STRATEGIC MANAGEMENT

Strategic Management

Table of Contents

Introduction1

Discussion2

History of Milo and Saint2

Critical Incidents in Organization2

Key Strategic Decisions4

The Study of the Market6

Competitor Analysis6

The Consumer7

Objectives7

Target Market7

Segmentation8

Positioning9

Differentiation Strategy9

Entry Mode in the International Market10

Think Globally but Act Locally12

Strategic Business Planning13

Implementation Challenges14

Strategies for Local Companies in Competing Against Global Challengers14

Conclusion17

STRATEGIC MANAGEMENT

Introduction

Globalization has totally transformed the human life and organizational performances. The world has now become more than every enriching and challenging place to work with different cultures, nations and systems. Organizations that are already operating outside their home country are not limited to a few huge enterprises anymore. The world has watched the proliferation of multinational companies from many countries and later from the developing economies (Achenbaum 1993: 89). For this purpose, it has become necessary for almost all companies to operate in their own locality first, and when they have enough control over their area of origin, then they must go national and then international. This is the need of the time and the demand of customers, otherwise in this highly competitive environment it becomes almost impossible to survive (Wernerfelt 1999: 178).

The organization that has been chosen for advice it on the possibility of participating more actively in the national and global market is Milo and Saint, which is a local company that provides luxury goods in the UK market. It is a private firm operating in different cities of the country.

The following essay will discuss the history of the organization. Also, we will be discussing the key strategic decisions that the company can take to cater the international market. In addition, implementation challenges will also be discussed that Capulet can face while catering the international market. Milo and Saint will be expanding its market to US, as it is currently operating only in UK.

Discussion

History of Milo and Saint

Milo and Saint is a company that caters women with its luxury women's accessories products. The company creates stylish, leather bags for today's fashionable women. The company was formed in 2007 by Lucy Holland-Smith. She loved and admired fashion, design and textiles and focused on producing exquisite collection of handbags. The company's philosophy is simple that is to produce beautiful bags, with the help of quality materials (miloandsaint.com). All collection of the company is designed in England. The company uses the finest hand selected Italian leathers and high quality Italian fittings for ensuring lasting quality (miloandsaint.com).

Critical Incidents in Organization

As Mintzbery explained in his framework of ten schools of thoughts that can be used to categorize the field of Strategic Management, the company was not able to observe its internal and external environment in the beginning of its formation.

The design school requires a company to form clear and unique strategies that can be formulated in a deliberate process. In this process, a company needs to match its internal situation to the external factors of the environment.

When the company started its operations in 2007, it did not take into account the external factors that could harm the sales and profitability of the ...