Strategies at burberry

2011
Strategic Development at Burberry

LONDON SCHOOL OF BUSINESS
& FINANCE


Student Name: Madhumalesh Prakash

Student ID: A4036664

Submission Date: 4th November, 2011

Intake: MBA Batch 8A

Module Name: Strategic Planning

Module Code: SP

Assignment Title: Longitudinal Strategic Development Study

Word Count: 4044

A4036664 Madhumalesh Prakash
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Table of Contents
1. Recent past to the present: ............................................................................................................ 3
1.1. Introduction ............................................................................................................................ 3
1.2. Business................................................................................................................................... 3
1.3. Leadership and culture at Burberry ........................................................................................ 4
1.4. Strategies deployed ................................................................................................................ 4
2. The Strategic Position ..................................................................................................................... 6
2.1. Macro-Environment ................................................................................................................ 6
2.2. Industry and market structure and competitive conditions ................................................... 7
2.3. Strategic capability, Resources and Competences ................................................................. 8
2.3.1. Strategic capability .......................................................................................................... 9
2.3.2. Resources ........................................................................................................................ 9
2.3.3. Competences .................................................................................................................. 9
2.4. Financial situation of Burberry................................................................................................ 9
3. Strategic choice ............................................................................................................................. 10
3.1. Business level strategic choice .............................................................................................. 11
3.2. Corporate level strategic choice ............................................................................................... 11
3.3. Direction and methods ............................................................................................................. 11
3.4. Recommendations .................................................................................................................... 13
4. Conclusion ..................................................................................................................................... 14
5. Appendix ....................................................................................................................................... 14
6. References .................................................................................................................................... 15

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1. Recent past to the present:

1.1. Introduction
Burberry, one of the famous designer brands in the world was started by a 21-
year old draper‟s apprentice, Thomas Burberry. This all started with a small
outfitter‟s shop in Basingstoke, Hampshire, England (The Telegraph 2011).

Burberry gained popularity during the First World War when it won the contract
to supply trench coats to the British army. Later on, Burberry was also worn by
Humphrey Bogart in Casablanca, Audrey Hepburn in Breakfast at Tiffany‟s and
Peter Sellers in the Pink Panther.

Burberry‟s main mission was to sell Britishness to the world (Friedman 2011).

1.2. Business
Burberry markets its products to its end consumers through three channels:
Retail, wholesale and licensing. Burberry sources and markets its apparel and
accessories worldwide with major markets in Spain, America and Asia Specific
which accounts to 90% its revenue and emerging markets like China, India,
Russia, East Europe and the Middle East (Annual Review 2010).

The first product developed in 1880, which was responsible for Burberry‟s
success was Gabardine Macs- A breathable and waterproof fabric used for
making of trenchcoats. In 1985, Burberry develops „Tielocken‟, the predecessor
of trench coat which was worn by army officials in Boer War. In 1914, in demand
from War office Burberry introduced epaulettes and D rings to its products. In
1920, Burberry check was registered as a trademark, and is introduced as lining
for trenchcoats (The Telegraph 2011). Later on, Burberry brand name began to
appear on children‟s clothes, personal products, watches, fragrances, bikinis,
shoes and home wares.

Burberry was bought by Great Universal stores in 1955. The brands popularity
from 1940s to the 1960s had waned by the 1980s. Distribution was focused in
small shops and few high market shops like Harrods. And shops like Neimen
Marcus, Barney‟s and Saks in USA sold only Burberry raincoats, not the other
high profit margin accessories. In 2002, Great Universal store floated one third
of Burberry, on stock market, raising £275 million and by 2005 Burberry was set
independent (Marketing 2002).

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1.3. Leadership and culture at Burberry
Atkinson explains organisational culture as reflecting and underlying
assumptions about the way work is performed; what is acceptable and not
acceptable and what behaviour actions are encouraged and not encouraged
(Mullins 2005). Burberry‟s culture is defined by core values like: to protect,
explore and inspire, Democratic and meritocratic ethos, collaboration and
connectedness, contributing to its communities through Burberry foundation.

According to Drucker, leadership is the most important factor which determines
whether a group or organisation will be successful (Rollinson 2008). Due to
Asian crisis in Mid 1990s, Burberry started experiencing profit fall. It reported a
£37 million drop in profits to £24.7 million in 1997, which prompted managerial
rethinking and appointment of Rose Marie Bravo as new chief executive. She
was responsible in transforming Burberry into £2 billion ultra-fashionable global
brand. Her transformation of Burberry had become a text book example of how
to transform a business that other luxury brands are sometimes said to be
“doing a Burberry” (Financial Times 2004). In 2005 Angela Ahrendts, replaced
Bravo as Chief Executive who made changes to Burberry product line by making
checks more stable and by focusing more on higher-margin products like
handbags and perfumes (Friedman 2011).

