Business Strategy Management for ShopHere- myassignmenthelp.com

Question: Discuss about theBusiness Strategy Management for ShopHere Operations. Answer: Introduction It is essential to develop strategies that will ensure quality product and services to the targeted consumers. This research focuses on ShopHere operations, which offer quality products to consumers in Australia and all over the world through e-commerce platforms. In Bangladesh and Uzbekistan, the company experienced consumer boycott due to the cotton labor scandal. The company is dealing with the issue by buying ethically traded crops and bans the use of fur. The target of ethical consumers makes an organization to have a decent reputation in the international market for an increase in competitive advantage (Wheelen and David 2017). Therefore the purchase of raw material of a company is required to be ethical for a sustainable business performance in the targeted market. The study will evaluate primary and secondary sources to come up with the need for business ethics in developing a strategy for an organization (Daspit et al. 2017). Strategies are essential for a team as they provi de a plan to follow in ensuring that there is a continued business advantage in the targeted market. Description of search process Primary and secondary sources will be used to come up with the required information about business strategy. The data will be essential in identifying the importance of considering business ethics in coming up with a plan for an organization (Singh et al. 2016). This source makes it possible to develop a critical analysis of literature about strategic management of an organization. Critical analysis of the literature Strategic management Strategies are plans that are developed by the top management ion ensuring that there is a continuous development of the organization through ethical production. The resources are supposed to be managed appropriately to ensure that there is a financial stability of the company. Its possible for the organization to acquire future success through the implementation of the practical plan in production. The strategic management process involves goal setting, analysis, formation, implementation and monitoring of the strategies. Goal setting is where the mission and vision of the organization formulation ensure that there is smooth flow in the business (Hamari, Mimmi and Antti 2016). This requires identification of the short term and long term goals depending on the projects of the industry. The mission strategy provides guidelines of what the organization deals with a proper management of activities during production. Analysis requires handling of the internal and external issues to maxim ize the strengths of the business while minimizing on weaknesses of the company. The threats and opportunities in the external environment make it possible for an organization to have a sustainable competitive edge in the targeted market (Arli and Denni 2017). Strategy formulation this is where the plan communication to all the stakeholders of the business for the achievement of set long-term goals. After the employees and other stakeholders of the company have the required knowledge about the strategy, it is implemented to achieve set production objectives. Lastly is evaluation and control of actions in the business in ensuring that there is the progress of the strategy (Leonidou et al. 2017). The management expects to formulate plans considering the changing business environment to retain and acquire new consumers in the long-term operation of the business. Business ethics An organization is required to take responsibilities of their actions in the organization to ensure that there is a smooth flow of operation. This is where an organization is supposed to come up with business ethics strategies that make functions widely accepted in the targeted market. Abiding by set rules and regulations of the community makes the organizational ethical for an increase in production level (Font, Lluis and Steve 2016). The process of productions from raw material acquisition to development of finished goods requires ethical practices. Consumers can trust, ethical brands as they are highly beneficial to the society. Engaging in social responsibility practices makes an organization acquire new consumers and retain the existing customers due to the understanding of consumer needs. Business ethics practices provide loyalty to a particular brand to ensure that there is a stable performance of the organization. It is essential to consider employee ethics, leadership, ethic s and organizational culture ethics (Schaper 2016). It possible for the production process to be of high integrity to meet the needs and desires of the consumers. Business ethics improve the organizational culture which is vital in ensuring efficiency in production. Corporate governance Corporate governance is essential in the strategic management of an organization as it considers the interests of all people involved in the organization. It is necessary to find the benefit of the administration and stakeholders to ensure that the rules implemented in the organization are highly effective in dealing with issues considering business ethics (Lins, Henri and Ane 2017). The leaders are required to oversee the performance of the organization making sure that every business process is handled correctly to acquire quality products and services. The policies implemented by the management are required to offer guidelines to the employees and consumers, which are the most critical units in an organization. Strategies that are consumers oriented are highly effective in dealing with issues in the market (Frambach, Peer and Paul 2016). There are two types of stakeholders which, considered in developing effective corporate governance. The internal stakeholders are the one who dir ected impact the performance of the business which is the employees and management. The external stakeholders are beyond the organization control which is the suppliers, creditors, vendors, consumers and the community (Rao and Carol 2016). It is essential for the top management to ensure that all stakeholders are kept happy to maximize the profitability of production. Supply chain management Supply chain management is essential to managing the risk of a business process for a continuous competitive advantage in the market considering the business is ethical. Supply chain requires proper management of the raw material and the finished goods to reduce the cost incurred in production. Evaluation of raw material to well-finished process is essential in reducing waste in manufacturing (Fredendall and Ed 2016). The process assures quality to the consumers due to the following of the set guidelines in production. The inventory of the company requires management to reduce holding time of the stock. Production level should match the demand levels in the market for a continuous improvement of the market share. The administration uses supply chain management techniques in coming up with shipping options in ensuring that the produced goods reach the targeted market. It