I also noticed that shift leaders lacked an efficient amount of minorities in their field as well. The patterns suggest to me that not enough women being hired and not enough women and minorities are being promoted. 3. Yes I do think that the company should engage in specific strategies to change their recruiting and promotion practices. Obviously they are lacking minorities in their shift leaders position so perhaps reviewing minorities that are qualified for the position first would be a good start for them in obtaining their goals.
Urban Outfitters continuing case study Creating a Business Chadwick Tate Professor Gerard Cummings Creating a Business: Week 4 October 26, 2010 This essay will discuss the challenges one will face when setting up a business. Starting a business when economic conditions are tough; developing an effective survival strategy is never too late to identify risks and learn how to address and manage them. 1. Identify at least three challenges when setting up a business. Explain why they are challenges.
Bargaining power of suppliers- This is a very important aspect of the business, customers want quality products at the best price possible. It is imperative that the manager or person in charge of inventory is knowledgeable in his/her field and has good communication with suppliers to insure better prices. 3. Threat of entry of new competitors- The threat of new competitors is medium. The cost to open new business is high and not everyone can afford it but it is also important to take into account that this is a commercial area near a college campus; therefore it attracts more business than other areas.
Urban Outfitters Continuing Case Study Part 2: Creating a business Business 100 July 17, 2011 1. Identify at least three challenges when setting up a business. Explain why they are challenges. The three main challenges when setting up a business are: cash flow, product supply and demand, and human resources. Depending on the type of business, you will have the initial cost of beginning the business prior to any income derived from that business.
If the idea of the whole thing does not get presented in the correct way, the business itself can fall rather quickly. An entrepreneur may see their business as a great idea, but if the idea is not conveyed people will not come. Another challenge would be simply finding the correct location for the business. Urban Outfitters had a great location when they chose to open their stores near colleges. The store itself was selling items that a college student might find interesting, causing it to be a big hit in the areas it was located.
This means that companies will often omit negative aspects of the position from job postings in order to avoid scaring off applicants. If a company is to compete with these other companies that hide negative aspects of the position to be filled they must make their job postings competitive. An argument for using realistic recruiting policies is that trapping employees or “springing the bad news” on them after they are hired will no doubt raise the cost of retention. As employees find out the entirety of their job after they are hired many of them will no longer see the position as an opportunity and may soon begin searching for new
When customers think of a niche store like Urban Outfitters they will be thinking of items that will be specific to that type of store such as a specific type of shirt or hat. Could the big box stores sell merchandise identical to Urban Outfitters? Explain your answer. Stores such as Wal-Mart and Sears both base their products off of a large demographic not a niche group, as niche products would not be financially feasible for the companies. Niche companies such as Urban Outfitters sell products that are not as common but in demand.
Something to remember is that without strategy the company would be pretty much shooting in the dark. This would be a continuing question without some type of direction. It allows the business leaders to weigh the pros and cons of different decisions in order to get to the proper way to go. The business strategy is allowing you to take into mind the most cost effective process that will be needed. Strategic management is defined as the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives.
To stay ahead innovation is critical – a software company like Valve needs to be the first with the new game or software, once someone else has developed it then your product has lost significant relevance in the market. This makes the environment unstable, the strategic focus must be about innovation. As mentioned in the case study, Valve believes formal structures “limits staff innovation potential” therefore, I believe they have structured their business to give their employees flexibility to maintain motivation which in turn encourages innovation. 3. What problems do you foresee that Valve may encounter as it grows beyond staff numbers of 300?
Urban Outfitters Continuing Case Study: The Business Environment What three barriers might a new entrant have to overcome when entering the retail apparel industry? Explain why they could be barriers? Three barriers that you would have to overcome when entering the retail apparel industry are location, start-up funding, and the availability of products. In choosing a location, you will want to consider several factors: population of the community, demographics, competition, and your own financial status. When choosing the location you would want to compare different locations and factors about each one including size, rent, parking, potential for growth and also the local ordinances and zoning laws.