Work-integrated Learning (WIL) Project Management Plan

Work-integrated Learning (WIL) Project Management Plan Table of Contents (Jump to) Executive Summary Introduction Background of the project Intended audiences of the project Contents of the major sections of the PMP Conclusions Recommendations Executive Summary This assignment covered the project management plan of the national WIL portal project. University of Victoria in Australia is the sponsor of the national WIL portal project. The motivation of creating this portal is to make link among community, industry professionals with the higher education and vocational education sector. The students will be benefitted more by getting learning occasion from this. It is to mention that Victoria University is the leading university of thirty four Australian universities which made a consortium. The report starts with an introduction which describes the grounds of the report. The background section justify the situation and framework of the project. It also describes the addressees of the PMP. The checklist of the structure of the PMP is also discussed. Lastly, an analysis of the contents of the PMP by examining each of the key sections. The document includes the configuration that is suggested in the PMBOK moreover it also covered the module four of the class lecture materials. The total numbers of stakeholders are given on this project which creates a positive impact on project management team in communication plan. The risk management plan and risk register was also prepared in the report. There is a discrepancy in Appendix E, which contains work breakdown. The appendix E would be more appropriate if it explained as a milestone chart or project schedule. Appendix E comprises of responsibility, due date, start date and descriptions. These are the characteristics of project schedule. A Gantt chart presenting the plan of project task has not been given. To confirm good scope of management, a correct work breakdown structure should be incorporated. It is also recommended that a standard Gantt chart should be included to demonstrate the planned program of the project. It is also recommended to add full budget which shows cash flowed costs of the project and this benefits project manager to observe and maintain the costs of pro ject in control. In risk register the key assumptions should be included. Introduction The preparation of this assignment is made in line with the project management plan of the National WIL portal project. The student will be benefitted more by this National WIL portal project as it will create a web portal to link community, industry and professionals with the higher education and vocational education sector. The structured report contains a background which covers the project context, the structure of the PMP and the intended audience of the PMP. At the end it ends with a conclusion and some recommendations. Background of the project The National WIL portal project funded by Victoria University successfully applied to the variety and structural adjustment fund of the department of education, employment and workplace relations (DEEWR). The goal of the National WIL project was to make a WEB portal. This web would link among community, professionals and industry which would raise learning opportunities for the students. The major payback of this project was to offer simple communication occasion and assist the increase the growth of work-integrated learning community of practice. The portal would be assisted by the Australian Collaborative Education Network (ACEN). Intended Audience of the project Work-integrated learning (WIL) is widely measured influential in training newgraduates with the mandatory employability competencies to function efficiently in theworkatmosphere (Jackson 2014). In a short, WIL is the expansion of professional skill, the capability of students to perform in the workplace (McNamara 2011). Module four of the MGT8022 course materials describes that the PMP has various reasons and is intended to several audiences. Higher authorities in governance need the PMP for decision making purpose. In order to execute the project by the project team members. Financial sensitive data are not added in the PMP. External funding source may provide some financial support. Project consultant will get a brief description of the project from the PMP but the components of the PMP will be carefully chosen. This is to mention that all the audience does not need full PMP document. Some of the audience may need parts of the PMP. Section 2. 1, P4 of the plan document describes about the various stakeholders. In following table various stakeholders are examined and also explained the reason of the intended audience of this PMP. Key Stakeholder PMP Audience ( Y/N) Reason Victoria University Yes Accountable for planning and leading the project. Execution, monitoring, controlling and closing part of the PMP will be lead by them Judie key Yes As project manager will lead the whole project and also responsible for planning. 34 Partner universities Yes part of the project ACEN Yes Will support the stakeholders and others when the portal will be finished. Project Advisory Group Yes Project advisory group will monitor the project. Project Development Group Yes DEEWR Yes As a funding authority they have interest on the project benefits Table 1: Key stakeholders and the reason to be included as intended audience. Victoria University is the initiator of the project WIL. The essential steps of aprojectinclude beginning, planning, execution,monitoringandcontrolling, and closing (Abushaiba Zainuddin 2012) As a project leader the university needs to learn the execution plan of the project. Monitoring and controlling of the project is also necessary for a successful closing. The role ofprojectmanageris important toprojectaccomplishment (Ahmed et al. 2013). Judie Key is the project manager. She is in charge of planning and leading the project. She needs to execute, monitor and control the project in order to successfully accomplish the project. Thirty four partner universities made a consortium to make national WIL portal. When the portal will be finished they will also be benefitted by this project. Australian Collaborative Education Network (ACEN) will provide the national doorway for industry and community into the universities. Structure of the PMP Organisational culture and the methodology determine the formation of the PMP (MGT8022, P56). PMP should be significant to its intended audience. According to the functional area and difficulty of the project, project management diagram contents will differ (PMBOK Guide 2004). Actually there are no rigid rules as MGT8022 discussed (p56). The PMBOK described (p89) that the PMP can be either summarised or detailed and it can also be consists of one or more subsidiary plans and other mechanisms. In the traditional formation, the authority scale is realized throughout the chain of command, whereas in the project configuration, authority comes from reliability, knowledge, or being a sound decision-maker (Kerzner 2013) According to MGT8022 course outline suggested structure of PMP might include: Overview, objectives, general approach, contractual, schedule, resources personnel Evaluation methods Potential WIL Portal PMP Section Reason For Inclusion 1. Introduction Readers will realize the purpose of the document and a little explanation on it. Background and context of the project, it also includes project objectives. 2. Key Personnel Involved The influential people or organizations of the project. Basically, the people who are involved with project directly. 3. Project Benefits The payback that can be anticipated from the project. 4. Project Scope Project team will be focused and on task with project scope 5. Project Time Schedule Time Schedule tells when each activity should be done. 6. Project budget summary For accountability reason 7. Quality To ensure quality across the project 8. Project roles and responsibilities Define the roles and responsibilities of the project members 9. About the risk management plan To minimise or avoid the risk this plan is done 10. Project control To get the progress report of the plan 11. Communication plan To get a better establishment of communication Table 2: Structure of the National WIL portal project. Contents of the major sections of the PMP Customer satisfaction is the main condition for in general project achievement and  content design goals is the next (Mà ¼ller Jugdev 2012). In this PMP customer satisfaction should comes first before making contents of the PMP and contents should be design according to customer satisfaction. The content of project management differs depending upon the relevance area and difficulty of the project (Institute 2013). The elements of the main sections of the PMP would again rely on the organisational culture and methodology. The contents size depends on the particular project requirements. The contents of the national WIL portal PMP document are explored at the below table. MGT8022 course material is used as theoretical framework in the following table columns. Introduction is not supported by PMBOK. As a methodology PMBOK does not support introduction in any section. PMBOK suggests overview or executive summary of the project. The Victoria university portal project starts with introduction but it would be better if it started with executive summary or overview. Key