Business Strategy Report: BizOps Enterprises Retail Integration Plan

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Added on  2023/06/03

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This report provides a comprehensive business plan for BizOps Enterprises, focusing on integrating online sales with their existing retail outlets. It outlines the goals and objectives of the plan, emphasizing the importance of adapting to changing customer preferences and technological advancements. The report details key employees and their roles in the implementation process, highlighting the significance of stakeholder engagement, including both internal employees and external customers. It further explores communication strategies for interacting with stakeholders, methods for gathering feedback, and a detailed timeline with required resources. The documentation section addresses potential issues, such as skill gaps among staff and budgetary concerns, offering recommendations for resolving conflicts and mitigating perceived problems. Overall, the plan aims to accelerate annual growth by enhancing the company's online presence and improving its ability to meet customer demands effectively.
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Running head: BUSINESS STRATEGY
Business Strategy
Name of the student:
Name of the university:
Author note:
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BUSINESS STRATEGY
Table of Contents
Introduction:....................................................................................................................................2
1. Business plan:..............................................................................................................................2
Goal and objective of the plan:....................................................................................................2
Key employees and their role:.....................................................................................................2
Stakeholders, engaged in the plan:..............................................................................................3
Communication strategy for interacting with the stakeholders:..................................................4
Strategies for gathering feedback from the stakeholders:............................................................4
Business plan along with time frame and the resources requires for developing he plan:..........5
2. Documentation of the plan:.........................................................................................................7
Recommendation on resolving the issue, raised by the stakeholders:.........................................7
Process of managing the conflict:................................................................................................7
Steps of mitigating the perceived problem:.................................................................................8
Conclusion:......................................................................................................................................8
Reference List:.................................................................................................................................9
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BUSINESS STRATEGY
Introduction:
In the intense competitive business environment, the organizations should embrace
necessary changes in the internal operation to strengthen their position in the market. Hazen et
al., (2018) opined that there lies the significance of business strategy which enables the firms to
run their internal functionality smoothly. Present paper will highlight a development plan for
accelerating the annual growth of BizOps Enterprises.
1. Business plan:
Goal and objective of the plan:
With the rapid development of technology, the customers are becoming extremely intended
towards accessing internet in order to purchase products as per their own requirement. This is the
most time effective way of completing the entire purchasing process. According to the case
study, the managing director of BizOps Enterprises is aiming to change the structure of their
retail operation with the intention of integrating online sales. As per Hopkin (2018) a
comprehensive development plan is to be carried out in order to make such changes. The
fundamental goal of the plan is to revise the structure if retail outlets in order to integrate retail
sales. This is the way, through which the annual growth rate can be accelerated.
Key employees and their role:
As the employees play a significant role in running the internal functionality of a firm
with utmost efficiency, it is imperative for BizOps Enterprises to integrate employees within the
development plan. The employees and their roles in implementing the plan is presented below:
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BUSINESS STRATEGY
Key personnel Roles
Managing director Communicating the need of changing the retail
structure upon the management
Managing director-
finance
Making a budget to implement the plan in a
cost effective manner.
HR manager Hiring technical staffs for the sake of making
necessary technological changes to integrate the
online sales
HR manager Hiring trainers to strengthen the ability to the
staffs to cope up with the retail sales
IT Manager Launching official social media page of BizOps
Enterprises in order to promote the products.
Project manager Implementing the final plan
Risk analyst Exploring the possible risks of the proposed
changes.
Stakeholders, engaged in the plan:
Stakeholders play a pivotal role in the way of determining the outcome of business. There
are both internal and external employees, who can have a firm impact on the internal
functionality of a company (Durand, Grant & Madsen, 2017). As the managing director of
BizOps Enterprises is aiming to change the structure of retail outlets, it is imperative to engage
the stakeholders in an appropriate way. As the employees are the key factors of running any
smooth outlets, it is imperative to communicate with them. Training is to be offered among the
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BUSINESS STRATEGY
retail staffs to manage the online sales (Hill, Jones & Schilling, 2014). Comprehensive technical
training is to be given to them for the sake of strengthening the technical skill among the staffs,
which is very much needed in terms of handling the online shopping portals of BizOps
Enterprises (Goetsch & Davis, 2014). The customers are one of the important stakeholders of a
business, the management of BizOps Enterprises nectary steps to communicate proposed change
with that of the customers.
Communication strategy for interacting with the stakeholders:
Healthy interaction is needed to be maintained with both internal and external
stakeholders. As the internal operational structure is going to be changed, the management of
BizOps Enterprises must sent email among the individual staffs regarding the changes. The
operation manager can also arrange meeting by including all the department. This is the way,
through which the new business can be communicated with the stakeholders (Doz, 2017). In
order to convey the new business plan with the customers, lucrative advertisement is needed to
be made.
