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Business Report of Discount Superstores Group

   

Added on  2021-06-17

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Business Report of Discount Superstores GroupAssessment 2Student Name:Student ID:Unit Name: Think Big Unit Code: MGMT20143Date Due:Professor Name:Page | 1
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Executive SummaryEvaluating an entrepreneurial venture to identify its key challenges requires identifying problemsfaced with its business or customers. In the current scope of evaluation Discount SuperstoresHoldings Australia’s case is analysed. Though the business is fairly profitable, there have beensome challenges faced in its strategic processes applied. The business applies Pareto analysis formaintaining stock of various products at its stores. This has generated customer dissatisfaction;hence keeping a broader spectrum of products is the only way out of this challenge. In order toestablish the newly made business plan, components of its business model canvas need to be re-evaluated and restated for better application of its business plan. A new business model has beenidentified along with evaluation of its feasibility has been conducted effectively. Page | 2
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Table of ContentsExecutive Summary.........................................................................................................................21.0 Part A.........................................................................................................................................41.1 Introduction............................................................................................................................41.2 Problem Identification............................................................................................................41.3 Benefits Generated.................................................................................................................51.4 Proposed Business Model......................................................................................................61.5 Critical Success Factors.........................................................................................................71.6 Evaluation of Feasibility........................................................................................................81.7 Conclusion.............................................................................................................................82.0 Part B: Quality of Contribution and Collaboration of each team member..............................103.0 References Lists.......................................................................................................................114.0 Appendix..................................................................................................................................13Page | 3
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1.0 Part A: Idea Generation1.1 IntroductionA business idea is generated by brainstorming several ideas and then leveraging it inaccordance to skill set of its stakeholders (Kiel, 2014). An essential component of a businessmodel affects its influence on the business and determines its critical success factor. The scope ofthis current analysis concerns Discount Superstores Group Holdings Australia Pty Ltd. TheCompany came into being post liquidation of Retail Adventure Company that owned severalbrands including Crazy Clark’s and Sam’s Warehouse. The Company is a privately held retailCompany based across 143 total locations. The Company had been operating on sustainableprofitability; hence the scope of analysis here develops factors that have led to its sustainablegrowth (Obschonka, Silbereisen & Schmitt-Rodermund, 2011). Moreover, evaluation of currentchallenges faced by its customers is analysed to arrive at reasons that the Company hasaccommodated innovation. An idea related to innovation is generated along with feasibility ofthat idea and its execution is entailed. 1.2 Problem IdentificationDiscount Superstore is an extremely profitable venture that caters to varied types ofproducts for tis customers. The brand within a short period of time had been able to extend itsprofitability to become a well-renowned brand within the country (Demil et al., 2015). Brandloyalty of the Company is also considerably high but it faces problems in catering to itscustomers. Its Project Simplify is a long-term strategic plan that was inherited from RetailAdventures. In this current strategic plan, the Company aims to focus at Pareto Principle forretail business. Unlike other retail businesses where the focus is on sales per square meter orPage | 4
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