Introduction:

There are several aspects that have an impact on every company operations. The
factors may be internal, external, or both in nature. In the very competitive business
world of today, businesses may concentrate on putting effective strategic management
strategies into action (Worthington and Britton, 2009). This is a case study on apparel
brand Zara, which is an international brand based in Spain. It has a great brand image
world wide. The first Zara store debuted in 1975, and in 1983 it began to spread
throughout Spain. The launch of Zara stores in a number of locales, including Paris,
the UK, the US, Portugal, and other European countries, was successful in 1990. The
company began selling housewares in 2003 and till 2007 it was only one brand of its
kind (Business Of Fashion, 2019).There are now 1830 Zara outlets globally,
distributed across 96 countries. Zara is able to meet her clients' demands in a fair time
period ( Kato, 2018). However, a lot of internal and external factors influence Zara's
performance. These are discussed in further depth in the next sections of the research.
Beside this Zara’s strategy in global environment, sustainability and ethics is also
discussed in this case study.

1. Assessing Internal And External Environment Of Zara

1.1 Internal resources

In order to evaluate an organization's strengths, weaknesses, opportunities,  and

threats in market prospects, an internal analysis looks into the organization's internal
environment (Mainela, 2012). The business offers premium design products at fair
costs as a result of its cost leadership approach. SWOT Analysis will also help to
evaluate the strengths and weakness of online clothing brand Zara and future threats
and possible growth opportunities will also be highlighted.

1.1.1 SWOT Analysis

A well-known and popular method of company analysis is the SWOT analysis

(Vaněk, 2020). Its usability, which integrates both internal and external analysis, as
well as its effectiveness, are what make it desirable(Ha, 2021).
Table 1 SWOT analysis of Zara
Strengths Weaknesses

 Popular brand name globally  Constant need replace old styles may
 Good brand image lead to compromise on quality
 Use of Vertical integration model  Limited marketing
 Have a robust supply chain and retail  Lacks a solid marketing strategy
network  Sustainability commitments are hard
 Faster operations then competitors to follow
 Quick product cycle  Environmental strategy lacks
 Greige goods for quick transparency.
manufacturing
 Minimum manufacturing cost due to
less waste
 Good customer relationship
 Loyal customers
 Excellent quality products

Opportunities Threats

 Applying modern technology Like  Competitors are making huge

AI and machine learning numbers
 Personalize the consumer's  Brands offering similar products for
experience a lower price
 Focus on online marketing  Brands that copy Zara’s design and
 Improvement in e-commerce and sell it at cheaper price
smart retailing  Foreign policies may affect
 Target countries with more international business
population  Unforseen events like Covid-19
Pandemic

1.2 External Resources

Several strategic techniques and methods may be used to evaluate the external
business environment and its elements (Jarillo, 1989). The external environment of
Zara is investigated using the PESTLE and Porter's five forces models.

1.2.1 PESTLE analysis for Zara

PESTLE analysis includes six areas of macroeconomic variables: political,

technological, economic, legal, environmental, and sociocultural. Despite the fact that
the macroeconomic landscape is still mostly unpredictable, this model aids managers
in identifying the macroeconomic factors that must be taken into account for the
company's growth (Kotler, 2010). In order to improve future forecasting and help us
make the best judgments possible today for the future, the model will then start
conceptualizing numerous possibilities based on these unknown factors.

1. Political

Manufacturers of textiles and apparel must take a variety of political factors into
account. Supply chains and sales may be abruptly disrupted by high tariffs and trade
restrictions, and operating manufacturing and other international firms may become
very challenging (Bhasin, 2019). In order to avoid paying higher taxes, the
government may so encourage people to make local purchases. Zara's operations are
significantly impacted by these difficulties, yet it successfully manages them.

