Improving Business Performance and Management | Report

Added on -2020-02-05

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Improving BusinessPerformance andManagement1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1TASK 2............................................................................................................................................2TASK 3 ...........................................................................................................................................3TASK 4 ........................................................................................................................................5TASK 5............................................................................................................................................7TASK 6............................................................................................................................................9TASK 7............................................................................................................................................9........................................................................................................................................................12........................................................................................................................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................142
INTRODUCTIONBusiness performance management is a set of activities that are performed by theorganizations. Through this management process the firm will be able to achieve its allobjectives and goals. It is a ongoing process that monitor the performance of all employees andprovide them feedback so that they can improve their performance. This approach is moredynamic in nature (Yang, Hong and Modi, 2011). There are some elements that are related to themanagement of performance such as feedback, appraisal, positive reinforcement and so on. Thepresent is based on Sainsbury which perform its operations in UK. The retail industry is focuseson their management and for they made some strategies so that they can achieve the success inthe market. The below mentioned report is focuses on the products and services of the firm thatthey provide to their customers. Along with this, they also evaluate the operations that companyperformed in the market and how changes can be made in order to increase the market share ascompare to other industries. Further, it also explains the risks that firm is facing and on the basisof that plan should be implemented (Trkman, 2010). TASK 1Sainsbury is a supermarket in United Kingdom that provides grocery products to theircustomers. They have 16.9% market share in the retail industry as compare to other competitors.They have many competitors such as Tesco, Asda, Mark and Spenser and so on. These allindustries are market leader in the country. The enterprise is get established in 1869 in Londonand now they have employees approx 145,000 who are providing services to their customers.They also offer approx 23,000 products and services to the people of the country. Sainsbury have40% products of their store brand and through their branded products they can attract morecustomers. They offer wide range of food and grocery products to their end users. Along withthis they also offer mobile phone and tablets to their consumers so that they can earn moreprofits than any other industry (Rosemann and vom Brocke, 2015). They offer their servicesthroughout the world and they serves approx 11 million customers in a week. They opened theirretail outlets in approx 1312 locations in different countries. Sainsbury have well developed data based system and they also offer their servicesthrough their online store. The firm offer quality product to their customers at flexible prices.They also conduct a survey in the market so that they will be able to identify the needs anddemands of the people (Measuring performance. 2014). They use the concept of modern1
technology in order to provide innovative products to their end users. Through this, they will beable to create a strong base of customers than their competitors. Along with this, they also offerhealth related products, store brands and so on. They also uses many promotional activities likethrough online media, advertisements and so on (Trkman and et.al., 2010). They also followsome of the principles such as respect the environment, best quality services should be given totheir customers, a great place to work and so on. On the basis of these principles they will beable to improve the image of company in the market as compare to other market players. TASK 2In the modern era, changes have become very essential for the growth and success of anybusiness enterprise. Furthermore, changes at regular intervals help an organization to deal withintense competition (Taticchi Tonelli and Cagnazzo, 2010). The present research report is basedon Sainsbury which is a United Kingdom and it offers wide range of products and services to allcustomers. The brand is considered as second largest chain of supermarket in the country and hasa market share of 16.9%. In the past few years, the competition among retail supermarketindustry of UK has become so intense that it is no longer easy to attain higher sales and profits.It can be expressed that in order to sustain in the marketplace, the selected business enterprise isrequired to carry out certain changes in its overall operations and business practices. This paper proposes three different changes to overcome Sainsbury’s current problem:1.Sainsbury can to implement Electronic Customer Relationship Management (ECRM)practices in order to deal with its key customers in more effective manner. At present theselected business organization is facing issues related to poor communication andinformation management system. The use of Electronic customer management systemwill have direct impact on the overall performance of the business enterprise. The brandcan carry out certain changes in its information management system by adopting ECRMpractices. This will also help the selected business enterprise to enhance the overallprocess of communication adopted and carry out smooth flow of all operations. Apartfrom this, the use of ECRM will also support the brand in improving the overall degree ofservices which has been provided to people in the market (Kristal, Huang and Roth,2010). 2.It can be expressed that Sainsbury is also facing issues related to ineffective and unskilledworkforce (Improving your business performance using standards. 2017). This has2
resulted in creating obstacles in overall growth and success of Sainsbury. The brand cancarry out changes in the way it deliver training and development sessions. In order tosustain in long run, the organization can start laying more emphasis on training anddevelopment sessions. It can be asserted that these sessions will help in enhancing theoverall skills set and knowledge base of workers. Along with this, it will assist indeveloping a strong bond and coordination among all the staff members (Teece, 2010). 3.The last change which can be carried out within Sainsbury is related to implementation ofthe feedback system. The brand has started facing wide range of issues linked withcustomer complaints and queries. This has created sense of dissatisfaction amongcustomers and also affected volume of sales in negative sense. The selected businessenterprise can implement customer complaint and feedback system which can support ingetting aware of the key issues faced by customers. However, it can be argued that thecompany will need to focus on responding to feedback of customers in effective mannerin order to create sense of satisfaction among them. Along with this, it will be required toensure that customers are satisfied with the way their complains, queries are addressedand managed by the organization. TASK 3 There are many employees who are working in the firm so that they can provide thequality services to their customers. According to the Sharabati, Naji Jawad and Bontis (2010)that training and development programs should be conducted in the firm so that all workers willbe able to enhance their knowledge, experience and so on. There are many factors that playimportant role when any plan is implemented by the firm. These factors can be like high rate ofreturn, recover from the initial investments and high profits. When any plan is implemented thenthey have to consider these elements so that overall objectives of that plan can be achieved.When training is conducted then the manager of the firm have to made budget of that programlike how much he have to invest in the plan and how much he will get in return and so on. Ifskills, experience and knowledge of workers are get improved than they will perform well thanany other employees otherwise Sainsbury will not be able to achieve its goals. These programsare important for new and existing employees. New workers will be able to know about their3
work in the firm and existing staff members can attend this program in order to update their corecompetencies. Sainsbury can use one analysis method such as net present value. This method can beexplain in the terms of cash inflows and cash outflows or it is the difference between presentvalue of cash inflow and present value of cash outflow (Flynn, Huo and Zhao, 2010). This isused by the organizations in order to identify the profitability of the project. For example, if theretail industry wants to conduct training and development program in the firm then they have toforecast the benefits of that activity. Along with this, they can made changes so that overallperformance can be improved (Dumas and et.al., 2013). There are some advantages anddisadvantages are also attached with the implemented projects of Sainsbury. The biggest benefitof this method is that it shows the return on the initial investment and it also gives importance tothe time value of money. Along with this, they can increase the value of the firm and risks canalso be identified. There are some limitations that are faced by Sainsbury that this method itdifficult to use and sometimes it is also difficult to measure the discount rate. These methods willnot be able to take correct decisions for long term projects. So, it has been critically evaluated by the Testa and Iraldo (2010) that training anddevelopment programs can be implemented by following such method like net present value.Through this the firm will be able to identify the outcome because this is a short term project. Net present value of Training and development YearProject XP.V factor at10%P.V of cash flow120000.9091818228000.8262312.8332000.7512403.2 412000.683819.658000.621496.865000.564282Salvage value400000.56422560Total PV of cash flow30692.4Initial investment8000Net present value22692.4Net present value of ECRM system Project YPV @ 10%Present valueInitial investment600004

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