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Sample Assignment on Strategic Management Portfolio

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Sample Assignment on Strategic Management Portfolio

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  1. Strategic Management Portfolio TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  2. TABLE OF CONTENTS INTRODUCTION...........................................................................................................................1 1. Organization introduction ..................................................................................................1 2. Strategies in market positioning ........................................................................................2 3. Success criteria ..................................................................................................................2 4. Strategic issues ..................................................................................................................3 5. Strategies used to attract target customers .........................................................................5 6. Target customers ...............................................................................................................5 7. Recognize as a brand .........................................................................................................7 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................9 TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  3. INTRODUCTION The term strategic management portfolio is a decision making and analysis process regarding with making of planned choices and investments for a business. The aim of this process is to determine the strategies and investment priorities for the business or product portfolio of an organization (Hill and Schilling, 2014). The present report will help to understand the concept of strategic management portfolio. In this context, two companies namely; John Lewis and H&M are considered. Further, this report will help to understand strategic choices and its impact on both companies. This report also includes the concept about strategies which are used by them in market positioning to attract target customers of UK and international market. 1. Organization introduction Both John Lewis and H&M organizations come under retail industry. Vision, mission and objectives of both companies are described below: John Lewis- It is a department store which is a chain of supermarket operating in the Great Britain.  Vision- To lead the market by enhancing the firm's position.  Mission- Fulfils the need of target customers for the happiness of customers  Objective- To provide better services, quality products and values to the customers and for this purpose firm has made a unique promise “Never knowingly undersold” to target customers (The John Lewis effect, 2015). H&M- It is a multinational Swedish retail clothing company which is famous for fast fashion clothing for person of every age.  Vision- Business operations should run in a sustainable way so that they can fulfil need of both present and future generation individuals.  Mission- To increase the number of stores per year by 10-15% and in the same time in comparable units as well.  Objective- To provide both quality and fashion at the best price to target customers. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  4. 2. Strategies in market positioning For the market positioning in domestic UK market and international market, both companies uses different market positioning strategies which are described below: John Lewis To run the business practices efficiently, John Lewis used partnership approach in their strategies. In this approach, cited firm's employees are known as partners not the shareholders and these partners also own the business of John Lewis. To meet the objectives, company has use the price matching policy in their market positioning strategy without setting the low prices. For positioning the brand name at the forefront of target customer's mind and to build loyalty, cited firm has also uses the emotional branding (Klingebiel and Rammer, 2014.). The purpose of this strategy is to create touching connection with the target customers because this is about putting the customers and their needs first in the priority. The firm’s strategy also includes targeting the high class customers and earners by offering them best quality of products. H&M Cited firm has used the product characteristics and pricing as a market positioning strategy. Firm has promised to its target customers to provide new designer clothes in market with the best price. Basic concept of their business is the fashion and quality of clothes at the best price. With the help of this concept, cited firm is able to attract customers at both domestic and international market. To maintain their promise, H&M has special team of designers. They collect fashion designs from different fashion shows and patterns from different country's culture. The firm always tries to create a good balance among fashion, cloth quality and best price (Hitt, Ireland and Hoskisson, 2012). To fulfil the need of customers, H&M creates products for men, women, kids and teenagers according to their taste and styles. 3. Success criteria With the help of market positioning strategies, both companies are able to increase their size of customers. They are also able to attract more customers towards their products. Success criteria of John Lewis By implementing the strategy, cited firm is maintaining their promise that customers will not find quality products with better price elsewhere. To attract the customers, company is TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  5. THIS IS A SAMPLE ASSIGNMENT BUY PLAGIARISM FREE ASSIGNMENT TO SCORE A+ GRADES CONTACT NOW: TOLL-FREE NO: +61 879057034 WHATSAPP NO: +61 424715655 EMAIL: help@assignmentprime.com WEBSITE: https://www.assignmentprime.com TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  6. providing full high quality products to their customers. With the help of partnership strategy, the annual bonus which is based on the enterprise’s performance is calculated in the form of percentage by using employee’s wages. John Lewis always tries to satisfy their employees and this strategy lead the cited firm as an outstanding retailer. It is also awarded as a “First clothing retailer, 2015”. To build the positive feeling in target customers, this company offers their products through creative advertising method. With the help of this medium, firm create excitement in their customers to speak about the advertisement and product (Eden and Ackermann, 2013). Success criteria of H&M Basically, H&M is attracted by the modern youngsters and cost conscious customers because company is offering them new, fashionable and designer