Political. These five factors help to define and analyse external environments, providing an accurate understanding of them. By doing a STEEP analysis it means you can identify the external environments that influence your business enabling you to identify problems and solutions. This is my finding when doing a STEEP analysis for The Lodge Bistro: Sociological Factors: The Décor and Menu are based on the first Café that opened in 1989 and are Outdated. Although this image may be keeping your older more loyal customers happy, they are visiting less frequently and are not spending as much money as they used to.
Not enough money and too much stress lowers the quality of life that people have, and their standards of living also drop, as they are forced to get by with cheap, low-quality items (Nickels, McHugh & McHugh, 2010). Walmart has changed how the retailer and the manufacturer negotiate prices. The manufacturer used to be the one to tell the retailer, "I can make this for you for this much." But Walmart has become so big, so important, that now they
Low customer satisfaction is another internal weakness that is crucial to the success of CanGo. Another internal weakness includes severe communication issues within CanGo’s management and employees. External threats such as competition, plays a big role in the future success of CanGo. Your organizations internal organizational strengths such as online growth, and cost advantage offers great potential if properly utilized. Another external threat includes economic slowdown.
Besides, if chains closed every time they lost money, there would be a huge loss in just the opening and reopening phases of a business. Consumers of Company Q's have requested that the company provide more health oriented products. After years of requests, Company Q's stores have began to offer a limited variety of products that are better for its consumers. However, of all the viable options of products to carry, Company Q only retains high margin items, that is, items that have a higher profit margin. While it is a positive thing for the company to recognize it's community's need for better foods, keeping only expensive health foods is almost like monopolizing the consumer's health in exchange for
• Low business profit • Closure to the business. • Food Wastage The above analysis shows the issues and it clearly shows what the business needs to improve. I have chosen this Analysis to explain the Weakness and Threats to the business. Weakness I believe Staff Training and Procedures is a weakness to the business and improvement is needed in this sector. Giving staff better training in any business will improve the service, less mistakes will occur and staff will feel worthwhile.
The cost minimisation strategy employed by British airways during the recession proved to be an influential choice. It forced BA to be sensitive and cautious about cost and the passengers' volume has been cut down in terms of business and tour travellers. The industry competition is getting fiercer as by the joining of the lower cost airliners which indicates BA has to master the value creation process, or the value chain, with business perspective and cautious. In addition, the cares on the stakeholders in each stage of the business should be paid attention to, or it may leads to the negative impact to BA such as the staff strike took place in January 2007, which gives BA's brand image a big shock. These cuts the company has to make resulted in employee dissatisfaction.
Bridget Hutchings - 228303 EST1 - Task 310.2.1-05 The attitude of Company Q towards social responsibility seems to be decreased by the pressure of profit loss. They closed 2 stores recently due to the fact that they were continually losing money. This not only creates a problem for the employee's that worked there, but also for the customers who frequented the stores. By improving their ethical makeup they could not only improve their profits, but it would also help the relationship with their employees and customers grow. There are a few things that Company Q could work on and change to create a better enviroment for the community.
401(K) has become ineffective because of the corruption of big business, the misunderstanding of and as a result a mishandling of the 401(K) accounts, and its correlating dependency on the market’s success. Making profit is important to people. Most of all, improving the bottom line is the primary objective for major companies. “For Robert Shively, learned that his employer, Occidental Petroleum Corporation, or also-known-as Oxy Pete,” wanted to forgo the guaranteed-employer pension plans for the less demanding 401(K) system where it is based on contributions from employee’s pay rather than from the employer’s profit. This forces the employee to save without any effort but, due to this, workers began to neglect the social security and entirely dropped the use of the original pension plan.
The focus of the company was shifted to centralization; standardization of business processes, and new metrics for performance measurement was established. Due to such heavy prioritization on processes and profitability, Home Depot slipped on customer service and experienced loss of market share to its competitor Lowes. In 2007, Frank Blake was appointed to save Home Depot from plummeting further. Frank Blake and his leadership team turned back to the foundation principles on which the business was built- customer service and entrepreneurial culture. Even though there was a decline in sales due to recession, Home Depot was able to make a comeback by gaining market shares, aligning its business units and improving its information technology systems, merchandising, supply chain and employee morale.
This can lead to potential employees not giving Yahoo a second look. Yahoo has a high demand for information technicians, while there is a short supply for workers with this degree or experience. The company seems to be losing their employees to more exciting new companies while Yahoo is staying a part of the older internet industry. Internal recruiting