2. Economic Factors

Depending on the state of the economy, consumer spending might be encouraged or

discouraged. GDP, currency rate, inflation, and product demand are all examples of
financial circumstances and impacts (Best, 2005). During a recession, the clothing and
garment industry may suffer because consumers may be unwilling to spend money on
luxury apparel. In the case of recession people focus on basic needs such as food and
shelter. The retail industry's sales and profitability may decline. If a result, as the
economy grows, the retail sector may benefit more (Brooksworth, Mogaji and Bosah,
2022). Zara's pricing policies are influenced by domestic and international economic
situations, and adjustments are made as necessary.
3. Social factors

Demand for clothes and associated items changes according to the demographic and
socioeconomic features of the customer base. For example, elderly individuals may
like loose-fitting gowns, whereas younger people prefer miniskirts and tight pants
(Parrish, 2016). Furthermore, when customers grow more knowledgeable, they make
more rational purchase decisions. Customers in the United Kingdom would rather
spend their money on vacations, healthcare, and education than on branded items
(Jasuja, 2012). Customers are drawn to Zara by its alluring clothes, which encourages
them to make purchases. Zara finds it challenging to comprehend the demands of
customers with different ethnic backgrounds and cultural norms.

4. Environmental factors

Globally active businesses view sustainability as an essential component of growth.

They must also abide by all relevant environmental rules and regulations and refrain
from harming the environment, the world, or people (Goworek and Mcgoldrick,
2015). In order to compete with its fierce rivals, Zara must also abide by numerous
environmental laws in other nations.Three of Zara's biggest competitors, Gap, H&M,
and UNIQLO, have all adopted sustainability policies to help in the administration of
their firms. Zara uses ecologically friendly raw materials and production practices to
preserve the earth.
5. Technological factors

In the fashion industry, human intelligence frequently replaces computers and related
technologies while producing goods. Many information and communication
technologies are used by businesses to communicate with clients and comprehend
their demands (Ziv, 2010). Through a variety of technologies, including the internet,
websites, and social media, Zara maintains its online presence, communicates with
customers, and engages in online business. The ability of innovative technologies to
prevent product obsolescence makes them essential to the retail industry. Global
commercial success and cutting-edge innovations are Zara's primary goals.

5. Legal factors

As more businesses outsource manufacturing to foreign nations, rules governing

workers' rights and child labour are coming under scrutiny. This comprises the legal
framework governing employee safety, safe working conditions, and employment
rights (Fernie, Fernie and Moore, 2015). Zara must do business in accordance with
regional legal requirements as well as international norms and laws.

1.2.2 Porter Five Forces

Porter's Five Factors evaluate the opposing forces in Zara's external environment as
strong, medium, or low. Retailers with a well-known brand, like luxury companies,
can yet demand much higher costs (Michaux, Cadiat and Probert, 2016). The industry
is well-established, and there are little barriers to entry, therefore the market will
reach saturation quickly.

1. Threat of New Entrants

The scale of the sector makes it tough for new enterprises to make a mark in the
market. Businesses in the fashion sector are in charge of paying a variety of expenses,
such as marketing, production, and distribution (Porter, 1998). Smaller businesses
struggle to pay manufacturing costs and other related charges because they cannot
afford these fees but Zara being a multinational brands has minimal threat from a
new rival.
 2. Bargaining Power of Suppliers

The fashion garment industry has a limited supply of suppliers, which limits its
bargaining power. These suppliers may provide raw materials to clothing
firms(Varga, 2010). Western firms usually purchase low-cost raw materials from
underdeveloped countries. Furthermore, it is difficult for suppliers to create a
competitive edge over rivals in commodities such as cotton and linen. This results in
lower  bargaining power of suppliers, allowing  Zara to buy raw materials at a lesser
cost.

3. Bargaining Power of Buyers

In the fashion retail industry the bargaining power of buyer is medium. The important
thing to note is that customers have indirect negotiating power. Businesses must not
only match client demand but also distinguish themselves apart from the competition
to create a difference and maintain relationship with the customers(Chae and
Heidhues, 2003). Customers have a number of options to get, they see their own ease
and availability of product at brands . Owing to the reasonably priced and better
offers people may shift clothes brands (Hampton and Stratopoulos, 2015). Customers
are drawn to Zara by its innovative and alluring products, which it uses to win their
loyalty. Competitors of Zara, on the other hand, may draw buyers by creating
fashionable apparel.

