Challenges ahead in running department store business in China A case Dissertation

Challenges ahead in running department store business in China A case study on GrandBuy how to achieve sustainable growth - Dissertation Example Technology, in the form of ERP, SCM and even CRM are tools that will enable the organization to store data. The data generated by these software then becomes an information that can be related to other information in order for it to become tangible knowledge. Knowledge is then use to become the basis or intelligence for a working action plan to achieve a particular goal. Each employee in a learning organization is tasked if not has the responsibility to share their tacit knowledge to contribute to the organization’s explicit knowledge to sustain growth. Creating a learning organization is not a walk in the park, the challenges faced by an organization in its transformation to a learning organization shall be explored in this paper. ... ing and Leading Fundamental Change in Organisations†, Richard Beckhard & Wendy Pritchard commented: "It is no longer true that organisations can (1) Control their own destiny (2) Operate in a stable and predictable society." Therefore to have competitive supremacy, increasing profits and maximum control over company's destiny it is essential to innovate, learn quickly and respond quickly. This must be done by managing change within the organisation (Beckhard & Pritchard, 1992). This paper shall discuss the possible challenges of Guanzhou GrandBuy Co. Ltd. or GrandBuy for brevity as it transform itself from an organization that did not worry about profit or its bottom line to a learning organization that will enable them to sustain their growth without government intervention. They understood that good strategic management only exists with a good knowledge base within the organization. Therefore, GrandBuy emphasized on the need to upgrade the knowledge quality of the whole organ ization from management to staff of all levels. They strive to transform GrandBuy into a Learning Organization. In short, by being aware of the environment and trends outside the organisation and working with those within the organisation who are keen to make â€Å"change† a strategic approach will eventually pay dividends. "If we want things to stay as they are, things will have to change". Everybody appears to understand the needs for change without too much explanation. So the next series of question are what need to be answered in order for change to set in; who needs change; where does â€Å"needs† change and then how to change. By answering all these questions, the management needs to have a robust strategic plan. The next step is about implementation in the forms of policies, guidelines,

Marketing as an Aspect of Business Research Paper

Marketing as an Aspect of Business - Research Paper Example In addition, the marketing function of business is responsible for developing long-term growth and providing and communicating value. Marketing is a critical aspect of business because it plays a critical role in improving the success of the business. Production, as well as distribution, depends primarily on marketing. However, it is common for people to consider sales and marketing as the same thing. The two aspects are quite different; marketing encompasses business processes such as promotion, public relations and sales. At its core, marketing is the process involved in the introduction and promotion of products or services into a market. On the other hand, sales is the act of purchasing or the transaction of customers buying the business’ products or services. Since the purpose of marketing is to make a business’ products or services widely recognized to the market, marketers are required to be immensely creative throughout their marketing activities. Within the mod ern, competitive business environment, getting a company’s products noticed represents quite a challenge to marketers. In terms of marketing strategy, businesses must be more focused on customers than the products (Christensen, 1997). While good and superior quality products are critical, the customer population still has their personal preferences. Therefore, getting repeat purchases is one of the hardest parts of marketing activities. Within the modern, competitive business environment, getting a company’s products noticed represents quite a challenge to marketers.... At its core, marketing is the process involved in the introduction and promotion of products or services into a market. On the other hand, sales is the act of purchasing or the transaction of customers buying the business’ products or services. Since the purpose of marketing is to make a business’ products or services widely recognized to the market, marketers are required to be immensely creative throughout their marketing activities. Within the modern, competitive business environment, getting a company’s products noticed represents quite a challenge to marketers. In terms of marketing strategy, businesses must be more focused on customers than the products (Christensen, 1997). While good and superior quality products are critical, the customer population still has their personal preferences. Therefore, getting repeat purchases is one of the hardest parts of marketing activities. Organizations use various forms of marketing approaches; however, all forms of mar keting aim at promoting product awareness to the entire market. Both online and offline marketing activities make it possible for a business to educate the market on its various products and services, which they can purchase. In addition to creating public awareness of a business’ products and services, marketing boosts a company’s sales, as well as revenue growth (Chernev & Kotler, 2009). Marketing is also important in building a company’s reputation; in order to be successful in the market, marketers typically aim at creating brand name recognition. This entails the technique through which consumers can easily associate the brand name with the logo, images or captions they either see or