Report On NEXT Plc - Products & Services Selling | Mission & Vision
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Added on 2020-02-03
Report On NEXT Plc - Products & Services Selling | Mission & Vision
Added on 2020-02-03
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Leadership Innovation andEntrepreneurship
Table of ContentsINTRODUCTION...........................................................................................................................3EXECUTIVE SUMMARY.............................................................................................................4BUSINESS OVERVIEW................................................................................................................5Description of the products and services....................................................................................5Company details/ Operational capabilities/ Team......................................................................5Mission Statement/ Vision/ Short and long term goals/ Ethics/ CSR.........................................6MARKETING STRATEGY AND MARKETING PLAN .............................................................7Micro and Macro analysis...........................................................................................................7Competitive analysis...................................................................................................................8Marketing mix.............................................................................................................................9FINANCIAL ANALYSIS AND PROJECTIONS........................................................................10Cash flow projection.................................................................................................................10Loan requirement calculations..................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONLeadership is the action of leading a group of people of the firm and they have to providethe encouragement to the team members or subordinates so that they can attain the targets. Theemployees of the business entity have to share the new ideas, methods so that they can innovateor develop the products and services so that they can attain the goals and objectives (Crossan andApaydin, 2010). The owners of the business entity having the capacity as well as willingness sothat they can develop, organise along with the manage a business venture so that they can make arisk in order to generate a more profit. The present report is based on Next PLC which is amultinational company and deals in clothing, footwear and other home products. In the belowmentioned report, products and services which company is selling has to be discussed along withthe mission and vision of the business entity (Stanford Innovation and EntrepreneurshipCertificate, 2017).EXECUTIVE SUMMARYNext PLC is a multinational company which deals in retailing, clothing as well asfootwear. Along with this the business entity provides the high quality products to theconsumers. The company having best employees which having a good knowledge as well asskills which helps in making the best products and it should be depend on the needs and wants ofthe consumers which help NEXT PLC in increasing the sales and generating more revenue. Thebusiness entity have to use relevant laws and regulations which are made by the government andon the basis of that they can fulfil the legal requirements as well (Crumpton, 2012). Next PLChave to use appropriate funds which helps in doing the operational activities. To assess theviability of the business they have to use correct money so that they can take proper use of that.Along with this they have to pay tax then re-investment should be done. They have to userelevant tools and techniques so that they can measure the business viability whether it isphysical or financial. They have to make the changes in the business so that risk should bereflected properly. Along with this feasibility, viability as well as future performance depends onthe financial figures of Next PLC. They have to determine the changes which will help thebusiness in attaining more profits. The staff members of Next PLC have to make proper andaccurate research so that they can analyse the strength, weakness, opportunity along with thethreats (Dahlstrand and Stevenson, 2010).
BUSINESS OVERVIEWDescription of the products and servicesNext PLC deals in clothing, footwear as well as other home products and these areprovide at a affordable price. The merchandise which they are providing to the consumers itshould be in excellent quality. Along with this it is safe as well as fit for their intended purpose.Next PLC is using appropriate rules and regulations so that they can maintain their standardswhich helps in fulfilling the legal requirements. They have to provide a high level of services toall our consumers (Drucker, 2014). The company provide the best and qualitative products whichhelps in increasing the satisfaction level of the consumers so that they can attain the goals andobjectives. Company details/ Operational capabilities/ TeamNext PLC is a British multinational clothing, footwear as well as home products andapprox. company having 700 stores in which approx. 500 are in UK and around 200 are incontinental Europe as well as Asia. Next PLC is listed on London Stock Exchange. In the year2014, the foundation named living wag bought the share of Next as well as attended the annualgeneral meeting which helps in attempting or persuading the firm so that they can make thepayment around £6.70. In 2014, UK having the less tax payers and the retail companies usingmore funds to do the promotional activities by hiring the low paid workers which assist inexploiting the austerity as well as they have to add the staff and make the payment as wageswhich assist in welfare of UK (Dunlap‐Hinkler, Kotabe and Mudambi, 2010). Next PLC having the three main channels which includes Next retail, Next directory aswell as Next international. In the Next retail, there are approx. 500+ branches in UK as well asIreland. In the directory of Next, there are around 3 million active consumers which having thehome shop catalogue as well as websites. Along with this in Next international, there are morethan 180 stores in the international market. The company having a brand name as well asreputation in the market and its own branded younger women's fashion products by using thewholesale, retail as well as website channels. The business entity having a best team who having a good knowledge, skills as well ascapabilities and they are using this in producing the products and it helps the firm in attaining thegoals and objectives as well as it also assist in maintaining the position in the competitive market
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