Strategic Plan, Part 3: Strategic Evaluation

Strategic Plan, Internal Environmental Analysis

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Strategic Plan, Internal Environmental Analysis

The organization’s internal environment

The internal environment of WowBaby Store refers to all the elements that act from within the organization. They include the current employees, the management, and the corporate culture. Some of these elements affect the organization at large and some of them affect the management only. The leadership style of a manager will affect the employees in terms of giving the employees instructions or empowering the employees.

The mission of WowBaby is to bring affordable kids fashion to young parents within the boundaries of America to make kids affordable. So that this may be achieved, we are going to closely monitor our customer behavior, who our suppliers are going to be, what the competitors are doing, who our shareholders are, the financial institutions that are ready to support our core mission and whom do we employ to help us spearhead our mission ahead. With the best approach towards the above-stated factors, we believe that our internal environment is going to be the key pillar to giving our customers the best services while outdoing the competitors with the rightful financial support from the banks as well as support from the shareholders (Stoffels, 1994).

The most important strengths, weaknesses and resources

The strengths

Our operations for the new startup are pegged on the following items that would make us be able to fully function. The first of our strengths is that we have targeted a client base that is constantly looking to have the best for their kids. When we give them what they want, we shall be their priorities in choosing a kids’ clothing shopping partner. Secondly is that we are setting the business in a prime location that has a huge traffic of passersby and this positions us to a wider market.

Weaknesses

Given that we are a new business that we are just launching our business operations, we may not fully be able to counter the competition since we need to first build our existence and have loyal customers. We are going to take a longer time marketing the business. Thus earning may take us a little bit longer

Resources

WowBaby store currently has adequate resources that are enough to start the business operations. Our resources include the following; physical resources include a physical store which is a central operations office location. Human resources include showroom attendants, digital marketers, and customer call center representative to handle our caller s’ queries. Intellectual resources include a huge customer database that we have developed through pre-launch marketing; we have secured a number of partnerships with apparel manufacturers who will allow us to get kids’ clothes from them apart from getting from suppliers alone. Our financial resources include a credit facility of $30000 which will help in operational capital boosts.

Internal environmental factors

Our internal environment is affected by the following factors as mentioned above; the suppliers, the market intermediaries, partners, the customers and the competitors.

In regards to our suppliers, we have a vast number of suppliers who will supply the business with the various brands and designs of children clothing. Another advantage is that they will be stocking the store with clothes and then we pay them based on sales. This will enable us to sell a variety to the customers. The suppliers include Kiskissing, DHgate, Kiddies World Wholesale, and Wholesale Children Clothing among others.

We have a number of companies that have promised to link us to our customers through the delivery of purchased orders. This will put us in a position that we are able to deliver customer ordered conveniently and faster. They include Trucking &LTL, Motorcycle shippers, and Daily Veries

In terms of access to finances, a few banks will be able to offer us credit facility despite acting as a payment gateways. The banks include Cross River Bank, Sutton Bank and Evolve Bank.

Our customers are young parents who are enthusiastically looking for affordable clothing for their children as well as their friends’ children. We shall offer them a variety of t-shirts, tops, trousers, shorts, vests, sweaters, pants, jackets just to name a few.

Competitors

There are already businesses who have ventured into this segment. However, they are facing a lot of operational issues that make the market to have a lot of gaps when it comes to fully satisfying the customers and hence our need to fill these gaps. Currently, we have Zara collections and Chasing Jase boutique.

Competitor analysis

The two main competitors are Zara collections and Chasing Jase boutique, Zara Collections sells women wear, men’s wear, and kids’ wear while Chase Jase boutique specializes only on kids fashion and kids products gifts.

Strengths

Zara collections have a wide selection of fashion products and thus are able to cater for all the shopping needs of families at large. Secondly is that it has a worldwide presence by having its physical stores in all the continents (Kurtz & Boone, 2010). Chasing Jase boutique, on the other hand, specializes in children wear. It also offers free shipping across the US.

Weaknesses

Zara collections offer a limited product range since they manufacture their own brand. This leaves the customers with a few high-end items to choose from. Chasing Jase boutique does not have physical locations and this makes it have very minimal interactions with its customers.

Competitor strategies

Both the two competitors are leveraging on the online presence and issuance of gift cards to attract their customers adding them clearance sale offers.

Organizational structure at WowBaby Store

At WowBaby Store, we are striving to see that all the buying process segments are well represented so that the customers do not experience any inconveniences when buying from us. Our organizational structure is one that has a CEO who is the most powerful person in the company. So that the CEO may be able to execute the responsibilities that he has been given, he has four managers reporting directly to him. They are sales and marketing manager, supplies and logistics manager, business development manager and customer relationships manager.

The sales and marketing manager leads a team that is in charge of social media, in-store sales and branding. The supplies and logistics manager leads a team that ensures the store is well stocked, orders are efficiently fulfilled (Davis & Entrepreneur Press, 2011). The business development manager is in charge of the team that brings on board more partners, suppliers and shareholders. The customer relationships manager leads a team that handles customer queries in social media, in the store and takes customer calls as well as customer complains. Plans are underway to have a finance manager to take care of the business’ finances a responsibility that is currently in the CEO's office.

The organization's competitive position and the possibilities this provides

WowBaby Store boasts the most current and well-informed team that is ready to cause a stir in the fashion market starting with the kids' category. We already have a big number of suppliers; this means that we are going to have the best affordable fashion products for our customers. We will also leverage on the e-commerce concept to scale beyond the horizons of our business (Davis & Entrepreneur Press, 2011). With one-day fulfillment policy, we are confidents that our customers are going to enjoy seamless kids fashion shopping experience which will be packaged with lots of surprise gifts as well as having family fun days to bring together our customers with their families to enjoy being part of a mission.

References

Brooks, I., & Weatherston, J. (2000). The business environment: Challenges and changes. Harlow, Essex: Pearson Education.

Davis, C., & Entrepreneur Press. (2011). Start your own clothing store and more: Children's, bridal, vintage, consignment. Irvine, Calif.: Entrepreneur Press.

Kurtz, D. L., & Boone, L. E. (2010). Contemporary marketing. Mason, OH: South-Western Cengage Learning.

Lester, R., & Waters, J. (1989). Environmental scanning and business strategy. Boston Spa, Wetherby, West Yorkshire: British Library.

Stoffels, J. D. (1994). Strategic issues management: A comprehensive guide to environmental scanning. Oxford [England: Pergamon Press.