Report On Home Bargains Stores - Analysis Of Management Strategies

Added on -2020-02-05

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Professional Development and Practice
Table of Contents1) Introduction.................................................................................................................................12) ISSUES........................................................................................................................................13). Aims and Objectives...................................................................................................................34.) Use of Knowledge .....................................................................................................................45.) OVERVIEW OF METHODOLOGY.........................................................................................55.1 ISSUES, NEEDS , OPPORTUNITIES:...........................................................................55.2 Evidence...........................................................................................................................7PRIMARY RESEARCH:.......................................................................................................7SECONDARY RESEARCH..................................................................................................75.3 RECOMMENDATIONS:................................................................................................8A description of how you will access or collect the evidence or data you need, where it willcome from and how you will analyse it to answer your research question............................9How does key aims relate to the specific needs, issue or opportunity you have identified toresearch? ................................................................................................................................9What does your acquired knowledge, evidence or data tell you about this issue within yourgiven context?.......................................................................................................................12CONCLUSION..............................................................................................................................21References......................................................................................................................................23Appendix........................................................................................................................................25Questionnaire........................................................................................................................25
1) IntroductionHome bargains is a chain of discount stores with 4000 branding products line stockingup with general merchandising goods and grocery store. Home Bargains was founded in 1976 byTom Morris and is working as a chain of discount stores. It has over 17000 employees from headoffice to the workers working in warehouses and as staffs. They are growing at a increasing rateand their turnover is GBP 1 billion. And it has increased by 50% in three years. They have beenserving over to 3 million customer and they are ranked as highest discount retailer chain inUK(Moon2013). The present report is based on the analysis of the management strategies forincreasing the productivity of stores of home bargains. Although they have been doing very well financially but to sustain it they have to lookupon the problem areas that they are facing such as: Marketing problems related to reaching outto the customers, High staff turnover, as attrition rate is increasing, they should be makingstrategies for retention of employees. Poor technologies, Supply chain management must beefficient as if one chain breaks whole system breaks. For increasing productivity, each of theissue must be addressed separately and given full attention. As far as marketing issue isconcerned they need new marketing strategies for their products so that they can increase theircustomer base and attract the potential customers. In this report it has been identified that what is the relationship between existingmarketing strategies and increased productivity., the impact of current marketing strategies onthe productivity of organisation will be studied here and the strategies that Home Bargains haveadopted for retaining staff is to be identified in this report. This report is made to find out thesolutions of the above addressed problems. The analysis of managing strategies will help to findsolutions for Home Bargains to increasing their productivity.2) ISSUESProductivity has been defined as the quality of being produced, it the efficiency that howmuch a firm produces. Higher the productivity higher the efficiency of firm,they will producemore and more(Desimone2011) But there are issues that may hinder the productivity of Homebargains. These issues are :Cultural issues: The culture in home bargain was not at all good as the experiences ofthe employees were very bad it can be seen with the reviews that the employees gavewho has left their job because of the bad work culture. There are no set standards and1
