Business Research Plan John Lewis

Added on - 21 Apr 2020

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Running head:BUSINESS RESEARCH PLANBusiness Research Plan: John Lewis PartnershipName of the student:Name of the university:Author’s Note
1BUSINESS RESEARCH PLANTable of Contents1. Introduction......................................................................................................................22. Literature Review (Background of the research).............................................................22.1 Strategic business and marketing plan development for John Lewis Partnership.....22.1.1 Strategic business analysis..................................................................................22.1. 2. Marketing plan development............................................................................43. Research Aims/Objectives...............................................................................................74. Research Methodology....................................................................................................74.1 Research philosophy..................................................................................................74.2. Research approach....................................................................................................74.3 Data collection method..............................................................................................74.4 Research design.........................................................................................................85. Sampling..........................................................................................................................86. Accessibility...................................................................................................................87. Ethical Issues..................................................................................................................98. Significance....................................................................................................................99. Deliverables....................................................................................................................910. Required Resources.....................................................................................................1011. Implementation Time Table (Gantt-like chart)............................................................1112. Conclusion..................................................................................................................14References..........................................................................................................................16
1. IntroductionFrom analyzing the issues of John Lewis Partnership it has been defined that, thecompany is facing many issues with their operational and functional activities. In order to gaincompetitive advantages from the market place detail market analysis is very much important.The project risk and uncertainty could be minimized or reduced through the adoption of propermanagement business strategies (Lau 2016).It has been defined that in order to satisfy thebusiness requirements John Lewis Partnership is unable to generate and access enough amountof fund and investment. The business liquidity requirements those are apparently managed withthe help of both short term and long term cash flow forecasting are strictly associated to thetrading patterns of the company.However, for resolving both funding and liquidity issues, the funding levels are needed tobe managed. With the help of interest rate derivatives the fluctuations of the interest rate aremanaged. A foreign currency risk is another risk that exchanges the rate of arising fromsupplier’s partnership. The other risk associated to business background of John LewisPartnership (JLP) include financial risk, capital risk, energy risk, insurable risk, managingchange risks etc. These business risks are needed to be resolved by the management head of thecompany so that it could get enough competitive advantages and measurable revenue structure atthe same time. The main issue of the company implies that it is unable to make balanced scoresheet between the project investment input and expected outcome.2. Literature Review (Background of the research)2.1 Strategic business and marketing plan development for John LewisPartnership2.1.1 Strategic business analysisPerformance evaluationIt is stated byKamthunzi (2014) that success can be measured in both financial figures aswell as softer measures. As non-financial indicators helps in affecting the profitability of thefirm, it is quite important to evaluate the accounting driven performance as well as their related
3BUSINESS RESEARCH PLANperceptions of various stakeholders. According toOuma and Gichinga (2017), the number ofWaitrose the John Lewis department stores has grown from the year 2010 and therefore themanaging director of the company is predicting that the company will expand its double till theyear 2023. The future strategies are basically dependent on the expansions but it is analyzed thatcompetitors mainly outperforms in terms of its size in all he stores of UK. However, it is mainlyreported that the revenue growth within the organization has outperformed the major competitorsin context to sales growth in the recent years. It is found that despite of the rising profits, thefierce competition of price ahs generally affected as well as adversely impacted Waitrose’sreturns.Success factorsThere are number of business reasons that help in succeeding John Lewis Company.The factors include:Ownership structure:Unlike the most of the retail firms, John Lewis is owned by manypartners who generally help in easing the pressure on the company for reporting as well ascomplying with external stakeholders. According toLaudien and Daxbock (2016) this not onlyassists in providing the opportunity of long term rather depending on various visionaryinvestments but also assists in providing high staff retention as well as motivation. In fact, thestructure of partnership that is followed by the company depends on some of the businessreasons as it is identified that customers generally engage in forming more committed as well asdedicated workforce.Customer experience:John Lewis helps in addressing a focused customer base thatgenerally prefers service as well as quality over the cost (Ochoa, Lara and de la Parra 2017).It isidentified that the shopping experience that is received by the customers includes both high endlocation s as well as products which dedicated support as well as proper warranty policies bothonline as well as in stores which are quite essential for the firm.Multi-channel approach:It is stated byNestic and Stefanovic (2015) that multi-challenging effectively helps in providing consumers the choice of where and when to shop thathelps in enhancing sales across various touch points of the customers. The firm Jon Lewis isconsidered as one of the multi channel retailer in the recent years.
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