Business Environment
Executive Summary
This report highlights the effect of external factors in the context of Kogan Ltd. It has been received that this retail organization in Australia has been facing challenges due to poor management of stakeholders. The high bargaining power of buyers and suppliers, changing the policy of the government, and competition from the rivals are the major impacts of the external environment. By implementing strategic management theory this organization will be able to deal with the stakeholder issues. Moreover, compliance with the government policy is necessary to reduce the legal challenges. In order to implement a strategy, it is important to analyze the external stakeholders that may impact the business performance.
Introduction
The external atmosphere plays a big role in influencing the performance of a corporation. Today, globalization could be a huge term that creates changes within the environmental factors during which a business is working (Kenny, 2012). However, the neutral is a crucial environmental issue of each business trade that includes a nice result on business operation. at the present neutral issue is the rising challenge of the latest organizations that have an effect on the business flow of such organizations. Kogan could be a common retail organization in Australia. it’s spread of companies race natural philosophy er merchandise, groceries, and attire and homeware merchandise (Kogan.com, 2019). Nowadays, this company has been facing challenges in managing its stakeholder’s thanks to poor strategic management. dynamic demand and completely different viewpoints of the stakeholders have an effect on the expansion of this organization. The management of this organization has didn’t manage its matrix structure thanks to neutral issue Grammar Check
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Business Strategy A Case Study Of Primark
Introduction
In this research, the researcher has incorporated with the various discussions related to the strategic management of an organization. Here, this can be stated that an organization has to face several challenges that are prevailing within the market. The market is highly competitive in nature and hence every company are focusing much on developing the marketing strategies that would enable them to cope up with the competition.
In this assignment, the researcher has considered the marketing strategy of the Primark. It is an organization, which deals with the trending fashion of both men and women. It is an Irish company having it’s headquarter in Dublin, Ireland. The company successfully operates in Belgium, France, UK, US, Austria, Ireland, etc. the company is now developing plans to introduce its products in India. As they are the new entrants in the market, they have to develop a well-defined marketing strategy.
This is a solution of Business Strategy A Case Study Of Primark in which we discuss Business Strategy.
Introduction
In this research, the researcher has incorporated with the various discussions related to the strategic management of an organization. Here, this can be stated that an organization has to face several challenges that are prevailing within the market. The market is highly competitive in nature and hence every company are focusing much on developing the marketing strategies that would enable them to cope up with the competition.
In this assignment, the researcher has considered the marketing strategy of the Primark. It is an organization, which deals with the trending fashion of both men and women. It is an Irish company having it’s headquarter in Dublin, Ireland. More Know About:- Computer Software Assignment Help
The company successfully operates in Belgium, France, UK, US, Austria, Ireland, etc. the company is now developing plans to introduce its products in India. As they are the new entrants in the market, they have to develop a well-defined marketing strategy.
Mission, vision, goals, objectives and core competencies of the company
In this section, the Mission, vision, goals, objectives and core competencies of Primark will be briefly discussed:
Mission of Primark
To serve their ordinary folks with the opportunity to purchase the products as rich people but at low prices.
Vision
- To be the first choice of the customers
- Grab the opportunity to be the market leader
- Proper training to the employees
- To operate being customer centric
Goals and objectives
- Offer customers with low price products
- New innovated products
- To be the first choice of the customers
- Make strong marketing strategies to be the market leader
- Operate sustainably
Core competencies
Develop strategies that would help them to be the market leader and to pose high competition in the market. The competitors are mainly Pantaloons, Zara and H&M (Alexis, 2012, p.67).
Factors contributing strategic planning
There are certain factors that contribute to the strategic planning of the organization named, Primark. According to Sadler (2003), it can be stated that strategic planning is considered to be the stepwise and systematic process to develop the strategy for an organization (Bravo, 2010, p.65). It was further mentioned, that there are three issues that contributes to the strategic planning which are mainly the detachment from reality, lack of ownership and dampening of innovations.
Figure 1: Issues in strategic planning
(Source: Created by Author)
It is very essential to overcome the issues and to make suitable plans that would develop brand image of the organization. Five major factors contribute to the development of strategic planning are mainly the Engagement, Innovation, Culture, Communication and Project Management. The development in these factors would help in better strategic planning for Primark.
Figure 2: Factors contributing to strategic planning
(Source: Created by Author)
Effectiveness of techniques used for strategic planning
There are certain techniques that would help the management to develop a well- defined marketing strategies. For instance, the command planning is only applicable for small business, which has a stable environment (Cohen, 2011, p.61).Read More About:- Computer Systems Development Assignment Help
On the other hand, another technique that would help in strategic planning is the directive planning is only applicable for the large organizations having stable environment. In addition, the top- level management is highly involved in this planning.
The third techniques are the emergent strategy planning. The Primark mainly makes the use of the emergent strategy planning, as it is only applicable for complex organizational environment and mostly performed by expert teams or corporate strategic department.
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