"STAKEHOLDERS:Since 2003, the OREE association brings together local governments, companies, andassociations to work in co ordination and create methods of improving the environmentalawareness. The Moët & Chandon and LVMH Fragrance Brands have set up awareness rasingand training programmes for the disabled. In 2007, the „LVMH Handcap Misison? wasestablished. Maintaining jobs for senior people and a no discrimination work ethic. Thepermanent policy of LVMH is to hire people and provide them with extensive training regardingprocesses and techniques used in manufacturing products. LVMH is involved in social andcultural activities also. Several companies of LVMH group have implemented suppliercompliance programmes and codes of conducts. Audits of the suppliers are also carried outoccasionally. LVMH believes in active community involvement by ongoing support to majorpublic health and humanitarian causes as well as to medical research. Regular meeting reports tothe shareholders provide the shareholders an opportunity to be aware of what is happening.COMPETENCE STRUCTURE:The groups? core competencies can be explained through the four elements of price, products,distribution and communication. The pricing is such that it compensates for the high costsinvolved. The products are of very high class and defines the lifestyle of the consumers. Sincethe target market share is very niche, the distribution process is structured.Communication issound as the resources are managed separately. The network within the companies is extremelystrong. 12REFERENCES:Michael Porter . 1985. ,Competitive Advantage: Creating and Sustaining SuperiorPerformance.Arkebauer, J. and Miller, J. 1999. Leading edge business planning for entrepreneurs. Chicago,IL: Dearborn Financial Pub..David, F. 1993. Strategic management. New York: Macmillan.Hunger, J. and Wheelen, T. 1996. Strategic management. Reading, MA: Addison-Wesley Pub.Co..Sadler, P. 2003. 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