4. Threat from Substitute Products

Clothing is necessary because it protects and comforts the body. Since clothes cannot
be replaced, the availability of replacements has minimal influence on the profitability
of the garment sector(Amelia et al., 2019). If there are no clothing brands people
would have to stitch their garments them. One issue is that there are several
businesses that offer clothing and other fashion accessories (Singh, 2018). High-end
retailers, stores and fashion wholesalers are among these sources. These suppliers
may copy Zara’s design which might not be affordable for all. Customers might
readily switch from expensive Zara clothing to a business that provides high-quality
items at a lower price.
 5. Rivalry among the existing players

The fast-fashion business model has been adopted by a large number of companies,
which has increased competitiveness in the fast-fashion apparel sector (Bruijl, 2018).
Likewise, a number of clothing manufacturers have publicly listed their enterprises on
overseas marketplaces,hence it is  difficult for them to rapidly quit such markets
(Arrigo, 2020). Since Zara operates on a worldwide scale, it competes with local,
foreign, and global fashion clothing companies. Because of its unique selling
proposition, Zara has been able to stand out in a cutthroat market.

New
Entrants
threats in
industry

Rivalary

Poter’s
Threats of
amoung
existing
existing
substitutes
Players
Five
Forces
Power of Power of
Suppliers customers

Figure 1 Poter's Five Forces

2. Strategy in the Global Environment

Numerous factors, including the internal status of the business and the general health
of the global textile and apparel sector, have an impact on Zara's development and
internationalization. The internationalization of the textile and apparel industries is
accelerating, and foreign competitors are emerging (Akehurst and Alexander, 2013).
Through mergers, acquisitions, and tactical alliances, a sector can be consolidated.
YIP’s Model

Market Drivers:

Shared consumer demands, global consumers, global channels, and transferable

market share are examples of internationalized market drivers that are influenced by
consumer behaviour characteristics and the design of distribution networks
(Bauernfeind, 2006). One of the most prestigious business properties in New York,
666 Fifth Avenue, was purchased by Inditex for $324 million (Levitt, 2019). The
business has previously made significant investments in other high-end and important
locations all around the world.

Cost Driver

Cost driver of business include global scale economies, s logistics, variations in

prices, product development costs, and continuously advancing technology. These
elements have an effect on the worldwide market participation, global product, and
global activity location levels (Palmer, Alexander and Doherty, 2010) . From 2014 to
2017, Inditex's average lease costs were 10% of its revenue . Additionally, capital
expenses, which were mostly caused by the construction of extra physical space, were
7.5% of sales on average (Inditex, 2014). The bulk of Zara's items are made in Spain,
where labour costs are frequently higher than developing nations like Asian
countries.  Thus,  Zara have to charge more than its competitors, who have completely
outsourced their production to countries that have lower manufacturing cost.

Competitive Driver

High exports and imports, competitors from other continents, connectivity across
countries, and globalized businesses are competitive globalization drivers that boost a
firm's potential for internationalization and need a worldwide strategic response
(fibre2fashion, 2021). Inditex paid a fraction of what fashion retailers typically spend
on advertising, which ranges from 3% to 4% of sales. Specialty stores, the world's
largest retail network, responsible for 58% of clothes and shoe sales. Department
stores accounted for 15% of total sales (Pons, 2022). Partial vertical integration is
more typical than full vertical integration, and fashion firms are becoming more
vertically organized and flexible. using current technologies to improve efficiency and
competitiveness(Tsoukas and Chia, 2002). Zara's has the lowest inventory as a
percentage of annual sales as compared to its closest global competitors, including
Gap, Fast Retailing Co., and H&M (Waldow, 2022).

Table 2 Inditex-Zara and competitor data, 2021

Zara H&M Gap
Net sales $3.51 B $23.07 B $16.56 B
Business model Vertical integration Partial Vertical Partial Vertical
integration integration

Internationalization Comprehensive and Progressive growth Targeted and slow

rapid worldwide at a moderate pace
expansion plan

E-commerce Sales $5847 M $6341.1 M $4781.9 M

Business areas Accessories, Accessories, Accessories,
cosmetics, and cosmetics, and personal care, and
apparel apparel apparel

Governmental Driver

Zara is an international brand so it has to take in account different governmental

drivers of internationalization like overseas trade policies, manufacturing standards,
business laws and ethics, government-owned apparel businesses. There are concerns
related to host nation that are influenced by national government regulations and
decide how all global strategy will be used (Vogel and Kagan, 2002). Zara has the
chance to gain first-hand knowledge of both its American rival Gap and the fashion-
conscious consumers in a sizable market. The United States was once thought of as a
market with a high degree of risk(Mafalda and Morgado Costa, 2017). Due to issues
in nations like Mexico and France, Zara decided to hire locally in order to better grasp
what the local market needs. Zara puts a lot of effort into spreading knowledge so that
everyone may share the same business principles. In order to maintain consistency
throughout all of Zara's international markets, the company's corporate office in Spain
oversees the subsidiaries.