personnel involved in the project are key stakeholders and team members (Turner 2008). The interest of the project creates a negative or positive outcome of the project. If the stakeholders are against the project they will not wilfully involve in the project. Project team members is vital for project performance, achieving information sharing is still tough (Han Hovav 2013). Team members must be trained how to work together and correspond with others effectively (Tseng Yeh 2013). Projectmanager (PM) capabilities are essential inproject accomplishment (Chipulu et al. 2013). In the Victoria university project there are many parties involved as various stakeholders, it would be a crucial task to make all of them happy. One of the disputes that one face when running aprojectis improbability. This differs fromprojecttoproject. The Risk  Management  process include identify, assess, plan, implement, and communicate (Hinde 2012). Appendix G discussed about the risk management process, here in the case of Victoria university risk assessment based on four major criteria. It is also noted that risk management will be reviewed periodically and, if necessary new things will be added to the process. The  project  schedule  is the complete duration of theprojectwork, including the project management work, in order to generate the project scope (Phillips 2010). In the WIL project start date and end date are given but it would be better if a Gantt chart was given. The project scope is no longer a unimportant assessment (Là ©ger et al. 2013). Manage through a breakdown formation, focus on outcome, balance objectives and levels of ambition and keep it easy are the four principles of scope management (Turner 2008). National WIL portal PMP described various scopes of the project but it would be better if key milestones are given in chart that would be more visible. Quality management process systems are the central part and information warehouse for making any decision regardinga course of action (Ul-Hasnain, Waqar Shahbaz 2012). Quality management process of the WIL project is discussed in appendix C elaborately. Project roles and responsibilities are discussed in appendix D with a chart. Project budget is very important because it identifies the financial resource of that project will use. project is successful when it is delivered on-time, on-budget (Ellis Berry 2013) . Project budget is discussed in the page number eight of the PMP plan as a summery but it is also noted that budget is a sensitive issue. Everybody involved in the project may not have the same interest on budget; the funding party DEEWR has the most interest on budget. Project Communication (PC) pursues regular procedures and guidebook, as Project Management conducts within restrictions of budgets and deliveries (Rajhans Shah 2012). If communication breaks down during any of the stage of project accomplishment, it generates a lot of obstacles and ruins the smooth performance of the whole project (Rajhans Shah 2012) . Appendix D also discussed about the communication plan of the project. Communication plan described the type of information to be communicated and the medium of the communication. This chart shows how all parties involved in the project will be communicated. Although project benefit is discussed in WIL portal project, it is not suggested by Project Management Institute or any authors to include in it project content. Basically, project benefit may be discussed in business case. In this particular case Department of Education, Employment and Workplace Relations (DEEWR) the funding authority of the project may have particular interest of this project benefit. Four requirements are essential for effective control of the PMP. Monitoring and reporting of the results, comparison results with the plan and forecast future results, plan and take effective action to improve the main plan – these three are discussed in WIL project plan but potential work and estimate performance are missing from the content of project (Turner 2008). One means to improve success of theseprojectsis adequatecontrol. WIL Portal PMP Section Discussion of the Section Contents 1. Introduction MGT8022 suggests an overview or executive summary which gives related information. PMBOK does not provide an introduction type section because it is a methodology 2. Key Personnel Involved The contents of the key Personnel section in WIL portal include key stakeholders, those who provide project governance and those who execute project work 3. Project Benefits PMBOK or MGT 8022 course did not mention about the project benefits. Project benefits are discussed in the business case. 4. Project Scope PMBOK and MGT8022 mention about the project scope 5. Project Time Schedule PMBOK and MGT8022 mention about the project schedule 6. project budget summary PMBOK and MGT8022 mention about the project budget summary 7. Quality PMBOK and MGT8022 mention about the project quality 8. Project roles and responsibilities PMBOK and MGT8022 does not mentioned about project roles and responsibilities 9. About the risk management plan PMBOK and MGT8022 mention about the project risk and management plan 10. Project control PMBOK and MGT8022 mention about the project control 11. Communication plan PMBOK and MGT8022 mention about the project communication plan Table 3: Contents of the National WIL project. Conclusion: This is an average report on PMP. The lecture material covered in the module and also the information suggested in the PMBOK are covered in the documents. The total number of stakeholders is given in the PMBOK. Project management team are also integrated in communications plan. The risk management plan and risk register were arranged in the PMP. There is one inconsistency in the Appendix E with work breakdown structure. It would be better if explained in milestone chart. A Gantt chart describing the schedule of the project task has not been given. Recommendations: After the analysis following recommendations are given: To confirm good capacity of the management an appropriate work breakdown structure should be added in the PMP. More in depth budget presenting the cash flowed costs of the project should be given. Project manager will be benefitted to observe the costs of the project. More standard Gantt chart should be incorporated to demonstrate the intended scheduled of the project. The main idea planned in the PMP should be added to the risk register. The reason behind is that if these assumptions are not correct then the project would be at threat All schedules must recognize the time restrictions and, if possible, should recognize those funds vital for all event Plan future work and estimate performance should be added in project control. Project benefits can be omitted from the PMP

It is Time to Legalize Marijuana Essay -- Argumentative Persuasive Top

  Ã‚   The long-standing prohibition against recreational use of cannabis in the United States should be repealed. In addition, the penalties for possession and trafficking of cannabis should be abolished, and cannabis should be taxed and regulated by the federal agency that controls the other recreational, legal, yet addictive and potentially injurious substances tobacco and alcohol (the ATF). Cannabis has been illegal since the Marijuana Tax act of 1934. Yet of a population of 284 million (2000 U.S. Census), 70 million Americans claim to have smoked cannabis at some point in their lives [NORML]. Prohibition of cannabis is therefore apparently ineffective at changing the habits of a population, just as prohibition of alcohol was ineffective in 1919-1933. Making otherwise law-abiding citizens fugitives does nothing more than fill the prisons and alienate the populace from their government. In fact the total cost to taxpayers of solely marijuana-related incarceration (in local, state, and federal prisons and jails) of 15,400 people exceeds $1.2 billion per year. That one billion does not include what it costs to investigate, arrest, and prosecute the "hundreds of thousands of marijuana users arrested every year" [Hall]. Three and a half million people were arrested for marijuana offenses during the 8 years under President Clinton! [NORML] More than double the same period bef ore his presidency. Hall goes on to quote a report by the National Academy of Sciences: "there is little evidence that decriminalization of marijuana use necessarily leads to a substantial increase in marijuana use." So while it is argued that the corruption, guerrilla violence, and terrorism carried out by the black market drug traders would infiltrate ma... ...ause compared to alcohol and cigarettes, there really isn't any reason for it not to be.    WORKS CITED 1. Illegal Drugs and Alcohol-America's Anguish. 1997. Information Plus, Wylie, TX. 2. http://www.lectlaw.com/files/drg17.htm The State Of The Art In Horticulture. A Crime Punishable By Life Behind Bars, By Michael Pollan, From New York Times Magazine, 19 February, 1995. 3. http://www.fas.org/drugs/issue7.htm The FAS Drug Policy Analysis Bulletin, Issue 7, June 1999. "Appraisals of the Adverse Health Effects of Cannabis Use: Ideology and Evidence" by Wayne Hall 4. http://www.usemb.gov.do/IRC/drugs/threats.htm ONDCP Chief Releases Report on Drug Threats Across United States, 2 December 2000. 5. http://www.mapinc.org/drugnews/v00.n1521.a05.html Thornton, Jacqui "Cannabis Can Kill You" U.S. Census data can be found at www.census.gov.

