Globalization and Strategic Planning for Watches of Switzerland Group Plc

This report analyzes the impact of globalization on Watches of Switzerland Group Plc and provides recommendations for strategic planning. It includes a PESTLE analysis of macro-environment factors such as political, economic, social, technological, legal, and environmental factors. The report also discusses key issues such as developing online shopping after Covid-19, changes in the supply and demand rate of customers, and implementing technologies. The methodology used for the report is secondary data collection methods.

Globalization and Strategic Planning Directorate

TABLE OF CONTENTS
Background..................................................................................................................................2
Methodology................................................................................................................................3
Key issues....................................................................................................................................3
Global Macro-environment factors..............................................................................................3
Recommendations........................................................................................................................4
REFERENCES................................................................................................................................5

Background
The Watches of Switzerland Group Plc is a British luxury jewelry retain company who
actually offers range of products to range of different areas. Currently the company have 153
showrooms and the growth of a company is also increases year by year which is as mentioned
below:
Figure 1: Thewosgroupplc.com, 2021
This in turn reflected that company is keep increasing from last many years and the
operating revenue recorded from its official site is £905.1 million. This shows that company is
meeting the basic need of customers and generate best outcomes as well.

Figure 2: Statista.com, 2021
The above graph depicts that the financial performance of a company increases year by
year and this in turn reflected that company is focusing upon range of methods that helps to
improve the business performance (Olšiaková and et.al., 2021). That is why, it can be stated that
the market segment of the company is keep increases year by year in order to create better
outcomes.
Methodology
For the report, only secondary data collection methods have been used which in turn
assists to generate the best outcome. Also, the official national statistics is used which helps to
determine which macro-environment factors affected the business.
Key issues
 Developing online shopping after Covid-19
 Changes in the supply and demand rate of a customers
 Implementing technologies
Global Macro-environment factors
By using PESTLE analysis, the macro environment factors are determined which are as
mentioned below:

Political: The Watches of Switzerland must consider the factor because it affects the
operations. As, trade war and instability in the country force company to develop methods that
assists to run a business in effective manner.Economic: It deals with foreign exchange rates and inflation rate. This affect the supply
and demand rate of a country that affect customer decision making process (Stalmachova and
Strenitzerova, 2021). Also, pandemic affected the business performance and lower down the
demand as well. So, quoted firm must take effective measure to solve the issue.Social: By analyzing the need of customers and offer the product accordingly assist the
business into positive manner. Such that emerging of online shopping helps company to focus
upon this by offering effective discounts that helps to attract customers towards it.Technological: It assist company to smoothen the business operations and for that AI and
machine learning can be used that helps to attract he range of customers towards it. As, such
implementation assists company to minimize the cost and improve financial stability.Legal: Complying with legal act and contracts assist company to reduce the chances of
negative impact upon the business brand image. For that, Employment act, Equality act must be
adhered (Khan, Naazer and Mahmood, 2021).Environment: Comply with sustainability act assist company to improve the performance
of a company and reduce the chances of pollution.
Recommendations
It is to be suggested to determine all the macro-environment factor that might affect the
business, for which business needs to be develop strategy that helps to create a positive impact
and reduce the impact as well.

REFERENCES
Books and Journals
Khan, M. A., Naazer, M. A. and Mahmood, A., 2021. Challenges to globalization and its impact
on prevailing international liberal order.
Liberal Arts and Social Sciences International
Journal (LASSIJ). 5(1). pp.372-385.
Olšiaková, M. and et.al., 2021. Globalization and its impact on the Slovak consumer. In
SHS
Web of Conferences (Vol. 92). EDP Sciences.
Stalmachova, K. and Strenitzerova, M., 2021. Globalization and its impact on employee
motivation. In
SHS Web of Conferences (Vol. 92). EDP Sciences.
Online
Statista.com (2021).
Luxury watch market value worldwide 2018-2025. 2021 [online] Available
at: <https://www.statista.com/statistics/940452/luxury-watch-market-value-worldwide/>.
Thewosgroupplc.com (2021).
The Watches of Switzerland Group PLC. 2021. [online] Available
at: <https://www.thewosgroupplc.com/>.