The second part]s first section will provide suggestions on how Kids Selection could overcome the weakness identified in the SOOT Analysis. The BCC Matrix, Porter[l’s Generic Strategies and Anions[l’s Matrix are then used in order to suggest strategies on how maintain and strengthen Kids Selections business. Two key ways on Kids Selection could expand their organization is then suggested. Moving to a new larger building is the most recommended expansion strategy of the two. Part three of the report is very crucial. It provides assessment on Kids Selections current goals, objectives and business plan (only target market and marketing mix).
Next, new goals and objectives are proposed and justified and should be added on with the present goals and objectives. A modification on target market and a reformed marketing mix is also suggested. Then finally, an action plan to implement these changes is drawn. It estimated the planned expansion will take 32 weeks. The final part of the report will discuss the impact of the aforementioned changes and how Kids Selection should manage these changes. A plan on how to monitor the improvements of the proposed changes is clearly shown s well. The report will then end with a brief conclusion and recommendation.
Before starting the business, the owner had plenty of working experience in managing and motivating people with different personalities and attitudes. Therefore, he has used his expertise to motivate his sales staff and has got the best out of them. This as a result gives Kids Selection a good resource. 2. Kids Selection also has a relatively good amount of financial backing as the owners have diversified into different businesses which have been operating successfully and therefore funds generated from these businesses could be transferred into Kids Selection if a need arises.
Owners also have a good mount of funds in hand. This makes Kids Selection capable of obtaining additional amount of capital quickly and also helps maintain a positive cash flow in case losses incur. The main core competencies are: 1 . The owner is a core competency. He has the ability to get the best out his staff. He is also very friendly and supportive and is always smiling with the customers. This creates a healthy relationship between the owner and the customers, for instance, the owner and customers sometimes even know each otherness names.