This report compares the financial management and business strategies of Telstra and JB Hi-Fi, two companies in the service and retail industries in Australia. It discusses their products, consumers, company strategies, vision and mission, and financial aspects.
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Running head: Business of Reports Business of Reports Name of the Student Name of the University Author Note
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1 Business of Reports Table of Contents Introduction................................................................................................................................3 Overview of the Company.........................................................................................................3 Product of the Company.............................................................................................................3 Consumer of the Company.........................................................................................................5 Company Strategy in Business...................................................................................................5 Vision and Mission of Company................................................................................................6 Financial Aspects of Company..................................................................................................7 Conclusion..................................................................................................................................8 Reference and Bibliography.......................................................................................................9
2 Business of Reports Introduction Financial Management help the company to manage its finance more properly in business. Each company is able to maintain a proper structure of finance as that will have the company to carry its business activities more easily in the business. Company have to check each section of business so that it will able to carry all the business activities more easily and effectively. The report show comparison between two different industry as how each company is able to perform in the industry as well as how the company is able to gain more amount of profit in the business activities. The report show about the different aspects of the company as it show how the company is able to perform its activities in business and how it able to carry its operation more easily and effectively. Overview of the Company The report is based upon two industry which are service and retailer industry, the company are Telstra and Jb hi-fi. Telstra is an Australia based company and deal in service sector as it an leading telecommunication and technology company which provide a large variety of communication service to the society (Telstra.com.au. 2019). It able to hold a huge market in the country and also able to carry its business activities more easily and effectively. JB hi-fi is an Australian based company which deals in retail section and deals in consumer goods (Member.afraccess.com 2019). It carries its business operation mainly in Australia and New Zealand. The company is been found in 1974 by Keilor East, Victoria, Australia and it is one of most famous company in Australia.
3 Business of Reports Product of the Company Each company is able to deal in different kind of product as the company have to deal with th e consumer of specific need so to overcome that each company have to be specific in regards of the products. As per Telstra is concern it is an telecommunication industry so its deal with all the communication need of the consumers as it deal in high network service so the consumer will able to communicate easily as the company say that it can able help the customers to reach easily (Telstra.com.au. 2019). It promise its customers that the network will have a minimum problem so the company will able to carry its business activities easily without having any interruptions in network. It also provide different kind of Mobility Solutions to its customers as it help the company to make the communication more better by helping them to connect with its employee, shareholder and customers easily.As with the help of Telstra mobility solution company can able to communicate easily with its customer even in remote area the communication easily in the business. As the company can make a business application which can help them to provide all the required information to the customers more easily and also help them to carry its business operation easily and effectively. It also provide cloud service to companies so it is concern company is able to customised the cloud service as per the need of the company so that it can help the company to carry its business activity in company. The expert of the company help the consumer to know about the uses of cloud so that the company can have a better utilization of resource in the company. JB hi-fi is consumer-based company so it deals with all kind of product which is required by the consumer in their daily life. The company have a variety of product as it deal inhouseholdproduct,electronicproductandmanyothertypeofproduct (Member.afraccess.com 2019). The company have all kind of electronic product so the consumer can get a proper variety of the product from which it will able to select as per their
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4 Business of Reports need and preference. Company should able to have all kind of brands from premium to normal so that each kind of customer will able to complete their need and expectation from the company business. It also deal in household products which consists of many small head and it able to satisfy consumer need easily. Consumer of the Company Each industry have different kind of consumers, as per the operation which is carried by the company it able to get that type of customers. In Telstra as company is a big telecommunication industry so it have mostly big companies as its consumers. As the company is able tom provide business application, customized application so this signify that the company is able to have huge cost of product and the service which is provided by the company can be only utilized for big business house and organization (Telstra.com.au. 2019). The customer are usually big companies as the consumer are paying so huge amount of money for there service so this help the company to earn more amount of revenue from carrying its business activities. JB-hifi is a consumer-based company and deal in household product so the main customer are normal public, so it have no specific of customers as the service which is given by the company can be used by any individual (Member.afraccess.com 2019). Company sale small quantity of product to many customer and able to earn more amount of revenue in the business. Company Strategy in Business Telstra has changed in its strategy so that it will able to gain more amount of revenue to company. As per the company it has made a proper and new infrastructure business unit that will help the company to maintain the quality and performance of the company. As it helps the investor to take proper decision in regards of company financial statement.It also
5 Business of Reports have changed the customer plan so that the customer will able to get proper experience with the company. It able to control the price of the company product so that it will able to get more customer in the business (Telstra.com.au. 2019).It have increase in the production program by 1 billion to billon cost so that it can able to produce more quality product in the company. Company has also done reduction of employee by 8000 and also did a reduction in layer of management by 2-4. It also had monetisation of asset up to 2 billion so that it can able to create proper service in the business. JB-Hifi has also changed it business strategy so that it will able to make its loss turn into profit so that the company will able to increase the revenue as well as it will able to make more number of customers in the business. As per the CEO of the company, the company is having huge losses and the reason of the same is that, many customers are shifting from retail purchasing to online store as a result it able to make effect on company overall profit. The company is going to carry market research so that the company will able to know about the opinion of customer in regards of online shopping as well as how the consumer is applicable for retail shopping (Member.afraccess.com 2019). Company after get proper analysis of consumer feedback and able to make necessary changes in the same as this will help the company to gain more amount of revenue in company business. Vision and Mission of Company Vision and Mission of company help them to reach the goals and objective. This are the objective which the company have to achieve by carrying its business activities. Telstra is having the mission to reach one of the fastest telecommunications as also to reach it values, as the company consider itself not only basic of purpose but also upon the values. Company stands its business upon 5 core values that help them to carry its business operation more easily and effectively (Telstra.com.au. 2019). The value are as Company care
6 Business of Reports for its customers, it believe in leadership as work better, work together, Each person should have trust upon each other, it should make company strategy more simple and also that the company employee is able to have courage will carrying its business activities. So as the company is clear about value than only it will able to meet up with proper amount of strategies as this will help them to make proper strategy as per company financial position. JB-Hifi is also having its mission to expand its business operation to many place so that it can able to have more amount of revenue in the business (Member.afraccess.com 2019). As per the company is concern it should have a proper mission and vision so that it can reach its customer more easily and effectively. Financial Aspects of Company Each company performance is judge by the profit it is earning from the business as it will help the user to know about each aspects of the company. Each company should able to have a finance strong as if the company is having a proper finance than only it will get proper amount of investment by the investor. Telstra is concern it is having an down fall in overall profit as in 2017 it was having an profit of 3874 but in 2018 it is having 3529 so this signify that the company is not able to meet the proper amount of business, as a result it is not having an increase in profit of company (Telstra.com.au. 2019). So company should have a proper strategies which will help it to get more amount of profit in business and also help them to expand the business more easily and effectively. JB-Hifi is concern from its annual report it can see that the company is having an increase in profit as in 2017 it was having 172.4 but in 2018 it is 233.2 so this signify that the company is able to implement the strategies as a result company is having an increase in overall profit of the company (Member.afraccess.com 2019).
