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TASK: STRATEGIC MANAGEMENT

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Table of Contents
Introduction........................................................................................................................3

Mission, vision, and values of BACHI Barcelona..............................................................3

Internal analysis based on evaluation of BACHI...............................................................4

Competitive advantages and disadvantages.................................................................4

Tangible Resources.......................................................................................................5
Intangible Resources.....................................................................................................5
Capacities.......................................................................................................................6
VRIO evaluation of BACHI Barcelona's resources........................................................6
The strengths and weaknesses.....................................................................................7
External Analysis...............................................................................................................8

PEST Analysis...............................................................................................................8
5 Porter Forces..............................................................................................................9
Opportunities and Threats:..........................................................................................11
Strategy proposition.........................................................................................................12

Defensive Strategy.......................................................................................................12
Offensive Strategy........................................................................................................12
Survival Strategy..........................................................................................................12
Reorientation Strategy.................................................................................................13
BSC in the form of a matrix.............................................................................................13

Michael Porter Analysis...................................................................................................14

Strategy in Cost Leadership.........................................................................................14

Differentiation Strategy................................................................................................15
Focus Strategy.............................................................................................................16
Conclusion.......................................................................................................................16

References.......................................................................................................................17
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Introduction
For this strategic management project, BACHI Barcelona, a fashion industry that
specialises in accessories and handbags, was selected. Friends Nuria and Meritxell
recognised a gap in the market for high-quality, yet attractive, accessories and set out to
start their own companies (BACHI Barcelona, 2021). There is constant competition for
first place in the market between BACHI's key competitors, Zubi and Afortunadas. A key
objective of the research is to discover the factors, both internal and external, that may
be responsible for the company's future growth and success. As of 2016, BACHI had a
workforce of nine and a revenue of fewer than two million euros. (BACHI Barcelona,
2021), the company's revenue has expanded dramatically as a result of this continually
rising quantity. Ultimately, the company's assets and liabilities are examined, along with
threats and opportunities.

Mission, vision, and values of BACHI Barcelona

Mission

 To ensure that clients receive the best possible products.

 To boost annual revenues.
 To provide high-quality products, such as handbags and other accessories.
 To provide customers with one-of-a-kind, custom-made handbags.

Vision

If we succeed, we'll be renowned and respected as one of the top handbag and
accessory makers in Barcelona. The things we make as a firm are also designed to be
environmentally friendly. Customer satisfaction and recognition as the top handbag
maker are two of our key objectives. It's in our blood to be the best on social media. We
can't wait to go head-to-head with our competitors and give them everything we've got.

Values

 Quality: Choosing which products to feature on our website is based primarily on

their quality. Providing a product that exceeds client expectations is essential. All
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of BACHI's products, including their handbags and accessories, are made with
extreme care and attention to detail.
 Commitment: We promise to meet any delivery deadlines set forth by our
customers. All of our products can be customised to match the specific needs of
our customers. For this reason, we make a point of outlining the advantages of
our products on our website.
 Passion: Our brand, BACHI, was born out of a desire to produce handbags and
other fashion items following current trends. Our job is what drives us.

Internal analysis based on evaluation of BACHI

Competitive advantages and disadvantages

Only if a company has a high level of sustainability and new concepts can it be
considered to have a competitive edge (Chatzoglou & Chatzoudes, 2018). Both of these
elements are critical to the growth of a business. Additionally, they are crucial for
achieving the best possible outcomes or results (Ignasiak-Szulc, Ju & Bogatova, 2018).
It is essential that the firm maintains its originality and individuality in the competitive
market and that the storey behind each product reaches every customer to increase
their interest in the brand.

Competitive Advantages

 One of BACHI's competitive advantages is its tight contact with the company's
material suppliers. A positive working relationship with one's suppliers is not always
possible for every business.
 Handbags made by Bachi, a Japanese company, are more environmentally friendly
than those made by its competitors. Handbags from BACHI are made of eco-friendly
materials.
 Their products are manufactured in Barcelona, which gives BACHI a competitive
advantage. Some businesses will never be able to rely on domestic manufacturing
(RaventosGascon, 2020).

