Strategic Management
Strategic Management
Question 1 : You are in the business of jewelry making since generations and your business is flourishing; now you are planning to expand your business globally. What Strategic options will you chose for entering and competing in Foreign markets?
Answer :
Establishment Name: Sri Mahavir Jewelry, Estd. : 1938
Jewelry has been part of human civilization for a long time. And today, jewelry is used as symbols for celebrations such as engagements, wedding, and anniversaries. It is also used as symbols for communication and symbols for identity and individualism.
The jewelry retail industry has changed and exhibited growth over the past decade due to increasing income and demand from the emerging economies across the world. The USA remains as the largest consumer for jewelry, followed by China, the Middle East and Japan. The UK and Italy are the largest consumers in Europe.
Sri Mahavir has already established their businesses based out of Johri Bazar (Jaipur) and have more than 30 branches across India. Hence this is the right time for Sri Mahavir to expand new avenues in global jewelry retail business. Thus the firm has decided to analyze global jewelry retailing business and growth strategies to be able to draw conclusions on whether the business model and strategic decisions have an impact on the company’s profitability.
The characteristic of jewelry retail market is a trend towards consolidation with large international players accumulating more and more market share. Market players in this industry include a variety of retailers ranging from small specialty retailers to large international retailers. The large retailers benefit from economies of scale and have the ability to compete on price more intensely. However, small retailers also can be successful by specializing in particular product ranges. The jewelry retailers include some large department stores, supermarkets, hypermarkets and smaller specialty stores. There are a lot
Question 1 : You are in the business of jewelry making since generations and your business is flourishing; now you are planning to expand your business globally. What Strategic options will you chose for entering and competing in Foreign markets?
Answer :
Establishment Name: Sri Mahavir Jewelry, Estd. : 1938
Jewelry has been part of human civilization for a long time. And today, jewelry is used as symbols for celebrations such as engagements, wedding, and anniversaries. It is also used as symbols for communication and symbols for identity and individualism.
The jewelry retail industry has changed and exhibited growth over the past decade due to increasing income and demand from the emerging economies across the world. The USA remains as the largest consumer for jewelry, followed by China, the Middle East and Japan. The UK and Italy are the largest consumers in Europe.
Sri Mahavir has already established their businesses based out of Johri Bazar (Jaipur) and have more than 30 branches across India. Hence this is the right time for Sri Mahavir to expand new avenues in global jewelry retail business. Thus the firm has decided to analyze global jewelry retailing business and growth strategies to be able to draw conclusions on whether the business model and strategic decisions have an impact on the company’s profitability.
The characteristic of jewelry retail market is a trend towards consolidation with large international players accumulating more and more market share. Market players in this industry include a variety of retailers ranging from small specialty retailers to large international retailers. The large retailers benefit from economies of scale and have the ability to compete on price more intensely. However, small retailers also can be successful by specializing in particular product ranges. The jewelry retailers include some large department stores, supermarkets, hypermarkets and smaller specialty stores. There are a lot