clothes in good quality with best prices. With the help of positioning strategies, H&M is able to influence more customers towards their product. Through this strategy, they become 21st best clothing retailer across the worldwide. With the environmental concern, H&M is continuously working to make their products better in quality. For this purpose, Company manufactures their products in good working condition with the less impact on the environment. To meet the demand and requirements of customers, firm produces variety of clothes with attractive designs and patterns. In the context of fashion, they are inspired from the latest trends to sustainable classics through this customers can wear clothes season after season. In the success criteria of H&M, differentiation method helps the cited firm to separate them from the competitors. In this context, company utilizes natural resources, offers recycling option of garments and reducing the energy consumption in stores. With the increment in sales, company also increases number of their stores in various locations (Killen and et.al., 2012). 4. Strategic issues To analyse the impact of various external factors such as country's economy, law and culture. on the company, the strategic tool which is known as PESTLE analysis is implemented. PESTLE analysis of both John Lewis and H&M are described below:  Political- These factors include government policies and regulation. Company has to focus and follow the rules, regulations and policies of government in which they are TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  7. operating their business. For example, if government of UK decides to lower the corporation tax then, it would be beneficial for John Lewis to increase their profits in future.  Economic- Changes in rates like inflation, interest rates and costs like energy and labour cost will also affect the business operation and practices of company.At the time of recession, spending of customers also decreases. In this situation, customers will not prefer to spend their money on the clothes. This situation will also influence both companies that their prices of products have to be driven down. The financial crisis of European Union also has a impact on the global market (PEST Analysis of John Lewis, 2015).  Social- The changes in lifestyle, trends, fashion and buying behaviour of customers gives a huge impact on both companies. To please the customers by meeting their demand, companies have to adopt the changes of social factors to run the business effectively. By adopting the changes, both firms will be able to attract more customers towards their products. To improve the customer satisfaction level, both firm have to provide better quality product in more fashionable way (Vrande, 2013).  Technology- Both companies have to adopt new innovations in the technology because with the updated technology, both firms will be able to attract customers towards the company. For example, in the present time e-commerce and internet shopping is a current trend for retail industry because it directly influence customers towards sales approach. The advancement in technology mostly encourage customers to purchase the products online through online outlets. With the help of technology, both companies can improve their deigns like 3D printing etc.  Legal- Both John Lewis and H&M have to follow all laws to run the business practices legally. In present time the national legislation becomes more stiffen for the health and safety in respect to both employees and customers.  Environmental- This factor includes weather, pollution, ethical ad wastage issues and for this purpose both companies have to do CSR activities for environmental concern. In production process, renewable sources of resources like cotton and wool are used because TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  8. they are environmental friendly. Both companies can reduce the energy consumption and carbon footprints. The changes in environmental factors may lead to the scarcity of natural resources which are used in production (Fernhaber and Patel, 2012). 5. Strategies used to attract target customers H&M is offering standardised clothing line products, so, customers are familiar and aware about the various range of quality products. To increase the market share and also to attract more customers, cited firm increase the number of physical stores. In the retail industry H&M faces huge competition and they are also offering the common products, so, in terms of product quality the differentiation was not considerable. For this purpose, cited firm focuses on both quality and price. In this context, firm attracts the customers by balancing the fashion trends, design, quality and prices. To meet the current trends of fashion, cited company introduces their new products in every two or three weeks. To increase the awareness among customers about the company's product, H&M penetrates in social media like Instagram and Facebook. With this cited firm performs a significant interaction with customers. To increase the awareness and encourage the customers about recycling of clothes, cited firm rolled out the program at all physical store in 2013. In this program they offer the facility to their customers in which they can bring their old garments in any condition and in return they get the voucher of money (Turker, 2014). On the other side, John Lewis offers better services and quality products to the customers and for this purpose firm has made a unique promise “Never knowingly undersold” to their customers. The company's proposition is based on the trust that company will not compromise in the both product quality and services. Through this company's promise and product quality, many customers are converted in loyal customers. For promoting the product, company also uses compelling and emotional advertisements to gain the customers attention. Fro example, in one advertisement a girl from 1925 with a modern man sharing the split screen by conveying the message that important things of life never changes with the time and it stays same as yesterday. With the help of this type of creative aids, customers also eagerly wait for the next company's aid (Brand positioning- Standing out from the crowd, 2011). Through various new aids, John Lewis convey the message which related to their promise which is never knowingly undersold. