Strategic Management and Impact of Internal and External Environment on ASOS Plc

Individual Report

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Definition of strategic management.............................................................................................1
Critical assessment of process that is used by company for determining strategy......................1
Critical evaluation of impact of internal addition to external environmental variation on
strategy of business concern........................................................................................................3
Review of strategic plan or business plan of the company..........................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
APPENDICES.................................................................................................................................9
Business Plan for ASOS Plc........................................................................................................9

INTRODUCTION
In a company, strategic management focuses on effectively deploying employees, funds and
other resources for goal attainment. It provides direction through designing policies along with
developing plans for achieving business goals and allocation of resources in order to execute the
plans. It outlines actions addition to decision making which permit managers to carry out
practices for reaching at determined heights of success. The purpose of the report is to critically
examine models and tools that company can use for analysing its internal and external
environment. For gaining knowledge about strategic management, ASOS Plc is taken into
consideration. It is online fashion addition to cosmetic retailer which was established in 2000 by
targeting young adults (ASOS Plc, 2022). From the statements presented in website of ASOS
Plc, it is analysed that the company works with mission of becoming number one destination to
shop fashion across the globe. The online store was marketed at 18-24 year-olds wanting to
imitate a celebrity’s style. The firm sold inexpensive replicas of items worn by then-popular “It
girls such as Sienna Miller and Kate Moss. It has multi sided business model, having
interdependent customer segment which are required to operate consumers and fashion
businesses. It offers six primary value propositions that are customisation, brand or status, price,
accessibility, convenience and cost reduction.
The assessment highlights strategic management, process for determining organisational
strategy and impact of environment variations on strategy of company. It also reviews strategic
or business plan of the business.
MAIN BODY
Definition of strategic management
As per Ansoff and Et. Al. (2018), strategic management is described as an ongoing
planning, monitoring, analysing together with assessment of all kinds of necessities that business
concern requires for meeting goals (Ansoff and Et. Al., 2018). It entails evaluation of strategy,
review of internal processes together with external factors, allocation of resources and analysing
competition. In aspect to ASOS Plc, strategic management is significant as it provides protection
from uncertainties, adopting new technologies, fulfilling social responsibilities and beating
competition. Managing strategies allow participation of superiors and subordinates in strategic
discussion that enables in better understanding directions and associated benefits.
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