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Running head: Business Model and Strategic Plan Part III: Balanced Scorecard
Running head: Business Model and Strategic Plan Part III: Balanced Scorecard
Business Model and Strategic Plan Part III: Balanced Scorecard
Carolyn Holden
BUS/475 - INTEGRATED BUSINESS TOPICS
Richard Taylor
Sunday, November 22, 2015
Miles David boutique Integrated Marketing Communication Plan
Miles David boutique is a renowned American multinational fashion corporation operating chains of large discount warehouse and departmental stores. It is currently targeting to be among the biggest private employers in the world with slightly over 1 Million employees. Miles David founded the company in November 2013. Miles David boutique’s headquarters are based in Houston State. It has eminently expanded since it was founded in 2013. Currently, Miles David boutique runs 200 stores situated in 15 different countries. With the view of understanding the entire environment of Miles David boutique, it is important to critically analyze its strengths, weaknesses, opportunities and threats (Oldham, 1980).
As evidenced by its incredible success, Miles David boutique has several competitive advantages over its competitors. For instance, Miles David boutique offers a wide variety of merchandise at very competitive prices. Due to their large purchases, they receive exorbitant discounts from their suppliers, and this is passed down to the customers. Further, they manufacture their brands and supply goods from local suppliers to retailers. Another advantage is that Miles David boutique’s large size and high purchasing power enables the company management to access customers from all over the world. It also has an incredible team of executives who form its leadership. This has equipped Miles David boutique with the management of high caliber. Lastly, the Company spends its resources carefully with the aim of maximizing their margins while reducing costs.
Strengths
As evidenced by its incredible success, Miles David boutique has an abundance of strength. For instance, Miles David boutique offers a wide variety of merchandise at very competitive prices. Due to their large purchases, they receive exorbitant discounts from there suppliers, and this is passed down to the customers. The strength of Miles David boutique is that they manufacture their brands and supply goods from local suppliers to retailers. Miles David boutique’s large size and high purchasing power are also strength on its own. It has an incredible team of executives who form its leadership. This has equipped Miles David boutique with a management of high caliber. The company spends its resources carefully with the aim of maximizing their margins (Burton, 2012).
Weaknesses
About weaknesses, Miles David boutique, being a large multinational company, has a large pool of employees. Managing.
1Running head Business Model and Strategic Plan Part III Balan.docx
1. 1
Running head: Business Model and Strategic Plan Part III:
Balanced Scorecard
Running head: Business Model and Strategic Plan Part III:
Balanced Scorecard
Business Model and Strategic Plan Part III: Balanced Scorecard
Carolyn Holden
BUS/475 - INTEGRATED BUSINESS TOPICS
Richard Taylor
Sunday, November 22, 2015
Miles David boutique Integrated Marketing Communication
Plan
Miles David boutique is a renowned American
2. multinational fashion corporation operating chains of large
discount warehouse and departmental stores. It is currently
targeting to be among the biggest private employers in the
world with slightly over 1 Million employees. Miles David
founded the company in November 2013. Miles David
boutique’s headquarters are based in Houston State. It has
eminently expanded since it was founded in 2013. Currently,
Miles David boutique runs 200 stores situated in 15 different
countries. With the view of understanding the entire
environment of Miles David boutique, it is important to
critically analyze its strengths, weaknesses, opportunities and
threats (Oldham, 1980).
As evidenced by its incredible success, Miles David
boutique has several competitive advantages over its
competitors. For instance, Miles David boutique offers a wide
variety of merchandise at very competitive prices. Due to their
large purchases, they receive exorbitant discounts from their
suppliers, and this is passed down to the customers. Further,
they manufacture their brands and supply goods from local
suppliers to retailers. Another advantage is that Miles David
boutique’s large size and high purchasing power enables the
company management to access customers from all over the
world. It also has an incredible team of executives who form its
leadership. This has equipped Miles David boutique with the
management of high caliber. Lastly, the Company spends its
resources carefully with the aim of maximizing their margins
while reducing costs.
