Strategic Plan Part II BUS 475 Christina’s Unique Clothing Store will cater to clientele looking for a shopping experience that cannot be gotten anywhere else. In order for the small business to accomplish this, the owner of Christina’s Unique Clothing Store will need to complete a Strength, Weakness, Opportunity, Threats, and Trends analysis (SWOTT). The SWOTT will allow the owner to view the business from an objective point of view and analysis any problem areas before it becomes an actual problem. Christina’s Unique Clothing Store will conduct an internal and external analysis using the SWOTT table giving explanations or an analysis on seven factors in the table and naming one factor to be considered the major factor for each …show more content…
There will always be that one or two patrons that are looking to save the environment and if the company can look to incorporate environmentally friendly designer clothing and accessories into the business, the business will be leading the future in clothing retail sales. For example, designer blue jeans become a designer purse; a designer silk shirt becomes a new designer pajama top. Reusing material is not a new idea however, creating new items from high-end designer clothing to create environmentally friendlier clothing or recycled designer clothing from the designer is, and if it is made exclusively for Christina’s Unique Clothing Store the company’s future is secured. In conclusion, Christina’s Unique Clothing Store conducted an internal and external analysis using the SWOTT table (Fig 1.1), giving explanations on seven factors and named one factor to be considered as the major focus for each category. The SWOTT identified location and creativity in fashion as the strength and opportunity for Christina’s Unique Clothing Store and identified locating a wholesaler for the merchandise as a weakness, and legal and regulatory issues as a threat while identifying environmental conscience as a trend for the company to focus for the future. As the strengths and weakness are examined it is evident for Christina’s
Aubrey Malphurs is the author of Advanced Strategic Planning and has written over two dozen ministry articles and books. Mr. Malphurs received a PhD in 1981 from Dallas Theological Seminary where he is senior professor of Educational Ministries and leadership and pastoral ministry, he is also the founder and president of the Malphurs Group where he serves as a trainer and consultant to various ministry organizations. Malphurs is a visionary leader committed to the call of equipping and inspiring others in the areas of church planting, leadership development and church growth.
Macy Inc. (M) has a cost structure that can best be viewed using SWOT analysis, which is a way of evaluating the strengths, weaknesses, opportunities, and threats to the corporation. Macy’s strengths include customer loyalty, a recognizable store name, use of technology, a substantial supply chain, its comprehensive size, and the locations of its stores. In total, these strengths enable Macy Inc. to provide a unique service that offers a characteristic their competitors do not have: merchandise tailored to the customer by store and climate zone. Macy’s main weakness is its cost structure: costs are high compared to their competitors due to a complete operational transformation that includes localizing merchandise by
1. Given the SWOT analysis presented in the case, what are IKEA’s key competitive advantages? What strategic focus should the company take as it looks to further expand into the U.S. market?
Her success has recently come in 2011. My plan is to open a second sleep study in San Antonio, Texas. Roxanne will continue to manage the center in Corpus Christ and will help me virtually manage the San Antonio location. Because Roxanne has the information needed to model her sleep center it will be much easier to open up my own sleep evaluation center based on her proposal.
Strategic planning is a critical element of an organization’s annual business plan. A strategic plan consists of a number of components. In addition to analyzing a company’s strengths and weaknesses, a strategic plan also includes implementation and control techniques. While this may seem easy enough, implementing a strategic plan into an organization can be challenging. Barnes and Noble, like a number of corporations are seeking ways to improve productivity and profitability. This essay will identify business alternatives for the bookseller which will enable them to diversify their product offerings.
The industry we have chosen is the department store-retail industry. Within this industry, we have chosen the department stores of JCPenney and Macy’s. We find this industry, as well as these two companies, interesting from a strategic perspective. JCPenney has recently undergone a massive strategic restructuring in regards to its pricing, brand offerings, and store layout, pushing it away from the typical department store strategy of discounts and coupons. Its new strategy has become much closer to Wal-Mart’s strategy of every day low prices. Macy’s, on the other hand, has restructured with a push from the economic
I think that if GE stays the course with innovative, ground breaking technology and development, investing in greener more efficient materials and
This beauty retail store SWOT Analysis includes several strengths and weakness that it has currently developed in its structure. However, there are a few opportunities that this company should take advantage to seize the moment and there are a few threats in which they should find new ways to overcome
success factors. However, the company has a few weaknesses and threats they need to address in
John Lewis is a British department store that operates in the United Kindom and is well known for its ‘Never Knowingly Undersold’ policy that brings quality products to the UK high streets and online shopping. A SWOT analysis is intended to analyse the organisation 's current status and its potential for the future. Morrison (2011, p. 158) states that a “SWOT analysis is a strategic tool used by businesses to assess the organisation 's strengths, weaknesses, opportunities and threats.” Using a SWOT analysis will encompass a detailed evaluation of the organisation for John Lewis, which could be used to benefit the company in the future. As Wetherly & Otter (2008, pp. 24-25) says “The capacity of a business to take advantage of opportunities and resist threats will depend on its internal strengths and weaknesses.” But if John Lewis has the internal strengths to undertake a change a SWOT analysis will help as it was “designed to enable an organisation to take into account internal and external factors that may affect its strategic planning decisions and thus improve its prospects of success” (Harrison, 2014, p. 6).
Within our spa, I will manage the bookkeeping and daily upkeep of the facility. When the business grows, I will hire more assistant managers to help me in the day to day activities. The assistant managers and I will review the product and service trends each quarter to ensure we are operating as should be
Quick response of Zara leads it to be successful in the fashion clothing industry. Zara adopts international strategy for its operation. With vertical integration, it benefits Zara in cost aspect, however, it involves some risks. Due to our anaylysis on Zara’s operations, some of the recommendations are made to facilitate its further improvements.
5. What does a SWOT analysis for Tiffany & Co. reveal about its ability to seize market opportunities and nullify external threats?
With the aid of the internal environment and IFAS (Exhibit 8), we were able to identify strategic factors that could potentially be detrimental to the company’s performance if they were not highlighted. The first strategic factor was the company’s Innovation, Research & Development. For the past decades, Under Armour has been attempting to position itself as a pioneer in apparel performance. This is highlighted by the it’s initial offering of compression shirts, which paved the way for fellow competitors. The company was able to do this because of its strong Research & Development departments, which is shown in exhibit 8.
In the United States, 22-billion new clothing items are bought by Americans every year. Many people buy clothing as new styles are brought in and made popular, and they dispose of their clothes. This is a huge problem as, the fashion industry is the second largest polluting industry in the world, the only industry that creates more pollution is the oil industry. The growing of raw materials, dyeing, manufacturing, shipping, and disposing of clothing all contribute greatly to how big of an impact the fashion makes on our environment. The harmfulness of the fashion industry is largely in part due to the fact that fashion companies and retailers want the most clothes for the cheapest so that they can make the largest profit possible, while ignoring the impacts of doing such.