Critically evaluate competitive and development strategies, in the context of contemporary strategic management issues.

LEVEL 7 ASSIGNMENT SPECIFICATION

Referencing:

In the main body of your submission you must give credit to authors on whose research your work is based. Append to your submission a reference list that indicates the books, articles, etc. that you have read or quoted in order to complete this assignment (e.g. for books: surname of author and initials, year of publication, title of book, edition, publisher: place of publication).

Disclosure:

I declare that this assignment is all my own work and that I have acknowledged all materials used from the published or unpublished works of other people. All references have been duly cited.

Turnitin: All assignments must be submitted to Turnitin unless otherwise instructed by the Lecturer.

Note: the Turnitin version is the primary submission and acts as a receipt for the student. Late submission of the electronic version of the assignment will result in a late penalty mark. Penalties for late submission: Up to one weeks late, maximum mark of 50%. Over one week late, Refer

YES

Learning Outcomes tested

(from module descriptor)

Assessment Criteria To achieve each outcome a student must demonstrate the ability to:

1. Synthesize the relationship between the external context of an organization and its internal context and their impact on strategy;	· Engagement with an extensive range of relevant and credible literature, textbooks, industrial statistics; and · Sound critical evaluation
2.Critically evaluate competitive and development strategies, in the context of contemporary strategic management issues;	· Knowledge has a well-defined focus, which is extensive, coherent and detailed, with a critical awareness of current challenges; and · Exhibits good understanding of the breadth and depth of contemporary and established views
3. Assess the key factors for the shaping and implementation of innovative strategies;	· Sound critical evaluation; · Ability to deal with complex issues systematically and with creativity; and · Ability to make sound judgements based on data
4. Explore critically the response of management functions to ethical challenges	· Good application of a range of materials and tools; · Good consideration of the context of the application, with perceptive insights; and · Ability to identify problems and propose appropriate solutions in complex and unpredictable contexts

TASK DESCRIPTION – ASSIGNMENT

BACKGROUND / INTRODUCTION

Below is the statement the Esprit’s CEO announced to the shareholders.

Dear Shareholders,

On 1 June 2018, I had the great privilege of being appointed the CEO of esprit Group. Since then, I have spent a lot of time listening and learning. not only have I had conversations with employees in our offices and our stores both in Europe and Asia, but I have also met and visited our wholesale partners and other important business stakeholders. one thing that has encouraged me is that the more I learn about this company, the more I am convinced that we have a fantastic opportunity to realize esprit’s true potential. Here are some of my first thoughts and impressions:

Our BRAND and our unique heritage is one of our greatest assets, and we must do more to sharpen and rejuvenate our identity. We must clearly identify both who our customers are today and who our customers will be in the future. then we must orientate ourselves around those customers and put them at the center of everything we do to become a truly customer-centric organization. the good news is that we already have a unique and extensive esprit Friend data base. this coupled with the deep surveys and analysis that we are currently engaged in, are helping us to build a very clear picture of who we are working for.

Once we have properly identified our brand direction and target customers, we can develop the right PRODUCTS. We must consider style and design, fashion level, quality and price, and how this position fits in the competitive landscape. this will be accompanied by a critical examination of our product development process aimed at bringing the best products to our customers in the most efficient way possible.

Our profitable WHOLESALE business will play a central role in the new direction of the Group. We want to become “best-in-class” in what we offer to our Wholesale partners in terms of products, marketing and other support. We also see a huge opportunity in maximizing our strategic partnerships with third party wholesale ecommerce partners to capture the growth offered by online channels.
A key strength of esprit is our online shop, known as our “ESHOP”. our eSHop has a leading position in the industry, as testified by the best digital fashion store award in Germany1 we have recently received. to maintain this competitive advantage, we must strive to stay ahead of the rapidly evolving world of ecommerce and keep abreast of the changing ways that our customers discover and shop for products.
I am excited about the broad INTERNATIONAL FOOTPRINT of esprit. esprit is well positioned to exploit the vast potential of the fast-growing Asia region – particularly China. our efforts in customer definition will form the basis of our success. A dedicated product team is already working on specific products targeted at this important market.