Strengths
As evidenced by its incredible success, Miles David
boutique has an abundance of strength. For instance, Miles
David boutique offers a wide variety of merchandise at very
competitive prices. Due to their large purchases, they receive
exorbitant discounts from there suppliers, and this is passed
down to the customers. The strength of Miles David boutique is
that they manufacture their brands and supply goods from local
3. suppliers to retailers. Miles David boutique’s large size and
high purchasing power are also strength on its own. It has an
incredible team of executives who form its leadership. This has
equipped Miles David boutique with a management of high
caliber. The company spends its resources carefully with the
aim of maximizing their margins (Burton, 2012).
Weaknesses
About weaknesses, Miles David boutique, being a large
multinational company, has a large pool of employees.
Managing such employees is never an easy task. It, therefore,
possess a major challenge to Miles David boutique’s
management. The quality of goods sold is another major
concern. Owing to its low prices, customers sometimes question
the quality of the goods. Customer satisfaction is therefore not
guaranteed
Opportunities
As with opportunities, Miles David boutique has been able
to expand into other countries and formed partnerships with
other companies. Another opportunity is that of taking over
some overseas companies such as ASDA in the United
Kingdom. With the escalated trend of internet shopping, Miles
David boutique has the opportunity to develop strategies that
will enhance home delivery of goods whose orders are placed
via the internet. Another opportunity is that of creating
convenience stores. This could enable Miles David boutique to
overcome local restrictions as well as travel costs.
Threats
The most prevalent threat facing Miles David boutique is
competition. Local as well as international competition has
posed a major threat to Miles David boutique. In addition, Miles
David boutique has been vulnerable to attacks regarding ethical
issues. In this purview, it has been accused of providing low
pay and poor working conditions to its workers. Environmental
issues also threaten Miles David boutique’s success.
Analysis of Miles David boutique’s external environment
entails the customers, competitors, technology, and social
4. issues. About customers, Miles David boutique has a large base
of customers. For example, at least one hundred million
customers per week visit Miles David boutique. This can be
attributable to the low prices with which Miles David boutique
offers to its customers. Miles David boutique also offers a wide
variety of merchandise in comparison to the other retailers
(Cummings & Worley, 2004).
In regards to competition, Miles David boutique veneers
stiff competition from Target in the United States. Other
competitive threats to Miles David boutique include Kmart,
Best Buys and Macy’s. In addition, it faces much competition
from various stores. For instance, in North America, Miles
David boutique competes closely with Targer, Meijer and
ShopKo. In Canada, Miles David boutique’s primary
competitors include Real Canadian Superstore, and Hart. There
are some instances in the foreign where Miles David boutique
could not sustain the unwavering competition and had to
withdraw from such markets. These include the South Korean
market where Miles David boutique was compelled to sell all its
10 outlets to a local Korean outlet in 2006 due to unsustainable
competition. In July the same year, Miles David boutique also
withdrew from Germany and sold its store to Metro, a local
German retailing company.
Miles David boutique’s culture
Concerning culture, Miles David boutique has values and
beliefs that were established through its management and
employee relation. The culture is based on various policies and
rules. The Open door policy for instance, is an established
culture by which Miles David boutique’s management values
open communication as a way of having a better understanding
of the Customers’ and global society’ needs and coming up with
a better way of meeting these needs. Grass Roots Process, on
the other hand, is a belief that ideas and concerns emanating
from the associates and customers are very important and are
dealt with in a serious way. Teamwork is another well-
established culture in Miles David boutique stores to mention
5. but a few. These cultures and values define Miles David
boutique’s strengths to large extents.
Miles David boutique’s integrated marketing communication
strategy entails retailing high quality and goods that are
branded at the lowest price as possible. In maintaining the low
process, the company reduces costs by applying its latest
electronic technology and warehousing. In addition, it
negotiates for products directly from manufacturers,
disregarding the intermediary.
