...Phillips Furniture Case Baker College Phillips Furniture Case There are many things that need to be done in a small company that has found its business growing, adding more buildings, more employees and locations. This paper will show how to grow the company through the HR department in order to keep the company growing as well as maintaining the same management style in each and every store. In this case furniture store. What to Focus On The first thing should be a mission statement. Mr. Phillips and all of the management should sit down and discuss the purpose and objective of the store. With this it should lay out a goal and objective for the company that will explain to the employees what the company stands for, and where it will and should head into the future. It must lay out the objective that can be reached for each and every employee from management to hourly employees. Develop a Job Description One of the first and foremost things that need to happen from the Human Resource side of things is to lay out employee and management job descriptions. This is very necessary for the furniture retailer to grow. This is something that needs to be clear and concise and across each and every store. These job descriptions must be the same in order for the store to run smoothly. The job description of each position should be laid out clearly so each and every employee know what their job is and what is expected of them. As they...
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...SUPPLEMENTAL CASE: Chapter 1 Case: Phillips Furniture Ten years ago Albert Phillips opened his own retail store and sold unpainted furniture. His store was located in Lakeside, a small city in the southeastern part of the United States. Although his business was somewhat slow first, it grew steadily. Many more sales, stock, and clerical personnel were hired. However, it soon became evident that Mr. Phillips was not able to effectively service all potential customers. Warehouse space was also badly needed. Phillips Furniture Store was situated in a central location, and Mr. Phillips was hesitant about relocating. As an alternative to relocating, Mr. Phillips opened a satellite store in an outlying district to attract a new source of customers, as well as to provide better service to his current customers. Mr. Phillip eventually expanded his business into several neighboring towns until he had a total of six stores. When Martin Furniture, a small manufacturing firm that supplied some of the furniture for Phillips, became financially unstable, Mr. Phillips was able to gain control of the manufacturing plant. At the end of last week, you were called into Mr. Phillips’ office, and Mr. Phillips said, to you, “I have been pleased with your progress with us as a management trainee since you graduated six months ago.” He explained that he felt that the company had gotten large enough to need a personnel manager. Previously, all managers handled...
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...1. Business Overview Courts PLC began expanding in the 1960s and had outlets in more than 9 countries. Courts was first established in Singapore in 1974 and in Malaysia 13 years later. In the early 2000s we saw the bankruptcy of Courts PLC where subsidiaries were sold to investors to repay the debts. Courts Asia Limited (Courts) was later independently formed and it is now a leading retailer in Southeast Asia for Furniture, Electrical Appliances and IT Products. Courts Asia is predominantly understood to be a retailer of home appliances and IT products. But unlike normal retailers which earns a profit by simply selling technological products in its stores, Courts Asia’s income stream is markedly different as they focuses on selling furniture and providing consumer with other services as well. Base on the breakdown of sales of goods we can see that their main business focus are still on the electrical and IT products. And furniture is one of their product differentiator as compare to their competitors in alignment with their mission statement of making “aspirational home products easily affordable” Chart 1 shows a breakdown of sales and goods. Today, Courts Asia Ltd has operations in Singapore, Malaysia and Indonesia. Singapore remains the core market of focus as it has the highest contribution to the Group’s net sales. 2. Industry analysis List of Top 3 Companies by Market Share (Retail sales) We see the list of electronics and appliances in Singapore...
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...COMPANY HISTORY IKEA was founded in 1943 by Ingvar Kamprad. Its first store was opened in 1958 in Almhult, Sweden and its flagship store opened in Stockholm in 1965. By 1965, IKEA was a well loved household name in the home of many Swedes. The company’s corporate slogan was “‘Low price with meaning’” (Moon, 2008, p. 24). Its main objective was to challenge the status quo by producing a good product at a low price with the development of innovative and cost-efficient methods. Beginning in 1969, IKEA began to expand its business into additional foreign markets starting with Denmark. IKEA continued to provide its consumers with quality products by utilizing “high-quality materials on the furniture surfaces that were visible and …lower-quality materials on surfaces that were low stress and less visible to the consumer” (Moon, 2008, p. 23). This idea was well received by its consumers and helped IKEA maintain a competitive advantage within the furniture industry. By 1984, IKEA had expanded into 16 different countries with over 167 stores (IKEA Timeline, 1999-2008). IKEA made its debut appearance onto U.S. soil in 1985 with its first store in Philadelphia, PA. From 1997 to 2001, IKEA’s revenue had doubled in the United States from $600 million to $1.27 billion. By 2002, the United States was IKEA’s third largest market and housed 14 of IKEA’s stores (Moon, 2008, p. 27). IKEA’s goal is to have 50 stores in operation in the United States by 2013. SWOT ANALYSIS Strengths...
