Strategic Management Assignment Solution (GC0363)
Table of Contents
Introduction.
Task 1: Planning, strategy development, and measurement are important aspects in achieving any corporate or business goals.
1.1 Identify the business plan and strategy used by Lululemon and evaluate its relevance to its vision and mission statements in light of the current issues faced.
What is business plan?.
What is the business strategy?.
Importance of strategic planning.
Identify the business plan and strategies used by Lululemon.
Evaluate the relevance of strategies used by Lululemon to its vision and mission statements focusing on the current issues faced.
1.2 Identify Lululemon’s goals and value process and business objectives and evaluate how the current issue impacts theses and the business.
Goals and values.
Goals and Values process of Lululemon with reference to ethical, cultural, environmental, social, and business objectives.
How current issues impact Lululemon’s goals and values process.
1.3 Evaluate efficiencies in resource allocation in relation to current organizational objectives, strategies, and goals.
Business resources to meet organizational objectives.
Tools and techniques to monitor and evaluate business resources.
Efficiency of resource utilisation in Lululemon.
Task 2: Strategic analysis of Lululemon business.
Microenvironment analysis.
Porter’s Five Forces Model
Macro environment analysis.
PESTLE Analysis. 1
PESTLE Analysis for Lululemon.
SWOT analysis.
SWOT Analysis for Lululemon.
Stakeholders Analysis for Lululemon.
Major changes taking place in the macro and microenvironment
Importance of stakeholder relations.
Impact of current issues on stakeholder relations and business plans.
Task 3: Sustainability and risks management
Roles of risks management in Lululemon’s business.
How risk measurement and management can help Lululemon’s business.
Analysis of the risk facing Lululemon and future challenges.
Impact of risks identified on Lululemon business.
Techniques for risk recording and monitoring.
Strategies and techniques to mitigate identified risks for Lululemon business.
Task 4 Strategic Financial Management
- A) Financial performance and the position of the company.
Interpretation of financial ratios.
Comparing the ratios of 2008 with ratios of 2007 and discussing the reasons for variations.
Financial position and Lululemon’s business performance.
Recommendation for the Lululemon.
- B) Investment appraisal approaches and their evaluations.
The financial aspect of investment appraisals.
Strategic aspects for investment appraisals.
Available investment appraisal techniques for Lululemon with their strengths and weaknesses
Accounting rate of return (ARR).
The weakness of ARR.
Payback period.
Net present value (NPV).
Internal Rate of Return (IRR).
- C) Cost concept to management decision making.
Importance of costs in pricing strategies.
Cost-volume profit analysis.
Finding the Break-even point (BEP).
Interpretation of findings using appropriate theories.
The margin of safety.
Conclusion.
Reference.
Introduction
This report is conducted based on a number of issues. Firstly, it focuses on the nature and context of strategic management and organizational strategies. Secondly, the report explains the tools and techniques for evaluating different factors including internal and external environment which impact business activities. Thirdly, the report concentrates on how to manage potential risks identified by a particular organization. Finally, the report highlights the financial ratios to evaluate business and performance, investment appraisal methods, and cost-volume-profit analysis.
Task 1: Planning, strategy development, and measurement are important aspects in achieving any corporate or business goals.
1.1 Identify the business plan and strategy used by Lululemon and evaluate its relevance to its vision and mission statements in light of the current issues faced.
What is a business plan?
A business plan refers to the formal statement of business goals and objectives which are attainable and reachable. The business plan also may include background information of business organizations and/or workforce aiming to achieve those business goals and objectives. In addition, Business plans can target changes recommended by consumers and other stakeholders regarding business perceptions as well as branding. In case of major changes or planning new business ventures, organizations need to take three to five years of a business plan, which will be followed by the investors looking forward to their annual return (Bandlamudi, 2013).
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What is a business strategy?
Business strategies are something that is used to respond to challenges of a dynamic and hostile environment to meet and pursue their vision and mission. Strategies are interconnected to business goals and objectives aiming to achieve them. Business strategies also refer to the management game plans to point out a market position, promote consumers, accomplish business operations, survive successfully in a competitive market, and gain organizational objectives and goals. Business strategies also refer to business competitive moves and business approaches that are employed by managers to promote consumers, to compete in the marketplace, and to gain organizational goals and objectives. In a word, business strategies are a long-term blueprint of the company’s desired direction, image, and destination aiming where it wants to go, what it wants to do, and wants to be (Bandlamudi, 2013).
According to Ansoff (1988), business strategies refer to the thread in organization activities and market which determine the business nature of planning for the future. As Glueck (2002) notes, strategies are unified, integrated, and comprehensive plans which are designed to make sure business goals and objectives to be achieved.
Importance of strategic planning
According to Lawlor (2013), strategic planning the foundation of any business where business activities are connected and aligned. There are key components of successful strategic planning and implementation. First, a simple and clear vision and direction have to be created because business strategies can be complicated and close to the market, front line, and customers. Second, strategic planning must have a good plan with well-thought-out and expected challenges and have to be created with input from different sources inside and outside the business. Third, the plan must be executed following the commitment from top-level management. In this case, the commitment has to be explained in detail with accountability, communication, behavior, and investment. The plan as a living document also has to follow the culture and expected environmental changes. Fourth, the plans have to be communicated effectively using several mediums and with individuals, their roles to the company’s success and vision………..
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