CENTRE FOR INFORMATION TECHNOLOGY

(CfIT)

Business Analysis for Information - INFO810/2401

Assignment 2

Strategic & Elicitation techniques analyse

Sephora using of conversational AI

Submitted to:

Dr Michael Bosu

Submitted by:

Dimithri Wellage
Table of Contents
Strategy Analysis Techniques....................................................................................................3

Porters Five Forces Analysis..............................................................................................3

PESTEL Analysis.................................................................................................................4

Benchmarking...................................................................................................................5

Risk Analysis..................................................................................................................... 7

Requirement Elicitation Techniques.........................................................................................9

Surveys & Questionnaires.................................................................................................9

Prototyping.....................................................................................................................10

Interviews.......................................................................................................................11

Storyboarding.................................................................................................................12

Critically evaluation and recommendation of methods..........................................................13

References.............................................................................................................................. 17
Strategy Analysis Techniques

Porters Five Forces Analysis

According to Indiatsy et al. (2014), Porter's Five Forces Model is a strategic tool for

examining the competitive forces that exist inside an industry. It evaluates the threat of

substitutes, buyer and supplier power, rivalry amongst incumbent enterprises, and the

threat of new entrants. Since strong pressures threaten profitability and weak forces provide

possibilities, an understanding of these forces is essential for making strategic decisions.

While many academics acknowledge the model's usefulness, others question some of its

shortcomings, particularly in light of the dynamic character of competition

(Karagiannopoulos et al., 2005).

Despite the critiques, the model gives useful information on industry profitability,

competitive dynamics, and possible tactics (Hill & Jones, 2007). Raible (2013) and Slater &

Olson (2002) both highlight the role of market structure on competitive behaviour, whereas

Porter's technique is based on industrial economics. In addition, this approach enables

organizations to grasp key competitors, estimate market power configurations, and

anticipate future movements with the assistance of analyzed information. Nevertheless,

critics of the model argue that the model is rigid and does not take the impact of

complements into consideration, which makes the change in technological advancements

hard to work with (Brandenburger, 1995; Moriarty, 1983). However, the technique remains a

cornerstone of strategic management, helping organizations investigate competition tactics

and industry feasibility.

Kraaijenbrink (2017) asserts that the Five Forces concept inspires innovation and assists

businesses in determining ways to decrease competition. Management may find it too

analytical or abstract in today's fast-paced, digital economy, yet it is taught considerably in

business schools throughout the globe (Grundy, 2006; Ural, 2014). The current firm needs to

incorporate digitization, innovation, customer solutions, and change management into the

framework of their strategy.

In a nutshell, while Porter's Five Forces Model provides a systematic approach toward

probing into industries, it needs to be combined with additional tools and factors to cope

with the complex, swiftly changing business environment of today.

PESTEL Analysis

According to Buye (2021), PESTLE Analysis is a technique for assessing the external factors

on an organization. It represents elements related to politics, economy, society, technology,

law, and the environment. This study facilitates better planning and decision-making by

helping to comprehend possibilities and problems in the corporate environment. The PESTLE

model helps in finding opportunities for development and guides strategic modifications

based on external conditions since external factors are dynamic. But because of this, it

needs ongoing assessment, which takes effort and expertise. Political concerns, such as

those of taxation, government stability, and international trade regulations, influence

business operations (Gregoric, 2014).

Market circumstances and consumer behaviour are influenced by economic variables,

including interest rates and GDP developments (Johnson & Scholes, 2020). Market demand

and trends are affected by sociocultural variables such as shifts in consumer attitudes about

work and leisure, as well as demographic shifts (Gregoric, 2014). Technology factors, such as

research investment and technology advances, have an impact on industry competitiveness.

Ecological factors such as energy consumption and environmental regulations have an

impact on sustainability practices (Gregoric, 2014). Legal aspects include regulatory

frameworks and compliance requirements (Johnson & Scholes, 2020).