Market Driver

Governmental International Cost Drivers

Strategies
Driver

Competitive
Driver

Figure 2 YIP's Model

3. Corporate Strategy

Zara's unique, adaptable, and innovative business model has facilitated the company's
rapid expansion. The company has set itself apart from other companies in the same
industry because to its unique business approach. It has given Zara a considerable
competitive advantage both domestically and internationally (Hugos, 2020).

Vertical integration model

Zara has used vertical integration business model to keep its supply chain working
smoothly. Zara is able to keep stronger control over the value chain and adjust swiftly
to changing client demands by buying enterprises at various points along the value
chain (StudyMoose, 2017). Zara handles everything herself, including design,
delivery, and presentation, with only a little help from others. Thus, They can access
pertinent information at any level. The information may then be evaluated to detect
inefficiencies, highlight areas of success, and offer precise projections (Mozzhukhina,
2015).

1. Design and Production

Zara wants to produce all of the fabric for their clothing in-house. 40% of the fabric
used to make their clothing is produced by them (Tokatli, 2008). The fabrics that are
outsourced are coloured utilizing subsidiary dye products of the company rather than
being dyed. The manufacturer then applies dye to these materials to make them
suitable for use in the creation of clothing. Basic goods like t-shirts and jeans are
produced by suppliers.

2. Customer Centric

According to Zara's business philosophy, a firm must be customer-centric if it is to

compete in a cutthroat industry over the long term. The business considers the
preferences and expectations of its customers in order to meet their demands precisely
as desired. Zara has invested in fabric production facilities in Spain, a well-known
manufacturing area (Levine, 2013). The technique of manufacturing enables the
company to make its own textiles more swiftly and economically. The corporation
may be able to precisely monitor and, to some extent, meet client demand, allowing
them to attract more customers and promote brand loyalty. Production schedules are
successfully and consistently managed on a daily basis.

3. Timely Adaptation

According to the company policies, its brand must quickly adapt to changing fashion
trends. It is difficult to foresee the fashion industry and much more difficult to exert
influence over it (Drake, 2016). The company's target market consists of younger,
more fashion-conscious customers who urge their friends, family, and coworkers to
develop their own sense of style.

4. Design control

Zara keeps the production and design sectors close to the management headquarters to
guarantee close collaboration and control. It assures that only better-quality goods is
manufactured. The employment of qualified workforce and top-notch machinery has a
huge influence on clothes production.

Figure 3 Vertical integration business model of Zara

4. Strategic Purpose

Corporate Social Responsibility (CSR)

Zara's business procedures and practices are meant to not obstruct or burden the well-
being of people or the environment. Thus for corporate expansion they have used
different tactics to fulfil their corporate social responsibility. (Rajmanthri, 2005).
Zara's management can assure the company's long-term economic performance by
minimizing connected risk factors and attaining community-building targets and
objectives.

Carroll’s CSR pyramid

Carroll's CSR pyramid highlights the benefits of corporate social responsibility and
how it should be implemented. The paradigm established four core elements of
corporate social responsibility (CSR) that are named as economic, legal, ethical, and
philanthropic responsibilities (Carroll, 2016). Since a firm cannot fulfil its other
obligations if its economic aims are not achieved, economic duty is at the base of the
pyramid.

Figure 4 Carroll's CSR Pyramid

Economic responsibility

The following economic initiatives help Zara meet its financial obligations so that it
may maintain its viability and carry on with its business operations for the benefit of
all interested parties.
1. Generate high and consistent level profitability.
2.Minimize costs.
3.Reduce waste.
4.Increase product and service quality.
5. Maximize sales.
6. Maintain strong competitive positioning.

