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Effective Business Plan for Harvey Morgan

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Added on  2020-03-02

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ENTREPRENEURSHIP 2 ENTREPRENEURSHIP Entrepreneurship Name of the student Named of the university Author note Executive summary The aim of this report is to discuss about the effective business plan for Harvey Morgan which will help them to gain competitive advantage in the market. Introduction 3 Company profile 3 Organizational Management of Harvey Norman 4 Financial management of Harvey Norman 5 Marketing and analysis of Harvey Norman 6 Target market segment 6 Competitive advantage of Harvey Norman 7 Marketing and sales strategy 8 Financial plan 8 Recommendations 10 Conclusion

Effective Business Plan for Harvey Morgan

   Added on 2020-03-02

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Running head: ENTREPRENEURSHIPEntrepreneurshipName of the studentNamed of the universityAuthor note
Effective Business Plan for Harvey Morgan_1
1ENTREPRENEURSHIPExecutive summary The aim of this report is to discuss about the effective business plan for Harvey Morgan whichwill help them to gain competitive advantage in the market. Having discussed the marketing andorganizational structure of Harvey Norman, it had been concluded that they are havingdistinctive and effective approaches. These approaches are helping them in targeting theircustomer segments more effectively. Thus, several recommendations are being provided in orderto fulfill these gaps and enhance their performance in the future.
Effective Business Plan for Harvey Morgan_2
2ENTREPRENEURSHIPTable of ContentsIntroduction......................................................................................................................................3Company profile..............................................................................................................................3Organizational Management of Harvey Norman............................................................................4Financial management of Harvey Norman......................................................................................5Marketing analysis of Harvey Norman............................................................................................6Target market segment................................................................................................................6Competitive advantage of Harvey Norman.....................................................................................7Marketing and sales strategy...........................................................................................................8Financial plan...................................................................................................................................8Recommendations..........................................................................................................................10Conclusion.....................................................................................................................................10Reference.......................................................................................................................................11
Effective Business Plan for Harvey Morgan_3
3ENTREPRENEURSHIPIntroduction Retail market of consumer goods or items is one of the most promising and leadingbusiness sector in the present business scenario. More and more organizations are entering in thissector due to the high volume of sales and revenue involved with this sector (Baker 2014). InAustralia, retail market of consumer products is one of the most intensely competitive marketswith having several established competitors operating. Thus, the market scenario in theAustralian region for the consumer goods is quite competitive and price sensitive sector.Organizations operating in this sector are coming up with newer strategies and businessapproaches in order to stay ahead in the competition. Harvey Norman is one of the leading retail chain based in Australia. They offersdiversified product portfolio for their customers (Harvey Norman Holdings 2017). However, dueto the recent entrant of various new competitors in the market, they are facing the heat ofreduction in their sales revenue. This report will discuss about the effective business plan forHarvey Morgan which will help them to gain competitive advantage in the market. Moreover,the various aspects of them in their business operations will also be identified. Accordingly, therecommendations will be given to implement an effective business plan for them. Company profile Harvey Norman is an Australian Based retail firm founded in 1982 by Gerry Harvey andIan Norman. They mainly cater to furniture, bedding, electrical items and computing accessories(Harvey Norman Holdings 2017). They operate in Australia and in the international marketthrough franchisee business model. Currently they are listed in the Australian securities
Effective Business Plan for Harvey Morgan_4

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