Understanding the industry's environment and predicting future circumstances are the two

main purposes of PESTEL analysis (Dockalikova & Klozikova, 2014). It draws attention to how

interdependent many components are, with political and technological issues frequently

influencing legal, economic, sociocultural, and environmental concerns, among others. It

helps in complete viewing of risk management and strategic planning because, based on

this, organizations can effectively foresee better opportunities and challenges. In a nutshell,

the PESTLE Analysis provides a comprehensive framework for firms to manage external

forces, make the right decisions, and move forward with changing market conditions.

Benchmarking

According to Kailash et al. (2017), the process of comparing practices or performance to the

best-in-class standards with the objective of improving continuously is called benchmarking.

The steps include assessing performance, checking for developments, and learning from

benchmarking resource personnel. The main objectives would be finding prospects for

development and closing the performance gap between present performance and projected

goals (Kailash et al., 2017).

The main types of Benchmarking are, Internal benchmarking, competitive benchmarking,

functional benchmarking, and generic benchmarking. Internal benchmarking is the process

of assessing how several divisions or units within the same organization operate. Comparing

performance with external competitors is the main goal of competitive benchmarking.

Functional benchmarking is the process of comparing functionalities with rivals, even in

different sectors. Rather than focusing on particular company strategies, generic

benchmarking compares work processes (Zairi & Ahmad, 1999).

As a key component of total quality management (TQM), benchmarking helps the obtaining

of excellence through peer-to-peer learning (Lema & Prince, 1995). It is a systematic

approach for enhancing performance that focuses on important factors including

competitiveness, quality, productivity, and customer satisfaction (Burgess, 2000). Since its

establishment in American markets in the 1970s, benchmarking methods have gradually

improved, with a focus on cutting idle time and improving resource flow to increase the

productivity of middle-scale medium enterprises (MSMEs) (Kailash et al., 2018). Through the

knowledge of industry experts, this process helps businesses identify their strengths and

shortcomings and set goals for the future.

Small and medium-sized businesses benefit from it by working together and sustaining

resources, which makes it easier to share know-how and obtain continuous development

without having to start from scratch (Kailash et al., 2017; Zairi & Ahmad, 1999). In general,

firms can apply benchmarking as a strategic tool to improve performance and maintain their

competitiveness in the fast-paced business world at present.

Risk Analysis

According to Fosner et al. (2024), recognizing key issues, especially risks that may look usual,

is necessary for organizational resilience. This method includes business continuity, risk

management, and crisis management, all of which are required for good corporate

governance. Khan et al. (2015) describe the MOSAR (Method Organised Systematic Analysis

of Risk) methodology, which begins with recognising potential sources of risk and evolutions

through several steps, including identifying system catastrophes, assessing risks, eliminating

intolerable risks, managing remaining risks, and defining crisis strategies.

Risk analysis and assessment very important in examining risks and hazards impacting the

businesses and identifying strategies, safety regulations, and best practices (Fosner et al.,

2024). The risk appraisal for scenarios, based on probability and effect within the risk matrix,

highlights high-weight or significant risks that will require immediate attention due to

possible impact on achievement of corporate goals or use of resources. Especially,

technological, cyber security, and human resource risks are rated the most important,

demanding preventative actions such as technology updates and personnel training (Fosner

et al., 2024). Several risk analysis techniques have been developed, including fault tree

analysis (FTA), failure mode effect analysis (FMEA), bow-tie, formal safety assessment (FSA),

and Bayesian network (BN) (Fosner et al., 2024).

However, conventional techniques have problems in dealing with complicated causal

linkages and effectively recording expert assessments. These issues are particularly

recognizable in hazardous cargo operations, where traditional techniques frequently

disregard interrelated risk concerns (Ma et al., 2024). The Decision-Making-Trial-and-

Evaluation-Laboratory (DEMATEL) technique appears as a viable tool for analysing

complicated interrelationships among risk variables, providing a systematic way to build

causal models and successfully capturing expert opinions (Kuzu, 2021). Integrating such
methods can improve risk analysis, resulting in a more complete understanding of hazards

and advised decision-making in organizational resilience initiatives.

