assignment strategic management case study

Nike Strategic Management: The Case Study Essay

Introduction, marketing environment and success strategy, drivers to superior performance, strategic management tools, marketing strategy and international markets, competitive advantage and value creation.

Nike Inc. is an international company based in the United States, which deals with sportswear and other apparels. The company is ranked as the top seller of sports shoe and clothing. Nike was started in 1964 by Bill Bowerman and was originally called Blue Ribbon Sports, but was later changed to Nike in 1978. During that time, its main goal was to produce low cost, high quality shoes for Americans to break Germans control over domestic trade (Nike, Inc., 2009).

Today, Nike not only distributes its products domestically, but also all around the globe. It has market regions in continents such as Asia, Europe, and United States. Besides, Nike has produced many brands such as Nike Skateboarding and Nike Pro. This paper focuses on the Nike Company and the strategic methods and tools that have led to its superior performance.

According to Peters (2009), Nike produces a wide range of products, which are categorized according to their relevant sports. Nike’s first products were track shoes, which were meant for running: the company has managed to design and produce shoes for different games such as baseball, hockey, football, basketball and Cricket.

This is due to the ever-increasing number of customers favoring the company’s products. The latest product that has been produced is the Cricket shoe named as air zoom Yorker (Nike, Inc., 2009). Air Zoom Yorker is better because it is 30% lighter as compared to the one designed by Reebok. Another new product is air Jordan XX3, which is meant for basketball.

Additionally, as a company that relies on collaborative marketing, Nike together with Apple Inc. has designed a product that is able to check runner’s performance through a radio device, which is placed inside the shoe and is connected with the iPod nano. Nike has also produced shoes that contain flywire and lunarlite foam meant to make the shoe lighter.

The Nike+sports brand records the mileage, lost calories, and time used. According to Mintzberg, Ahlstrand, and Lampel (2005), product differentiation and market segmentation form the basis for strategic management in marketing. In this light, meeting customers’ demands has been the strategic objective in Nike’s plan.

Dess and Alan (2006) affirm that the marketing strategy used by Nike is an essential element for its success. It has enticed its customers through advertising with a slogan ‘Just Do It’. Nike has also teamed up with athlete celebrities through sponsorship agreements. It has many elements of advertising such as advertising through television.

The first advert was created by Wieden and Kennedy at New York marathons. Similarly, Nike has also won Emmy Awards for commercial advert. The advert that won the award was based on what an athlete could face if there was Y2K realization on 1 January 2000.

The second commercial advert was called ‘move’, which marked the famous athletes. In product promotions, Nike pays players to wear their products such as t-shirts, shoes and shorts in order to advertise them. Such players include Michael Jordan, and through him, the promotion has boosted Nike’s publicity and sales. It also sponsors many football clubs in Brazil, Netherlands and United States.

Golf players like Tiger Woods and Michelle Wie have also benefited from the sponsorships. Nike also sponsors high school basketball and has developed websites for various sports such as nikerunning.com (Johnson & Scholes, 2008).

However, Nike has faced a tough competition in the market with companies such as Reebok and Adidas, which sell the same products as it does. Reebok has many female consumers, but has a weakness of poor marketing as compared to Nike. It does not always advertise its products on Televisions as compared to other Companies. Nike has tried to capture a big market share of female customers by sponsoring Women’s world cup football, which was held in 1999.

Nike has used the five forces model of competition that determines the industry structure. This model has helped it to deal with external forces such as, new entrants in the market, alternative products or services, bargaining influence of suppliers and buyers and competition and enmity among other competitors (Berman & Evans, 2006).

Onkvisit and Shaw (2004) argues that the risk of new entrants has been a threat to Nike since there are other firms in the clothing and shoe industry that have a potential to produce sportswear shoes and clothes if given a choice. Entry of new entrants has affected the prices because Nike has lowered some of its product costs.

However, the threat has been minimized by government regulations and brand loyalty. Further, Nike avoids extreme rivalry among other competitors because it is a risk to profitability rates. Nike, Inc. considers the bargaining power of the buyers as a threat because strong buyers have the power to lower the products prices and hence raise costs. The buyers are capable of buying in huge quantities and therefore getting a lot of profit while the firm suffers loss (Lynch, 2006).

The company has balanced its products productions and costs to minimize the bargaining power of buyers. Nike has also been able to cope with the bargaining power of suppliers, which poses a threat because the suppliers have power to increase the prices on raw materials. Nike has reliable suppliers who inform the management first upon the increase of costs of raw materials.

Nike has common drivers that produce superior performance. These drivers include people management, which entails realization of the potential of the employees either in groups or in an individual level. The company has come up with a strategy of upholding fairness among the employees, communication and caring for employees (Nike, Inc. 2009).

Through communication, the company ensures that there is a flow of information between the top, middle and higher levels to ensure that every employee’s contribution is taken into consideration. Nike, Inc. also motivates the employees by giving them incentives and rewards to build commitment to promote the organization.

People development enables employees to utilize their potentials and fully contribute to the organization’s goal realization. Rewards and recognitions motivate employees to give their best performance and strive to excel through continuous improvement (Berman & Evans, 2006). Furthermore, Nike has authorized the customer liaison manager to replace customer’s products in case of a complaint. The manager can make decisions without consulting the management.

Johnson and Scholes (2008) assert that leadership is another driver to superior performance, and it entails transforming the organizations direction and instigating others to follow. Leadership is paramount in Nike’s strategic management. Leaders have a stake in realization of the vision, mission and objectives of an organization because they ensure that other employees follow the organizations values. Leadership is developed at top, middle and lower levels in the organization.

Continuous improvement is another driver, which is activated by both customers and employees. In this case, there is feedback from the customers and from the employees and hence customer’s needs are met. Organizations’ processes are improved because customers provide their needs and the employees act and produce products according to customer’s specifications – all the stakeholders gain improvement benefits (Joshi, 2005).

Similarly, customer focus is a driver where a relationship with customers is an important issue. This entails assessing customer’s perceptions about products and acting on their response as soon as they raise an issue of concern about a product. Close relationships with customers benefits all the stakeholders involved. Nike has also employed process focus as a driver for performance improvement. The system performance has to meet the set objectives since it is a key technique (Nike, Inc., 2009).

Another important driver to performance is collaborating with suppliers. This entails relationships between the organization and the suppliers (Lynch, 2006). Nike has recognized suppliers as key for the organization to achieve shared goals while also sharing expertise and knowledge.

