Barnes and Noble Strategic Analysis Term Paper
- Length: 12 pages
- Sources: 12
- Subject: Business
- Type: Term Paper
- Paper: #23184379
Excerpt from Term Paper :
Barnes and Noble Strategic Analysis
In evaluating a business strategic positioning, the research approach relates towards Barnes & Nobles' seven main areas of focus relating towards the company's annual report, investor relations summary notices, and corporate governance. By reviewing a variety of available public company's governance, proper research can start to measure strategic approaches effectively. In doing so, the organizational vision, mission, and value statements are from the Barnes & Noble Governance initiative that influences all other strategies, either internally or in the external environment.
The intention behind every organization is to have a successful manifestation of plans and objectives that will elicit equitable control methods and strategies in the company. Barnes & Noble is a multifaceted company that incorporate a number of strategies and planned options to carry out its business entities in the global market. Marketing options involved are rudimentary to the tastes and preferences of the social markets. Organizational existence and establishments are based on the need of having a palatable ground that will feature different features and measures of production, growth, and sustainability. Within a social setup, there are different categories of strategies that are to be incorporated by Barnes and Noble Company. The longevity of goals and objectives thrive the company's strategic options in the market (Barnes & Noble, 2012).
Barnes & Noble Company are validated on their mission, vision, and objectivity statements that state the intention of existing in the market. Like any other organization, the company is based on the desire to elicit equitable measures of growth and development in the society. The analytic strategies involved range from those based on the strategies and mechanisms of control to immediate plans and decisions being made by the company within a given periphery of growth. The organization exemplifies a number of strategic options that link growth together with development for today and the future. The company exemplifies equitable management of resources in order to arrive at sentimental protocols of growth and development. In order to feature measures of growth and development, it is necessary to have control opportunities and risk contingency measures that ensure stability of the company in its productivity. One of the common features dealing with growth and development of the company is its global strategies that realize the need to have future trends of growth and development.
Part of the strategic options taken by the organization is to have a sound mechanism that ensures growth without having to eradicate cases of specialty and superiority of the company in the market. The company intends to have equitable measures of control that are beyond control and can yield equitable fruits to the growth process in the market. The policies conceived are implemented within a categorical approach of growth and development within the company.
For instance, Barnes & Noble Company strategizes on having avenues of growth and development without having to consider how other agencies are performing in the immediate market. In many cases, the obligations that are supposed to be forwarded to the company are diluted within the measures of expansion involved by the organization. In order to ascertain future existence, Barnes & Noble incorporate inventive mechanisms that assume advanced approaches of establishing change in the society. The basic idea behind every plan in the company is to have a solicited approach of attaining equitable existence and influence in the markets globally. This piece of writing endeavours to exemplify growth and development features laid out by the Barnes & Noble Company in the market.
External and Internal Environmental Analysis
Barnes & Noble Company was established in 1873 by Charlez Barnes in Wheaton, Illinois and since then became the largest book retailer across the United States. His son William Barnes and G. Clifford Noble set up the first bookstore, in its turn, in 1917 in New York. The website was created in the late 1980 but was not launched until 1997. Currently Barnes & Noble owns more than 717 stores, services nearly 40 million customers, and has reached 27% of electronic books market share. Besides this, it carries over 2 million of book titles on the website and sells approximately 300 million books and 1 million of unique titles each year. The competitive environment for Barnes & Noble entails consistency in redefining the brand that can adapt to the current industry trends. By defining both the internal and external environments associated with the Barnes & Noble, the strategic approach is more defined on identifying strengths and weaknesses.
Organizational mission, vision, and value statements
Barnes & Noble's business strategy: Validating the organizational vision, mission, and values statements, Barnes & Noble instils values based on customer service for quality, empathy, respect, integrity, responsibility, and teamwork through the actions of employees. Thus, the research in validating the Barnes & Noble organizational vision, mission, and values statement are from the official corporate website for providing an initial source of reference. Further, research will entail reviewing journal articles and literary authors on business strategic approaches by Barnes & Noble for producing a proficiency corporation.
Thinking of Barnes & Noble's organizational vision relating to the seven main areas of focus provides an opportunity for an analysis on the strategic approaches implemented. Barnes & Noble utilizes customer service throughout their strategic approaches by making sure quality standards are up to par for customers. In measuring the quality management by Barnes & Noble, the actions and personal standards, reflected by employees treat customers with respect and integrity as well as validating their customers' online feedback. Therefore, the additional research in Barnes & Noble's identifying their customers and documenting the customer service experience by providing feedback on Barnes & Noble's website, is for validating that the values, mission, and values statements are conducted accordingly (Ferrell & Hartline, 2012).
The way towards building a strong business operation is demonstrating empathy, respect, and integrity for demonstrating responsibility. In doing so, the business can reach success in any strategy approach for sustaining a sufficient consumer share marketplace. With Barnes & Noble, a value entailing the seven core elements that reinforce their value statement promotes a strong teamwork initiative in which the responsibility for serving the targeted consumers is met accordingly. Barnes & Noble's commitment in creating an environment through personal employee's actions that reinforces organizational values for long-term loyal relations with targeted consumers.
The Barnes & Noble annual report of operations sufficiently assists in performing an internal and external environmental analysis due to the breakdown of operation initiatives. The internal environmental analysis relating towards organization processing indicates quality products and innovative initiatives. In doing so, the employees are more adapt in following the internal initiatives outlining the Barnes & Noble values for implementing processing strategies based on corporate governance. By using the Barnes & Noble corporate governance source of identifying their internal environment and strategy approaches, it is possible to provide a detailed assessment to practices implemented.
Barnes & Noble's decision towards applying required certain standards of operations processes - that entail both business activities and transactions to enlisting a longstanding commitment to their consumers. In outlining the core corporate governance initiatives through the Barnes & Noble official website and annual reporting, it provides the strengths as well as reactions to weaknesses. The key is utilizing available public information from the fortune 500 company, such as Barnes & Noble, to drawing a conclusion of their internal environment.
The external environment bears the best sites for expanding the business. The external and internal environments are rudimentary to the establishment and growth of the organization in the market. Part of the strategic options considered by the organization is linked towards bringing the best mechanisms of growth and development in the external market. The external environment bears the resources, market, and field of display for the products and services from the organization. In the business response to certain external environmental stimuli, it provides an understanding to Barnes & Noble's strategy for sufficient success.
Therefore, the analysis of the strategy approach to the external environment stimulus by Barnes & Noble is measured by implemented marketing initiatives and restriction organizational framework. For instance, the Barnes & Noble commitment is in creating a longstanding relationship with the young demographic market by bringing in newer consumers with the B&N College program. The bookstore operations on selected campuses promote the brand identity that is an imperative component to responding to any specific external environmental stimuli. When investigating the reasoning to starting up the B&N College program, the sources are thereby related to identifying such programs in response to the external environmental stimulus.
Strategic Choice and Evaluation
In business, the strategic goal is consistency to bringing a product or service that is within the current trends of the targeted consumer audience. Therefore, the value disciplines entails how companies, such as, Barnes & Noble operates based on excellence, product leadership, and customer intimacy. By focusing on a value discipline, that the company has the means for acting upon, a stronger strategic approach that offers market growth will be developed.
The study will present potential alternatives…