I am most of all impressed by the quality, commitment and passion of our EMPLOYEES. What I am seeking to do is to define their roles more clearly, to empower them to take greater responsibility, and to enable them to make the decisions they feel are best for the business. Similarly, we need to enhance the agility of our organization to maneuver the Group through today’s rapidly-changing retail environment. it is crucial to be more nimble about the way we do business and simplify the complicated structures and processes within the organization. I am now in the process of formulating the plan to restore esprit back to sustainable profitability. to help me in this exercise, I have appointed a Chief transformation officer who is heading a special task force comprising selected members from within the organization. they have been working closely with me since June this year to gather consumer insights, establish the relevant strategic initiatives, and map out the execution plans. We are achieving good progress on all fronts and I hope to present the plan to the market later this year at our investor Day. As for operations, we continue to realize reduction in operating expenses (excluding exceptional items) across all key cost lines, mainly attributable to savings from store closures as well as implementation of restructuring measures to further streamline operations as the existing cost level of the Group is still too high relative to the size of our business; hence cost reduction will remain an integral part of our strategy. Although details of the plan are yet to be finalized, we have already identified areas where we can further optimize efficiency to reduce overhead costs and achieve additional cost savings.

In closing, I would like to thank all of esprit’s employees and business partners around the world for their continued dedication, commitment and hard work. i am convinced that by working together, we will achieve our common goal of restoring esprit to sustainable profitability and delivering long-term shareholder value. While the road to recovery is still full of challenges, I am confident that we will advance the esprit brand forward and become even more relevant to modern customers around the world. I am genuinely excited about the next phase of the turnaround and remain very confident about esprit’s future. I would like to thank the Board of Directors for their trust in me and for appointing me to this important role. I am truly looking forward to fulfilling my mission, and to bringing esprit back to success.

Source: Adapted from Esprit Annual Report 2017-2018

TASKS

Assume that you are the board member of the company. Please answer the following guiding questions and then set up the strategic formulation and implementation plan.

Question 1

Conduct the macro and micro environmental assessment for Hong Kong casual wear industry.

(Pestle and Porter five forces analysis for HK wear industry and justify)

Question 2

Identify the corporate strategy and business strategy proposed by Esprit recently. Evaluate how effective these strategies are.

(Research past annual report and records to identify its strategy to evaluate their strategies)

Question 3

Based on your responses of the questions 1 and 2, recommend strategies to Esprit in order to improve the strategic performance.

(Gave recommend strategies to response of question 1 & 2) (ie on line business)

Question 4

Critically discuss how you can effectively implement your recommended strategies.

( BCG analysis , check its competitors success ideas to give recommendation, It is important part of this assignment)

LENGTH REQUIRED

5,000 words +/- 10%. Any deviation from this will be penalised.

FORMATTING AND LAYOUT

Please note the following when completing your written assignment:

Writing: Written in English in an appropriate business/academic style
Focus: Focus only on the tasks set in the assignment.
Length: 5,000 words
Formatting: Typed on A4 paper in Times New Roman or Arial font 12 with at least 2.5 centimetre space at each edge, double spaced and pages numbered.
Document format:
Ensure a clear title, course, and name or ID number is on a cover sheet and a bibliography using Harvard referencing throughout is also provided.
Research: Research should use reliable and relevant sources of information e.g. academic books and journals that have been peer reviewed. The research should be extensive.

The use of a range of information sources is expected – academic books, peer reviewed journal articles, professional articles, press releases and newspaper articles, reliable statistics, company annual reports and other company information.

marking criteria and Student FEEDBACK – ASSIGNMENT

This section details the assessment criteria. The extent to which these are demonstrated by you determines your mark. The marks available for each criterion are shown. Lecturers use a similar format to comment on the achievement of the task(s), including those areas in which you have performed well and areas that would benefit from development/improvement.

