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Strategic Management - Parkson Assignment

   

Added on  2021-01-01

16 Pages6022 Words574 Views
Leadership Management
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Strategic Management
Strategic Management - Parkson Assignment_1

TABLE OF CONTENTSINTRODUCTION:..........................................................................................................................1PURPOSE OF THE REPORT ........................................................................................................1OVERVIEW OF PARKSON..........................................................................................................1OVERVIEW OF PARKSON..........................................................................................................1Strategic challenge......................................................................................................................1MISSION AND GOAL STATEMENT..........................................................................................1SMART objectives......................................................................................................................3SMART objectives as below:.....................................................................................................3ENVIRONMENTAL ANALYSIS .................................................................................................3INDUSTRY ISSUES:......................................................................................................................5CAPABILITY ANALYSIS .......................................................................................................6VRIO model ...............................................................................................................................7PROPOSED STRATEGY ............................................................................................................10Swot Analysis:..........................................................................................................................10STRATEGY EVALUATION .......................................................................................................12CONCLUSION : ...........................................................................................................................12REFERENCES:.............................................................................................................................13
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Illustration IndexIllustration 1: Scanning the Environment: PESTEL Analysis, 2016..............................................................................3Illustration 2: The Ansoff Model..................................................................................................................................10
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INTRODUCTION:In order to grow and develop business requires different types of strategies. A strategy is a plan or blueprint that shows howcompany will achieve goals and objectives. Strategic management refers to developing of effective strategies in appropriate time(Trigeorgis and Reuer, 2017). This helps business to minimise the impact that it can have due to change in external or internalfactors. Besides this, strategies provide right direction or way to business to enter in new market. Strategies management is animportant part of organisation as it helps in attaining the overall goals and objectives. It also deals with various problems that occurswhile implementation of strategy. Moreover, their role is to allocate resources and take decisions regarding change in strategy. Forpresent report organisation selected is Parkson. It belongs to retail sector and operates in Asian countries. PURPOSE OF THE REPORT This report is prepared to identify the role of strategic planning in developing strategies. Also, a strategic plan of Parkson willbe developed. It will include the macro and micro environmental analysis and other factors such as Porter five force, value chain, etc.(Goetsch and Davis, 2014) The development of this plan will help Parkson to expand in new market. OVERVIEW OF PARKSONParkson is an Asian based departmental store company that operates in retail sector. It majorly operates in Asian markethaving stores in countries like China, Malaysia, Indonesia, etc. the total number of stores company is having are 131. In today's eraParkson is operating successfully in Malaysia. They are now focused on expanding in other Asian countries. The parent group ofParkson is Lion group. OVERVIEW OF PARKSON1.Year of incorporation – In 1987 2.Year of listing- 19953.Business divisions- 54.No of employees- 2875.Current FYE revenue.- 3964 millionStrategic challengeStrategic management is facing some problems and issues in Parkson. It is due to increase in competition in differentmarkets. This has highly affected the growth and development of company (Goldfarb and King, 2016). Now they need to developshort term goals so that it can retain market share and earn stable profits. Parkson is also facing the challenge of declining sales. Due to this company has to close their store in Maju junction mall.Also, the mall is not performing well so the sales of Parkson is declining. Moreover, the rent of mall are rising to a great extent. This isincreasing the expenses of company. They are not able to earn enough profits. It is the major challenge company is facing in Malaysia(Bergh and et..al 2017). The strategies that are developed by top management is not implemented well resulting in failure. MISSION AND GOAL STATEMENTMission :To inspire our people
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