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Principles of effective management
Effective management strategies
Effective and ineffective management
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At the moment, Access Closet Collection’s management is focusing on putting all modalities in place to develop an interactive ecommerce website that will support professionalism, customer service and swiftness in operation. The company shall employ proven marketing campaign tactics to expand its influence in the online retail market. Going forward, Access Closet Collection shall commit to weighing and reviewing feedbacks from current and prospective clients while leveraging on the word of mouth advantage from satisfied clients to build brand equity that endorses increase in business acceptance. In the future, Access Closet Collection may choose to expand its frontier of operation to other spheres influence within the industry. One of the avenues …show more content…
The company may anticipate exiting once its growth attracts opportunities for merger and acquisition scenario. The founder may therefore, welcome a suitable merger and acquisition scenario whereby the company is acquired by a larger company capable of funding its continued expansion locally. Similarly, the Company may instead undergo a merger that facilitates its increased market penetration through diversification, expanded geographic reach and increased contacts and resources. Also, on approaching peak capacity, the founder may likewise consider selling the company at a maximized profit. The founder may be looking at selling the company to the highest bidder. It is estimated that the owner would be able to sell the company for a range of three to eight times earnings before interest and taxes. It would also not foreclose the possibility of choosing to remain “as-is,” i.e., privately-funded and operated. The option to continue expanding may be salient. With large cash flows and profits, stakeholders may decide that it is in the company’s best interest to continue operations and expand accordingly. Therefore, the ultimate decision will depend upon market forces, the position of the management staff and other stakeholders in the …show more content…
Festive clothes (outfits) related to various events such as wedding, corporate parties, theme parties, films and photo shoots are witnessing increasing demand in the online clothing rental market. Online clothing rental portals offer a wide range of clothes which can be filtered by size, color, type of outfits, brands and prices. In addition to this, online rental service providers offer consultation services to customers though their contracted experts (designers, image consultants, and other fashion experts) via phone, or email in order to enhance customer
The company can improve its channel strategy to enhance its current performance in one way. The company’s website is too reliant in the physical stores. The website has photos of the physical store ostensibly to help customers to connect with it. This idea seems well founded. However, the target market for any company that operates an online shopping system is not local. It transcends geographical boundaries. The company needs to consider how it can make the online shopping experience authentic and complete for customers who may never visit any of its physical stores. A website makes a company a global player. In this regard, the company needs to expand its channel strategy to take into account an expanded potential market. This shift in strategy will increase the sales the company makes.
Nordstrom can continue providing their exceptional online experience and client focused approach using their online system by offering an unmatched online experience that copies their in-store customer service. This would allow Nordstrom to raise its revenue considerably as well as further improving their brand image. I will also discuss specific ways of successful execution, and the steps required to provide Nordstrom a stunning picture of how to execute strategy.
Gaughan, P. A., 2002. Mergers, Acquisitions, and Corporate restructuring. 3rd ed.New York: John Wiley & Sons, Inc.
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
“Crime myths are powerful constructions of reality because they speak to our personal values and beliefs and are steeped in rich symbolism, which reinforces those values and belief.” (Kappeler & Potter, 2004) Crime myths are created when a series of fictional events that are later altered so that they become social and political problems. The media plays a major role in the creation of crime myths they broadcast images and videos to go along with the crime myths, they also use social context that play on humans thought on the community seeing it as unsafe. Myths also contain some measure of economic conditions that then cause reactions by politicians to create new laws to prevent these myths from becoming major problems in the criminal justice system. (K&P, 2004) In order for a statement to be characterized as a crime myth, if the crimes instill fear and threaten the vast majority of society. (K&P,2004) Crime myths are made up of components that targets and identify of a distinct deviant population, they involve innocent and helpless victims, the emergence of brave and virtuous hearos ,comes as a threat to peoples established norms, values, or traditional lifestyles.
