...do it for a reason. Sometimes businesses do not make a profit or a loss, they provide services to their customers. For example Vauxhall produces goods to sell, so they will be examining their profit or loss at all times. Solicitors provide legal service to help people meet their needs. They are not making a profit or loss. This is their purpose. What is franchise? A franchise is an agreement or license between two parties which gives a person or group of people (the franchisee) the rights to market a product or service using the trademark of another business (the franchisor). The franchisee has the right to market the product or service using the operating methods of the franchisor. The franchisee has the duty to pay the franchisor certain fees and royalties in exchange for these rights. The franchisor has the duty to provide these rights and support the franchisee. Franchising is not a business or an industry, but a method used by businesses for the advertising and distribution of their products or services. Both franchisor and franchisee have a strong fixed interest in the success of the brand and keeping their customers happy. What is sole trader? When setting out in business, you will be setting up the business on your own, using your own personal capital to get started. If this is the case you will be known as a Sole Trader, the sole trader is the simplest business to develop. What is public and private limited company? Types of limited company Most small businesses...
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...Moorman, and Gaurav Bhalla 94 Harvard Business Review January–February 2010 HBR.ORG Roland T. Rust (rrust@ rhsmith.umd.edu) is a Distinguished University Professor and the David Bruce Smith Chair in Marketing at the University of Maryland’s Robert H. Smith School of Business. Christine Moorman (moorman@duke.edu) is the T. Austin Finch, Sr., Professor of Business Administration at Duke University’s Fuqua School of Business in Durham, North Carolina. Gaurav Bhalla (gaurav. bhalla@knowledgekinetics. com) is the president of Knowledge Kinetics, based in Reston, Virginia. rketing SPOTLIGHT ON REINVENTION I Building Relationships Product-Manager Driven Many companies still depend on product managers and one-way mass marketing to push a product to many customers. magine a brand manager sitting in his office developing a marketing strategy for his company’s new sports drink. He identifies which broad market segments to target, sets prices and promotions, and plans mass media communications. The brand’s performance will be measured by aggregate sales and profitability, and his pay and future prospects will hinge on those numbers. What’s wrong with this picture? This firm—like too many—is still managed as if it were stuck in the 1960s, an era of mass markets, mass media, and impersonal transactions. Yet never before have companies had such powerful technologies for interacting directly with customers, collecting and mining information about them, and tailoring...
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...www.hbr.org SPOTLIGHT ON REINVENTION Because companies can now interact directly with customers, they must radically reorganize to put cultivating relationships ahead of building brands. Rethinking Marketing by Roland T. Rust, Christine Moorman, and Gaurav Bhalla • Included with this full-text Harvard Business Review article: 1 Article Summary Idea in Brief—the core idea 2 Rethinking Marketing Compliments of: Reprint R1001F SPOTLIGHT ON REINVENTION Rethinking Marketing Idea in Brief Companies have powerful technologies for understanding and interacting with customers, yet most still depend on mass media marketing to drive impersonal transactions. To compete, companies must shift from pushing individual products to building long-term customer relationships. The marketing department must be reinvented as a “customer department” that replaces the CMO with a chief customer officer, makes product and brand managers subservient to customer managers, and oversees customer-focused functions including R&D, customer service, market research, and CRM. These changes shift the firm’s focus from product profitability to customer profitability, as measured by metrics such as customer lifetime value and customer equity. This organizational transformation will uproot entrenched interests and so must be driven from the top. COPYRIGHT © 2009 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED. page 1 This article is made available to you with compliments...
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...E-business systems: infrastructure of hardware and software | 14 | 5. E-Logistics: Supply Chain & Procurement | 17 | 6. E-Security: Protecting and e-business & its infrastructure | 19 | 7. E-Marketing: How to push your e-commerce business using marketing tools online. | 21 | 8. E-CRM: Managing customer relations online | 24 | 9. The future of e-business | 29 | Conclusion | 31 | Bibliography | 34 | Introduction: Through this assignment I will be discussing the use of e-commerce in modern retailing. This essay aims to explore: What e-commerce is, the infrastructure needed to establish an e-business and the wider impact of e-commerce on the traditional business and retail environment. These aims will outline the main effects of e-commerce on a business. These will be achieved through: * Outlining the origins of e-business * Assessing the external impact of e-commerce on the environment & traditional retailing. * Examining the implementation and sustainability of an e-commerce business: Systems, Structures & Costs. * The impact of e-commerce on the logistics of a business * Analysing the use of e-marketing within this environment. * Discussing the need & use of customer relationship management (CRM) in an e-business. * Analysis of any future growth & development of e-commerce in business and retail. These objectives outline the main areas of this essay & subjects for discussion in an...