Improving on processes allows working with suppliers to share resources and improve performance. Nike applies various communication strategies within all its stakeholders to encourage openness and reliance. When communication flows through all the levels in the organization, it makes it easy for the employee’s ideas to be taken into consideration.

Stimulating innovation and creativity is another driver that has supported Nike to build up competitive products and services. This has been achieved by modifying the organization structure and being involved with product improvement activities. Nike has also managed its assets and resources to improve the effectiveness and efficiency of the organization. Protection of its properties maximizes customer’s value (Mark, 2000).

Onkvisit and Shaw (2004) concurs that measuring performance and benchmarking is another driver that Nike uses for superior performance. By utilizing a balanced score card, it has been able to measure process improvements alongside with the organizations objectives.

The company also monitors performance in other organizations and collect information from existing and future stakeholders. It uses the information to plan for the future, set targets to be achieved within a certain period, and get unique ideas on improvements from other organizations.

Furthermore, Nike employs corporate social responsibility as a driver to superior performance as well as interacting with the society representative. A good example of this is boosting children’s games in the community by sponsoring their sports and provision of uniforms that has Nike’s logo (Nike, Inc., 2009).

Strategic management is a technique that Nike, Inc. has been able to apply to determine how it is performing in its current position and how its future should be. This has greatly helped the managers to lay a plan for the organization and take it where they want it to be. The management employs strategic management components such as vision, environmental analysis, strategy creation, strategy implementation, and strategy assessment (Nike, Inc., 2009).

Nike has set business plans through strategic management in order to assess its business areas. It is a process which managers build strategies to get better results in performance. This involves studying the competitors’ techniques, both in the current and future. The Company has utilized strategic management tools which have supported it to examine itself in the present and perceive how its future will be. Strategic management acts as a road map to show managers the best direction to follow for the organization to be where it is supposed to be (Lynch, 2006). The tools employed for strategic management include mission statement, SWOT analysis, SMART goals and benchmarking.

Mission statements help to make clear how the organization is observed and how it will be perceived in the future. The organization reflects on how it will be different from other competitors like Reebok in the market place. SWOT analysis has been applied to find out the organizations strengths, weaknesses, prospects and risks.

Berman and Evans (2006) affirm that this has supported the organization to take advantage of its strengths and reduce the impact of its weaknesses. SWOT analysis has assisted the management to consider other external factors such as new openings and risks to be avoided.

SMART goals ensure that the goals and objectives laid down are specific, assessable, achievable, appropriate, and timely. SMART goals are essential for Nike’s management because they have enabled the company to get rid of frustrations due to unrealistic goals. The management has been specific to establish whether the set goals have been met.

Measuring enables the management team to gauge whether they are about to reach their goals and if not close to the goals, how much time and work is remaining in order to get there (Mintzberg, Ahlstrand, & Lampel, 2005).

Benchmarking is another tool that is employed to scrutinize and adapt to the best processes from other organizations around the globe. As explained earlier, managers have been able to improve the organizations performance to meet its goals and to be at the competitive edge over its competitors.

Other techniques that have been used in project management include program evaluations; this helps the company to evaluate a project from start to end. This has supported the management to ascertain the time left to for the completion of the projects. Nike utilizes these projects and programs to reach its goals and achieve its objectives.

The Company uses break even analysis technique to decide on the number of products to sell to break even and grow to be profitable. Lynch (2006) says that game theory is applied in the market to conclude how the customers will react and it does this either through increase in prices or introduction of new products.

Financial control techniques like budgets, audits, and financial breakdown are efficient in controlling and balancing the cost of business. Budgets are employed to manage the organizations income and expenditure as well as allocation of resources to different activities and projects.

Nike has many strategic management techniques organized in steps to achieve the laid down goals and objectives. First, environmental scanning is a process that the company employs to collect information from both internal and external environments that has power to influence the organization. This is meant for improving the processes through analyzing competitors, employees, products, and suppliers (Mark, 2000).

After analyzing the environment, strategy formulation is the next step where Nike management takes the best plan among many to accomplish organizational goals and objectives. Through this stage the managers set strategies for business and functional policies. Strategy implementation is taking the best plan and implementing it (Berman & Evans, 2006). Organization structure is devised in this step together with the allocation of resources, hiring of human resource and coming up with a clear decision making process.

Strategy evaluation is the last step where the strategy implemented is assessed to determine whether it is performing well and if it has deviated, and that the best corrective actions are taken. The purpose for the evaluation is to make sure that that the organization goals are met.

In light of this, Nike has been on the global market and has gained competitive advantage on the market. Its marketing managers keep on analyzing the global industries and how competition keeps changing. Trade is increasingly becoming global because of improvement in transport and communication. Nike’s consumers have been able to have access to a wide range of products in their countries. Nike started exporting its products in small amounts, but later increased and reached the export stage. It got more and more foreign orders until it was able to export its products all over the world (Nike, Inc., 2009).

Nike has stayed at international market for a long time and it applies many techniques such as adding new brands. Nike keeps on adding new products such as sports shoe and clothes. The information about the new product is posted on the website (nike.com) where consumers can read. Joshi (2005) asserts that through advertising of the new product, Nike gains an increase in sales because this has brought in new customers who have never bought the current products.

The existing customers have had a variety of the products to choose. Nike combines the new brand and the old ones into an exceptional package as an offer. Nike has also become a valuable resource to its customers by giving them free information about the products. They have assisted their customers to easily get services, fast deliveries, and at low costs.

The company is unique since it produces exclusive and best quality products. They have also promoted the end result of products by telling the consumers about the benefits they will get when they choose to use the products. Nike keeps on changing its marketing strategies due to other aggressive and innovative rivals like Puma, Reebok, and Adidas (Peters, 2009).

Nike’s brands have turn out to be to be very strong as compared to others such as Reebok and Puma. Their secret is brand management because despite selling their products at a higher price, consumers are still willing to pay more money for its brands which are believed to be of high quality with different styles. Due to the strong brand competitive advantage, Nike has been able to increase its market share all over the globe. Its prices are a bit high as compared to other competitors but it has made many sales than those of its competitors.

Nike, Inc. has gained a competitive advantage over its rivals. This is achieved through giving consumers a greater value and offering high quality products. The company has devised superior value over other competitors. Nike, Inc. uses Michael Porters strategies for competitive advantage such as cost leadership, focus, and differentiation (Johnson & Scholes, 2008).

The reason why Nike, Inc. has gained a competitive advantage over other companies is that it undertakes an evaluation process, which involves evaluation of resources, clarification of goals, defining customers and examining competitors.

