Analysis of Iceland Foods Performance and Sales Strategies

This research project investigates strategies to improve the performance and sales of Iceland Foods, a prominent UK retailer. The project begins with an introduction outlining the importance of operational efficiency and effective administration in achieving enhanced sales and maintaining a competitive market position. The research employs a detailed analysis of factors affecting performance, including market competition, employee skills, and the significance of vision and mission statements. It examines the current sales position and identifies areas for improvement through a critical review of key references and data analysis. The methodology includes a descriptive research design and the use of both primary data collected via questionnaires and secondary data from various sources. The project aims to provide actionable recommendations for enhancing performance and sales, incorporating research questions focused on identifying barriers and suggesting strategic improvements. The conclusion summarizes the findings and reinforces the importance of continuous analysis and adaptation to maintain and improve Iceland Foods' market position.

Research Project

TABLE OF CONTENTS
RESEARCH TITLE: ......................................................................................................................3
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Research project outline.........................................................................................................3
1.2 Factors contributing to process of research project selection ...............................................4
1.3 Critical review of key references...........................................................................................5
1.4 Research project specification...............................................................................................7
1.5 Plan and procedure.................................................................................................................7
TASK 2............................................................................................................................................9
2.1 Match resources efficiently to the research question or hypothesis .....................................9
2.2 Undertaking the proposed research investigation in accordance with the agreed
specification and procedure ......................................................................................................11
2.3 Data analysis .......................................................................................................................12
TASK 3..........................................................................................................................................12
3.1 Research evaluation techniques ..........................................................................................12
3.2 Interpretation of analysis .....................................................................................................13
3.3 Recommendation ................................................................................................................23
CONCLUSION .............................................................................................................................23
REFERENCES..............................................................................................................................24
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RESEARCH TITLE:
“How to improve performance and sales of Iceland Foods”
INTRODUCTION
Iceland Foods is listed amongst the top ten retailers of UK. In order to maintain this
strategic position, the organisation must keep on improving performance and sales. This research
project helps in understanding the ways through which organisation can achieve excellence in
terms of performance and enhanced sales. The importance of operations management and
effective administration helps in generating value proposition of the organisation. Iceland Foods
has to inculcate all these attributes so that effective functioning is guaranteed. Moreover, there
are some recommendations provided in this research project which can help in achieving greater
business standards.
TASK 1
1.1 Research project outline
This research project is a detailed study about the methods which can help in improving
performance and sales of Iceland Foods. For successfully conducting this research, it is
important to conduct analysis which provides an insight regarding the performance of the
company and its sales structure. There is a significant impact felt over the consumers and
business clients when performance of a company is not up-to desirable standards (Handfield and
et. al., 2015). This depicts that there is a requirement of certain methodologies which can be
implemented for enhancing performance and sales of products and services provided by the
company. Quality of the product, improper distribution channels, lack of skills and knowledge in
human resource, etc. are some of the barriers which limit or deteriorate the performance of a
company. Moreover, preferences of customers change when good quality products and services
are not received. Hence, a strategic approach needs to be adapted by the company for
overcoming such barriers.
The present research study provides relevant facts and data which can be helpful for
Iceland Foods in improvising on their performances and sales.
Aim
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The primary aim of this research project is to provide recommendations and techniques
for improving performance and sales.
Objectives
Following objectives have been devised for giving a directional flow to this study.
 To evaluate the existing performance of company.
 To identify and recognise the areas that require improvements in terms of performance.
 To analyse the current sales position of the organisation.
 To recommend methodologies for enhancing both performance and sales of Iceland
Foods.
1.2 Factors contributing to process of research project selection
Quality of research completely depends on the type of information which is incorporated
by the researcher. This reason behind selection of this research project is the ease through which
different analytical and factual data can be collected. Current market structure depicts that
competition is growing with fast pace and there is a need for every company to maintain this
speed so that business cycle is not interrupted (Yu, Ramanathan and Nath, 2014). Hence, the
researcher has chosen this topic for conducting study. An organised approach has been selected
by the investigator for collecting and collaborating relevant information. The availability of
various sources of information is also one of the crucial factors that has led to selection of this
research project.
This research work focuses on the areas where Iceland Foods needs to improve for
stabilising its performance and sales. Since, the company is one of the renowned retailers of UK,
it is easier to collect information and respective data that will be helpful in conducting this study.
The researcher has considered survey as a medium to identify these aspects. Furthermore, the
data that is collected from the survey is used as the basis of suggestions which will be provided
for gaining the required techniques. Researcher has taken this project into consideration for
enhancing knowledge base regarding the subject and also to understand the basic factors which
act as limiting agents for the company.
1.3 Critical review of key references
In order to develop a deep understanding on the research topic, it is important to conduct
a critical review over the different works of other researchers. It provides a foundation for
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enhancing knowledge regarding the subject which is further enhanced through more facts and
data.
