Wednesday, July 24, 2019
Strategic Management Research Paper Example | Topics and Well Written Essays - 3250 words
Strategic Management - Research Paper Example Internal Analysis X 5.1 SWOT Analysis X 5.1.1 Strength X 5.1.2 Weakness X 5.1.3 Opportunity X 5.1.4 Threat X 5.2 Value Chain Analysis X 6. Problem Definition X 6.1 Primary Problem - Unable to Respond to the Dynamic Market Trends X 6.2 Secondary Problems X 6.2.1 Emerging Preference for Sports Apparel Materials X 6.2.2 Intense Rivalry Among Competitors X 7. Recommendations X 7.1 Develop Alliance with Competitors X 7.2 Participating in Sports Events X 7.3 Expand the Research and Development Function X 8. Selected Recommendation X 9. Implementation X 10. Evaluation and Control X 10. Appendices X 11. Reference List X 1. Executive Summary In this report, the authors have critically analysed Bossini International Holdings LimitedÃ¢â¬â¢s (BIHL)Ã¢â¬â¢s external and internal environment of Hong KongÃ¢â¬â¢s apparel industry. The external analysis highlights the key current environmental factors through PEST Analysis and PorterÃ¢â¬â¢s 5 Forces Analysis. Such external analysis are aimed t o assist the company in remaining relevant and sustainable within the the dynamic external environment. An internal analysis of BIHLÃ¢â¬â¢s internal environment is then performed through SWOT analysis and Value-chain Analysis. The capabilities and shortcomings of BIHL are surfaced consequently. This allows for tailored strategies to suit BIHL in facing challenges within the industry. Subsequently, the key problems are highlighted from the external environment analysis. Through the internal environment analysis, relevant strategies are proposed and selected to counter the problems. The report concludes with the implementation of the selected strategy, featuring issue involved in evaluation and control. 2. Introduction The apparel industry in Hong Kong has flourished during recent times wherein the residents are not only inclined to buy more clothes but more ready spend on more expensive ones. The apparel industry in Hong Kong offers fashion wear, sportswear, casual, kids as well as footwear and footwear accessories. The list of consumers is not limited to the locals; it also includes international buyers and tourists. International brands have also entered into the Asian market by making first entry into the Hong Kong(HK) market. This suggests that HK presents a reliable and stable market to sell both locally and regionally (Euromonitor International 2011b). The overall size of the industry is over HK$53 Billion as of 2011 with more than 12,200 retail stores offering different apparels targeted at market segments. With growth of almost 22% per year, the Apparel industry in Hong Kong is one of the significant and growing industries in the economy (Yi Li & Jones 2001). Bossini International Holdings Limited (BIHL) is one of the leading apparel firms in HK. Established in 1987, BIHL has been an important player for the casual wear market for low and mid ranged consumers. Listed on the HK Stock Exchange in 1993, the firm has been able to achieve dynamic growth an d opened new stores around the world with major presence in regions like Asia, Europe and Middle East. Having near 1400 stores in 36 countries, BIHL has developed into a recognizable international brand. The Ã global presence outlines its drive towards becoming a global brand in the apparel industry (Bossini Enterprises Limited 2012). The overall market appeal of BIHL is based upon its recognizable casual wear that is not only colorful, but also soft in texture. Based on the motto of Ã¢â¬Å"