1.4. Strategies deployed
Alfred Chandler(1963) defines strategy as „ the determination of the long-run
goals and objectives of an enterprise and the adoption of courses of action of an
enterprise and the adoption of courses of action and the allocation of resources
necessary for carrying out these goals’. And Michael porter(1996) sees it as
„Competitive strategy is about being different. It means deliberately choosing
different set of activities to deliver a unique mix of value’.

Developing or making a strategy for a management is very complex in nature. It
needs to be made in the uncertainty situations and may also affect the
operational decisions. New strategy developed may also involve the change in
present culture of an organisation which is difficult and may adversely affect the
performance of the organisation. Strategies usually exist at a number of levels in
an organisation. Let‟s distinguish different levels of strategies and analyse it
using Burberry‟s strategies. The strategic themes of Burberry are: Leveraging
the franchise, Intensifying non-apparel development, Accelerating retail-led
growth, Investing in under-penetrated markets, Pursuing operational excellence.
Product and excellence underpin this brand momentum (Burberry.com).

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 Corporate level strategy: This is concerned with the overall purpose and
scope of an organisation and how value can be created or added to
different parts of the business (Jhonson et al 2006). This includes
decisions of geographical coverage, mergers and acquisitions, and how
resources are allocated to different parts of an organisation. In contrast
with Burberry, Bravo adopted the strategy of International expansion to
bring success in Burberry. New stores were opened including flagship
stores in London, New York and Barcelona. Besides USA and Spain, Bravo
also targeted Japan since it was an enormous market for company
already. The results were profits soaring to £162 million by 2005, a six
times increase since she took over (Jobber 2010). In regime of Ahrendts,
Burberry opened stores in emerging markets such as India, China, Russia
and Middle East. In 2010, the company acquires 50 stores across 30
cities, which was owned by its Hongs Kong based franchisee. The
company continues to expand in emerging markets like India, Sao Paulo
and Dubai either by opening new stores or establishment of regional
offices. And recently, through franchise partners Burberry opened new
stores in Armenia, Egypt, Israel and Mongolia (Burberry.com).

 Business level strategy: This is about how to compete successfully in
particular markets. This level of strategy deals with which products should
be developed in which market and how to gain advantage over the
competitors (Johnson et al 2006). Burberry having a single product line of
fashion it has to concentrate more on this level strategy. Strategies like
leveraging the franchise, intensifying non apparel development and
accelerating retail-led growth can be seen as business level strategies.
Ahrendts‟s digital strategy made Burberry the first luxury brand to live-
stream a fashion show in 3D, to allow the customers to order products
directly from the catwalk. She introduced social networking site to deepen
the relation between customers and attract new devotees. Ahrendts, in a
video interview claims that word-0f-mouthspreads through social
networking and continues to be a positive conversation and its very
powerful (Edgar 2009). As a result of all these Burberry overcame the
recession and reported a profit of more than £5 billion in 2009.

 Organisational strategies: This level is concerned with how different parts
of organisations deliver effective corporate and business level strategies
by proper allocation of resources, people and processes (Johnson et al
2006). Pursuing operational excellence can be seen as organisational
strategy. This level includes steps like introducing new IT systems like
SAP, where a single SAP HR database can hold information of 6500
employees in 25 countries and replacing 21 scattered distribution centres
with three regional hubs in the USA (Jobber 2010).

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2. The Strategic Position

This part of the report is concerned with the impact of external environment,
Organisation‟s resources, capabilities and core competences on the strategy of
an organisation. According to John Kay, “The subject of the strategy analyses
the firm’s relationship with its environment, and a business-strategy is a scheme
for handling these relationships” (Dransfield 2001).

