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INTRODUCTION TO BUSINESS STRATEGY
Business strategy is used for determining objectives and plan to meeting them in an effective and efficient manner. By implementing business strategy, top management of organization provides the direction to perform business activities to achieve the organizational goals. Report will explain the mission, vision, objectives and goals of Mulberry and issues that are involved in planning of strategy. Mulberry is public limited company of UK which deals in fashion products and accessories. Organization is having stores throughout the world including Europe, USA, Asia and Australia. The next part report will produce organizational and environmental audit and explain the significance of stakeholder for Mulberry. In the end, report will evaluate the alternative strategies for organization and select one for future. Furthermore report will compare the role and responsibility for strategy implementation and resources required for applying new strategy with target and timescales for Mulberry.
TASK 1 PROCESS OF STRATEGIC PLANNING
1.1 Mission, vision, objectives, goals and core competencies of Mulberry
Mulberry is an English design company renowned worldwide for its craftsmanship and quality of products. Organization is dealing in luxury fashion bags for men and women with stylish, stand-out design with finest leather. Mulberry is offering effective product range to attract customers and achieving the goals and objectives.
Mission of Mulberry:
The mission statement of organization is “To develop product and services that meet the desired level of customer.†Organization is always looking to improve the quality to encourage the brand name and influence the decision of buyers all around the world (About Mulberry, 2014).
Vision of Mulberry:
The vision of organization is to develop market size and share by offering quality product to customer as well as encourage the employees to generate creative and innovative design that influence the market of fashion.
Objectives:
- To increase the market size and share with effective brand positioning.
- To develop new and creative range of products.
- Set brand reorganization in emerging nations in fashion market.
- Contribute in betterment of environment by effective disposal of waste and recycling.
- Optimum uses of resources.
- Effective advertising by including ethical and legal approach according to country.
- Improvement in technology to reduces extra cost of manufacturing.
Goals:
The goals of Mulberry are to generate revenue from the potential areas of sales and offering of innovative and stylish product to retain the customer. In addition of that, organization is aiming to open new stores in international market and involvement of cultural and regional impact in products to strengthen the brand image in growing business areas.
Core competencies:
In that organization is having good sense of fashion that is helping to set unique identity of products and accessories for men and women (Linn, 2008). The quality and style of products are the key elements which support to gain competitive advantage for
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