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Strategic Management Essay : Apparel Group

   

Added on  2020-07-22

17 Pages5089 Words83 Views
STRATEGIC MANAGEMENT:STRATEGIC PLAN

TABLE OF CONTENTSINTRODUCTION................................................................................................................................11. Mission, vision goals and objective statements ................................................................12. Environment analysis.........................................................................................................23.Capability Analysis...............................................................................................................5REFERENCES...................................................................................................................................11

INTRODUCTIONStrategic management and administration are considered as a set of administrative instrumentsand approaches that are used by organization to manage challenges and also reduces impact of politicalchanges within organization. Many organizations and entrepreneurs have considered this task asimportant for resolution of various challenges and analysing different aspects of strategic planning(Bryson, Berry and Yang, 2010). In this context, analysis of Apparel group is taken in to considerationwhich is major retails brand in UAE which has a major link with various stakeholders like manufacturers,designer, distributor, marketer and former retailer based in Los Angeles. Overview of apparel group hasstated that it is clothing company which has been its operations in retail industry and achieved majorgrowth in business by enhancing the business in other parts of world. The main purpose of theorganization is to maximize profits. The major challenges which are faced by organization in this sectorwas considered as rise in competition, continuous fluctuation in prices and demand of products andfluctuation in currency exchange rates. Various aspects of strategic planning have been taken in to consideration in order to determine thepolicies of organization to face the strategic challenges in business operations. Apart from this, firm’ssituation analysis is done in which the internal and external environment of company is evaluated withthe PESTLE analysis. Moreover, vision, mission, goals and objectives are also analysed which helps inanalysing the ways through which the firm will able to develop strategic plans and actions.1. Mission, vision goals and objective statements In competitive business environment, every organization has to develop some specific vision,mission and objectives through which it will able to achieve success in business operations (Steiner,2010). In this context, various aspects strategic planning has been discussed in order to analyse businessvision, mission and objectives of firms that supports them in achievement of growth in businessoperations. In this, we have done the critical analysis of the existing mission, vision and objectives ofApparel group.Vision:As per the critical analysis, It is most significant statement that clearly defines the desiredstrategic position of firms that it wants to achieve in the future (Grant, 2016). Analysis of apparel grouphas provided an understanding that it has vision “to develop a truly global brand that provides variousgrowth opportunities for the organization and its workforce as well as achieving its objectives ofbecoming the most preferred fashion retailer brand across the Middle East & India.” These statements1

will provide supports to Apparel group for development of strategies or taking corrective actions toexpand the company position.Mission: From the critical analysis, It is also action statement of company that clearly definesexpectations of firm that it wants to achieve in short duration. Apparel has continued its businessoperations with mission of “being a market leader in the field of value retailing. It also aims at providingmore fashionable products at affordable and competitive prices and being an innovative, cost effectiveand globally competitive organization”. Moreover, they also need to achieve of customer’s expectationsand encouraging employee satisfaction by providing opportunities of growth and development for keyperformers. These statements will provide supports to Apparel group for development of strategies ortaking corrective actions to expand the company position.Objectives:Introduction of more unique and fashionable products as per the preference of customers. Increasing the market share by the 20% in every 6 months.Continuous improvement of the client's experience of shopping. Providing knowledge and increasing the skills of staff through training and development. Encouraging openness in the work culture within enterpriseThus, it can be said that the Apparel group has developed an effective business aims throughwhich it will able to achieve it desired vision and mission in the future. It will also be able to developeffective strategies to achieve success in business operations.2. Environment analysisAs per the given scenario, it is essential for the company to analyse its external environment ofcountry in order to analyse the influence of factors on business operations (Freeman, 2010). There someimportant factors which affects the business operations are determined below:PESTLE analysis Political: These are considered as major important policies and rules which are developed bygovernment which affects the business operations of enterprise (Hitt, Ireland and Hoskisson,2012). In order to regulate business operation in retail industry, the organization like apparelgroup needs to analyse all the factors like political stability, effective employment conditions,taxation policies and environmental laws etc. these are considered major issues which providesnegative impact on business operation of organization, therefore, the organization needs to2

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