Business Context Sharp Retail Limited-Free-Samples-Myassignmenthelp

Question: Analyze the business contexts of a new business organization. Answer: Introduction The following paper is about analyzing the business contexts of a new business organization. The startup organizations face some challenging tasks to stand in this modern competitive environment. This assignment will focus to outline the marketing strategies, issues and challenges that this business organization will be taking. The name of this new business organization is Sharp retail Limited that will be operating in the retail industry. The retail industry is quite challenging one with the presence of the industry leaders like Woolworths, Wesfarmers and Coles. Overview of the organization This new business organization Sharp Retail Limited will be operating primarily in Australia as of now. This is because it is a startup organization with a very small amount of capital investment behind it. The headquarters of this organization will be situated in Sydney. The company will be run by a meager 45 employees. With the time and drive to run the company (Netemeyer,, Heilman Maxham III, 2012). I would like to look after the operations management of the organization. The organization will be very much active in selling all types of goods from food, clothes, soft drinks, toys, books and many other things. These are the basic information about the new startup organization Sharp Retail Limited (Blank, 2012). It will sell the general merchandise as well. The marketing strategies for this organization would have to be set with a farsightedness indeed. The main intention is to make more profits and earn more for the owners (Netemeyer,, Heilman Maxham III, 2012). Market size The top leader in this retail industry is Woolworths with more than 36% of the market share. They are followed by Coles group of supermarkets. My new startup organization is nothing nearer to them with only 1.5% of the market share (Amato Amato, 2012). However, I intend to increase this market share within the next five years around 10%. It is a challenging task but it is not impossible as well. I have to hire smart professionals who will be able to carry out this process in a better way all the time. Vision and strategy The vision of this new startup organization is To Serve Quality Products with Smile. The objectives of the organization are:- They want to become one of the strongest organizations in Australia in the retail industry. They desire to be the market leaders in the future as well. Sharp Retail Limited will serve the candidates with the best quality products all the time. New product innovation will be one of the major objectives of our company. Better service will always be aimed by our company. Industry overview Retail industry is supposed to be one of the most profitable industries in the world. I would like to set up my business organization in a way that I can get the profits from the domestic market in Australia. I would like to build my organization as an organized retail. As the retail industry helps the country to earn almost 14 to 15% of the GDP rate. This industry has a big growth potential so Sharp Retail Limited will look to grab the local markets with a rush. This is why this organization has a bright future (Amato Amato, 2012). Organization structure of Sharp Retail Limited As it is my dream project to build up this organization, I will need some experts in the retail industry to be my partner (Cohen, 2017). This will be a partnership business. My ambition is to stretch this organization into a bigger one because the organization needs to serve more people if I get all the positive resources indeed. As of now the building of the organization will be a two-storied at Sydney. This will grow bigger with time (Blank, 2012) The hierarchy of the organization will be divided between the finance managers, operation managers, teams aimed for production, infrastructure management, safety and facilities management and others (Ashkenas et al., 2015). The employees will be given their works properly divided and they will have to complete them properly. The Human resources management will also be an inseparable part in this process as well. The organization will hire the fresh candidates and given proper training by the industry experts (Netemeyer,, Heilman Maxham III, 2012). My target is to build a successful workforce in order to maintain the business well. The stakeholders of the company will be engaged in bringing out the best services from Sharp Retail Limited. This structure will suit my organizations set up since it is a new company. I need fresher workers to work for me because I will not be able to pay the amount of money to the experienced candidates (Ashkenas et al., 2015). Internal environment It is very important to understand the strengths, weaknesses, opportunities and threats to realize the internal environment (Hollensen, 2015). Strengths As of now, the organization has a good reputation among the customers. The organization follows low pricing strategies that will attract the middle and lower middle class customers. Actually, they are more in number. They provide the best quality products to their customers (Hollensen, 2015). The staff of the organization is very efficient. Weaknesses The brand name of the organization is not big till now. The structure is high cost because keeping so many managers needs a lot of spending. They do not have sufficient access to the key channels of distribution (Hollensen, 2015). Opportunities Sharp