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7 Business of Reports In the above two paragraph it can see about the company financial position so by comparing the both it can be said that JB-Hifi is having more profit in business in compare to Telstra as the company is able to have an increase of profit in 2018 from a good margin whereas Telstra is not able to have an increase in profit but it get deducted in overall profit, so this signify that the company is not able to have a proper strategies to carry its business activities in company business. Conclusion The report concludes about how financial management help the company to manage their finance properly and effectively in its business. Each company should able to maintain the finance in its business so that it can able to have proper flow of business activities. The report deals with two industry as service industry and retailer industry. The company are Telstra and JB-Hifi which are listed in Australia and carry its activities in many countries. The report concludes upon the company background as the origin of the company, than its show about the product as Telstra deals in tele-communication and JB Hifi deals in consumable goods. It also who are the potential customers in each company and how the company is able to meet all the requirement of the customer easily and effectively. It also show different marketing strategies which the company has made in order to gain an advantage in the market as Telstra is able a restructure its operation by making more business unit and JB-Hifi is the one who had conducted different survey which will help them to know about the consumer behaviour in regards of online and retail marketing. Lastly it conclude about the company mission and vision of company so that it can able to know about how the company is able to manage its business operation in regards of vision and mission of company.
8 Business of Reports Reference and Bibliography Banerjee, B. (2015).Fundamentals of financial management. PHI Learning Pvt. Ltd.. Burtonshaw-Gunn, S. A. (2017).Risk and financial management in construction. Routledge. Edvardsson, B., Klaus, P., Gummesson, E., Kuusela, H., & Närvänen, E. (2014). Reinventing marketingstrategybyrecastingsupplier/customerroles.JournalofService Management. Finkler, S. A., Smith, D. L., & Calabrese, T. D. (2018).Financial management for public, health, and not-for-profit organizations. CQ Press. Ho, J. W., Jung, Y. L., Liu, T., Alver, B. H., Lee, S., Ikegami, K., ... & Parker, S. C. (2014). Comparative analysis of metazoan chromatin organization.Nature,512(7515), 449. Johnston, M. (2017).Political corruption: readings in comparative analysis. Routledge. Karadag,H.(2015).Financialmanagementchallengesinsmallandmedium-sized enterprises:Astrategicmanagementapproach.EMAJ:EmergingMarkets Journal,5(1), 26-40. Lusch, R. F., & Vargo, S. L. (2014).The service-dominant logic of marketing: Dialog, debate, and directions. Routledge. Member.afraccess.com.(2019).Retrieved3August2019,from http://member.afraccess.com/media?id=CMN://3A498121&filename=20180813/ JBH_02008547.pdf Moutinho, L., & Vargas-Sanchez, A. (Eds.). (2018).Strategic Management in Tourism, CABI Tourism Texts. Cabi.
9 Business of Reports Pollitt, C., & Bouckaert, G. (2017).Public management reform: A comparative analysis-into the age of austerity. Oxford University Press. Renz, D. O., & Herman, R. D. (Eds.). (2016).The Jossey-Bass handbook of nonprofit leadership and management. John Wiley & Sons. Telstra.com.au.(2019).Retrieved3August2019,from https://www.telstra.com.au/content/dam/tcom/about-us/investors/pdf%20F/2018- Annual-Report.pdf Telstra.com.au. (2019). Telstra - Purpose & values - Our company. Retrieved 3 August 2019, fromhttps://www.telstra.com.au/aboutus/our-company/present/purpose-values Zeriti, A., Robson, M. J., Spyropoulou, S., & Leonidou, C. N. (2014). Sustainable export marketing strategy fit and performance.Journal of International Marketing,22(4), 44-66. Ziegenhain, C., Vieth, B., Parekh, S., Reinius, B., Guillaumet-Adkins, A., Smets, M., ... & Enard,W.(2017).Comparativeanalysisofsingle-cellRNAsequencing methods.Molecular cell,65(4), 631-643.