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Assignment on Dick Smith Company

   

Added on  2021-06-17

14 Pages2852 Words91 Views
Running head: DICK SMITHDICK SMITHName of the StudentName of the UniversityAuthor Note
Assignment on Dick Smith Company_1
1DICK SMITHExecutive SummaryThe given report throws light on the reasons behind the collapse of Dick Smith. The companywas a leading company in the domain of consumer electronics however due to its lack ofcapability the company collapsed in 2016. The report has followed a systematic structurewhereby a brief overview of the case has been provided along with a detailed analysis of theresponse by the company which led to its downfall. Certain recommendations based on whatcould have been done have also been provided. The report uses practical examples along withtheoretical concepts.
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2DICK SMITHTable of ContentsIntroduction......................................................................................................................................3The response by the business which was unsuccessful...................................................................3Conclusion.......................................................................................................................................8Recommendations..........................................................................................................................10References......................................................................................................................................12
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3DICK SMITHIntroduction The business environment is extremely dynamic. It is very important for any business toconsciously assess the business environment in order to figure out the changes that will takeplace in the business environment in order to ensure that the firm is performing well and is ableto face all the barriers which the dynamic environment throws at it. In the given report, the caseof Dick Smith will be discussed and the causes of its downfall will be analyzed critically. Dick Smith Holdings Limited was an Australian retail store dealing in consumerelectronics, electronic hobbyist components and the electronic project kits. The chain had asuccessful expansion into New Zealand; however expansion into the other countries was not assuccessful (Rothaermel, 2015). The company was found by Dick Smith in 1968 in Sydney andlater on it sold 60% of its ownership to Woolworths Limited in 1980 and sold the remaining partof the company in 1982. However, due to mismanagement of the company, it closed down in2016. The report will be analyzing the reasons why the company was unsuccessful due to itsresponse and provide recommendations on the same.The response by the business which was unsuccessfulThe primary reason behind the company`s failure was its incapability to adapt to thechanging needs of the external environment of the business. With the advancement in thetechnological domain, the electronic industry changed and the business processes also took a turnwhich the Dick Smith Company was unable to abide by. For this reason, the company collapsed
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