Business Communication Report: Myer Holdings Ltd Financial Analysis

This report provides a comprehensive analysis of Myer Holdings Ltd's business communication strategies and their impact on the company's financial performance. It begins with an introduction to business communication and its importance in achieving organizational goals, followed by an overview of Myer Holdings Ltd, an Australian department store facing challenges such as declining sales revenue, increasing debt, and a fluctuating share price. The report identifies key customer segments, including store customers and investors, and explores financial data, including market capitalization and share price movements. It then delves into strategies employed by the company to improve its situation, such as focusing on the middle and high-end classes, leveraging technology to enhance customer experience, and adopting a customer-centric approach. Recommendations include analyzing the market and competitors to gain a competitive advantage. The report concludes that with these new approaches, Myer Holdings Ltd can improve relationships with customers and investors, ultimately transforming its market image through effective business communication, supported by references to relevant sources.

Title: Business Communication
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Introduction
Business Communication is an aspect which is
utilized to fulfil the goals of an organization.
With the help of this medium, an organization
informs the targeted customers about its
policies, rules, and regulations (Knight, 2013).
With the help of effective business
communication, an organization can establish
strong goodwill. In this assignment, the main

Company’s Background
Myer Holdings Limited is Australia’s one of the
biggest department store organization. The
company has more than 60 retail stores in
different locations across Australia. The
organization offers products catering to the
different needs of the diverse audience from
women to men to children. The organization
subsidiaries include Myer Pty Ltd, Myer Group

Problem Statement
Some of the reasons behind the
turbulent position of the organization in
the market are –
Increasing
reduction in the
sales revenue of
the organization.
According to the
2019 reports, the
sales revenue of
the organization is
down by 2.8%.
The decrease in
the sales revenue
is due to the
reduction in the
store's sales,
which is now down
by 2.3%.
The final cause of this
turbulent phase is due
to the increasing debt
of the organization.
Myer Holdings Limited
has a debt of $95.4
million and the
organization’s net
debt is down by
approximately $57
million (Richardson,
2019).

Customer Segments
The organization targets a diverse
audience. But according to the
current circumstance, the two main
audiences which have to be targeted
with effective strategies are the
store customers and the investors of
the organization. The organization
needs to attract both these
customers, as it is essential to
balance the current financial
downfall in the organization, as by
increasing the customers of the
organization and the investors in the
organization, the Myer Holdings
Limited will be able to transform its

Financial Information
Market
Capital
of Myer
Holdings
Limited
is $529
million.
The
share
price
moveme
nt of the
organiza
tion is
decreasi
ng by
0.77%.
The
Organiza
tion’s
Day High
is
$0.660,
whereas
the Day
low is
$0.635.
According
to the
Australia
Stock
Exchange
information,
the current
share value
of the
organizatio
n is $0.64
(Investsmar
t, 2019).
Some of the crucial financial information
about the organization –

Strategies to ImproveThus, with all these different problems, the
organization is experiencing a downfall and
therefore, it has to utilize effective business
communication to transform the image of the
organization in the market. Also, business
communication is essential in the current times to
change the perception of people about the current
state of the organization. Some of the strategies of
the organization for the future are –
The Myer Holdings Limited was mainly developed
for offering good quality services to the middle-
class people, but with the changing times, the
organization lost their base and then, were filled
with humongous confusion about who its real
target audience is. This also impacted the
organization’s brand identity. The organization has
now main a final decision of having the prime
focus on the middle-class people and then on the

Strategies to Attract
The organization is utilizing
technology, to enhance the
customer experience. With
the help of technology, the
main objective of the
organization is to offer a
more seamless shopping
experience, along with
increasing the involvement of
the customers in the Myer
Holdings department store
(Williams, 2019).

Strategies to SustainThe current approach by the new CEO of
the organization, John King, of openly
displaying their approach to the
customers will help the organization in
developing an environment of
sustainable development. The CEO of the
organization informed the customers
that the main objective of the
organization is to offer the highest
priority to its customers. This highlights
the effective utilization of business
communication by the organization.

RecommendationsThe final recommendation
to the organization is to
analyze the current market
situation and the current
competitors, as to increase
the sales of their
organization, Myer
Holdings Limited requires
strong competitive
advantages.

Conclusion
With all these new approaches of the
organization, Myer Holdings Limited will be able
to improve its relationship with the customers
and the investors. The organization needs new
investors too, to reduce their net debt, which
will result in humongous problems in the future.
In addition to this, the different strategies will
definitely help in transforming the image of the

References
Investsmart. (2019). Myer Holdings Limited. Retrieved from
https://www.investsmart.com.au/shares/asx-myr/myer-holdings-limited
Knight, M. (2013). Usability and Business Communication. Business Communication
Quarterly, 76(4), 395-396.
Richardson, T. (2019). Why the Myer share price is soaring today | Motley Fool Australia.
Retrieved from https://www.fool.com.au/2019/03/06/why-the-myer-share-price-is-soaring-
today/
Sands, S., & Beverland, M. (2018). Myer once stood for the aspirational middle class but now
it's lost sight of who its customers are. Retrieved from https://theconversation.com/myer-
once-stood-for-the-aspirational-middle-class-but-now-its-lost-sight-of-who-its-customers-are-
91832
Williams, A. (2019). How Myer is leveraging technology to boost customer experience.
Retrieved from https://www.cmo.com.au/article/603811/how-myer-leveraging-technology-
boost-customer-experience/