The Business Environment: A2: Individual Reflective Performance Report

BMA4000-20

The Business Environment

A2: Individual Reflective Performance Report

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Introduction

This report analyses the strategic management process conducted for a prominent Private Limited Company operating in the fast fashion sector. The main characteristics of the company are It has been in the market for the last two years and it is operating in a very dynamic and competitive environment. The business problems presented in the case study will be solved using the Applied Practice Establishing a Framework identifying the approach I would use, and the report will assess it using Gibb’s Reflection Model. The steps included in the strategic business decision-making in this report comprise of analysis of the internal and external environment of the company, competition identification, customer demographics, promotion strategies and management of social and environmental issues and operation constraints because the company is a private limited company. Below is a visual representation of the decision-making process: In writing this report, Gibb’s Reflection Model will be used starting with description moving to the feeling, evaluation and analysis sections and then the summary and action plan sections.

Reflective Performance Report

Figure 1: Gibb’s Reflection Model

Source: (Author 2024)

Description

Case Study Overview: The company at which I am working is a fast fashion company that provides trendy clothes that are friendly to the pockets of various customers (Brooks, 2019). Founded just two years ago and is in a market that is made up of more than 11,000 stores and over 100,000 clientele. Another challenge faced by the company is social and environmental problems that it faces and yet stays competitive and appealing to a customer who is becoming socially aware (Morrison, 2020),

Approach to Preparation: First, I had to complete a SWOT analysis to determine some of the opportunities and threats together with the strengths and weaknesses within this industry. I especially focused on the competitors, customer profiles and customer characterise or customer analysis. Besides, working on merchandising communication, I identified promotion tactics, chose the correct marketing communication media, and proposed directions for the company's response to social and environmental challenges (Zatwarnicka-Madura et al., 2019). Finally, I discussed the effect it has on the company and its functioning being a private limited company.

Feelings

In its inception I assumed that the case study would be filled with goals to solve and exercises to complete, which include but are not limited to; the following: I assumed these tasks would be doable, though I had anxiety about confronting social and environmental issues associated with the fast fashion company (Zhang, Zhang, and Zhou, 2021). The challenges and nature of these issues increased worries about the possibility of realising pragmatic solutions that would incorporate sustainable practices.

I thought Gibb’s Reflection Model had a structure which would help in preparing the reflective report. But soon I figured that to provide critical reflection of approaches and outcomes which is inherent in this assignment, deeper analysis is needed than what I was prepared for. The processes of analysing experiences included a considerable level of criticality by defining the feelings, assessments, and consequences of my actions. This level of analysis made me analyse the case on a deeper level and probably helped me look at matters with aspects of professional development and the business environment differently (Boddy, 2019). This experience underlined that to manage complex affairs and topical problems one must focus on the crucial factors and learn how to make strategic decisions in the field of fast fashion.

Evaluation

Reflection on Case Study Process: Some of the things that I learned from the seminars are the details of the fast fashion industry and the essence of holistic strategic management. It was easy to make a SWOT analysis and understand social and environmental threats and opportunities, the key was to come up with ways and solutions to tackle social and environmental concerns given current industry practice and consumer expectations (Puyt, Lie, and Wilderom, 2023).

Reflection on Report Preparation: In so doing, writing the reflective report enabled me to evaluate the decision-making process. Whereas the elements of the analysis such as the strengths, weaknesses, opportunities, and threats together with the research on competitors were clear, I struggled to identify promotional activities that would be suitable in line with the company’s strategy and the promotion of its social and environmental responsibilities.

Reasoning Behind Outcomes: The reason for the success of the SWOT analysis and identification of competitors was that there was sufficient data available regarding the industry. However, it became clear that due to the complexity of social and environmental problems more precise and less conventional approaches are needed, which, unfortunately, I did not foresee before starting the project (Virine and Trumper, 2019).

Analysis

Knowledge and Concept Development: From the process I was able to learn about the fast fashion industry and the social and environmental issues it has. I also strengthened another important aspect of decision-making, which involves the evaluation of the internal company resources and the market conditions.

Confidence Development: Completing the case analysis and writing the reflective report helped me gain confidence in problem-solving various business situations as well as identifying potential solutions that will ensure the company's objectives are met while being socially responsible (Van Aken and Berends, 2018).

The end of the case analysis and the reflective report enhanced my ability to approach different business situations. I developed greater proficiency in determining possible solutions that would not only satisfy the companies' goals and objectives but also take into consideration social responsibility. The approach to learning that was imparted by this process was the ability to get different views when it comes to the strategic part of it (Mckeown, 2019). What I have come to realise now, is that I am more prepared to confront difficulties, handle risk and come up with relevant solutions that could extend a moral outlook towards sustainable development.

