1. If the Williams-Sonoma continues with its present strategies and objectives‚ where will it be in five years? As said by Rouse (2005) author of the Williams-Sonoma case study‚ Williams-Sonoma uses the diversification growth strategy. According to the text with this strategy the company expands product lines by moving into other industries (Wheelen & Hunger p. 208 par. 4). Initially Williams-Sonoma “opened its first store in 1956‚ selling a small array of cookware imported from France. Since
Premium
Case Study: Willimas-Sonoma Williams-Sonoma’s competitors use various strategies as a form of competition. This along makes it difficult for the giant retailer to stay on top of everything. Williams-Sonoma has key competitors like Crate & Barrel‚ Restoration Hardware‚ Pier 1 Imports and Bombay Company. Along with these big names‚ Williams-Sonoma must also compete with regional stores‚ online stores‚ local stores‚ specialty stores‚ department stores‚ and direct-ship manufacturers. Competition for
Premium Retailing Department store
1. Williams-Sonoma made a good choice when they hired Laura Alber‚ the force behind the successful Pottery Barn. The organization understands its market and has done a good job thus far with keeping up with changing needs and trends. The company will continue to strive and reach much success if they continue with its current strategies and objectives. The company has been able to negotiate payment in US dollars to pay for foreign merchandise saving the company money on foreign currency exchanges
Premium Internet History of the Internet
MBA 5101 Strategic Management Unit 8 Case Study Question 1 1. If the Williams-Sonoma continues with its present strategies and objectives‚ where will it be in 5 years? If Williams-Sonoma continues with its present strategies and objectives‚ it will have a large market share in the next five years. Since it was founded‚ it has delved into innovation that has maintained its performance in the competitive environment. The various changes it has made in conducting business will contribute to its future
Premium Management Strategic management Marketing
4. How is Williams-Sonoma using the internet as a distributing channel now and how would you recommend that they use the internet in the future? Williams-Sonoma uses the internet with the direct-to-customer operations strategy. It has eight catalogs in place along with ecommerce websites. “The company sends the catalogs out to customers that have signed up‚ as well as customer names that have been received in exchange or purchase from other mail-order merchandisers‚ magazines‚ and other companies”
Premium Marketing Sales Retailing
BUSINESS POLICY AND STRATEGIC MANAGEMENT Definitions “Business policy is one which focuses attention on strategic allocation of scarce resources – human‚ financial‚ physical and intangible. Conceptually speaking strategy is the direction of such resource allocation and policy is the time of allocation.”-Rodgers “It is a unified‚ comprehensive and integrated planning designed to assure that the objectives of the organization are achieved.”In simple words strategy is a package of measures
Premium Management Strategic management Policy
y Strategic Management & Business Policy‚ 12e (Wheelen/Hunger) Chapter 1 Basic Concepts in Strategic Management 1) Strategic management is one decision that determines the short-term performance of a corporation. Answer: FALSE Diff: 1 Page Ref: 5 Topic: The Study of Strategic Management 2) In the externally oriented planning phase‚ plans are developed by heavily involving the input of managers from lower levels. Answer: FALSE Diff: 2 Page Ref: 5 Topic: The Study of Strategic Management
Premium Strategic management
EDITION Business Policy Thomas L. Wheelen Formerly with University of Virginia Trinity College‚ Dublin Ireland J. David Hunger Iowa State University St. John’s University Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Preface 29 PART ONE CHAPTER 1 Introduction to Strategic Management and Business Policy
Premium Strategic management Management Decision making
BUSINESS POLICY & STRATEGIC MANAGEMENT Objective: This course in Business Policy and Strategic Management is framed to help the students to learn the concepts related to Business Policies and Strategic Management so as to understand how a successful Business Policies and Strategies are framed at different levels of Management for organizational success and smooth functioning of an organization in today’s dynamic environment. I Introduction to Business Policy & Strategic Management:
Premium Strategic management
1. What are four to five ways that specialty retailers differ from discounters (a la Wal-Mart)? Inventory turns: According to the data provided in the Williams-Sonoma Inc. case study (1990) average specialty store turns were just under 2x. If you look at the data from the Wal-Mart Article discount stores have turns many times that‚ actually turns around the neighborhood of 8x. Margins: Discounters such as Wal-Mart go for the high volume low margin approach. Sine their whole approach revolves
Premium Retailing Customer service Marketing