Performance is considered as a parameter to judge whether an organisation is executing
the set responsibilities and duties in accordance with devised objectives and aims. According to
Brown, S. and et. al. (2013), competition is one of the factors due to which performance becomes
an important criteria in examining business enterprises. Iceland Foods has various competitors in
its current operational markets of UK. Some of these include Tesco, Asda, Sainsburry's, etc. As
per Ahmed, Kristal and Pagell (2014), sales is a significant contributor in both enhancing and
degrading performance. If the company is not reaching estimated sales target then performance is
definitely affected. There are many more characteristic features that affect the business
achievements. These include employee knowledge and skills, effective leadership and
management, attainment of organisational goals and objectives.
Lim, Alpan and Penz (2014) stated that mission and vision are two important aspects
which drive entire business process. The accuracy and relevance of these two parameters help in
estimating whether a company would be able to survive the extreme competition. Organisations
that have a clarity about their destination are more successful and perform extra-ordinarily well
as compared to those without any vision and mission. Furthermore, resource utilisation is
effectively done when these attributes are inculcated in the business strategies. According to
Chae, Olson and Sheu (2014), sales management teams must be formed with a combination of
different set of individuals who have expertise in accomplishing various sales goals and tasks.
The selection of right managers in terms of experience and knowledge can bring out best output
from sales teams.
The productivity of a company is an important aspect for comparing performance with
competitors. Iceland Foods provides a wide range of food products and grocery items. If staff
members handling manufacturing units are not skilled or knowledgeable then an adverse impact
will be addressed by production and sales (Menguc, Auh and Uslu, 2013). Consumers won't
purchase goods because of inappropriate quality and as a result, the company can witness a
downfall. This indicates towards negative performance. (Hitt, Xu and Carnes, 2016) stated that
changes have to be constantly introduced in business structures for enhancing growth. This can
only be possible if human resource of the organisation is efficient enough. Regular training and
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development sessions help in updating the skills and education level of employees which is
reflected in terms of productivity.
Often companies fail to achieve their objectives and aims because of inefficient
processes. According to Wiengarten and et. al. (2014), the process is most crucial part of every
business strategy. The entire administration of Iceland Foods is based on the different processes
they adopt according to their requirement. For example, marketing process is based on the
planning and analysis that is conducted to gain insight about the target market and target product.
If this analysis is not performed correctly, the results so obtained shall not meet company
requirements. This leads to failure of the strategy and wastage of different resources. Oh, Cho
and Kim, (2015) stated that processes must be given limited importance but should be
engineered in such a way that resources are not wasted. Furthermore, the implications of each
stage involved in the procedure is to be assessed for gaining the estimated results.
Performance and sales operations are interrelated. On the contrary, it would not be
incorrect to state that Iceland Foods can experience a decline in its sales due to inappropriate
performance. The factors affecting both performance and sales can be same or different
depending on the situation being addressed by organisation. According to Chae, Olson and Sheu
(2014), regular analysis of the strategic position and market situation must be conducted to gain
an insight about the gaps which are affecting profits and customer share. Moreover, continuous
analysis of different market situations helps in recognising the patterns of behaviour. Sales can
be improved through this analytical study of patterns and the respective factors (Lim, Alpan and
Penz, 2014).
Furthermore, customers also play a vital role in determining the performance and sales
operations. The changes in tastes and preferences of customers formulates specific trends. It is
important for the company to track these trends and make decisions about the products and
services accordingly. As per Menguc, Auh and Uslu (2013), customer needs and requirements
when analysed correctly helps in organising different activities appropriately and then the
designed sales plan can be more effective. When strategies and planning processes are correctly
devised, it becomes easier for organisation to track progress and understand future scope. The
more a company performs constantly well, the greater is interest of individuals to seek
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employment opportunities. This automatically adds a significant value to company's reputation
and brand value.
1.4 Research project specification
In order to conduct the research efficiently there are a set of tools and techniques which
must be assessed by the researcher. The research methodology provides these applicable tools
and methods so that aim and objectives of the respective research can be accomplished. For this
research project, according to the feasibility and suitability of the study, the emphasis is more
provided on sources of information i.e. qualitative data. The entire topic is segregated into
research questions which help in analysing research into various sections. This helps in gaining
information in more effective and efficient manner. Following are the research questions
developed for this study.
 What are the factors that are hindering performance and sales of the company?
 What is the current position of organisation with respect to sales in the competitive
markets?
 What improvements can be done in the business functioning for enhancing performance
and sales of the organisation?
The aforementioned research questions turn out to be standard guidelines around which
the entire research has to be performed. Furthermore, it will help in providing detailed analysis
regarding the current situation and necessary recommendations that are to be provided.
