Okonkwo Prelims

(b) The customer perspective, which emphasizes the importance of adopting
a customer focus and constant customer profile analysis.
(c) The business process perspective, which places emphasis on the efficient
running of the internal business process and the development of appro-
priate metrics for competence.
(d) The learning and growth perspective indicates the importance of
employee training and development as well as staff empowerment and
the development of a favourable working culture.

The 7-S frameworkis a model developed by Value Based Management that
describes how an organization can effectively manage a change process. It
recognizes seven inter-connected factors that often lead to an efficient strate-
gic change process. The factors are the following:

(a) Structure
(b) Systems
(c) Style
(d) Staff
(e) Strategy
(f) Skills
(g) Shared Values

The brand asset evaluator developed by advertising firm, Young &
Rubicam is a performance measurement indicator that can be used to gauge
brand value through the application of four broad factors; Differentiation,
Relevance, Esteem and Knowledge. Since the brand value is a key aspect of
the luxury industry, a constant check of the brand vitality and stature through
this model is essential.

Connecting loops

The business strategy model provides a clear picture of a luxury brand’s
complete business direction. This includes an analysis of the internal and
external environmental factors as well as strategic challenges and alternative
proposals and their implementation tactics. The features highlighted in the

chapter 9 275

the luxury fashion business strategy model

Level 5: performance measurement indicators

Performance

measures Balancedscorecard

Brand

asset

evaluator

7-S

framework

Figure 9.6 The performance measurement level of the luxury fashion
business model