Business Report: Timberland
Overview Of The Organization
Timberland is one of the leading shoe manufacturer and distributor that offer wide range of shoes for women, men as well as kids. They started their operations in the year with global headquarters located in United Kingdoms. They operate through their own store as well as through online store that has helped them to reach more customers thereby fastening their growth and expansion to other more than 50 countries. They operate as subsidiary of VF Northern Europe Ltd. They have dedicated workforce that has helped them to deliver consistent services to their customers thereby helping them to expand their business globally as well as help them to gain competitive edge over other players operating in the market (Timberland , 2019) .
Timberland being operating in Retail industry is subjected to large number of business factors from internal and external business environment that tends to affect their business operations from varied points thereby affecting their way through which they devise their policies and strategies. This is particularly true in terms of external factor which are way beyond the control of business which needs to be effectively manage and address to minimize their impact on their operations. For instance, retail industry is affected by various economic and changing government rules and regulations which has not only impacted their operations but also sales and profits margins earned by them. For example, open trade policy of New Zealand has promoted and foster entry of various international players in the market wherein they can conduct free trade that has intensified degree of competition prevailing in the market thereby affecting market
share of the players operating in the industry. Further, industry has seen various technological developments such as use of augmented and virtual reality that has changed the way in which customer purchase and consumes these products which is both an advantage as well as disadvantage for players operating in the market thereby affecting their growth in national as well as international markets (Tanuja, 2019) .
The detailed analysis and their impact on business operations and resources are as follows:
Political And Government Rules And Regulations
These are among those critical factors that any business irrespective of industry in which they operates need to identify and address the same thereby ensuring they continue to grow and expand without any legal consequences. This part of external business factor is defined by large number of factors such as rules and regulations in the context of various business areas and employments, tax rate as well as political stability that impacts business in many ways. For instance, political stability of country is a major factor that affects business growth which is due to low corruption and high degree of government support that foster smooth functioning of business activities and operations. Further New Zealand has been ranked among top three least corrupted countries that have further provided opportunities for players operating in the market. Hence, Timberland needs to identify and monitor all these factors thereby strategizing theiractivities so as to make sure they continue to grow with increasing sales and profits in longer run (PESTLE Analysis, 2015).
Impact On Business Systems
Timberland being operating in retail industry is affected by large number of political factors that defines the way in which they define their activities and business operations. One of the factors that affect the business is ta rate prevailing in the market which is around 28% which needs to be adhered to make sure they continue to grow at faster rate without any legal actions and consequences (New Zealand Government , 2019) . However New Zealand due to stable political environment and business support, they have been ranked one of the best destination to start business which has impacted their sales and profits in longer run. For instance, the country has been ranked one of the least corrupt country in world wherein every process is well defined and describe that has provided all sort of support for business to conduct their activities and expand on the strength of these political stability. In addition, they need to comply with additional taxes such as GST tax rates which need to adhere so as to ensure they capitalize market opportunities.
Hence as far as Timberland is concerned, they need to modify their operations and polices in such a way that helps them to adopt according to changing rules thereby ensuring they continue to grow. This will make sure they expand their operations beyond their existing business boundaries (study.com, 2019) . this is a sample business report of timberland from topicwize.
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Impact On Business Resources
These factors not only affects business systems and operations, they tends to have large scale impact on business resources thereby affecting the way in which these resources are identified and allocated thereby affecting their profits and revenue margins. For instance, employment rules and regulations are constantly changing which needs to be implemented and adopted by business thereby impacting their human as well as financial capabilities and resources besides affecting their operational efficiency. For instance, the government of New Zealand has recently made certain changes in their employment rules such as introduction of due diligence wherein the firms needs to appoint a new health and safety officer that will increase their overall cost of operation and hiring due to additional recruitment of health officer. However, they need to make sure they effectively allocate their resources thereby strategizing the use of all available resources. Hence, these changing rules have forced the businesses to reform their strategies in beneficial way ensuring long term growth and survival of business (BC Campus , 2019) .
Legal And Legislation Factors
Every country has certain legal rules and regulations that affect various business irrespective of industry in which they operate which needs to be adhere to ensure smooth functioning of business. For instance, Timberland and other business needs to implement various provision of varied acts such as health and safety act, compensation act to name a few which helps to make sure they expand their business locally as well as internationally. For instance, according to Health and Safety act, the business needs to provide all sorts of health and safety measures such as provision for first aid that needs to comply with so as to avoid any legal consequences and trouble. Hence, businesses needs to adhere to these changing rules and regulations thereby creating and delivering more value to their customers as well as stakeholders. Further, they are subjected to other legislation such as resource and environmental protection act such as pollution act which has to be effectively integrated in business activities and operations. Further being in
retail and manufacturing industry, they are further subjected to other laws such as personal protective equipment act and substance hazards that focuses on ensuring health and safety of their employees besides avoiding any legal trouble required for long term growth of business (CEOpedia Management Online, 2019).
