Michael Kors Strategy Analysis and Selection
There have been rapid evolvement and transformations in the business world. Every company is striving to become competitive, remain relevant, and position itself firmly in the marketplace. In this regard, most business researchers acknowledge that strategic analysis is the right method of analyzing the position and competitiveness of a company, relative to its internal and external environments (Luna, 2013). The report presents a strategic analysis for Michael Kors Company. The report will analyze the internal environmental factors that affect Michael Kors business operations in the corporate, business and functional levels. A proper analysis of how corporate, business, and functional level strategies align with Michael Kors vision and mission will also be put forth. Further, the report will provide a technique analysis by developing and explaining the BCG Matrix, Grand Strategy Matrix, and QSPM. Also, the strengths and weaknesses of Michael Kors will be analyzed in the report. Industry analysis makes the most crucial element of strategic analysis, and this forms the basis of the report.
Company Background/ Information
Michael Kors founded in 1981 and incorporated in 2002, and is based/ headquartered in New York. The company sells its products to the US market and globally. Michaele Kors designs, markets, retails, and a distributor of branded women accessories and appeals and men apparel bearing. Michael Kors operates in three main segments: wholesale, retail, and licensing (Lutz, 2013). Michael Kors retail operations encompass lifestyle stores, outlet stores, collection stores, and concessions located in the US, Latin America, Asia, Canada, and Europe. Wholesale operations are transacted in Europe, America, and Asia. Michael Kors licenses its trademark on products namely beauty, jewellery, eyewear, coats, swimwear, ties, watches, furs, leather goods, and geographic licenses (Lutz, 2013). Michael Kors sells its apparel, footwear, and….Continue Reading….
Luna, T. (November 25, 2013). Analysts predict small rise in holiday shopping. Retrieved from: https://www.bostonglobe.com/business/2013/11/25/economists-see-slow-growthfor-holiday-retail-sales/tuDfVD1HBY68XFlp1peJPK/story.html
Lutz, A. (November 11, 2013). One Stat That Shows the Stunning Rise of Michael Kors. Retrieved from: https://www.businessinsider.com.au/the-stunning-rise-of-michael-kors-2013-11
Timberlake, C. (March 15, 2012). Michael Kors Brand Takes on Coach in U.S. Luxury Market. Retrieved from: https://www.bloomberg.com/news/articles/2012-03-16/michael-kors-brand-takes-on-coach-in-u-s-luxury-market