The Body Shop

The Body Shop Table of contents Introduction  :2 Section A3 A comprehensive strategic analysis of the industry  :3 Question 13 1)The external strategic analysis of The Body Shop3 1. 1 ° Synopsis of the beauty industry: Macroenvironement and trends3 1. 2 ° The competition: immediate industry and competitive environment5 1. 3 °The key success factors of the beauty industry and The Body Shop7 1. 4) The SW(OT) analysis of The Body Shop8 Question 2:8 Applicability and effectiveness of new CEO Patrick Gournay’s strategies8SECTION B10 Question 3:10 Vision and Mission10 Question 4:11 Financial and strategic objectives:11 Question 5:12 Corporate and business strategies12 Question 615 Balanced scorecard for The Body Shop15 References Introduction The cosmetic industry is one of the biggest industries in the world. The worldwide annual expenditures for cosmetics is estimated at U. S. $18 billion. There is a strong competition in this industry all over the world. To compete and obtain a competitive advantage, companies have to invest a lot.They always have to innovate, to invest in advertising campaign in order to be known and to be successful. The Body Shop decided to be different, their products are natural, it is an ethical organisation, associated with environmental friendliness. But how The Body Shop takes part in the cosmetic industry? What are their vision and mission and what strategic directions should be recommended to the Body Shop in order to perform successfully in this industry? Section A A comprehensive strategic analysis of the industry Question 1The cosmetic industry is a very aggressive and challenging market, in order to be more competitive and to gain market shares and customer loyalty, companies as The Body Shop have to understand their environment. After analysing the external environment (major trends of the industry, competitors and driving forces), the key success factors as well as the strategic issues will be evaluate, in order t o provide a SWOT analysis. 1) The external strategic analysis of The Body Shop 1. 1 ° Synopsis of the beauty industry: Macroenvironement and trendsThe PEST model in as interesting tool to understand and study all the components and trends that affect the beauty industry. This environment analysis permits us to understand the strategy of beauty brands as The Body Shop. To identify the importance of each components of the industry, it is necessary to quantify them. In the last column, O will represents â€Å"opportunity† however T will represent â€Å"threats†. Moreover, a number will be associated to see the impact of each element. PESTE model for the Body Shop |Importance of the regulations concerning the launching of new |T 5 | |Political environment (legislation and |products in the markets: (allergies†¦) | | |regulations) | | | | | | | | | | | | |Globalisation (driving force) |T8 | | | | | | |Strong local and foreign competition |T9 | | | | | | |Increas e in prices | | | | |T6 | |Economic and international environments |Increase in the budget bound for beauty | | |(general economic conditions) | |O6 | | |Cosmetic industry: huge market | | | | | | |Alliance groups in the cosmetic industry to attract new customers |O8 | | |(driving force) | | | | |O7 | |Societal environement (societal values and |Growth of the free time: importance to take care of our body and |O6 | |lifestyles) |beauty | | | | | | | |Importance of well being | | | | |O8 | | |Importance of the beauty (driving force) | | | | |O8 | | |Be young and stay young | | | | |O8 | | |Ageing of the population (segmentation of products) (driving force) | | | | |O7 | | |New market for men (new products.. ) (driving force) | | | | | | | |Companies and customers have more and more social responsibility |O8 | | | | | | Different needs and preferences according to the countries and the | | | |skin differences |O7 | |Societal environement (societal values and | | | |lifesty les) |Important demand variations and fashion effects in terms of |O6 | | |cosmetics | | | | | | | |Growth of the worldwide market of cosmetics (driving force) | | | | |O6 | | | | | | | | | | | | | | | |T8 | | | | | | | | | | | | | | | |O7 | | | | | | |Use of internet to buy products (driving force) |O6 | | | | | | Rapid innovation (waterproof †¦) (driving force) | | | | |T7 | | |Need of strong technological capabilities | | |Technological environment | | | | |Strong marketing innovation (driving force) |T7 | | | | | | | | | | | |T8 | | | | | | |Respect the environment |O10 | | | | | |Environmental aspects |Sustainable development |O10 | | | | | | |Fair trade |O8 | | | | | | |Bio market and products (driving force) |O9 | | | | | |Environmental aspects |Ecology | | | | |O8 | After this analyse of the trends, components and driving forces of the industry, it is interesting to see the place of the competitors in the industry. 1. 2 ° the competition: imme diate industry and competitive environment In order to understand the dynamism of The Body Shop, we have to understand the competitive structure of the cosmetic industry.The â€Å"competitive structure† of this market and the â€Å"critical rules of the game set by the industry† can be explained by using the â€Å"Porter’s model of competitive forces† in the cosmetic market. The Porter’s model is composed by five forces, the nature and strengths of the competitive pressures associated with these five forces have to be examined force by force to identify the specific competitive pressure which each comprises and to decide whether these pressure constitute a strong or weak competitive force. (Hough, J et al: 2008:101). It permits us to establish how important the market is to current and potential competition. Porter ‘s model of competitive forces in the beauty market [pic] These forces are explicated in this table: |- High local and internati onal competition | | | | | |- The Body Shop has to face the direct competition in the domestic and international markets | | | | | |- Face the numerous cheaper competitors | | | |Rivalry competition |- Lots of competitors as: supermarket, beauty institutes, hair dresser, perfumery †¦ | | | | |HIGH |- Big brands with strong image: Dior, Yves St Laurent, Estee Lauder †¦ | | | | | | | | | | | | | |Rivalry competition | | | | | |HIGH | | | |- Too much brands | | | | | |- Too difficult to obtain a brand image and customer loyalty | |Threats of new entrants | | |LOW |- Numerous regulations | | |- There are not really substitutes products but there are lots of others brands.. | | | | | |- The substitutes products will be : | |Threat of substitute products | | |HIGH |- Cheaper products, no name brands | | | | |- Products tested on animals | | | | | |- Non natural products | | | | | |- Imitative products | | | | |Bargaining power of suppliers |Their impacts ar e not too big | |MEDIUM | | | |- High expectation in terms of quality and services | |Bargaining power of buyers | | |HIGH |- New generation with internet, buyers can compare prices | After this analysis, we can follow with the key success factors of The Body Shop. 1. 3 °the key success factors of the beauty industry and The Body Shop â€Å"Key success factors are the products attributes, competencies, competitive capabilities, and market achievements with the greatest impact on future competitive success in the marketplace. † (Hough, J et al: 2008: 97) In order to succeed and to be competitive, The Body Shop has to manage key success factors. So we can say that cosmetics brands have: – To be innovative and to propose new products – To obtain global distribution capabilities To have strong e-commerce capabilities (friendly website†¦) and the possibility to buy online products – To have an excellent and famous branding image: customers could iden tify them to the brand and its values. – To be different – To maintain high level of quality and services in order to improve customer satisfaction and loyalty In the next part, we can realise a SWOT analysis to evaluate if The Body Shop meets these key success factors. 1. 