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...Guillermo Furniture Store and Pro Forma Analysis Guillermo Navellez, once the owner of the largest flourishing furniture store in Sonora, Mexico faces globalization and the emergence of foreign competition. Inexpensive labor and the abundance of timber in Sonora are major factors, which contributed to the manufacturing of the store’s furniture. Guillermo faces new competition that possesses advanced technology with the ability to manufacture faster and at lower costs. With the emergence of this sophisticated technology, the company requires change to cease the decease of revenue and sales (University of Phoenix, 2012). Guillermo hires Jevaloch Consulting Firm, Incorporated to examine his current business forecast and choose strategies in optimal working capital. Additionally, Jevaloch will also provide an efficient pro forma budget and recommend an implementation plan. Guillermo Furniture Forecast Forecasting is an important tool for estimating the future market value for the business. Jevaloch consultants began the examination of Guillermo Furniture by reviewing a six month Figure 1.1 Budget Sales Forecasts. Figure 1.2 Actual Sales Forecasts. projection of sales forecast for units of chairs, the top sales item for the store, sold from January to June 2010. Figures 1.1 and 1.2 are representative of the budget unit sales and actual unit sales for Guillermo Furniture. The average monthly demands for the budget sales is 18,014/6 = 3002.3 and 17,997/6 = 2999.5 for...
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...efficiency and effectiveness’ Amit and Shoemaker (1993), namely: ‘stocks of available factors owned or controlled by the firm’. Capabilities: Helfat and Peteraf’s (2003, p. 1000) definition of a capability: an organization’s ability to ‘perform a set of coordinated tasks, utilizing organizational resources, for the purposes of achieving a particular end result’. Key Resources and capabilities: E-commerce – Tesco online shopping services Human resource over 530000 employees Financial capabilities annual turnover and profits Strong competencies in marketing and store sites selections Size over 6500 stores around the world Diversification- financial services, non-food items, Telecoms, banks Brand image and product offerings Growth through Acquisitions and partly through joint ventures Tesco has grown through acquisitions 1994 Tesco acquired 51% of Hungary owned grocery chain by 2004 it had 60 stores and 14%market share 1996 Tesco acquired Kmart in Czech Republic and Slovakia 1998 Tesco enters Asia by purchasing 75%of Lotus local food...
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...14 3.4.2 Brainstorming 14 3.4.3 Structure Interview 14 3.5 Risk Assessment 15 3.5.1 Human Reliability 15 3.5.2 Cause and effect analysis 15 3.5.3 Failure Mode Effect Analysis 15 3.0 Risk Register 16 Conclusion 17 Reference 18 Appendix B – Likelihood 21 Appendix C – Consequences 22 Appendix D1 – Detailed Risk Register (Risk : Very High) 23 Appendix D2 - Detailed Risk Register (Risk : High) 24 Appendix D3 - Detailed Risk Register (Risk : Yellow) 25 Appendix D4 - Detailed Risk Register (Risk : Green) 26 Figures Figure 1: Organizational Structure 4 Figure 2 : AS/NZS ISO 31000:2009 12 Figure 3 : Risk Identification Framework 13 Figure 4 : Risk Register Matrix 16 Figure 5 : Store Location Error! Bookmark not defined. Figure 6 : Store Format Error! Bookmark not defined. Figure 7 Likelihood 21 Figure 8 Consequences 22 Figure 9 : Detailed Risk Register (Risk : Very High) 23 Figure 10 : Detailed Risk Register (Risk : High) 24 Figure 11 : Detailed Risk Register (Risk : Yellow) 25 Figure 12 : Detailed Risk Register (Risk : Green) 26 1.0...
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...The B Café: J H S University Table of Contents Abstract ………………………………………………………….... 3 Part 1: Competitive Advantage ……………………………………. 4 Part 2: E-Business …………………………………………………. 10 Part 3: Supply Chain Management ………………………………. 14 Part 4: Customer Relationship Management …..………………….. 17 Part 5: System Development Life Cycle ..………………………….. 19 Web site Wish list ………………………………………………… 21 Remodel …………………………………………………………… 25 Menu ……………………………………………………………… 26 References …………………………………………………………. 27 Abstract The Broadway Café has been undergoing a particular decline in sales over the last five years. The Broadway Café was established in 1952 and has not achieved any changes since the doors opened. If the company was to make an about face and show some growth some immense changes need to take place. The Broadway Café will need to consider adapting Michael Porters’ Five Forces, as well as, establish which of the three strategies it will use to restore the company for the 21st century. There are more areas that will need to be looked into such, customer loyalty programs, employee concerns and maintaining a viable advantage over its competitors. The Broadway Café has to take to introduce information technology into daily operations and application programming interface in order to stay current in today’s market. An e-business strategy...
