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Assignment on Business Project

   

Added on  2019-12-04

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BUSINESSPROJECT

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3COMPARATIVE ANALYSIS........................................................................................................4Competitive position of Burberry in several markets..................................................................4SOCIAL IMPACT.........................................................................................................................11Consideration taken by the company to create social impact....................................................11CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................172

INTRODUCTIONGlobal trading which is also known as international trade has become a most emergingtrend in the present era. Every organization aim to do the business internationally. Further, bydoing this organization thrives to achieve competitive position. A position is refer to as a placewhich a firm wish to acquire in the industry. Moreover, in order to assess their competitiveposition a corporate do the comparative analysis of their growth performance with theircompetitors (Siau and Rossi, 2011). Whilst maintaining their position in domestic market, acompany also aims to maintain the same position in international market as well. However, thechanging dynamics in international market imposes challenges on the company to maintain itsposition in the global market. Changes such as advancement in technologies, changing economiccondition, cultural differences and many more. In order to survive in a global market, a firm dothe comparative analysis of themselves with other multinational corporations (Weidlich andet.al., 2012). On the other hand, for surviving and maintaining the competitive position in a domesticas well as in an international market, a firm also requires to have a good social impact on theminds of consumers and society. Social impact is equivalent in making the position of thecompany at high in within and outside the boundary. Company is require to emphasize upon thecultural aspects that assist in establishing top position in the international markets (Carney andet.al., 2011). The firm has to focus upon various aspects of international market that are culturalnorms, values, beliefs, religious difference, environmental context, etc. This is how organizationcan set up themselves in the market of other countries. However,comparison of its competitiveposition can also be made in the various markets. Along with that by creating social impact in themarkets, a firm can also build competitive position in the market. This project is mainly focused on the competitive position and social impact of Burberryin different markets. This company is a public limited company which is headquartered atLondon, England (Ahi and Searcy, 2013). Furthermore, this firm fall under the fashion industryand deals in the products like clothing, accessories, perfumes and cosmetics. In 2015, thecompany generated the revenue of £2,523.2 million worldwide. This is achieved through thehighly skilled 10, 851 employees which are employed in the firm worldwide. This firm'scompetitive position is compared with the other fashion retail firms of UK market and also in the3

market of China. Along with that, discussion has been made creation of social impact throughcorporate social responsibility, environmental protection and respecting the culture. Moreover, ithas also been described that social impact leads to the generation of competitive advantage of theBurberry in UK as well as in China.COMPARATIVE ANALYSISCompetitive position of Burberry in several marketsIn a general term competitive position refers to as the distinctive position which acompany occupies in a market or they are trying to occupy in relation to their competitors.Burberry which is basically dealing in the fashion products have made a competitive position inthe UK market along with the global market. The firm provide product and services as per theidentified needs of their customers (Louzis, Vouldis and Metaxas, 2012). Furthermore, themanagement has to maintain the same position in various parts of the world. For this aspect,company has to analyze its position and find out where they are lacking. This way company canmaintain its position and also they can thrive to reach at the top against their competitors. Thus,company has to assess its competitive position by comparing their position with theircompetitors. Therefore, the competitors of Burberry is Gucci, Louis Vuitton and Prada. Theyalso deals in the similar products as Burberry and also their target market is high-end customers. For carrying out the comparative analysis of Burberry, the competitive position in themarketplace is identified (Shenkar, 2010). For this reason, it has been analyzed that Burberryprovides such products to the buyers which satisfy their needs. In other manner, it can be saidthat customers are extremely satisfied with the products and services of this organization.Products sold by the company are of optimal quality. Further, high prices are charged for theproducts of the company as the target market of the firm is high income group. Therefore, thefirm has maintained its position as a premium brand in the minds of consumer. Thus, customersare highly satisfied with the products and services which are provided to them. Furthermore, theemployees of the company are loyal and they are committed towards their work, due to whichthere is low staff turnover and all the human resources work hard so as to satisfy their customers.The competitive advantage of the company has been created because of the employment ofhighly skilled workforce and also by providing utmost quality products. Moreover, the companyhas positioned its brand in the minds of customers as 'functional luxury' (Bonchi, 2011). This4

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