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Hmv Decline

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Submitted By KevinSouth
Words 6345
Pages 26
Institution: University of Limerick
Programme of study: MA in Business Management
Year of Submission: 2013
Names: Kevin South, Kevin Doherty and Michael Griffin
Student ID’s: 13023543, 0751294, and 13051539
Module Title: Management Principles
MG6111
Lecturer: Marese Kelly

Table of Contents

Introduction Page. 1
Mission Statement Page. 1
Vision Statement Page. 1
Problem 1: Planning Page. 2
Strategic Planning 1.1 Page. 3
Contingency Planning 1.2 Page. 4
Problem 2: Lack of internal & external analysis during the planning process Pages. 5-9 Problem 3: Inadequacy of micro-environmental analysis while planning Pages. 10-13
Recommendations Page. 14
Recommendation 1.1: Strategic planning Page. 14 Recommendation 1.2: Contingency planning Page. 15
Recommendation 2: SWOT analysis Page. 16
Recommendation 3: Competitive environment analysis Page. 17
Conclusion Page. 18
Bibliography Pages: 19-20

Introduction:
In 1921, HMV’s first official store was opened in London’s Oxford Street by the very well-known British composer and conductor, Sir Edward Elgar. Through the years the company steadily increased in size but “it was really in the Eighties, through the combined catalyst of Liveaid in 1985 and the advent of the compact disc around the same time that HMV really took off as a leading retail brand with a national footprint” (HMV, 2013). In 2002, HMV was valued at one billion pounds on the stock market (Beeching, 2012). On 15 January 2013 HMV announced that it was to go into administration, putting over four thousand jobs at risk in the UK alone.

Management Problem:
From 1921 until the middle

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