Impact On Business Systems
These legal factors affect business operations from large number of ways that needs to be
effectively manage and adopted in business activities so as to foster growth and expansion of business in longer run. For instance, the New Zealand has recently reform their Health and Safety act wherein they have recently introduced a new provision for designing their strategies in the context of interest and concerns of their stakeholders thereby ensuring their health and safety is maintained from every aspects. Further according to new rules and legislation, these businesses have to appoint an floor supervisor whose primary duties is to monitor and implemen safety policies required to prevent any accidents during course of employment. Hence, according to these laws, they need to devise and implement various provision required for achieve high degree of safety thereby safeguarding health of their employees. The failure to do the same can land business in legal trouble with imprisonment of around 5 years and fine of around $6,00,000. Hence, Timberland has to make sure they identify these changes thereby reforming their strategies accordingly (saylordotorg, 2019) . this is a sample business report of timberland from topicwize.
Impact On Business Resources
These legal rules and regulations tend to impact business resources as well as the way in which they strategized their business activities and policies. For example, due to changes in these rules and regulations, it has made compulsory for businesses to appoint risk manager and risk handling team which will not only help them to minimize these risks but will also help in effectively meeting various compliance requirement which will help to conduct their business with utmost ease. However, for doing the same, they need to allocate additional human resource and financial resources for the same that somewhere can affect their financial and profit margins and capabilities. For instance, they need to allocate certain part of their budget to such operations thereby need to change their policies and activities accordingly. This will make sure they adhere to these changes thereby having less impact on their operations and activities besides enhancing their sales and market reputation in longer run (Farooq, 2019) .
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Along with other external factors, economic factor is among one of those factor that affects business capability to serve their customers as well as the way in which they conduct their business functions. These factor are define and identify by large number of components such as inflation rate, manufacturing and consumption rate, market trends and economic stability that defines economic conditions prevailing in the market. For instance, the price of commodities and services are influenced by rate of inflation prevailing in the country. This impacts the overall profit margins earned by these players thereby affecting their financial capability and strength. The country has witness an increase in inflation by around 2% which has enhanced the price of various services and products offered to their customers. Further, the country has seen faster development in economic infrastructure that has enhanced their economic stability that has
promoted free trade in national and international boundaries thereby providing ample growth opportunities for players operating in the industry as well as new players that are entering in New Zealand market. However the country has reform their certain trade strategies that has foster growth of business through easy import and export activities as well as free market has helped various players to establish themselves in the market of New Zealand. Hence, Timberland has to effectively identify and manage these factors to ensure that they continue to grow in the market (easybank Import, 2018) .
This is a sample business report of timberland from Topicwize
Strategy to minimize the impact on business systems
Hence as far as Timberland is concerned, they can make use of various strategies that will help them to cope up with these changing rules and economic patterns thereby helping them to achieve their strategic goals and objectives. For instance, one of the strategies that they can use is effective planning and forecasting of their budgets and funds available with them which will make sure they allocate their financial capital in productive way without wastage or inappropriate allocation that can have large impact on their financial strength and capabilities.
For instance, they can plan for their operational risk by formulating strategy for risk management as well as other aspects of firm that will help them to effectively mitigate various risk faced by the firm. This can be done through mitigating risk by collaborating and partnering with third parties such as insurance companies that will help them to share such risk with third parties thereby helping to minimizing the impact of the same. Further, they can purchase all their raw materials in bulk quantities as well as can design their products in large quantities that will help them to achieve economies of scale that will help in reducing overall cost of operation besides increasing their profits and sales revenue. Hence Timberland can make use of combination of strategies such as risk mitigation and economies of scale that will help them to minimize the impact of same thereby having positive impact on their operations and business activities (DhanurChauhan, 2018),
Strategy to minimize the impact on business resources
In the context of economic factors faced by the firm, one of the strategies that they can use is implementing a systematic approach towards these resources that will help in effectively managing and allocating these resources required for long term business growth and survival.