1.5 Plan and procedure
Activity Week
1
Week
2
Week
3
Week
4
Week5 Week6 Week 7 Week
8
Week
9
Developing
research
proposal
Referring
literature for
developing a
mind-set
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Writing aim
and objectives
of the study
Producing a
literature
review
Collecting and
analysing
secondary data
Designing the
research
methodologies
Designing
questionnaire
Conducting
interviews
Acquiring
respective data
Analysing
acquired data
Performing
interpretation
Completion of
remaining
study
First
submission
Reviewing
according to
feedback
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Finalising the
project
Submission
The above produced Gantt Chart depicts the entire plan which is to be followed for
completing the research project. The total time period that will be applicable in entire data
acquisition and compiling in the study is 9 weeks. The researcher has to monitor and control
every activity crucially so that any sort of delay or errors are not committed in the study.
Furthermore, such an organisation helps in tracking the current status of project and the probable
outcomes which can take place. This planning and processing of research study helps in
determining success rate as well as feasibility of the work according to the activities that are
performed.
TASK 2
2.1 Match resources efficiently to the research question or hypothesis
In the present report different resources have been used for enhancing the research
proposal effective. The resources include financial and physical resources that have been used
for making the project reliable and valid. Along with this relationship between resources and
research questions have been used for designing a questionnaire. Moreover, financial resources
have been used for collecting data and information.
QUESTIONNAIRE
NAME :-
AGE :-
GENDER :-
EDUCATION QUALIFICATION :-
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(1) Are you satisfied with the existing performance of the Iceland?
(a) YES
(b) NO
(c) NEUTRAL
(2) Do you feel there is need to make improvements in current sales strategies that have been
used in the company ?
(a) YES
(b) NO
(c) NEUTRAL
(3) What are the major reasons for lower sales of products ?
(a) Lack of appropriate strategies
(b) lack of proper planning
(c) Lack of supervision on employee's performance
(4) DO you feel communication skills of sales person gives impact on the overall performance
of the entity?
(a) YES
(b) NO
(c) NEUTRAL
(5) Do you feel requirement and preferences of consumers needs to be considered while
designing and developing products for the enterprise?
(a) YES
(b) NO
(c) NEUTRAL
(6) Do you think leadership provided by managers gives impact on the sales and overall
performance of the business?
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(a) YES
(b) NO
(c) NEUTRAL
(7) Do you think that participation of employee's is taken in the decision making process of the
company?
(a) YES
(b) NO
(c) NEUTRAL
(8) Do you think that sales and performance of the company can be improved by adopting
strategic marketing approach ?
(a) YES
(b) NO
(c) NEUTRAL
(9) What are the areas where company needs to make improvements in its existing
performances?
(a) Sales
(b) marketing
(c) operations
2.2 Undertaking the proposed research investigation in accordance with the agreed specification
and procedure
Major objective for conducting the study is to identify the ways through which
performance, sales and operations can be improved. Research methodology has been designed in
such a manner so that methods can be analyzed for improving the existing performance of the
business. Descriptive research design has been selected for completing this study and it has
supported for carrying out in depth analysis of the present topic. In addition to that interpretivism
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research philosophy has been used in which interpretation of the data and information has been
done for completing the research. In the present research study major aim of the researcher is to
assess the ways through which performance of the organization can be improved. Primary and
secondary data and information has been used for completing this study. Primary data has been
collected through questionnaire method. Secondary data has been collected from books, journals
and online articles and other resources.
2.3 Data analysis
For conducting the present researcher study primary and secondary data and information
has been used for accomplishing the goals of the research study. Questionnaire method has been
selected for collecting primary data and it has supported for completing the objectives of the
research study. In addition to that secondary data and information has been collected from books,
journals and online sources. It will aid for identifying the areas in which performance of the
organization can be improved. Moreover, it will also help in assessing the ways through which
improvements can be made in the existing performances of the business.
TASK 3
3.1 Research evaluation techniques
Research methodology :- this method supports in presenting the information that has
been gathered through data collection method. Areas which will be covered includes :-
Research approach :- There are two major type of research approaches that are being
used while conducting the research (Reynolds, Creemers and Teddlie, 2014). In inductive
approach researcher enable to conduct new theories that will be helpful for managing and
analyzing the data and information that has been collected from the research. It will also aid for
evaluating the performance of the organization and identifying weak performing areas.
According to the conclusion received from the research study improvements can be made in the
identified research areas. Inductive approach gives emphasis on one particular theory where as
inductive approach makes involvement of more than one theories.
Research Philosophy :- This philosophy is based on the assumption in the research that
has been carried out by the investigator. Major philosophies that are used while carrying out the
research includes interpretative and positivism (Mackey and Gass, 2015). Data nd information
collected from, the employees will be used for interpreting and evaluating the existing
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