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...Strategic Management Strategic Management Philip Sadler First published in 1993, authors James C Craig and Robert M Grant Second edition published in Great Britain and the United States in 2003 by Kogan Page Limited, author Philip Sadler Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licences issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers at the undermentioned addresses: 120 Pentonville Road London N1 9JN UK www.kogan-page.co.uk 22883 Quicksilver Drive Sterling VA 20166–2012 USA © James C Craig and Robert M Grant, 1993 © Philip Sadler, 2003 The right of Philip Sadler to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. ISBN 0 7494 3938 6 British Library Cataloguing in Publication Data A CIP record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Sadler, Philip, 1930Strategic management / Philip Sadler. – 2nd ed. p. cm. – (MBA masterclass series) Rev. ed. of: Strategic management / James C. Craig. 1st ed. 1993. Includes bibliographical references...
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...Introduction ALDI is a German Based Discount Supermarket Chain. Albrecht Discount is the full form of ALDI. The Supermarket Chain consists of two main groups. ALDINORD and ALDI SUB. However both groups are independent in their operations and work within the specific market grounds. The individual groups were originally owned and managed by brothers Karl Albrecht and Theo Albrecht. The company has transformed from a small business to one of the most successful and valuable retail business chain with an annual estimated turnover of 53 billion Euros, over 9,000 stores in 18 countries and around 100,000 employees around the world. ALDI operations are mainly based on the limited Assortment Concept - The high quality range of goods sold in the store was initially limited to a basic selection of goods to be purchased in large quantity, sold at realistic prices and presented in simple way. At ALDI, everything from building shop, selecting suppliers, locations and selling goods, is done to make possible considerable savings with the discount always passed on to customers in the end price. ALDI have introduced Cart Rental System. Customer need to put one coin in the grocery Cart and gets back the coin when the Cart is returned. This mechanism will cut off the need to hire employees whose job is to retrieve the grocery cart. The grocery industry has been revolutionized with a unique business model by ALDI that enable them to provide the highest class product at the lowest prices. ALDI...
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...DRAFT The Waitrose Modular MBA in Retailing Management Waitrose Stores and its Key Management Decisions Waitrose A Guide for Trainee Graduate Retail Managers and Middle-Level Managers March 2003 by http://www.andidas.com/ Contents: Abstract Terms of Reference Introduction UK Grocery Market Waitrose History Waitrose Strategy Waitrose Location Map: Waitrose Stores in the UK PEST Analysis, Grocery Industry Waitrose Ansoff Matrix Waitrose SWOT Analysis Importance of Store Location Site Evaluation Market Segmentation Introduction to Own Brands Own brands pricing and economies Popular Own Brand Categories Central Control Local Variation UK Online Market Online Target Market Benefits of Online Shopping Technical Issues Success Evaluation of the Online Activity Conclusion Bibliography & References Appendix 3 3 3 4 5 5 6 7 8 10 11 13 17 17 20 21 22 21 22 24 25 26 26 28 28 29 30 ff 2 Waitrose - Key Management Decisions http://www.andidas.com/ Abstract Waitrose’s differentiation strategy, and its competitive industry were analysed. The selection of the location can be identified as one of the most influential decisions in the life of a store. Various methods are described in order to help identify the most suitable location. Factors influencing the selection of the Waitrose in Kingston are identified. Own brands are important products because they give retailers high level of control of these products and generally have a higher profit margin. The merits and...
