BMA4000-20
The Business Environment
A2: Individual Reflective Performance Report
Individual Reflective Performance Report
Table of Contents
Reflection on the Fast Fashion Case Study 2
- SWOT Analysis 7
- Competitors in the Fast Fashion Marketplace 7
- Current Customer Demographics 8
- Promotion Strategies 8
- Advertising Platforms 8
- Tackling Social and Environmental Issues 9
- Impact of Being a Private Limited Company (Ltd.) 9
Reflection on the Fast Fashion Case Study
GIBB’s Reflection Model
Description
Intended to analyze the fast fashion case studies, considering both opportunities and challenges, of a private limited company under the fast-changing scenario. The company operated under similar business modes as used among others such as Zara and H & M. Like all fast fashion retailers, it designs, manufactures, and markets clothing all at a pace that makes them affordably trendy. But then, the case study talked of how enticing and demerit this method was. On one side, it satisfied a consumer need for variety at very low prices, but raised big fat social-ecological issues: In this case, overshooting thresholds in almost all parameters of overconsumption-from water to greenhouse gas emissions, low-paid and poorly protected labour in manufacturing plants.
Group discussions on the case study were collaborative and insightful along the lines of Tuckman and Jensen, following their group development. The forming stage was where the group worked around the case goals. It was storming when we entered moments of conflict on when to put priority on profitability and when to prioritize sustainability. Because of this, we got to norming by reconciling differences and marking our views along with ethical concerns and competitive advantage. In the end, we performed in producing effective strategies towards the company’s adoption against the challenges in the industry, such as the circular economy principles and sustainable supply chain practices.
Feelings
I was both very excited and partly apprehensive while working on a fast fashion case study. The area is interesting with relevance and complexity; concerns were partly around the ethical dilemmas of the industry. It has led me to an internal debate on ethics and profitability with many questions regarding the practicality of encouraging a fast fashion enterprise to consider an ethics-based approach without compromising its market position.
At the same time, I felt quite responsible for meaningful engagement with the case study. I came to understand that empathy for the organization on business goals and social and environmental consequences was critical to providing balanced and actionable recommendations. There was, however, a sense of group camaraderie as we fought through challenges and pushed each other into critical thinking. Sometimes, however, as a group, we would disagree or arrive at different alignments within ourselves. Therefore, I felt frustrated because, as a group, they sometimes turned our momentum upside down and made it more difficult than it was supposed to be.
I want to provide meaningful solutions to the issues posed, especially those of environmental sustainability and worker welfare. However, I also doubt that I have enough knowledge of business strategies to give sound recommendations. Working in a group alleviated some of this fear due to the perspectives brought to discussions from diverse thoughts. Still, I sometimes got frustrated when there were disagreements, particularly during the storming stage, as it was tricky to align differing opinions on how to approach the case.
Evaluation
The experience of analyzing the fast fashion case study possessed a good and a bad side. It was good because the group discussion produced arguments that were transformed into generating ideas and solutions. For instance, we proposed that the company invest in water-saving technologies and explore partnerships with recycling initiatives like those of H&M and Levi’s. These ideas were reflective of a solid understanding of how businesses could address sustainability concerns without losing their competitive edge. Challenges were also present. One issue was that, from the start, alignment within the group was a challenge. Some members cared only about profit, while others highlighted sustainability, which made it very difficult to progress during the storming stage. Additionally, I found applying theoretical frameworks such as Mintzberg’s strategic configurations and Porter’s Five Forces somewhat challenging to the case. Although these frameworks seem to offer a comparative structure, generating actual strategies towards translating their insights married with practice proved harder than I had envisaged. The dynamics of the group were close to Tuckman and Jensen’s theory. For example, we needed to have established normative practices to have clear roles and responsibilities that would enhance communication and thus make tasks efficient during group work. The second phase revealed the gaps we’ve left in conflict management to indicate that facilitation skills would do well off the charts. I sometimes felt, during discussions in the group, that the problems were too huge for us to deal with. Balancing the demands of sustainability and profit is an overwhelming task, especially for a relatively new entrant in the business fighting for survival against long-standing giants such as Zara and H&M. I wondered whether having these recommendations would implement anything into practice.
