue identified in the assessment one, a systematic strategicplan has been developed for the cited venture by which all issue will overcome in the future andzara can attain its determined objective in an effective manner.4 Brief issue identified in the Zara As per the discussion in the assessment one, it has been identified that Zara is one of themost international fast fashion corporation which delivers the high quality of fashion accessoriesand clothes to the customers. It has more than 1830 stores in the more than 82 countries. It hasstrong position in the market due to its reasonable prices and high quality of product andservices. In the internal audit it has been founded that cited venture have some major weaknessissues related to its business through which it negatively influenced. These issues are as follows-Its major issue is it have lack of advertisement and promotion in the market due towhich many of the customer are still unaware about its product and services.Its another major issue is imitation of the Zara product (Leitner, Meissner and Martyna-David, 2015). There is huge competition in the market and several rivals are deliveringsame products.Its another issue is regular changing customer taste and preferences. As Zra is dealing inthe fashion products which is largely depends upon trends and changing customer tasteand choice. Due to changing customer perception it have to changing its style of productand services (Kernbach, Eppler and Bresciani, 2015).Another major issue is the sustainability of the fast fashion. Zara has created long lastingstyle to the market which could reduce market uncertainties.1
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