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...GLOBAL MARKET ASSESSMENT FOR HANDICRAFTS VOLUME I FINAL DRAFT JULY 2006 This publication was produced for review by the United States Agency for International Development. It was prepared by Ted Barber and Marina Krivoshlykova of Development Alternatives, Inc. GLOBAL MARKET ASSESSMENT FOR HANDICRAFTS VOLUME I FINAL DRAFT The authors’ views expressed in this publication do not necessarily reflect the views of the United States Agency for International Development or the United States Government. FOREWORD This paper was written as part of the Accelerated Microenterprise Advancement Project (AMAP) Business Development Services Knowledge and Practice (BDS K&P) research initiative. The AMAP BDS initiative’s major objective is “integrating micro and small enterprises into productive value chains to create wealth in poor communities.” The research draws on experience and insights from: • Interviews with leading handicraft buyers in the United States, the European Union, and the Caribbean, including importers and retailers currently sourcing from Haiti, those who have done so in the past, and those who source handmade products from other destinations; • Interviews with market experts, such as product development consultants, designers, enterprise development consultants, and marketing specialists who work with handicraft producers in developing countries; • Discussions with market experts and USAID at a roundtable conducted in Washington...
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...within the business environment. Companies that pride themselves on strong core values must be able to remain when branching into a new market; the culture must have an adaptable basis. Tolapp Corp mission statement emphasizes its operational and business objectives worldwide. The previous brand image of Tolapp Corp should play a huge role in this new business venture, the logo should show value and acquire its grounds by representing what competing organizations lack (Phillip Kotler, 2006). Trade analysis of this segment can place Tolapp Corp in a certain realm in choosing the mission statement, whereas several other factors are important from the reports like the market analysis for each segment for company’s operations, target consumers for the company and financial reports about competitors all included. Tolapp Corporation is a well to do manufacturing company located in Tennessee, USA that manufactures power tools, lawn mowers, lawn furniture, microwaves, and ranges. Tolapp Corp uses major department stores as local retailers Sears, Best-Buy and WalMart, these products are manufactured; the products are sold within the United States and Canada. Our marketing approach distributes through large retailers and pushes...
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...Week 2 Assignment Frances Emanuel ACC/497 – Advanced Topics in Accounting Research July 23, 2012 Robert Davis While reviewing Home Depot’s 2008 Annual Report, there are a lot of questions that can be answered. Questions regarding what the income statement includes, what it says about Home Depot, why it is important, and what decisions can be made from the financial statement. The same can be answered about both the balance sheet and the statement of cash flows as well. Each financial statement is important and useful in its own way and all of the three financial statements are beneficial for management within Home Depot. According to “Beginners’ Guide to Financial Statements” (2007), “an income statement is a report that shows how much revenue a company earned over a specific time period (usually for a year or some portion of a year)”. There are two different types of income statements, single and multiple and Home Depot uses the multiple-step income statement. With that being said, this income statement includes both operating expenses as well as non-operating expenses. By reviewing the income statement for Home Depot, it looks as though net sales, cost of sales, and gross profit have all decreased over the latest three years recorded. On another note the operating expenses and non-operating expenses have both increased over the latest three years. “The income statement shows revenues, expenses, gains, and losses; it does not show cash receipts (money you receive)...
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...congruent with its diversity plan. Situation Analysis: Strengths Strong brand awareness. Exclusive partnerships with named designer labels. Donates huge amount of profits to charities. Higher quality and innovative products than is found in competitor big box stores. Celebrity endorsements in advertising programs Weaknesses Emphasis upon quality makes their products more expensive than competitors. No stores in Vermont Lawsuits which tarnish the firm’s reputation. Low global presence Opportunities Global expansion Expand presence online. Expand targeted consumers by diversification Threats Online retailers i.e. Amazon Tough competition with discount retailers such as Walmart Shifts in economy that may push customer to other competitors High rates of employee turnover Dependent on US market The Target Corporation is a strong brand name. It is the 2nd largest general merchandise retailer in America. The red and white bull’s eye logo and personality symbol of the dog are immediately recognizable by customers. They have become an icon for all things stylish and cool in the world of big box stores retailers, partnering recently with designers such as Lily Pulitzer and Phillip Lim. They’ve been able to anticipate the wants and needs of their consumers and provide high quality and innovative products that...