Common Assessment Criteria Applied	Marks available	Marks Awarded
1. Engagement with Literature Skills	15
– Engagement with an extensive range of relevant and credible literature, textbooks, industrial statistics; – Consistently accurate application of referencing

2. Knowledge and Understanding Skill	25
– Knowledge has a well-defined focus, which is extensive, coherent and detailed, with a critical awareness of current challenges; – Exhibits good understanding of the breadth and depth of contemporary and established views

3. Cognitive and Intellectual Skills	25
– Sound critical evaluation; – Ability to deal with complex issues systematically and with creativity; – Ability to make sound judgements based on data

4. Practical Application	20
– Good application of a range of materials and tools; – Good consideration of the context of the application, with perceptive insights; – Ability to identify problems and propose appropriate solutions in complex and unpredictable contexts

5. Transferable Skills for Life and Professional Practice	15
– Ability to communicate well and consistently in a professional format; – Work is coherent, fluent, well-structured and organize
TOTAL	100

Assignment Mark (Assessment marks are subject to ratification at the Exam Board. These comments and marks are to give feedback on module work and are for guidance only until they are confirmed. )

Late Submission Penalties (tick if appropriate)

GUIDANCE FOR Students IN THE COMPLETION OF TASKS

NOTE: The guidance offered below is linked to the five common assessment criteria overleaf and specifically aligned to the “exceptional” outcome category to which we anticipate students aspire.

Research-informed Literature

Your work must embed and be informed and supported by relevant and credible scholarly material that is accessible in the learned journals listed on the module schedule. You should refer to at least 25 such sources. Additionally, you should refer to text books, current news items and benchmark your organization against other organizations to ensure your assignment is current and up-to-date. High-level referencing skills using the Harvard Method must be demonstrated throughout your work and all sources listed alphabetically within your bibliography.

Knowledge and Understanding of Subject

Your work must demonstrate the growing extent of your knowledge and understanding of concepts and underlying principles associated with the subject area. This means that within your work, you should provide evidence of your growing mastery in critical awareness of current challenges, new insights and the constant need for innovation within the field. Furthermore, a critical awareness of the ambiguities and limitations of knowledge and even understanding, should be considered and examples of such, illustrated within your work.

Analysis

To be considered masters worthy, your work must contain evidence of analysis, evaluation and synthesis. This means not just describing “What!” but also justifying: Why? How? When? Who? Where? And at what cost! At all times, you must provide justification of your arguments and judgements. Evidence that you have reflected upon the ideas of others on matters occurring in the real world of business is crucial to you providing a reasoned and informed debate within your work. Your choice of methodologies to gather data and information must be rigorously defended. Furthermore, you should provide evidence that you are able to make sound judgements and convincing arguments in the absence of complete data, since within the real world of work, we rarely have access to, or know all the information! Persuasive conclusions are especially necessary and must be derived from the content of your work – there should be no new information presented within your conclusion. Your work should aspire to resemble work which is of journal publishable quality.

Practical Application and Deployment

It is essential that you rationalist how you decided upon certain methods, materials, tools and techniques to inform and complete your work. You must demonstrate what informed your decision(s) to apply certain concepts that enabled you to formulate innovative and creative solutions to the challenges presented to you or that you identified for yourself. Plausible, costed and justifiable recommendations are demanded and where these are absent, your work is undermined. Your work should provide evidence that you are growing in mastery in developing cutting edge processes and techniques within the subject area.

Skills for Professional Practice

Your work must provide evidence of your attributes in the application of professional practice. This includes demonstrating that you are highly capable of individual and collaborative working. Regarding the presentation of your work, you must demonstrate your ability to select and deploy the appropriate media that is “fit for purpose. Additionally, you must exhibit your ability to: communicate with an exceptionally high level of professionalism; work professionally, autonomously and within a team; develop leadership skills; and produce/present work that is coherent, cogent and specifically addresses the challenges set for you or you have set yourself. Importantly, your work should be easily understood by specialists and non-specialists in the field.

