Introduction to the problem: Tanger outlet is a well known brand for building, operating and managing various malls. The company is known for its wide variety of brands and promises to provide lowest rate of any product in the industry. For a company its vision, mission and values are very significant as they provide foundation to strategy planning and operations. Company wants to seek professional help to validate its vision, mission and strategy so that tomorrow there is no disconnection between strategic planning.
Objective of the research: the main objective of the research is to validate Tanger Outlet mall’s vision, mission, and value statement. To validate these points we require conducting in-depth studies of various factors. The sub-objectives of the research are as follow;
1. To conduct analysis of external factors – PESTEL analysis will be done to analyze external factors and their impact.
2. To conduct analysis of internal factors - SWOT analysis will be done to procure information on strength, weaknesses, opportunity and threats for the company.
Example: in the given case of Tanger outlet we will evaluate external and internal factors to validate the vision, mission and value of the company.
External factors analysis – to measure external factors PESTLE analysis will be carried out.
Political – the company is in United States of America. The political conditions in the country are stable and government policies for company are also favorable.
Economical – economic growth of the country is good. Interest rate and inflation rate are stable. The variation in wages rates, cost of capital is not much.
Social – company need to adopt flexible strategy to go along with social trends.
Technological – while developing mall, it is very important to use latest technology in safety matters. Other technology may also be introduced depending upon the needs of the area where mall is going to operate.
Environment – Tanger Factory is mainly into infrastructure business and operate various malls on lease based model. Climate conditions do not impact its business. But yes they do change the demand pattern. Various partners of Tanger Factory need to focus on in which season what will be the requirement of customer. The company is in retailing, climate conditions do not impact the business in larger way.
Legal – various law impacts the budget. In case Tanger Factory labor law, health and safety law and employment law are critical.
Strengths of the company are – 30 retail malls in 21 states, each mall is having around 75 units and area around 300,000 sq ft., 95 percent occupancy rate in majority of the malls. Good employee strength.
Weaknesses – internal factor which hamper the growth of company. Could be de motivated employees, unfavorable policies or any strategy planning mistake etc.
Opportunity – company can target developing areas to setup malls, as government policies of various countries are becoming flexible, company may expand its business in other countries.
Threat – presence of various competitors, global economic recession .
Research Methodology: the study will require both type of research; Primary Research – Under this competitor and various stakeholders will be interviewed. For example threat to the company will be evaluated by interviewing competitors and understanding their strategy. Secondary Research – to support and validate company’s vision, mission and values all relevant data will be gathered from various secondary sources.
Sampling Methodology – official from top five competitors will be interviewed and various stakeholders will also be covered under the study.
Time frame – the whole study will be completed in one month. First week will be for designing research tools and collecting secondary information. Second and third week will be utilized to collect primary as well as secondary information. Last week will be used for data evaluation and preparation and presentation of report.
Human Resource deployment – total six fulltime people will be allocated to project. For collection of primary data two managers will be deployed, one manger will cover stakeholder and other will cover competitors. For collection of secondary data two executives will be deployed. One data analyst and one project manager will be assigned the job.
Budgeting – total cost of the project will be $ 40,000. A break up of cost can be provided upon request from client.
Progress Update – a weekly progress report will be presented to client. The report update will provide information on actual status of project, problems faced, important future dates.
Recommendations – based on the result of all research activities recommendation report will be prepared keeping in mind the objective of the study.
After successful completion of the study, client will award an experience certificate to our organization.
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QuickMBA. (n.d.). Retrieved October 24, 2011, from www.quickmba.com: http://www.quickmba.com/strategy/swot/