Scenario
Argos Company, part of Homeretail Group (HRG) which is UK’s leading home and general merchandise retailer, plans to expand and open 200 digital stores aiming to increase the market share and provide better services to its customers.
You are required to produce a business report that investigates and justifies the expansion of the company considering a wide range of business aspects such as data collection, process information, decision making and stakeholders’ implications. Additionally, examine and evaluate current strategies and techniques that Argos Company is implementing to facilitate its expansion and strengthen its market position. (Hint! Consider the partnerships with Ebay and Sainsbury)
Task 1- Explain why Argos Company has decided to expand and how it can be achieved.
• Examine the range of decisions Argos Company needs to take and provide adequate information that justifies the decisions to be taken. [LO 1.1 & 1.2]
• Assess internal and external sources of business information to justify the Company’s expansion. [LO 1.3]
• Explore one challenge that Argos Company is presently facing and justify what can be done to improve the current situation. [LO 1.4]
Task 2- Understand how Argos Company establishes business relationships for effective decision making and is able to improve its business practices.
• Referring to appropriate theories and models, produce an initial list of 7 key stakeholders. Select 2 of them (stakeholders) and explain how to develop and maintain a successful business relationship. [LO 2.1 & 2.2]
• Where applicable, explain the role of stakeholders provided above within Company’s decision making process and the impact they have in relation to strategy formulation. [LO 2.3]
• Utilising the information collected from the research, produce a brief executive summary that can be applied to design strategies for improvement. [LO 2.4]
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