LEVEL 7 – COMMON ASSESSMENT AND MARKING CRITERIA
	OUTRIGHT FAIL	FAIL	UNSATISFACTORY	SATISFACTORY	GOOD	EXCELLENT	EXCEPTIONAL
Assessment Criteria	0-29%	30-39%*	40-49%	50-59%	60-69%	70-79%	80-100%
1. Research-informed Literature Extent of research and/or own reading, selection of credible sources, application of appropriate referencing conventions	Little or no evidence of reading. Views and findings unsupported and non-authoritative. Referencing conventions largely ignored.	Poor evidence of reading and/or of reliance on inappropriate sources, and/or indiscriminate use of sources. Referencing conventions used inconsistently.	References to a limited range of mostly relevant sources. Referencing conventions not always applied consistently.	Inclusion of research-informed literature, including sources retrieved independently. Some omissions and minor errors. Referencing conventions mostly consistently applied	Inclusion of a wide range of research-informed literature, including sources retrieved independently. Selection of relevant and credible sources. Very good use of referencing conventions, consistently applied.	A comprehensive range of research informed literature embedded in the work. Excellent selection of relevant and credible sources. High-level referencing skills, consistently applied.	Outstanding knowledge of research-informed literature embedded in the work. Outstanding selection of relevant and credible sources. High-level referencing skills consistently and professionally applied
2. Knowledge and Understanding of Subject Extent of systematic knowledge, understanding and critical awareness of concepts and underlying principles associated with the discipline.	Major gaps in knowledge and understanding of material at this level. Substantial inaccuracies.	Gaps in knowledge, with only superficial understanding. Some significant inaccuracies.	Some evidence of knowledge and understanding of current and relevant concepts and underlying principles but with gaps or errors.	Knowledge is generally accurate with a satisfactory understanding of the field of study.	Knowledge is extensive. Exhibits understanding of the breadth and depth of established and contemporary views.	Excellent mastery of a complex and specialised area of knowledge and skills, with an excellent critical awareness of current problems and/or new insights at the forefront of the field. Clear awareness of challenges to established views and the limitations of the knowledge base.	Exceptional mastery of a complex and specialised area of knowledge and skills, with an exceptional critical awareness of current problems and/or new insights at the forefront of the field. A critical awareness of the ambiguities and limitations of knowledge.
3. Analysis Analysis, evaluation and synthesis; logic, argument and judgement; analytical reflection; organization of ideas and evidence	Unsubstantiated generalizations, made without use of any credible evidence. Lack of logic, leading to unsupportable/ missing conclusions. Lack of any attempt to analyze, synthesize or evaluate.	Some evidence of analytical intellectual skills, but for the most part descriptive. Ideas/findings sometimes illogical and contradictory. Generalized statements made with scant evidence. Conclusions lack relevance.	Evidence of some logical, critical thinking and some attempts to synthesize, albeit with weaknesses. Some evidence to support findings/ views, but evidence not consistently interpreted. Some relevant conclusions and recommendations, But not always well linked to other material.	Evidence of some logical, analytical, critical thinking and synthesis. Can analyze new and/or complex data and situations without guidance. An emerging awareness of different stances and ability to use evidence to support the argument. Some conclusions and recommendations, where relevant	Evaluates methodologies, current research and ideas critically and, where appropriate, proposes new hypotheses/ideas. Evaluates and synthesizes complex issues both systematically and creatively. Makes sound judgements and proposes convincing arguments in the absence of complete data. Sound, convincing conclusions / recommendations.	Excellent critical evaluation of methodologies, current research and ideas and, where appropriate, proposes new hypotheses/ ideas. Evaluates and synthesises complex issues systematically and creatively. Makes excellent judgements and proposes convincing arguments in the absence of complete data. Strong, persuasive, conclusions, justifiable recommendations. Work is of conference publishable quality.	Exceptional critical evaluation of methodologies, current research and ideas and, where appropriate, proposes new hypotheses/ ideas. Evaluates and synthesises complex issues at a high level of mastery. Makes outstanding judgements and proposes highly convincing arguments in the absence of complete data. Highly persuasive conclusions. Work is of journal publishable quality.
4. Practical Application and Deployment Effective deployment of appropriate methods, materials, tools and techniques; extent of skill demonstrated in the application of concepts to a variety of processes and/or contexts; formulation of innovative, original and creative solutions to solve problems.	Limited or no use of methods, materials, tools and/or techniques. Little or no appreciation of the context of the application.	Rudimentary application of methods, materials, tools and/or techniques but without consideration and competence. Flawed appreciation of the context of the application.	Some awareness and mostly appropriate application of well established methods, materials, tools and/or techniques. Some appreciation of the context of the application.	A satisfactory and appropriate application of standard methods, materials, tools and/or techniques. Satisfactory appreciation of the context of the application, with some use of examples, where relevant.	A very good application of a range of methods, materials, tools and/or techniques. Very good consideration of the context of the application, with perceptive use of examples, where relevant. Evidence of some originality, innovation and creativity.	An advanced application of a range of methods, materials, tools and/or techniques. The context of the application is well considered, with extensive use of relevant examples. Application and deployment extend beyond established conventions. Originality, innovation and/or creativity evident throughout.	Outstanding levels of application and deployment skills. Assimilation and development of cutting edge processes and techniques.