Analysis
Studying the fast fashion case study has opened my lenses toward strategic business decisions. One such decision was the most effective in identifying the necessity of merging sustainability with the value proposition of the organization. This assertion was based on Porter’s Generic Strategies, which pointed out that differentiation could take place through ethical and sustainable practices by putting forward reforms, such as following a circular economy model and transparent supply chain practices, as far as risk mitigation would go.
Well, not all decisions were so lucky. For instance, our first reference point was profit, and on the side, we neglected a few points on stakeholder engagement in the initial phase of analysis. It became clear when looking at possible risks like bad publicity due to unethical practices. In addition, it has been so inconvenient for me to analyze the operations of production, like improving the manufacturing process that would minimize resource consumption. Mintzberg’s theories on organizational structures helped a bit, but our recommendations were not developed enough to be put into practical implementations. Thus, the case study highlighted the complexity of strategic decision-making in a fast-changing, ethical-challenging industry, like balancing different priorities of profitability, sustainability, and stakeholder expectations.
Conclusion
After the experience, I realized that there were various areas where I could have improved my approach. Having devoted more time to understanding the fast fashion industry and the challenges therein would have allowed me to prepare nuanced and actionable recommendations. I should thus improve my skill in applying theoretical frameworks like Mintzberg’s and Porter’s to real-life cases. Though insightful framework grounds, I found it difficult to adapt their insights to the specific context of the case. Teamwork further identified other areas I could work on in collaboration and conflict resolution. That would call for stronger facilitation skills, which would help to articulate disagreements in a more effective way at the storming stage. The inclusion of tools like a structured brainstorming format or a decision matrix could also have cut down on the length of time the team spent making decisions.
However, initially, I was very curious but worried about working on the fast fashion case study. I find the topic so close to a real everyday-life issue, and I was also completely on the verge of casting aspersions regarding the ethics of the industry. While I admired the innovation and efficiency driving the fast fashion business model, I found it disturbing to think about environmental degradation and labour exploitation that too commonly underlies such success. I think in the past, these feelings were the distinguishing features of the complexity of addressing ethical and strategic issues in fast fashion, as much as their troubles as their payoffs.
Action Plan
The following actionable measures may give me good performance boosts in case the same situation comes up in future:
Step 1: Understand the Industry Remotely
Commence with an extensive research study on the industry such as its market trends, sustainability challenges, and best practices of top companies to form a strong foundation for analysis.
Step 2: Theory Application Early
Apply theories such as Porter’s Five Forces and Mintzberg’s configurations to formulate the analysis and determine the main strategic priorities right from the beginning.
Step 3: Cultivate Effective Group Synergy
While in the forming phase, designate clear roles and responsibilities within the group. Employ such facilitation methods as rotation of leadership and structured debate to manage conflict in the storming phase.
Step 4: Recommend Practical Solutions
Focus on result-oriented idea generation that can solve both immediate and systemic problems. For example, propose concrete technologies or partnerships that complement the vision and capacities of the organization.
Step 5: Constant Reflection and Learning
At the end of a case, conduct a postmortem analysis to assess what worked and what did not. This reflection may then be used to modify skills and strategies for future real-world case studies.
I will be better placed to tackle the diverse problems in the fast fashion industry and contribute more effectively to group discussions and decision-making processes by implementing these measures.
References
Arakawa, R., Maeda, K. and Yakura, H., 2024. ConverSearch: Supporting Experts in Human Behavior Analysis of Conversational Videos with a Multimodal Scene Search Tool. ACM Transactions on Interactive Intelligent Systems.
Bloomfield, J., 2024. ” But My Favorite Influencer Told Me to”: How and When to Assign Liability to Influencers When Their Followers Commit Torts. U. Ill. JL Tech. & Pol’y, p.371.