Requirement Elicitation Techniques

Surveys & Questionnaires

Surveys and questionnaires are important elicitation techniques, that allow analysts to

collect data from a wide sample simultaneously and analyze stakeholders' areas of interest

based on their replies (Calder, 1998). Variations in question wording and format can have a

considerable influence on the responses collected, as seen in survey research since the early

days of opinion polls (Cantril, 1944; Payne, 1951). Questionnaires, a well-known instrument

in social science research, collect data on participants' traits, activities, attitudes, beliefs, and

motivations for taking action on the issue under consideration (Bulmer, 2004). They provide

possibilities to reach a larger number of respondents and collect data on people's

experiences, making them a key research instrument in current studies (McGuirk & O'Neil,

2016; McLafferty, 2010; Parfitt, 2005).

Despite limits in qualitative data collection, questionnaires excel at offering insights into

societal patterns, are cost-effective, and complement qualitative research methodologies

(Sue & Ritter, 2012; Mee, 2007). However, creating questionnaires necessitates careful

consideration of length, clarity, relevance to study aims, and consistency with previous

literature (Sarantakos, 2005; McGuirk & O'Neill, 2005). While questionnaires do not give as

much information as extensive research methods, they are useful for finding patterns,

differences, trends, and episodes related to the study issue (McGuirk & O'Neill, 2005).

Overall, questionnaires are critical instruments for collecting data swiftly and effectively in

research projects.
Prototyping

According to Scott et al. in 2022, the method of Prototyping has been explained as an

effective knowledge elicitation approach that allows users to engage with systems and

obtain a significant understanding of their needs and preferences. This method is important

in agile software development because it provides constant feedback, promotes

cooperation, and ensures that user requirements are correctly implemented (Nielsen et al.

2010). It increases the comprehension and system design quality when prototyping is

combined with other elicitation methods such as interviews (Ramesh et al., 1995).

Prototyping considerably minimizes requirements risks by visualizing system functions early

on, highlighting difficulties, and facilitating informed decision-making (Banker et al., 2006).

Furthermore, prototyping in the requirements elicitation process helps stakeholders to see

realistic application models, provide early feedback, and improve engagement, highlighting

the relevance of this step (Fraternali et al., 1998).

The elements of appearance, data, functionality, interaction, and spatial organization

describe the complexity of prototypes in interactive systems design, emphasizing their

sophisticated nature (Lim et al. 2008). Testing prototypes with users is critical for defining

needs and assisting designers in decision-making (Gervasi et al., 2013). However, the quality

of prototypes might limit the elicitation of user perspectives and information, emphasising

the necessity of fidelity in prototyping (Bryan-Kinns & Hamilton, 2002). Prototyping debates

normally center on fidelity's positive relationship with value, since it helps with the

possession of design knowledge and the iteration of design concepts. Since Computer-based

apps and mobile devices can provide prototypes with different quality and interaction levels,

they are popular in prototyping (Hardy et al., 2015; Lim et al., 2006; Long et al., 1996).

However, using a single prototype or media might not help in capturing actual user
experiences, emphasizing the need of different methodologies in user research (Law et al.,

2014; Kang et al., 2023).

Interviews

Due to the capacity to obtain rich and detailed data directly from the participants of

interviews, allowing for in-depth examination and valuable insights that other techniques

may not capture, the interviews are considered as a valuable method in requirement

elicitation techniques. (Smith & Noble, 2014). According to Brown & Jones in 2017, it

explains that when it comes to its full understanding of user wants and preferences,

interviews allow researchers to dive into motives, obstacles, and goals, resulting in a more

holistic approach.

Interviews also generate good understanding and trust between interviewers and

participants, helping to build an interpersonal atmosphere suitable for open sharing and

deeper exchange of experiences (Johnson et al., 2019). When investigating complicated

topics and gathering multiple viewpoints, this interactive quality is especially beneficial

allowing researchers to dig deeper into underlying variables and discover varied insights

(Smith et al., 2016). According to Green & Brown in 2018, the iterative structure of

interviews improves it by allowing for feedback and customization during the elicitation

process, resulting in more focused questions, investigation of emergent themes, and

validation of findings for strong outcomes.

