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Employee motivation project literature review
Easy motivation for employees
Easy motivation for employees
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2. External Environment and Competitive Position
What are the driving forces of change in discount/variety store industry? How has Dollar General Corporation changed its strategy to address driving forces?
The driving forces of change for the discount/variety story industry are:
1. The customer
Acquiring new customers by offering convenient locations, easy to shop store formats and wide variety of merchandise at low prices
Building Customer loyalty by helping them save money everyday
2. Digital marketing – offering customers DG Digital Coupon program to more than 11,300 stores across 40 states (Dollar General, 2014).
3. Retailers have tools to become more efficient by leveraging process improvements and information technology
In
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They have the community and employees in mind. For customers this means helping them "Save time. Save money. Every day!" by providing clean, well-stocked stores with quality products at low prices. For employees, this means creating an environment that attracts and retains key employees throughout the organization. For the public, this means giving back to our store communities through our charitable and other efforts. In 2012, we, along with our vendors, customers and employees, donated millions of dollars through our various charitable initiatives. For shareholders, this means meeting their expectations of an efficiently and profitably run organization that operates with compassion and integrity (Farfan,
Introduction: Dollarama is a public retail company founded in the year 1992 by Larry Rossy. This company becomes well known all around Canada dealing in different consumer products. Now, Dollarama has its store in every province of Canada. It has multiple stores in Ontario only.
In 1978, when two executives Bernie Marcus and Arthur Blank received news they were fired from their jobs at Handy Dan Home Improvement Centers, they decided to take something negative and turn it into an opportunity. They put their experience and knowledge of the business and industry together and developed a business plan to create a chain of home-improvement warehouses. Their idea was to create a business which would be larger and more profitable than any of their competitors. So in 1979, one year after being fired, they acquired their funding and opened three stores in Atlanta which they branded with the name Home Depot. Today, Home Depot is the world’s largest home improvement chain and second-largest retailer after Wal-Mart, operating approximately 2,250 stores throughout the Americas (Parnell, 2014).
What are the external factors impacting Macy’s in the retailing business and Martha Stewart Living Omnimedia?
Recent news of Nordstrom’s implementation strategies towards expansion alludes to success for both their retail and credit business segments. Nordstrom has recently expanded internationally by opening stores in Canada. Diving into a new marketplace will help increase revenue and increase their market capitalization. In May 2016, they claimed to have achieved their milestone through development of their rewards program, which allows customers to earn benefits no matter how they choose to pay. As a result, Nordstrom claimed, “the company has approximately 6 million active Rewards customers, up nearly 30 percent from 4.7 million in the prior quarter.” (Nordstrom) Some of the primary reasons that people shop at Nordstrom are for great customer service, their no questions asked return policy, personal stylists, ambience, in-store amenities, and free alterations. Through a recent posting of a previous Nordstrom employee, Mike Schoultz, explains, “the Nordstrom marketing strategy uses customer experience design as a key difference maker. The company is perhaps as known as much for its experience design as it is for the merchandise it sells.” Nordstrom has a way of making their customers feel
Although I lived in San Diego for almost 9 years and have never heard of TacoTime, I agree with your assessment that it is a worthy investment based on the numbers. I’m assuming that you based your total investment required on the Traditional TacoTime restaurants located within shopping malls or strip centers. Those areas seem to be a bit cheaper overall because you only have to pay for the lease and renovation compared to a stand-alone store. I would also prefer those area for my first franchise because you can at least pull some quality data of the amount of customers to expect from other stores in the area. The only downside of the mall stores is that it appears they don't earn as much annually on average.
Baldwin Company seeks to use its core competencies to accomplish a viable competitive advantage. Management is aware that competitors cannot provide the same value to consumers that Baldwin can, therefore, Baldwin has developed core competencies by:
JCPenney overall has done a good job of trying to merge technology and retail together, but, moving forward, JCPenney should be mindful of its competitors as well as monitor and control feedback from its consumers. It was strategic to innovate the store experience, however, JCPenney needs to focus on satisfying the right target segments in order to become profitable again, which will avoid future plans from backfiring on the company.With that in mind, it is important that JCPenney pays attention to future trends in the retail industry such as the e-commerce trend. This will allow for the company to become more of a hybrid retailer that profitably meets consumers needs both online and in-store (Hartung, 2013). By aligning their techniques of differentiated marketing with sales promotion, the core of retail, JCPenney can better attract consumers and… .
