END TERM REQUIREMENT : Application of the strategic management process

PART 1 : Prepare the company overview of the Company of your choice

BENCH COMPANY

Bench (stylized as bench/ or BENCH/) is a Philippine retail brand of clothing, bags, accessories, footwear
and fragrances owned by Suyen Corporation. Bench was established in 1987, opening as a small store
selling men's T-shirts. The company has since grown to include a ladies' line, underwear, fragrances,
housewares, snacks and other lifestyle products. Bench has expanded to overseas territories, including
the United States, Middle East, China, Myanmar, and Singapore.[1]Bench Philippines is not affiliated
with Bench UK as Bench Philippines is the original and was founded earlier than its English namesake.

The tower of the Bench company in Bonifacio Global City, Metro Manila, Philippines

BENCH/, owned by Ben Chan, is a clothing brand based in the Philippines establishedin 1987. The
success of Suyen got the nod of the SM group for Nenita and Ben to open aconcession at their prime
department store, SM Makati. With a small store selling men’s t-shirts, Bench grew at an unparalleled
rate by being the pioneer in the use of celebrityendorsers, television and giant billboards to propel a
fashion brand that offers premium quality products at affordable prices. When the Bench boutique was
launched in 1989 atPark Square, Ben got the then rising actor Richard Gomez to be the Bench image
model.Bench is a leading lifestyle and fashion chain in the Philippines. From its humble beginnings,the t-
shirt offerings expanded into a whole lifestyle store, offering Fix Salon for hair productsand services,
stationary line Prescribe(r), Bench Brats for teenagers, Bench Body and Bath specialize in bath and
fragrance products, and now HerBench offering a complete women'sline, including fragrances and
cosmetics.HistoryBENCH™ started out as a small business selling men’s t-shirts consigning at
department stores like Shoemart and Landmark back in 1987. This was common at that time wherein a
brand would be known for just one item alone and when with underwear you think of JOCKEY™, the
same was true for t-shirts you thought of BENCH™. The brand is actually a contraction of its founder’s
name, Mr. Ben Chan, who is currently the company’s Chairman and Chief Creative Director. Back then,
he was solely responsible for the designs of the t-shirts and oversees the production of these garments.
He runs this company along with thehelp of the couple Mr. Virgilio and Mrs. Nenita Lim until now (the
latter being his sister). Mr.Virgilio Lim is in-charge of System and Operations while Mrs. Nenita Lim
manages the company’s finances. Also in the executive board is the couple’s son Mr. Brian Lim and the
company’s Over-all General Manager, Mr. Jude Ong. BENCH™ established their first store at the “Quad”
which is now more popularly known as Glorietta in Makati while another stand-alone store was built in
SM North Edsa eventually. At that time, BENCH’s logo was of much literal take with an actual bench
integrated on the logo’s design. Later on, the “bench” was dropped and the brand name stood by itself
but not for long. Around the latter part of the 1990’s, before the internet became a global phenomenon,
BENCH™ joined in on the technology craze adding a “/”(slash) to their trademark signifying its forward
and futuristic vision for the brand. The logo in proliferation now is of the word or brand name “BENCH/”
in white color placed on top of a red rectangle. With a small store selling men’s t-shirts, Bench grew at
an unparalleled rate by being the pioneer in the use of celebrity endorsers, television and giant
billboards to propel a fashion brand that offers premium quality products at affordable prices. When the
Bench boutique was launched in 1989 at Park Square, Ben got the then rising actor Richard Gomez to be
the Bench image model. Bench is a leading lifestyle and fashion chain in the Philippines. From its
humble beginnings, the t-shirt offerings expanded into a whole lifestyle store, offering Fix Salon for hair
products and services, stationary line Prescribe(r), Bench Brats for teenagers, Bench Body and Bath
specialize in bath and fragrance products, and now HerBench offering a complete women's line,
including fragrances and cosmetics.

Vision
To be a recognized world brand among the best world brands

Mission
When we create, we inspire.

When we make, we innovate.

When we lead, we serve.

2. Analyze the mission statement based on the elements of the Mission Statement

Mission

When we create, we inspire.

When we make, we innovate.

When we lead, we serve.

3. Conduct your external analysis using the PORTER diamond

4. Conduct your SWOT analysis

5. Describe the firm’s business strategy , corporate strategy and global strategy