The clothing industry has a high potential for growth to those firms that operate under a good strategy and sound managerial competence. However, the current global financial crisis is having its tolls on global textile and clothing industry, just the same way it has affected banking and automobile industries. Many textiles and clothing companies are winding off. Hence, bailouts from state governments are expected to aid the clothing industry amid global economic meltdown.
The competitive level in Clothing industry is very tense; thus, for a firm to operate adequately in this industry there is the need that an effective marketing strategy is put in place; which would be goal oriented and enthusiastically pursued. For firms like NEXT Plc that is expanding, its operation to foreign countries there is the need that the issue of environment where the expanded business is position, this is critically considered in line with the organization existing corporate culture.
“…a number of theoretical perspectives related to the role of firm-specific knowledge in competitive strategy-resource-based view of the firm, dynamic capabilities knowledge-based view of the firm, organizational learning-have began contributing to our understanding of international strategic alliances” (Simonin, 1999). Moreover, it is germane that modification to existing corporate culture is made to be in tune with the features of the environment that are on g round.
The importance associated with paying attention to a country’s culture and environment in the management of business operation, especially as applicable to clothing business, this is for the organization to operate effectively and adequately apply its resources in order to adapt to the environment and to meet set objectives at the most efficient manner. “Given the global strategic perspective, the corollary that it should be accompanied by a universal standardization is difficult to sustain as such a stance is product oriented and in defiance of the marketing concept.
It is also apparent that different nationalities buy similar products for different reasons and different versions of a product for reasons of values, custom and preference as well as price” (McCall & Stone, 2004:5). To buttress this argument Ulijn et al (2000), illustrated that, “when a multinational firm, such as Philips, operates in the United States, it is accepted almost as a U. S. firm since it is loosely related to the individualistic U. S. society where interaction is explicit, low context, and monochromic.
On the other hand, to be successful in Japan, Philips should behaves as a Japanese firm, where national culture and corporate culture overlap in a tight, collectivistic society where interaction is implicit, high context, and polychromic”. The above illustration shows that every country has its own cultural characteristics and variables that would compact with the environment in which business operation is done.
From the fore going, organization such as NEXT Plc should strategize in a way where the custom in a country, that the national culture is respected. It is not as if one is saying that they should loose their cooperate culture and concepts, due to expansion, but people’s custom, taste, preferences, reasons for patronizing a firm’s product and service, all these are different. So it becomes germane that for the firm to operate adequately well in the international arena, these considerations need be put in place for proper marketing strategy.
The post Future Trends In Market And Recommendation appeared first on Essay Bishops.
Writing quality papers is a TOP priority. One expert takes one order at a time.
The service package includes topic brainstorm, research, drafting, proofreading, plagiarism check, citation formatting, and revisions.
We appreciate how valuable your time is. Hence, we make sure all custom papers are 100% original and delivered within the agreed time frameRead more
Each paper is written from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
We see it as our duty to follow all instruction the client provides. If you feel the completed paper does not meet your exact requirements, we will revise the paper if you let us know about the problem within 14 business days from the date of delivery.Read more
Your email is safe, we use your personal data for legal purposes only and in accordance with personal data protection law. Your payment details are also secure, as we use only reliable payment systems.Read more
You can easily contact us with any question or issues you need to be addressed. Also, you have the opportunity to communicate directly with assigned writer, e-mail us, submit revision requests, chat with us online, or call our toll-free on our site. We are always available to our customers.Read more