4) The SW (OT) analysis of The Body Shop The SWOT analysis provides an overview of the firm’s situation and it is an essential component of crafting a strategy tightly matched to the company’s situation. (Hough, J et al: 2008: 138).The SWOT analysis is composed by the strength, weaknesses, opportunities and threats. We have already done the opportunities and threats in the macroenvironment analysis that is why we just evaluate here the strengths and weaknesses of The Body Shop (internal environment). | | | |STRENGHTS |WEAKNESSES | | | | |Global business Lack of new products | | | | |Ethical business |To slow to get new market share | | | | |High social responsibility |Stores to o old, need a new design | | | | |Respect of human rights |Unpopularity of the Body Shop in the city and in the business | | |community | |Present all over the world (in 47 countries) | | | |Lack of enthusiasm | |Anti animal testing practices | | | |Failure in different countries: ex France, USA.. |Good manufacturing and wholesale | | | |Big problems with franchises | |Reorganisation to the firm to a management group | | | |Lack of adaptation to the needs and preferences of overseas markets | |Importance of the environmental friendliness |(ex: USA) | | | | |Strong corporate culture in the firm ( involvement of the staffs in |Not a strong retailer | |the campaigns) | | |Important financial losses | |Products naturally made | | | |Products and concepts easily imitated | |Uniqueness of the products in term of its packaging | | | |Too much importance in launching environmental projects and too less| |Strong identity |in running business | | | | |Different suppliers from different ethnics and groups |Followers in cutting prices | | | | |A.Roddick: ethical and strong leader |Prices more expensive than the other competitors | | | | |Importance of staff selection |Lack of advertising | Question 2 Applicability and effectiveness of new CEO Patrick Gournay’s strategies P. Gournay was a business man with experiences. He wanted to create a new strategy for The Body Shop in order to be a unique brand, different to the others. This strategy was focus on different point: – Be faster to launch new products (less than one year). – Redesign the stores to satisfy the customers and to improve the brand’ image. – Cut the number of products by 25%, to be focus on â€Å"heritage† products. – Acquisition with Cosmo Trading for ? 7 million to have more control on European operations – Restructuration New products with a strong Body Shop’ identity: Hemp, differentiated products – New leaders hip – Reclarify the mission and vision of the company: be a strong retailer – Outsource manufacturing and find manufacturing partners in each region – Cut administration costs – Decentralization in 4 main regions – Focus on customer satisfaction Even if some problems were still present in UK and USA, and if some periods were more critical than the others as Christmas for example, the P. Gournay’s 2000 strategy was a new life for The Body Shop. After some mistakes due to bad choices and a lack of experience in the cosmetic industry P. Gournay planed a real revolution in The Body Shop organisation.In a result of this revolution, profits rose by ? 9 million to ? 271 million compared with the same period in 1999 and most of his objectives were achieved. These elements show a very good execution of his strategy. It is always easier to plan a strategy but the implementation of it relieve to strong efforts in leadership and management. The organisa tional changes that is to say the restructuration as well as the decentralization of the company were very good strategic changes. It permits to share the responsibilities and to involve more the employees in this new strategy. P. Gourmay is a strong leader, he had the capacity to believe in The Body Shop future and to be fast to react.It understood the needs of the markets in creating new products as well as new services as home selling. He also wanted to be more customer oriented, improving the brand image thanks to the redesign of the shops and developing marketing tools as customer loyalty program in UK. Even if his lack of experience in the beauty industry was claimed, he was able to refocus the company to be a strong retailer. The results of his strategy have been done by better profits, share value and sales. Gourmay looks to be a good communicant, he explained numerous times his choices and the aim of his strategy, this step is important to create a strategy-supportive cultu re.The applicability and effectiveness of his strategy have been recognized by analysts, by the business community but also by all the company. Section B Question 3 Vision and Mission †¢ A mission statement focuses on current business activities — â€Å"who we are and what we do† The Body Shop is a global business, based on ethics, his products are known and famous for their naturally and because they are not tested on animals. The Body Shop is an organization with strong values and identity. The Body Shop was one of the first organization focuses on social responsibility and fair trade. The Body Shop offers natural cosmetics and personal care products. They have services as home selling and massages in their shops.With ageing of population and the importance of well being nowadays, customers have strong expectations in terms of quality and excellence. The sustainable development is a recent value in our society and customers expect companies as The Body Shop to r espect it. The Body Shop is a good retailer; it has manufacturing partners in each of his four region area. This organization has the capacity to create new 100% natural products and to be involved in social causes. †¢ A strategic vision concerns a firm’s future business path — â€Å"where we are going† The Body Shop should gain market share and extend his leadership position in the cosmetic industry worldwide. They should be more famous and extend their brand awareness all over the world.The Body Shop will follow with his ethical values and develop new products and services in order to be more competitive. In other words, The Body Shop has to create new opportunities to leverage their brand globally. To achieve these goals, The Body Shop has to pursue and to improve the broader corporate goals of profitable growth and continuous improvement. The Body Shop should: – Achieve world-class performance by attaining a strong competitive position in target markets. – Exceed customer expectations for quality and value. – Earn in excess of the cost of capital over a business cycle. These elements can be reaching thanks to: – The distinguished brand The heritage of integrity and teamwork. – The advanced skills – The special relationships that have long existed between the company and the employees, customers, dealers and other business partners around the world The Body Shop has to pursue his natural products based more on well being than beauty. They have to follow their politics about ethics and fair trade and stay oriented by the environmental friendliness. The Body Shop has to be focus on customer satisfaction. The management has to be more profits oriented and be more aggressive in order to survive. †¢ Types of business , the body shop should be in: The Body Shop should open his shops to new customers.Nowadays there is a new market with men and old people. They should segment their products an d adapt them to new consumers’ needs and expectations. They also should create and develop a friendly website where customers could see all of their range of products and buy them online. Question 4: Financial and strategic objectives: Financial objectives: Outcomes focused on improving financial performance ? Achieve revenue growth of 10% per year This objective is important and it is achievable. Indeed, thanks to P. Gourmay they have reached very good performances in term of profits and sales. This objective will be the consequences of the new strategy implementation.It also will be the results of a better customer satisfaction and brand awareness. This objective can be reach thanks to an internal growth as I said before but also thanks to an external growth. It will be interesting for The Body Shop to realize alliances with big actors of the cosmetic industry. ? Increase net profit margins from 2% to 4% As we can see in The Body Shop case, that during Christmas period they have interesting margins. This objective can be the results of scale economies, and costs reductions. Strategic objectives; Outcomes focused on improving long-term, competitive business position. Different strategic objectives could be developed: ? Have more attractive products than rivals Be more focus on customer satisfaction ? Gain customer loyalty ? be more innovative ? Gain recognition as a leader in natural products We are going to focus on 2 main objectives: ? be more focus on customer satisfaction This element is key point to ensure the future of the Body Shop, they have to be more customer oriented, to understand their needs and expectations. If customers are satisfied and feel considered, they will be naturally more loyal. As we know, a loyal customer is cheaper than a new customer. Different tools will be developed in the new strategy in order to reach this objective. Moreover, The Body Shop will have a new strategy to obtain new customers. Gain recognition as a leader i n natural products The core competency of The Body Shop is his capacity to create natural products. To gain market share, they should use this element and work on it in order to be recognize as a leader in the natural cosmetics industry. This element will give to the Body Shop an excellent and famous branding image. The Body Shop will have an image of â€Å"specific† companies, with strong skills and know-how. Question 5 Corporate and