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Business studies Coursework - Study of a small established local business

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Introduction

Business Studies Controlled Assignment For my investigation of a small established local business, I decided to investigate RK News, which is a local business located on the busy new cross road. The reason why I have selected this business is because the location of the business has the capabilities of maintaining a stable flow of customers from the local community, the large amount of passers-by as well as students from the surrounding college and university. From observing the store fascia which is located above the door, I found that the store sells various products such as tobacco, confectionery, alcohol, top-up cards, bus passes, ATM machine access, which from doing at other businesses I found that it was a service that none of the other nearby stores provided. The store also has a banner outside that says "cards for all occasions" which tells me that they have a wide range of cards available for purchase. For a small store, this is a wide range of products/services to provide and things such as ATM access and various cards in the store area unique selling point. This is one of the competitive advantages of this business and I think that if the improvable areas are put into major development, this business could be more profitable and earn more revenue. ...read more.

Middle

From those results, I can see that a large amount of people (50%) thought that the customer service was satisfactory and a small amount of people thought that the customer service was good. The result also shows that a third of people thought of the customer service as unsatisfactory. This tells me that there is some room for improvement here. The reason why I asked this question is because I wanted to know exactly what it was that attracted people to this store; so that I could see if there were areas that could be improved such as the store lay out which from these results does not attract people currently. What I found was that the most selected option was "The store is on the way to work/school" this tells me that a lot of the store's income is from passing trade. I then used that information obtained from the questionnaires to see what areas of improvement there were and I designed a questionnaire to find out what the store owner was doing to utilise the potential of the store and if they had already noticed and/or worked on areas in which the store could improve. These are the questions that I asked him and his responses: Do you like the location of the business? ...read more.

Conclusion

* They should change the colour of the celling changed from green to cream, to further improve the distribution of light in the store. This would help to lighten the mood of people that go to the store and think better of the store atmosphere. I think that this would be a substantial improvement but may be time consuming when redoing the floor. The store is quite small and because of this, I do not think that re-paining the roof will be an expensive development, whereas the floor could cost a greater amount. * They should also have a limit on the amount of students allowed in the store. From looking at the size of the store, it would be most suitable for a limit of 6 students at a time. This would not only make the store less crowded and cramped but it would make the store easier to navigate and would help to discourage the shoplifting that they are experiencing problems with as the owner said in the interview. This would not cost anything to implement apart from a simple sign on the door and a member of staff to manage the flow of people. I have made my improvements based on the information that I obtained through my various types of research, and the points stated above are my final recommendations. I think that the store overall will improve if these ideas are implemented and be more welcoming to new customers. ...read more.

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