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Giordanos expansion into new territories Essay Example

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Giordanos expansion into new territories

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According to the research findings, it can, therefore, be said that Giordano’s expansion into new territories is important as it would help it to exploit new opportunities in the era of rapid globalization. China as the fast-growing economy has huge market potential as its income has significantly risen, thereby expanding its consumer market. It has been successful in China and created a niche market for its Giordano Ladies brand which caters to the changing preferences of the affluent class. It has also converted some franchisee stores into self-managed outlets that have helped improve its profitability. Thus, it needs to be constantly alert and use the flexible approach to meet the management challenges of its expansion across geographical boundaries. Giordano must become more culturally sensitive in evolving its operation strategy in the future. In the current environment of rapid globalization, cross-cultural understanding should become the intrinsic part of organizational culture. It must also be incorporated into its business strategy so that it can efficiently exploit the needs of a new market. Up till now, Giordano has used similar operational and market strategy for all its outlets in Asia Pacific region. But if it intends to expand its business beyond Asia, it must understand the socio-cultural compulsions of new markets and incorporate them into its operations. It would help it to correctly interpret the changing demands of the new market and meet them by producing goods which can satisfy the needs of people. Apart from fashion, Giordano also must ensure that it maintains its excellent customer service through training and development of its workforce. Cross-cultural understanding would help it to attract new customers and earn their loyalty. At the same time, it should also strive to use local resources and help the local economy by employing local people. This would greatly enhance credibility amongst the various stakeholders and customers of the region or new market. Most importantly, it should decentralize its operations so that country-specific stores can respond promptly to local challenges efficiently and timely.

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preview essay on Giordanos expansion into new territories
  • Pages: 3 (750 words)
  • Document Type: Essay
  • Subject: Business
  • Level: Undergraduate
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