Like ASOS, Oxfam has four main stakeholders, the first of which would be the customers. Oxfam’s customers are interested in reliable quality within the products that are being sold in the Oxfam stores. As Oxfam is known for selling books, clothing for men and women, second hand clothing and even furniture, there is always something for everybody. In addition to this, Oxfam is always receiving donated items from the public and so there are always products available for the customers which aids with the customers interest in product availability. The customers of Oxfam have influence over how much revenue is made and therefore how much the business is able to help those in need, this influence will help to make sure that Oxfam produces a good
The Allstate SWOT analysis consists of examining the organization’s strengths, weaknesses, opportunities and threats to its business environment. Moreover, the SWOT analysis examines the external environment which focuses on opportunities and threats. Furthermore, growth of global property and casualty insurance market is most likely to increase revenues, which could be considered and opportunity (“The Allstate Corporation SWOT Analysis, 2016). Allstate would benefit from the positive outlook of property and casualty market given the company’s extensive distribution channel, brand leadership, and customer access (“The Allstate Corporation SWOT Analysis, 2016). In addition, the organic growth from the property and casualty products may help
As the second-largest general merchandise retailer in the United States, they sell everything from beauty products to groceries to sporting equipment, so there is always something for everybody.
Established in 1908, General Motors happens to be one of the most popular companies in the automobile industry. GM is a multinational company with its presence being felt in 34 countries. Moreover, the company is also large in terms of its employee base having an employee base of more than 245,000 globally. GM is associated with a number of the biggest car manufacturers in the world including Vauxhall, Daewoo, Chevrolet, Cadillac, as well as Buick (Carmohn, 2014). Despite the impressive attributes, GM has recently witnessed some of the greatest challenges in the automobile industry. Therefore, the following section provides a description of GM in reference to the broader automotive industry in terms of size, complexity, organization in the industry, context, environment and conditions.
Sears, which later changed its name to Sears Holding after a merging with Kmart, is a department store. A department store is a retailer that has a complex and wide range of products that can appear in smaller specialty stores that is managed and organized by one company. Sears products range from tools and home appliances to apparel and jewelry, among other various products and services. The convenience of being able to buy such an assortment of merchandise paired with the assorted price ranges adds to the high levels of customer service that are incorporated in Sears Holdings.
Founded by James Cash Penney in 1902, J.C. Penney is one of the largest apparel, domestic retailers with approximately one hundred thousand employees in over one thousand retail locations in the United States (JCPenney, n.d.b). The company was established on the Golden Rule (also the name of its first store) to treat others as one would like to be treated (JCPenney, n.d.b). Although the organization was founded as a small business in Kemmerer, Wyoming, J.C. Penney is currently a thirteen billion dollars publicly-traded corporation that is headquartered in Plano, Texas (JCPenney, n.d.b). Therefore, to better understand its growth, J.C. Penney’s strategy, marketing, finance, human resources, and operations have to be evaluated.
Observation – In this competitive world, retailers needs to ensure that quality services are delivered to retain the customers and improve the services as per the customer convenience, accordingly strategy must be developed. To attract more customer retail sector must be well organized as there is personal interaction and physical aspects involved that affects customer perception and if customer are happy they are satisfied with services. To sustain in this global economy, retailers have to develop new strategies. Retailers must know to persuade
The SWOT analysis is a useful tool for identifying our personal strengths, weaknesses, opportunities, and threats to our plans and goals. According to a “Fuel My Motivation” article (2010), this analysis considers internal influences that can positively or negatively affect our ability to achieve our goals. The internal factors are our strengths and weaknesses. Also considered are opportunities and threats, which are external influences that can have a positive or negative impact on the ability to achieve our goals. I will share how the self-assessment instruments and self-exercises in this course have contributed to assessing and understanding my strengths and weaknesses. I will also discuss techniques I will use to leverage my strengths and understand my weaknesses. In addition, I will consider opportunities that I can take advantage of and the threats that can possibly impede my progress.