Competitive Disadvantages
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 Products can only be purchased online. BACHI items can only be purchased online.
 Because Zubi is a well-known brand, it can be found all over the world.
 As compared to Zubi, BACHI lacks expertise in marketing and economics.

Tangible Resources
To save money and resources, the organisation needs to identify several changes that
can assist determine the tangible resources available to it (Kamasak, 2017). Financial
physical resources include suppliers and customers, bank fees, utilities, and business
accounts.

Physical

Handbag manufacturing materials include a wide range of things. Examples include

leather, zippers, paint, and fabric. If the bags are available, they should be checked
often to see if the stock is ready for sale. Manufacturing bags necessitates the
availability of physical property such as machinery and vehicles for production, cameras
to monitor the process, and so on.

Financial

The two owners are the sole owners of the business. As a result, BACHI benefits from
the efforts of both parties. They've got a lot of happy customers and vendors. When it
comes to bank fees and commissions, they provide business account expansion with
favourable conditions.

Intangible Resources
Intangible resources are tough to come by for both the heirs and the competitors.
Intangible resources become second nature after a certain amount of time. Those
connections are what accounts for this. Some examples of how these resources are put
to use include close links with suppliers (such as through brand awareness and an
online store), the use of ecologically friendly materials (e.g., through fashion blogs), and
a love for what you're doing. Some of the various options are shown below (Khan, Yang
& Waheed, 2019). It is possible to categorise human and non-human intangible
resources into two categories. It also includes a pledge to complete a certain task
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(Makadok, Burton & Barney, 2018). Human intangible resources can be traced back to
a unique interaction between BACHI and its suppliers. Partnerships with suppliers,
marketing firms, social media networks, and garment makers are examples of a
company's human intangible resources.

Capacities
Founded by two accomplished businesswomen with a shared passion for designing and
manufacturing high-end, handcrafted accessories and bags, BACHI was born (Rehman,
Mohamed & Ayoup, 2019). Innovative design isn't lost for environmentally friendly items
(Vartanova & Kolomytseva, 2019). BACHI has a solid supply chain thanks to its network
of more than 20 vendors.

VRIO evaluation of BACHI Barcelona's resources

BACHI's savvy use of VRIO analysis to measure its competitive advantage and
resources demonstrates its analytical power. VRIO stands for Value, Rareness,
Limitation, and Organization. The table below shows the VRIO study of BACHI
Barcelona.

VRIO Analysis Value Rarity Imitability Organization

Manufacturing space for bags Yes No No Yes

Both partners provide capital Yes No No Yes

Buyers and sellers Yes Yes No Yes

Partners with legal and fashion

Yes Yes No Yes
knowledge

Continuity of production commitments Yes Yes No Yes

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Blogs for news and events Yes Yes No Yes

Online stores, catalogues Yes No No Yes

E-newsletter Yes Yes No Yes

Satisfaction Yes No No Yes

The strengths and weaknesses

Strengths Weaknesses

 Excellent at completing legal  Less engagement in social media

processes marketing
 Intellectual capitalism is good
 Less presence in overseas markets
 Provides eco-friendly items
 No financial accounting help
 No strategic direction
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External Analysis

PEST Analysis

Figure 1: PEST Analysis

Source: (Solov'eva et al., 2018)

 Spanish politics becomes a driving force for trade policies (Cohn & Hira,
2020).
Political
 Factors influencing the creation of a management system

Economic  •Spain's economy has changed dramatically in recent decades

(Harrison & Corkill, 2016).
 The manufacturing and service industries account for the majority of
total employment (Prados de la Escosura., 2017).
 Spain ensures that policies and other relevant facts reach the EU as
efficiently as feasible (Tel, 2016).
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 About the needs of the clients and productivity criteria, BACHI virtually
entirely outsources workers from other countries as well as from within
Spain.

 The social structure aids the country's contemporary fashion company.

Social  The impact of trendy clothes on the country's social economy.

 The country's technological innovation will help it become the largest e-

commerce platform (Soto-Acosta et al. 2016)
Technological  Using electronic commerce to facilitate online sales for businesses and
consumer purchases (Valarezo et al., 2018).