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...DRAFT The Waitrose Modular MBA in Retailing Management Waitrose Stores and its Key Management Decisions Waitrose A Guide for Trainee Graduate Retail Managers and Middle-Level Managers March 2003 by http://www.andidas.com/ Contents: Abstract Terms of Reference Introduction UK Grocery Market Waitrose History Waitrose Strategy Waitrose Location Map: Waitrose Stores in the UK PEST Analysis, Grocery Industry Waitrose Ansoff Matrix Waitrose SWOT Analysis Importance of Store Location Site Evaluation Market Segmentation Introduction to Own Brands Own brands pricing and economies Popular Own Brand Categories Central Control Local Variation UK Online Market Online Target Market Benefits of Online Shopping Technical Issues Success Evaluation of the Online Activity Conclusion Bibliography & References Appendix 3 3 3 4 5 5 6 7 8 10 11 13 17 17 20 21 22 21 22 24 25 26 26 28 28 29 30 ff 2 Waitrose - Key Management Decisions http://www.andidas.com/ Abstract Waitrose’s differentiation strategy, and its competitive industry were analysed. The selection of the location can be identified as one of the most influential decisions in the life of a store. Various methods are described in order to help identify the most suitable location. Factors influencing the selection of the Waitrose in Kingston are identified. Own brands are important products because they give retailers high level of control of these products and generally have a higher profit margin. The merits and...
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...Strategic management accounting |by Mark Lee Inman | | |01 Nov 1999 | | |Strategic Management Accounting has been defined as "a form of management accounting in which emphasis is placed on information which| |relates to factors external to the firm, as well as non-financial information and internally generated information." | |Back in 1981, Ken Simmonds, probably the pioneer writer on the subject, developed the above definition. He saw it as the collection | |of management accounting information about a business and its competitors for use in developing and monitoring the business strategy.| |The emphasis was placed upon relative levels and trends in real costs and prices, volume, market share, cashflow and stewardship of | |the resources available to the business. | |More recently (1994) Professor Bromwich pointed out that adding the strategic perspective to traditional management accounting | |required the role of accounting to extend in two directions. First, costs need to be integrated into strategy through strategic cost | |analysis, and thus align costs with strategy. Secondly, to ascertain, albeit in a fairly general...
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...Strategic Management Patricia Murtagh The University of Sunderland © 2014 The University of Sunderland First published January 2014, revised February 2014 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without permission of the copyright owner. While every effort has been made to ensure that references to websites are correct at time of going to press, the world wide web is a constantly changing environment and the University of Sunderland cannot accept any responsibility for any changes to addresses. The University of Sunderland acknowledges product, service and company names referred to in this publication, many of which are trade names, service marks, trademarks or registered trademarks. All materials internally quality assessed by the University of Sunderland and reviewed by academics external to the University. Instructional design and publishing project management by Wordhouse Ltd, Reading, UK Copyright © 2014 University of Sunderland ii Contents vi Introduction Unit 1 1 2 5 7 Concepts, models and theories 20 Introduction 2.1 A comparison of concepts, models and theories relating to competitive advantage 2.2 An evaluation of concepts, models and theories relating to strategic choice Case Study: Ciba Vision 2.3 Concepts, models and theories relating to strategic evaluation Case Study: The University of Exeter...
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...Annual Report and Annual Report and Financial Statements Financial Statements 2015 2015 “ think the store is I genuinely trying to improve performance and there is evidence of progress.” Ipswich “ hen I shop in Tesco W now there is an overall better feel.” “ lease keep the P prices low, the shelves well stocked and the tills manned with enough staff.” “ ontinue to work on customer C service – it makes a big difference.” Newton Abbot Aylesbury “ he store is of vital importance T to the local community, long may it continue to be so.” Maldon London In this report: Strategic report Chairman’s statement CEO introduction Three priorities Our business model Key performance indicators Financial review Environmental and social review Principal risks and uncertainties Corporate governance Financial statements Other information Page 2 3 5 8 10 12 18 22 26 72 146 FINANCIAL HEADLINES £69.7bn £1.4bn £961m £(6.4)bn 9.42p £(8.5)bn Group sales Group trading profit Underlying profit before tax Statutory profit/(loss) before tax Underlying diluted earnings per share Net debt (13/14: £70.9bn) (13/14: £3.3bn) (13/14: £3.1bn) (13/14: £2.3bn) (13/14: 32.05p) (13/14: £(6.6)bn) The champion for customers Our business was built with a simple mission: to be the champion for customers – to help everyone who shops with us enjoy a better quality of life...
