Due to the size and nature of this large establishment, it is necessary to maintain enough senior managers to oversee all of the divisions (“Strategic Audit of Lowe's Companies, Inc.,” 2011.) Lowe’s expands across different regions and countries, which makes a divisional organizational structure ideal. A divisional organizational structure consists of different divisions grouped around specialized departments such as sales, marketing, safety, and human resources. This allows each division to have some autonomy when making decisions inside the division (“Organizational Structure,” 2013.) A number of approaches were considered to help Lowe’s lower expenses and increase profits.
The important business competitive strategies are lower cost strategy and differentiation strategy. The lower cost strategy helps an organization compete efficiently in the industry by designing, producing and marketing a similar product from its rivals but at a lower cost. Differentiation strategy helps an organization develop and market a different product from its rivals. Our team understands these two competitive strategies because we can relate with always being different to stand out or try to purchase the same products and services at a lower cost instead at a higher cost (Wheelen & Hunger, 2014). To create value and sustained competitive advantage through business strategy, organization must be able to design, produce, and
Executive Summary a. What are the key issues? The key issues facing LuLulemon are how to manage the continued growth of their stores through expanding operations to achieve their goal of having three hundred stores worldwide, to build on their community based business model and grow their business towards their future ROI goals while still maintaining their reputation for quality & design and brand image. As well they are looking to build their management team and increase the operating margins of their stores. b.
I think that being able to connect with your manager as an employee is important, and not having to fear their title will allow them to be more approachable by employees who may present new ideas, and ways to better service our customers. Another aspect of the manager’s job at my company would be to consistently make sure all employees were educated on our software and how it compares to our competitors. Having this knowledge will empower employees to help overcome potential objections by customers and make them a trustworthy source of information.
A business can perform the research itself for an extremely less expenses. There are different ways for us to conduct primary research as I mentioned above. The use of survey and feedback forms is a great way of collecting information about our customers. Before creating survey questions, it is needed for us to organize for research questions, to explain what business targets our survey will deal with. Survey questions should be planned to meet the goals of our research.
As mentioned previously, they can easily create websites open to the public to advertise their products. They can provide information about the company and attract new people to their variety of products. Another advantage is the use of ecommerce and e-money, allowing consumers to pick out items and purchase them directly over the Internet, saving time, paperwork, and providing quick response time to their customers. Intranets can help many departments at the Dirt Bikes Company. First, providing employee financial information, pay records, and even benefits information on one site can greatly assist the Human Resource department.
P5 Explain how internet marketing has made a selected business more efficient, effective and successful. In this assignment I will be explaining how internet marketing has made a selected business more efficient, effective and successful. Opportunities for business efficiency Business efficiency is very important for a business. The reason why is because, in order for a business such as B&Q to surpass their competitors such as Homebase, Wickes and other DIY businesses they need to use the web to interact with suppliers and customers, by using the web B&Q will become much more efficient because they can meet customers ‘demands’ and suppliers ‘needs’. Streamline customer communications is a very efficient way of working because streamline customer communications deliver fast services, this is best way to keep customers satisfied and when customers’ are satisfied the business becomes more efficient because they are meeting needs and accumulating capital.
Role of Technology Paper Anthony Bando University of Phoenix BIS/318 Damien Edwards October 24, 2011 In today's business society, technology including hardware and software, is a critical role of all major businesses and corporations. Technology is essential in this current place in time to compete in the retail business. Technology can make the lives of a company easier as well as consumers who are willing to use it and save time and sometimes money. Technology can be in many different forms within an organization. Certain technologies enable customers and employees to communicate needs faster.
In the article he talked about five key points that help in cultivating an environment where learning occurs. He concludes by saying that there are many methods to build a learning organization but first the organization needs to build an environment that accepts wanting to learn. Bersin (2012) believes that if a company builds a culture which gives employees time to reflect, develop and share expertise, and learn from mistakes then they will be able to out-compete their competition in the face of huge market change. He finishes off by using Apple, IBM, and Google as an example of how building expertise and promoting organizational learning helps an
Marketing Plan for McBride Financial Robert Marler BSA/310 November 9, 2014 Joseph Rezendes Marketing Plan for McBride Financial The market, and what it can do for your company. A great marketing plan can go a long way for your company and making your more competitive with the competition. Think of reaching across the barriers of distance and time to bring in new clients extending your business needs across the globe while still staying in one location. So along came the Internet and globalizations. The Internet brought everyone right next door.