In evaluation of resources, the company relies on the resources available and plans on how to use them through product offering and resources. In goals clarification, Nike plans on how to achieve its goals and objectives. Defining customer’s strategy entails looking at the products and services that the plans to develop, and is not provided by the other competitors.

This assists Nike, Inc. to determine and communicate to its customers in order to understand their needs and get additional suggestions from them. Examination of competitors helps to identify other ventures targeting a particular market. Through this, Nike compares its strengths and weaknesses with the other competitors (Nike, Inc., 2009).

In this regard, there are many techniques used to achieve a competitive advantage. These techniques include product differentiation, service differentiation, people differentiation, image differentiation, quality differentiation, and innovation differentiation (Lynch, 2006). Product differentiation implies that Nike has a wide range of products. Other competitors have tried to imitate its products but it remains upfront due to its quality and the products are different in styles and consistency.

Peters (2009) argues that in service differentiation, Nike, Inc. offers additional services such as delivery and product return services. This extra service is the one that consumers are after. Information and other instructions about the products are also extra services that attract customers.

People differentiation entails hiring result oriented employees who are better than those in other rival companies. Because employees are intangibles, it is difficult to imitate them as in the case of tangibles. Training employees and paying attention to their needs gives Nike Inc. a competitive advantage.

Employees such as production staff produce quality products, and it is hard for the competitor to know that the competitive advantage is due to employees’ improvement. The competitor may think that the competitive advantage is due to equipments and materials. People differentiation is essential when customers are directly served by the employees. The way employees handle a customer at first time determines whether he will return another time (Berman & Evans, 2006).

Image differentiation is another technique that has been applied by Nike to differentiate its brand image from other competitors. A negative image can destroy the company’s image within a short time. As Nike undertakes many activities, it supports its image because the “Nike” mark symbolizes good, and it is easy to identify. In quality differentiation, Nike sells high quality products to its customers. Innovation differentiation entails process innovation.

Process innovations reduce the costs of production and the competitors may take time to discover what the company is doing to gain competitive advantage (Nike, Inc., 2009). Nike strives to sustain its competitive advantage because it is not long lasting. This sustainability is achieved through giving value to customers, creation of non-imitable products, which may not be copied by its rivals, and production of products that cannot customers cannot substitute easily.

In selecting a competitive advantage, Nike, Inc. selects ways of making products that competitors cannot imitate easily because the management understands what its customers needs are.

The company has realized that variety is totally different from differentiation. Nike has strived to stay at the competitive edge because of its efforts and strategies. It has faced many challenges since other competitors have tried to copy it through successful advantages for their business in the dynamic market place. Thus, establishing the market edge is important as well as maintaining it (Mark, 2000).

There are many ways that Nike has attracted its customers for value creation. Customer incentive programs are one of the successful programs within the organisation (Nike, Inc., 2009). Nike offers give away to customers, tickets, sales, sponsorships and discounts. Nike sponsors many players in different sports.

Such players who have benefited from sponsorships include; James Blake and Roger Federer. It also sponsored Indian cricket team for a period of five years and national soccer clubs in countries like India, Netherlands and Malaysia. Top golfers like Tiger woods and Lucas Glover has also benefited from Nike’s sponsorships.

Moreover, Nike has retained both traditional and non-traditional methods of distribution in over 100 companies, but it focuses more on its primary market regions. Apart from product diversification, Nike has diversified supply chain and manufacturing due to international economic crises and other risks. It has many contracted suppliers outside the United States, including Vietnam and Thailand. There are other contractors who manufacture its products in over 35 countries.

In the year 2003, China manufactured 38%, Indonesia 27%, Vietnam 18% and Thailand 16%, while the rest was manufactured by other countries. This has enabled Nike to make large amount of sales. Supplier diversity has also increased its competitiveness in the market and it continues to contract more suppliers in many countries because it believes that supplier relationship is vital.

Nike Inc has also employed value creation as a management goal. Creating value for consumers has increased sales as well as the shareholders through the increase in stock price. Value creation is characterized by brands, people and innovation (Mintzberg, Ahlstrand, & Lampel, 2005). Nike, Inc. has prioritized value creation in its decision-making. This has helped the managers to know where and how to build the companies capability to attain profitable and lasting growth.

Mark (2000) agrees that through value creation, the company has been able to understand the basis and drivers of value creation in the business and market place. They have realized that the consumers value high quality and timely delivery of products and so the processes that lead to the delivery of high quality products are greatly valued. Some of the customers have valued innovation and so the processes involved in creation of new products are also highly valued.

Value creation also entails product and process innovation as well as knowing the consumers needs. Nike, Inc. has also realized that value for employees is essential since they feel motivated and work hard to produce better results. Therefore, proper treatment of the employees and involving them in decision-making creates value.

Nike has awarded and promoted managers who have defeated the other competitors like Puma in value creation. In this case the managers have positioned capital better than the other competitors. Nike has gained an advantage in developing the organizations ability to get more profits and future growth.

Other companies that have achieved the benefits of value creation are Coca-Cola and the Lloyds banks. These companies applied value creation as a technique and have realized growth and increase in their profitability. In acquisitions, Nike has acquired Upscale Footwear Company, surf apparel company, Hurley international and converse Inc. It has sold some of its subsidiaries such as Bauer Hockey and Starter (Nike, Inc., 2009).

Nike, Inc. has achieved its superior performance, mostly through competitive positioning and value creation. This has been achieved through advertising, brand name recognition, product innovation, and striving to be at the competitive edge despite having a stiff competition.

Nike employs many strategies and techniques such as strategic management tools and models, product differentiation, and proper distribution channels. Many consumers have realized the uniqueness of their products and recognize them through the trade name ‘Just Do it’ and Swoosh Logo. They have maintained customers because of their high quality products and unique marketing strategies.

Berman, B. and Evans, J. (2006), Retail Management, A strategic Approach , London: Prentice Hall.

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Joshi, R. M. (2005), International Marketing , New York: Oxford University Press

Lynch, R. (2006), Corporate Strategy , (4 th edn) London: Prentice Hall.

Mark, M. H. (2000), Creating Public Value: Strategic Management in Government, Cambridge: Harvard University Press.

Mintzberg, H., Ahlstrand, B. and Lampel, J. (2005), Strategy Safari: A Guided Tour Through the Wilds of Strategic Management , London: Prentice Hall 11.

Nike, Inc. (2009), Annual Report on Form 10-K , [pdf]. Available at: < http://media.corporate-ir.net/media_files/irol/10/100529/AnnualReport/nike-sh09-rev2/docs/Nike_2009_10-K.pdf > .