5 Porter Forces

Figure 2: Porter’s Five Forces

Source: (Marino, 2016)

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1. Bargaining power of the suppliers: When it comes to working with vendors,

BACHI may be considered one of the companies that do so well. A variety of raw
materials are used in the final product's creation, thus they currently have 20
suppliers. However, they have just begun intending to work with local green
suppliers. To gain a local market, this technique could help, but the cost of those raw
materials will be greater than the price of regular materials because they will have to
be imported from nations and those countries will raise the entire cost price (Ciani.,
2017). When dealing with a corporation that needs as many materials as possible
from its suppliers, the supplier's bargaining power would be larger than in any other
situation. It would provide suppliers with an opportunity to negotiate the pricing of
their products.
2. Power of negotiation of the consumers: To reach its customers, BACHI has
employed a variety of strategies. For a long time now, they've been relying on social
media to get their message out to customers. They place a high value on telling a
compelling storey about each of their products so that customers can see the
connection between the product and their own lives and the importance of the
purchase. In addition to introducing new items and making enhancements to existing
ones, the business might educate customers about the value they receive from their
products. As a result, consumers typically do not have the option of negotiating the
price of a product because they are more likely to accept it based on its added value
and relevance.

3. The threat of substitute products: There are a lot of rivals in the textile industry in
Spain, which has made the public more open to trying new brands. It is easy to
replace a low-priced buyer because they are a price switcher. A range of social
media marketing methods is being employed by this company to bring in new
customers. Using substitutes is a risk because of their accessibility and
performance. In contrast to other brands, BACHI Barcelona does not follow the
latest trends. Customers are enticed by the similarities (Bachi Barcelona, 2021).
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4. The threat of new competitors: As long as BACHI remains focused on Barcelona-

made goods, new competitors pose little of a threat to their market share. The
products would be difficult for other companies to replicate. " Product differentiation
can be affected by handbags and accessories, so a new competitor may not be able
to compete effectively. Even if BACHI is the only company in the market producing
handbags and accessories, the market will always be crowded. There will always be
new rivals, but the success of a business is determined by the quality of its products,
not by the quantity.
5. Rivalry among competitors: Due to a huge number of competitors, there will be a
constant level of strong competition in the marketplace. It's not just Zubi and
Afortunadas that BACHI has to contend with. They've had a long history of heated
competition because they operate in the same market. They would always try to win
over customers to raise the worth of their goods above that of rival enterprises. A
strong rivalry may ensue because of the many different companies' high hurdles to
entry. Corporations can start a new business and compete with the established
players in the industry with a few physical stores. The earlier companies would lose
customers if their products become more affordable at some point in the future. This
could make it tough for a customer to choose if there are too many options (Spiegler,
2016).

Opportunities and Threats:

Opportunities Threats

 New innovative products  Competition in the market

 Impact of marketing through social media  Trying to adapt eco-friendly suppliers
 Participation in many events and  High cost of materials due to change
campaign programs in suppliers
 Uniqueness and originality of the  Different political and economic
products factors affecting business
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Strategy proposition

Defensive Strategy
In this research, the term "defensive strategy" refers to the creation of various tactics to
protect the company's strengths and minimise its vulnerabilities (Dandage et al., 2019).
There are several ways in which the corporation could attempt to resolve the situation.
Among these are:

 With more and more products for both genders, BACHI could ensure that all of th
eir customers' needs are met.
 To save money, new methods of selling could be implemented.

Offensive Strategy
To put it another way, offensive plans combine a company's assets with potential
actions it could take (Hunger, 2020). Some of them are::

 There is a possibility that they may extend their business on a local level, which
would be beneficial to the organisation as well.
 BACHI may want to look towards bringing in more local suppliers, which could
aid in the company's growth and marketing efforts.
 Other than handbags and accessories, launching new products could be
beneficial because it would attract more customers' attention.