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...ProHeat 2X ® USER’S GUIDE 8920, 9200, 9300, 9400 SERIES 3 Safety Instructions 4 Product view / Accessories 5 Assembly 6-17 Features / Operations 17-18 Maintenance 19-20 Troubleshooting 21 Consumer Services 22-23 Replacement Parts 24 Warranty Thanks for buying a BISSELL ProHeat 2X® We’re glad you purchased a BISSELL ProHeat 2X heated formula deep cleaner. Everything we know about floor care went into the design and construction of this complete, high-tech home cleaning system. Your ProHeat 2X is well made, and we back it with a limited one-year warranty. We also stand behind it with a knowledgeable, dedicated Consumer Services department, so, should you ever have a problem, you’ll receive fast, considerate assistance. My great-grandfather invented the floor sweeper in 1876. Today, BISSELL is a global leader in the design, manufacture, and service of high quality homecare products like your ProHeat 2X. Thanks again, from all of us at BISSELL. Mark J. Bissell President and Chief Executive Officer 2 16 IMPORTANT SAFETY INSTRUCTIONS When using an electrical appliance, basic precautions should be observed, including the following: Read all instructions before using your PROHEAT 2X®. To reduce the risk of fire, electric shock, or injury: ■ Do not immerse. ■ Use only on surfaces moistened by cleaning process ■ Always connect to a properly grounded outlet. ■ See Grounding Instructions ■ Unplug from outlet when not...
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...it has more than 700 stores in 50 different countries .Calvin Klein has participated in 49 RUNWAY PROJECT. Calvin Klein is also well known for fragrances, accessories such as watches and bedding, hosiery, table tops and furniture. Calvin Klein Inc. is currently owned by Paul Thomas Murry III "Anything I wanted to do, I did. If there's something I want to do, nothing stops me."-Calvin Klein History of calvin klein… History of calvin klein… Calvin Richard Klein was born to Flow and Leo Stern on November 1942, at Bronx, New York, USA. Klein was the second of three children. The family was well doing, while the grandmother was running a very successful tailoring shop. Calvin Klein finished his high school at “High School of Arts & Design “. Klein spent his early age, busy studying and sketching fashion designs and sewing. Flow (Klein’s mother), mostly encouraged his passion and love towards arts and design. Later, he moved on to persuade his higher studies at “Fashion Institute of Technology “and graduated in the year of 1962. For the first five years after the graduation, he worked as an apprentice in suit and coat house on 7th avenue in New York City. Klein with the help of his childhood friend (Barry Schwtz) opened the very first, Calvin Klein INC. at 1968 with the capital of $10000 loan and $2000 of his own money. Their first customer was actually by accident by a coat buyer from one of the largest New York City clothing store, Bonwit Teller. She placed...
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...RMIT International University Vietnam ASSIGNMENT COVER PAGE Course Code: BUSM 4092 Course Name: Applied Entrepreneurship Location where you study: Saigon South Campus Title of Assignment: Group Assignment File(s) submitted 1 Student name: Hoang Bao Chau s3298283 Vu Ngoc Thuy Bui Thai Han Pho Ai Hong s3324477 s3343702 s3296816 Learning Facilitator in charge: Mr Phillip Dowler G4 Assignment due date: Jan 04 2013 Date of submission: Jan 04 2013 Number of pages including this one: 30 Word Count: 20 pages for the main content, 10 pages for Appendix and Table of Content Lecturer: Mr Phillip Dowler Team: Unity Hoang Bao Chau Vu Ngoc Thuy Bui Thai Han Pho Ai Hong s3298283 s3324477 s3343702 s3296816 Group 4 - Semester C 2012 RMIT University | Applied Entrepreneurship | Feasibility Report 1 Table of Contents Executive Summary ............................................................................................................................. 3 A. I. II. III. B. I. II. 1. 2. III. 1. 2. IV. V. VI. 1. 2. VII. C. I. II. III. IV. V. VI. D. I. II. III. Business Idea ............................................................................................................................... 4 Opportunity: ............................................................................................................................. 4 Product and Service: ........................................................................................................
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