CHRISTIAN DIOR BUSM2567 ASSESSMENT 3 - DIGITAL RESEARCH REPORT SOFIA RAPOTA

Background information

Christian Dior, a French luxury goods producer, is primarily engaged in the creation, production and distribution of high-end fashion apparel, fragrances, cosmetics, accessories and skincare products. Mostly renowned for its haute couture, Dior produces ready-to-wear collections hand crafted by creative directors. The company also specifies in producing a wide range of accessories, including handbags, shoes, jewelry and other collections which are designed to complement their clothing lines. Fragrances are also widely produced by Dior, sold worldwide to millions of customers yearly. The business focuses on marketing itself as a prestigious brand, with a wide global presence in multiple markets (Brand 2024). Dior operates within the luxury goods industry, which distributes high-end fashion, fragrances, accessories and cosmetics to customers worldwide. This industry caters to the aspirations and desires of consumers seeking products that illustrate elegance, status and exclusivity (Brand 2024).

The company is currently under pressure from its two largest competitors, Chanel and Kering. Chanel is renowned for its timeless fashion designs, fragrances and accessories, similarly to Christian Dior, posing a large threat. Further operating within the same sphere of luxury fashion and sharing a similar target demographic (Waang 2022). Whereas Kering, another luxury brand puts financial pressure on Dior as they hold a large market share within the luxury goods market. Owning major successful brands like Gucci, Bottega Veneta, Saint Laurent and Balenciaga. Further competing with Dior over market share and sales within various sectors of the luxury fashion market (Team 2024).

Their business has expanded globally, with a growing presence in major fashion capitals and key marketing within the world. Operating flagship in large fashion hubs within London, Paris, New York City, Tokyo and Hong Kong. These flagship stores showcase the brand's latest collections, offering luxurious and exclusive shopping experiences to customers (Dior 2024). Explicitly Christian Dior has not outlined their exact short and long term strategies. However, based on their public statements, historical actions and industry trends they have targeted on regularly releasing seasonal collections and marketing campaigns as short term strategies, and Global expansion and sustainability initiatives as long-term strategies (buildd 2024).

Diversity, Equity, and Inclusion policies

Christian Dior have made their diversity, equity, and inclusion (DEI) policy crucial to ensure an inclusive and respectful workplace environment. Among their DEI policy, LVMH has aimed to achieve their goal of ‘50% Women in Group Key Positions and Pay Equity‘ by 2025 (Birch 2024). As much as this goal promotes diversity and inclusion within the workforce, the group has recognised that ‘diversity alone is not enough to create an inclusive corporate culture’(Birch 2024). These statements have been supported through the group's initiatives, like Dior open day, which holds regular ‘open days’ to support diverse backgrounds in job searching. Another initiative being the Travel with Pride with Belmond, where in 2022 a travel experience on the British Pullman train took guests to Brighton's 30th anniversary Pride festival to support and celebrate the LGBTIQA+ community (Birch 2024). These actions have all aligned with companies' DEI policy and led to success within their initiatives. Which is why I think that Christian Dior's DEI policies have been greatly effective in generating meaningful diversity, equity and inclusion within the workforce.

SOFIA RAPOTA

Reflecting on my semester-long journey in the Business Decision Making course at RMIT, I can confidently say that it has been an interesting and transformative experience that has greatly broadened my understanding of the decision-making processes within business. At the beginning of the semester I approached the course with a rather narrow perspective, mainly focusing on traditional decision-making models and quantitative analysis techniques. My initial perception was driven by the simple information provided within our weekly modules and reading lists. However, as the semester progressed, I was pleasantly surprised to discover the breadth and depth of concepts, methodologies and tools that were introduced weekly. These insights were then discussed widely throughout class discussion and group projects which implemented the theories into world realistic situations.

Theoretical and practical experiences

One particular aspect of the course that resonated deeply with me was the focus on the importance of incorporating qualitative data and considering non-financial factors in decision-making. The aspect challenged my prior assumptions and encouraged me to reconsider my approach. Over time I have recognised the great value of qualitative insights, such as market trends, customer feedback, and organisation culture within the decision-making process. Furthermore, the case studies and real-world examples discussed within class provided invaluable insights in the challenges and complexities of decision-making in practice. Analysing these case studies allowed me to connect the gap between theory and application. In the process, enhancing my ability to critically evaluate and make informed decisions within real-life business scenarios, such as the Lucro challenge.

Challenges

While encountering certain challenges throughout the course, I found them to be incredibly inspiring. Where during Assessment 2: Team report (Part B) I was working with Alice to complete our written response for question 2, we realised half way through that our answers were too long to finish within the time constraints. By doing so, we stopped perfecting our answers and left some imperfections at the cost of finishing the project in full. This was a great learning experience that reminded me that imperfections and constraints associated with decision-making, prompt me to adopt a more iterative and adaptive approach. This new mindset has empowered me to navigate through uncertain situations with confidence and resilience, no matter how hard the challenge.

The future

Looking into the future, I am eager to dive deeper into topics such as decision-making under uncertainty, strategic decision making and risk management. Now I recognise the need to continue working on my analytical skills and expanding my knowledge within decision-making’s increasingly dynamic and complex business environments. In terms of what I intend to do differently in the future, I am committed to approaching decision-making with a more integrative and open minded mindset, considering both qualitative and quantitative factors within my actions. Additionally, I plan to seek out new opportunities for experimental practical application and learning of the decision-making principles in real-world settings, thereby further enhancing my skills and capabilities.

Final insights

The Business Decisions Making course has had a profound impact on my studies, reshaping my perspectives and ideas and equipping me with valuable views that will guide my decision-making practices moving forward in the future.