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Peters, J.W. (2009), The Birth of ‘Just Do It’ and Other Magic Words. August 19. The New York Times .

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Strategic Management Assignment: Case Analysis of Unilever

Task: Strategic Management Assignment Instructions: You are required to study the case study “Unilever’s New Global Strategy: Competing through Sustainability” and attempt the tasks below:

(Task - A) Drawing on the functional areas of management (HRM, Marketing and Finance) and using the quantitative and qualitative data provided in the case study, conduct an internal analysis on the company. Justify your response. (Approximately 500 words)

(Task - B) Using relevant models, critically discuss the impact of external forces on the company. Critically evaluate the structure of its industry and discuss the implications for the company. (Approximately 500 words)

(Task - C) As a change consultant, what interventions would you have implemented within Unilever to mitigate the impact of economic factors? (Approximately 750 words)

(Task - D) Consider a scenario in which you were called upon to participate as a change agent in a strategic change management program. Critically reflect upon your experience in overcoming blockers and capitalizing on facilitators of change. To what extent do you agree that reflective learning is a means of enhancing one’s leadership ability in the context of change management? Justify your analysis by using theory.

Task A: Company background statement and internal analysis Overview of the company Unilever is a globally renowned company that manufactures and sells consumer-related goods such products related to personal care, beverages and cleaning. The company was initiated in 1929 as a result of a merger between a soap maker and a margarine producer. Unilever is dual-listed in the stock market that consists of Unilever PLC in London and Unilever NV in Rotterdam(Unilever, 2015).The purpose of the company is to make a commonplace for sustainable living, and thus it emphasizes on features that makes theproduct of the company gain a competitive edge. The business of Unilever makes massive upfront investments that are possible to be recouped only in the longer term, and this is the company's unique business strategy. However, this strategy of the company has brought a complex set of challenges despite the company delivering its financial expectations along with social and environmental commitments. The main challenge is regarding the ability of the company to continue with its delicate balancing measures even in the future. The CEO of Unilever, Polman, considered the progress of USLP (Unilever Sustainable Living Plan) as to be satisfactory, but there was a level of limitation in such approach, and thus the management of the company understood the requirement of bigger initiatives to meet its target of water usage and GHG.

Analysis of Unilever’s microenvironment (Internal Analysis) Marketing : The marketing strategy of Unilever gained tremendous prominence as everyone became familiar with the company's marketing of Lifebuoy that achieved tremendous success. In addition to that, Unilever assigned leaders for each of the seven pillars of its USLP as a part of its marketing strategy. The company recently recruited Marc Mathieu as the company’s Senior Vice President of marketing and he started a program called CB4L (Crafting Brands for Life); and the main objective of this marketing campaign was to successfully link the company's brand strategy to the principles of USLP (Thomas and Hirani, 2018). The CB4L consisted of three principles, with the first principle being putting people first, the second principle was to build "brand love," and the third or the last principle was to unlock magic along with logic in execution.

HRM : Human resource refers to the art of managing the employees or workforce of a company in such a way that it helps the company to achieve its goals (Inc, 2018). In the context of Unilever, the company’s HRM plays a crucial role in terms of recruiting and managing the best talents available in the market. The HRM of the company continuously strives to improve the resources of the company so that the company can deliver the best possible results in terms of the market competition. Overall, the HRM of Unilever creates a sustainable value in its business operation, which is also an important aspect of its resource management.

Finance : The financial analysis of the company demonstrates that the financial performance of the company has shown a 2.9% sales growth in 2015, which is the lowest for the company in the decade. The decline in sales results was due to depressed growth in the shrinking demand in emerging markets, and the company is not expecting any significant improvements in the market conditions.

Task B: Macro environment analysis of the company PESTLE analysis Politica l: Unilever has to follow the regulations set by government to follow the product standards. As the company works with different product division, it needs to follow the regulation for each product division to ensure that the product quality and the business process are abided by law. In such case, support of government is a great thing.The extensive support from the UN is a major growth opportunity for Unilever as the CEO of Unilever was invited to join the UN global compact and to be a part of post-2015 development. The support from the government is a major strength for the company to carry out its operations successfully. The sustainability policy of the company and partnership with NGOs and government is a political strength for the company to align with its strategy. Most of the countries where Unilever works are politically stable. The strict trade reforms of US are a threat factor for Unilever that may bring potential challenges.

Economic : The increasing disposable income of consumers is one of the biggest opportunities for consumer goods industry because the disposable income increases the demand of the consumer goods. It is beneficial for Unilever to extend its product line and to enhance the sales of existing products. Economic stability in the developed countries is good, which ensures good opportunities for the company. The increasing wages may add additional costs for the manufacturing of products, which may reduce the amount of profit for the industry as well as for Unilever.

Social : The actions undertaken by organizations form consumer goods industry reflect their image in front of stakeholders, specially the CSR activities.Unilever has undertaken numerous social campaigns and activities to raise social awareness and to reflect on specific issues. Some of the products such as Lifebuoy is promoted such a way that it presents a specific concern towards the society (handwashing practice by Lifebuoy).

Technological : The consumer goods industry tends to adopt newer technologies to enhance the manufacturing activities and other business areas. The use of technology in most of the business areas is common for the consumer goods industry.The increasing automation in the manufacturing and other activities of the business is a technological strength for the company, and it is also encouraging potential investments for R&D. The cost of transportation is also decreased, which reduced the overall cost of business, and it is possible because of technological efficiencies.

Legal : The legal policies adopted by consumer goods industry and legislation followed differs from one country to others, so following the legislation in a country is important for an entity to carry out the business activities successfully.The policies of Unilever showed special concern toward the environment, which is an opportunity for the company to meet the need of environmental regulations of the countries where it has operated. The CSR of the company, namely brand imprint, guides to make each brand of Unilever socially responsible and abide by adequate legislation.

Environmental : The concern related to environment is more for consumer goods industry, as it involves in manufacturing activities that may lead to harmful consequences. The organizations from the industry implementing several environmental based strategies to male their business activities more sustainable.Unilever aims to reduce its environmental footprint in its business operations, so it has undertaken several environmental-related policies to minimize the harm to the environment.

Porter's five forces model Competitive rivalry : The competition within the industry is strong for Unilever because there are more firms providing similar products and the low switching cost is another threat for the company, which is because of strong competition in the market. Competitors such as Nestle and P&G are major rivals in the market.

Bargaining power of customers : The power of bargaining for customers is also high for Unilever because the customers have the choice to select similar products provided by other competitors in the market, and the switching cost is very low. The information available for the customers about other products is also a threat factor for the company.

