Business Strategy

Part A

Company name: Next Plc (a business startup plan)

Description: Next Plc is a UK fashion retailer who has been offering beautiful, unqiue, exciting, excellent quality fashion products and accessories for women, men and children. Next Plc also provides homewards as well. There are more than 5000 Next Plc retail stores spread out in UK and Eire. More than three million activities customers lying supporting of international website of Next Plc where company provides fashion products for more than 60 countries in the world.

Task 1: the process of strategic planning

1.1 Vision, mission, objectives

Vision To become an internationally recognized leading independent Fashion retailers

Mission To provide seamless experience to customers through an unique model that will enable, extend and enhance the level of satisfaction of the customers, and create the most loyal brand among them

Objectives  Improving and developing NEXT product ranges, success in which is measured by sales performance.

 Profitably increasing retail selling space. New store appraisals must meet demanding financial criteria before the investment is made and success is measured by achieved sales and profit contribution against appraised targets. The store portfolio is actively managed with openings and closures based on store profitability and cash payback.

 Increasing the number of NEXT Directory customers and their spend, both in the UK and through international online sales.

 Managing gross and net margins through efficient product sourcing, stock management and cost control.

 Maintaining the Group's financial strength through an efficient balance sheet and secure financing structure.

 Generating cash to increase dividends and purchase NEXT shares, when it is earnings enhancing and in the interests of shareholders generally.

1.2 issues in strategic planning process

To enter the industry of retail good contacts needs to be maintained with the corporate world. In addition a...