Strategic Management of Next Plc Case Study Example | Topics and Well Written Essays - 5000 words

Strategic Management of Next Plc - Case Study Example "If only I knew then what I know now, I would have done things differently". (Halbleib, 1993, 803) public constantly makes this statement after they have implemented the incorrect corporate strategies. As we exist in era of entwining complication, acceleration, and ever changing market, making the correct decision is enormously significant for strategic planning. It is fair-haired to state that each organization and individuals have their sole set of strengths, weaknesses, opportunities, and threats. "It is extremely vital that an organization determines its strengths, weaknesses, opportunities, and threats, as well as the competitors". (Halbleib, 1993, 804) by linking the SWOT examines with the fair scorecard, an association can balance its strengths Boosts its competitions' weaknesses, and optimise its opportunities within the market. Next is a UK based vendor contribution stylish, good quality harvest in clothing, footwear, accessories and home products. The group first and foremost operates in the UK. It is headquartered in Ender by, Leicester, and employs about 39,000 people. The group recorded revenues of 3,283.8 million during the fiscal year ended January 2007, a BOOST of 5.7% over 2006. The operating profit of the group was 507.5 million during fiscal year 2007, a boost of 8.2% over 2006. The net profit was 331.5 million in fiscal year 2007, a boost of 5.7% over 2006. Next's Mission Statement Next's mission is to be the natural choice retailer in the UK for fashion aware men & women who expect style, distinction & quality from their clothing Business Description Next is primarily engaged in vending, and customer excellences management. The group operates 480 stores and has operations in the UK, the Middle East, Asia and other European countries. The group giving its services through five business separations: Next retail, Next directory, Ventura, Next sourcing and other. Other segment includes investment in associates; Choice Discount Stores Limited and Cotton Traders Holdings Limited. The Next trade separation is engaged in the vending of fairly priced clothing for men, women and children. It also sells house wares and furniture through 480 stores in the UK and Eire. This separation also has franchisee stores in Europe, Asia and the Middle East. The group currently has 129 franchise stores in the Middle East, Russia (13 stores), Turkey (5), India and Thailand. The Next directory separation markets women's wear, mens wear, children's wear, home products, accessories and jewellery through direct mail catalogues, phone and a transactional website with more than 2 million active customers. The Ventura separation provides call centre and customer support excellences to NEXT and other companies. It operates across many sectors including telecom, utilities, monetary excellences, travel, media and the public sector. Ventura employs about 10,000 people. It has a call centre in the UK and another call centre in Pine, India, which handles business on behalf of Next Directory and two other clients. The Next sourcing separation has operations in Mainland China, Hong Kong, Romania, Sri Lanka, Turkey, the UK and other locations. It is engaged in the design,