Introduction:
This module is assessed by two individual assignments, a case study based coursework (Assessment 1) and Poster Presentation (Assessment 2). Details of the assessments are as follows.
Module Learning Outcomes
Upon successful completion of this module, you will have demonstrated.
Knowledge
K1. That you can critically evaluate the theoretical basis for sources of competitive advantage and evaluate their relevance to practice
K2. That you can critique the relationship between organisational vision, strategic objectives, intent, resources, planning and the firm’s environment
K3. That you have an appreciation for the conceptual theories of ‘internationalisation, innovation and competitive advantage’ to different industries and locations
K4. That you can demonstrate critical understanding and application of relevant theories and tools associated with strategic foresight and the need for organisational future orientation
Skills
S1 How to review and present their critical knowledge of selected international business, strategy and foresight literature
S2. Your ability to evaluate an organisations competitive environment, analyse its competitive positions and identify its strategic resources, capabilities and core competences
S3. Your ability to explore global trends and drivers of change with a pursuit of identifying attractive future markets
S4. How to identify the key resources, capabilities and competences for an organisation’s future growth and sustainability
S5. How to use relevant foresight tools to understand and articulate the dynamic nature of a given industry, its future trajectory and develop plausible scenarios
Assessment 1 (80% weighting)
Case study based Individual coursework with a word guideline of 4000 words (plus or minus 10%) to meet learning outcomes K1, K2, K3, S1, S2 and S4.
Case – H&M
The apparel retailer H&M has made an incredible journey since its start in 1947 with a single store for women’s clothing in Sweden to become one of the leading global fashion and design groups. Currently, H&M has 4200 stores in 72 countries and employs around 177,000 employees worldwide. H&M also has a robust online presence, and their products are available on 47 online markets (platforms/ countries). A pioneer in ‘fast fashion’, H&M has positioned itself as a firm that responds quickly to new trends and creates fashion items that are made available to customers both online and in-stores immediately after that.
You are required to answer the following THREE questions that pertain to the case – H&M. For further details on H&M, you may refer to the case study, ‘H&M in fast fashion: continued success?’ (Exploring Strategy, pp- 576 – 583). It is also recommended that you research information additional to the case study to support your arguments. This may be obtained from a diverse range of sources, and you are encouraged to explore the issues in whichever way you deem appropriate.
Question One: Sources of Competitive Advantage and its relevance to management
Critically review the theories of competitive advantage and evaluate their relevance to management. In particular, discuss how such theories could inform H&M managers in their quest to gain sustainable competitive advantage. [40 marks]
Question Two: Firm’s strategy and strategic position
H&M’s home page includes several statements like “We are a family of brands with a shared ambition to make great design available to everyone in a sustainable way. Together we offer fashion, design and experiences that enable people around the world to be inspired and to express their own personal style” (H&M, 2018); “Fashion and quality clothing at the best price”. Drawing from relevant literature, critically discuss how the above statements from H&M align with the firm’s resources and capabilities. [30 marks]
Question Three: The role of innovation and internationalisation in a firm’s Competitive Advantage
Evaluate the relevance of innovation and internationalisation in designing and implementing H&M’s strategy/ competitive position [30 marks]
Assessment 2 (20% weighting)
Individual Poster Presentation to meet learning outcome K4, S3 and S5
As part of this assessment, you are to prepare and present a one-page poster that includes
- Identify trends within the ‘fast fashion’ industry which you consider key drivers for change for H&M and why?
- Are there other megatrends that might be important for H&M?
- Construct (5 or 10 years) scenarios for H&M.
- Using the identification of megatrends and/or scenarios, consider the potential impact of future environmental forces on H&M’s business in terms of threats and opportunities.
Use words and images to present the message. You may use complete sentences, bullets, points or diagrams but be prepared to present/ discuss your analysis with your audience. Your poster should also include your key references/sources.
Please note:
All work must adhere to the University regulations on ‘Cheating, Collusion and Plagiarism’, which are provided as an Appendix in your Programme Handbook. You are encouraged to use ‘Harvard Referencing Style’ and avoid ‘Plagiarism’.
You must submit the poster and the coursework in pdf format or a Microsoft Word file submitted online before the appointed date/time.
Assessment Criteria
The assessment will focus on the level of ANALYSIS carried out. The application of THEORETICAL CONCEPTS studied in the module to the ‘practical’ case study presented. In other words, you should proceed beyond a DESCRIPTION of the company and its actions, and you should be analysing ‘why’ rather than describing ‘what’.
SOLUTION
A competitive advantage entails situations or factors that enable a firm to attain a superior or more favorable position than its competitors. The high levels of competition in the modern business world have forced firms to design different ways to surpass their rivals and enhance their relevance in the global market setting. The theory on competitive advantage assumes that businesses ought to implement policies that lead to creation of high-quality goods and services to sell at high prices in the market. The theory coined by Michael Porter emphasizes on productivity growth as the highlight of national strategies. The four main factors of attaining a competitive advantage for a business include cost leadership, differentiation, defensive strategies and strategic alliances….Please click the purchase button to access the entire copy at $20