Even though there are many advantages, some of the disadvantages that have been

confronted with interviews are bias, concerns on interpretation, and being resource-

intensive; therefore, a researcher must ensure neutrality, triangulation of findings, and

verification of validity through rigorous techniques (Jones & Smith, 2020). Thus, while

interviews offer unique depth and knowledge in eliciting data, it will be overly important to
overcome these barriers in order to increase their usefulness and trustworthiness in

research and decision-making processes.

Storyboarding

Storyboarding is essential for extracting needs and concepts because it allows stakeholders

to envision abstract ideas tangibly (Johnson & Smith, 2018). The transition from abstract to `

images improves stakeholders' knowledge of the proposed system or product, allowing for

clearer communication and decision-making. Moreover, storyboarding is helpful in the

capture of user scenarios and interactions, hence a complete view of the user journeys,

activities, and experiences (Brown et al., 2019). A storyboard, with visual narration, breaks

the communication barriers between technical teams and nontechnical stakeholders; this

allows for collaboration that is effective and aligned with project objectives (Smith & Green,

2020).

Furthermore, storyboarding facilitates iterative design and feedback loops, allowing for

quick prototyping, early feedback collection, and informed decision-making based on user

input (Green et al. 2017). Storyboarding workshops improve collaborative problem-solving

and idea development by fostering consensus and shared knowledge among team members

and stakeholders (Johnson et al., 2021). Despite these benefits, storyboarding has

drawbacks such as time constraints, complexity management, and the need for continuous

validation to ensure alignment with user expectations and project objectives (Brown &

Jones, 2022). As a result, while storyboarding increases communication, cooperation, and

decision-making in projects, careful planning, specified targets, and ongoing validation are

essential to maximize its usefulness and address any issues.

Critically evaluation and

recommendation of methods

When considering above strategic analysis methods, all Porter's Five Forces Analysis, PESTEL

Analysis, Benchmarking, Risk Analysis provide comprehensive insights into both internal

operations and external factors influencing the company's success. According to Porter's five

forces analysis shown in Figure 1, we can understand that Sephora has a lot of rivalry and

hurdles in the market for cosmetics. Its strategic strengths include its wide product selection,

exclusive partnerships, strong brand, customer loyalty programs, and effective omnichannel

retail tactics. Sephora has to constantly innovate, accommodate consumers' changing tastes,

enhance customer experiences, and ultimately differentiate itself from the rest to be

competitive.

Low to Medium
Threat of New Established brands and lot of barriers to enter, lot of emerging online
Entrants: beautycare products shops

Medium
Bargaining Power of
Many suppliers registered in Sephora supplier network, they have a
Suppliers
power due to uniqueness of each product

Medium to High
Bargaining Power of
Buyers (Customers): Buyers have access to vast range of products and choice effected by
brand status, loyalty programs can attract customers

Medium
Lot of alternative products from various suppliers are available but
Threat of Substitutes:
Sephora's special unique rnge of products and personalized experience
can mitigate the threat

High
Rivalry Among
Competing Firms: Intense competition with many brands and retailers. Pricing,
Differencation, arketing strategies, User experience drives competition

Figure 1: Porter's five forces analysis for Sephora

Porter's Five Forces Analysis Provides a structured framework to analyse competitive forces,

industry attractiveness, and strategic option therefore Suitable for understanding Sephora's

competitive position, threat of new entrants, buyer power, supplier power, threat of

substitutes, and rivalry among competitors. However, it can lack complements, as well as the

dynamism of the beauty care industry.

Figure 2 shows the PESTEL analysis for Sephora, and it explains that To maintain

competitiveness, ensure customer satisfaction, and achieve sustainable growth, Sephora has

to operate and adapt within the dynamics of a changing external environment influenced by

the political, economic, social, technical, environmental, and legal context. Therefore, highly

suitable for Sephora to understand market opportunities, challenges, and regulatory

influences. It complements Porter's Five Forces by focusing on broader external factors.