2.1. Macro-Environment
Organisation needs to be in tune with the environment. Therefore there is a
need of market scanning to make appropriate strategic responses, which can be
done by Pestle analysis. Pestle analysis looks at political, economic, social,
technology, legal and environmental factors which affect the organisation
(Dransfield 2001).
 Political: Political factors include Government stability, taxation policy,
foreign trade regulation and social welfare policies. Burberry needs to
consider the trade regulations and taxation policy when sourcing or
marketing products to parts outside Europe. Burberry, sources 60% of its
raw materials from Europe, which makes the group strongly unaffected by
Chinese imports impacts of Yuan/dollar de-pegging (Zekaria 2010).
 Economic: This may contains factors like Inflation, unemployment,
interest rates and money supply. Economic deceleration, in UK, began in
2008 when GDP contracted by 0.1% and the economy contracted by 4.9%
by 2009 because of the slowdown in the global economy. Though the
economy recovered in 2010, this slowdown has adversely affected the
creation of jobs in the country. Nearly 2.5 million were unemployed in
2010 (UK Country profile 2011). Burberry needs to monitor the inflation
rates as it may directly effect on the buying capacity. For example, when
recession hit UK, stocks stumbled to £1.60, and pressurised Ahrendts to
cut costs by £50m and staff by about 10 percent (Friedman 2011).
 Socio cultural: Factors like population demographics, income distribution,
lifestyle, consumerism and social mobility comes under Socio-cultural
factors. The brand is defined by: Britishness, Democratic luxury
positioning, Authentic outwear heritage and historic icons, which makes it
so popular among the people. As we saw before investing in under-
penetrated markets is one of the strategies of Burberry. So, it has to
explore the socio-cultural factors of the emerging markets. As said by
Christopher Bailey about India, “it‟s a country we are so excited by. They
have huge appreciation for luxury and Britishness”. This implicates that

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Indians have appreciation towards British lifestyle, which brings success to
Burberry in India.
 Technological: This includes factors like new discoveries/developments,
speed of technology transfer and rates of obsolescence. As we saw before
Burberry was the first luxury brand to live stream a fashion show in 3D,
where consumers could buy products directly from the catwalk. And
introduction of social networking sites and websites like
artofthetrench.com where customers like customize their products are few
examples of the technologic usage in Burberry.
 Environmental: Any organisation should consider these factors like
environmental protection laws, waste disposal and energy consumption.
Burberry renewed focus on diverting waste from landfill. Burberry‟s
recycling partner has converted over 130 tonnes of samples and raw
material waste into car door insulation (Burberry.com).
 Legal: Legal laws like competition law, employment law and product
safety should be considered by an organisation to develop or protect the
strategy. Burberry faced a problem of copycats, which infringed its
trademark. Burberry claimed to spend £2 million a year to fight these
counterfeits. It uses an Internet-monitoring service to help pick up the
discussion and it also works with custom officials and local police to seize
and sue fakes (Jobber 2010).

2.2. Industry and market structure and competitive conditions
The industry structure defines the levels and roles in an organisation. There are
number of discrete structural forms like: entrepreneur, functional, divisional,
holding company and matrix structures. According to Roy Watts, Chairman,
Thames Water, “Autonomy is what you take, not what you are given”
(Thompson 1997). Burberry‟s industry structure can be seen as entrepreneurial
structure or functional structure. Entrepreneurial structure as the organisation is
organised wholly around the chief executive, Ahrendts. Functional structure, like
all the functions such as production, finance, marketing and HR is controlled by
chief executive. And, Christopher Bailey as creative head responsible for the
production. Advantages of these structures are: they are centralised, relatively
less overheads and simple lines of control (Thompson 1997).

As we saw before, Burberry sells its products to its end customers through retail,
wholesale to different parts of the world. Let us see the revenue from different
markets and different channels (Burberry.com):
 Americas: constitutes to 27% of the total revenue which includes business
in US, Canada, Central and South America.
 Europe: this includes the operation in Europe excluding the Spanish
operation and accounts for 34% of total revenue.

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 Asia-Pacific: including operations in China and Japan this market is
growing rapidly constituting for 33% of the revenue for Burberry.
 Rest of world: this includes operations in India and Middle East which
constitutes for 6% for its total revenue.
 Retail: This channel accounted for 64% of its total revenue including 174
stores, 199 concessions with departmental stores and 44 outlets, as well
as digital commerce across the world.
 Wholesale: 29% of revenue for Burberry comes from this channel. This
includes sales to departmental stores and its franchises mainly in
emerging markets.
 Licensing: Remaining 7 % of revenue comes from licensing, including
royalty income received from licenses in Japan, its global licenses for
fragrance, eyewear and timepieces, and a small European childrenswear
license.

