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Assignment on Business Performance Analysis
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Added on 2019-12-04
Assignment on Business Performance Analysis
Added on 2019-12-04
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IMPROVINGBUSINESSPERFORMANCE
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1TASK 2............................................................................................................................................2Business performance analysis..................................................................................................2Problem identification at The Shop at Bluebird..........................................................................2TASK 3............................................................................................................................................4Investment appraisal method ......................................................................................................4Implicating project appraisal techniques for The Shop at Bluebird ...........................................6The Shop at Bluebird Projects Appraisal Summary table ..........................................................6Implementing the best result and analysis of the same ..............................................................6TASK 4..........................................................................................................................................10Continuous improvement tools.................................................................................................11TASK 5..........................................................................................................................................11TASK 6..........................................................................................................................................13TASK 7..........................................................................................................................................13CONCLUSION .............................................................................................................................20REFERENCES..............................................................................................................................21
INTRODUCTIONImproving business performance plays a crucial role as it help business venture toincrease their productivity and revenue. Owners, top managers focuses on implementing newchanges but they do not find the right step to start the process (Zeithaml, Bitner and Gremler,2010). In order to implement the change process, business venture need to consider the internaland external environment and should implement the change process accordingly as it will meettheir organizational goals and objectives. The organization undertaken for the present study is The Shop at Bluebird which deals inclothing apparels and provides a unique luxury experience to customers. Mentioned enterprisedeals from womenswear to menswear, beauty to lifestyle and brings new products every seasonin order to satisfy customers wants. This present document has been prepared in order tounderstand the contribution of operational function with the development and implementation ofthe business strategy.TASK 1The organization considered for making this report is The Shop at Bluebird which wasincorporated in the year 1923. The shop is located at King's Road which is one of theinspirational place and stretches through Chelsea and Fulham. Different event usually hostedthroughout the year and the road becomes the centre of attraction for public. On the other side,cited firm has researchers who constantly focuses on bringing new collection for customers inboth men and women segment.Further, the apparel shop generally gives a luxury experience to individuals andorganization designers loves to edit their work after a certain time period and brings all newdesigns every season (Berthon and et.al., 2012). This eventually attracts public towards the shopand this is the reason of their increasing goodwill and popularity within London. The Shop atBluebird having specialization in:WomenswearMenswearWestern outfit1
The price of their products are also reasonable and organization emphasizes on givingquality of products to their customers. This is also a major reason of their increasing popularityand with it cited firm is able to meet their goals and objectives.TASK 2 Business performance analysisCurrently, cited firm having their effective operations within UK only and the owner ofthe store is planning to expand the operations to different parts of city. This will lead toconvenience for customers as they will be getting the same product at organization differentoutlet as well. Further, cited venture having a large customer base and with the establishment ofanother outlet, firm will be able to increase the chain of their loyal customer base (Ataman, VanHeerde and Mela, 2010). Moreover, cited firm focuses on unique pricing strategy as this strategy helps them to getpositive upfront as compared to the ventures who are working within the same industry. Further,with certain construction work in coming time period, organization will be able to developeffective brand image, productivity and turnover.Problem identification at The Shop at BluebirdHowever, cited firm is facing some major problems in conducting their operations andthis is leading them one step behind in the competition which exist in this dynamic environment(The shop at Bluebird, 2016). Further, poor performance in past few quarters has impacted their2Illustration 1: The Shop at Bluebird Outlet at King's Road
operations upto quite an extent and the owner of organization has to solve this issue as soon aspossible (Douglas and Craig, 2011). Thus, at the time of inquiry, it is found that The Shop atBluebird facing some major operational issues and these issues have been discussed down under:The Shop atBluebirdProblemSolution proposedOperationalstrategy areaPROJECT 1Increasing customers Establishment of new storeConstructiondevelopment PROJECT 2Long ques for paymentDevelopment of Self CheckoutmachinesTechnologyCapacityPROJECT 3High alteration or refundorderInstallation of changing room andextending existing premisesDevelopmentand constructingFrom the above description, it is evident that, The Shop at Bluebird is facing threedifferent operational issues and for overcoming these, owner of venture need to adopt somecrucial strategies. These problems and necessary solutions for the same has been discussed downunder:Increasing customers:Cited organization has a chain of large and loyal customer base. Customers start comingfrom morning and the process goes on till 9-10 pm in the night. The owner has also recruitedsome individuals who suggest customers regarding what to purchase and what will suit to them.Their efficient staff is the key for success and owner also keep care of the same (Leonidou, L.C.,Palihawadana and Theodosiou, 2011). However, sometimes these increasing customers becomesa major problem for organization as with increase in customers, it is hectic for business to dealall the same at the same time. On the other hand, in the fast moving marketplace, individual do not like to wait and theygo out to the organization without making a purchase. In order to solve this cause, cited firm isplanning to launch a new venture at some other part of the city as it will be convenient forcustomers as well as for venture. Apart from it, it will give more customer satisfaction and withinsome time period, cited firm will be able to increase their revenue as well as productivity.Long ques for payment: 3
Customers spent more of the time in order to make the best purchase. Also, they wantthat they get best products and they get worth of the money so invested. Organization staff alsodo their best in showing customers new designs and apparels. However, the major problemwhich customers are facing is the long que for payment which makes them as they have to standin the long lines (Varadarajan, 2010). Further, this thing hesitate as they used to spend more timein making payment as compared to making payment. They also used to get late towards reachingto their destination. This is suddenly causing them a sense of dissatisfaction. For solving this, organization can implement self check-out machine which will reducetime for both organization and customers. Customer need to take the apparels which they haveselected to the self check out machine, need to scan the bar-code which are there on products andcan make cash or debit card payment on their purchase. Here, customers self acts as a cashierand do transaction accordingly. High alteration or refund order: Volume of alteration order has been increased because there do not exist trial roomwithin the establishment. This has resulted towards high alteration and refund order from theventure and it has also leaded towards wastage of time which they have spent in showingapparels to customers (Papadopoulos and Heslop, 2014). Mentioned firm has to reduced this inorder to save time and energy which is invested in the past orders.However, cited venture can overcome this issue by constructing changing rooms as withthat customers can see the fitting of clothes by wearing at the same time only. This will save timefor both employees and customers. If clients do not like that product then they can alter it at thesame time only. Therefore, change room will be a major solution for the venture and with thatfirm will be able to increase their revenue and productivity.TASK 3Investment appraisal method Investment appraisal techniques are considered as a crucial tool which help organizationto decide that which project to choose from the identified. However, owner of cited ventureshould not concentrate on one appraisal method but he also has to select different financial aswell as non-financial techniques as it will help venture to make change from different angels(Cronin Jr and et.al., 2011). Moreover, to understand this topic deeply, different investmentappraisal methods has been discussed down under:4
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