Legal responsibility

Zara satisfies its legal obligations by doing the following:

1. Providing goods and services that adhere to legal requirements.
2. Adopting labour legislation.
3. Contract completion.
4. Maintain the rules governing intellectual property
5. Protect personal information and privacy.
6. Adherence to environmental protections.
 Ethical responsibility

Zara satisfies its ethical duty by undertaking the following actions:

1. Sets higher minimum salary for its employee.
2. Take employee welfare initiatives.
3. Ensures that all raw materials are obtained responsibly from vendors that respect
the environment.
4. All parties involved, including distributors, workers, and suppliers, are treated
fairly.
5. Adopts ethical labor practices for supply chain partners
6. Take steps to reduce the carbon footprint,
7. Invest in environment-conscious businesses.

Philanthropic responsibility

The following actions are taken by ZARA to fulfil its philanthropic responsibility:
1. Encourage its employees to donate a certain number of hours to charity each
month.
2. Commits a particular portion of earnings to different social causes.
3. Generates money to support the educational initiatives.
4. Support health-related projects
5. Aids in the execution of volunteer programs for greater social well being
6. Offers educational institutions, both public and private, voluntary aid
7. willingly supports the performing and fine arts
8. Plans the cultural activities for the community.

Conclusion

Zara should follow its diversification strategy by using its knowledge, competences,
and financial resources in the form of profitability. To diversify, management must
make an informed decision on whether to manufacture related or unrelated
commodities. According to research, both internal and external variables influence
Zara's business operations. The brand requires to show more transparency in its
sustainability strategies and also invest more in online marketing in order to thrive in
the changing global market. Zara must develop ways to strengthen their sustainable
competitive advantage while also developing brand equity as they are able to give
more items to their worldwide audience, allowing them to compete with their rivals
and eventually generate brand loyalty.

Assessment self evaluation

Tasks Explanation
Assessing Internal In order to access internal environment of Zara
Environment Of Zara SWOT analysis is performed. SWOT analysis gives
strength, weaknesses, opportunities and threat of the
business .Future prospective expansion opportunities,
as well as the strengths and limitations of the online
fashion store Zara, will be highlighted helping the
organization to thrive in global market.
Assessing External To examine the external business environment and its
features, a variety of strategic tools like PESTLE and
Environment Of Zara
Porter's five forces models are applied. This
promotes company growth into new markets, helps
with forecasting and change adaptation, and opens up
opportunities to outperform rivals.
Strategy in the Global To evaluate the strategy of Zara in global
environment we used Yips model. Through YIP’s
Environment
model we were able to analyze, market, competitive,
governmental and cost drivers of Zara in
globalization
Corporate Strategy The corporate strategy of Zara is evaluated . Zara
uses vertical integration model which facilitates the
global expansion of enterprises through the
establishment of distribution centers in other areas or
the purchase of other brands
Strategic Purpose
For corporate growth Zara has employed a variety of
strategies to fulfil their corporate social
responsibility. Carroll's CSR pyramid, which
comprises four components, is employed for this
research that are economic, legal, ethical, and
philanthropic responsibilities
References

Akehurst, G. and Alexander, N. (2013). The Internationalisation of Retailing.

Routledge.

Amelia, D., Murni, I., Putri, A., Badri, J. and Johan, H. (2019). A Study of Clothing
Industry Competitiveness with Porter’s Five Force Approach in Kabupaten Agam
Central Industry (A Preliminary Study of Ampek Angkek, Banuhampu, Sungai Puar) |
KnE Social Sciences. [online] knepublishing.com. Available at:
https://knepublishing.com/index.php/KnE-Social/article/view/4306/8894.

Arrigo, E. (2020). Global Sourcing in Fast Fashion Retailers: Sourcing Locations and
Sustainability Considerations. Sustainability, [online] 12(2), p.508.
doi:10.3390/su12020508.

Bauernfeind, M. (2006). Drivers of Globalization: Integration of Theories and

Models. GRIN Verlag.

Best, R.J. (2005). Market-based management : strategies for growing customer value
and profitability. Upper Saddle River, N.J.: Pearson/Prentice Hall.

