Vocational Scenario Submission Format Activity A
Businesses do not exist in isolation. They exist and operate in a complex macro environment of a country. In some industries, for example fashion, intense competition exists among designers, manufacturers, and retailers.Marketing Research and Data Analysis Traditionally, the fashion industry has a distinctive structure and capabilities that shape the nature of competition in a competitive business environment.
You have been recruited as a management trainee/intern by a UK based management consultancy firm. As part of training, your task is to produce a situational analysis and strategic management plan for one of the firm’s established clients (choose a fashion company of your choice, your own place of work if you work in a fashion company).
Submission Format Activity A
The client company is keen to expand its business in another territory within UK. For activity A, you have been asked to produce a situational analysis report of your chosen fashion company, which should include the following: (word count 1500 words)
A brief background of the client organization, its mission, vision, and objectives.
A detailed critical PESTLE and SWOT analysis of the organization you have chosen.
Evaluation and interpretation of the organization’s resources and capabilities (including structure
and skills). Use McKinsey 7s strategic model/framework.
Identification and assessment of existing and/or potential competitive advantage based on organization’s resources and capabilities. Use VRIO or VIRIN framework/analysis.
Vocational scenario and assignment activity (B)
The fashion industry is a highly fragmented sector. Strategic management plan focuses on how firms compete through the integration and application of most appropriate strategic tools, options, and directions to achieve competitive advantage and drive the firm to achieve goals/objectives from the chosen market.
In the context of situational analysis outcomes, you are now required to develop and produce a strategic management plan for your chosen organisation. You are required to undertake and consider the most appropriate strategic options and directions for the chosen organization to expand into a new territory and remain competitive and achieve goals/objectives in that market.
The strategic management plan should include the following:
Wite executive summary
Use Porter’s generic model to analyse the selected market for your chosen
organization.
Develop the strategic objectives based on your market analysis for organizational future strategic direction. You need to include tangible and tactical objectives in your plan.
Justify the importance of Strategic Management Plan (SMP) for your organisation and apply different models or concepts to interpret the importance of SMP for your chosen organisation.
Critically evaluate and justify the most appropriate growth model that aligns with the client organization’s objectives.
Critically evaluate of internal and external data regarding your chosen organisation to ensure the successful strategic alignment.
Recommend the suitable strategies to ensure competitive advantage over others and your position in the market. Here you need to provide recommendation for your chosen organisation based on your strategic management plan.
Submission Format Activity B
The submission format is in the form of a business strategy plan Report. The report should be written in a concise style. All work must be supported with research and referenced using the Harvard referencing system. You will also need to provide a bibliography using the Harvard referencing system. Inaccurate use of referencing may lead to issues of plagiarism if not applied correctly.