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Length: 1,000 words Weighting: 20% Visit http://www.iconic.com.au, and explore the website of iconic.com.au You must write a critical discussion of the business of iconic.com.au. Your discussion...

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Length: 1,000 words

Weighting: 20%

Visit http://www.iconic.com.au, and explore the website of iconic.com.au

You must write a critical discussion of the business of iconic.com.au. Your discussion should include, but is not limited to, the following issues:

1. The current business environment of iconic.com.au (i.e., via Porter’s five forces model) and the organisation’s strengths and weaknesses and the opportunities and threats it may face (i.e. SWOT analysis).

2. What are the core components of iconic.com.au’s business model? What value can it create for its users, its business partners, and itself? How widely applicable is the model of iconic.com.au?

3. Do you think iconic.com.au will ultimately succeed or fail? Why?

4. What are your suggestions for sustaining or/and improving the business of iconic.com.au?

Your assignment should contain:

· Table of Contents

· Critical discussion (using appropriate headings)

· Reference list (or list of sources of information or bibliography)

· Appendices (if relevant).

Marking criteria for Assessment

You will be marked on content as well as communication. This is done to emphasise the

importance of aiming for good content as well as effective communication – not only here in a university assignment, but also in your day-to-day work. After all, if you do not communicate and present your ideas well, it is much harder to have your ideas accepted by busy colleagues or executives.

Category

MC 1: Content – clear

understanding of issues (15 marks)

Specific criteria Critically discuss iconic.com.au’s current business

environment and its strengths, weaknesses, opportunities, and threats.

Maximum marks 3.75

Critically discuss the core components of iconic.com.au’s

business model, the value it creates for its customers,

business partners & itself, and the applicability of its

model 3.75

Critically discuss the future of iconic.com.au

Present your recommendations/suggestions for

sustaining or/and improving the business of

iconic.com.au and explain in detail

MC 2: Use of multiple sources of

information and Referencing

(3 marks)

Good research effort evidenced by references from a

variety of sources; Good integration of references into

your discussion; Proper practice of in-text citation and

provision of all the cited references in the reference list

via applying the Harvard Referencing Style.

MC 3: Quality, Communication

and Presentation

(2 marks)

Good use of study materials; Good use of proper

terminology; Good structure of the report; Professionally

formatted and presented; Being able to clearly express

ideas; Clarity of communication with good flow,

reasoning and argument; Concise but not over

simplifying; Spelling and grammar (use of Spell-

Checker!).

3.75

Answered Same Day Jul 05, 2021

Solution

Dilpreet answered on Jul 08 2021
147 Votes
CRITICAL ANALYSIS OF THE BUSINESS OF THE ICONIC
Table of Contents
Introduction    3
Critical Discussion of the Business    3
Analysing the Business Environment Using Porter’s Five Forces Model    3
SWOT Analysis of The Iconic    4
Core Components of the Business Model of The Iconic    5
Success or failure of The Iconic    5
Recommendations for Improvement    6
Conclusion    6
References    7
Introduction
The Iconic is an Australian online fashion and sports retailer with its origin in Sydney. The company was launched in the year 2011 and since then is moving forward on the path of success and has turned out to be one of the largest online destinations to fulfill the fashion needs with its latest, trendy and quality products. The store provides a wide range of products and includes more than 60,000 items with more than 1000
ands. This online store has been selling some popular Australian labels like Sass & Bide, Lorna Jane and many more. The store also provides its customer a wide variety to choose from international
ands like Nike, Levi’s and Adidas (The Iconic, 2020).
Critical Discussion of the Business
Analysing the Business Environment Using Porter’s Five Forces Model
1. Competition in the Industry: Iconic has been performing exceptionally well in the Australian fashion market despite of the increasing competition. The store has managed to capture a major share of the market and has faced little threat from the increasing competition. The competitive rivalry of The Iconic can be estimated to be low to medium.
2. Power of the Buyers: The wide varieties of products being sold on this platform have managed to gain the attention of a number of buyers and therefore, have provided The Iconic with an opportunity to be the fastest growing fashion retail store in Australia. The power of buyers is high owing to competitive prices and ease of switching (Chae, Choi & Hur, 2017).
3. Power of the Suppliers: The supplier concentration levels in case of The Iconic have been identified to be low. This online store has been in touch with more than 700 suppliers. The strong market position of The Iconic has enabled the retail store to minimise the threat of...
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