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Retail industry SWOT analysis
SWOT analysis on supermarket
SWOT analysis on supermarket
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Although we were able to identify multiple issues with CVS Pharmacy, we decided to cover the topic of communication. More specifically between different levels of management, management not being on the same page in regards to the allocated budget, the frequent and sudden changes of management, different groups being given different messages, and the lack of understanding on how tasks should be conducted. When it comes to communication, one of the most important aspects would be how in-store managers communicate with corporate managers. If communication between these two levels isn't good, then the effectiveness of the store and the company will not be what it should be in order for it to be successful. This disconnect will often lead to the store manager (or equivalent level of management) to make decisions on their own that do not align with the overall company mindset, which could end up hurting customer experience …show more content…
Having more consistent personnel helps with team building and building trust with the employees that they manage. The employees will start to feel like they can go to their managers with an issue and feel as if that manager knows how to solve the issue because they have been there with the company through the multiple trials of time.
This does lead into our final recommendation that we believe CVS should incorporate and that is having an open door policy. The open door policy gives management as well as employees such as crew members the right to voice their opinions and observations. This helps with solving issues the minute the issue occurs. Performing a SWOT analysis provided insight into the strengths, weaknesses, opportunities and threats CVS currently has. This gives the company a good start in identifying where it currently stands, where it needs to go, and what it needs to watch out
Porter’s Five Forces Forces Grade Note Segment Rivalry Strong The current market is divided between a few powerful competitors that can relatively easily attract customers from one another as the switching costs are low and practical absence of product differentiation contributes to the easy loss of market share. Threat of Mobility Weak While the new entrants only need a relatively simple GUI and a supplier in order to enter the market, the federal and local regulations will require significant investments prior to any positive cash flow. Again, the differentiation is practically non-existent and the new entrants will have to compete with financially established enterprises capitalizing on competitive advantage. Supplier power Strong
Target must compete vigorously and fairly in the marketplace using our independent judgment to make the best decisions for the Company.
CVC pharmacy chain which is the largest drugstore company the United States of America made dramatic call and decision that received numerous debates and criticism worldwide. The globally trusted company made a controversial decision to take away the tobacco and cigarettes from their stores. The decision from the hugely known drug store company was indeed brave and strategic in consideration of the business ethics that they organizations wanted to maintain. Their decision was made public on February 2014 hence received many reactions from the agencies, governments, individuals, corporate and the media. Therefore, this paper will elaborate the significance of the strategic decisions made in the industry by examining whether the business decision
...y understand of why the change is needed. For example he can provide the employees with the pros and cons of the current process and how the new implemented changes will improve the organization.
Adopted from: CVS Caremark company website. Vision Statement: We strive to improve the quality of life. Mission Statement: We provide expert care and innovative solutions in pharmacy and health care that are effective and easy for our customers. Proposed Vision Statement: CVS Caremark’s vision is to improve the quality of life through convenient and cost-efficient offerings. Proposed Mission Statement: At CVS Caremark, our mission is to provide quality products and services through our pharmaceuticals and consumer products.
This case present a conflict between Macy’s and MSLO after developing a strategic partnership. Macy’s Inc. is one of the nation’s premier omnichannel retailers. The company operates about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Due to the high competition in retailing business Macy’s implemented in 2012 three-pronged business strategy to increase their sales and maintain their position in the market. This strategy was to enable Macy’s to reach both online and in store customers and provide them with a unique choice of merchandises.
One of the most important areas to consider is customer service. The atmosphere of a store
The problem of poor communication stems from an environment of high stress levels. After a consulting company scrutinized processes throughout the hospital related to care coordination and patient flow, the evidence was clear. The company identified areas for improvement around communication at many different levels. In order for patients to have a seamless transition from admission to discharge, the lines of communication needed to change. Daily face-to-face meetings were productive for the staff, hospital and overall satisfaction. The consulting firm worked for the hospital for several months, but as they departed, the prior culture of poor communication started to engulf...