Retail Limited can expand into foreign countries sin the future. They can collaborate with other organizations to gain more profits. They can use technological devices to upgrade their business (Hollensen, 2015). Threats The new monetary and fiscal policies made by the government can affect the trade. If the trade barriers increase, this will be a huge problem for Sharp Retail Limited. The new technological changes will lead the organization to face the potential challenges. External environment It is important to give an outline on the PEST analysis to find out the external environment (Gupta, 2013). Political The political factors include the laws and regulations that are enforced by the government. The copyright issues, tax payments and safety rule will be important in this context (Gupta, 2013). Economic The economic factors that will affect the running of Sharp Retail Limited will be the availability of credit, inflation, recession and many others. Social The cross cultural factors are very important in the social context of the business organization (Thomas Peterson, 2017). It has to be reviewed whether there are any clashes between the cultures of the employees in the organization. Technological The newest technologies will have to be used in the organization. The digital marketing process will have to be utilized in the Sharp Retail Limited to avoid the problems that are faced regularly. This will lead to better customer satisfaction and fast delivery of the goods (Gupta, 2013). Risks of the organization This organization will face certain problems if the important things are not organized in the proper manner. Risk of product and market The retail market faces many risks including the product quality. Itr should not happen that the company is not able to answer their customers about the benefits of the product. They should be able to reach to the core target market of the organization. Otherwise, their selling point will not achieve its target (Reason, 2016). Financial risks Sharp Retail Limited will face some serious issue if they do not consider the financial risks properly. They should clarify all the financial issues with the suppliers, service providers, investors and other major stakeholders (Reason, 2016) Business practices Some important practices that Sharp Retail Limited should take up to avoid failure are to maximize the resources and engage in using technology to gain more information about the market (Howson, 2013). The buyer power and supplier powers have to be analyzed properly. They have to leverage their business networks as well. This will enhance their business performance and increase the organizational performance as a whole (Howson, 2013). Important functions in the organization There are some functions that Sharp Retail Limited should take up in order to improve the business performance of the organization (Mathur, Mathur Kenyon, 2012). They should decide which customer segments they are going to target. All the demographic and psychographic details should be gathered and decisions should be taken according to that. The key distribution channels should work properly (Mathur, Mathur Kenyon, 2012). The cost structure and revenues are needed to be revised properly to achieve the profits. The workers should set up good relationships with the customers (Bhat Darzi, 2016). The key stakeholders should be valued and value proposition should be given focus from time to time. These things will surely increase the business performance of the organization. Conclusion It can be concluded that the new startup retail organization Sharp Retail Limited will need to focus on the above mentioned things because they are still minor players in the industry. The retail industry is very competitive and the competitive advantage is very hard earned in this industry. The startup organization will have to consider all the key factors and utilize them to their benefit only. The customer relationship management will have to be very strong and they should adopt a proper marketing strategy that will be coherent to their success in the industry. References Amato, L. H., Amato, C. H. (2012). Retail philanthropy: Firm size, industry, and business cycle.Journal of Business Ethics,107(4), 435-448. Ashkenas, R., Ulrich, D., Jick, T., Kerr, S. (2015).The boundaryless organization: Breaking the chains of organizational structure. John Wiley Sons. Bhat, S. A., Darzi, M. A. (2016). Customer relationship management.International Journal of Bank Marketing. Blank, S. (2012).The startup owner's manual: The step-by-step guide for building a great company. BookBaby. Cohen, E. (2017).CSR for HR: A necessary partnership for advancing responsible business practices. Routledge. Gupta, A. (2013). Environmental and pest analysis: An approach to external business environment.Merit Research Journal of Art, Social Science and Humanities,1(2), 13-17. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Howson, C. (2013).Successful business intelligence: Unlock the value of BI big data. McGraw-Hill Education Group. Mathur, S. S., Mathur, S., Kenyon, A. (2012).Creating value: successful business strategies. Routledge. Netemeyer, R. G., Heilman, C. M., Maxham III, J. G. (2012). Identification with the retail organization and customer-perceived employee similarity: effects on customer spending.Journal of Applied Psychology,97(5), 1049. Reason, J. (2016).Managing the risks of organizational accidents. Routledge. Thomas, D. C., Peterson, M. F. (2017).Cross-cultural management: Essential concepts. Sage Publications.