Question

imagine yourself a retail industry-

-Explain your company's mission statement, vision statement and values in detail.

-Explain what resources and capabilities your company has and define your competitive advantage in detail.

-Give a thorough SWOT analysis of your company.

-Explain which competitive strategy you will be using for your company.

1000 words

Answer 1

Ask any retailer why they are in business and if they give you any answer beyond to make a profit, they know something of strategic thinking and having a deeper organisational purpose.

It goes without saying that profitability and sustainability are key business objectives, yet some businesses define themselves otherwise. They consider profitability a by-product of meaningful business and in doing so make a contribution to society in addition to making to money.

Executive Summary

A one- to three-page synopsis of the plan providing highlights of the current situation, objectives, strategies, principal actions programs, and financial expectations.

II. Company Mission

The mission of a company is the unique purpose that sets it apart from other companies of its type and identifies the scope of its operations. The mission describes the company’s product, market, and technological areas of emphasis in a way that reflects the values and priorities of the strategic decision makers.

A. Define the core business

1. Basic product or service

2. Primary market

3. Principal technology for production or delivery

III. Company Profile

The company profile depicts the quantity and quality of the company’s financial, human, and physical resources. It also assesses the strengths and weaknesses of the company’s management and organizational structure. Finally, it contrasts the company’s past successes and traditional concerns with the company’s current capabilities in an attempt to identify the company’s future capabilities.

A. SWOT Analysis - Company Situation Analysis - SWOT Analysis Checklist

1. Internal Strengths and Weaknesses

a. Marketing

b. Financial and Accounting

(1) Ratio analysis – Ratios & Comparative Ratios

(2) Sources and uses of funds

c. Production, Operations, Technical

d. Human Resources

e. Quality Management

f. Information Systems

g. Organization and General Management

2. External Opportunities

a. Serve additional customer groups or expand into new markets or segments

b. Expand product line

c. Transfer skills to new products or businesses

d. Integration

(1) Forward

(2) Backward

e. Foreign markets

f. Emerging new technologies

3. External Threats

a. Low barriers to entry

b. Availability of substitute products or services

c. Slower market growth

d. Costly regulatory requirements

e. Growing bargaining power of customers or supplies

f. Changing buyer needs and tastes

C. Current Competitive Position

a. Signs of Strengths and Weaknesses in a Company’s Competitive Position

b. Company Situation Analysis Competitive Strength Assessment

1. Comparison with past performance

2. Stage of industry evolution. New product introduction. Growth surge due to popularity of product. Industry is technologically declining.

3. Comparison with competition. Saturated competition due to low barriers. Categorizing the Objectives and Strategies of Competitors

4. Comparison with success factors in the industry. Many large IP's have become successful on the Internet. Few have failed. Types of Key Success Factors

Examples of Competitive Advantage

1. Access to natural resources that are restricted from competitors
2. Highly skilled labor
3. A unique geographic location
4. Access to new or proprietary technology
5. Ability to manufacture products at the lowest cost
6. Brand image recognition

Constructing a Competitive Advantage

Before a competitive advantage can be established, it is important to know the:

1. Benefit: A company must be clear what benefit(s) their product or service provides. It must offer real value and generate interest.
2. Target Market: A company must establish who is purchasing from the company and how it can cater to its target market.
3. Competitors: It is important for a company to understand other competitors in the competitive landscape.

To construct a competitive advantage, a company must be able to detail the benefit that they provide to their target market in ways that other competitors cannot.