Competitive conditions can be analysed by porter‟s five forces framework which
helps in identifying the sources of competition (Johnson et al 2006).
 The threat of substitutes
There are lot of luxury brands which have established their names in the fashion
industry.
 The threat of new entrants
Fashion industry is ever growing and there may be threat of new and cheaper
brands entering the market.
 The power of suppliers
Need to have good relation with the raw material suppliers and need to have
many suppliers. Relying on one supplier may be a risk if supplier fails to deliver
at time.
 The power of buyers
The inflation or economic downturn affects the buying power of the customers.
More customers are likely to become price sensitive.
 Competitive rivalry
There is danger of intense competition from the rivalries like Mulberry and Gucci
as one they attempt to gain competition over other.

2.3. Strategic capability, Resources and Competences
The resource-based view of strategy: The competitive advantage of an
organisation is explained by an organisation is explained by the
distinctiveness of its capabilities.

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2.3.1. Strategic capability

The ability to perform at the level required to survive and prosper. It is
underpinned by the resources and competences of the organisation (Johnson et
al 2006). Its well reputed brand name, britishness, democratic luxury positioning
and its appeal to customers make it able to survive and prosper rapidly.
Burberry‟s capability can be measured by facts like; Kate Middleton wore a
Burberry trenchcoat during her coming out phase of Princess-to-be (Friedman
2011).

2.3.2. Resources

Resources can be of two types- tangible and intangible resources. Tangible
assets consists of physical assets of an organisation such as plant, labour and
finance, whereas, non-physical assets such as information, reputation and
knowledge forms the intangible assets of an organisation (Johnson et al 2006).
Burberry has a list of rich intangible resources from its 154 years past history.
At present Burberry is one of the leading British luxury brands. Going to the
history, Burberry was awarded Royal warrant two times in 1955 by Queen
Elizabeth and Prince of Wales in 1989. And Burberry won many awards for its
design and innovation like 2010 British Fashion awards (Friedman 2010) which
builds up their reputation.

2.3.3. Competences

These are the activities and processes through which an organisation deploys its
resources effectively (Johnson et al 2006). Burberry‟s new and core competence
is the digital innovation. This is driven by the desire to “connect customers
directly to the brand”. It can be either the live-stream of fashion show in 3D or
the artoftrech.com website where customers can customize their own design.
Other competence was to endorse the brand through advertisements featuring
celebrities such as Beckhams, Elizabeth Jagger and Nicole Appleton.

2.4. Financial situation of Burberry
In this section let us see the current financial situation, as a result of strategies
deployed as discussed before. This is done by few ratios derived from the
balance sheet and income statement of the company. Ratios are used for
measurement of the organisation‟s performance, comparison of one year with
another for detecting improving or deteriorating trends, for forecasting cash

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flows and efficiency of resource usage. Let us briefly see some key ratios which
explain the present financial situation of Burberry.

Table1: Ratios calculated. (See Appendix)
 ROE: This measures the return from profit after interest and tax have
been deducted to shareholders capital. As calculated it is 28.2%, which
means for every £100 investment you will get back £28.2 which is very
good.
 Gross profit: This measures the profit after direct unit costs as %sales. As
seen in the above table gross profit for 2011 is 67% which is a good sign
for Burberry and its shareholders.
 Current ratio: This measures the cash position of an organisation. If the
ratio is more than one, it means company can pay its liabilities from its
assets. Current ratio of Burberry is 1.63 which means they can not only
clear the liabilities, they can even invest for new diversifications.

Some other ratios like ROCE, ROS and Gross gearing ratios can also be
calculated for determination of a company‟s situation.

3. Strategic choice

Strategic choice involves understanding the underlying bases for future strategy
at both the business and corporate level and the options for developing strategy
in terms of both the directions and methods of development (Johnson et al
2006).

The variables for determining strategic choice are: Economic or technological
sector choices, value network position choices, product/market sector choices,
resource and capability choices, generic strategies and development routes.

A4036664 Page Madhumalesh Prakash
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3.1. Business level strategic choice
As discussed before this strategy is about how business units compete
successfully in markets to meet the needs of their customers. This is considered
by examining the generic choices of the bases of competitive strategies know as
the „strategy clock‟ (Johnson et al 2006). The options in the strategy clock are:
no frills, low price, hybrid, differentiation, focused differentiation, increased
price/standard value, increased price/low value, low value/standard price.
Precisely, these options can also be seen as:
 Price based strategies- seeks to achieve lower price than competitors with
same quality of products,
 Differentiation strategies- seeks to provide products different from those
of competitors and that are widely valued by buyers,
 Hybrid strategy- seeks to achieve both price and differentiation strategy,
 Focused differentiation strategy-seeks to provide high perceived product,
justifying a substantial price premium, failure strategy- does not provide
value for money nor perceived products.

