Answers question why its streghth or wenessness, ect andd academic journal some percentage why it;s good and not goods so on . SWOT Analysis Strengths One of our retail advantages is that we are operating the business as a partnership which will be easier to establish Having a brick and mortar shop are seen as more tangible bring further oppertunity business to gowth. Since having a physic store allow , consumers will physically exposed to our products and are ble to try out products before purchasing them and check for any defects . its allows consumers more choices looking at our products, further advertises our products allows greater visibility and convenience to some customers as they can check out our products before heading to our store. Apart from that we want to provide our shopper the experiences beyond brick and mortar by Before, During & After-Sales service Weaknesses: Manufacturers customize products more complex Difficult to meet customer satisfaction No reputation Opportunities:Target on specific segment High demand for gems jewelry in SG create opportunity for business to grow and thrives . Innovate design unisex norm, E.g rise in LGBT Threats: Accessory market is already quite saturated in SG there more competition Economic factor after pandemic reduce people’s willingness to spend money Barriers to entry is low VI. Specific Activities 1,Location Based on trading analysis, it allows for a strategic and robust location as seen in Appendix A marked by X. Orchard Gateway #B2-19 (Currently Vacant) – parasite store planned shopping center Visibility connecting both Orchard Central and 313@Somerset – people draw to the area because its shopping paradise, tourist spots lots of hotel located nearby A retail heaven with numerous of existing retail but single competition – Orro jewelry shop which is indirect competitor specialty high class jewelry ( diamond and gold ) plethora of untapped opportunity Highest human traffic flow – function field targeting and reaching potential customers Heavy traffic Orchard road – Located Somerset MRT station – plentiful parking lots available Sustainable 2, Managing the business To manage the business , we are using functional classification which devided jobs by tasks forming a moderate organization structure. It is a simple yet most effective organization aspect for new business such as Infinitive Jewelry. This structure will help business Human Resources Aspect : Cross Training Apply Self – Manager approach Clear policy promote diversity again dícrimination Giving Rewards & Promotion Operational Dimensions : Adapt to innovation of technology – credit transaction Take appropriate security measures – CCTV Crisis management
Important of satisfaction mirror as employees •Sense of accomplishment •Enjoyment of work •Attitude toward supervisors •Attitude toward physical work conditions •Confidence in company •Knowledge of business strategy •Recognition of employee role in corporate outcomes
Consider employees as an asset to the retail firm. Develop a program that rewards good behavior. An operations blueprint systematically lists all the operating functions to be performed, their characteristics, and their timing. The retailer specifies, in detail, every operating function from the store’s opening to closing – and those responsible for them. This is for Retail Marketing Finakl Report RDM Final can be an exmaple you can follow up and their are marrking keys
