A potential opportunity that they could explore is to utilize self-checkout terminals in their locations. Self-checkout point of sale terminals could do many things to improve Kudler Fine Foods as a retail competitor. First, it would improve their customer service as many customers prefer to check themselves out rather than having a cashier. In today’s technology environment, “…systems can be tailored to better fit any retail environment and are more focused on improving customer service rather than cutting labor costs” (Murphey, 2009, p. 1) . Even though the prime focus of these systems is not necessarily to cut labor costs, often times they can improve efficiency.
Children are also closer to schools, parks, friends and soccer practice. Another advantage of the bigger city is the growing economy has a better job market with higher paying professional positions available. Young adults often choose to live in apartments, that are close to colleges, work, and to nightlife and entertainment catering to their interest, are all in walking distance. You will also find high-end specialty shops that cater to the wealthier spenders, and business professionals. The growing economy makes the cost of living more expensive, the overpriced houses are closer together, so you have very little yard to keep up with.
Outsourcing brings proven benefits in the form of economic leveraging, increase in the quality of products and it provides a number of opportunities to less developed countries. For example in recent times, Americans are overwhelmingly supporting the major retail stores like Wal-Mart, Target and K-Mart. The reason behind this consumer loyalty is that it has become much easier to shop at these locations rather than the local mom and pop stores located on the corner of most neighborhoods. The benefit is that you can purchase everything on your shopping list from one location, saving you time, money and gasoline. In a highly competitive business world, on a firm’s priority list is the subject of increasing profit and reducing cost.
If not there a shopping mall where thousands of people shop every day. They can profit from all holidays shoppers, visitor and mall workers. Some weaknesses with opening a store on a large scale would be not having control over the bigger problems. Since the company hasn’t quite yet managed to control the smaller issues, I would think it would be bigger fires and more waste occurring. Keeping up with the demand of the operation on a bigger scale will require more attention to detail with the order of operation.
Explain the term ‘globalisation’ and the role that multinational companies play in the development of globalisation. Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation has increased the production of goods and services and has therefore lead to increased trade between countries. This trade encourages countries to work together and removes trade barriers such as quotas and tariffs. This increased openess allows countries to specialise in producing goods which they have a comparitve advantage in (this means they can produce goods at lower unit costs) A multinational Company is a corporation that has its facilities and other assets in at least one country other than its home country.
What are some of the advantages of being a small business that Murray’s can (or does) take advantage of? What disadvantages might it face as a small firm? One of Murray’s advantages of being a small business is that they can adapt to changes quickly. They do not need anyone else’s permission to do so. They keep their customers happy, by catering to customers’ needs and wants; like different merchandise, services, store hours, and price strategies.
Frodingham Road is used for many purposes, for different people of all ages and races. There is no doubt that it has become a better place than what it was due to the recession, which has helped benefit people by giving them jobs and a home however it can also be argued that some people lose out because of the types of shops that are opening and the safety of the
Blitz is a small specialty shop chain owned by Dalman and Lei. The strength of Lei and Dalman committing to a large scale expansion of the company is the fact they have a strong business plan in place that is showing success. By opening a chain outside of their current city this would allow Blitz to appeal to a wider range of customers. Expanding within the same area this may cause a cut in the amount of customers that visit other established shops but they still missing out on money that could be earn by spreading their wings more. A weakness of Blitz committing to a large scale expansion is the fact that their current business plan seems to be working just fine because they have made their first link of chain the training camp for their new hires.
Payless normally occupies just not so big a space that optimization of sales persons is limited. Opening and closing the store and staffing up beyond a certain point create a crowded, uncomfortable space and environment for customers. Space is very important because physical environment plays a major role in the success of the business. Payless customers come in families and extended families. It is very important that enough space be provided for them to allow for more
What do you think of the base business plan in terms of the potential for demand for services as described? (15%) There is potential demand as long as they target the right group of people and they differentiate themselves correctly. However there are many alternatives around the same area where they want to be located: eSince is placed within walking distance to many offices the business professionals seems like a good market with high disposable income, but not a significant one since they don’t share the same schedules (mostly after work, before work and lunch break). I would go for sports professionals since their time schedule is more open and they can charge a premium. Through word of mouth this could make bring other categories of customers to fill in open hours of the gym.