As a person with knowledge of the luxury goods industry, the author has always brought up to his superiors the viability of strategy formation regarding the analysis of this industry and at times fail to understand the reasons or logic behind certain strategic implementations imposed on it.
By delving into this project paper, the author intends to have better insights into how the strategic analysis of the luxury goods industry is thought up, formulated and then imparted down. The author hopes to have an in-depth understanding as to how the strategic analysis of the luxury goods industry enables companies and organizations in this business to compete effectively and profitably in this era of internationalization where competition is extremely intense.
In order to reinforce the learning objectives, two key focal issues were focused upon i.e. innovation and diversity. Innovation was discussed with regard to the strategic analysis of the luxury goods industry where it was renowned for its developmental capabilities to constantly innovate. Diversity came under strategic thinking and formation as the author considered the diverse culture, political climate, economic surroundings, social environment, technological settings, government policies and legal systems in order to better understand the issues being discussed.
This paper utilized the luxury goods industry as the model industry to review its present impacts and opportunities and how it dealt with critical situations. From the analysis, key trends in the luxury goods industry were then identified, how it worked and its effectiveness in dealing with critical situations was ascertained. The paper then moved on to assess the luxury goods industry with regard to its suitability to critical situations, during which the internal capabilities of the industry in relation to the strategy being followed was determined also. An overall analysis... [continues]
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(2009, 02). Coach. StudyMode.com. Retrieved 02, 2009, from http://www.studymode.com/essays/Coach-192192.html
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