Tim Hortons Integrated Case Study Cody Gonek Northern Alberta Institute of Technology Introduction Tim Hortons is a thriving organization that has been growing substantially over the years. They have been growing their market by not only opening new stores in Canada, but also in the United States within the past year (Shaw, 2014). Tim Hortons appeals to a large demographic that appreciates the combination of fast service and a quality product. The case, “Tim Hortons: A Taste of Home” (Daft & Armstrong, 2009, p. 510), discusses the issue of broadening the market of Tim Hortons into new horizons. It discusses the immediate effects and opportunities of opening a Tim Hortons in Kandahar, Afghanistan.
It is also exploring the idea of economic growth which is the increase in the amount of goods and services produced by an economy. These three subtopics will be deconstructed to see how globalization affects Canadian business. The term globalization is constantly being discussed on social networks and media. It is all around us people higher up the totem pole are happy about this, but the rest of the people in our advancing world are somewhat trapped because of it. But what about Canada and Canadian businesses?
How to expand its product reach and close the gap between $6-$8 million and 25 million? ……………………………14 6.1 Why we need to enter the retail store? 6.2 How to enter the retail? How to increase the revenue? 6.2.1 New Brand/Product 6.2.2 Retail Cost reduction 6.2.2.1 one is the order point and inventory cost 6.2.2.2 another one is the waste of internal cost, such as transportation cost 6.2.3 Direct selling cost reduction 6.2.4 Building up the corporate image and value is vital to the success of firms.
Upgrade one or both of the hotels to upscale status * GR already have good service to meet customer’s expectation for luxury hotels * Demand for upscale hotels is growing at a faster rate than mid. GR can use this opportunity to expand its business and mitigate the risk of a shrinking mid-scale market * According to the Industry performance metrics, upgrading to upscale hotels lead to higher occupancy, which is in line with the board’s target. * Return on investments after tax for both Montreal and Toronto are more than
Doing this allowed Home Depot to attract new customers because of the new, innovative products they now stocked. (Constantineau) With the addition of HR managers in each store, proper training and the evaluation process became a focal point. Pre-Nardelli, there were 157 employee performance evaluation forms in use. He cut that down to two, one for management and one for regular employees. Distinguishing itself from competitors is a constant battle, and the macroeconomic environment may shift against the corporation.
To begin, they have added volume to their business which was not available locally. According to Gupta, Govindarajan, & Wang (2008), they have exploited economies of global scale. The only way to increase their business volume was to go global, and increase profitability. Localized plants can help reduce the time it takes to deliver cement to a customer, which will help increase their customer satisfaction, and gain them additional business. In addition, when CEMEX began expanding abroad, they used PMI teams to streamline a new firm, identify and retain talent, and adopt the key standards of CEMEX's business model.
In order to meet the goals, GR Hotels has options which include improving either or both hotels, exercising an option to purchase land to either quickly sell the land for profit or enter a new market for business accommodations by building a conference center. Based on the different constraints and analyzing financial figures, it is suggested in order to improve current business; GR Hotels Corporation should upgrade the buildings and provide additional services to transition into an upscale and luxury rank. Doing so will increase profit and also continue to establish their brand by having clean rooms and excellent services. Introduction GR Hotels Corporation is a privately owned corporation that has two hotels located in Montreal and Toronto. After successfully establishing the brand, the company wishes to expand the business by either improving the statuses of the hotels or entering other business accommodation markets by creating conference centers.
I agree with the perspective of the author, I believe outsourcing is more of a disadvantage to Canadian’s. Although I believe outsourcing is a disadvantage, some would argue that it is more of an advantage to Canadian’s. There are some advantages such as more access to customer service, building trade relationships, saving money or exposed to a new culture. With the strategy of outsourcing customer service is increased because people in other countries are given the education to provide excellent customer service. By outsourcing in other countries, Canada builds more trade relationships which has a positive impact on the Canadian economy, it also increases the flow of money within our economy.
There is a lot more information today and people are connected to the production of their products more so than ever. With the free flow of information, people are much more informed about where and how their products came about. “Made in America” used to be a standard for the quality of product and business practice, but I believe it is moving towards the perception of locally-made (reinvest locally). Companies are now the labels that carry the reputations of quality and good business practice. Whole Foods has grown dramatically in the past decade, because even though they are generally more expensive, they provide a standard of quality and good business practices.
The success of strategies depends on ability of an organization to satisfy customer needs better than its competitors in market. Krishna & Vasant (2006). Therefore it can be said that marketing mix strategies in retail are highly influenced by the customer’s needs and requirements and strategies adopted by competitors. That aim of marketing mix strategies in retail sector is to satisfy specific customer needs with price strategy that can make some profit for the organization (Kurtz et al,2009) Blankson(2010) explain that retail marketing mix strategies should aim to create distinct image in the mind of consumer while mix can vary on the basis type of specific market requirements. Many elements can be placed to form marketing mix of any organization but most significant elements are given as follows (i) Store location (ii) Merchandise and Category Management (iii) Pricing (iv) Inshore marketing (v) Customer Relationship Management These retail marketing mix strategies at Argos are discussed here in detail (i) Store Location:- The selection of store location is most significant and important decision and success of business heavily relies on this decision.