CH5 Assignment: - Planning and Strategy: Mi Ola case study
Which of the following is an example of a way in which Mi Ola uses core competence to achieve competitive advantage? Check all that apply.
- Helena Fogarty has many years of experience in different aspects of the fashion industry. - An avid surfer, Helena Fogarty is personally aware of what Mi Ola's customers need in a swimsuit.
Mi Ola's managers meet to develop the company's strategy. One of the first things they do is a SWOT analysis. Which of the following would be an opportunity for Mi Ola? Check all that apply.
- Mi Ola partners with an environmental organization to protect the coral reefs and other ocean life off Australia's Gold Coast, a popular surfing destination. - Mi Ola's new line is featured in the magazines Seventeen, Elle, and Monthly Fashion.
When formulating strategy, Mi Ola's managers scan the business environment for factors that will or could impact the company's competitive advantage. Which of the following would pose a threat to Mi Ola? Check all that apply.
- Unlike most clothing brands, Mi Ola contracts with U.S. factories to supply its fabric and manufacture the garments, incurring greater costs than competitors who source from overseas factories. - Several top professional women surfers state in interviews that they feel one-piece swimsuits are much sexier than bikinis, as well as more practical.
In discussing inventory, Helena mentions that bikinis for sale on the website are not always in stock. Say customer feedback indicates that when a customer's bikini won't arrive within two weeks, that customer usually cancels their order. Furthermore, retail stores ordering restocks of items usually find another supplier if Mi Ola cannot ship within two weeks. What would be the best action for Helena to take first?
Decide that when online customers and retail stores order bikinis, they will never have to wait more than two weeks for the order to arrive.
Investors are looking for a "hockey stick" curve in revenues, meaning that they will increase dramatically. ______ would be one way to drive such spectacular growth.
Stretch goals
Helena mentions that she might "allocate one-third of the revenue that I get from e-commerce into the cost for e-commerce." Which of the following accurately describes this statement?
This is a tactical plan.
Helena discusses how she might arrive at a budget for her website. If she decides to hire a consultant to make the website more mobile-friendly and integrate better across social media platforms, which of the following would be true?
This would be an operational plan.
When discussing how she pitches Mi Ola to investors, Helena says her goals and plans are based on a number of assumptions that might or might not be realistic. You might advise her to _______ to deal with this unpredictable business environment.
decentralize planning
In the video, Helena mentions that "your plans are always going to change from day to day" because the business environment changes. She should consider _____ to gain more stability in her planning process.
developing contingency plans
Watch the video in which founder Helena Fogarty discusses her company, Mi Ola. Then use your understanding of planning and strategy to answer the questions that follow. Question 2,3, & 4
https://streamable.com/fgwcz1
