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Issues In Retail Sector - Case Study on Morrison

   

Added on  2020-01-23

11 Pages3268 Words68 Views
Business Research

Table of ContentsINTRODUCTION ...............................................................................................................................3LITERATURE REVIEW ...................................................................................................................4RESEARCH QUESTIONS .................................................................................................................7Aims and objectives ........................................................................................................................7Questions.........................................................................................................................................7RESEARCH METHODS ...................................................................................................................7REFERENCES ..................................................................................................................................10

Title: To investigate the issues facing by the companies operating in the retail sector: A study ofMorrison's INTRODUCTION Background: In the present era, retail sector of UK is facing stiff competition which in turnclosely influences the productivity and profitability of the firm. Moreover, in retail, taste andpreferences of the customers are getting changed with the very high pace. In this, business unit canattain success only when it offers highly unique or innovative products to the customers. Along withthis, there are several other factors such as technology, pricing strategy etc. have high level ofimpact on the growth ad success of business organization. In this, company can attain success onlywhen it develops suitable strategic and policy framework by evaluating all the issues (Xenias andet.al., 2015). The present report is based on Morrison which is one of the leading Britishmultinational retailer of UK. Hence, it will describe the issues which are facing by the company.Along with this, it will also present the impact of such key issues on organizational growth andperformance. Rationale of the study: The rationale behind the selection of such topic is that retail businessorganization can develop suitable strategies only when they have idea about the market trend. Now,customer preferences towards food, clothing and other products are changing with the very highpace. Further, competition is another biggest issue that have impact on the profit margin and overallperformance of the firm (Ivanauskiene and Auruskeviciene, 2015). Hence, there are several issueswhich are highly associated with the growth and performance of an organization. Due to this, issueswhich are facing by the retail companies in the main issue now. Thus, such issue will beinvestigated by the scholar through the qualitative investigation. Researcher will highlight the keyissues and their impact on organizational performance by reviewing the mindset of the managers ofMorrison. Significance of the study: Study which will going to be conducted by the researcher ishighly significant for the business organization and other scholars. Moreover, by using such studyMorrison can undertake strategic action which may result into the enhancement of the productivityand profitability. Along with this, by keeping the outcome of such study retail business

organizations can frame suitable or competent strategic and policy framework. Further, otherscholars can also undertake such investigation to gain understanding about the key issues of retailand its impact on others. LITERATURE REVIEW Theme 1: Key issues which are facing by UK retail companiesAccording to the view points of Jones, Comfort and Hillier (2016) retail businessorganizations operating in retail are facing issues in relation to the management of change and risk.Earlier, customers gave more preferences to the tastier food. On the other side, now people prefer topurchase the product which is health and hygienic. Now, customers awareness towards the goodhealth is increased significantly and they lay more emphasis on purchasing the high qualityproducts. In this, changing needs and preferences is one of the main issues that are facing by theretail companies. Moreover, if business unit fails to offer high quality and healthy food to thecustomers then it may result into dissatisfaction among them. This in turn highly affects theproductivity and profitability of the firm in the negative direction. In retail, customer satisfactionand loyalty is one of the main factors which is required for attaining success. However, on the critical note, Monios (2015) said that now almost all the retail companiesoffer hygienic food to meet up the demand of the customers. In the strategic business environmentretail firms can build and sustain competitive edge over others only when they think out of the box.In the retail industry, all the major companies are offering similar kind of products which have littleor no difference. Due to this, business organizations are facing problems in relation to attracting thecustomers (Challenges Facing Today's Retail Industry, 2016). Moreover, once customers becomeloyal to specific company then they prefer to purchase product from it rather than others. In thisregard, business enterprises can attract the potential customers only when they offer somethingunique or innovating. Thus, retail units are facing problem in relation to identifying the uniqueproduct which helps them in gaining competitive edge over the rival firms. Xenias and et.al., (2015) found from their investigation that companies exist in the retailsector are facing problem in relation to retaining and attracting the talented workforce. In the recenttime, employees prefer to work with the organization which offers high level of flexibility and other

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