New York University Fossil Diversification & Growth Strategy Discussion

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YRTNY_4125_1627499639

Business Finance

New York University

Question Description

I’m trying to study for my Business course and I need some help to understand this question.

Use one of the Business Strategies: Cost Leadership, Focused Cost Leadership, Differentiation, Focused Differentiation.

Fossil is facing pressure to diversify because its industry is facing huge challenges and its future looks bleak OR it has grown so big in their industry that it is running out of growth.

Analyze that Fossil’s current industry. Determine how the company should change strategy and diversify itself into better financial shape.


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Strategic Position and Competitive Scope: Generic Business Strategies Broad Cost Leadership Differentiation COMPETITIVE SCOPE Narrow Focused Cost Leadership Focused Differentiation Cost Differentiation STRATEGIC POSITION
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Fossil diversification and growth strategy
A company like Fossil that is facing challenges because of its current position requires
generic strategies to help it grow. Generic strategies are business strategies developed by
Michael Porter that a company like Fossil could use to gain a competitive advantage (Business
Jargons, 2019). The plans include cost leadership; differentiation, focused cost leadership, and
focused differentiation. These strategies will help Fossil Company in achieving competitive
advantage. Fossil is a company that deals with designing, marketing, and distribution of fashion
accessories. The company offers a line of earrings, jewels, handbags, fashion watches,
sunglasses, and belts for both men and women. The Fossil was founded by two brothers, Kosta N
Kartsotis and Paulina Perepelkin, who still own 30% of the company's shares to date. As a
designing company, the best generic strategy to be used for it is the differentiation strategy...

NagvdhrGhgbeAngny (13707)
Rice University

Anonymous
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