Internal and External Analysis of Next Plc

Internal and external analysis of next plc

An Internal and External analysis of NEXT PLC

INTRODUCTION

To find the successes, growth and profit of a company in the previous years and also to determine what their future will be in the coming years one need to see what opportunities lies ahead.

NEXT is the UK's second-largest clothing retailer after M&S, and targets the midmarket 25-44s. (Mintel, 2009) NEXT is a specialty retailer of apparels, footwear, related accessories and home products. The company is engaged in retailing, home shopping and customer services management. (Global Markets Direct, 2009)

This report is based on the analysis done on the micro and macro environment of the company. The results found are presented using SWOT analysis; Generic Strategies (Differentiation, Focus, Cost Leadership) and Mix Map Model (Analysis of 4Ps and PLC, BGM, Ansoffs), to determine the strengths and weaknesses, as well as opportunities and threats of NEXT plc. The analysis is also done by PEST (Economic, Political, Technological and Social) and also an analysis using the Porter's five forces, focusing on the current environment of the company.

The information gathered in the research is used to construct an executive summary which will provide the company's vision and give them a sense of where they are heading to. The whole of the analysis mentioned above were done so as to analyse the current situation of NEXT plc and also find more opportunities for future strategies in other to enhance growth.

MISSION ANANLYSIS

A mission Statement is a short, succinct statement declaring what business you're in and who your customer is. By offering such focus, it provides direction for future corporate development. (Birnbaum associates, 2009)

Birnbaum stated that it is important to include two dimensions in Mission Statement, the first dimension will be an inside-out description of what you do, describing the product or service you supply, and the activities you perform inside the walls of your company and the second dimension of that statement is the "Who buys it, and why?", the market sided point of view.

NEXT MISSION STATEMENT

The company's objective is to offer quality fashionable clothing, accessories and furnishings