Bargaining power of suppliers : The suppliers' power is somehow moderate because the availability of suppliers cannot provide a chance to implement intense force by the suppliers. The partner-to-win strategy of Unilever is an example of its strength over the supply network.

Substitution threat : The cost factor is a threat for Unilever in terms of substitution, but the low availability of substitute products acts as a strong force for the company. The low performance and low customer satisfaction of substitute products increase the chance of the company to develop a strong brand presence.

New entry threat : The threat of new entry is low for Unilever because the brand development cost is high. The economies of scale and competitive advantage for Unilever are high in the market, which will be a disadvantage for new firms.

Task C: Identification of Unilever’s best strategic intervention ANSOFF Matrix Market development : This strategy helps the company to enter new geographical segments based on its desire to expand the business operation. Unilever predominantly aims at staying in the local market, but at the same time, the company keeps on developing new strategies for the market (Khankasi, 2020). Over the years, the company has enjoyed continuous success in the European market, and based n its success, Unilever has implemented market development plans for the American and Asian markets so that the business of the company continues to grow, and this has primarily been developed by the company by considering the diverse customer base.

Diversification : Unilever has adopted a diversification strategy based on various unrelated and related means of diversification. The company indulges in ownership and acquisition of various subsidiaries based on unrelated diversification. Some prominent examples of unrelated diversification of Unilever are Dermalogica, Tatcha LLC, and Seventh Generation that are mainly based on the cosmetics and beauty industry (Khankasi, 2020). On the other hand, in terms of related diversification, the company has been consistently increasing its product line. Over the years, various units of businesses have been developed for achieving related diversification, such as refreshment brands, dairy brands, and food brands.

Product development : The concept of product development is linked to creativity and innovation, and thus it focuses on the company regularly improving the products or coming up with new products for the customers. Unilever has efficiently understood the necessity of improving the line of products along with regularly developing new products so that various segments of the customers can be attracted (Khankasi, 2020). Over the years, the company has achieved major benefits from its diverse customer base, and this has been made possible by a wide range of product offerings. Overall, the strategy of product development has kept the company on the path to success as this strategy has been regularly providing the customers with new and improved products.

Market penetration : The strategy of market penetration has been implemented by Unilever for achieving tremendous success in the company. After introducing a new product in the market, Unilever sells it with the intention of market penetration (Khankasi, 2020). The company does not emphasize selling its products to few customers and accordingly moves it to the next market. Unilever emphasizes economies of scale, and this has been a major reason for the company’s success. However, this strategy has sometimes resulted in product failure as well.

Porter’s generic approach Unilever uses the generic strategy of broad differentiation to gain a competitive advantage. The main emphasis of Unilever's broad diversification strategy is to make its products stand out against the competitors by improving and developing products. For example, the company produces Dove cream bars for attracting and satisfying the customers' needs as a form of soap that is harsh on the skin or dry (Young, 2016). Thus, despite the fact that the company's products have higher selling prices, Unilever is still able to achieve competitive advantage because the ability of its products to stand out against competitors. In addition to that, the broad diversification strategy attracts the consumers with products that have specifically designed to their unique needs. However, this strategy also fails sometimes as there some people who looks for product at a cheaper price and thus compares the products of various companies and accordingly choose the best products for them. The broad diversification strategy of Unilever aligns with the company's mission and vision statement that thrives to support the global sustainability along with increasing the vitality of consumers' lives. Unilever's strategic objective based on the differentiation strategy is to ensure that the company grows through intensive efforts based on the development of products. This objective of the company emphasizes developing products that can stand out in the tremendous market competition and successfully attract customers.

The main concern for Unilever in its generic strategy of broad differentiation is based on the fact that there is a potential of some consumers being not happy with their pricing, and thus this may result in the company missing out on those sections of the consumers. Overall, the broad differentiation strategy has enabled the company to achieve a competitive advantage by a massive extent, and the results are reflected in its strong financial performance in the market of consumer goods. In the future, the company wants to keep improving its line of products and further diversify its product portfolio so that the factor of sustainability remains intact.

Task D: Change management Use of change management model The change related to environmental and social goals is one of the key factors for Unilever; the change management process needs to be followed based on specific steps to implement successful change. For Unilever and its change related to environmental policies with external partnerships, Lewin's change management process is discussed below to show the steps that Unilever needs to undertaken while implementing change.

1. Unfreezing : It is the first stage in the process of change management that makes the internal stakeholders aware of the specific change and its benefits. At this stage, the key employees who need to be related to the specific change are motivated about the positive outcomes of the change (Cummings, Bridgman, and Brown, 2015). For example, the involvement of external partners for the environmental initiatives at Unilever, the internal stakeholders need to be well communicated about the change initiatives and their benefits. At this stage, the role of effective communication is important to ensure that the message is well communicated to each target group and its members. Before implementing the change, it is important to unfreeze the existing situation of the organization where the change is going to take place. The unfreezing stage helps to reflect on the existing flaws and key areas of consideration that should be counted as major areas of concern while implementing the change. The unfreezing stage is important; the change in the organization may bring expected change in group behavior, so it needs to be tackled earlier.

2. Change : At this stage, the actual change is implemented, and it is undertaken in several steps. The key thing that needs to be considered for this stage is effective communication, strategic planning, encouraging the individuals involved in the change, and risk planning to address the expected risk during change implementation (Hussain et al., 2016). While implementing change related to the environmental policy of Unilever, the key things need to be considered for better implementation of change and to manage the risks. At this stage, there are many unexpected risks that may occur, but the implementation of an on-time and effective strategy is crucial to mitigate those risks.

3. Refreezing : It is the last stage in the process, and at this stage, the employees and individuals who are related to the change work as per the implemented change (Burnes, 2019). The ultimate success of implemented change is calculated at the refreezing stage because it depicts whether the employees are able to accept the change or not. To encourage the employees towards the change, they need to be rewarded as it is a strategy to reinforce and strengthen the behavior.

Figure 1: Breakdown of Lewin’s change model Source: (Hussain et al., 2016)

Gibbs’ reflective cycle There are six stages in Gibbs' reflective cycle, and in the present context, using the cycle, the relationship between leadership ability and reflective learning is shown based on change management.

1. Description : A leader needs to describe the situation in detail to make others realize the importance of specific change. What, why, how, when, the answers to all these questions should find out by the leader to implement the change effectively (Adeani, Febriani, and Syafryadin, 2020).

2. Feelings : The thoughts and feelings of the leaders need to be clearly communicated with the subordinates to ensure they get a clear representation of the leader's perspectives. The ideas that are represented by the leaders show the effective communication skill of the leader, which is a key part of change management.

