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The idea for this report is to analyze and recommend the plan for the realization of a tactical strategic management for the organization that is dedicated to the deduction of key strategic plans that are to be managed and effectively mandated under the principle norms of realization for the chosen industry which as of the case is a luxury bag manufacturer. The idea is to implement the five forces model that was proposed by porter to design a layout for the strategic implementation of the principles. The conjuncture for the report is thereby commemorated under the heads of specific generic categories that enlists the discussions in relevance to the context of the topic.
The strategic management is an integral part for the attainment of sustainability in business for any organization. The realization of an effective strategic management system can readily be done as per the standardized norms of management theories and theoretical models which can readily be implemented to survey the environment, both the internal and external of the organization and hence plan a tactical strategy containing the calibration of the key success factors as the idealistic outcomes for the organization.
The ideologies are hence calibrated by categorizing the report under the following heads.
The first step for the implementation and fabrication of any strategic plan or the management principle by any organization the first and the foremost important thing is a dedicated and efficient market survey with the specific target to figure out the various attributes that are in relevance for finding the fundamental orientations for the market one major type or field of such analysis is the competition survey that can effectively be done by the strategic management theory that goes by the name of porter’s five forces analysis (Lee, Kim, & Park, 2012), the schematic layout for the porter’s five force model can be given in the appendix section which illustrates the topic further. The ideas for the analyses are to be drawn under the following heads as per the situational demand for the case for the luxury bag company.
The following are the five forces of analysis that are drawn to mandate the tactical plan for the strategic management of the company.
The section clearly depends on the competitive nature of the buyers, it is often seen that the organization demands the possibility factor to analyze the nature of the buyers. The profitability count for the organization demands the less competent attitude of the buyers. The idea is to iterate the facts related to the extent a buyer can be capable of bargaining or extracting favors from the company.
The idea can be drawn on the fact that research should be conducted for the evaluation of the competent availability of the substitute product. This highly affects the pricing and the quality of the product, and also to some extent helps the realization of the options that are available in the market for the consumers.
The idea for analysis is to evaluate the option availability, pricing affectivity and the fractional quality of the suppliers. It has also to be considered that to what extent the company itself has the capability to switch suppliers. This not only incinerates the cross checking of the suppliers but also effectively analyzes the quality of the products and the services that are available in form commodities and commitment of the suppliers.
The idea for this model of analysis the idea is to attain the concept of the facts about the economic scale of production, then the availability of buyer’s trust upon the company so that there might be fewer threats owing to the new entrants. The cost and investment to profit detail to figure out the strategic adjustments in the price factor of the products. The effects upon the supply and distribution network are also to be attained. Thus the fields of analysis under this head are discussed.
This is the conjuration of the sensible and healthy competition factor that should ideological reside within the sellers to ensure the proper product development and the growth of the organization as a whole. The rivalry quotient are said to be high in small growing business where usually the organization continue the acts of boosting the marketing through various proactive gestures whereas in the fast growing business opportunities are handed to each and every organization for the high demand and thus growth is ultimately strategized in both the scenarios (Eden & Ackermann, 2013).
Thus the five forces of competitive analysis are explicitly discussed.
The analysis had been performed over the luxury bag company and the results are categorically evaluated and now the section recommends the key Success factors for the betterment of the industry (Kumar & Ravindran, 2012). The ideas are hence categorized as follows.
Firstly, the factor that is applicable is the Manufacturing related factors that readily include the effective principles for quality maintenance since owing to the nature of the industry the idea is certainly to maintain the best quality of the products to appeal to most customers and hence develop a profound trade market for the industry and also gain the trust factor of the buyers.
Secondly, the marketing and the branding for the product should be done very carefully. The idea is to accumulate the principle norms of marketing such as the proper launch events and the ideological implications of tactical advertising and branding of the product. This grabs that attention of the people and hence emphasizes on the financial and structural growth of the company. This also provides success against the competition residing in the market.
Thirdly, there can also be other factors such as decent after sale services and the tactical support for effective and spontaneous service at the time of purchase. There can also additional factor that includes the proper functioning of the organization and the operational sustainability realization. the concepts of the decent operations and strategic management of inventory and supplies can also contribute to the factor.
Finally, the performance of the employees are also the effective way of portraying the realization of the sustainability and organizational stability by the up keep of the performance grade of an efficient and hardworking team of professionals employed under the banner of the company.
Thus the key success factors are proactively combined and hence the ideas are readily deduced and depicted in the paragraphs as above. The porter’s attain analyses wields a substantial significance to the results obtained and hence readily helps the analysis and gaining of the results for the company or organization’s strategic measures to attain the final acts or steps that can comply with the success of the organization (Hill, Jones, & Schilling, 2014).
The report is comprised of descriptive deductions with the help of Porter’s five force model analysis and strategic management we can definitely improve the condition of the organization. For the organization to work efficiently the key factors of success are effectively deduced and depicted. Thus the strategic management has been vindictively established for the development of the organizational behavior. The strategic management is hence a very important factor that readily infuses the technical aspects. The conventional methods are followed and hence the significance of the five forces analysis thus helps out in the establishment of the success factors. Thus the report can be concluded.
The schematic for five forces model of Porter’s