Chen, L., Haider, M.J. and He, J., 2024. Should “green information” be interactive? The influence of green information presentation on consumers’ green participation behavior for driving sustainable consumption of fashion brands. Journal of Cleaner Production, 470, p.143329.
Dholakia, N. and Ziliberberg, C., 2024. Change and Legitimation Narratives in the Intertwined Market Discourses of Sustainability and Neoliberalism. Critical Perspectives in the Study of Art, Fashion and Wine: Sustainability and Artification, Berlin: de Gruyter (forthcoming).
Ghosh, J. and Ghosh, R., 2024. Exploration of Fashion Industry Protection as Need of Hour on Intellectual Property. In Illustrating Digital Innovations Towards Intelligent Fashion: Leveraging Information System Engineering and Digital Twins for Efficient Design of Next-Generation Fashion (pp. 397-415). Cham: Springer Nature Switzerland.
Hadi, R., Melumad, S. and Park, E.S., 2024. The Metaverse: A new digital frontier for consumer behavior. Journal of Consumer Psychology, 34(1), pp.142-166.
Huihui, W., Alharthi, M., Ozturk, I., Sharif, A., Hanif, I. and Dong, X., 2024. A strategy for the promotion of renewable energy for cleaner production in G7 economies: By means of economic and institutional progress. Journal of Cleaner Production, 434, p.140323.
Kuruppu, S.C., Milne, M.J. and Tilt, C.A., 2024. Sustainability control systems in short-term operational and long-term strategic decision-making. Meditari Accountancy Research, 32(1), pp.234-265.
Pradana, A.A., 2024. Gap Analysis of Green Supply Chain Management Using Green Supply Chain Operation Reference Method in The Garment Industry (Doctoral dissertation, Universitas Islam Indonesia).
Su, Y., 2020. The Internationalization Strategies of Fast Fashion Clothing Retailer Brands: A Cases Study of ZARA, H&M, UNIQLO, and Gap. Wenzao Ursline University of Languages.
Appendix
1. SWOT Analysis
Strength
There are many strengths of the company which keep it a step ahead in the cutthroat fast fashion market. One among them is their strength to copy high-fashion designs and get them within a certain period at affordable prices, ensuring their holding of a wide range of consumers (Ghosh and Ghosh, 2024). Very budget-wary consumers will fall into the price attractiveness of the company’s affordable options. And because it is in vogue, it will tempt consumers to go forward. Though still barely two years into the market, the company is already beginning to garner considerable brand visibility. |
Weakness
There are weaknesses the company has to address. The rapid production cycles that keep up-to-date designs often compromise product quality, which could lead to less satisfaction with the product and ultimately a poor brand reputation. Then again, being a relatively new player in the market, the company is less likely to enjoy all the efficiencies of the supply chain and economies of scale that are characteristic of the so-called established competitors. Limited investment in sustainable production processes is yet another weakness given the increasingly environmentally aware consumer base (Huihui et al., 2024). |
Opportunity
The fast fashion industry has presented several opportunities for the company. First is the rising demand for affordable stylish wear, which would create space for its wider market share. The rise of e-commerce was an entry point into reaching a bigger, more diverse audience than what the company offered locally. Furthermore, the huge attention on sustainable and ethical fashion is an opportunity for the company to engage in green practices to lure socially conscious consumers (Chen et al., 2024). |
Threats
The company should also be aware of potential threats in the industry. The company’s most serious challenge is fierce competition from established names like Zara, H&M, and Uniqlo (Su, 2020). Also, bad publicity about any crime in labour or against nature would severely damage its respect and sales. That, along with an unstable economy or inflation, would affect consumers’ disposable incomes, which are diamole in turn to the company’s revenue. |
Table 1: SWOT analysis
(Source: Self-created)
2. Competitors in the Fast Fashion Marketplace
To keep pace in the competition for fast fashion, the closest rival retailers in this industry include global giants like Zara, H&M, and Uniqlo. These companies completely dominate the industry on the grounds of their well-established supply chains, extensive product ranges, and wide market reach. In addition, regional fast fashion brands that can serve a particular demographic or market can even harass competition on the grounds of offering local product tastes (Dholakia and Ziliberberg, 2024). The competitive scenario thus calls for improved innovations and more refined strategies to differentiate the company.