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...Managing the internationalization process Learning outcomes After reading this chapter, you should be able to: ➤ Understand the motives for internationalization. ➤ Apply the theories underpinning the internationalization process. ➤ Explain the Psychic Distance and Born Global concepts. 5 ➤ Advise a multinational firm on choosing an appropriate entry mode for internationalization. ➤ Advise a multinational firm on de-internationalization. 148 Global strategic development Opening case study Internationalization of a French retailer—Carrefour In 1960, Carrefour opened its first supermarket in France. In 1963, Carrefour invented a new store concept—the hypermarket. The hypermarket concept was novel, and revolutionized the way French people did their shopping. It moved daily shopping from small stores to enormous stores where customers find everything they want under one roof, in addition to selfservice, discount price, and free parking space. The first Carrefour hypermarket store was established at the intersection of five roads—hence the name, Carrefour, which means ‘crossroads’. Carrefour is the leading retailer in Europe and the second largest worldwide, with Exhibit A International development of Carrefour Year Country and mode of entry No. of stores (2009) 1969 1973 1975 1982 1989 1991 1993 1993 1994 1995 1996 1997 1997 1998 1998 2000 Belgium—Carrefour’s first hypermarket outside France Spain Brazil—Carrefour’s first hypermarket in the Americas Argentina Taiwan—Carrefour’s...
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...ESSENTIALS OF MARKETING THIRD EDITION JIM BLYTHE Essentials of Marketing ii Marketing Planning: principles in practice We work with leading authors to develop the strongest educational materials in marketing, bringing cutting-edge thinking and best learning practice to a global market. Under a range of well-known imprints, including Financial Times Prentice Hall, we craft high quality print and electronic publications which help readers to understand and apply their content, whether studying or at work. To find out more about the complete range of our publishing please visit us on the World Wide Web at: www.pearsoned.co.uk Last A Head on Spread 000 Jim Blythe University of Glamorgan Essentials of Marketing Third Edition Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk First published under the Financial Times Pitman Publishing imprint 1998 Second edition 2001 Third edition 2005 © Financial Times Professional Limited 1998 © Pearson Education Limited 2001, 2005 The right of Jim Blythe to be identified as author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written...
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...Retailing in the 21st Century Manfred Krafft ´ Murali K. Mantrala (Editors) Retailing in the 21st Century Current and Future Trends With 79 Figures and 32 Tables 12 Professor Dr. Manfred Krafft University of Muenster Institute of Marketing Am Stadtgraben 13±15 48143 Muenster Germany mkrafft@uni-muenster.de Professor Murali K. Mantrala, PhD University of Missouri ± Columbia College of Business 438 Cornell Hall Columbia, MO 65211 USA mantralam@missouri.edu ISBN-10 3-540-28399-4 Springer Berlin Heidelberg New York ISBN-13 978-3-540-28399-7 Springer Berlin Heidelberg New York Cataloging-in-Publication Data Library of Congress Control Number: 2005932316 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. Springer is a part of Springer Science+Business Media springeronline.com ° Springer Berlin ´ Heidelberg 2006 Printed in Germany The use of general descriptive names, registered names, trademarks, etc. in this publication does not...
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...environment that prevailed, Wal-Mart had reported sales growth of 11%, amounting to $6.4 billion. The company’s associates were indeed doing the Wal-Mart cheer in faraway places like Germany, South Korea, China, and the United Kingdom. In three decades, it had grown from its rural Arkansas roots to become the world’s largest company, and quite possibly the most powerful retailer. The meteoric growth did bring with it a fair share of problems. At a macro level, there had always been questions about the ability of Wal-Mart to sustain the pace of growth it had demonstrated in recent years. Once the company vaulted over the $200 billion level in annual sales, it was clear that incremental growth would be challenging. There was a nationwide backlash against big-box retailers, and Wal-Mart was front and center in that controversy. Some of the upstart chains such as Dollar General were gearing up to nip at the heels of Wal-Mart. They claimed that customers felt lost inside the cavernous stores of Wal-Mart and that they would gladly shop at Dollar General stores, which, although much smaller, offered comparable low prices. The emerging markets that held a lot of promise were being bitterly contested by other major players such as Carrefour, Metro, Auchan, Ahold, and Tesco. Since many of these competitors had moved into the international marketplace long before Wal-Mart, there was an experience curve handicap that Wal-Mart had to contend with. From an operational viewpoint, the suppliers...
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