Public Relations: Source of Competitive Advantage in the Fashion and Luxury Goods Industry

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Public Relations: Source of Competitive Advantage in the Fashion and Luxury Goods Industry Emanuela Gricia 4 The emergent strategy is referred to an ongoing process of constant learning, experimentation and risk taking. This approach takes into account Mintzberg (1994) 5 Ps for strategy. The strategy can be: a Plan, a set of guidelines to deal with a specific situation; a Ploy, a specific action to outwit a competitor; a Pattern, a strategy cannot only be ideated but must be also realised. Therefore a strategy is not only a plan but also a set of behaviors (intended or not) and actions, and consequently it can be defined as a pattern; a Position: Strategy is a way of locating a company in an industry or environment. With this definition the strategy becomes the bridge that links the organisation with the environment. Perspective, the strategy is a point of view based on the perception that the organization has of itself and the environment. The perspective has a strong influence on the organisation’s behavior. The most used approach is still the deliberate or rational one because it is the only that can systematically analise the organisation’s success or defeat. 2.2. Industry analysis The industry in which the organization operates is the main environment that needs to be analysed. However there are external factors, belonging to the external environment, such as Economic, Technological, Political-legal and Sociocultural forces that need to be monitored to secure the long-term success of the company even though such factors do not directly influences the short-run activities of the organization (Wheelen & Hunger 2006, p.73). An industry is a group of firms that produce products or services and that are in competition with each other. Each industry has different structural characteristics that affect the profit and success of the firms operating in that specific sector. The most diffused model to classify and analyse an industry and defined the level of competition is the Five Forces model by Michael Porter (1980, fig. 2.1.). The five forces include three sources of horizontal competition (threat of substitute products or services; threats of new entrants; rivalry among existing firms) and two sources of vertical competition (bargaining power of buyers; bargaining power of suppliers, an additional threat is sometimes given by the power of unions, governments and special interest groups). Each force may have different levels of intensity: in general, the higher the intensity of the threats the lower the profit of the firm in that industry.

Anteprima della Tesi di Emanuela Gricia

Anteprima della tesi: Public Relations: Source of Competitive Advantage in the Fashion and Luxury Goods Industry, Pagina 4

International thesis/dissertation

Autore: Emanuela Gricia Contatta »

Composta da 57 pagine.


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