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Business strategy subject consultant report on adidas marketing essay

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A multinational company which has good image in the field of sportswear and equipment of sport and selected me as a chairman of the company then following could be my business strategies for the growth and expansion of the company. Discussing new strategies for the growth development and diversification as a case study I am taking ADIDAS Company.

Problems of ADIDAS

Adidas Company does have a various diversified collection of sport products like footwear, casual shoe, clothing, bags, perfumes, deodorants, lotion, and watches. It brand has image however; mostly income is consequent from selling into retailers.

To solve the problems for making profitable as a chairman I will take following strategies

Target: Mostly sportsperson are from age of 18 -40. So, keeping in mind of youth new product should be produce of high quality worldwide marketing.

New product leadership: New thinking management lead the company into profitable period.

Making diversification plan: Producing new products of high value items like jewellery, electronic equipment, sunglasses which have a tendency to have supplementary to makes high profits.

Brand: As it strong global brand could developed internationally, as market which have throwaway incomes to spend on high value goods could have new richer consumers which support the brand by advertising and promoting during international games like Olympic, Soccer to make product and brand recognized.

Support stakeholder arrangement: Helps to identify and responsibilities all maintainability issue of the organisation, analysing systematically impact upon the stakeholders and determine the key risk areas of the organisation.

TASK 2

Business Strategy

According to Johnson and Scholes, Strategy is a direction and scope of an organization over the long-term which achieves advantages for the organization through it configuration of resources within the challenging environment to meet the needs of markets and fulfil the stakeholder’s expectation.

Strategy is about

*In the long term where the business is trying to get to (DIRECTION)

*Which markets should a business compete in and what kind of activities is involved in such markets? (MARKET, SCOPE)

*In those markets how can the business perform better than the competitors? (ADVANTAGE)

*In order to able compete what resources are required? (RESOURCES)

*What external, environmental factors affect the businesses ability to compete? (ENVIRONMENT)

*What are the values and expectations of those who have power in and around the business? (STAKEHOLDERS)

Importance of Strategy

Strategy are those steps of an organization may want to take, they may be good, proper steps. Strategy is what unit position will be able to achieve what are advantages will be at the end of the day as an organization takes steps further overtime.

In business strategic planning is the key from the viewpoint of the long-term. Assuming out where the business is going, where it is now and where it must go to overall success strategic planning is important. Every company has their own goals and objectives in order to growth into giant and increase turnover in the business. To achieve the aim and objective, business strategy and strategy planning are essential for sustainable the business over long-term with strategic planning and decision making.

The creation of strategy accelerates a number of action and desired result. All members/staffs/employees of the organisation are provides with a clear vision of what objectives and resolutions of the firm are. A strategic plan, formulation of strategy forces organisation to survey the view of change in the estimative future and allows the firm to plan its capital budgeting, as to invest limited funds where it will be most effective in order to develop the highest returns from the investments.

Vision Statement

It state the organisation where is going and what goals can look like or wants to become. It is usually resonate with the organisation whole members generating pride, excitement with covering the vision of those who are behind the company. It stretches capabilities and image of the organisation with giving shape and direction of the organisation’s future business how it will look like in the following years.

Mission Statement

It purpose is a precise description of an organisation does and why the organisation is currently exists. It defines the customer and the critical process. It informs the desired level of performance.

For making company to grow and diversify and to reach to the goals what they have defined in a mission statement there should be effective strategy with clear mission and vision statement.

Some important steps must be applied for formulating of strategy:

*Company must do the business of corporate strategy level.

*The company must expressive mission statement reliable with its business classification.

*Strategic objective must develop and set concert objectives at least 12% sales growth a year.

*Analysis of both internal and external factors based on it objective to fulfil its corporate goals.

*Finally, the company need to evaluate it strategy effectively, performance objectives and change its possible strategy from the above steps.

Strategy Objective

It plans the position in the market place where the firm pursues. It relates the arranging of goods and service and manages its operation among competitors. Typical strategic objective include customer service level, market share, revenue size, profit, technological accomplishment, return investment and diversification.

Goals

It is a long range aim for a specific time-frame. Recruiting strategic plan must to develop in such a way that it can easily adaptable in action plan which is one of the core goal. Goals should be intended and expressed to be measurable, specific, faithful, convincing, spreading the aptitudes of those working to achieve the goals.

Target

Strategic objectives and performance target is pecking order of strategic origination starting from highest level which is constantly transformed from level to level of each department distinguishes what its contribution to the overall mission is to be of the firm.

Conclusion

From the above we came to know overall objectives and analysis of both factors, the company must generate an exact business to fulfil the corporate goal with strategic plan. To perform strategic planning process successfully all the strategic planning, objectives, goals, mission, vision, targets are interrelated each other.

Thanks for Voting!
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