ways to perform tasks and things there. Second problem that they face was biasness.Managers on their personal likes and dislikes behave with the employees. Theydiscriminate employees Marketing: It has been the key element for increasing productivity because company canmake better products and services for the customers by analyzing their expectations. Butthere are some problems attached to it. There are issues which must be addressed asap .Some of the issues with marketing are that one product is not enough to please everyone. High staff turnover: The staff turnover is not a good situation for Home Bargains asthey have incurred a lots of money in the training of staff, they have conducted seminarsalso for the better understanding of the work (Borkond et.al 2011).Poor technology: This problem in Home Bargains is letting them face many trouble inhandling the work. The current technology utilised by Home Bargains such as the Palletconveyor System along with the Tote-Conveyor system have not been highly efficient inenhancing the production of various products. This has slowed down the productionprocess thereby hovering a threat upon the organisation. Supply chain management: The supply chain management is the backbone of productsreaching to the store and customers. If the manufacturer doesn't delivers on time and theretailer or distributor delays it entire chain is disrupted (Florian2012). 3). Aims and ObjectivesAim : “To identify the role of pertinent business strategies in enhancing the productivity ofHome Bargain.”Objectives :-To ascertain the relationship between undertaken market strategy of Home Bargain andits productivity.To determine the way in which the marketing strategies impact upon the productivity ofHome Bargain.To evaluate the staff retention strategies adopted by Home Bargain to increase their workproductivity.2
4.) Use of Knowledge Management strategies are the strategies for the formulation and implementation of majorgoals and objectives of home bargain. It is the decisions taken by the top management on behalfof owners and it is decided in accordance with the resources that they have and the analysis ofinternal and external environments in which the organisation is competing. To know that the strategies that are currently going on in the organisation is better for theorganisation or they need to be changed further so as to achieve the desiredproductivity(Moser2012). For increasing productivity they must list the organisation's long andshort term goals. Employees must be reviewed on the basis of their performances. In the first it isessential for the company to analyse the performance of the employees which can help to thecompany to determine their short term and long term goals. High staff turnover is a big task, not everyone will be happy in your organisation, soproper measures to retain the employees in the organisation is very essential as if attrition rateincreases it will add a lot in its cost, as to train a employee it requires lots of time , efforts andcost. If the technology is poor it increases the efforts and time of the worker that he has to put indoing same work which can be completed early if the technologies are updated. The supply chainif not proper gives a lot of pain in the working of organisation. As if its not proper then theproducts will not be deliver on time or not reach to the sore as well and maybe they loose acustomer because of this. For increasing the productivity marketing strategies have to be intact(Avalos2011), they must measure the marketing success, and the markets must be targeted forincreasing productivity and the results must be measured time to time and actions must be takenaccordingly. Marketing strategies are nothing but the tools to gain overall performance of any firm andhelp in the long-term survival of the organisation. Marketing strategy involves the promotion,pricing, distribution and standardization of products which are crucial to the product's existencein the market(Rushton Lotteand Singer2011).For staff retentions proper measures and strategies are to be made as their retention willlead to loss of training and development cost of employees as they have spent a lot in theirdevelopment. They have to make a proper strategies which has to be cost effective to providingtraining and development program to their employees to perform better. Their aim is to reducethe attrition rate so as the productivity remains intact and thus increase further3
(Jimoyiannis2010). As they are having an issue of the higher rates of the employee retention so itis essential for the company to make a proper strategy to retain employees in the organisation. For achieving these aims and objectives they have to formulate certain managing strategies andimplement them for the smooth functioning of their stores.5.) OVERVIEW OF METHODOLOGY5.1 ISSUES, NEEDS , OPPORTUNITIES:There are two types of methodology that is quantitative and qualitative that is explainedbelow:Quantitative method: This analysis includes using scientific data so that problems canbe recognized. For example analyzing surveys for predicting demands of customers. Thisis completely different from qualitative approach which is using a social methodologysuch as interviews is taken from people. But the quantitative approach concentrates onthe outputs from a large group of people despite of concentrating on individuals. Qualitative approach: The word qualitative states emphasizing on the attribute orquality of the entities. This do not include measurement and statistics. This method isused in philosophy, social science and history of centuries. The designing of thisapproach is based on the social constructivism perspective. The problems of research getsconverted into research questions that is based on the preceding research experience. Thesample size taken can be very small as one. The gathering of data includes interviews,observance and archival information. This is a form of inquiry that is used to analyze theinformation that can be transferred via language and behavior in natural setting. It iscommonly used to acquiring the expressive or communicative information that are notbeing conveyed in quantitative approach about notion, values , emotions and motivationthat lie behaviors. In this report, qualitative approach is being is used to capture the information of social belief,feelings and values.For the various issues mentioned in the context of Home Bargains, various factors are to beconsidered that will result in the reduced employee turnover and improved performance of theorganization (Blackand Plowright2010).For Marketing issue, there are various marketing strategies available that have beendiscussed above can work in the betterment of the company. These include:4

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