For instance, they can make use of total quality management philosophy that will help to
improve from every aspects thereby achieving higher quality in their products and services thereby increasing customer satisfaction. Further, they can purchase their resources as per as their requirement that will help them to manage their financial strength as well as resources available with the organization. This can be done through benchmarking their activities with standards in the industry thereby strategizing their activities accordingly. This will make sure they operate with increasing profits and revenue thereby increasing their prospect of further growth to national and international markets (LexisNexis, 2019) .
Business world has witness rapid changes in terms of technology with newer technology are constantly being introduced which is changing the way in which businesses operates and conduct their business activities. This has forced them to revise and update their strategies as well as the way in which they allocate and utilize their resources. Hence as far as this factor is concerned, it is identified and define by technological developments, commercialization of technology as well as research and development which has up to certain extent prove to be disruptive to the business world. For instance, robotics and automation technology has been increasingly use in business world wherein robots are being used for various activities right from procurement of raw material to customer service. This is well backed up by advances in internet and mobile technology that has helped business to reach geographically disperse group of customers through
offline as well as online modes of business. However, this has increased competition among firms operating in the same industry owing to ample opportunities for players to expand their business on the strength of technology that they utilized. However on the other side, such technology has helped to create and deliver more value to their customers that have helped them to expand their business in terms of revenue and profits earned by the firms (Genpact, 2019) .
Strategy to minimize the impact on business systems
In the context of these changing technological infrastructure, one of the strategy that they can use is to implement an exclusive and structured monitoring process and system that will help in identifying these changes as well as positive and negative risk associated with it thereby helping them to understand these technology as well as way of integrating the same in the business activities and operations. This can be done through use of various advanced decision support and resource management software’s that will help them to make strategic decisions as well as allocate the required resources accordingly required for long term business growth and survival.
Further, they can adopt certain analysis techniques such as risk and cost benefit analysis and net present value approach that will help them to understand their expected returns on investment as well as value of their present and future cash flow thereby helping them to take decision accordingly required for sustaining competitive business environment. This will make sure they achieve their intended goals and objectives thereby ensuring success of business through addressing these technological factors (MERCER, 2019) .
Strategy to minimize the impact on business resources
As far as changing business systems are concerned, one of the strategies that they can use is to reform their training and development program so that their workforce acquires newer skills and technology required for sustaining and adopting these technologies thereby helping Timberland to capitalize market opportunities by creating newer and higher value to their customers. However such training programs must be implemented at every level of the organization thereby making sure they adopt and implement these technologies in their business operations. Moreover, they should effectively identify right type of technology for them as it requires huge investment thereby affecting their financial capabilities and profits margins at longer run. This will help them to realize their goals in faster way thereby achieving competitive edge over other player’s operating in the market. Hence, such practices have to be done with utmost care while allocating resources especially financial resources which usually requires heavy investment in
the same (Linton, 2019) .
Sustainable business is recent topic wherein every business is trying to implement such sustainable practices in their activities thereby achieving sustainability that will help in meeting present as well as future needs of their company in terms of resources and customer needs and satisfaction. Hence, as far as sustainable business is concerned, it involves restructuring their organization in terms of culture, policies and practices thereby achieving their organizational present as well as future goals and objectives. For instance, they can make use of CSR programs that will create and deliver more value to their community and environment in which they operate thereby helping them to survive and grow for longer period of time. For instance, they can make use of green and alternative technology that will help them to operate in sustainable manner besides having positive impact on their sales and profits margins which is required for long term business growth and survival (bthechange, 2018) .
Strategy to minimize the impact on business structure
Hence as far as sustainable management is concern, one of the ways for doing the same is to revise their overall strategies at corporate goals wherein certain business process and
technologies has to be reform and restructure which will help them to move their organization towards sustainable management that will effectively help in meeting their present as well as future needs of the organization as well as community in which they operates. Moreover, these changes have to implement at higher corporate and senior level management with communicating their sustainability goals to the entire organization. This not only involves formulating strategy for sustainability management but it also involves devising strategies at various functional level of business such as finance, Human resources as well as operational activities that will take Timberland a step ahead towards sustainability and sustainability management. Further, another strategy that can be used by Timberland is effective stakeholder analysis which will help in identifying their most critical and important stakeholder through prioritizing their stakeholders on the basis of power exerted by their stakeholders with formulation of effective strategy for keeping their stakeholders involved in business goals and
operations. For example, Timberland operates in manufacturing and retail industry; they can devise strategies for managing pollution as well as carbon generated by them which can be done through constant research and development that will make sure they achieve sustainability at every level of business and operations. In addition, they can update their compliance requirement which will help them to comply and meet all regulatory requirements that will create and deliver more value to their customers as well as community and environment in which they operate thereby ensuring constant growth and development of their business in national and international markets (Mckinsey & Company , 2010) .