Survival Strategy
The company's survival plan may be simplified if the company's weaknesses and
dangers could be integrated into one cohesive whole. Such as:

 When it comes to negotiations with suppliers, a firm's interests could be

threatened, thus the company would profit if these negotiations could be
conducted in its favour.
 It would be beneficial for the company to diversify its resources and products, but
it would be prohibitively expensive. Because of this, it would be beneficial for the
organisation if these expenses could be properly monitored.
 To avoid customer complaints, the inefficiency of work should be improved.
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Reorientation Strategy
The reorientation strategy refers to the combination of vulnerabilities and opportunities.
These are the factors that need to be taken into account for the company's overall
success in the market. This may include things like:

 Consolidating your business by joining forces with other companies throughout

the world.
 Newmarket strategies to improve the marketing of the organisation and to attract
new customers.
 To ensure long-term profitability and growth, the entire product market needs to
be reoriented.

BSC in the form of a matrix

When an organisation uses a Balanced Scorecard or BSC, it can measure how well it is
achieving its strategic goals (Al-Zwyalif, 2017). Strategic plans are regularly used to
make sure that the company's activities are organised according to strategy and vision.
It was designed to assist businesses to meet their financial goals. An analysis of the
company's initiatives can be done by traditional BSCs. Growth, financial, customer, and
business are the four dimensions of a balanced scorecard. BACHI Barcelona collects
and analyses data from a financial, customer, and process-oriented perspective.

Operational Aims Quantification Targets Initiative

efficiency of measures
Bachi
Barcelona
Learning a cooperative a rise in the Being able to Providing a
effort among all number of new reach out to consistent client
of the stores and stores and clients experience by
production locations through both ensuring that all
facilities offline and attendees are
the ratio.Between online properly trained.
the number of channels is
new hires and the essential.
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number of
employees that
leave the
company
Internal Streamlining maximising the It's important Leadership,
communication effectiveness of to have a communication,
between human capital pool of and customer
management and experienced service skills can
employees Enhancement of and efficient be taught to
the work-life workers. employees in a
Maintaining a balance variety of ways.
healthy work
environment
Customer Products that are Observations and Being forming a
worth their price opinions of recognised dedicated staff to
clients as a brand respond to client
Affinity with the that delivers concerns and
brand Acquiring a larger value for recommendations
pool of potential money
a variety of buyers Creating a
products with
locations offer dedicated team to
a cutting-
post-purchase Expanding your handle customer
edge product
support market service after the
is the key to
winning over sale
customers.
assembling a
social media
marketing and
public relations
crew to promote
new items
Financial Cost-cutting a rise in the value Every RFID technology
measures of the brand and quarter, a 25- can be used to
the market 30 per cent implement
a rise in profits increase in automation and AI.
Obtaining raw
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An increase in supplies on time revenue. Improved products

profit is essential. at a lower cost are
the goals of
product
development and
research.
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Using a balanced scorecard for strategy performance can be advantageous. So, it's a
well-prepared report that can be utilised by the management department of a firm to
monitor how its personnel are performing various jobs and the outcomes that occur from
these actions (Hamdy, 2018).

We'll go over BACHI's report card in the paragraphs that follow.

It can be seen from the preceding scorecard that the firm's goal has been defined in
terms of learning, internal, customer, and financial factors.

There are no problems between the company's retail locations and its manufacturing
facilities. To maintain a positive work environment, the company's upper management
and employees are always in touch. They provide good value for money to potential
clients and have a customer service strategy they can put into action. Maintaining a tight
grip on operating costs is another strategy utilised by the company.

Expanding into new markets and regions, keeping a healthy balance between the
number of people it hires and the number of employees it dismisses, maximising the
productivity of its human resources and boosting the brand and market value are just a
few of the company's other priorities. Several elements were taken into consideration
when the corporation came up with its target, which included both physical and online
outlets, as well as a yearly rise in revenue.

A few recent initiatives by the corporation include developing an integrated network for
their clients, allowing varied teams of individuals to collaborate, and finally, focusing on
fresh research for their new products at a reasonable cost. (Fanea-Ivanovici, 2018).

Michael Porter Analysis

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A Harvard Company School professor, Michael Porter, has written several books on
business strategy. He was a firm believer in the need for companies to develop and
implement a long-term plan to remain competitive.

