Report on Strategic Management of GODIVA
16 Pages5023 Words151 Views
Added on 2020-06-06
Report on Strategic Management of GODIVA
Added on 2020-06-06
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STRATEGICMANAGEMENT
Executive SummaryStrategic management is the tool that helps firms in managing their operations well. Currentstudy discusses about Internal Factors Analysis by Jay Barney's VRIO Framework. Furthermore,it describes External MICRO Factors (Porter's 5 forces framework) and Challenges of GODIV.In addition, Bowman's Strategy Clock Model is being explained in this report.
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11. Current strategic Positioning of GODIVA ........................................................................12. Strategic recommendations for GODIVA to strengthen its current position.....................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONStrategic management is the process in which company makes new strategies to competewith external forces. It is the process to implement new changes in organisation which gives highnumber of opportunities and growth. Strategic management helps members to understandorganisation goals. In this given project, GODIVA chocolate establishment will come intodiscussion which is a premium chocolate manufacturing institution in the UK. GODIVAestablished in 1926 in Belgium. It has overall 600 outlets in the United States. Such as inCanada, Europe, Asia. Including chocolates, they also provide truffles, coffee and cocoa biscuits,dripped fruits and sweets. The signature package of GODIVA is Gold Ballotine. It also providesspecial packaging chocolates for seasons and for holidays. Furthermore, this company also dealswith ice creams, cheesecakes and coffee pods. They also adopt one strategy for sugar freecustomers by providing them sugar less chocolates such as sugar free chocolates and cupcakes.GODIVA have huge variety of chocolate products which is premium in quality. GODIVA itselfis a big brand. In this present report, In this given assignment it will explain about the analysis ofexternal factors by using PESTLE model. Challenges of GODIVIn the current market situation it involves many challenging factors which affectsindustries growth. Like external or internal factors. These factors affect the company objectivesand customer policies. To beat the strategies off all these brands, GODIVA has to adopt somenew flavours and products. It will help to retain the existing and attract new customers. Forchocolate industries one big challenge is taste and quality which is important for the companiesto adopt healthy products. Godiva has five Chefs for making their chocolates who work for GODIVA they discovernew flavours. In GODIVA factories they made 30 to 40 new chocolate recipes on an average.Overall they make 290 million chocolates. From the past two years they get earn by 12%. 1. Current strategic Positioning of GODIVAExternal MACRO factors (PESTLE):Business environment is changing continuously. There are different macro factorsinvolved in the market which affect the business positively and negatively both. 1
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