3. Evaluation : The leader needs to focus on both positive and negative aspects of the change initiative and should plan for ways to minimize the negative impact on the change.

4. Analysis : The detailed analysis of the situation is important for a leader (Wain, 2017). Detail analysis of the leader reflects the analytical skill of the individual, which is a crucial thing for the change management process.

5. Conclusion : The summarization of the key learning is important. The key learnings are the importance of selecting an adequate change management process, the importance of selecting growth strategies, analysis of the macro environment of business, and alignment of strategies with company objectives.

6. Action plan : In a similar situation, as a leader, one needs to focus on the current situation of the company, whether the company is ready to accept the change or not.

Figure 2: Gibbs’ Reflective cycle Source: (Wain, 2017)

References Adeani, I.S., Febriani, R.B. and Syafryadin, S. (2020). USING GIBBS’ REFLECTIVE CYCLE IN MAKING REFLECTIONS OF LITERARY ANALYSIS.Indonesian EFL Journal, [online] 6(2), p.139. Available at: https://www.researchgate.net/profile/Syafryadin-Syafryadin/publication/343599316_Using_GIBBS%27_reflective_cycle_in_making_reflections_of_literary_analysis /links/5f335a50a6fdcccc43c20399/Using-GIBBS-reflective-cycle-in-making- reflections-of-literary-analysis.pdf [Accessed 19 Jul. 2021].

Burnes, B. (2019). The Origins of Lewin’s Three-Step Model of Change. The Journal of Applied Behavioral Science, [online] 56(1), pp.32–59. Available at: https://journals.sagepub.com/doi/full/10.1177/0021886319892685 [Accessed 19 Jul. 2021].

Cummings, S., Bridgman, T. and Brown, K.G. (2015). Unfreezing Change as Three steps: Rethinking Kurt Lewin’s Legacy for Change Management. Human Relations, [online] 69(1), pp.33–60. Available at: https://journals.sagepub.com/doi/full/10.1177/0018726715577707 [Accessed 17 Jul. 2021].

Hussain, S.T., Lei, S., Akram, T., Haider, M.J., Hussain, S.H. and Ali, M. (2016). Kurt Lewin’s Change model: a Critical Review of the Role of Leadership and Employee Involvement in Organizational Change. Journal of Innovation & Knowledge, [online] 3(3), pp.123–127. Available at: https://www.sciencedirect.com/science/article/pii/S2444569X16300087 [Accessed 19 Jul. 2021].

Inc (2018).Human Resource Management. [online] Inc.com. Available at: https://www.inc.com/encyclopedia/human-resource-management.html [Accessed 20 Jul. 2021].

Khankasi, A. (2020). Ansoff Matrix for Unilever. [online] Ansoff Matrix. Available at: https://ansoffs.com/ansoff-matrix-for-unilever/ [Accessed 20 Jul. 2021].

Thomas, T.K. and Hirani, A. (2018).It’s all about finding the truth, sharing it. [online] @businessline. Available at: https://www.thehindubusinessline.com/catalyst/its-all-about-finding-the-truth-sharing-it/article7202095.ece [Accessed 20 Jul. 2021].

Unilever (2015).The Formation of Unilever. [online] unilever.co.uk. Available at: https://www.unilever.co.uk/Images/the-formation-of-unilever_tcm1252-520314_en.pdf [Accessed 20 Jul. 2021].

Wain, A. (2017). learning through reflection. [online] ResearchGate. Available at: https://www.researchgate.net/publication/320342913_Learning_through_reflection [Accessed 19 Jul. 2021].

Young, J. (2016). Unilever’s Generic Strategy & Intensive Growth Strategies. [online] Panmore Institute. Available at: http://panmore.com/unilever-generic-strategy-intensive-growth-strategies#:~:text=thereby%20supporting%20growth.- [Accessed 20 Jul. 2021].

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Strategic Management Assignment: Case Analysis Of Coca-Cola

Task: Strategic Management Assignment Task: You are to write a 3000-word report on the case study analysis for your identified organization by taking a role of Strategic Management Consultant.

Description Draw on the research done in the previously submitted assessments to provide strategic recommendations for your selected company.

The recommendations need to be based in research and critical analysis, be realistic and feasible, and reflect the currently available data. Outline the steps needed to achieve the outcome that you are recommending. You also need to provide a holistic analysis of the expected outcomes for your recommendations. Consider economic, social, and environmental consequences of your recommendations.

Executive Summary The company of Coca-Cola has been viewed in this strategic management assignment. Distinctive risks such as that of the lack of sustainable approaches, the lack of HR potential and high market competition have been delineated as major points of concern for the business. In retrospect to this, it is important to understand that the solutions offered in this study are centred on the scope of CSR business model integration with talent management and innovation culture to firmly establish a unidirectional strategic direction for the company. The economies of scale through complementary forces of the solution models will help the company to develop significant reproach to the risks ascribed as per environmental investigations.

1. Introduction Drawing out of the importance of the impact of the environment of businesses on the case of the strategic impacts created by companies it needs to be viewed that there is a larger level of impact which needs to be required to ensure a larger scale and scope of impact that can be created. It is important to understand that for the case of the overall scale and scope of the same, there is a need for understanding the imminent threats in the environment of a business. This helps in order for assuring a significant rate of change and impact which needs to be drawn out and engaged within.

This study will look into the case of the company of Coca-Cola through the means of a stakeholder matrix to determine the different stakeholders of the business effectively. This would help in order for assuring a significant rate of importance which can be derived and ensured through the scope of the company effectively. It is important to understand that through the case of the overall company and its stakeholders important aspects need to be revealed and understood effectively. This helps in order for understanding the significant rate and potential of efficacy which can be drawn out and engaged through the scope of the same.

This study will be looking into the creation of a risk matrix for the company of Coca-Cola. Through this matrix the risks indeed in the case of the market of the company will be identified and then enlisted. Three distinctive risks will be enlisted and three different solutions will be reported in accordance with the same. This would help in ensuring that the risks can be ligated to the largest extent.

2. Stakeholders In the case of the stakeholder matrix it can be viewed that there is a larger rate of importance that has been placed on the case of understanding the importance of stakeholders for a business. Ilinova et al. (2018), indicates that the stakeholder matrix defines a set of interest versus power ratio which different stakeholders of a company intend to have based on tier association with the overall business. In the context of this the stakeholder matrix is to be discussed with pivotal importance being placed on the different stakeholder groups of the company as has been derived from the environmental analysis.

