Strategy Essay Example | Topics and Well Written Essays - 500 words - 4

Strategy - Essay Example The supplier caters almost 35% of the requirements of the company that is huge and might put the company in jeopardy (Thompson, 2012). In the given circumstances, the company needs to take into account the adverse economic environment and formulate a successful corporate strategy to cope with the business complexities (Johnson et al 2011). Haberberg and Rieple (2008) demonstrate that a well-planned corporate strategy provides means to renew competitive advantage in line with the changing environment. Accordingly, it will be most appropriate to delve deeper into the existing toy market scenario. Italy, France, Germany, Spain and the UK constitute almost 73% of the total European toy market. Most of the supply of the toys in the Europe comes from China. The infant and preschool toy segments constitute almost 20 percent of the market – a largest segment in the total toy sales. Toy shops in the five major countries of Europe sell almost 40% of the total sales in toys (The Toy Sector in Europe, 2010). Furrer (2011) argues that the ultimate purpose of any corporate strategy is the value creation. In order to sail through difficult times, the company needs to adopt positioning strategy to earn higher revenues by using scarce and limited resources at its disposal (Besanko, 2010). Accordingly, the company will be benefitted by positioning to the fastest growing infant/preschool segment of toys and expand by capturing the imagination of this class of children. Porter (1985) argues that it is important to differentiate the product from its competitors so that it is valued by buyers and the uniqueness in the product is eventually rewarded through a higher price. Moreover, innovation is must to make product distinct and unique Grant, 2010). In order to ensure uninterrupted supply, suppliers’ evaluation and selection process needs to be done most meticulously (Sollish & Semanik, 2011) and therefore an effective and flaw-less sourcing strategy needs to be at

Description of the company as General Merchandise Store Essay

Description of the company as General Merchandise Store - Essay Example The company has also established a number of supercenters in major cities to meet the increasing demand for one-stop family shopping. These stores combine general merchandise and full groceries ranging from bakery goods, beverages, fresh seafood, fresh farm produce, condiments and spices, frozen foods, canned and packed foods, meat, and dairy products to dry goods and staples. Most of these are open 24 and have specialty shops like cell phone store, pharmacy, restaurants, hair salon, tire and tube express among others. The neighborhood markets bridge the gap between the supercenters and the discount stores by offering a limited range of general merchandise but a full range of health and beauty products, groceries, pharmaceuticals and photo developing services. The characteristics of the key players of a company have the potential of impacting on organizational behavior and this, in turn, will financial performance directly and indirectly. Because of this, there are some characteristi cs I would like to possess and would like to see them in other key players of the company like the chief finance officer (CFO) and the chief operations officer (COO). The first is having a vision. All the key players of the company must have a common picture of what the company aims at attaining. Having a vision will lead to the creation of a company where all employees work toward the attainment of a common goal. All key players should be self-less collaborators and team builders.... Having a vision will lead to the creation of a company where all employees work toward the attainment of a common goal. All key players should be self-less collaborators and team builders. These traits will go a long way into encouraging the spirit and mindset of teamwork and collaboration across the company among all ranks of employees. In relation to this, the key players should have strong interpersonal relationships. In businesses, especially retailing, people skills are as valuable as technical assets because of high levels of constant interpersonal engagement. This characteristic will therefore lead to the creation of a company where employees treat customers with the utmost respect leading to the best customer experience. The key players should also be of good character and highly ethical. This trait will lead to the creation of a company whose policies, procedures and business activities indicate a strict adherence to ethics. In addition, key players should have passion. Both employees and customers want passion if the employees embraced this character, it will lead to the creation of a customer-focused culture where everyone is willing to go an extra mile to give customers a passionate shopping experience. Analysis of motivational theories discussed and determination of how best to motivate company employees. The motivational theories discussed so far indicate a variation in views among psychologists regarding what best motivates workers. To some, workers are best motivated by pay, to others, workers are motivated by satisfaction of their social needs and to some, a satisfaction of psychological needs. However, it would be unfruitful to lay a framework for employee motivation basing on a single factor. For example, a