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Sample Assignment - Strategic Management (pdf)

   

Added on  2021-06-17

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Running Head: STRATEGIC MANAGEMENTStrategic management Target Australia

STRATEGIC MANAGEMENT 1Executive summaryThis is the world of competition and everyone has their respective competitors. Target Australia is one of the leading companies operating in Australian in departmental store industry. Target Australia has to compete with its rivals to sustain its market position with these competitors. In this order Target Australia need some strategic management. Strategic management is a process of systematic analysis of the current scenario and planning for strategies and their implementation. This report consist analysis of Australia market for Departmental store industry and SWOT analysis of the company. This analysis helps in making new strategies for the business growth. In this report there is also an analysis of strategy possibilities according to company’s growth rate and competitive advantages.

STRATEGIC MANAGEMENT 2Table of ContentsIntroduction................................................................................................................................3Market size and trends...............................................................................................................3Market size.............................................................................................................................3Competitors............................................................................................................................4Market trends and segmentations...........................................................................................4Distribution channels.............................................................................................................5Financial and corporate performance.........................................................................................5Balance scorecard...................................................................................................................5SWOT and competitive advantages...........................................................................................6Strengths.................................................................................................................................7Weaknesses............................................................................................................................7Opportunities..........................................................................................................................8Threats....................................................................................................................................8Capabilities.............................................................................................................................8Competitive advantages.........................................................................................................8Strategic options.........................................................................................................................9Possible recommendations.........................................................................................................9Conclusion..................................................................................................................................9References................................................................................................................................11

STRATEGIC MANAGEMENT 3IntroductionIn the era of competitiveness there is high demand for businesses to come up with new ideas, services or products in the market. In this era if the companies do not upgrade their services or products, these would become unattractive and will results in closing down the company. if the business organization is genuinely interested in running their business as longas possible, then it is essential to realize the importance of innovations and marketing strategies to maintain their competitive position in the market. These marketing strategies include the formation and implementation of the desired planning to achieve the goals of competence and growth of company in order to sustain the market position of company. This report contains a brief analysis of these marketing strategies with the internal capabilities of “Target”. This report also includes SWOT analysis of the company. Market size and trendsMarket sizeAustralian department store industry has struggled in last five years. This struggle was due to weak retail environment in the industry and some negative sentiments of the consumers. These sentiments dragged the industry in this struggling period. It is expected to fall the industry revenue at an annualised 0.9% over five years. Industry revenues through thefiscal year of 2017-18 expected to $18.3 billion[ CITATION IBI18 \l 16393 ]. Target is operating more than 300 stores across the nation as well as has an online business. In the industry Target employs more than 14,000 team members across its support offices, stores and sourcing outpoints in Asia.

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