Executive Summary and Consolidated Presentation
sheyitqan
InternalandExternalAssessment.pptxInternal and external assessment
About the Industry
Green products are projected to show the fastest growth in the Indian cosmetics industry
There is a rise in Indian consumers’ health consciousness
Increased disposable income among the Indian customers and influence of global styles
The Indian market is also very large
About the Industry
Green products are generally projected to show the fastest growth in the Indian cosmetics industry. This is a great opportunity for the company. This is because there is a rise in Indian consumers’ health consciousness and more people are starting to prefer the use of organic and natural personal care products. People are also starting to become more aware of the various ill-effects associated with the various harmful synthetic ingredients that are present in a number of personal care products. More and more consumers are now turning towards chemical free beauty products in the Indian market (Reuters, 2017). Others factors include increased disposable income among the Indian customers and the increased need for consumers to be health as well as to look good based on the influence of global styles (Anand, 2017). The Indian market is also a very large one because it has a very large population.
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About the Organization
It has up to date labs and professional scientists
The scientists are also well acquainted with the best evidence-based practices in the extraction and refining of natural products
About the Organization
The main strength of the company is its research and development department. It has up to date labs and professional scientists that will be very instrumental in the study and creation of new cosmetic products that are friendly to human use and that will enable the company to stay true to its mission of producing products that are both human and environmental friendly. The scientists are also well acquainted with the best evidence-based practices in the extraction and refining of natural products from natural herbs and other natural sources to produce natural and organic beauty products.
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Applying Assessment Results to Decision Making
There is an opportunity based on Indian people’s preference for green cosmetic products
The company has a vital strength owing to its research and development department
There is an opportunity owing to the large number of potential customers in India
The company should thus pursue this new strategic initiative
Applying the Results of the Assessment to Decision Making
The fact that the Indian people are starting to embrace organic and natural products; and are turning away from beauty products that have synthetic chemicals means that there is an opportunity for organic and natural products in the Indian cosmetics industry. This is an opportunity that the company should explore. The fact that the company has up to date research and development department with well equipped labs and well-able scientists and engineers means that the company is in a good position to come up with new cosmetic products from natural herbs and plants. This is thus a great strength for the company and this is why exploring this new industry should be pursued. The large population is also an opportunity because there is a market for the company’s products.
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Key Issues
The main key issues that will be faced by the company in the Indian industry include:
Stiff competition
Price wars
These two issues, however, will be countered through product differentiation and innovation and cost leadership
Key Issues
The major issues that the company will be likely to face in the implementation of its plan will be stiff competition and price wars. It is important to point out that there already established international players in the market which include L’Oreal, Avon, Lakme, Revlon, Unilever (PR Newswire, 2016), and other local and international brands that have already been established in the market and that have captured their loyal customers. This is going to be an issue considering that consumers will not be aware of our new company and thus it is going to face a lot of stiff competition from these major players. In terms of price wars, the company might face serious price wars from the already established companies as they try to gain the competitive advantage over the new entries. These two issues, however, will be countered through product differentiation and innovation and cost leadership.
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The Preliminary Strategic Initiative Plan
The organizational culture of inclusion and innovation will be very pivotal to the implementation of the plan
Every employee is respected and valued and every individual’s suggestion is also respected
This is going to promote innovation to enhance the achievement of the mission and vision of the company
The Preliminary Strategic Initiative Plan
The organizational culture of the organization is that of inclusion and innovation, which will be very pivotal to the implementation of the plan. It is a culture in which every employee is respected and valued and every individual’s suggestion is also respected. This is going to promote innovation to enhance the achievement of the mission and vision of the company, which is to come up with beauty products that are friendly to both the human body as well as that promote the conservation of the natural environment.
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References
Anand, S. (2017). Indian Cosmetics Industry: A short perspective document on the cosmetics retail sector. Retrieved from: https://redseer.com/wp- content/uploads/2017/10/118-Cosmetics-Industry-Report_Final_July2017.pdf
PR Newswire. (2016). India Cosmetic Market Overview 2016-2021: Research and Markets. Retrieved from: https://www.prnewswire.com/news-releases/india- cosmetic-market-overview-2016-2021---research-and-markets- 300371094.html
Reuters. (2017). India Natural and Organic Personal and Beauty Care Products Market in Depth Study by Opportunities, Key Players, Trends and Forecast 2022. Retrieved from: https://www.reuters.com/brandfeatures/venture- capital/ article?id =23164
Appendix
SWOT Analysis
PESTLE Analysis
PROFESSOR NOTES
There were areas within the assignment that were not substantive or lacked detail to support your work for this assignment. There are slides that do not support your SWOT analysis Please ensure to follow the assignment rubric for all assignments for this class. Your Internal and external analyses is not substantive. You were to have a minimum of 2 different strategic management models for this assignment. What are the key issues for your strategic plan for this course? Your in-text APA citations within your slides were not correct to support your work. Please ensure you proofread your work thoroughly and apply your assignments to the assignment rubric.