3. Current Customer Demographics
The bulk of the company’s customers comprises young adults and millennials, aged about 18 to 35 years, who are interested in staying trendy while comparing all their purchasing decisions against their budgets. These customers are mainly housed in urban and suburban environments, where fast fashion retail outlets are readily available. The target population consists of people from either studying or working at entry-level jobs that allow them some disposable income, depending on their level in their careers. Many of these customers would show interest in activities such as socialization, travel, or some digitally-mediated activities like online shopping and content consumption using social media platforms (Hadi et al., 2024). The psychographic profile of the company’s customers points to their preference for self-expression through clothing.
4. Promotion Strategies
The company is preparing to unveil an integrated marketing campaign that will shine a light on an essential and fashionable company offering. The very first step in this scheme would be to develop a loyalty program where customers would be encouraged to repeat their purchases through discounts and special offers. This is aimed at increasing customer retention and nurturing brand loyalty. Next, the company plans to collaborate with different popular social media influencers, who will come in to assist in creating content about their most recent collections. This influencer sampling would help tap a giant follower base ‘urging the ‘impressionable masses’ to consider buying the items in question (Bloomfield, 2024).
5. Advertising Platforms
It will be an ongoing collaboration that will be part of the overall marketing strategy of the company. It will be in addition to the seasonal sales and other promotional events that your brand uses to keep its consumers engaged year-round. The company will rely on affairs such as mounting a blended approach to online and offline media efforts to reach the target audiences. The use of online forums, for instance, Instagram and TikTok, would allow communication with the audience in the target group by demonstrating visual elements of the product such as outfit ideas and styling tips. These two channels offer the opportunity for participation and all allow targeted advertising by the company. The company would also take advantage of YouTube to upload behind-the-scene clips, tutorials, and testimonials relating to the audience to build emotional affinity with the audience (Arakawa et al., 2024). The sales channels would be integrated e-commerce and the website of the company, complemented by offline modes-the latter namely pop-up outlets and stores in events-paired with digital outreach to deploy a more intimate touch to interaction with customers.
6. Tackling Social and Environmental Issues
The establishment has established a position on the social and international environmental challenges. Accordingly, to address the social issues, the organization proposed to subject its supply chain to a policy of transparency that will assure fair wages with working conditions safe for all employees productive. The company will also engage partners of trust to undertake audits for compliance with ethical standards. In addition, the company is committed to the reduction of the carbon footprint of its products. Searching for and incorporating renewable materials in its collections, including findings from organic cotton and recycled fabrics, are some of the initiatives that this company has engaged in. The clothing recycling program, which greets customers with returns of old clothes for proper recycling or reuse, is also going to be launched (Pradana, 2024). In line with this development, growing public demand for sustainable and ethical practices in the industry is considered.
7. Impact of Being a Private Limited Company (Ltd.)
First, limited liability, meaning shareholders are protected from personal financial loss beyond their investments, is enjoyed by the private limited company. This means that the company operates without financial security, while harbored by attractiveness from investors who appreciate limited risk. Though being an Ltd. presents a company with the obligation of maintaining rigorous financial reporting and compliance standards by filing annual financial statements and, in some cases, adhering to rules of corporate governance. For this element, raising capital is said to be more difficult compared to a private limited company than that public traded firms as it doesn’t issue shares on the stock market but relies on internal funding or private investors. However, it allowed the company to keep the business under more control in its operating and decision-making processes to ensure the institution keeps functioning on track towards long-term goals (Kuruppu et al., 2024).