"Moving Mountains at Marks and Spencer"
TBS908 Supply Chain Management Assignment 2 "Moving Mountains at Marks and Spencer" Marks & Spencer Situation Analyse and Suggestion Present by Alfred Yeung (2898354) Business Advisor, Global Logistic Contents Contents 1 Introduction 2 Background 3 Reason of Current Situation 5 Affect of Overseas Sourcing 9 Preparation of Overseas Sourcing 12 Supply Chain Management Strategy 14 Strategic Alliances 17 Conclusion 19 Reference 20 Introduction Marks and Spencer as the internationally well known department store, was once represented the 'quality, service and value for money' and having turned in record profits for 1998. Marks and Spencer's supply chain management strategy "Partnership Approach" was a textbook favourite and the topics of numerous magazine articles. Suddenly things shifted dramatically, Marks and Spencer was no longer the high expanding and the leading retail company. The fast changing market environments turned Marks and Spencer in very bad situation, the profit drop, customers' dissatisfaction, and suppliers' relationship broken. This report is going to study the following questions: . What is the reason for the current situation at Marks and Spencer? 2. Has increased overseas sourcing helped or hindered the marketplace performance? 3. Given that costs must be reduced, how can Marks and Spencer capture the potential benefits of low-cost
In this section I will explain every one the different types of business ownership. Also I will give details about the advantages and disadvantages linked with each.
In this section I will explain every one the different types of business ownership. Also I will give details about the advantages and disadvantages linked with each. The different types of ownership that I will consider are: * Sole trader * Partnership * Private limited company * Public limited company * Franchise * Charity limited by guaranteed After I have studied the types of business ownership, I will explain the type of ownership Tesco and Chester Zoo have and why. After I have than this I will suggest possible alternative ownerships and how these different ownerships may affect the companies' performance. Sole Trader A sole trader is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. All profits and all losses accrue to the owner. All assets of the business are owned by the proprietor and all debts of the business are his debts and he must pay them from his personal resources. This means that the owner has unlimited liability. The advantages of being a sole trader are: - The firms are usually small, and easy to set up. - Generally, only a small amount of capital needs to be invested, which reduces the initial start-up cost. - The wage bill will usually be low, because there a few or no employees. - It is easier to keep overall control, because the owner has a
Business ownership.
Assignment2- Unit 1c Business ownership There are many different ways of owning a business. Here are the ways in which all the business around the world are owned: * Sole trader * Partnership * Limited companies * Co-operatives * Franchises * Public sectors Those are the ways in which all business is owned. Now here is a brief description of what they involve: Sole trader- almost all of the business in the o.k. Are owned by sole traders. Sole traders are individuals who have set up a business on their own. If you are a sole trader you have 100% control over what happens in your business. Sole traders are usually small business, which could range from florists to accountants. If you are a sole trader you have unlimited liability. Unlimited liability is when you are responsible for paying al of the debts in which you may have run up. If your business as a sole trader fails you will have to pay your debts or if you don't you will become bankrupt. The best thing about starting up a sole trader business is that you are your own boss, you don't have to share your profits out and it is relatively easy and straightforward to set up. But being a sole trader does have bad points about. To start with it is risky if you aren't sure what you are doing. You can lose everything think you own if your business goes under because you have unlimited liability. Last of all you work very
Investigating Business - School Shop
Unit2 - Investigating Business School Shop Introduction My school has decided to start up a new school shop to be run by the sixth formers. The shop will be in the school but is still in its early stages and needs help to be set up. The head has asked me and some other fellow students to help with the start up of the shop. They feel it will give me an insight into how a business is set up and run, but also the problems that a business can encounter. I will have to produce a name, logo and objectives for the company whilst running the start up of the business. Start Up I have chosen to call the shop "Hayes Days" this is because it's clear that the shop is related to Hayes, it is catchy and easy to remember, and it rhymes which means it will be quite easy to advertise. Slogan & Logo: Smart Objectives: Specific Measurable Achievable Realistic Timing To break even by Christmas To Have 30% of the school visit the shop within the first 2months To Have 10% of the school buy something every week after the first month. Hayes Days sells: I have decided the main focus of the shop will be on Milkshakes & smoothies which are made from fresh fruit as a healthy and tasty option for students. Sandwich wraps will also be sold as an alternative to canteen food. Mission Statement Our mission statement as a school shop is to provide healthy quality food at convenience for
Business Studies- Unit 1- Stakeholders
Daniel Hardman. A04- Stakeholders The fundamental definition of a stakeholder is a person, group or organisation that is affected or can affect a business or organisation’s actions, beliefs or objectives. There are two main types of stakeholder- internal and external. The title of ‘Stakeholder’ is usually a title given by the stakeholder them self, although all stakeholders are affected by and affect an organisation in different strengths and in completely different ways. As the name suggests, internal stakeholders are those that work within the business and are benefited by such factors as profitability and stability. Examples of this type of stakeholder include employees, managers and directors. The first internal stakeholder that I will explore is the employee. Employees are individuals that are employed to work for either a single person or whole organisation under a contract of employment. A contract of employment can be written, oral, implied or expressed but is always the terms and conditions in which an employee must work under to receive an agreed salary or wage. In every contract of employment, it is always agreed that the employee is obliged to carry out allocated tasks and assignments to his/her best ability. On the side of the employer, there is always the obligation to protect his/her employee from harm and to compensate their employee with an equal
Setting up a car sales garage.
