Why policies are essential for strategy implementation

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Reference no: EM133220654

Strategic Management Assignment Question - FashionValet, a homegrown ecommerce platform in Malaysia, recently caused a stir with the announcement that it will be shutting down. The statement on its website read: "As they say, all good things must come to an end... and be replaced with something better.""With that, we are thrilled to share with you - a brand new shopping experience. Where you will be inspired and get rewarded - all personalized for you."This has sparked a huge discussion on social media. Users were wondering why FashionValet decided to close and what now happens to the local fashion brands operating on the platform. A visit to the FashionValet website will now prompt shoppers to instead check out the Duck and Lilit online stores. Duck sells scarves and other accessories, while Lilit focuses on modestwear.

The company, in implementing their new strategy is seeking for your consultation on the need for clear policies. Provide FIVE (5) reasons why policies are essential for strategy implementation with relevant examples.

Reference no: EM133220654

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