Strategy and the Management of Change Essay Example | Topics and Well Written Essays - 2000 words

Strategy and the Management of Change - Essay ExampleThe caller-out is a wholly owned subsidiary of the Lewis consecrate Group Ltd. The diversified Lewis Trust Group operates in the retail, leisure, property and financial services industry (River Island, 2011). River Island has been present in the fashion retailing industry since the last six decades. The company is recognise for its elegant and reasonably priced fashion in addition to the exclusive touches the company gives to its fashion collection, making them standout from the other fashion retailers of the High Street (River Island, 2011). The company was effected in the family 1948 in the form of a small store in London dealing with wool and ladies clothing. As the business expanded, the company started to focussing only on ladies clothing and came to be known as Lewis Separates. By the year 1968, the company had around 70 stores in the UK. During the same time, Lewis Separates opened up few new concept stores with innova tive designs and formats that were known as Chelsea Girl. Chelsea Girl was the foremost fashion boutique chain in the UK. In the year 1983, the company came up with mens wear under the name Concept Man. Nevertheless, as a result of further progression, in 1988 the company evolved into theme store offering footwear, cosmetics, accessories, and mens as well as womens clothing and came to be known as River Island (Competition Commission, 2004 Lea-Greenwood, 1993). The Environmental compend This section of the study would focus on the environmental analysis which would comprise of an assessment of the Political, Economic, Social, Technological, Environmental and Legal atmosphere affecting the United Kingdom where River Island is headquartered (Havergal & Edmonstone, 1999 guide Marketing, n.d.). The United Kingdom offers a relatively stable domestic political environment to River Island. However, developed nations like the UK cannot contend with the developing countries in terms of ch eap manufacturing facilities and cheap labour. The regulations of the European Union impact the apparel industry of the UK in terms of minimum remunerations, fixed working hours and imports from across the EU boundary (Key Note, 2001). The sparing environment of the UK would have an imperative impact on apparel stores like River Island. The rise in the prices of real estate particularly in the prime sites of the parting might decelerate the store extension activity of River Island or might result in decrease in the floor space of the new stores. The augmentation in the oil prices would also increase expenses through the supply chain of the company. The potential economic depression in the region had lead to the decline in useable income of the public on apparels and fashion products, causing a likely decline in the prospective market (Key Note, 2001). The major social trend prevalent these old age is a shift towards lavish lifestyle and stylish clothing particularly among the urb an adults. The increased inclination of the public toward fashion garments and accessories have enhanced the need for product diversification amongst the apparel stores and River Island is no exception. The rapid technological advancement and the exceeding