Political
Based on each country Sephora operates, need to comply with regulatory frameworks
Changes in international trade policies impact Sephora supply chain strategies

Economical
Consumer power of purchase is impacted with economic conditions, Any downturn can cause low interst in
purchase
Exchange rates fluctuations can cause change in import costs, profit margins

Social
Sephora needs to engage with updating social trends and factors
Need to target different Demographic groups based on age, gender, ethnicity and culture

Technological
Online presence and digital marketing presence is critical for personalised marketing
Augmented Reality in use , Virtual try-ons, advanced beauty techniques, smart skincare devices, can impact
product marketing

Environmental
Eco-freindly product range, environmental sustainability, Biodegradable packaging, animal cruelty free
product testings are important with customer awareness on these factors
Need to follow waste management, recycling and sustainability practices

Legal
Adhering to laws and regulations related to products safety, labeling and testing
Trademarks, Intellectual property rights, formulations, patents are essential in competitive market

Figure 2: PESTEL Analysis for Sephora

As shown in Figure 3, by utilizing Benchmarking in different areas Sephora can obtain

important facts to identify opportunities and develop to get competitive advantage while

driving the business growth. Benchmarking areas can be categorized as below,

 Internal Benchmarking
Individual Product performance
and Efficiency in each process

Competitive
Innovation & Trends Benchmarking
Newproduct developments, Benchmark Product range,
Sustainability practices quality, pricing to identify gaps
and Analyze marketing
strategies

Sephora
Benchmarking

Functional Benchmarking
Performance Metrics Retail experience of Sephora
Customer Feedbacks and KPIs and Advanced digital presence

Generic Benchmarking
Identify best practices in
general processes

Figure 3: Benchmarking in Sephora Business

Sephora is allowed to contrast its practice and performance with industry benchmarks, thus

bringing in continuous improvement. It's useful in benchmarking the operation, customer

satisfaction, and market positioning of Sephora compared to industry best practices. It

enables the identification of areas for improvement and innovation.

Risk analysis is fundamental in the identification of vulnerabilities, risk assessment, and

building resilience strategies or crisis management. As a result, Sephora needs to assess the

risks of technological disruption, vulnerabilities of the supply chain, and shifts in the markets

that may influence the taste and preference of consumers.

Sephora can focus on below factors in risk analysis,

 Market competition
 Supply chain disruptions
 Regulatory compliance
 Cyber security threats
 Brand Image and Customer Perception
 Economic Volatility
 Environment sustainability risks
By comparing all the strategic analysis methods, with the number of details covered and the

relevance to external factors affecting the continuity of business, PESTEL analysis can be

prioritized and practiced. Looking at dynamic markets for Sephora and deep insights into

both internal operations and external factors, a combination of methods would be most

effective. I propose initiating with the very thorough PESTEL analysis for the understanding

of the external environment, followed by Porter's Five Forces Analysis to understand the

competitive forces and the industry's attractiveness.

When evaluating the elicitation techniques, surveys and questionnaires are highly effective

in collecting data on client preferences, satisfaction levels, and market trends. This makes

them important tools for Sephora to get insights into customer demands, product feedback,

and preferences for beauty care solutions. Prototyping allows consumer participation,

feedback, and visualization of the ideas and features of a product. Therefore, it is valuable to

develop and improve beauty care products, test new ideas, and gather customer feedback

for product improvement. Interviews allow in-depth information and probing into motives,

problems, and preferences; hence, it builds rapport with respondents. Valuable for

understanding the experiences of customers and market trends and gaining deep insights

into consumer behavior. Storyboarding is a technique that helps to depict concepts,

scenarios of use, and interactions, making it easier to communicate and decide. Therefore, it

will help to showcase product concepts, describe user experiences, and solve problems

through collaboration in the process of creating a product and making marketing strategies.

When it comes to requirement elicitation techniques, based on the nature of the business

it’s important to capture customer preferences, market trends, and product expectations in

a deep level. Therefore, it’s recommended that Interviews can be the best requirement

elicitation method to obtain details on Sephora business.

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