ESTABLISHING A FASHION BUSINESS STRATEGY

SHE Level 5
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code MMN523655
Module Leader Erica Charles
School School of Computing, Engineering and Built Environment
Subject GCU London
Trimesters
  • A (September start)
  • B (January start)

Summary of Content

The module critically examines the processes and actions associated with strategy development and implementation within new and developing fashion businesses. Mindful of the resource constraints that typify new fashion enterprises, the module will evaluate, through the extensive use of case study material, the mechanisms by which small scale fashion enterprises, faced with limited business experience and resource capability can secure differentiation, competitive advantage and commercial success. The importance of clarity in terms of the business proposition will be examined, as will the value of competent market, competitor and consumer intelligence. The various routes to business development and growth will be identified as will the challenges associated with securing funding to support such initiatives. Processes for opportunity appraisal will be identified, as will the factors that contribute to strategy success and failure.

Syllabus

The importance of strategic planning for a new fashion business The strategic review and planning process The route to competitive differentiation and sustainable advantage Identifying a credible market positioning and a compelling business proposition Market appraisal and opportunity evaluation - in domestic and global markets Role of digital technologies for fashion business success Identifying and managing ethical issues Threats to sustainable business success Routes to business growth - securing external support and funding Issues and challenges associated with strategy implementation Reviewing strategy effectiveness

Learning Outcomes

On successful completion of the module the student should be able to:- 1. Critically appraise the purpose and value of strategy development and business planning within a newly established fashion business CW1 + 22. Evaluate the value and form of competitive differentiation for a new fashion business CW13. Demonstrate a critical understanding of the stages in strategy formation and development for a new fashion business CW14. Undertake a systematic analysis of the fashion business environment CW 1 /25. Critically appraise the options for business growth for a new fashion business CW26. Identify and evaluate the factors critical to the success of a new fashion business CW27. Identifying and overcoming barriers to strategic success CW28. Outline the stages of strategy implementation and evaluation for a new fashion business CW2

Teaching / Learning Strategy

Learning and teaching will be carried out through lectures and student led seminars. Guest speakers will provide an insight into the processes of developing and implementing a fashion business strategy. Student-centred learning will be encouraged through directed research and the requirement to present findings in seminars. Case studies, journal articles and conference papers will be used as a basis for discussion and debate. Use will be made of Blackboard to provide additional module material and a discussion forum. Reflective practice will be introduced during workshop sessions to enhance the experiential element of the Teaching/Learning strategy for the programme. In particular, students will be encouraged to identify and utilize the most effective digital communication technologies in order to form, share and communicate their ideas and proposed actions.

Indicative Reading

Essential Reading Campbell, D; Edgar, D; and Stonehouse, G (2011) Business Strategy: An introduction, Palgrave McMillan Davila, T Epstein, M J and Shelton, R (2005) 'Making Innovation Work- How to manage it, measure it and profit from it', Wharton School Publishing DeWit, B; and Meyer, R (2010) Strategy Synthesis, Cengage EMEA, Andover Johnson G, Scholes K and Whittington (2008). Exploring Corporate Strategy. Text and Cases. 8th Edition. London: Prentice Hall Recommended Reading Angwin, D.N., Cummings, S, and Smith, C (2006) The Strategy Pathfinder, Blackwell, Oxford Capon C (2004). Understanding Organisational Context: inside and outside organisations. 2nd edition. FT Prentice-Hall. Chesbrough, H 'Open Innovation', Harvard Business School Press, Harvard Drucker, P (1985) 'Innovation and Entrepreneurship', Butterworth and Heinemann, Oxford. FitzRoy, P; Hulbert, J.M; Ghobadian, A (2012) Strategic Management: The challenge of creating value, Routledge, London Galavan, R., Murray, J., and Markides, C. (2008) Strategy Innovation and Change: Challenges for Management, Oxford University Press, Oxford. Grant, R.M. (2008) Contemporary Strategy Analysis (6th edn), Oxford: Blackwell Kay J A. (1995). Foundations of Corporate Success: How Business Strategies Add Value. Oxford University Press MacLennan, A. (2010) Strategy Execution: Translating Strategy into Action in Complex Organizations, Routledge, London. Teece, D (2009) Dynamic Capabilities and Strategic Management, Oxford University Press, Oxford Burns, L & Bryant, N (2011) The Business of Fashion: Designing, Manufacturing, and Marketing, 4 th Edition, Fairchild. Costantino, M. (1998) Fashion Marketing and PR, BT Batsford Dillon, S (2011)The fundamentals of Fashion Management, AVA Publishing Dunne, P., Carver, J. and Lusch R. F. (2013) Retailing (International edition) 8th edition, South-Western Fringis, G (2004) Fashion: From Concept to Consumer, 5 th Edition Prentice Hall Healey, M (2008) Jackson, T and Shaw, T (2007) The Fashion Handbook, Routledge Jones, R.M. (2006) The Apparel Industry, 2 nd Edition, Blackwell Publishing Ltd., Oxford Journals Creativity Research Journal Academic of Management Journal Digital Creativity Economics of Innovation and New Technology European Journal of Innovation Management Harvard Business Review International Entrepreneurship and Management Journal Journal of Brand Management Journal of Fashion Marketing Management Journal of Marketing Management International Journal of Retail and Distribution Management International Journal of Retail, Distribution and Consumer Research Services Industry Journal Strategic Management Journal www.emerald-library.com <http://www.emerald-library.com> www.infotrac.co.uk <http://www.infotrac.co.uk> www.wgsn-edu.com <http://www.wgsn-edu.com> www.asa.org.uk <http://www.asa.org.uk> www.bsc.org.uk <http://www.bsc.org.uk>

Transferrable Skills

Analytical skills - through case study analysis in seminars. Communication and interpersonal skills - through presenting individual findings in seminars, group discussions and assessment presentation. Problem-solving skills - through the application and integration of knowledge gained making recommendations on the validity of various theories, concepts and appraisal techniques. Self-management/independent learning skills (reflected in management of coursework and directed learning activities). Writing skills (through the coursework submissions). Research skills - through directed investigative work ICT Skills - through the use of the Internet, Blackboard and other digital technologies.

Module Structure

Activity Total Hours
Tutorials (FT) 8.00
Lectures (FT) 24.00
Independent Learning (FT) 126.00
Seminars (FT) 12.00
Assessment (FT) 30.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 01 n/a 30.00 45% Group Presentation and a Written Summary Report
Course Work 02 n/a 70.00 45% Management ReportDevelopment of a strategy for their own fashion business