Strategy to minimize the impact on business culture
As far as resources are concerned in the context of sustainable development, they can make use of various resource management software’s as well as resource management practices and procedures that will help them to identify requirements in terms of their resources thereby appropriately allocating resources required for moving business towards sustainability. This will help them to achieve and meet their goals thereby achieving competitive edge over other players operating in the market. For instance, they can reallocate their resources as well as reschedule their activities through data and information collected and analyzed which will help them to take correct decision at the right time required for achieving sustainable growth and expansion of business. Hence, as far as Timberland is concerned, as they have large number of customers globally, they can make use of such software’s that will help them to manage their resources in better way thereby achieving their corporate goals and objectives (Manseto Ventures, 2019) .
This is yet another factor that has impacted business in many ways which is social trends such as changing demographics, demand patterns as well as changing needs of their customers that has changed the type and quality as well as quantity of products purchased and consume by the population. However, there has been cultural shift that has changed the basic needs and wants of their customers which is based on their cultural and ethnic backgrounds. For instance, the country has seen many changes in terms of population and demographics in last few decades that have changed their market demand as well as the demand of various products. For instance, the
country has seen increase in number of immigrants especially through Asian countries that has surge demand for varied products and services that has provided ample growth opportunities for players operating in the market. In addition, there is change in taste and preference of customers that has forced many businesses to change their products accordingly so as to meet changing needs and demands of their customers and market. Hence as far as Timberland is concerned, they need to conduct market research so as to identify all these changing market place thereby formulating strategies accordingly required for long term business goals and objectives (Quain, 2019) .
Impact of social trends on strategic performance of business
These social trends affect business from various aspects that has forced businesses to undergo changes in terms of their policies and strategies .This has force businesses to implementing these changes in their business activities. For instance, there has been increase in number of Asian immigrants as well as immigrants from Australian countries that has introduce cultural shift thereby forcing market players to change and revise their strategies in according to these changing needs and demands which is affected by their cultural background. Further, the country has seen increasing use of internet and mobile devices that has open up venue for players to promote their business through social media platforms that has helped them to acquire new customers thereby increasing their sales and profits in longer run. Further, there is increase in demand for high quality of products which are made from ecofriendly resources which has force many players to adopt sustainability and other practices so as to meet changing needs of their customers through creating and delivering higher value to their customers and stakeholders. Further this is back up rapid globalization that has opened up venue for international players to start their business in New Zealand. However, these changes have to be identified thereby devising strategy for the same (study.com, 2019) .
Strategy to minimize the impact on organizational culture
These changes not only tend to affect business goals and objectives, but will also affect
organizational culture. Hence, in the context of same, one of the strategies that they can adopt is use of advanced systematic approach which will help in identifying and managing these resources required for long term growth and expansion of business activities and operations. For example, they can make use of integration approach wherein cultural shifts can be effectively manage at every level of business thereby minimizing the impact as well as integrating the same in business activities. Hence as far as Timberland is concerned, they can adopt six approaches such as integrity, transparency, honesty, and trust that will help them to reform their organizational culture thereby helping to address changing business environment. Further they can include and built a diverse workforce that will further help in minimizing the impact of
cultural shifts on business goals and activities.
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From the above data, it is evident that for smooth functioning of any business, they need to
effectively identify and address various external and internal factors that tend to have large scale impact on their operational capability and practices. For instance, Business world has witness rapid changes in terms of technology with newer technology are constantly being introduced which is changing the way in which businesses operates and conduct their business activities.
This has forced them to revise and update their strategies as well as the way in which they
allocate and utilize their resources. Further, the country has undergone rapid changes in terms of economic and political reforms that has force business to actively revise their way of working thereby having positive as well as negative impact on their profits and revenue earned by them.
For instance, the price of commodities and services are influenced by rate of inflation prevailing in the country. This impacts the overall profit margins earned by these players thereby affecting their financial capability and strength. The country has witness an increase in inflation by around 2% which has enhanced the price of various services and products offered to their customers. Hence to conclude, Timberland needs to adequately allocate their resources and identify these factor thereby devising strategy for addressing the same that can have long term impact on their business growth and survival.
This is a sample business report of timberland from Topicwize.
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Timberland . (2019). About us. Retrieved from www.timberland.co.nz: https://www.timberland.co.nz/
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