23 Jun Identify at least 3 challenges the organisation fac
Identify at least 3 challenges the organisation faces.
The three challenges that the organization faces, first is the financial challenges because the recruiting costs are increasing because their staff turn-over are increased. Every year they added new products, this means another costs for the face to face training and because other retailers are offering higher rates to their sales people, BB Hi-Fi needs to pay a higher rate too to avoid left behind from the market. The second challenge is the increasing of their competitors. It is possible that competitors are cheaper from their products or brand and they lose their customers. The employees might be moving to their competitors if the competitors are offering a high rate to their staff or employees. The third challenge that BB Hi-Fi facing is the falling of staff satisfaction. Their staff needs more working hours and looking for some career pathways.
2. Develop a SWOT analysis for the organisation.
Strengths
Business experienced
Strong customers based
Recognized or established business
Domestic market Weaknesses
Un-satisfaction of the staff or staff satisfaction is falling
Turn-over of the staff is high
Competitive market
Opportunities
New technology
Open new shop/store in some other places
New line of products
New market
Growing demand Treats
Competitors
Staff are moving to competitors
Rising cost of new brand
Technology are changing
Prices changes
–
3. Describe the opportunities for change you propose for each challenge or problem you have identified in Question 1.
– A tough decision to make for BB Hi-fi to overcome financial challenge. Maybe they can think of debt financing like loans, or update all their budget based on the costs as this will help to identify how much they actually need.
– BB Hi-Fi knows that they are not alone, they have a lot of competitors in the market and it always keep on increasing. Though this is very challenging in their organizations, managers must know the appropriate strategy to remain competitive and won?t left behind. Nonetheless, they must also understand the competitive strategies, their weaknesses and strength to develop a competitive product.
– To improve and stop their staff satisfaction falling, give them an incentive, reward their effort by increase their salary and address what they want by giving them a career progression opportunity if necessary.
4. List the stakeholders you will consult with to develop your changes. I
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