SWOT

Strengths	Weaknesses
Affordable Pricing: The company provides fashionable apparels at low cost and thus attracts a wide customer demography. Fast Production Cycle: Opportunities include being able to produce new designs in the shortest time possible and produce trendy products. High Demand: It has been established in a growing sector where there is a great demand for fast fashion among consumers (Niinimäki et al., 2020.).	Environmental Impact: Large volumes of water consumption, chemicals, and production-related greenhouse gas emissions. Ethical Concerns: Situations such as underpaid employees or potentially dangerous working conditions might cloud the company’s reputation. Limited Brand Recognition: Another disadvantage is that as a relatively young company (2 years of existence) the brand is not likely to be as recognisable as Zara’s or H&M’s.
Opportunities	Threats
Growing Market: The trend of fast fashion indicates that customer demand is constantly growing which means that markets can expand and develop. Sustainability Initiatives: Chances to enhance brand associations through the implementation of eco-initiatives, for instance, recycling initiatives or shale packaging. Digital Marketing: Expanding the reach of its marketing campaigns using social media and online tools to engage customers	The fast fashion market is incredibly saturated, and the large contenders are Zara, H&M, and Uniqlo among others (Krause, 2018). Changing Consumer Preferences: Enhanced consumer consciousness of ethical and environmental considerations may potentially alter the demand for slow fashion. Regulatory Risks: Possible rising regulations on environmental and labour standards, might lead to higher expenses and a negative effect on profitability.

Conclusion

My expectations when coming to the case study included the fact that the case would entail relatively conventional strategic management tasks. However, over time I found out that there might be a need to look at things concerning fast fashion from a different perspective. I further verified that the framework of the strategic business decision was properly implemented particularly on the assessment of the internal and external environment that included strengths, weaknesses, opportunities, and threat analysis besides the analysis of the competitors. The ideas and experiences that I got from the seminar, as well as the other seminars that I did in this course, helped enhance my approach. The models which included SWOT and competitive analysis models were instrumental in solving the case study. These models served as a guideline in assessing the company's operating and strategic environment. Suggestions for Improvement: Even though all the strategies formulated were quite good I would have loved to open more creative minds to other social and environmental issues to come up with even better solutions.

Action Plan

Objective	Action	Specific	Measurable	Time-bound
Enhance Sustainability	Research sustainable materials	Test three eco-friendly fabrics	Reduce water usage by 10%	Within six months
Increase Knowledge	Attend sustainability training	Enroll in two relevant courses	Develop a sustainability policy	Within six months
Improve Digital Marketing	Launch a sustainable campaign	Share eco-friendly content on social media	Increase engagement by 20%	Within three months
Foster Ethical Relationships	Conduct supplier audits	Audit key suppliers	Achieve 80% compliance with ethical standards	Within eight months
Continuous Learning	Stay updated on trends	Read industry publications weekly	Propose two new initiatives per year	Start immediately

Conclusion

In conclusion, interacting with the case increases the general knowledge about the fast fashion industry and its social and environmental impacts. Applying Gibb’s Reflection Model benefitted me in assessing the various strategies that I used in solving problems and decision-making systems. I also gained confidence in the ability to apply knowledge in solving complex business problems and consider corporate goals integrated with sustainable principles. From here on, I will ensure that these elements are incorporated to promote a responsible and favourable approach to innovations in future projects.

References

Boddy, D. (2019), Management: Using Practice and Theory to Develop Skill, 8^th ed., London: Prentice Hall.

Brooks, A., (2019). Clothing poverty: The hidden world of fast fashion and second-hand clothes. Bloomsbury Publishing.

Krause, E.L., (2018). Tight knit: global families and the social life of fast fashion. University of Chicago Press.

Mckeown, M., (2019). The strategy book: How to think and act strategically to deliver outstanding results. Pearson UK.

Morrison, J. (2020), The Global Business Environment: Towards Sustainability? 5^th ed., Basingstoke: Palgrave MacMillan.

Niinimäki, K., Peters, G., Dahlbo, H., Perry, P., Rissanen, T. and Gwilt, A., (2020). The environmental price of fast fashion. Nature Reviews Earth & Environment, 1(4), pp.189-200.

Puyt, R.W., Lie, F.B. and Wilderom, C.P., (2023). The origins of SWOT analysis. Long Range Planning, 56(3), p.102304.

Van Aken, J.E. and Berends, H., (2018). Problem solving in organizations. Cambridge university press.

Virine, L. and Trumper, M., (2019). Project decisions: The art and science. Berrett-Koehler Publishers.

Zatwarnicka-Madura, B., Siemieniako, D., Gli?ska, E. and Sazonenka, Y., (2019). Strategic and operational levels of CSR marketing communication for sustainable orientation of a company: a case study from Bangladesh. Sustainability, 11(2), p.555.

Zhang, B., Zhang, Y. and Zhou, P., (2021). Consumer attitude towards sustainability of fast fashion products in the UK. Sustainability, 13(4), p.1646.