Strategy in Cost Leadership

The company can obtain a competitive edge by implementing Porter's cost tactics. By
cutting costs, a company can increase its profit margins (Kharub, Mor& Sharma, 2019).
Firms that leverage Cost Leaderships to be successful include:

 Logistics that work

 They have the financial resources to make investments in cutting-edge technology
that will eventually lower their costs.

Maintaining a presence in an extremely competitive market requires the use of this

strategy (Mortazavi, RasoliGhahrodi & Rostami, 2017). Every business should conduct
a thorough market analysis to identify the company's strengths, weaknesses, threats,
and opportunities (Ameer & Othman, 2021). Organizations can get a competitive edge
in the market and expand their overall market share by providing customers with the
best pricing and value for their products (Subrahmanyam & Azad, 2019).

A deal will have to be worked out between BACHI Barcelona and the city's raw material
suppliers, as well as the cost of subcontracting services. An agreement to cut the price
of the company's products is made with the company in exchange for its services. There
should be at least a 10% reduction in costs from the company. The company's ability to
save costs by evaluating raw sources in nations with lower tax burdens should be taken
into consideration. For Barcelona's BACHI to accept semi-finished goods from all over
the world, it must enter into arrangements with distributors to receive such goods.
BACHI should create the final contract so that it receives a product that keeps its
originality and distinguishing characteristics.

Differentiation Strategy
Customers are willing to pay more for unique and distinctive products, which is the
foundation of the differentiated strategy's approach (Jyoti, Arora & Kour, 2017). As a
manufacturer of handbags and other accessories, BACHI has always been a highlight.
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They've established a range of marketing strategies to stand out from the competition
and attract new clients. To be successful in their marketing strategy, organisations must
have a team of product developers who are both innovative and knowledgeable
(Semuel, Siagian & Octavia, 2017). To increase sales, they need to be able to do
market research and contact potential customers. Only an excellent sales force with the
capacity to describe the product's distinctive attributes and reassure clients that they are
getting good value for their money will suffice for this (Chelanga et al., 2017). Building a
brand value is the most significant component in distinguishing their products from
those of their competitors. Every new product will need to be marketed such that people
are eagerly anticipating their debut.

For being successful, the organizations need to meet certain needs:

 To increase the company's profits, some level of R&D, innovation, and

development are essential.
 Quality products and services must be provided by the firms to their customers.
 Increase your market share by utilising differentiated techniques that are well-
understood by your target audience.

Focus Strategy
In a focused approach, a corporation focuses on showcasing its items in an organised
manner, and this technique is called "concentration" (Helmold, 2019). To reach their
intended audience, BACHI must break down their market into manageable chunks
using this tactic. As a corporation, our primary goal would be to extend our market share
by utilising various marketing strategies that would allow us to establish new
connections with our target audience. Choosing profitable products and commencing a
high-quality production process without sacrificing the product's quality (Islami et al.,
2020). One of the two forms of the generic strategy will be focused on.

 In its targeted market, a business aims to get a competitive pricing advantage.

 In its targeted structure, a business seeks to differentiate itself.
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To be successful in today's market, it's critical to choose between a differentiation

approach and a cost leadership plan. Once a corporation has decided to use the Focus
strategy as its primary method, it will no longer be sufficient in the market.

The focus of this approach is on bringing something new to the table to meet the needs
of the target audiences. If you can add anything more, it will help lower expenses or
increase differentiation.

Conclusion
We've covered the positives and negatives of BACHI Barcelona in this report. We've
also discussed the opportunities and challenges that could have an impact on the
company's long-term viability. Custom and distinctive handbags are the specialities of
the company, which is run by two women and is a leading brand in the field of
production. High and medium quality products are sold by the firm. Furthermore, the
handbags produced are one-of-a-kind and handcrafted. It also identifies actual and
intangible resources, as well as highlights the company's competitive advantages and
drawbacks. Competition for BACHI is fierce because it does not have a physical
location. Because of this, the corporation needs to take a significant step to maintain its
position in the market.
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