3.2. Corporate level strategic choice
In this level, developing strategy for future comes with an option of
diversification. It is a strategy that takes an organisation into both new markets
and new products. Diversification can be of two types
 Related diversification- involves in strategy development beyond the
current products and market but within the capabilities and values of an
organisation. Related diversification takes different forms like: Vertical
integration- is forward or backwards integration into adjacent activities in
value network, horizontal integration- is development into activities which
are complimentary to value network.
 Unrelated diversification-means strategy development beyond current
capabilities and value of the organisation.

3.3. Direction and methods
For better understanding of development of strategic options for growth can be
analysed by Igor Ansoff‟s matrix of strategic options (Johnson et al 2006). This
matrix compares the alternative of developing new products and markets.

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Fig 1. Ansoff‟s matrix

 Market penetration- This involves in selling of same products to same
customers or market segment using excellent marketing skills or by
increasing the market share or by developing competitive advantage or by
growing the total market size.
 Product development- This option involves in developing new products for
the existing customers in order to satisfy their changing lifestyle.
 Market development- This involves in creation of new customers which is
more difficult than creating new products. But for brand like Burberry with
global approach it is not difficult to create a new market.
 Diversification-This involves in developing both in terms of product and
markets. This is often done through acquisitions, because of the difficulty
of developing both new products and market.

The above section showed the direction for the development and now let us sees
the available methods for this development and their advantages and
disadvantages in brief. The methods include:
 Organic or internal development- where strategies are developed by
developing organisation‟s own capabilities. These have advantages of
enhancing knowledge and learning and no need of searching suitable
conditions available for mergers or acquisitions.
 Mergers and acquisition- strategies are developed by taking over
ownership of another organisation.
 Equity Alliance- two or more organisations share resources to develop a
strategy. These have advantages of financial risk which is shared with
partners and combination of resources which may helps in development of
unique product. This method also has difficulties in identifying the
appropriate partner and maintaining proper relationship with the partners.

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 Franchise- a contractual relationship with some businesses operating
under the organisation name and guidance with an exchange of fee. This
is a form of non-equity alliance.
 Licensing- permission to engage in certain activity by authority of an
organisation. This is also a form of non equity alliance.

According to Claudio Aspesi and Dev Vardhan, “The best strategy for any
company is a strategy it can implement. Before you choose one, think about
what your company already does well” (Dransfield 2001).Having the strategic
options, direction and methods it‟s necessary and important to analyse the
success criteria of the planned options. There are three main success criteria:
Suitability: These concerns whether the strategies planned fit the situation. Tools
such as Pestle analysis give a clear picture about the relationship between the
internal organisation and external environment. And, it needs to look at whether
that strategic option provides a suitable use of resources in given environment.
Accessibility: This is concerned with whether that strategy is acceptable by the
organisation and its stakeholders. These depend on three main types: return,
risk and shareholders reaction.
Feasibility: this is about whether the strategy planned can be implemented in
real practise. These criteria can be accessed by analysing the organisation‟s
strategic capabilities.

3.4. Recommendations
Having studied all the options, directions and methods of strategy development
let us recommend and discuss some strategic choice for Burberry.

In business level, Burberry cannot adopt price-based strategy because of
disadvantages like margin reduction and inability to reinvest. And, Burberry has
developed its brand name as a Royal luxury brand which will be affected if it
follows price-based strategy and will lose high class customers. Burberry can
adopt focus differentiation by providing high perceived goods with superior
quality and new designs, which justifies the premium price. Market penetration
and product development discussed in Ansoff matrix comes under this level.
Market penetration can be done by increasing the market share or by developing
competitive advantage or by growing the total market size. This can be done
organic method of development by increasing the number of retail shops in the
existing markets. Product development can be done by appointing new young
designers and adding value to the new products by famous celebrity
endorsements. Product development can be done by organic method or licensing
for new accessories.

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In corporate level, as we saw before strategic choice is diversification. The two
strategic directions: market development and diversification in Ansoff matrix
comes under this level. The vertical integration can be done by acquisition of the
textile industries supplying raw materials or by acquisition of rival companies like
Gucci. The acquisition again should be done after analysing the criteria seen
before. Methods of Joint venture/ Alliance can be used for horizontal integration
by contractual relationship with high end sports car brand for the production of
its merchandises. For example, Puma produces clothing and other merchandise
like bags, wallets for Ferrari and Ducati.