Business Studies Coursework Introduction I am going to set up a car sales garage It will sell and buy cars (New and Used). We will repair and modify cars. I will import parts from companies such as HKS (Engine Management), Streetglow (Neon) And Turbonetics (Engine Upgrades). We Will Be Set Up In The Newcastle City Centre near the Existing Garages to Increase Competition and to Increase Advertisement. I Will Form a Partnership with Andrew Veitch. He Will receive A Share Of 35%. I Will Have Control With 65%. A Partnership Consists Of 2-20 People Each Of Whom Will Sign A Deed Of Partnership. The Advantages Over A Sole Trader Includes: * Better Input Into The Business With Wider Range Of Ideas * More Capital Invested Between Shareholders * More Constructive Ideas With Understanding Disadvantages I Might Face With A Partnership Are: * Disagreements May Occur Between Partners These Might Slow Decisions * If Someone Dies The Full Business Must Be Reformed * Each Partner Has Unlimited Liability ( Lose Possessions If Bankruptcy Occurs) I Have Chosen This Type Of Business Over Limited Companies Because It Is More Befitting And Is Easier To Operate And Everyone Has Individual Input. I Have Chosen Not To Become An Ltd Because This Type Of Business Would Need Shareholders Of Whom Could Take Control Of The Business And Would Want A Return On Their Investment. The Amount Of
Communications in a business - examples from NEXT
Internal Communication It is important that a business has several means of communicating within the business. Different department inside NEXT need to communicate with each other so they are aware of changes and problems within the business. If all departments are communicating well with each other the NEXT will be more efficient as the departments will have the same information. The methods of communication: . Telephone 2. E-mail 3. Presentations 4. Agendas information on what is going to be discussed 5. Minutes information on what has been raised and discussed 6. Intranet 7. Memos 8. Video 9. Newsletter All departments within the business will communicate using the telephone .This is the most common form of communication as it is the most accessible. The finance function at NEXT will use the telephone to complain to suppliers when there is a problem with an invoice. For example: if NEXT have ordered 100 sweatshirts and were charged for 200 then the finance department will have to contact their supplier to inform them of the mistake. The telephone is a good way to communicate in this particular case because they will be able to talk to someone and tell them about the mistake directly. Also, if they sent an e-mail they would have to wait for a reply and this will take longer so the telephone would be the quickest method to use. The customer service
Safeways unit 1
SAFEWAY : Ownership of the business Safeway is a public limited company (Plc), meaning their business has shares for the public to buy on the Stock market. Shares of the company can be floated and then traded on the stock market. Therefore any member of the public can become the owner of their part of the company. This also means shareholders who own part of the company's share are taking a risk, such that if the company are suffering from any financial losses and goes in to liquidation, that shareholder will be in loss. However, the owners have legal liability to only the value of their initial investment, therefore the owners cannot be forced to surrender personal wealth. They could offer their share to the public through Stock Exchange. There are advantages and constraints of Safeway being a public limited company (Plc). The advantages are, The greatest advantage of Safeway being a public limited company is that, owners have limited liability which means that owners are not liable to the company's debts, only their initial investments into the company. Safeway being one of the major retail stores in the UK, take the form of multiples (company with many branches and stores), which have steadily grown over the years by acquiring other new stores. This is though issue of shares for sale in order to acquire capital for expansion to fund new projects, instead of only
Business Studies- Unit 1- Business Ownership
Daniel Hardman. A02- Business Ownership When a business is being set up, the proprietor(s) will decide what type of business ownership to follow. Business ownership will alter for expansion, liability and legal purposes. In this assignment, I will be addressing each category of business ownership, giving advantages and disadvantages in addition to business examples. There are six different forms of business ownership, these are: . Sole Trader 2. Partnership 3. Private Limited Company (Ltd) 4. Public Limited Company (Plc.) 5. Franchise 6. Co-operative Sole Trader A Sole Trader is any business owned and controlled by one single proprietor. Although the business may only have one owner, the sole proprietor may employ secondary workers. Sole traders do not have a separate legal existence from their owner. Consequently, the owner is personally liable for the business’s debt which may have to be paid out of the owners’ personal capital- this is called Unlimited Liability. The first thing needed to start a sole proprietorship is to document your trading name. As simple as this sounds, one must be very cautious about choosing a name as the wrong name can get you into difficulties. If you are going to work under an alternative name to your personal birth name you must display the name of the owner and an address where documents and records can be served and at your
Business Studies Coursework: Creating a business
BUSINESS OPPORTUNITY 2 2 SWOT ANALYSIS 2 3 MARKETING PLAN 2 3.1 MARKET RESEARCH 2 3.2 PRODUCT 2 3.3 PRICE 2 3.4 PROMOTION 2 3.5 DISTRIBUTION 2 3.6 PACKAGING 2 4 OWNERSHIP 2 5 LOCATION 2 6 HUMAN RESOURCES 2 6.1 MOTIVATION 2 6.2 INDUSTRIAL RELATIONS 2 7 FINANCIAL PLAN 2 8 CONCLUSION 2 9 ADDITIONAL 2 Business Opportunity My business idea is to open up a shop and Internet service providing services such as home delivery in order to ensure a pleasurable experience for the customer, hopefully giving them reasons to return. I enjoy following the latest fashions and therefore feel that a business selling items of clothing and accessories would be a good option for me. As there is generally a lot of competition when it comes to garments such as skirts, trousers, tops etc. I have come to the conclusion that it may be wise to open a shop that sells coats/ jackets as well as accessories such as hats, scarves, sunglasses etc. There is not too much competition in the market for a shop that specialises in such things and I feel that my enthusiasm in this particular area will work well to my benefit. In order to make this business a success, certain skills are required. I have experience of working in a shop and dealing with customers. Good communication skills are a necessity if a business is going to survive and customers are going to return. If you appear rude