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  9. Company never promotes the controversial promotional aids which creates any type of issue among customers. The cited firm knows very well that how to tap the mind and heart of the customers towards the company's product and services 6. Target customers The target customers of both John Lewis and H&M are described below: Target customers of John Lewis The target customers of John Lewis are basically from the upper class and high earners. To meet the demands and requirements of target customers, cited firm produces unique designer clothes in best quality and also provides best services for the convenience of customers. To attract the more customers towards the product, cited firm also provides special offers like gift cards or vouchers. The company's target customers are high earners and they don not compromise with the style and fabrics of the clothes. For this purpose, company always try best to maintain their clothes quality so, their loyal customers do not switch to the other brands or competitors who care also selling the same products in market. The target customers of cited firm are kids, men and women in clothes products. Target customers of H&M The middle class customers are the basic customers of the company because cited firm provides good quality cloth products in affordable prices. The main customer of cited firm are more trendy and fashionable and they look shopping as a social activity. Through this shopping activity of company's product they feel pleasure in their daily life. The cited firm also proves to be producing the products which matches the current fashion trends and patterns in the best prices. With the help of this differentiation, cited is able to create a big brand name and also able to attract more customers towards their clothes. The company uses the unique selling proposition to compete their competitors. Through the company uniqueness, more customers are satisfied with their new design patterns in clothes (Wüstenhagen, 2012). Cited firm offers variety of product ranges for the broad range of target customers which helps company to increase their productivity and profits. The customers of H&M are cost concious but more fashionable and they want to follow current fashion trends without investing or spending lot of money in garments, so, TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  10. they prefer cited firm as a first choice because they get best quality products in their budget. Cited firm produces products for men, women, teenagers and kids. Basics John Lewis H&M Price The prices of products are Prices are low as compare to according to the quality of the John Lewis. products. Product Both companies provide best quality products with the current trends to the target customers. But H&M launches new clothes stuff in every two or three weeks. Place Both companies uses both physical and online outlets to sell their products (Martínez and et.al., 2015). Promotion To promote the customers, Company uses the social cited firm uses the emotional media like Facebook and advertisement method to gain Instagram to build a strong the attention of target connection with their customers. customers. Customers The target customers of John The target customers of H&M Lewis are high class and high are cost conscious and middle earners. class customers. 7. Recognize as a brand The first store of John Lewis was opened in mid 1864. The company slogan “Never knowingly undersold” is in use since the 1925. Year by year company increases their customer size and also enhance their stores throughout the UK and across the world. The research and innovations in fashion design of clothes attract many loyal and high class customers such as Elizabeth ll (John Lewis Marketing Plan, 2012). In 2011, H&M was the first company who sis a contract relates with fire and building safety in their international market of Bangladesh. In order to convince the company's partner to provide the best working conditions for the employees, cited firm initiated a project in TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  11. Bangladesh and named it “social dialogue project”. With the help of all strategies which are mentioned above are key points to make the company successful. CONCLUSION With the help of this it is evaluated that strategic management portfolio plays a important role in the company. The process of strategic management portfolio helps to determine both strategies and investment priorities for the business operations and product portfolio of an organization. In this report strategic choices of two companies such as John Lewis and H&M are described. Further this report includes the issues which affects the business practices of both company. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  12. REFERENCES Books and Journals Hill, C. and Schilling, M., 2014. Strategic management: theory: an integrated approach. Cengage Learning. Hitt, M., Ireland, R.D. and Hoskisson, R., 2012. Strategic management cases: competitiveness and globalization. Cengage Learning. Klingebiel, R. and Rammer, C., 2014. Resource allocation strategy for innovation portfolio management. Strategic Management Journal. 35(2). pp.246-268. Eden, C. and Ackermann, F., 2013. Making strategy: The journey of strategic management. Sage. Killen, C.P. and et.al., 2012. Advancing project and portfolio management research: Applying strategic management theories. International Journal of Project Management.30(5). pp.525-538. Vrande, V., 2013. Balancing your technology sourcing portfolio: How sourcing mode diversity ‐ enhances innovative performance. Strategic Management Journal.34(5). pp.610-621. Fernhaber, S.A. and Patel, P.C., 2012. How do young firms manage product portfolio complexity? The role of absorptive capacity and ambidexterity. Strategic Management Journal. 33(13). pp.1516-1539. Wüstenhagen, R. and Menichetti, E., 2012. Strategic choices for renewable energy investment: Conceptual framework and opportunities for further research. Energy Policy.40. pp.1-10. Turker, D. and Altuntas, C., 2014. Sustainable supply chain management in the fast fashion industry: An analysis of corporate reports. European Management Journal.32(5). pp.837-849. Martínez, S. and et.al., 2015. Clothing Industry: Main Challenges in the Supply Chain Management of Value Brand Retailers. In Enhancing Synergies in a Collaborative Environment. Springer International Publishing. pp. 69-76. Online Brand positioning- Standing out from the crowd, 2011. [Online]. Available through:<http://www.thestrategydistillery.com/news/strategy-news/brand-positioning-standing- out-from-the-crowd/>. [Accessed on 27th January 2016]. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  13. John Lewis Marketing Plan, 2012. [Online]. Available through:<http://research- methodology.net/john-lewis-marketing-plan/>. [Accessed on 27th January 2016]. PEST Analysis of John Lewis, 2015. [Online]. Available through: <http://www.businessteacher.org.uk/guides/business/pestle/pest-john-lewis.php>. [Accessed on 27th January 2016]. The John Lewis effect, 2015. [Online]. Available through:<http://www.accaglobal.com/uk/en/discover/cpd-articles/business-management/john- lewis.html>. [Accessed on 27th January 2016]. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

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