Figure 1: Stakeholder matrix (Source: As influenced by Ilinova et al. 2018)

Drawing out of the stakeholder matrix it can be certain that this matrix helps in delineating the effective impact that can be brought around through the means of assuring a larger rate of undertaking association. The primary stakeholders of the company are the suppliers of the business, In the case of these stakeholders to be viewed that the business of Coca-Cola needs to be able to generate a greater element of information transference. This is because in the case of the stakeholders for the prospect of the company it needs to ensure that these elements are managed in close cohorts with the overall business. This helps in order for the development of effective potential which can be drawn out and ensured for functional importance to be placed.

The second group of stakeholders integral to the case of the business is that of the customers. However the previous study has revealed that in the case of the company of Coca-Cola the customers have a minimal interaction with the case of the company. Due to the nature of the product which prevailsin the market the customers are the least interested in the company and more so in the product. Thus, for the company the customers need to be monitored using the least amount of effort to assure that the company can effectively remain operational and ensure a high quality of efficacy of product delivery.

The investors of the company are the third and most elementary group of stakeholders. In the case of investors of a firm Stocker et al. (2020), defines that the power and the interest is very high. This is because the investors have a stake in the firm and have a decision making capacity which is inherent to this group as they also have the highest interest due to the case of their funds being within the scope of the company. Thus for this stakeholder group Coca-Cola needs to assure that it manages them closely and distinctly. This helps in order for the granting of a wider scope of impact that can be brought around and ensured overall.

Thus, it can be viewed that for the company there are different stakeholders who need to be engaged in the development of growth and additionally this helps in order for ensuring a larger rate of effective impact that is established on the scale and scope of the functionality of a company. This also plays a major role in ascertaining the overall company prospectus which is available to it.

Figure 2: Risk Matrix ((Source: As influenced by Marom et al. 2018)

Table 1: Risk Register (Source: Created by Author)

4. Solution 1: CSR Approach A CSR approach is highly beneficial for the case of the business of Coca-Cola overall as it can show that the resources of the company are streamlined and directed towards the creation of value for stakeholders of the business. Miao & Zhou (2020), indicates that a CSR business model allows for a company to take up proper rates of responsibility in terms of the overall market within which it is functional. For Coca-Cola this approach is beneficial as the prospect of sustainability accounting is involved and this helps in the creation of better resources which can be drawn out and engaged through the scope of the same.

Gligor-Cimpoieru et al. (2017), indicates that the impact of CSR on the case of packaging indicates that the environment and its impacts are taken into consideration for the case of the same. It can be viewed that through the scope of CSR in Coca-Cola Amatil it can be viewed that the company needs to ensure that it lays focus on the packaging of its products effectively. It is important to understand how the company has plastic packaging which is non-reusable and thus adds to the case of environmental degradation.

Wolska (2017), states that for the case of the overall impact which is to be determined there is an importance of social impacts which are required for a CSR model to have. The study of Wolska (2017), also implies that a major drawback in the case of CSR models is that these modes are often disengaging in nature and are unable to account for the necessary elements across the overall horizon of a study. Thus, it can be viewed that the company needs to use the methods of sustainability accounting and other such factors in order to ensure a larger rate and scale of impact wich can be generated and undertaken to assure that their sustainability issues are solved. The use of this method will allow the company to assess the different materials to be used for packaging within the spectrum of sustainable materials. This would allow the company to gauge which product is the most beneficial to it and allow it to ensure that it can generate a larger adherence to its strategic position. Sustainable accounting methods would also help decision making and would ensure that profits and customer and environmental value is used while ensuring election of the materials.

In terms of the overall impacts that are necessary to be engaged within it can be ascertained that for the company of Coca-Cola it is important to understand that this model will be beneficial due to the need for sustainability.Thus, the use of the method will help to ensure that Coca Cola Amatil is able to generate a significant stratified approach to environmental CSR. Additionally, the company has a strong internal procedural map and distinctively strong operational model. This implicates that corporate governance is high, thus, withdrawing the major drawback in terms of the overall potential of the study.

5. Solution 2: Talent Management In terms of the management of talent the major risk against which this is suggested is that of the risk of shortage of skilled manpower. Talent management is not a first option for any enterprise, however, like one that of Coca-Cola Amatil there is a need for assuring a larger rate of productivity which can be brought around and engaged within. As per the work of Khilji & Schuler (2017), it is implicative that a company needs to be able to generate a larger rate of potential through the means of effective system of succession planning and managing resources in definition of the overall impacts that these create. Verification of talent is important for the company. The understanding issued from this is that the company needs to analyse the potential of the employees in restricted environments and focus on skill development. This will help the company not only to acquire raw manpower at a lower rie and then generate significant human resource based assets for the company, but it will also create local employment which would help the company to build its brand reputation by increasing quality of life of the individuals.

Additionally, the impact of this system in case of the overall environment is essential to be scoped out and seen. In the company of Coca-Cola it is important to view that the company is inherently geared towards the generation of a significant impact on the environment through the employment of greater talent as this helps the company to exact its CSR strategy which is the first solution to the inherent risk which is present in case of its market. As a result it is important to understand that the company of Coca Cola needs to be able to assure that its system is aligned to the full preview of the environment of its business.

Adding onto this, appropriate talent management is beneficial for the case of the society as it adds value to the case of the already existing job which is present. TETIK (2017) indicates that for a company it can create value through the recruitment and selection of appropriate individuals who are necessary to be engaged within and ensured. It can be viewed this adds value to the case of society surrounding the company inherently.

The only drawback of this system is that it is unable to focus on the development of the community as a whole and it is unable to provide opportunity and development of skill to all the members of the surrounding community. However, this is countered by the fact that economic growth or the company added with the CSR model seriously discussed would generate a certain rate of effectiveness which can be beneficial to the growth of the surrounding community as well.

6. Solution 3: Innovation The final solution which has been spelled out for the case of the company in terms of the overallimpact rate which is created is that of generation of a larger level of potential which can be ascertained and ascribed to the context of the same. It is important to understand that through the overall potential of the study of Maier et al. (2017), it can be implicated that innovation is an essential factor which needs to be considered through the wide framework of an organisation. This helps in order for the development of out of the box solutions in the prospective scope of a business. Additionally, it can also be rendered that the element for the case of Coca-Cola creates a distinctive element of market productivity within which it can engage itself. This helps inorder for the generation of a larger rate of impact that can be ascribed and ensured for ensuring that growth is fundamentally undertaken through its overall purview

For the company innovation needs to be disruptive and socially oriented. It can be viewed that the risk to tackle is the risk of going against the CSR policies and sustainability policies which are set out. This implies that for CSR to be undertaken there is a need for enhancing the innovation scope for the company to address the issue of water shortage. Possible usage of lean management in an enhanced form and integrating it to waste management and recycling processes can be explored by Coca-Cola Amatil. This would help the company to ensure and generate a larger scope and potential of effectiveness in acutely addressing their present issues.