4. Conclusion

Burberry, a must-have fashion brand in Britain started in 1856 produced coats
for army officials. In just few years it lost its old cultural status and developed
new cutting-edge trends to become a modern luxury brand. With a key strategy
of brand extension and it‟s very British image it soon became popular in US and
Asian markets. As we saw in the report, the leadership skills of Bravo and
Ahrendts played an important role in developing and execution of strategies for
the development of its unique resources and core competences. Burberry‟s
adoption of related diversification had led to its success. It operates in only one
value network of fashion which makes it to concentrate more on it and grow
radically through franchises and licensing. The studies also shows the strategy
should be adopted in proper times by a lot of analysis like PESTLE and the
success criteria needs to be analysed before executing any strategy. It is also
seen that strategies deployed by Burberry have resulted in good financial
situation. In simple words, “All is well in Burberry” because of its past and
present strategies.

5. Appendix

Return on Equity(ROE) = (Net profit after tax/ Shareholder‟s Equity)*100
ROE of Burberry: (212.5/733.3)*100 = 28.2%
Current ratio = Current assets / Current liabilities
Current ratio of Burberry: 870.1/534.3 = 1.63
Gross profit margin = Gross profit/ Sales revenue
Gross profit margin of Burberry: 1009.7/1501.3 = 67%

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6. References

Annual Report (2011). Burberry: Annual report 2011, [online]. Available at:
http://201011.annualreport.burberry.com/ (Accessed on 1/11/2011)

Annual Review (2010). Burberry: Annual review 2009-2010, [online]. Available
at : http://annualreview2009-
10.burberry.com/pdf/burberry_group_overview.pdf (Accessed on 1/11/2011)

BBC news (2002). Business: Burberry‟s journey through fashion, [online].
Available at: http://news.bbc.co.uk/1/hi/business/2015039.stm (Accessed on
1/11/2011)

Chandler, A.D. (1963). “Strategy and Structure: Chapters in the History of
American Enterprise”, MIT Press, 1963, p 13.

Porter, M.E. (1996). “What is Strategy?”, Harvard Business Review, 1996,
November-December, p 60.

Dransfield, R. (2001). Scanning the environment: Corporate strategy.
Heinemann Educational: Oxford.

Edgar, R. (2009). Burberry targets the Facebook generation with social network,
Financial times, [online]. Available at: http://www.ft.com/cms/s/0/e7de1d54-
a321-11de-ba74-00144feabdc0.html#axzz1c55heSJw (Accessed on 1/11/2011)

Financial times (2004). Rose Marie Bravo Chief Executive, Burberry, [online].
Available at: http://www.ft.com/cms/s/0/831be07c-1348-11d9-b869-
00000e2511c8.html#axzz1c55heSJw (Accessed on 1/11/2011)

Friedman, V. (2011). Woman in the new: Angela Ahrendts, Financial Times,
[online]. Available at: http://cachef.ft.com/cms/s/0/e2f598ea-6d13-11e0-83fe-
00144feab49a.html#axzz1c9fL22j7 (Accessed on 1/11/2011)

Johnson, G., Scholes, K. and Whittington, R. (2006). “The Environment”,
Exploring Corporate Strategy, 7th edition. Prentice Hall: United Kingdom.

Marketing (2002). Great British brands: Burberry- Fashionable from the 1920s,
Burberry declined with deferential society but is new born, [online]. Available at:
http://www.marketingmagazine.co.uk/news/154758/ (Accessed on 1/11/2011)

Mullins, L.J. (2005). Organisational development: Management and
organisational behaviour, 7th edition.

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Rollinson, D. (2008). Attitudes and emotions: Organisational behaviour and
analysis-An Integrated approach, 4th edition. Pearson education: United
Kingdom.

The telegraph (2011). Burberry: a history, [online]. Available at:
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8455689/
Burberry-a-history.html (Accessed on 1/11/2011)

Thompson, J.L. (1997). Strategic Management: Awareness and Change, 3rd
edition. Thompson Business press: United Kingdom.

UK country profile (2011). The UK: In depth PESTLE insights. (Cover story), p1-
81.

Zekaria, S. (2010). “Burberry has Reasons to be Bullish”, The Wall Street
Journal,[online]. Available at: http://blogs.wsj.com/source/2010/07/13/why-
burberry-has-reasons-to-be-bullish/ (Accessed on 1/11/2011)

Figure 1: Ansoff‟s Matrix, Available at: http://www.paramountlearning.co.uk/wp-
content/uploads/2010/02/ansoff-matrix.jpg (Accessed on 1/11/2011)

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