Bhasin, H. (2019). Business Model of Zara - How does Zara make money? [online]
Marketing91. Available at: https://www.marketing91.com/business-model-of-zara/.

Brooksworth, F., Mogaji, E. and Bosah, G. (2022). Fashion Marketing in Emerging

Economies Volume I. Springer Nature.

Bruijl, G.H.T. (2018). The Relevance of Porter’s Five Forces in Today’s Innovative
and Changing Business Environment. [online] papers.ssrn.com. Available at:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3192207.

Business Of Fashion (2019). BoF Careers | The Business of Fashion. [online] The
Business of Fashion. Available at:
https://www.businessoffashion.com/organisations/zara.

Carroll, A.B. (2016). Carroll’s Pyramid of CSR: Taking Another Look. International
Journal of Corporate Social Responsibility, [online] 1(3), pp.1–8.
doi:10.1186/s40991-016-0004-6.
Chae, S. and Heidhues, P. (2003). Buyers’ Alliances for Bargaining Power. [online]
papers.ssrn.com. Available at: https://papers.ssrn.com/sol3/papers.cfm?
abstract_id=497062 [Accessed 19 Dec. 2022].

Drake, D. (2016). Zara’s ‘Fast Fashion’ Business Model. [online] Wharton Global
Youth Program. Available at: https://globalyouth.wharton.upenn.edu/articles/zaras-
fast-fashion-business-model/.

Fernie, J., Fernie, S. and Moore, C. (2015). Principles of Retailing. Routledge.

fibre2fashion (2021). ZARA: The Driving Force in Fashion. [online]

www.fibre2fashion.com. Available at: https://www.fibre2fashion.com/industry-
article/132/zara-the-driving-force-in-fashion.

Goworek, H. and Mcgoldrick, P.J. (2015). Retail marketing management : principles

and practice. Harlow: Pearson Education Limited.

Ha, J. (2021). Zara Strategic Analysis. [online] Available at:

https://digitalcommons.unl.edu/cgi/viewcontent.cgi?
article=1368&context=honorstheses.

Hampton, C. and Stratopoulos, T.C. (2015). Financial Reports Based Proxies for
Bargaining Power of Buyers and Sellers. [online] papers.ssrn.com. Available at:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2650793 [Accessed 10 Nov.
2022].

Hugos, M. (2020). Zara Clothing Company Supply Chain. [online] SCM Globe.
Available at: https://www.scmglobe.com/zara-clothing-company-supply-chain/.

Inditex (2014). Inditex Annual Report 2014. [online] Available at:

https://www.annualreports.com/HostedData/AnnualReportArchive/i/inditex_2014.pdf
[Accessed 19 Dec. 2022].

Jarillo, J.Carlos. (1989). Entrepreneurship and growth: the strategic use of external
resources. Journal of Business Venturing, 4(2), pp.133–147. doi:10.1016/0883-
9026(89)90027-x.
Jasuja, G.D. (2012). Textiles and Clothing : A Low Tech Sector? [online] New Cloth
Market. Available at: https://www.newclothmarketonline.com/editorials/textiles-and-
clothing-a-low-tech-sector/ [Accessed 19 Dec. 2022].

Kato, V. (2018). (PDF) Analysis of the Keys to Zara’s (Inditex) Successful Business
Model. [online] ResearchGate. Available at:
https://www.researchgate.net/publication/332216487_Analysis_of_the_Keys_to_Zara
.

Kotler, P. (2010). Principles of marketing : my marketing lab + pearson etext student

access. Prentice Hall.

Levine, S.R. (2013). How Zara Took Customer Focus to New Heights. [online] Stuart
Levine & Associates. Available at: https://stuartlevine.com/articlesbystuart/how-zara-
took-customer-focus-to-new-heights/.

Levitt, D.M. (2019). Zara’s Parent Buys Fifth Avenue Site in Record Retail Deal.
[online] Bloomberg.com. Available at:
https://www.bloomberg.com/news/articles/2011-03-04/zara-parent-inditex-pays-324-
million-for-fifth-avenue-store-in-manhattan.