It is inevitably understood from the case of the overall inferences that the company needs to be able to generate a significant potency in the creation of impactful and direct approaches to the market. The management of the problems which are being faced through creative and innovative solutions such as waste management and integration of the same with lean management in water deprived areas will help the company to generate a larger rate of sustenance and brand value retention. This would help Coca-Cola Amatil to grow and maintain strategic alignment.

The need for this in the business arises from the scope and scale of importance as has been drawingoutfor implicating that the company can retain a certain rate of effectiveness which is quintessential to its overall growth.

7. Conclusion Derivative conclusions from this study are pointed out as major implications for the bread of Coca-Cola Amatil and the need for engaging in systematic integration. In terms of the overall potential to be undertaken and ensured it can be viewed that there is a need for assuring and ascribing a larger impact which can be developed and started into a system which can clear out important elements of efficiency and engage within developmental procedures that are pre-registered for the company of Coca-Cola.

This study has provided a distinctive contextual overview of the company and its systematic integrity. The risks which are defined through this study are clearly one of the global risks which Coca-Cola faces and thus the company and its work news to be pertinent to the case of developing a significant rate of impact which can be drawn out and ensured. This helps in order for assuring a larger rate of impact which can be engaged within and derive. It is impactful and necessary to ensure a higher rate of potential which can be ascribed and engaged within. This helps in delineating the overall impacts which are to be drawn out and ensured.

Additionally, it is important to understand that through the scope of the company of Coca-Cola it is necessary to offset the systems which have been recommended through the scope of this study to ascribe a larger potential rate of impact which can be drawn out. This helps in order for the generation of a larger rate of importance which needs to be defined and ensured effectively. This helps in order for the germination of a larger impact which can be created and engaged within to impact a certain level of importance which needs to be drawn out and derived overall.

Reference List Ilinova, A., Cherepovitsyn, A., &Evseeva, O. (2018). Stakeholder Management: An Approach in CCS Projects. Resources, 7(4), 83. Retrieved on, 20 May, from: https://www.mdpi.com/2079-9276/7/4/83/pdf

Stocker, F., de Arruda, M. P., de Mascena, K. M., &Boaventura, J. M. (2020). Stakeholder engagement in sustainability reporting: a classification model. Corporate Social Responsibility and Environmental Management, 27(5), 2071-2080. Retrieved on, 20 May, from:https://onlinelibrary.wiley.com/doi/pdf/10.1002/csr.1947

Marom, S., Lussier, R. N., &Sonfield, M. (2019). Entrepreneurial strategy: The relationship between firm size and levels of innovation and risk in small businesses. Journal of Small Business Strategy, 29(3), 33-45. Retrieved on, 20 May, from:https://libjournals.mtsu.edu/index.php/jsbs/article/download/1332/1132

Kalburan, C. and Hasiloglu, S.B., (2018). The importance of environmental attitudes towards products for sustainability and business strategies. Present Environment and Sustainable Development, (2), pp.233-246. Retrieved on, 20 May, from:https://ibn.idsi.md/sites/default/files/imag_file/10.2478%20-Volume12_issue_2%2018_paper.pdf

Ajina, A. S., Japutra, A., Nguyen, B., Alwi, S. F. S., & Al-Hajla, A. H. (2019).The importance of CSR initiatives in building customer support and loyalty. Strategic management assignment Asia Pacific Journal of Marketing and Logistics. Retrieved on, 20 May, from:https://bura.brunel.ac.uk/bitstream/2438/17288/3/FullText.pdf

King, K. A., &Vaiman, V. (2019).Enabling effective talent management through a macro-contingent approach: A framework for research and practice. BRQ Business Research Quarterly, 22(3), 194-206. Retrieved on, 20 May, from:https://scholar.google.co.uk/scholar?output=instlink&q=info:dpiAAUVEnUEJ:scholar.google.com/&hl=en&as_sdt=0,5&as_ ylo=2017&scillfp=16667187522879508394&oi=lle

Jajja, M. S. S., Kannan, V. R., Brah, S. A., & Hassan, S. Z. (2017). Linkages between firm innovation strategy, suppliers, product innovation, and business performance. International Journal of Operations & Production Management. Retrieved on, 20 May, from:https://digitalcommons.usu.edu/cgi/viewcontent.cgi?article=1370&context=manage_facpub

Miao, Q., & Zhou, J. (2020). Corporate hypocrisy and counterproductive work behavior: A moderated mediation model of organizational identification and perceived importance of CSR. Sustainability, 12(5), 1847. Retrieved on, 20 May, from:https://www.mdpi.com/2071-1050/12/5/1847/pdf

Gligor-Cimpoieru, D. C., Munteanu, V. P., Ni?u-Antonie, R. D., Schneider, A., &Preda, G. (2017). Perceptions of future employees toward CSR environmental practices in tourism. Sustainability, 9(9), 1631. Retrieved on, 20 May, from:https://www.mdpi.com/2071-1050/9/9/1631/pdf

Wolska, G. (2017). Corporate social responsibility (CSR) in theory and in practice.Selected issues. In DIEM: Dubrovnik International Economic Meeting (Vol. 3, No. 1, pp. 56-65). Sveu?ilište u Dubrovniku. Retrieved on, 20 May, from:https://hrcak.srce.hr/file/276194

Khilji, S. E., & Schuler, R. S. (2017).Talent management in the global context. The Oxford handbook of talent management, 399-420. Retrieved on, 20 May, from:https://www.oxfordhandbooks.com/view/10.1093/oxfordhb/9780198758273.001.0001/oxfordhb-9780198758273-e-6

TETIK, S. (2017). Talent Management: A review of theoretical perspectives and a guideline for practioners. Nile journal of Business and Economics, 2(4), 40-56. Retrieved on, 20 May, from:http://journal.nileuniversity.edu.ng/index.php/NileJBE/article/download/77/102

Maier, D., Sven, I., Sandru, M., & Maier, A. (2017).Integrating innovation into business strategy in the context of a service-led economy. In BASIQ International conference: New Trends in Sustainable Business and Consumption (Vol. 31). Retrieved on, 20 May, from:https://basiq.ro/papers/2017/Maier.pdf

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