Louis Vuitton Case Study. Management Case Study Paper

Louis Vuitton Case Study
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Louis Vuitton Case Study
Question 3
Since Louis Vuitton was established in 1854, it remained at the top of the transportation industry. In particular, the company has undergone numerous transformations and product diversification. LV started its operations in the transportation sector before venturing into the leather and fashion, jewelry and watches, spirits and wines, and cosmetics and perfumes (Case 24). The success of the LV did not occur automatically without the company overcoming various challenges, some of which continue to affect the company today.
In chapter two, it is clear that organizations cannot primarily focus on the efficiency of internal operations without paying attention to what is happening in the external environment. For this reason, any organization that wants to retain its competitive advantage must scan and monitor its operating environment so that it can react to upcoming changes accordingly. Environmental intelligence, monitoring, and scanning are the three essential components of a successful forecast (Dess, Lumpkin, Eisner, & McNamara, 2012). If LV observes these aspects, it would be in a proactive mode, where it can predict and detect any change and react appropriately.
Specifically, the primary challenges facing LV include high competition, changes in consumer buying patterns, and changing demographics. The primary customer segments of the company, namely accessible, absolute, and aspirational, might not gain LV a competitive ...