business strategies In order to reach the financial and strategic objectives gave above, The Body Shop has to realise some actions to be more and more competitive during the five next years: The Body Shop has to follow his strategy of differentiation by launching natural Products with elements from all over the world. â€Å"The essence of a broad differentiation strategy is to be unique in ways that are valuable to a wide range of customers. † (Hough, J et al: 2008: 152) To be very effective, The Body Shop has to study consumers ‘ne eds and behaviours to understand what they consider important, what they think has value and what they are willing to pay for. This buyers study will help them to create new products and services perfectly adapted to consumers’ expectations. It they follow this strategy and tried to be totally different, the consumers will accept to paid more and will be able to identify them to the brand.This strategy needs also to have a strong corporate culture based on innovation, the human resources have a strategic role, they have to recruit creative employees. The employees have also to be trained in order to be innovative and creative. – Have a bigger brand awareness is necessary for the Body Shop. That is why they have to invest more in marketing. They already have a strong identity but they have to diffuse it thanks to new media opportunities. The communication is an important element, more advertising campaign will add value and increase brand awareness. A powerful world adv ertising campaign will be interesting. As the Body Shop is a brand with strong values and politics, they should realise a different campaign as â€Å"Benetton† has done few years ago.In this campaign, they have to be different and to communicate about their natural products, that is to say their specific skills, their high quality and excellence. The campaign will be a â€Å"paper† campaign or a TV one, if the budget allows these expenditures. – As I said before, The Body Shop has to be customer oriented. They should realise a friendly website where customers will be able to see their range of products and services and where they would be able to buy online products. It will permit to customers to have good references and to be easily found on the world wide web. The website will permits to the organization to be more attractive and to attract a maximum of internet users. The organization should develop his customer loyalty programs all over the world. People li ke to be considerate as a specific customer and expect to have a â€Å"specific treatment†. The loyalty card encourages consumers to be loyal in order to receive presents and special offers. – They also could extend their services: Selling at home should be proposed in numerous countries. Customers love being the main interest of the companies. With this service they feel caring and have the feeling to have customized services. We have also seen that additional services as massages have increase the sales. People after having a nice moment want to buy the products used during this time.The Body Shop should propose services as sauna and hammam for example. – The Body Shop should not stay a niche market. The new trends and lifestyles give them big opportunities. They should realise a segmentation of their products that is to say they should have specific products for men and old people for example. They have to innovate and to adapt them to the changes. – T he Body Shop is already a global company but they should be present in other market as India, an emerging market. The beauty is an important value on this country, and the Indian beauty is known all over the world thanks to L’Oreal’s muse. This new market can ensure new sales and market shares, it is a new opportunity. The Body Shop should adopt a more aggressive strategy; the competition should not be underestimating. The company has to be more profit oriented. To reach their objectives, they can realise some alliance with a big brand as L’Oreal. Indeed, this alliance will permit them to shares their resources and capabilities in technology and innovation for example. It will help them to realise new products. – The creation of new products will also be strategic elements in specific period as Christmas. The Body Shop should realise limited products to give exclusivity to some customers. With specific range of products for this specific period, The Body Shop will improve his differentiation.All these changes require strong involvement of the management and employees, The Body Shop has to be more reactive, and they have to adapt them of their environment: lifestyles etc. As Gourmay done, the company has to change its structure when it is not adapted in order to be profitable and to promote innovation in the company. The culture has to be supportive and be oriented on differentiation and creativity. The resources are necessary to invest on an advertising campaign for example, but these marketing tools can lead to an increase on sales, market share and profitability. The company has to think regionally and globally in order to be present in new market as emerging market.The control is an important step, it is important to evaluate the actions done and to learn from the mistakes. The evaluation permits to have a continuous improvement, The Body Shop should be more control oriented. Question 6 Balanced scorecard for The Body Shop |THE B ODY SHOP | |HEAD OFFICE | |MAIN OBJECTIVE: | |Increase their market share all over the world, be a leader in natural products and have a better brand awareness | FINANCIAL |CUSTOMERS |INTERNAL |LEARNING AND GROWTH | | | | | | |- Refocus on retailing |- Increase their satisfaction |- Reinvention of The Body Shop |- Training of employees to be | | | |brand |more creative and innovative | |- New market shares: |- New products and services | | | |Selling in new market: India |(massages.. |- New structure |-Profiling the staff | | | | | | |- Revenue growth of 10% per year |- Better adaptation to each |- New strategy, plans and |- New staff: recruitment | | |countries’ needs and preferences |leadership | | | | | |- Innovative culture | |- Increase of the share price |- Better communication |- Products line and distribution | | | | |channels rationalized | | |- Selling new products |- Customer retention | | | | | |- Decentralization of the | | |-Selling to new consumers |-Customer acquisition |management | | | | | | | |- Alliance with cosmetics |- Redesign the stores, better |- New values: quality and | | |companies: L’OREAL for example |brand image |excellence | | | | | | | | |- More customer information |- Regulatory control | | | | | | | | |- More prominently |- Be a good corporate citizen | | | | | | | | |- More loyalty programs | | | References – Hought, J. Arthur, A. Thompson, Jr. Strickland III, A. J & Gambie, J. E. 2008. Crafting and Executing Strategy. McGraw Hill International Edition. – Piercy, N. The Body Shop. A case for burial or rising from the grave? – The Body Shop values report. 2007. The Body Shop The Body Shop Table of contents Introduction  :2 Section A3 A comprehensive strategic analysis of the industry  :3 Question 13 1)The external strategic analysis of The Body Shop3 1. 1 ° Synopsis of the beauty industry: Macroenvironement and trends3 1. 2 ° The competition: immediate industry and competitive environment5 1. 3 °The key success factors of the beauty industry and The Body Shop7 1. 4) The SW(OT) analysis of The Body Shop8 Question 2:8 Applicability and effectiveness of new CEO Patrick Gournay’s strategies8SECTION B10 Question 3:10 Vision and Mission10 Question 4:11 Financial and strategic objectives:11 Question 5:12 Corporate and business strategies12 Question 615 Balanced scorecard for The Body Shop15 References Introduction The cosmetic industry is one of the biggest industries in the world. The worldwide annual expenditures for cosmetics is estimated at U. S. $18 billion. There is a strong competition in this industry all over the world. To compete and obtain a competitive advantage, companies have to invest a lot.They always have to innovate, to invest in advertising campaign in order to be known and to be successful. The Body Shop decided to be different, their products are natural, it is an ethical organisation, associated with environmental friendliness. But how The Body Shop takes part in the cosmetic industry? What are their vision and mission and what strategic directions should be recommended to the Body Shop in order to perform successfully in this industry? Section A A comprehensive strategic analysis of the industry Question 1The cosmetic industry is a very aggressive and challenging market, in order to be more competitive and to gain market shares and customer loyalty, companies as The Body Shop have to understand their environment. After analysing the external environment (major trends of the industry, competitors and driving forces), the key success factors as well as the strategic issues will be evaluate, in order t o provide a SWOT analysis. 