Michale Kors is a designer of a wide range of ready-to-wear fashion products and luxurious accessories for men and women. Some of the commonly traded accessories alongside fashion products include watches, eyewear, and footwear. In business, the products are marketed under Michael Kors Collection and MICHAEL Michael Kors brand labels (Michael Kors, 2019). This paper presents a critical critique of one of the analytical reports that were carried out and presented by the designer, Michale Kors. It is aimed to highlight the essential issues that are unaddressed in the analysis.
In the organizational strategic analysis, the author portrays Michale Kors Company's functionality from micro-environmental and macro-environmental perspectives. Notably, the analysis does not bring to light the impact of external environmental factors such as political movements and a legal hindrance to business prosperity. The impacts of these business environments on performance are not well presented in the analysis. The adoption of the internal factor evaluation and external factor evaluation matrices are not well utilized to bring paint a bigger picture of the strengths, weaknesses, opportunities, and threats that influentially engulf the operational environments. Regardless of the universally recognized effectiveness of the IFE and EFE Matrices when it comes to auditing the functional capacities of businesses, these analytical tools have been vaguely applied hence bringing out a multi-faceted position of the organization.
Also, the Boston Consulting Group (BCG) matrix model has been ineffectively used to generate half-cooked findings regarding the position of the fashion business, especially in its operational industry. For instance, despite the assignment of ranks and weighted scores, the analysis does not reveal grounds and criteria that were employed to determine that multichannel distribution renders the business more advantageous to celebrity clientele. Therefore, despite that the conclusive findings might be close to the exact strategic situation in the business, the analysis does not convince strategy change initiators and readers.
Besides, the recommendations put forward do not echo the visible results attained through internal and external analyses. For instance, it contradictory to suggest the company to maximize the use of evident strengths such as a remarkable attraction of celebrity clientele as the major marketing strategy to reach out to Asia and other desired markets. The recommendations laid down do not also match the organizational strategic direction, which indicates remarkably high IFE and EFE total weighted scores (Jiangdong, Johansson, & Jingdong, 2017).
The major strategic analysis tools I recommend for Michael Kors review are SWOT analysis, PESTLE, and Porter's Five Forces analysis. These suggested analytical tools befit the business on account of revealing the internal and external factors that lurk in the operational environments for the fashion business (Anton, 2015). These tools are capable of revealing the business' strategic position and prevalent influential factors that lie in the macro and micro-environments of the business. Findings from these analytical tools could potentially direct strategy formulators toward feasible alignment of new strategies to the external and internal factors that either limit or promote the prosperity of the fashion business (Khan, Alam, & Alam, 2015). Importantly, the Porter's Five Forces tool could reveal the industrial competition and pave the way for improvement approaches (Eskandari et al., 2015).
However, the IFE and EFE matrices are the most compelling analytical components. This is because they are capable of zeroing down to strategic auditing while informing feasibly applicable strategies to catch up with the reduced volumes of sales and share prices. Notably, they ought to be analyzed in an organized and keener manner. Further, these components of the analysis are fully supported by portraying an operational position of the business. In overall, the outlined strategies befit the fashion business due to the potentiality to increase marketing efforts and revamp the operational approach toward addressing deteriorations in performance. However, a clearer strategic analysis could enable the better use of informed strategies to curb the problems facing the business.
Anton, R. (2015). An Integrated Strategy Framework (ISF) for Combining Porter's 5-Forces, Diamond, PESTEL, and SWOT Analysis. Retrieved from: https://mpra.ub.uni-muenchen.de/72507/1/MPRA_paper_72507.pdf
Eskandari, M. J., Miri, M., Gholami, S., Reza, H., & Nia, S. (2015). Factors Affecting The Competitiveness of The Food Industry by Using Porter's Five Forces Model Case Study in Hamadan Province, Iran. Journal of Asian Scientific Research, 5(4), 185-197. Retrieved from: http://www.aessweb.com/pdf-files/jasr-2015-5(4)-185-197.pdf
Jiangdong, B., Johansson, J., & Jingdong, Z. (2017). Research on the Sustainable Development of Mining Industry OHSAS18001 Based on IFE and EFE Matrix. International Journal of Engineering and Technology, 9(6), 485-491. Retrieved from: http://www.diva-portal.org/smash/get/diva2:1092901/FULLTEXT01.pdf
Khan, U. A., Alam, M. N., & Alam, S. (2015). A critical analysis of the internal and external environment of Apple Inc. International Journal of Economics, Commerce and Management, 3(6), 955-961. Retrieved from: https://www.researchgate.net/profile/Md_Alam136/publication/282274921_A_CRITICAL_ANALYSIS_OF_INTERNAL_AND_EXTERNAL_ENVIRONMENT_OF_APPLE_INC/links/56ff003908aea6b77468d502/A-CRITICAL-ANALYSIS-OF-INTERNAL-AND-EXTERNAL-ENVIRONMENT-OF-APPLE-INC.pdf
Michael Kors. (2019). About Us. [online]. Retrieved from: <https://www.michaelkors.ca/info/about-us/s11400064 > (Accessed: March 1st, 2019).
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