Wednesday, November 20, 2019
The Growth Strategy of Zara Essay Example | Topics and Well Written Essays - 500 words
The Growth Strategy of Zara - Essay Example Strengths and the particular faults or weaknesses comprise the internal factors while the prospects and threats comprise the external factors (Torun 7). In terms of the firmÃ¢â¬â¢s strength, it is undoubted that the entire management concerned with its operations ensures quick delivery of new merchandise. This contributes to the efficiency of its operations to a given extent. Moreover, the affiliation has armed itself with ingenious innovators with diverse and creative ideas with regard to its apparel designs that make it be competitive in the marketplace. Moreover, ZaraÃ¢â¬â¢s chain management techniques are ingenious and emanate from the prospective management aptitudes of its management personnel (Torun 7). However, in its daily operations, Zara still portends various weak points in terms of its management, in the case of selling its name to the entire global extent. In this regard, it is factual that the affiliation does not invest much into advertising itself on the global market. Lack of advertisement is a hazard to the business strategy as it is a barrier to the expansion of its services to the international level. Besides, the current advertisements are apparently few and not numerous numbers of prospective customers to the chain are conversant with it. With regard to the external examination of factors, opportunities are available for every affiliation that has a dynamic and effectual growth strategy. Furthermore, Zara is not an exception to them as it has prospects as inculcating online markets where it can sell its merchandise even without bodily contact with their clientele. This makes it possible for immense growth (Torun 7). Moreover, the availability of worldwide markets is another prospect. Additionally, it faces potential threats like overt competition from both worldwide and local competitors.