Strategic Management Plan - PDF
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Added on 2021-02-20
Strategic Management Plan - PDF
Added on 2021-02-20
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Management report : CanG2000 well be strategicallyplanned in the Hong KongFashion Market
Table of ContentsINTRODUCTION...........................................................................................................................1COMPANY OVERVIEW...............................................................................................................1PART A...........................................................................................................................................1PESTEL analysis ........................................................................................................................1SWOT analysis ...........................................................................................................................4Porter's five forces analysis.........................................................................................................6PART B............................................................................................................................................8Ansoff's Matrix............................................................................................................................8Bowman's Strategic Clock........................................................................................................10Recommendation.......................................................................................................................13STRATEGIC MANAGEMENT PLAN .......................................................................................14Strategies...................................................................................................................................14Objectives..................................................................................................................................14Tactics.......................................................................................................................................14Gantt Chart................................................................................................................................16CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................19
INTRODUCTIONBusiness strategies are those guidelines which can be followed by a business to earnmaximum profits. Every business wants to earn maximum profit and every company want toincrease their market share . The business are expanding at a rapid speed and if the business doesnot grow then it won't be able to sustain in the market. In the report there are various analysisdone like PESTLE, SWOT , Porter's Five Forces Analysis and more. The report also includevarious strategies which can help G2000 to expand its business in new market like Ansoff'smatrix which divides the whole market in four segments and Bowman clock strategy. Differentbusiness follows different strategies according to their needs and their future prospectus.COMPANY OVERVIEWG2000 stands for Generation 2000 is an international apparel brand founded by MichaelTien in the year 1980. Headquartered in Hong Kong, the company has over 700 outlets in theentire Asia and Middle East. G2000 has various branches and subsidiaries attached to it likeG2000 man, G2000 woman, G2000 black and At twenty. The company employees thousands ofemployees throughout the world. The company wishes to expand its operations as it would help them in increasing theircustomer base effectively and efficiently. This will also lead to reduction in their overall cost andwould contributes towards their future growth. The organisation is aiming towards obtaining astrategic management approach as it would help them in achieving competitive advantage.PART APESTEL analysis In this section, evaluate the PESTEL analysis of G2000 company which is specialist ofclothing chain distributing of fashionable in women's and men's career wear. The PESTELanalysis is a basic strategic business tool. With the help of this company is able to evaluate,organise, discover and track macro economic factors which may affect to business and strategyin both negative and positive ways (Chang, 2016). Below is evaluated the all factors such aspolitical, economical, technological, environmental, legal and social factors are as follows:Political factor:Political factors play an important and significant role in determining those factors whichcan impact to G2000 company to operate in Hong Kong fashion market. The political factors are
considers with government regulations which has to follow by any business at the time ofbusiness as well as new start ups. Political stability of Hong Kong is stable which is help tocompanies for operates business. It is also trades regulations free agreements which give permitstarting business in Hong Kong main market land (Espinoza and et.al., 2019). This is positiveaspects for G2000 company. But most of the time it gives negative impact by introducing newtrade regulation in market place. Economic factor:Inflation rate, saving rate, foreign exchange rate, economic cycle, economic growth,interest rate are considered in economic factor. Economic factor is also impact to business and itsgrowth factors. This labour cost rises is also affected to business product costs and also tocustomers of G2000 which is not good for growth at Hong Kong market. However, at HongKong market have various benefits like strategic position is more than 90% of GDP (Economicinformation of Hong Kong, 2019). Recently, retail sales is increases by 6.5% which is good forG2000 to operates in Hong Kong fashion market industry. This will help to company to takedecision for start new business in market. Illustration 1: PESTEL analysis ofG2000(Source:PESTEL analysis. 2018)
Social factor:Society culture, tradition, attitudes, eduction level, population growth and age distributionare includes in social factor of PESTEL analysis. This may highly affect to business and itsgrowth factors. The social economy of Hong Kong market is rapidly growing with stronggovernment support as well as a well-established philanthropic culture increase corporatesustainability efforts. Moreover, it is the freest economy in world with free trade and lowtaxation and minimal government intervention which is highly helped to G2000 companyoperates in Hong Kong fashion market with their own traditions. This may also determine bytarget customers purchase rate which is depends on their earning (Gander, 2017). The populationof Hong Kong is earned effective wages against of their work which is potential in positive side.Other had, peoples who are working class want to earn more and save their money for better.However, it can be affect to company in the future.Technological factor:Technological factor is well know component which is affect to business. That is relatedwith research and development, change in technology. Present days advance technology is highlyimpact to the business by increasing competition at marketplace. In order to analysis Hong Kongmarket company uses advance technology and study on big data which is collect by research anddevelopment department. With the help of this, G2000 company is able to analysis and alsoreach towards target customer (Grünig and Kühn, 2015). Other than, company is not use big datathen manager is not understood the requirements of Hong Kong market. This can affect to salesof fashion products in the future. Moreover, company should provide information to theircustomer on online apps with more customer are attracted towards company.Legal factor:Different market and place have different norms and rules or regulations which hasfollowed by companies for better performance in market place. Those aspects may related withcustomers, trade, vendors, competitors, discriminations and employment low. In context toG2000 company to operate in Hong Kong market in this company have first understand theimport and export rules. For example: company purchases raw material form outside. In thatcompany requires legal and proper import and export license which is help to do their workwithout any issues. Otherwise, it can give negative impact on company. Moreover, company
provide detailed information on online apps (Gürel and Tat, 2017). In that they have hide theircustomer details by data and customer protection law. Environmental factor:All markets have their own environmental standard which is impact to the profitability ofan organisation in particular market. Before entering in new market and operates new layout innew market the G2000 have to evaluate environmental standards which is highly required inthose market place. This includes weather, climate change, law regulating, recycling and currenttrends of present market. Weather and climate changes can affect to the business. Like companyG2000 is want to operates in fashion market their company is required to include seasonalproducts and items which is help to increase sales such as winter, summer and spring cloths(Huang and et.al., 2015). The company has to target which is included production of sustainableproducts with the best quality and organic material which is help to company for increase salesas well as long term business.SWOT analysis SWOT analysis is a study which is used by company in order to identify its internalstrength and weakness as well as external opportunities and threats. This will help to companyunderstand those and build strategy for growth in market place. With the help of this, companycan overcomes their weakness by using strengths and opportunities. Evaluation of SWOTanalysis of G2000 company is as follows:Strength:G2000 is well known brand which is sales apparel products to their customers. The company is use best and unique technology for manufacturing products and services.Like Non iron fine cotton garments sipping technology. The company have ability to exploit online shopping has enabled it in order to reachmany customers in different countries and enhanced sales. Online shops are highly helped to business in order to reach target customers. Likefashion market is highly attracted to women mostly (Jin and Cedrola, 2019).The company has give effective quality assurance in their products and items which is thebest strength of company.Most of the customers highly loyal for G2000 company because it is highly specialist inmen and women cloths industry sector.
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