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Managing Strategy: Simulation Report on BSG
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Added on 2019-09-30
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This report discusses the performance of Company A in the footwear industry through a simulation report on BSG. It covers the competitive strategy, industry overview, decisions made, and company overview. It also provides insights on underlying strategic principles and learning points about strategy.
Managing Strategy: Simulation Report on BSG
Added on 2019-09-30
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Running Head: MANAGING STRATEGYSIMULATION REPORTINDIVIDUAL REFLECTIVE REPORT ON BSG
MANAGING STRATEGY1Contents1.Introduction..............................................................................................................................22.Competitive strategy.................................................................................................................23.Industry overview.....................................................................................................................33.1PESTEL analysis.............................................................................................................43.2Five forces model.............................................................................................................64.Company overview...................................................................................................................85.Decisions made.......................................................................................................................105.1The beginning phase.....................................................................................................105.2The mid-game phase.....................................................................................................115.3The end-game phase......................................................................................................116.Final results............................................................................................................................127.Reflection...............................................................................................................................138.Underlying strategic principles..............................................................................................139.Learning points about strategy...............................................................................................1410.Conclusion..........................................................................................................................14REFERENCES..............................................................................................................................16APPENDICES...............................................................................................................................18
MANAGING STRATEGY21.Introduction In this report, we will be discussing the overall performance of the Company A as compare to theother companies in the footwear industry. The Company A operates in the market of four regionsi.e. Europe-Africa, North America, Latin America and Asia Pacific and the segments of the market are the internet, private label, and the wholesale. Also, it has been observed that the level competition is high among the companies which rely on various factors like endorsements, time of delivery, quality, promotion, etc. Further, the competitive strategy will be described along with the overview of the company and the industry. Moreover, the section of decisions made willdiscuss the phases i.e. beginning, mid-game and the end-game. Then, the final results will be discussed along with the reflection and the strategies of the principles which are underlying for the Company A in order to attain sustainability in the industry of footwear. Then, the essential strategic points of learning will be discussed. Furthermore, this report basically demonstrates the reflective report of the Company A in order to analyze its overall performance in the industry of footwear.2.Competitive strategy By analyzing the complete industry of footwear, we have understood that the Company A has to change the way of working according to the change in time and technology in order to attain the sustainability and the profitability to a great extent. The Company A believed in diversification by using the technology of renewable and the green technology in order to become environmentally friendly. The Company A also decided to further diversify the workforce to maximize the production along with the variations in the lines of the product. The Company A
MANAGING STRATEGY3took the decisions to expand the operations in the various regions. Further, the decisions of strategy for the Company A relied on the improvement of the lines of production, availability, standards of quality, styling, etc. Moreover, the Company A has used the combination of the generic competitive strategy of cost leadership in order to minimize the cost of operations along with the maximization of the revenues (Slack, N., 2015). The Company A wants to exploit the production scale to a great extent. Further, the strategy of differentiation is being used by the Company A in order to generate unique and the innovative products along with the services for the targeted segment of the customers (Brenes, E.R., Montoya, D. and Ciravegna, L., 2014). The aim of the Company A is to create a strong market presence and further attract the customers to agreat extent to attain sustainability. Also, the strategy of focus is being used by the Company A in order to provide the best quality products and the services to the customers of to further attain a competitive edge in the niche market. Further, the vision of the Company A is to become the leader of the footwear industry be developing a landmark.3.Industry overview It has been observed that the footwear industry is dynamic and further the industry works in the various diverse locations of the market. The regions where this industry offers products and services are an example of astute for the internationalization and the globalization. Moreover, thePESTEL analysis and the value chain analysis will help in understanding the overall industry of footwear to a great extent.
MANAGING STRATEGY43.1PESTEL analysis The macro environmental analysis is being used to analyze the environment externally for the Company A in order to identify the opportunities for the company in order to accomplish the vision along with the maximized profitability (Ethiraj, S.K., Gambardella, A., and Helfat, C.E., 2016).Political factors-It has been observed that the footwear industry views distinct policies of the government in various locations and the taxes, tariffs and duties vary according to the locations. Further, the policy of trade in North America is liberal to some extent in comparison to the various areas of the locations like Europe and Latin America. There is stability in the political environment whichhelps the companies to explore the opportunities.Economic factors-It has been observed that the economic factors like rate of exchange among the different countries, the stock market, interest rates of the banks, etc. impact the overall functioning and theperformance of the industry. It is necessary to take these factors into consideration for the companies otherwise, they will not be able to take the decisions related to the finances. Further, the industry is contributing greatly towards the growth of the country.Socio-cultural factorsIt has been observed that the footwear cannot be manufactured in order to cater a wider group. It is important to consider the products along the targeted age group in order to provide high-quality products in order to satisfy them according to their needs and the demands. Further, the
MANAGING STRATEGY5athletic industry of footwear has maximized the awareness among the people in order to be conscious about health by initiating various programs of awareness.Technological factorsIt has been observed that the various companies in the footwear industry are utilizing the innovative and the advance technology to manufacture the products of footwear to attract the customers and further retain them for a longer period of time. Also, the companies are able to attain the sustainability along with the competitive edge by focusing on the factors of technologyand changing the way of working accordingly.Environmental factorsIt has been observed that some companies in the footwear industry are using the environmentallyfriendly process of production in order to attain the sustainability and protect the environment. The companies are also using the technology of re-cycling in order to re-use the products completely without causing any wastage of the resources. Further, companies have to take the environmental factors seriously in order to hold the strong market presence and maximize the sales along with the revenues.Legal factorsIt has been observed that the footwear industry has to follow the legal rules and the regulations according to the regions in which they are offering products and services, for example, the law ofemployment, consumer and taxation law, regulations of safety and health. It is also being observed from the analysis that the environment of the footwear industry is overall satisfactory.
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