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Critical Business Thinking
Comm 210 Section FF
批判性商业思维代写 Aritzia: How an iconic fashion brand can earn a comparative advantage and get better results with the help of social media. Introduction Part 1
Aritzia: How an iconic fashion brand can earn a comparative advantage and get better results with the help of social media.
- About the company (1-2 sentences)
- What you will be using to analyse the company (name business theories, a brief industry analysis to understand Artizia’s business environment)
- Some of the results have gotten (so is social media a good platform for them to use?) → sub-claim, social media is an attractive platform because it can provide data analytics, etc
- Write your claim → We believe that Aritzia Inc will be able to earn a competitive advantage if they continue to capitalize their social media platforms by engaging, connecting and communicating effectively their purpose with followers to drive client acquisition and retention.
- How each business theory relates to Aritzia
- Business theory #1 → Barney
- Three resources:
- Accessibility to clients through social media platforms
- Providing valuable data to understand customers
- Allow Aritzia to brand themselves as an iconic fashion brand
- Three resources:
Analysis of Industry (100 words) 批判性商业思维代写
- Statistics about the fashion industry
- Major players in the industry (Aritizia’s competitors)
- How does Aritzia compare to these competitors when looking at their social media? Mango & Club Monaco both have larger following bases (look at Exhibit A)
A look into Aritzia’s most valuable resources
Aritzia has adapted social media presence in various platforms to boost their business including Facebook, Instagram, Twitter, and Soundcloud. Back in 2008, Aritzia initially launched their official account, @Aritzia, on Twitter and soon established a loyal following. With an average of 40 tweets per day, Aritzia is actively engaging and connecting with their customers. Similarly to Facebook and Instagram, Aritzia currently has around 200,000 likes and more than 3,000 posts on both of the platforms. According to Barney’s VRIO Framework, which Barney states that resources hold potential for a company to obtain a competitive advantage. For example, Aritzia’s most valuable resources are their online resources, namely their social media presence, which heightens their online distribution channels. In order to understand what kind of advantage these bring to Aritzia, we will be using the famous VRIO Framework.
- Name some of Aritzia’s most important resources
- In order to understand what kind of advantage these bring to Aritzia, we will be using the famous VRIO Framework
Opportunities → value
To begin, easy access to clients
To begin, by ensuring their brand is accessible across all the platforms, Aritzia’s online resources open more opportunities for client acquisition and retention. For example, customers can directly get linked to Aritzia’s website through the platform as they have an “view shop” option: this presents a valuable opportunity. In fact, customers are more likely to be on Instagram than on Aritzia’s website, which makes them more likely to make a purchase.
According to Aritzia’s senior social media manager, Elisa Kosonen, “We believe Instagram is integral to how our audience is inspired to shop. We’re seeing a strong lift in sales conversions whenever we use shopping on Instagram, since tapping to learn about our products has become the norm.” (Meta for Business, n.d.) They practice the excellent use of their social media by creating connections among their social media accounts on different platforms and the address of their locations to it. They also successfully combine these mentioned channels for allowing the bidirectional flow of information and data between these systems.
- They have a shop
- Clients can easily access their store
- How do other stores use the “shop tool on Instagram to access their clients”. In a research paper, company X analyzed 40 businesses and said that instagram allowed them to have easy access to their clients.
- Opportunity to sell, opportunity to advertise
- Because if they were selling only on their website, how do they let their customers know about new items? New sales?
Sub-claim 2: 批判性商业思维代写
In addition, provides valuable data to Artizia as a company to understand more about their clients and their competitors.
Aritzia can use social media to monitor their competitors
- Social media platforms or having access to their clients through social media platforms is not something rare. Many competitors have it. However, one that does bring them a potential competitive advantage is their branding, which they can explore through social media.
Cost of imitation
- Costs of implementing a social media platform → research-based
- For example, implementing a platform …
- However, maintaining a social media platform requires …
- Through social media, Aritzia has been able to earn … followers
- According to Barney, resources such as human resources like customers are intangible, therefore more difficult to imitate
- How does Aritzia distribute their products? Return policy? Logistics
- Is their way of doing business organized?
补充： Business Theory: Barney & Resources 批判性商业思维代写
Talks about the resources a company has and how a company can use their resources to obtain a sustained competitive advantage by meeting the four requirements: high value, high rarity, being costly-to-imitate and organized.
Major claim: sustained competitive advantages cannot simply be created by evaluating external factors (like SWOT or Porter’s Five Forces Model). Competitive advantage depends highly on the resources and capabilities a firm has.
4 different types of resources
- Manufacturing facilities: if your facilities have efficient performance, you can save many costs
Small companies are less likely to get loans from banks compared to big companies.
- Managers organize and operate the company well
- Software developers’ talents
- Loyal customers
- Brand image
Ex. Tesla’s physical resources include their manufacturing, their machinery and production facilities which includes their factory in California that produces 500,000 cars annually.
Tesla’s physical resources are valuable because it allows Tesla to neutralize threats in a highly competitive industry. The competitors are at a cost disadvantage to imitate this resource because building such facilities requires capital and time. This resource is organized because their manufacturing facilities are close to their physical stores