Bvfa Essay

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2. Business Strategy Analysis Identify the key success factors and risks of the firm's strategy and the sustainability of profits generated by the strategy given the threat of competition. BUSINESS STRATEGIES AND PROSPECTS The following factors are considered important in understanding the strategy of the Group and the main opportunities and threats that may have a signifi cant effect on its results and its prospects for future years. These factors are listed regardless of whether they were signifi cant in FY2014. Competitive advantages The Group believes that it has the following fundamental competitive advantages:  One of Australia and New Zealand’s largest ranges of home entertainment and consumer electrical products at discounted prices, positioned to appeal to all customers.  Positioned as a discount retailer with the ability to consistently offer everyday low prices. The Group is able to do this through the scale of its operations, high stock turnover and low cost of doing business.  Reputation for taking the deal and price leadership.  Distinctive brand personality.  Low cost operating model which underpins the Group’s competitive pricing in its store network. The Group is innovative in driving costs down and maintaining the lowest cost of doing business of any major listed Australian retailer. Motivated, passionate and knowledgeable staff. The busy and enjoyable working environment means that the Group continues to attract and retain high calibre staff.  High levels of customer service.  The model is constantly innovating to ensure that it remains current and relevant to its customers. The Group has a culture of embracing change, which is seen as a “natural” part of the business.  Ability to enter and grow new markets.  Stores located in high foot traffi c precincts which allow both convenient access for customers and

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