1) The external strategic analysis of The Body Shop 1. 1 ° Synopsis of the beauty industry: Macroenvironement and trendsThe PEST model in as interesting tool to understand and study all the components and trends that affect the beauty industry. This environment analysis permits us to understand the strategy of beauty brands as The Body Shop. To identify the importance of each components of the industry, it is necessary to quantify them. In the last column, O will represents â€Å"opportunity† however T will represent â€Å"threats†. Moreover, a number will be associated to see the impact of each element. PESTE model for the Body Shop |Importance of the regulations concerning the launching of new |T 5 | |Political environment (legislation and |products in the markets: (allergies†¦) | | |regulations) | | | | | | | | | | | | |Globalisation (driving force) |T8 | | | | | | |Strong local and foreign competition |T9 | | | | | | |Increas e in prices | | | | |T6 | |Economic and international environments |Increase in the budget bound for beauty | | |(general economic conditions) | |O6 | | |Cosmetic industry: huge market | | | | | | |Alliance groups in the cosmetic industry to attract new customers |O8 | | |(driving force) | | | | |O7 | |Societal environement (societal values and |Growth of the free time: importance to take care of our body and |O6 | |lifestyles) |beauty | | | | | | | |Importance of well being | | | | |O8 | | |Importance of the beauty (driving force) | | | | |O8 | | |Be young and stay young | | | | |O8 | | |Ageing of the population (segmentation of products) (driving force) | | | | |O7 | | |New market for men (new products.. ) (driving force) | | | | | | | |Companies and customers have more and more social responsibility |O8 | | | | | | Different needs and preferences according to the countries and the | | | |skin differences |O7 | |Societal environement (societal values and | | | |lifesty les) |Important demand variations and fashion effects in terms of |O6 | | |cosmetics | | | | | | | |Growth of the worldwide market of cosmetics (driving force) | | | | |O6 | | | | | | | | | | | | | | | |T8 | | | | | | | | | | | | | | | |O7 | | | | | | |Use of internet to buy products (driving force) |O6 | | | | | | Rapid innovation (waterproof †¦) (driving force) | | | | |T7 | | |Need of strong technological capabilities | | |Technological environment | | | | |Strong marketing innovation (driving force) |T7 | | | | | | | | | | | |T8 | | | | | | |Respect the environment |O10 | | | | | |Environmental aspects |Sustainable development |O10 | | | | | | |Fair trade |O8 | | | | | | |Bio market and products (driving force) |O9 | | | | | |Environmental aspects |Ecology | | | | |O8 | After this analyse of the trends, components and driving forces of the industry, it is interesting to see the place of the competitors in the industry. 1. 2 ° the competition: imme diate industry and competitive environment In order to understand the dynamism of The Body Shop, we have to understand the competitive structure of the cosmetic industry.The â€Å"competitive structure† of this market and the â€Å"critical rules of the game set by the industry† can be explained by using the â€Å"Porter’s model of competitive forces† in the cosmetic market. The Porter’s model is composed by five forces, the nature and strengths of the competitive pressures associated with these five forces have to be examined force by force to identify the specific competitive pressure which each comprises and to decide whether these pressure constitute a strong or weak competitive force. (Hough, J et al: 2008:101). It permits us to establish how important the market is to current and potential competition. Porter ‘s model of competitive forces in the beauty market [pic] These forces are explicated in this table: |- High local and internati onal competition | | | | | |- The Body Shop has to face the direct competition in the domestic and international markets | | | | | |- Face the numerous cheaper competitors | | | |Rivalry competition |- Lots of competitors as: supermarket, beauty institutes, hair dresser, perfumery †¦ | | | | |HIGH |- Big brands with strong image: Dior, Yves St Laurent, Estee Lauder †¦ | | | | | | | | | | | | | |Rivalry competition | | | | | |HIGH | | | |- Too much brands | | | | | |- Too difficult to obtain a brand image and customer loyalty | |Threats of new entrants | | |LOW |- Numerous regulations | | |- There are not really substitutes products but there are lots of others brands.. | | | | | |- The substitutes products will be : | |Threat of substitute products | | |HIGH |- Cheaper products, no name brands | | | | |- Products tested on animals | | | | | |- Non natural products | | | | | |- Imitative products | | | | |Bargaining power of suppliers |Their impacts ar e not too big | |MEDIUM | | | |- High expectation in terms of quality and services | |Bargaining power of buyers | | |HIGH |- New generation with internet, buyers can compare prices | After this analysis, we can follow with the key success factors of The Body Shop. 1. 3 °the key success factors of the beauty industry and The Body Shop â€Å"Key success factors are the products attributes, competencies, competitive capabilities, and market achievements with the greatest impact on future competitive success in the marketplace. † (Hough, J et al: 2008: 97) In order to succeed and to be competitive, The Body Shop has to manage key success factors. So we can say that cosmetics brands have: – To be innovative and to propose new products – To obtain global distribution capabilities To have strong e-commerce capabilities (friendly website†¦) and the possibility to buy online products – To have an excellent and famous branding image: customers could iden tify them to the brand and its values. – To be different – To maintain high level of quality and services in order to improve customer satisfaction and loyalty In the next part, we can realise a SWOT analysis to evaluate if The Body Shop meets these key success factors. 1. 4) The SW (OT) analysis of The Body Shop The SWOT analysis provides an overview of the firm’s situation and it is an essential component of crafting a strategy tightly matched to the company’s situation. (Hough, J et al: 2008: 138).The SWOT analysis is composed by the strength, weaknesses, opportunities and threats. We have already done the opportunities and threats in the macroenvironment analysis that is why we just evaluate here the strengths and weaknesses of The Body Shop (internal environment). | | | |STRENGHTS |WEAKNESSES | | | | |Global business Lack of new products | | | | |Ethical business |To slow to get new market share | | | | |High social responsibility |Stores to o old, need a new design | | | | |Respect of human rights |Unpopularity of the Body Shop in the city and in the business | | |community | |Present all over the world (in 47 countries) | | | |Lack of enthusiasm | |Anti animal testing practices | | | |Failure in different countries: ex France, USA.. |Good manufacturing and wholesale | | | |Big problems with franchises | |Reorganisation to the firm to a management group | | | |Lack of adaptation to the needs and preferences of overseas markets | |Importance of the environmental friendliness |(ex: USA) | | | | |Strong corporate culture in the firm ( involvement of the staffs in |Not a strong retailer | |the campaigns) | | |Important financial losses | |Products naturally made | | | |Products and concepts easily imitated | |Uniqueness of the products in term of its packaging | | | |Too much importance in launching environmental projects and too less| |Strong identity |in running business | | | | |Different suppliers from different ethnics and groups |Followers in cutting prices | | | | |A.Roddick: ethical and strong leader |Prices more expensive than the other competitors | | | | |Importance of staff selection |Lack of advertising | Question 2 Applicability and effectiveness of new CEO Patrick Gournay’s strategies P. Gournay was a business man with experiences. He wanted to create a new strategy for The Body Shop in order to be a unique brand, different to the others. This strategy was focus on different point: – Be faster to launch new products (less than one year). – Redesign the stores to satisfy the customers and to improve the brand’ image. – Cut the number of products by 25%, to be focus on â€Å"heritage† products. – Acquisition with Cosmo Trading for ? 