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Identify how effectively and efficiently your chosen company is run. To produce a report based on your findings on the performance of the business.

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Introduction

Business at work Section 1 Introduction Aim: To identify how effectively and efficiently your chosen company is run. To produce a report based on your findings on the performance of the business. The business I have decided to investigate is Karen Millen. It is one of the UK's most successful retailers of woman's fashion. Its main products are womenswear, footwear and accessories. Karen Millen operates under one business structure from concept through raw material purchasing, production and distribution to the actual point of sale. The focus on design continues throughout all aspects of the company. The market within which it operates is eighteen to forty year olds, the clothes range from young stylish casual wear to smart evening wear. The company's mission statement is "We provide our customers with the best value for money through the most convenient shopping experience". Classification of business Karen Millen is a private limited company. It has two founding partners: Karen Millen and Kevin Stanford. ...read more.

Middle

It also has franchisers which take a percentage of the profits but only from the stores in which they own. Advantages of having a private limited company is it is run by the directors and owners of the business so they know exactly what is going on. It will be protected by limited liability and all the profits will go to them. Disadvantages of having a private limited company is if anything goes wrong the partners will have to pay and debits will be sent to them and they could lose their homes. The company also has franchisers, advantages for having a franchisee is they will have a well known name and logo, gains from national advertising and they are simple to set up. Disadvantages of having a franchisee is it could require a large capital outlay, it has limited scope for individual action and you would need to monitor and control the company. Business Objectives * To achieve efficiency of operation, convenience and customer service in our stores. ...read more.

Conclusion

Karen Millen is meeting all of the objectives that it has set. They have achieved these by providing good quality service, by making sure the products are off a high quality and the customer service within the stores is excellent. The company also makes sure the staff have a good working environment by giving them benefits whilst working their and making their work enjoyable. Since the business has started the partners have made sure the design, manufacturing and retail process is done under one business structure. This makes the efficiency of the operation well organised. The company hasn't failed and is expanding more and more everyday. There are a few conflicts between the objectives of the company such as between making a profit and providing services to the community. If the community is small the demand for a service will be low because the prices are high and it's a clothes retailer. If the company increases the prices of the products it will cause a conflict with the customers. Profits will only be made if the shop is situated in a larger community. Derryn Evenett ...read more.

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