Laura Ashley : a Strategic Analysis

Topics: Internal control, Financial audit, Auditing Pages: 2 (401 words) Published: November 5, 2010
Laura Ashley Plc . is a small family company with very specialised products spread in the Europe , UK and US . Started by the Ashleys in 1953 the company kept on embracing new products and companies and integrated vertically . The key for the significance and the competitive edge of the company was the design philosophy of Laura Ashley . Although the company faced a shock after the death of Laura Ashley but the company followed the line of Laura 's designs . By 1985 the company established its own supply chain and kept on supplying the products at shops . The Company also implemented the Information system for effective communication with in the company Sales practice :

The Company established the shops with the same design and undertaken research and development activities in order to analyze the consumer preferences regarding the brand . As a result of the surveys conducted the company found the brand name as the major asset of the company , which could prove to be the main source of competitive advantage of the company .

Internal factor Evaluation (IFE ) of Laura Ashley Company
``A summary step in conducting an internal strategic- management audit is to construct an internal factor Evaluation (IFE ) Matrix . This strategy formulation tool summarises and evaluates the major strengths and weaknesses in the functional areas of a business , and it also provide a basis for identifying and evaluating relationships among those areas . Intuitive judgements are required in developing and IFE Matrix , so the appearance of a scientific approach should not be interpreted to mean this is an all-powerful technique . A thorough understanding of the factors included is more important than the actual numbers (David , 161-162 )

Internal Audit
In order to effectively compete in the industry it is important for the company to analyse the its internal strengths and weaknesses . So that strengths should be used to take advantage of the opportunities for...
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