Your task You are required to draft a proposal for a new strategic direction for a business that you have chosen to analyse in the first assessment. Assessment Description. In this individual...

MAN302
STRATEGIC MANAGEMENT
STRATEGIC CHANGE PROPOSAL
Table of Contents
Brief Factual Description of Business— Company Overview    3
Offerings    3
Size    3
Location    3
Years of Operation    3
Brief Analysis of Existing Strategy    3
5 P’s Analysis    3
Product    3
Price    3
Promotion    4
Place    4
People    4
Business Model Canvas    4
Changes Required    4
Scope of Adaptation    5
Porter's Five Forces    5
Threats of Competitors    6
Bargaining Power of Suppliers    6
Bargaining Power of Customers    6
Threats of New Entrants    6
Threats of Substitutes    6
PESTEL Analysis    6
Political    6
Economic    6
Social    6
Technological    7
Legal    7
Environmental    7
Proposed Strategic Change    7
Justification    7
Implementation    8
Conclusion    9
References    10
Brief Factual Description of Business: Company Overview
Offerings
Quite popular from its name QuikSilver is a very renowned sports apparel brand. It is specially made for snowboarding and water sports.The brand has successfully created such an image that all over the world people know it for high moral and ethical standards. Consumers are attracted to purchase its products because of its wide range of offerings.
Size
QuikSilver originated as a brand for surfing apparels in 1969 in Torquay, Australia. It is now based in Huntington Beach in California. The brand suffered financial losses for almost six years and then finally planned its turnaround. In September 2015, it filed its bankruptcy. It emerged again in 2016 and it was privately held with Oaktree Capital Management, which became its majority shareholder.
Location
QuikSilver has its presence spread over five continents: Asia, North America, South America, Africa and Europe. It is the owner of more than eight hundred retail stores, which are standalone. Collaborating with various third party retailers has enhanced its presence widely all over the world.
Years of Operation
QuikSilver was surfing as an idea in 1969 when wetsuits were produced by Allan Green with a loan of twenty five hundred dollars from his father. The brand took its birth in 1973 when Alan Green and John Law wanted to make a living in Torquay, Victoria so delved into business. QuikSilver’sBoard short gained a quick reputation in 1975. In 1976 the brand gained its first ever licence to the States.
Business Level Strategy: Brief Analysis of Existing Strategy
The primary business level strategy executed by the Quiksilver is the 5 P’s Analysis. This has been found to be implemented in order to estimate the overall levels of profits and at the same time ensure that the company is sustainable in the market.
5 P’s Analysis
Product
The products of the company recently lacked quality, in which lead to the downfall and ultimately closure of the company through bankruptcy.
Price
The price set for the products of the company is on the higher side, which is one of the prime focuses when the business stage of the company is considered (Coza Sarson¸ 2017).
Promotion
The company implementstheir promotion strategies through the traditional market techniques. Using advertising through billboards and television commercials are specific to the company.
Place
The place where the company operates arethe US and Australia. Both of the market had huge potential for the sports apparel and swim wears.
People
The company targeted the sports and tourism industries. The targeting of the people for the company was done effectively. However, the lack of marketing and techniques to reach them did not make the business profitable.
Current Business Model: Business Model Canvas
The current business model exhibited by the company is measured and evaluated by utilising a Business Model Canvass. The key features include the Activities, value propositions, customer relationships, channels and the segments of the customers. The additional activities include the revenue streams and the cost structure of the model of business.
This has been an effective mode of strategy implemented by the company. However, the Blue Ocean strategy may be more effective in this case, in order to sustain the competitive environment of the market.
Changes Required for the Company
The major changes, required in the system for Quiksilver,are to identify the strategic changes it requires and to implement them. To implementthis, the company needs to change its approach and make the venture profitable. The company should continue to promote the message of customers being the sole of the company. The company must adapt to the current trends and manufacturer products, which add value to the system.
There is little or no use of a market research in the process, which makes the company aware of the current trends in the industry. The huge market competition and the use of high technology in the production process had made it impossible for the brand to continue its competitions. To survive and build a brand on the same value it had tested the computation is an uphill task (Flueler, 2020).
To make the venture profitable market research and the value though the supply chain must run efficiently, the company must change its value proposition to build a system that is dependent on providing scope of growth in the system. The company has huge potential as it has tested as a new venture, the management must make amends for the previous failures and use them to the benefit for the new organisation.
Scope of Adaptation of the Blue Ocean Strategy
The company has enough scope to adapt to the new techniques, by abiding to the Blue Ocean Strategy. Since the company is beginning as a new venture and there is new management in place, it has ample scopes of expansion that is integral to the Blue Ocean Strategy. The company can concentrate on various factors...