7 million to have more control on European operations – Restructuration New products with a strong Body Shop’ identity: Hemp, differentiated products – New leaders hip – Reclarify the mission and vision of the company: be a strong retailer – Outsource manufacturing and find manufacturing partners in each region – Cut administration costs – Decentralization in 4 main regions – Focus on customer satisfaction Even if some problems were still present in UK and USA, and if some periods were more critical than the others as Christmas for example, the P. Gournay’s 2000 strategy was a new life for The Body Shop. After some mistakes due to bad choices and a lack of experience in the cosmetic industry P. Gournay planed a real revolution in The Body Shop organisation.In a result of this revolution, profits rose by ? 9 million to ? 271 million compared with the same period in 1999 and most of his objectives were achieved. These elements show a very good execution of his strategy. It is always easier to plan a strategy but the implementation of it relieve to strong efforts in leadership and management. The organisa tional changes that is to say the restructuration as well as the decentralization of the company were very good strategic changes. It permits to share the responsibilities and to involve more the employees in this new strategy. P. Gourmay is a strong leader, he had the capacity to believe in The Body Shop future and to be fast to react.It understood the needs of the markets in creating new products as well as new services as home selling. He also wanted to be more customer oriented, improving the brand image thanks to the redesign of the shops and developing marketing tools as customer loyalty program in UK. Even if his lack of experience in the beauty industry was claimed, he was able to refocus the company to be a strong retailer. The results of his strategy have been done by better profits, share value and sales. Gourmay looks to be a good communicant, he explained numerous times his choices and the aim of his strategy, this step is important to create a strategy-supportive cultu re.The applicability and effectiveness of his strategy have been recognized by analysts, by the business community but also by all the company. Section B Question 3 Vision and Mission †¢ A mission statement focuses on current business activities — â€Å"who we are and what we do† The Body Shop is a global business, based on ethics, his products are known and famous for their naturally and because they are not tested on animals. The Body Shop is an organization with strong values and identity. The Body Shop was one of the first organization focuses on social responsibility and fair trade. The Body Shop offers natural cosmetics and personal care products. They have services as home selling and massages in their shops.With ageing of population and the importance of well being nowadays, customers have strong expectations in terms of quality and excellence. The sustainable development is a recent value in our society and customers expect companies as The Body Shop to r espect it. The Body Shop is a good retailer; it has manufacturing partners in each of his four region area. This organization has the capacity to create new 100% natural products and to be involved in social causes. †¢ A strategic vision concerns a firm’s future business path — â€Å"where we are going† The Body Shop should gain market share and extend his leadership position in the cosmetic industry worldwide. They should be more famous and extend their brand awareness all over the world.The Body Shop will follow with his ethical values and develop new products and services in order to be more competitive. In other words, The Body Shop has to create new opportunities to leverage their brand globally. To achieve these goals, The Body Shop has to pursue and to improve the broader corporate goals of profitable growth and continuous improvement. The Body Shop should: – Achieve world-class performance by attaining a strong competitive position in target markets. – Exceed customer expectations for quality and value. – Earn in excess of the cost of capital over a business cycle. These elements can be reaching thanks to: – The distinguished brand The heritage of integrity and teamwork. – The advanced skills – The special relationships that have long existed between the company and the employees, customers, dealers and other business partners around the world The Body Shop has to pursue his natural products based more on well being than beauty. They have to follow their politics about ethics and fair trade and stay oriented by the environmental friendliness. The Body Shop has to be focus on customer satisfaction. The management has to be more profits oriented and be more aggressive in order to survive. †¢ Types of business , the body shop should be in: The Body Shop should open his shops to new customers.Nowadays there is a new market with men and old people. They should segment their products an d adapt them to new consumers’ needs and expectations. They also should create and develop a friendly website where customers could see all of their range of products and buy them online. Question 4: Financial and strategic objectives: Financial objectives: Outcomes focused on improving financial performance ? Achieve revenue growth of 10% per year This objective is important and it is achievable. Indeed, thanks to P. Gourmay they have reached very good performances in term of profits and sales. This objective will be the consequences of the new strategy implementation.It also will be the results of a better customer satisfaction and brand awareness. This objective can be reach thanks to an internal growth as I said before but also thanks to an external growth. It will be interesting for The Body Shop to realize alliances with big actors of the cosmetic industry. ? Increase net profit margins from 2% to 4% As we can see in The Body Shop case, that during Christmas period they have interesting margins. This objective can be the results of scale economies, and costs reductions. Strategic objectives; Outcomes focused on improving long-term, competitive business position. Different strategic objectives could be developed: ? Have more attractive products than rivals Be more focus on customer satisfaction ? Gain customer loyalty ? be more innovative ? Gain recognition as a leader in natural products We are going to focus on 2 main objectives: ? be more focus on customer satisfaction This element is key point to ensure the future of the Body Shop, they have to be more customer oriented, to understand their needs and expectations. If customers are satisfied and feel considered, they will be naturally more loyal. As we know, a loyal customer is cheaper than a new customer. Different tools will be developed in the new strategy in order to reach this objective. Moreover, The Body Shop will have a new strategy to obtain new customers. Gain recognition as a leader i n natural products The core competency of The Body Shop is his capacity to create natural products. To gain market share, they should use this element and work on it in order to be recognize as a leader in the natural cosmetics industry. This element will give to the Body Shop an excellent and famous branding image. The Body Shop will have an image of â€Å"specific† companies, with strong skills and know-how. Question 5 Corporate and business strategies In order to reach the financial and strategic objectives gave above, The Body Shop has to realise some actions to be more and more competitive during the five next years: The Body Shop has to follow his strategy of differentiation by launching natural Products with elements from all over the world. â€Å"The essence of a broad differentiation strategy is to be unique in ways that are valuable to a wide range of customers. † (Hough, J et al: 2008: 152) To be very effective, The Body Shop has to study consumers ‘ne eds and behaviours to understand what they consider important, what they think has value and what they are willing to pay for. This buyers study will help them to create new products and services perfectly adapted to consumers’ expectations. It they follow this strategy and tried to be totally different, the consumers will accept to paid more and will be able to identify them to the brand.This strategy needs also to have a strong corporate culture based on innovation, the human resources have a strategic role, they have to recruit creative employees. The employees have also to be trained in order to be innovative and creative. – Have a bigger brand awareness is necessary for the Body Shop. That is why they have to invest more in marketing. They already have a strong identity but they have to diffuse it thanks to new media opportunities. The communication is an important element, more advertising campaign will add value and increase brand awareness. A powerful world adv ertising campaign will be interesting. As the Body Shop is a brand with strong values and politics, they should realise a different campaign as â€Å"Benetton† has done few years ago.In this campaign, they have to be different and to communicate about their natural products, that is to say their specific skills, their high quality and excellence. The campaign will be a â€Å"paper† campaign or