Group Strategy Term Project Business & Marketing Essay (Essay Sample)
For the strategy term project, you need to analyze the strategy of a public company, Lulu lemon.
Please only write about the 3rd bullet content among all requirements, which I marked red.
Group Strategy Term Project Guidelines:
For the strategy term project, you need to analyze the strategy of a public company, Lulu lemon. You can use the AFI framework at the end of this syllabus as an outline for the term project. The report should contain the following elements:
- Brief company history and synopsis of company, vision, mission and values.
- PESTEL analysis and five forces analysis of a dominant business segment.
- VRIO analysis of its most important resources and capabilities.
- Value chain analysis (primary and support activities) and the type of generic strategy they support (i.e., differentiation, cost leadership, integration).
- Analysis of the firm’s corporate strategy and/ or global strategy as appropriate.
- Organizational design, structure, culture and control and how they do (or do not) align with the elements of the strategy framework (such as mission, vision, values, business and corporate or global strategy, culture, etc.).
Integrate your analyses to provide a final opinion regarding the firm’s future prospects over a two-to-five year horizon (you can use quantitative and qualitative assessment). Does the firm appear to be able to achieve and/ or sustain competitive advantage going forward? Why or why not? What elements of the strategy/ structure relationship do not align and how would you fix them?
Strategy Analysis, Formulation, and Implementation (AFI) Framework:
Strategic management is an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage. Strategy is the set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors.
Performed an external environmental analysis of the:
o Macrolevel environment (PESTEL)
o Industry environment (Porter’s five forces) o Competitive environment
Performed an internal analysis of the firm using RBV/RBT:
o Identified resources, capabilities and competencies • Used VRIO analysis
o Identified value chain primary and support activities Analyzed competitive advantage and firm performance:
o Used financial and market-based measures
o Comparison of firm to competitors, peers, industry average
o Assessment of achieving and sustaining competitive advantage
Provided analysis of firm’s business-level and corporate-level strategies:
o Business strategy
• Differentiation, cost leadership, integration
• Innovation and strategic entrepreneurship
o Corporate strategy
• Vertical integration and diversification
• Potential acquisitions, alliances, networks
o International strategy
• Competing around the world
Explain how to put strategy into action and align strategy/structure relationship:
o Organizational design, structure, culture, control
• Functional, multidivisional, matrix structure
• Control and reward systems
• Strategy/structure relationship
o Corporate governance and business ethics
• Agency theory
• Shared value
In strategic management, you often take the perspective of the CEO or person responsible for the strategy of the organization. You normally use an inductive approach to the analysis. The above is a helpful overview of strategy AFI—analysis, formulation and implementation areas covered in the course used in the practical application of theory.
VRIO Analysis of Lulu Lemon Company
VRIO Analysis of Lulu Lemon Company
Lulu lemon company is the leading Canadian clothing company that deals with athletic attire. Since its establishment, it has grown tremendously and has a promising future. To examine its competitiveness in the market, a VRIO analysis fits in exploring its resources and capabilities. The VRIO version will analyze the company’s’ resources, value, rareness, imitability, and organization.
Lulu Lemon company offers its customers with high quality and authentic products. Customer services and employee-client interaction is top-notch, making them stand out with an excellent distribution network. Their products are quite differentiable and are, therefore, valuable resources to the company (Baalbaki et al., 2019). However, its cost of research, development, and need for innovations is not a useful resource to the company. The financial status of the company is rare since a few major companies in the industry only possess substantial financial support (Varley
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