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(Doc) Tjx Company Case Study

   

Added on  2021-06-10

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Running head: TJX COMPANIES CASE STUDY 1TJX Companies Case StudyStudent's NameInstitutional AffiliationCourse Number: Course NameProfessor's NameDate
(Doc) Tjx Company Case Study_1

TJX COMPANIES CASE STUDY 21.TJX's Strategic Vision and Corporate StrategyTJX Companies have a strategic vision that aims at availing products at a lower retail price in the market. The corporate strategy also focuses on delivering fashionable goods at a relevant price in the market. The strategic vision is supported by the company's flexible business model, which allows the retailer to change goods with a high turnover rate on the inventory. The above enables the TJX Companies to rely upon existing market dimensions. The strategic vision allows the company to quickly and timely change their products to adapt to the ever-changing fashion industry, thus maintaining its consumption scope. The company has had successful sales in international markets. Through the corporate strategy, the company can successfully undertake sales in Canada, Europe and Australia. TJX company strategic vision and corporate strategy have made the organisation maintainits successful growth over four years. The strategy's crucial aspect is working on unique and stiflingly different corporate systems that are typical and not deployed in the retail sector. Thecompany's management maintains its price index, and for a while, the company boasts of price flexibility in regional and international markets, as stated by (Turnipseed 2018). The company also operates on a best-cost pricing model in its corporate strategy. TJX Company gives clients high-end features on all products at an affordable price compared to other full-fledged retailers in the market. The significantly lower price margins attract more consumers leading to fast stock completion. The business model perception created by TJX Company entices consumers to continuously shop at their retail points compared to other outlets with the same products but relatively high prices. 2.TJX's Key Resources and CapabilitiesTJX Companies essential resources and capabilities are reliant on their global market presence and flexible business models. The company's global presence enables them to
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TJX COMPANIES CASE STUDY 3leverage the market dimension despite prevailing market conditions. According to Turnipseed (2018), the company creates a long-lasting buying power that allows them to control the supply chain and distribution services in the market scope. The above will enable them to continuously improve vendor relationships and widen their efficiency to maintain their cost sustainability model. The company's board still focuses on expansion, specifically in the HomeGoods sector, which they term an underpenetrated venture in the United States. The above indicates that the VRN analysis tool will foster market flexibility, long-term sustainability, and a comprehensive global presence scope. The company's global market expansion model is expensive, indicating that imitating the scope might derail other organisational incentives. The above uniqueness makes the company growth goals quite imitable. The growth shows the company has capabilities to expound their growth modules and focus on external markets in the United States and abroad. The company has opened its 4000th stall, indicating that it has the ability to concentrate on success abroad and in the United States. The company has the capacity to open over 200 and maintain the existing stores, specifically in the HomeGoods ventures. The company is strategically positioned to tackle competitors. TJX Company has the best cost-strategy that allows cross-sectional market penetration. The above considers that there are substitute consumers who prefer high-priced items to low-cost items, leading to consumerpreference. The cost strategy enables the company to be centrally positioned for any attack from low-cost consumer dropout or high-cost consumers. High-end competitors might slash prices while keeping the same features and benefits to attract the intended consumer scope. The above might lead to a mixed-up interruption on the set strategy and force them in cost cutting war with TJX Company, which is well established.
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