Financial objectives
Objective
Target
Measure
Initiatives
Increase Sales
10%
Annual sales report
Hire more salespeople to Increase advertising...
Financial efficiency
7%
Annual costs
to decrease expenses
Financial efficiency
10%
To increase net profit
6. Customer objectives
Objective
Target
Measure
Initiatives
Existing customers
Satisfaction
Annually
To expand sales to existing customers
Customer satisfaction
Customer retention
Annually
To increase customer retention
New customers
Customer attraction
Annually
To expand sales to the global market
Internal strategic objectives
Objective
Target
Measure
Initiatives
Operation management
Internal efficiency
Annually
Make use of physical facilities
Technology management
Innovation
Annually
7. Increase efficiency through online shopping
Customer management
Customer relationship and retention
Annually
Improve customer relations management
Learning objectives
Objective
Target
Measure
Initiatives
Knowledge
Innovation
Annually
Learn and adopt best practices
Culture
Change culture
Annually
Incentives and reward with performance
Training
Improve customer service
8. Annually
Leadership abilities development
Miles David boutique’s objectives
Miles David boutique has three important objectives, which are
to:
1) Respect for the individual customer’s needs
2) Best customer care services to its customers
3) Striving for its excellence
Productivity improvement
The achievement of the fashion company depends upon
fruitful marketing communication relying on sound decision
making by management on the coordination of the different
components of the promotional mix. For marketing
communication to be fruitful, however, a dependable choice
must be made dealing with the three are from the promoting
blend: the product, or the idea itself; the cost at which the
product will be offered; and the spots through or which clients
will purchase the brand. The intense advancement cannot
overcome poor product quality, interesting high costs, or
deficient retail dispersion. The target of selecting the
components of integrated marketing communication is to make a
battle that is successful and steady crosswise over media stages
(Gareth, 2009)
David boutique operations metrics
In Miles David boutique, IMC is implemented by creating
thorough databases on present and potential clients, dividing
these clients into groups with certain normal mindfulness levels
and practices, and creating media procedures and interchanges
that direct the correspondence strategies to accomplish
marketing goals. In doing this, IMC constructs and fortifies
commonly productive associations with clients and extra
partners and creates cooperative energy by amalgamation all
components in the limited time blend into a system that has
9. consistency, clearness and most extreme effect (Byrnes, 2004).
Employee satisfaction
David boutique tries its best to meet the needs of its employees
despite its large pool of workers. Workers are subjected to both
intrinsic and extrinsic rewards according to their performance.
The company also embraces diversity of employees in that I
allows for creativity and innovation among employees. They are
also involved in the company’s decision-making procedures
hence; they feel respected and valued in the companies. The
company’s mangers have also allows for idiosyncratic deals
with the employees to boost their product icy in the company.
Promotion is fair regardless of age, race, gender, and physical
disabilities.
Miles David boutique’s technological innovation
Miles David boutique’s marketing tool and strategies,
Miles David boutique invests in technological development and
innovation (Galbraith, 2001). For instance, Miles David
boutique has distinctively adopted satellite technology that is
geared towards improving its supply chain as well as inventory
processes. This new technology enhances quick and real time
updating of its database. Inventory tracking technology was also
developed which helps in tracking movement of goods with the
purpose of determining any missing items or the level of goods.
Employee turnover or retention
Concerning its bad signs, Wal-Mart, being a large multinational
company, has a large pool of employees. Managing such
employees is never an easy task. It therefore, possesses a major
challenge to Wal-Mart’s management. Employees complain of
low pay and poor working conditions. The quality of goods sold
is another major concern. Owing to its low prices, customers
sometimes question about the quality of the goods. Customer
satisfaction is therefore, not guaranteed. This has in the recent
past lead to high rate of employee turnover.