Since its introduction media has been influential in shaping the culture of society, for example films can create emotion for causes, define honor and even inspire crimes. Films in general have been noted as having the ability to rewrite history and influence societal norms The latter of these effects, society is just now recognizing as an adverse effect of the power of cinema, to move citizens to commit crimes. It can even be speculated that during the birth of American cinema films were significantly more influential on the mass population than ever. The motives of different acts of passion have often been linked
There is a range of criteria relevant for a decision of financing a new venture. To construct my list for the evaluation of a new company as an opportunity I have selected to refer to t...
The sign of moving products promptly from a designer’s table to the retail sales floor has swayed the whole global retail commerce and enticed rivalry. Customers value a “new look” that can be worn for this instant and assess the goods as a monetary fortune; not something that you will keep
Television has seen plenty of producers, writers and viewers attracted to crime and deviance. The crime drama series is not an unchanging structure but develops in an intricate relationship with audiences, media institutions, social contexts and other genres. Crime drama series’ structure often begins with some strains to the social order by criminal forces. Historically police officers or “cops” are good and the criminals are bad. However today we can notice “bent” cops and sometimes sympathetic villains.
When entrepreneurs plan their business future they will consider how they can increase their business size or profit in a short period. Entrepreneurs may consider growing their business or company by using a merger or an acquisition. These methods can be a speed up tool and a short cut to enlarge their business. (Burns, 2011) Also they can reduce competition, make it easier for entrepreneurs to think about the market and product development and risk reduction. Furthermore, some lesser – known companies can improve their firm’s image and market power by using merger and acquisition with larger firms. However, there may be risks associated with merger and acquisition related to lack of finance and time. (Burns, 2011) This essay will discuss more deeply the advantages and disadvantages of using mergers and acquisitions, showing how it can affect firms and market with the case study.
In a simple way, the retailer needs to create a warm, friendly and an approachable retail space to attract consumers.The visual displays is an imperative element of branding of any store. If the stock is presentable, it is bound to appeal to the shoppers. If the shoppers appreciate the store layout and product, they are likely to spend more time in the store, and in return reward the store with sales. Along with the products for sales, the staff, the décor, the store interiors, the trial rooms arrangement, the lightings and music also form an inclusive elements boosting store sales. (fibre2fashion, 2008)
Mr. Price is a fashion retailer; this report will focus on the clothing department. Mr. Price clothing aims to sell trendy fashion items at competitive
In society today the media’s has an extensive influence on the public by mediums such as the internet, television news, newspapers and radio. In addition, crime is often considered both a source of news and entertainment with such programs as CSI, NCIS and Criminal Minds being some amongst many others that also influence public perception on crime (Hayes & Levett, 2013). Evidence shows that the medias portrayal of crime can indeed affect the public’s perception although evidence will demonstrates that crime perception can be unique to each individual. Evidence shows that media reports have the potential to strongly influence people’s daily activities (Weatherburn and Indermaur, 2004). When the media reports on a crime it triggers an effect
To begin with, I shall look at what fashion is; it is a currently popular style or practice involving clothing, footwear or accessories. It mostly refers to the current trends in looks and dressing style of a person (Cumming 234). In most cases, fashion is confusedly related to costumes; when a person talks of fashion they are seen to mean fashion in terms of textile. Fashion is seen to originate from the Western world and it is copied by other places. In this paper, we shall look at how fashion affects lifestyles and the group of people who are affected most. The paper further investigates how media is used to transmit fashion from one region to the other. Although it has been seen to affect people’s lives many people have different perspectives on fashion and dressing.
In the world of Fashion, it is renowned that Fashion Show (footnotes/reference) is the biggest seasonal event of all times in the industry, which fashion designers showcase their most up-to-date collection during Fashion Week (ref). Fashion powerhouses such as Chanel, Louis Vuitton spending fortunes to create the most innovative and extravagant setting and the ultimate front row for their fashions shows,striving to etch (bof: show bussiness) in audience memory and creating a buzz (ref) in digital and social media. The dynamic of Fashion Show has been revolutionized with the existence of social media. It is no longer just about showing beautifully design garments for the seasons and venturing sales. In this new digital era, it is aimed to impress