Some core competencies that must be exploited are: Brand Kmart is an existing well-known and trusted national brand in USA Kmart has private label and designer clothing that is well endorsed Infrastructure Kmart has a large number of well-located, low-cost, leased stores in urban far away from competitors through out the country ( Appendix B ). Staffing Confidence by the market in Kmart is created by the achievements of its staff and management. With the turn-around strategy in place, new blood has been put into the top management structures. In any renewal there will be retrenchment as unprofitable stores are closed. This can be used as an opportunity to retain and move high performing staff to where they are needed and to get rid of non-performing staff. Anderson the chairperson of Kmart is well supported by Wall Street and the board of Directors. These new staff members enter the company with needed skills to address problems in certain areas that previously were poorly managed such as inventory control and merchandising. Store locations, layout and Performance Stores conveniently located away from competitors like Wal-mart and Target therefore less to compete for customers face-to-face. There are 250 non-performing stores who have already been identified as being more cost effective to close than continue with running costs. Expertise exists in-house for the planning of store layout and appearance to meet different customer segments. This concentration of effort will enable focus on key areas Technology Kmart has already invested in good retailing systems. The system can be use to control inventory, supplier payments, track customer buying and monitor income versus profit margins across all stores. Research and Development The planning department is well established and in cross-functional to provide various perspective. The planning department to ensure that strategies at all levels are executed can further use the access to past data and knowledge of changes in buying patterns. Financial Backing JP Morgan Chase has agreed to support Kmart to avert the current threat of closure due to bankruptcy.
There is also no form of standardized training throughout the organization. Employee morale and employee relations are lower than should be expected, due to miscommunication and lack of an established strategy. There is an absence of consistency in various ways regarding branding and identity as well. No two stores appear to be alike, names vary and locations are unpredictable. Customers also complain that the menus are inconsistent. It is also evident that reliable communication is lacking. For example, GC3 has customer comment cards, but, as the case study explained, GC3 management is not sure if they are being reviewed or taken into consideration. More so, GC3 remains unclear if they are considered one company, or three separate companies. GC3’s product portfolio is becoming stagnant, and there is an apparent need to refresh the menu and align it with their competitors. Profits are falling behind, and there is nothing in place to enable GC3 to understand what products and what stores need to be evaluated. Lastly, GC3 management is becoming disgruntled. This aggravation is evident within the Pittsburgh locations. Due to this insubordinate behavior, corporate culture in the Columbus locations has started to
For example, in cities like Los Angeles, Houston, New York, Chicago and San Francisco I would make all stores bigger and widen the selection. Most people like myself go to 7-Eleven if they are either on the road or just need something quick. If I was a key exec, I would want us to be more than that. I would try to tap into the demographic that goes to Walgreens and Rite Aid and become even more of a convenience store. I would introduce new products that become synonymous with our brand in the mold of the 7-Eleven
The manager will have to feel comfortable with their employees and have a good understanding of them and decisions that they are making so that he/she doesn't fall behind on what the business is doing. They will need contin... ... middle of paper ... ... communication within stores would make the employees feel more part of a team. If sainsburys were to relay less on post-it notes stuck on walls and actually speak to individuals about issues in the store I think employees would feel happier.
For example, how are customers treated? How open is communication? For example, how difficult is it to interact with senior management?
Wal-Mart Stores, Inc. is a renowned retail goods superstore that sits atop the Fortune list at number one. It would be very difficult to find an individual who is unaware of Walmart’s position as the largest brick-and-mortar retail chain in the world. The company has thrived over the past few years and is continuing to grow by effectively managing its store operations and distribution strategies. One of the major contributors to the business consistently meeting market expectations is directly attributable to their management approach. Walmart has revolutionized the way retail companies manage their supply chains in more ways than one. But, perhaps the most revolutionary was the practice of unprecedented coordination with suppliers (Chekwa,
In this report, we adopt SWOT analysis to determine the strategic fit between the company’s internal, distinctive capabilities and external threats in the current market. Recommendations were provided in the later part of the report on the possible approach to tap on external market opportunity and our suggestion to resolve current issues faced by the company.