Premium Essay

Stage 1 Ifsm 300

In: Business and Management

Submitted By Jeremysr6
Words 1026
Pages 5
UMUC Haircuts Business Analysis
University of Maryland

Abstract
UMUC Haircuts is a struggling business near the university campus. Myra Morningstar has expanded her business over the last 20 years to men’s and women’s hair and currently operates the three chair salon while employing seven part time employees. This outdated business suffers from a lack of organization amongst employees, lack of supply coordination, inventory management, lacks marketing and customer relations. New business within the area could potentially take clients away from UMUC Haircuts without proper change. Concerns
UMUC Haircuts has a steady customer return with scheduled appointments and many walk-ins. Due to scheduling conflicts with part-time employees the walk-in clients are often turned away. These clients can then go to one of the hair care places in the local area and this issue will dramatically increase once a the new Hair Cuttery opens up potentially taking clients away.
Inventory management is non-existent with employees using supplies when needed and orders only happening on a “remembered” basis. If inventory of hair care supplies is depleted, employees will not be able to satisfy the consumer thus ensuring their return. Supply chain management is also in need of assistance. Due to UMUC Haircuts sporadic ordering habits and often under pressure orders, the lowest price is not always attained.
UMUC Haircuts has no marketing plan in place and customer’s information is not recorded and no promotional offers happen. This too could potentially hurt a growing business. The business is trying to grow by adding a nail salon in the future.
Five force analysis
*Intensity of Competition/Rivalry – Hair Salons in the local area already provide the same services UMUC Haircuts offers. Currently, there is a nail salon directly across the street.
*Threat of new

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