Impact of Emerging Themes on Current Business Strategies

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Added on 2020-06-04

Impact of Emerging Themes on Current Business Strategies

Added on 2020-06-04

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EMERGING THEMES

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1FINDINGS AND ANALYSIS........................................................................................................11. Impact of emerging themes on current business strategies................................................12. Impact of emerging themes on the operational and strategic decision-making of Asos....53. Recommendations to manage the impact of emerging themes..........................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

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INTRODUCTIONBusiness today is growing at a fast pace incorporating various strategies, recent trendsand developments in the environment. The emerging trends have helped business organizationsto expand and increase their scale of operations. The impact of political, social and demographictrends have the impacted fashion industry and its overall growth. The internet based shoppingand marketing has provided organizations with competitive advantage.Asos is a leading online fashion organisation of UK, selling clothing for men and womensince 2000. Company has also expanded into accessories, jewellery and beauty products over theyears grabbing online customers and marketing more than 9000 products. Company has listedshares for public on AIM, a part of London stock Exchange. The report incorporates emergingthemes and its impact on the organization which is a leading fashion retailer. Afterwards itincludes various recommendations which needs to be undertaken by the organization in order toachieve competitive advantage.FINDINGS AND ANALYSIS1. Impact of emerging themes on current business strategiesThe new trends and emerging developments has impacted Asos marketing and sellingstrategies. An online store needs a huge scale of operations in order to expand its services andincrease its production units. With the growing in demand and changes in fashion, Asos hasexpanded its warehouse area from 550 square meters to 32,500 square meters in a span of fiveyears (Banich, 2018). Not only this, the company has also enhanced its workforce from merely47 employees to 250 working employees in the year 2008 with the increase in demand for itsproducts.Asos being the leading online fashion company has seen a major change in last five yearsfrom 2005-2008 which is mainly due to both macro and micro environmental changes (Council,2010). The impact of these changes has evolved Asos as one of the successful organization infashion market. In order to sustain in the competitive environment, UK Fashion industries haveto deal with many political issues, economic uprising and changes in social trends, technologicaladvancements as well as transformations in laws and policies for environmental protections(Banich, 2018). Evaluating various changes and its impact:Political environment1

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Asos being a public limited company is impacted by the various changes and shifts in thepolitical environment which affects shareholders earnings as they are the owner of the fashionconcern. The shares of the company are listed on AIM and could be bought and sold by thepublic in general (Bogers and et.al., 2017). The changes in political environment will impactoverall working of Asos as it is a legal entity. Moreover, the impact of market demand andsupply will decide its share prices rates and hikes. Since Asos operates globally it is impacted by the political environment and politicalinstability of various countries significantly (Bogers and et.al., 2017). The trade barriers andtariff policy of every country will have an impact on the fashion industry weakening its position.The intellectual property rights and protection costs a lot to companies serving online aswarehouses needs to be purchased.Technological advancementsThe emerging use of mobile technology, online platform and web based and digitalplatforms have provided companies new edge. The use of internet has simplified the processes ofthe company by providing growth tremendously (McRobbie, 2008). The company has spend atotal of £30.2 billion in 2006 on online as the growth of online customers increased by 56%. Thetechnical advancement in form of social media platforms and sites such as Facebook, twitter andothers has simplified customers reach to organization. The company has evolved drastically over the last five years transforming its structure,processes and systems (Kadam, 2018). Asos continuously checks on new developments andtrends incorporated by its competitors and then plan strategies to develop better design and unitsfor marketing of products. The company being a retail industry needs to expand its advancementof technology in each and every aspect.Demographic changesThe customers and their demands are changing continuously. Fashion retail industry likeAsos needs to be evolve continuously with market trends in order to survive (Gao and Reitz,2017). The company needs to assure its customers visiting sites that new trends and fashionproducts are available by creating value and encouraging them to purchase. The company needstop create such a remarkable impact by offering quality products at reasonable price whichstimulates customers to buy online.2

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