Strategies for gathering feedback from the stakeholders:
At the time of implementing the business plan, it is important to gather feedback from the
stakeholders. This can serve the operation manager of BizOps Enterprises to measure the
accountability of the plan in among the stakeholders. In order to gather feedback from the staffs,
the HR department of BizOps Enterprises should arrange an open discussion session and allow
them to express their belief and perception clearly. Formal meeting is also a great way to gather
feedback (Wheelen et al., 2017). A comment section is to be integrated in the online shopping
portal of BizOps Enterprises to gather feedback from the customers.
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BUSINESS STRATEGY
Business plan along with time frame and the resources requires for developing he
plan:
A comprehensive business plan for integrating online sales with that of the retail outlets
is as follows:
Project
milestone
November
, 2018 to
December,
2018
January,
2019 to
March
2019
April,
2019 to
June
2019
July
2019 to
August
2019
September
2019 to
November,
2019
December,
2019
Selecting easy-
to-use e-
shopping cart
Making
necessary
budget
Communicate
the new plan
with every
department
Implementation
of effective SEO
strategy
Selecting web
developed
Providing
training among
the staffs
Running a trial
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BUSINESS STRATEGY
of new online
shopping portal
Monitoring the
trial
Implementation
of online
shopping portal
Table 1: Action plan for launching online shopping portal of BizOps Enterprises
(Source: As created by author)
Required resources:
Proper utilization of valuable resources is extremely significant factor in terms of
executing a plan in a timely and cost effective manner. The resources required for propose plan
is as follows:
Activities Required resources
Selecting easy-to-use e-shopping cart Subscription based software
Making necessary budget Information regarding the existing
monetary resource, efficient
finance department
Communicate the new plan with every
department
Strong communication tool
Implementation of effective SEO strategy Google's Keyword Tool, keyword
research tool
Selecting web developer Highly proficient human resources
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BUSINESS STRATEGY
Providing training among the staffs Expert trainer who hold strong
technical skill, medium of
providing the training
2. Documentation of the plan:
Recommendation on resolving the issue, raised by the stakeholders:
Lack of skill among the staffs is the biggest issue, which the management of BizOps
Enterprises can face in the way of launching the new business plan. This can hamper the
consistency of their business process. In order to mitigate the issue, the HR department must
offer the employee with technical training (Rothaermel, 2015). Training must also be given in
order to enable the staffs to handle the official social media account of BizOps Enterprises.
Excessive transaction fee is also a great barrier in the running the new system in a cost effective
manner. A comprehensive financial planning is a great way, through which such issue can be
mitigated. With the assistance of this financial planning, the issue related to excessive cost of
software can also be mitigated (Bettis et al., 2015).
Process of managing the conflict:
Negative attitude among the sales representatives is a great conflict in the way of
designing online sales strategy. Lack of expertise among them is one of the greatest reason
behind this issue. It is important to strengthen the skill among the staffs to perceive the way of
accessing online data sheet (Morden, 2016). The dashboard of individual sales representatives is
to be integrated with the e-commerce website in terms of evaluating the performance of online
shopping portal.
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BUSINESS STRATEGY
Steps of mitigating the perceived problem:
A plan for mitigating the perceived issues systematically is presented below:
Problem Steps of resolving the problem
Negative attitude
among the staffs
Offering training to them
Creating learning environment at workplace
Budgetary problem Making comprehensive financial planning
Operational
challenge
Creation of strong organizational structure
Maintaining consistency in hierarchy
Identifying and refining the resources
Attracting the most
potential base of
customers
Executing Google key work tool
Making lucrative advertisement.
Table 2: Steps of resolving the perceived problem
(Source: As created by author)
Conclusion:
Based on the discussion, it can be said that appropriate execution of proposed business
plan can help BizOps Enterprises to satisfy their aim of integrating online sales with that of the
retail outlets in a timely and cost effective manner. This is the way, through which they can
attain sustainable growth in their annual sales.
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BUSINESS STRATEGY
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Reference List:
Bettis, R. A., Gambardella, A., Helfat, C., & Mitchell, W. (2015). Qualitative empirical research
in strategic management. Strategic Management Journal, 36(5), 637-639.
Doz, Y. L. (2017). Strategic management in multinational companies. Routledge.
Durand, R., Grant, R. M., & Madsen, T. L. (2017). The expanding domain of strategic
management research and the quest for integration. Strategic Management Journal,
38(1), 4-16.
Goetsch, D. L., & Davis, S. B. (2014). Quality management for organizational excellence. Upper
Saddle River, NJ: pearson.
Hazen, B. T., Skipper, J. B., Boone, C. A., & Hill, R. R. (2018). Back in business: Operations
research in support of big data analytics for operations and supply chain management.
Annals of Operations Research, 270(1-2), 201-211.
Hill, C. W., Jones, G. R., & Schilling, M. A. (2014). Strategic management: theory: an
integrated approach. Cengage Learning.
Hopkin, P. (2018). Fundamentals of risk management: understanding, evaluating and
implementing effective risk management. Kogan Page Publishers.
Morden, T. (2016). Principles of strategic management. Routledge.
Rothaermel, F. T. (2015). Strategic management. McGraw-Hill Education.
Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management
and business policy. pearson.
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