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Business Decision Analytics Assignment

   

Added on  2021-02-19

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BUSINESS DECISIONANALYTICS
Business Decision Analytics Assignment_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
Business Decision Analytics Assignment_2

INTRODUCTIONDecision making is a very essential & necessary aspect in each and every business ororganisation. It totally depends upon the decision makers by which they can select their owncriteria with effective quantitative techniques which are mainly used to improve and correctoverall decision-making quality within the organization. In this report, JB Hi-Fi company isbeing chosen for assessment. It is an Australian retailer that is publicly listed specialize in sellingof consumer goods. Human Resource manager is going to focus on three aspects which are directcompetition, competition from online stores and employee well-being and ongoing job training.MAIN BODYDirect Competition with Harvey Norman:Harvey Norman is one of the famous online retailers of furniture, computers, beddings,communication and consumer electricals electrical products. This company is direct competitorof JB Hi-Fi company. It is very important for human resource manager of JB HI-Fi company totake effective measures to overcome the threat of competition. However, the estimated annualrevenue of Harvey Norman is 3.28 billion which is quite low from JB Hi-Fi company. Marketresearch is one of the best decision-making tools that is used by human resource manager totrack the competition in the market (Hair and et.al., 2015). Through market research, JB Hi-Ficompany is can identify the strength of competitors which is Harvey Norman as it helps tostrengthen their position. It is true that knowledge is power and it helps to understand the targetaudience. In addition to this, through market research they can also reduce the risk of investmentof the company. For example, launching of new product or services etc. Further, the best benefitthat the cited organisation can enjoy is to discover the strength and weaknesses of rivalry in themarket. It is because, it is very essential keep the eye open on the strategies and approaches ofthe rivalries but especially on direct competitive firms. Therefore, by conducting marketresearch, JB Hi-Fi company can reduce the threat of direct competition by having competitivestrategies and approaches to maintain the position (Ambler, Witzel and Xi, 2016). Competition from Online Sources: Online businesses are now become one of the popular business in Australia as creatingonline businesses is quite easier than compare to offline stores. JB Hi-Fi is facing huge threat ofcompetition from online sources such as TaoBao, Ebay and Amazon. These are the one of most1
Business Decision Analytics Assignment_3

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