I believe that they need to get a business manager first that can help the business grow by coming up with new ways to restructure the company. Also, he/she needs to build a marketing plan for the services offered and software produced, and decide what other hires are needed to get the plan implemented. 3. Question: Do you think the major hesitance of changing the organization is the first time costs that will be incurred or more so the behavioural and structural changes needed? From the way Pay Zone is portraying its services and future plans, especially thinking of retiring soon, the owners will contemplate costs.
Sam’s Club is the same way but it is geared towards companies and seems to sell more office supplies. Costco is rapidly expanding since they have noticed the two differences between BJ’s and Costco, with the intent for people to do one stop shopping for family and work all at one place. 3.) Out of Costco, BJ’s and Sam’s Club the strongest financial performer is Costco. Costco is making the most profit by the high amount of net sales and total revenue.
Then the organisation must define the competencies and motivational profile required to undertake those roles. Next comes assessment of people against them . After assessment, pools of talent that could potentially fill and perform highly are identified. These employees are developed to face advancement into critical key roles. When succession planning is done right, organisation , it has a qualified pool of candidates ,ready to fill critical or key positions.
Because of this research and development is very important and an absolute necessity to stay ahead of the competition. STC has one of the broadest lines in the industry which is a large competitive advantage. Teradyne is STC’s biggest competitor at this point, with sales approximately 70% higher than Science Technology in 1984. Plans are underway to introduce a new tester in 1986. Financial conditions STC has had increasing sales from 1980 to 1984 and the cost of goods sold and selling, general and administrative expenses have been consistent with growth.
Dominating food and grocery retail market by almost three-fourth of all sales accounted, Tesco cemented its place to be largest retailer in UK. This case study brings into lime light the factors that contribute to growth, strategic analysis on options existing, evaluating business strategy and there by generating loyalty as a competitive advantage over other major players in retail segment. Broadly speaking the success of Tesco lies in creating multiple sub brands under a single brand creating a product value chain building on customer knowledge that has been unrivaled over years. After 1995 Tesco’s strategy remained transcendental, as it became UK’s largest retailer leaving behind Sainsbury’s by focusing on strength to strength and there by widening its horizon in terms of stores, products and service(The Guardian). Its strategy to develop a three tier branding system also made Tesco closer to mass marketing environment.
Strengths Wal-Mart has a profusion of strengths which is apparent due to its outstanding success. This retailer is the largest in the United States and a place to get a respectable job without a college degree. Criticisms have been made how Wal-Mart pays low wages, but this still gives people jobs and being employed is important in this economy. Wal-Mart beats the competition by saving families hundreds if not over a thousand dollars a year with their aggressively low pricing strategy. Slashing prices as they have over the many years lures in consumers to bring in more sales.
An organization should analyze the status, strategies and resources of its products or services to allow operators to determine how they will progress in the years to come. This also enables the organization to identify their strengths and how they will optimize them. Subsequently, analysis forces organizations to realize their weak points, allowing them to address them immediately with effective strategic actions. Conducting an analysis also helps organizations prepare for their future development and growth. How does an organization determine in which direction they will go?
Big stores (chain stores) are the result of when a small store (independent store) becomes successful and is able to expand into multiple locations. They are successful for many reasons that are important to customers and smaller stores can benefit greatly by operating next to a big store. Testimony from small store owners and studies show that big stores have the potential to be a positive addition to any community including the surrounding smaller stores. Many studies have been performed showing evidence that small stores that are located near big stores have experienced increased sales as a result of an increased traffic flow of customers from the larger store. Purdue University conducted a study consisting of 101 entrepreneurs between the times of 2004-2006 asking why they decided to start a business.
Trace your lifeline – activities that are vital to the organization’s global success should be identified as well as specify the roles of responsibility for those who will carry out these activities. 3. Build a global database to know who and where your talent is - focus on all levels of the organization not just top level executives, do not neglect the market’s middle management, and seek potentially new talent entering the workforce. 4. Construct a mobility pyramid – due to changing opportunities within the company, assess those employees who are willing to move to new locations and new positions according to their experience and ability.