Level of Miles David boutique’s capability
Miles David boutique’s IMC strategy is based on the
10. notion of recognizing thoughts of consumers, understanding,
analyzing, and handling them. For instance if any other
consumers face any inconvenience at the company, the issue is
treated as the company's problem. This kind of rapport between
Miles David boutique and its consumers is strong to make
consumers trust on Miles David boutique.
References
Gareth, J. (2009). Organizational Theory, Design, and Change,
6th Ed. New York: Prentice Hall.
Grashaw, K. (2011). How can the design of the organization's
structure and culture give some subunits more power than
others? New York: Kindle Books.
Halliman, C. (2009). Business Intelligence Using Smart
Techniques: Environmental Scanning Using Text Mining and
Competitor Analysis Using Scenarios and Manual Simulation.
New York: Kindle Books.
Jacobsen, J. (2011). Sustainable Business and Industry:
Designing and Operating for Social and Environmental
Responsibility. London: Quality Press.
Miles, R. (2003). Organizational Strategy, Structure, and
Process. Stanford: Stanford Business Books.
Strategic Plan, Part II: SWOTT Analysis
11. You should complete only use the shaded sections. External
comes from the outside and you have NO control over them…so
opportunities, threats, and trends (examples of things you have
NO control include the weather or government regulations).
Internal is inside…things that are within your
control…therefore they are strengths or weaknesses.
Strengths
Weaknesses
Opportunities
Threats
Trends
External
Legal & Regulatory
Global
Economic
15. Short…little review about your company and the importance of
planning
II: SWOTT:
What is SWOTT? Why is it important to do? How will it help
your company?
II: External Forces (choose 3 or 4…remember you need a total
of 7 including both internal/external…you pick the 7 that most
applies to your business)
What is an external force?
a). Legal and Regulatory
b). Economic
c).
IV: Internal Forces
What is an internal force?
a). Strategy
b). Resources
c).
V: Economic and Legal/Regulatory Trends
VI: Adapting to Change
VII: Supply Chain Operation
VIII: Issues and/or Opportunities
IX: Conclusion
References
You must have at least 3 references…you must also cite these
references within your paper.
Business Model and Strategic Plan Part I: Conceptualizing a
New Product or Service Division of an
1
Individual Assignment: Business Model and Strategic Plan Part
I: Conceptualizing a New Product or Service Division of an
16. Existing Business
Purpose of Assignment
Students have the opportunity to research a company and
industry using University of Phoenix IBISWorld and other
databases to conceptualize forming a new division of an
existing company based on a new product or service. The
assigned text and Business Model and Strategic Planning
Outline serve as a guide to complete sections of the capstone
project each week. A final paper and presentation is due in
Week 5.
Resources Required
· University of Phoenix Material: Business Model and Strategic
Planning Outline
· University Library: IBISWorld, Mergent Online, Hoover’s
databases
· Strategic Management, Ch. 4. 5, & 6
· Crafting and Executing Strategy, Ch. 3, 4, & 5
Grading Guide
Content
70 Percent
Met
Partially Met
Not Met
Comments:
· Propose a new product or service for the new company
division. The division should be customer-focused with an
innovative mission statement. Ensure that you are
differentiating your product or service.
17. · Describe how the division addresses customer needs and
achieves competitive advantage.
· Create a vision and a business model for this new division that
clearly demonstrates your decision on what you want your
business to become in the future.
· Explain how the vision, mission, and value of the new division
align with the company’s mission and vision.
· Summarize how the vision, mission, and values guide the
division’s strategic direction.
· Define your guiding principles and values for your division in
the context of culture, social responsibility, and ethics and its
alignment to those of the company.
The paper is between 1,400 and 1,750 words in length.
18. Total Available
Total Earned
7
#/7
Writing Guidelines
30 Percent
Met
Partially Met
Not Met
Comments:
The paper—including tables and graphs, headings, title page,
and reference page—is consistent with APA formatting
guidelines and meets course-level requirements.
Intellectual property is recognized with in-text citations and a
reference page.
Paragraph and sentence transitions are present, logical, and
maintain the flow throughout the paper.