Unit 4 Assignment 1 Leon Taylor P1 - For this section I have chosen to use B&M Bargains as my selected business to talk about and display the forms of information that they use. Within B&M there are many formats of communication and types of information used in order to make sure that the business runs successfully. These types of communication are very important in maintaining the companies good image and replicating professionalism and quality with there partners and customers. Firstly within B&M one of the main types of communication that is used within B&M is verbal communication. This type of communication within B&M is probably the most important as it is the most common type of communication used and is vital in making sure that important business deals can be made and so customers and clients feel secure and can create an understanding with the company.
In today’s furniture industry there are many companies to buy from, no matter what piece of furniture one is looking to purchase. But, there are two furniture companies in particular that approach their business models differently and subsequently yield very contrasting results. Ikea chooses to focus on offering affordable furniture for the average person, while still providing pieces with modern design. In contrast, the La-Z-Boy furniture company values the quality construction and innovation of its items as a long-term investment. La-Z-Boy strives for products that are synonymous with quality and comfort, while Ikea chooses to offer many products for the home at a cheap price.
They want to be a best fashion shop in the world, and for this they need to be come with new ideas. * Meeting customer needs – Primark sells all products that customer wants in fashionable and they sells all age people cloths. * Identifying new needs - Primark also bring new ideas on sales and their offers in cloths. Also they are just focusing on customer and not just brand Strength – being popular and most people like to buy from there and its cheep, also selling good quality products. Qualitative and high fashion items for a low price.
Economic value is a primary focus to determine infrastructure between the supply chains. No ordering and producing products without a demand will promote flexibility in terms of product mix and eliminate product waste and services. The organization will not go without stock, sales, and distribution of products in demand. Therefore, Home Depot’s supply chain value, management, vision or goals and development priorities should focus upon the following objectives in the next 24-month period. Home Depot’s key to success is the way the organization treat people well and encourage associates to speak up and take risk in leadership and development for growth.
Target is also a discount store, but they offer a different spin. They are more focused on the style. Target’s corporate strategy is one that has changed little over the years: to provide high-quality, stylishly designed items plus all the essentials for life, displayed in a clean, organized and welcoming environment. Target’s size is most beneficial because they can cater their services and products to change with trends more quickly and at prices that are affordable to the customer. Target appears to run on a functional organizational structure.
Case Study: IKEA Invades America Eunice Hurh University of North Texas Case Study: IKEA Invades America 1. What factors account for the success of IKEA? a. There are three main factors that account for its continual success in the furniture retailing industry: Scandinavian designs, cost efficiency, and product strategy i. Scandinavian heritage is showcased beautifully through IKEA’s simple yet unique designs. In the early years, IKEA’s designs were functional at best, ugly at worst (Moon, 2004).
Case Study: IKEA Invades America Eunice Hurh University of North Texas Case Study: IKEA Invades America 1. What factors account for the success of IKEA? a. There are three main factors that account for its continual success in the furniture retailing industry: Scandinavian designs, cost efficiency, and product strategy i. Scandinavian heritage is showcased beautifully through IKEA’s simple yet unique designs. In the early years, IKEA’s designs were functional at best, ugly at worst (Moon, 2004).
1. Introduction 1) IKEA Global IKEA is the world’s biggest and most globally diversified furniture retailer, present in 39 countries through 316 stores (Euromonitor International 2011). It utilizes price leadership as its main growth strategy in developed countries, providing exceptional value for money through its offerings of an immensely wide range of original and quality furniture and home accessories. IKEA executes this strategic position through a combination of global sourcing and efficient production, coupled with savings on labor costs through its DIY (do it yourself) and home assembly concept. [pic] source: Euromonitor International 2011 Being present in 39 countries and counting, IKEA capitalizes on its Swedish and Scandinavian roots in its continued global expansion.
As of August 2009, the chain has 301 stores in 37 countries, most of them in Europe, North America, Asia and Australia. IKEA is the world’s leading furniture retailer and has set new standards for competitiveness in household furnishings. The company has achieved this position by redefining the roles and interactions between the firm and its customers and suppliers. Since 1991, corporate policies about the company’s impact on the natural environment have been integrated into the parent organization. IKEA’s entrepreneurial initiatives in its industry need highlighting as well, which means that the case could also be used in a course on corporate entrepreneurship.
These products have low prices as a result of IKEA’s core competencies. The assemble-it-yourself furniture concept made it possible for IKEA to reduce cost, as it does not have to take extra time and money to assemble the products. The assembly process is left for the customers to do at home. This minimizes the cost of labor and operation costs, making it possible for IKEA to sell these products at a low price. The furniture showroom/open warehouse is a unique store concept that people find an interesting and effective way of shopping for furniture and in-house products.