5. Skills for Professional Practice

Demonstrates attributes expected in professional practice including: individual initiative and collaborative working; deployment of appropriate media to communicate (including written and oral); clarity and effectiveness in presentation and organisation.

Communication media is inappropriate or misapplied.

Little or no evidence of autonomy in the completion of tasks.

Work is poorly structured and/or largely incoherent.

Media is poorly designed and/or not suitable for the audience.

Poor independent or collaborative initiative.

Work lacks structure, organization, and/or coherence

Communication is not clear .

Limited independent work and limited involvement in group activities.

Work lacks coherence in places and in need of amendments to the structure.

Can communicate effectively in a suitable format, but may have minor errors.

Can work effectively autonomously and as part of a team, with some involvement in group activities.

Mostly coherent work and is in a suitable structure.

Can communicate well, confidently and consistently in a suitable format.

Can work very well autonomously and as part of a team, with very good contribution to group activities.

Work is coherent and fluent and is well structured and organized.

Can communicate professionally and, confidently in a suitable format.

Can work professionally autonomously and within a team, showing leadership skills as appropriate, managing conflict and meeting obligations.

Work is coherent, very fluent and is presented professionally.

Can communicate with an exceptionally high level of professionalism.

Can work exceptionally well and professionally autonomously and within a team, showing advanced leadership skills.

Work is exceptionally coherent, very fluent and is presented professionally.

4. Practical Application and Deployment

Effective deployment of appropriate methods, materials, tools and techniques; extent of skill demonstrated in the application of concepts to a variety of processes and/or contexts; formulation of innovative, original and creative solutions to solve problems.

Limited or no use of methods, materials, tools and/or techniques.

Little or no appreciation of the context of the application.

Rudimentary application of methods, materials, tools and/or techniques but without consideration and competence. Flawed appreciation of the context of the application.

Some awareness and mostly appropriate application of well established methods, materials, tools and/or techniques.

Some appreciation of the context of the application.

A satisfactory and appropriate application of standard methods, materials, tools and/or techniques.

Satisfactory appreciation of the context of the application, with some use of examples, where relevant.

A very good application of a range of methods, materials, tools and/or techniques.

Very good consideration of the context of the application, with perceptive use of examples, where relevant.

Evidence of some originality, innovation and creativity.

An advanced application of a range of methods, materials, tools and/or techniques.

The context of the application is well considered, with extensive use of relevant examples.

Application and deployment extend beyond established conventions. Originality, innovation and/or creativity evident throughout.

Outstanding levels of application and deployment skills. Assimilation and development of cutting edge processes and techniques.