The fast fashion retail sector in the UK with reference to two Essay

The fast fashion retail sector in the UK with reference to two value-fashion specialists, T.K. Maxx and Primark - Essay Example The selected companies are T.K. Maxx and Primark, two value-fashion retailers that have larger presence in the UK. Both T.K. Maxx and Primark are held by larger holding companies, TJX Companies and Associated British Foods, respectively. The report begins by giving descriptions of these two companies, their target markets and profitability. To pace the report in context, we next evaluate the macro-environment using PESTEL (Political, Economic, Social, Technological, Environmental and Legal) approach. After that, we look at the competitive environment using Porter’s five forces analysis. The report is then concluded with an analysis of the core strategies deployed by these two firms as well as the challenges that emanate. 2.0. Company descriptions 2.1. Primark Primark Stores Limited is a retailer of affordable fashion that has 232 stores as at December 10, 2011, in the United Kingdom and Ireland, Spain, Germany, Belgium, Portugal and the Netherlands (Primark, 2011). It is par t of Associated British Foods (ABF), a diversified international food, ingredients and retail group. Primark contributed 28% of ABF’s total group revenue in 2011 which was 13% greater than 2010s figures (Associated British Foods, 2011). In 2010 Primark was UK’s largest clothing retailer with sales of ?3,043m, closely followed by ASDA and Marks & Spencer (Shields, 2010). The company sources its apparel mainly from manufacturing units in China, India, Turkey and Bangladesh, but also sources from other countries as well. Its target market is the fashion-conscious under 35s and its positioning is to offer the best value on the high street. Primark sells a range of fashion items that includes... This report seeks to compare the strategy of two retailers with a UK presence competing in the same market sector and segment. The selected companies are T.K. Maxx and Primark, two value-fashion retailers that have larger presence in the UK. Both T.K. Maxx and Primark are held by larger holding companies, TJX Companies and Associated British Foods, respectively. The report begins by giving descriptions of these two companies, their target markets and profitability. To pace the report in context, we next evaluate the macro-environment using PESTEL approach. After that, we look at the competitive environment using Porter’s five forces analysis. The report is then concluded with an analysis of the core strategies deployed by these two firms as well as the challenges that emanate. The fast fashion industry has been turned on its head by the emergence of value-retailers such as Primark and T.K. Maxx. Primark has utilized its lean and efficient supply chain, limited operation costs and store location and size to create its competitive advantage in the sector. On the other hand, T.K. Maxx has exploited the strategies of opportunistic buying, pricing and flexible business model as its competitive advantage. Neither company has fully exploited online retailing as an alternative business model despite its steady growth in the UK. Also, the companies are overly reliant on the UK market for bulk of their sales and profits whereas they could exploit the larger European Union to increase their profitability.

Change management Assignment Example | Topics and Well Written Essays - 2500 words

Change management - Assignment Example People develop new initiatives, new projects, and new technologies, which are all meant for improvement, or for solving problems. Change is experienced at various levels, including the personal and the group level. Therefore, in this case, companies are places where change will be experienced in form of organizational change. Although change is a good concept, this might result in detrimental effects, if it is not well managed. Therefore, the skills and knowledge about change management are important for individuals and organizations today in order to experience a successful transition. This semester, through different class activities, I have learnt and gathered great and diverse knowledge about the concepts of change and change management. I have learnt about these concepts in greater depths, including the different theories of change management. In addition, I have practiced reflections on change and organizational change, based on my personal experiences. All these have been help ed to shape my perspective on change and change management, thus built my personal philosophy of managing change. This essay is a reflection of important insights and knowledge about change management, which I have acquired during this semester. ... Companies today are faced with high competition in the market, thus they have to compete favorably, in order to remain productive. For favorable competition, these have to adopt new strategies, which will make them have a competitive advantage in the market. The new strategies might involve the employees in the company or the business processes, including technology, employee roles, among others, and this will call for the employees to adjust to the new processes. Today, there are cases of employees, who have showed reluctance in adopting changes in their companies, while others have shown adherence. This means that employees will respond to change in a company differently (Hiatt & Creasey 2003). On the other hand, Beerel (2009) notes that some professionals lack sufficient knowledge on change management, thus, have failed to effect change in their companies successfully. People hold different views and perspectives about the academic knowledge and theories of change management. Howe ver, during this I have come to appreciate the importance of the insightful views of various scholars about change and change management. This includes different models and theories, which scholars have developed to help explain the process of change and change management. With regard to the current theories on change and change management, I have taken special interest in the scholarly work of Dr. John Kotter. Being a professor at the Harvard Business School, I consider this to prove that he has diverse knowledge on issues in business, including change management. Among his 18 books about leadership, I find â€Å"Leading Change† (1995) and â€Å"The Heart of Change† (2002) to be more relevant to the topic of change management, as these