The Successful Business Plan for Ann Taylor

ANN TAYLOR should extend their brand to the cosmetics line as well so that they can secure their name as the complete brand for women offering from shoes, jewelry, casual dresses, and formal event dresses as well, this will give them a complete edge over the other competitors and secure a niche for them. The main objective of the introduction of the new line is to add value to the existing brand. The mission of the business is to provide any women belonging to any class to dress in a fashionable and pleasing way and be able to accessorize their personalities with the best possible dresses, jewelry, footwear and now makeup. The vision of the business is to be the world leader for women all over the world and to be the fashion leaders. As far as the stakeholders of the project are concerned, the major stakeholders include the management, employees and customers of the organization. For instance, management is highly concerned about the effectiveness of the project because it has incurred a huge fund for its success. The employees are the primary target as their skills would be improved from the entire training process and customers concern can be addressed in the sense that they would get a better delivery of products and services once the employee’s skill is improved. The development of the employees should be done at two levels. Two of the departments are responsible for this together. In the first place, it is the responsibility of the department’s manager for the employees to make sure that the employees working under him are motivated and are giving their performance as is required by the company.The departmental head is responsible to make sure that the development of his employees is not neglected and takes place duly. The easiest way to find the gap in the requirements by the company and the kind of work that is delivered by his staff is constant research within his department. When the manger is designing the strategy that is required for the department, the core competencies for the department should be defined as per the requirement, also the skills that are required to be possessed by the employees to reach the goal task of the department. The skills and competency of the team should also be analysed on a constant basis. It is the duty of the manager to relay any kind of gaps that he discovers after the analyzing of the skills and the competencies to the Human resource department of the company and inquire if there are any kind of related training available, and be able to convince them that this sort of training can help the organization achieve better and improved results. It is necessary that the training requirements of the department are clearly identified and relayed with the exact gaps that exist so that adequate training is provided to the employees to fulfill that gap. It is a very common practice that departmental heads do consider finding and defining gaps as their own personal duties, they consider it as the duty of the Human Resource department. They consider that the HR department of their firm should identify and provide the training.