is essential for an organization to integrate advanced technology into the supply chain management to provide that there is a minimum waste in dealing with inventory (Mangan and Chandra 2016). Proper communication with the consumers, suppliers, and distributors improve the supply chain management making it possible for the organization to identify market opportunities that would enhance the performance. Target consumers It is crucial for an organization to identify the targeted consumer before entering into a new market by considering business and consumer ethics. This makes it possible to develop an effective marketing strategy based on the attributes of the targeted consumers. The management is required to design the expectation of the targeted market to improve products and services to meet the specific needs of the consumers (Gurhan-Canli, Ceren and Gulen 2016). The consumers are expected to be ethical where they consider the business process in coming up with the products and services. This makes it possible for the organization to use the right channels in making the products reach the targeted consumers. Competitive edge This is acquired by producing quality products and services to the targeted consumers to ensure an increased customer base. Delivering quality products is the main contributor to a company gaining a competitive edge from production. This is where an organization develops diverse products that are accepted by a different type of consumers in the market. The management is required to consider the cost and expected revenue in coming up with the appropriate price that is widely accepted in the market (Sekaran and Roger 2016). Quality products at a proper make it possible for an organization to acquire a competitive edge in the targeted market. Literature Gap The literature fails to offer sufficient information for the management to use in coming up with strategic management decisions that are ethical to the targeted consumers. The information is limited, requiring the administration to perform analysis to come up with strategies that will improve the performance of the business. The internal and external analysis is performed by the management so that the plan implemented can provide a competitive edge in the market. The foreign exchange is highly dynamic, making it inaccurate to use earlier sources to develop strategies about an organization. Conclusion From the review, it is evident that strategic management is essential for an organization to acquire set long term of production. Business ethics and effective corporate governance make the products to be widely accepted in the market for a reliable brand. Competitive advantage is essential in making the organization achieve high-profit levels from the sale of products. Quality production at the suitable price creates products and services widely accepted in the targeted market. Summary table Author Name Title Content Arli, Denni, and Arli Denni. 2017 Does ethics need religion? Evaluating the importance of religiosity in consumer ethics Explains the needs of strategies in handling consumers. Daspit, Joshua, Chrisman James, Sharma Pramodita, Pearson, Allison, and Long Rebecca 2017 A Strategic Management Perspective of the Family Firm: Past Trends, New Insights, and Future Directions Indicates the need for business ethics for the future success of business. Font, Xavier, Garay, Lluis, and Jones Steve. 2016 Sustainability motivations and practices in small tourism enterprises in European protected areas. Business ethics Frambach, Ruud, Fiss Peer, and Ingenbleek Paul. 2016 How important is customer orientation for firm performance? A fuzzy set analysis of orientations, strategies, and environments Consumer-oriented strategies Fredendall, Lawrence, and Hill Ed. 2016 Basics of supply chain management. Supply chain management Gurhan-Canli, Zeynep, Hayran Ceren, and Serial-Abi Gulen. 2016 Customer-based brand equity in a technologically fast-paced, connected, and constrained environment. Proper techniques to target consumers. Hamari, Juho, Sjoklin Mimmi, and Ukkonen. Antti. 2016 The sharing economy: Why people participate in collaborative consumption Strategies to handle ethical consumers Leonidou, Leonidas, Christodoulides Paul, Kyrgidou Lida, and Palihawadana Daydanda. 2017 Internal drivers and performance consequences of small firm green business strategy Business strategies and ethics Lins, Karl, Servaes Henri, and Tamayo Ane. 2017 Social capital, trust, and firm performance: The value of corporate social responsibility during the financial crisis. Business ethics Mangan, John, and Lalwani Chandra. 2016 Global logistics and supply chain management. Supply chain Rao, Kathyayini, and Tilt Carol. 2016 Board composition and corporate social responsibility: The role of diversity, gender, strategy and decision making Business ethics Schaper, Michael. 2016 Making ecopreneurs: developing sustainable entrepreneurship. Dealing with ethical consumer through eco-friendly products Sekaran, Uma, and Bougie Roger. 2016 Research methods for business: Business research techniques Singh, Jatinder, Garg Nitika, Govind Rahul, and Vitell Scott. 2016 Anger strays, fear refrains: The differential effect of negative emotions on consumers ethical judgments Business ethics for a competitive edge Wheelen, Thomas, and Hunger. David. 2016 Strategic management and business policy. Acquiring a competitive advantage in ethical purchasing consumers. Bibliography Arli, Denni, and Arli Denni. "Does ethics need religion? Evaluating the importance of religiosity in consumer ethics." Marketing Intelligence Planning, 2017: 205-221. Daspit, Joshua, Chrisman James, Sharma Pramodita, Pearson, Allison, and Long Rebecca. "A Strategic Management Perspective of the Family Firm: Past Trends, New Insights, and Future Directions." Journal of Managerial Issues, 2017: 6-29. Font, Xavier, Garay, Lluis, and Jones Steve. "Sustainability motivations and practices in small tourism enterprises in European protected areas." Journal of Cleaner Production, 2016: 1439-1448. Frambach, Ruud, Fiss Peer, and Ingenbleek Paul. "How important is customer orientation for firm performance? A fuzzy set analysis of orientations, strategies, and environments." Journal of Business Research, 2016: 1428-1436. Fredendall, Lawrence, and Hill Ed. Basics of supply chain management. CRC Press, 2016. Gurhan-Canli, Zeynep, Hayran Ceren, and Serial-Abi Gulen. "Customer-based brand equity in a technologically fast-paced, connected, and constrained environment." AMS review, 2016: 23-32. Hamari, Juho, Sjoklin Mimmi, and Ukkonen. Antti. "The sharing economy: Why people participate in collaborative consumption. ." Journal of the Association for Information Science and Technology, 2016: 2047-2059. Leonidou, Leonidas, Christodoulides Paul, Kyrgidou Lida, and Palihawadana Daydanda. 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"Anger strays, fear refrains The differential effect of negative emotions on consumers' ethical judgments." Journal of Business Ethics, 2016: 1-14. Wheelen, Thomas, and Hunger. David. Strategic management and business policy. Pearson, 2017.