Mafalda, A. and Morgado Costa, R. (2017). ZARA’S CASE STUDY The Strategy of
the Fast Fashion Pioneer. [online] Available at:
https://repositorio.iscte-iul.pt/bitstream/10071/15686/4/master_ana_morgado_costa.p
df.

Mainela, T. (2012). From internal resources to collective opportunities. Journal of

Business Research, 65(2), pp.230–231. doi:10.1016/j.jbusres.2011.03.017.

Michaux, S., Cadiat, A.-C. and Probert, C. (2016). Porter’s Five Forces. Namur
50Minutes.com.

Mozzhukhina, A. (2015). How Zara uses supply chain to execute business model.
[online] Technology and Operations Management. Available at:
https://d3.harvard.edu/platform-rctom/submission/how-zara-uses-supply-chain-to-
execute-business-model/.
Palmer, M., Alexander, N. and Doherty, A.M. (2010). Review of International
retailing. Journal of Economic Geography, [online] 10(2), pp.321–323. Available at:
https://www.jstor.org/stable/26161400 [Accessed 19 Dec. 2022].

Parrish, E.D. (2016). A Profile of the Textile Manufacturing Industry. Business Expert
Press.

Pons, C. (2022). Inditex profit jumps as Zara owner lifts prices. Reuters. [online] 14
Dec. Available at: https://www.reuters.com/business/retail-consumer/inditex-9-
month-profit-jumps-increases-fashion-prices-2022-12-14/.

Porter, M.E. (1998). Competitive Strategy: Techniques for Analyzing Industries and
Competitors. New York: Free Press.

Rajmanthri, S. (2005). Effects of Corporate Social Responsibility (CSR) on

organizational sustainability: A case study of the Sri Lankan Corporate Sector. Social
Responsibility Journal, 1(3/4), pp.149–152. doi:10.1108/eb045805.

Singh, J. (2018). PORTER 5 FORCES FOR PREMIUM CLOTHING INDUSTRY.

[online] www.linkedin.com. Available at: https://www.linkedin.com/pulse/porter-5-
forces-premium-clothing-industry-jaskirat-singh.

StudyMoose (2017). Zara Company Vertical Integrated Supply Chain Free Essay
Example. [online] StudyMoose. Available at: https://studymoose.com/zara-company-
vertical-integrated-supply-chain-essay.

Tokatli, N. (2008). Global sourcing: insights from the global clothing industry—the
case of Zara, a fast fashion retailer. Journal of Economic Geography, [online] 8(1),
pp.21–38. Available at: https://www.jstor.org/stable/26161238.

Tsoukas, H. and Chia, R. (2002). On Organizational Becoming: Rethinking

Organizational Change. Organization Science, [online] 13(5), pp.567–582. Available
at: https://www.jstor.org/stable/3086078?seq=1&cid=pdf-
reference#page_scan_tab_contents.

Vaněk, M. (2020). Evaluation methods of swot analysis. GeoScience Engineering,

58(2), pp.23–31.
Varga, M. (2010). Analyzing the Austrian fashion industry according to Porter ś five
forces. GRIN Verlag.

Vogel, D. and Kagan, R. (2002). Dynamics of Regulatory Change: How Globalization

Affects National Regulatory Policies Dynamics of Regulatory Change: How
Globalization Affects National Regulatory Policies An Introduction. [online]
Available at:
https://escholarship.org/content/qt4qf1c74d/qt4qf1c74d_noSplash_59737371be279cd
dab5439491ccfd3da.pdf?t=lbzh8d.

Waldow, J. (2022). Fast-fashion leaders like H&M and Zara face increased
competition. [online] Modern Retail. Available at:
https://www.modernretail.co/operations/fast-fashion-leaders-like-hm-and-zara-face-
increased-competition/.

Worthington, I. and Britton, C. (2009). The Business Environment. [online] Google

Books. FT Prentice Hall. Available at:
https://books.google.com.pk/books/about/The_Business_Environment.html?
id=09uqSNHNT9EC&redir_esc=y.

Ziv, Y. (2010). How the Fashion Industry Is Using Digital Tools to Increase ROI.
[online] State of Lux. Available at: https://stateoflux.wordpress.com/2010/10/22/how-
the-fashion-industry-is-using-digital-tools-to-increase-roi/ [Accessed 19 Dec. 2022].