1. EXECUTIVE SUMMARY
Strategic management is a key factor for organisation to success and sustain advantage in competition. The objective of this report aims to provide strategic business plan of Isetan to direct business towards overall goals and objectives. It also includes general interest in decision making and at the same time review short and long term objectives.
Intense competition from competitors have since resulted in a drop of sales profit hence it is important to enhance existing markets which acts as a brand differentiator to increase brand awareness such as incorporating the concept of a supermarket in Isetan at a suburban area, as well as creating strategies for new market developments.
By analysing the external environment using PEST analysis, Porter 5 forces and a competitor analysis allows Isetan to understand their position in the market and to secure its competitive advantage in the industry. The SWOT analysis allows Isetan to examine the internal and external factors of the Company, and to make a strategic decision on the upcoming business objective and goals to improve the overall growth.
By implementing the SAVED framework allows Isetan to evaluate the business and develop a summary to formulate a strategy for the business. The Ansoff Matrix assists to facilitate the process of achieving the Company’s key goals and objectives. A budget is being proposed to forecast the future activities and costs. This allows Isetan to achieve sustainable growth and an enhanced value chain leading to having a competitive advantage in the industry.
The two strategies recommended are “Strategic alliances” and “product diversify & development”. For achieving and sustaining strategic competitiveness, balance scorecard was used to evaluate and control the strategic implementations. Isetan mission is to be a unique department store that places their focus on quality products and services.
Isetan is a Japan retail department store...