MC6006 - International Fashion Strategy (2020/21)
|Module specification||Module approved to run in 2020/21|
|Module title||International Fashion Strategy|
|Module level||Honours (06)|
|Credit rating for module||30|
|School||Guildhall School of Business and Law|
|Total study hours||300|
|Running in 2020/21||
This module extends prior learning on the fashion industry, consumer research, supply chain management, online fashion retailing, branding and marketing communications and fundamentals of management in order to focus on the motives and explanations relating to strategic decisions made by fashion retail businesses both in the UK and internationally. Examples of strategic issues include: engagement in e-commerce and m-commerce, branding strategies, luxury fashion strategies, differentiation strategies in fashion businesses, fashion sector analysis, competitive advantage, critical success factors, strategic brand positioning, international entry modes. The module covers the most recent developments in international retail management, international management of resources, strategic marketing planning and corporate strategy. International Fashion Strategy differentiates itself from other level 6 planning and strategy modules in that it brings together knowledge from the fields of corporate strategy as well as international business; furthermore it applies this combined knowledge to real-time fashion businesses. During this module, students will learn the main international business concepts, frameworks and theories, which form the basis of their understanding of international retail strategy. This advanced module is supported by academics and practitioners with experience in international retail.
The main aims of the module are to:
- develop students' understanding and knowledge of the main theories, models and concepts of international strategy with direct application to the fashion retail environment
- develop students’ understanding and knowledge of the internationalisation process
and the various options available for international SME and LSE expansion
- develop an understanding of the scope of marketing research in designing and implementing successful international marketing strategies
- enable students to enhance their critical thinking abilities and their capabilities to develop strategic solutions to businesses in a variety of retail contexts and situations
Skills development includes: problem-solving, academic reading, researching, critical thinking, and academic writing, digital literacy and IT skills, time management, team skills, independent working, referencing skills, intellectual discussion and awareness of contemporary debates in the business management related disciplines. Assessment components provide the vehicle for skills development.
- Definition, scope and challenges of international business expansion with application to fashion retailers LO1
- Defining domestic, international, multinational, multi-domestic and global operations LO2
- The internationalisation process: SMEs vs LSEs; comparative analysis; patterns of internationalisation in fashion retail LO1
- Introduction to corporate strategy: mission, vision, objectives, goals (short, medium, long-term), unique selling proposition; definition, scope and challenges of strategic planning; classic theories, strategic vs tactical plans LO1
- Sources of information and the role of primary and secondary data in market screening; opportunity assessment and segmentation (including cluster analysis) LO2
- Macro and micro environments of international business and the impact of these and other factors on fashion retail activities; key factors to success, emphasis on competitive benchmarking in fashion retail LO3
- International business plan implementation and coordination; fashion retail mix decisions; product strategies, international product life cycle (IPLC), diffusion of innovation and the role of branding in international markets; branding strategies, characteristics of born- global fashion retailers; international communication strategies; international pricing strategies and practice, including the mechanics of price setting in international markets; international distribution strategy, e-commerce and the changing international marketplace; physical evidence; marketplace vs marketspace – the retail environment, layout, atmospherics; E-tailing and m-tailing strategies; LO3
Balance of independent study and scheduled teaching activity
The module is delivered over a 27-week period and consists of 3-hour workshops each week. Supporting material is made available via Weblearn, which facilitates a blended learning approach to include wider reading and other materials to support the syllabus. The applicative part of the workshops serves to anchor knowledge imparted in the theoretical part of the workshop and provides a forum for:
- A better understanding of lectures through small group discussions, case study/ journal article/problem solving analysis and interchange of questions and answers.
- Assist students in relating their knowledge to the fashion retailing discipline and profession
- Applied understanding of technical skills required for carrying out research to assist in employability skills for future careers in fashion retailing. Students will need to consider this aspect of the module as part of their personal development and be able to produce examples in a portfolio of the research skills for a future employer. In addition, the seminars incorporate summative and formative feedback for students to have an opportunity to reflect upon and evaluate their performance.
There will be activities run by Careers and the Work placement Office with the aim of enhancing work skills, which will complement the subject specific knowledge gained during our workshops.
On completion of the module students will be able to:
1. Exhibit critical understanding of the main theories of international strategy with direct application to the fashion retail environment
2. Demonstrate understanding of how fashion retailers develop their strategies within domestic, international, multinational, multi-domestic and global contexts
3. Evaluate international business strategies
1) Individual written examination (unseen) Learning outcomes assessed: LO1
Students’ depth, breadth, knowledge and understanding of the first thirteen weeks of taught material is tested through a 3-hour individual written examination. Students are required to make use of advanced reading from many academic journals articles in order to critically review a given body of international fashion strategy concepts, frameworks and theories.
Skills development: improve one’s ability to think critically and write effectively in relation to current issues in fashion retail strategy (I,P,A), develop the skills to analyse, synthesise and evaluate a large body of concepts, ideas and theories related to fashion retail strategy (I,P,A); individual research skills (P,A); time management skills (P,A); intellectual discussion and awareness of contemporary debates in the business management related disciplines (I,P,A).
2) Group report Learning outcomes assessed: LO2
Skills development: research skills (P,A); skills collation of relevant data and the synthesis of information to make meaningful analysis (P,A); critical judgement regarding the quality and validity of data and the analysis of information to develop appropriate plans (P,A); improve the ability to work independently (P,A), significantly improve one’s enterprise skills, including taking initiative, showing leadership, taking calculated risks (I,P,A), completing tasks and projects (I,P,A); referencing skills (A).
3) Group presentation Learning outcomes assessed: LO3
Skills development: oral presentation (P,A), researching and analysing data (P,A), problem- solving (P,A), team skills (P,A), synthesis skills (P,A), time management skills (A) digital literacy and IT skills (P,A).
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Strategic Management Journal
Long Range Planning
International Journal of Strategic Management
International Review of Retail Distribution and Consumer Research
Journal of Marketing Management
International Journal of Sales, Retailing and Marketing International Journal of Electronic Marketing and Retailing Luxury
Business of Fashion Magazine
Drapers Fashion Magazine
Fashion Gone Rogue Fashion Mag
Mintel Keynote Reports
The Wall Street Journal
Daily Fashions Collective