a TV one, if the budget allows these expenditures. – As I said before, The Body Shop has to be customer oriented. They should realise a friendly website where customers will be able to see their range of products and services and where they would be able to buy online products. It will permit to customers to have good references and to be easily found on the world wide web. The website will permits to the organization to be more attractive and to attract a maximum of internet users. The organization should develop his customer loyalty programs all over the world. People li ke to be considerate as a specific customer and expect to have a â€Å"specific treatment†. The loyalty card encourages consumers to be loyal in order to receive presents and special offers. – They also could extend their services: Selling at home should be proposed in numerous countries. Customers love being the main interest of the companies. With this service they feel caring and have the feeling to have customized services. We have also seen that additional services as massages have increase the sales. People after having a nice moment want to buy the products used during this time.The Body Shop should propose services as sauna and hammam for example. – The Body Shop should not stay a niche market. The new trends and lifestyles give them big opportunities. They should realise a segmentation of their products that is to say they should have specific products for men and old people for example. They have to innovate and to adapt them to the changes. – T he Body Shop is already a global company but they should be present in other market as India, an emerging market. The beauty is an important value on this country, and the Indian beauty is known all over the world thanks to L’Oreal’s muse. This new market can ensure new sales and market shares, it is a new opportunity. The Body Shop should adopt a more aggressive strategy; the competition should not be underestimating. The company has to be more profit oriented. To reach their objectives, they can realise some alliance with a big brand as L’Oreal. Indeed, this alliance will permit them to shares their resources and capabilities in technology and innovation for example. It will help them to realise new products. – The creation of new products will also be strategic elements in specific period as Christmas. The Body Shop should realise limited products to give exclusivity to some customers. With specific range of products for this specific period, The Body Shop will improve his differentiation.All these changes require strong involvement of the management and employees, The Body Shop has to be more reactive, and they have to adapt them of their environment: lifestyles etc. As Gourmay done, the company has to change its structure when it is not adapted in order to be profitable and to promote innovation in the company. The culture has to be supportive and be oriented on differentiation and creativity. The resources are necessary to invest on an advertising campaign for example, but these marketing tools can lead to an increase on sales, market share and profitability. The company has to think regionally and globally in order to be present in new market as emerging market.The control is an important step, it is important to evaluate the actions done and to learn from the mistakes. The evaluation permits to have a continuous improvement, The Body Shop should be more control oriented. Question 6 Balanced scorecard for The Body Shop |THE B ODY SHOP | |HEAD OFFICE | |MAIN OBJECTIVE: | |Increase their market share all over the world, be a leader in natural products and have a better brand awareness | FINANCIAL |CUSTOMERS |INTERNAL |LEARNING AND GROWTH | | | | | | |- Refocus on retailing |- Increase their satisfaction |- Reinvention of The Body Shop |- Training of employees to be | | | |brand |more creative and innovative | |- New market shares: |- New products and services | | | |Selling in new market: India |(massages.. |- New structure |-Profiling the staff | | | | | | |- Revenue growth of 10% per year |- Better adaptation to each |- New strategy, plans and |- New staff: recruitment | | |countries’ needs and preferences |leadership | | | | | |- Innovative culture | |- Increase of the share price |- Better communication |- Products line and distribution | | | | |channels rationalized | | |- Selling new products |- Customer retention | | | | | |- Decentralization of the | | |-Selling to new consumers |-Customer acquisition |management | | | | | | | |- Alliance with cosmetics |- Redesign the stores, better |- New values: quality and | | |companies: L’OREAL for example |brand image |excellence | | | | | | | | |- More customer information |- Regulatory control | | | | | | | | |- More prominently |- Be a good corporate citizen | | | | | | | | |- More loyalty programs | | | References – Hought, J. Arthur, A. Thompson, Jr. Strickland III, A. J & Gambie, J. E. 2008. Crafting and Executing Strategy. McGraw Hill International Edition. – Piercy, N. The Body Shop. A case for burial or rising from the grave? – The Body Shop values report. 2007.

Energy Demands Alternative Energy Resources - 1368 Words

Can growing energy demands be met safely and efficiently? My talk today is about energy especially about energy demands. What is energy? In physics, energy is defined as the capacity to do work. This capacity is very important to our daily lives, business, and education and even for the national security. This is why it is so important for world to meet the growing demands of the energy. According to Global future studies research stated that there are 1.3 billion people are living without electricity today, which is 20% of total population and that 2 billion of population, is expected to be added to world population between now and 2050. Moreover, countries like BRICS (Brazil, Russia, Indonesia, China, South Africa) under rapid growth†¦show more content†¦(Economic Watch, 2010) Moreover, the one of the most developed country United Kingdom also dependent 85% of their energy consumes on fossil fuels. (Quaker Peace Social Witness, 2013) Those two examples is the indicator that telling us how much our economy is heavily dependent o n fossil fuels. It is a well-known fact that fossil fuel reserves are not infinite and this heavily dependent on limited fossil fuel is the one of key reason that boost the apprehension of that we might not able to meet the demands of the energy. However, luckily the world trend is heading to decrease dependency on fossil fuels. For instance, according to the International Energy Agency it identified that demand of bio fuels has been growth steadily from 16 billion liters in 2000 to 100 billion liters in 2011. (International Energy Agency) In addition, there are alternative power resources rather than biofuels to substitute fossil fuels such as Photovoltaic (PV) Solar Power, Wind Energy, Geothermal Energy, Hydroelectricity and etc. Lastly, the development of technology can be a breakthrough to meet the growing demand energy. 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The continued use of oil in its many applications is a dominant cause of air and water pollution, which isRead MoreNatural Resources are Being Depleted1672 Words   |  7 PagesThe natural resources of Earth continue to be used more and more each year. Coal and oil are consumed with incredible speed and about 28 percent of the total energy derived from coal and oil. Earth is becoming airless balloon and the human population is rapidly growing. These natural resources are not renewable. The world needs to stop pertaining to be blind about environmental crises. We need to start working on alternative energy th at will protect our environment while maintaining energy dependentRead MoreRenewable Resources For Renewable Energy Essay1157 Words   |  5 Pages Renewable Resources used to be a source that was futuristic and far beyond the time period. Fossil Fuels are damaging to the home that is named Earth. Americans should support the production of renewable resources because they are more efficient, the world will experience a decline in the emission of Fossil Fuels, and the use of of WWS (Wind, Water, Solar) Resources will produce a more resilient source when compared to the sources that in effect now. WWS Resources produce more efficiently thanRead MoreFossil Fuels And Its Effect On Our Health1195 Words   |  5 Pagesthe primary source of energy in Canada because of the inexpensiveness, but they are immensely affecting our society and environment. Fossil fuels have been our primary source of energy from a long time which accounts for a substantial amount of the carbon dioxide in the air. The demand for fossil fuels is still high and the supply is slowly decreasing since we have been using it. We should retire fossil fuels and standardize the use of alternative energy. Alternative energy is inexhaustible so it