Budgeting Requirement And Plan Business Essay - Free Essay Example

Sample details Pages: 10 Words: 3018 Downloads: 7 Date added: 2017/06/26 Category Business Essay Type Case study Did you like this example? Originally Briscoes was established in Wolverhampton, England in year 1781. Then they expanded their business to Australia and New Zealand. In 1862 Briscoes warehouse and store was established in Dunedin, corner of Princes and Jetty Street. Don’t waste time! Our writers will create an original "Budgeting Requirement And Plan Business Essay" essay for you Create order That was the year of gold rush in New Zealand and Briscoes supplied everything from picks and shovels for gold miners, iron to construct wharves, dynamite to open tunnels and reclaim land. They also used to sell the crockery, lamps and cutlery for colonial homes. They even used to sell red tiled roofs that adorn thousands of New Zealand homes and businesses as well as magnificent pressed steel ceilings that grace thousands of villas. In 1893 Briscoes decided to expand their business in New Zealand. They opened two new branches in Invercargill and Wellington and another one in Auckland in 1900. Auckland branch was used as their head office until 1960s. By 1980 Briscoes had gone through several ownership and was struggling to maintain their position in the market. The business was on the edge of bankruptcy, the company was at loss over $2 milliion. This was when there was change of leadership at Briscoes and Rod Duke, originally born in England, grow up in Australia took over as a mana ging director. It was Dukes responsibility to generate cash if he wanted to spend in the business. Then he discovered that there were lots of unsold stocks which were in stores for over 12 months. To maintain Briscoes slogan New Zealands lowest priced discounter for the future, he reduced the price for most of the product by 10% or 25% and they would have promotions like One Day Sale, Briscoes Untouchable One Day Sale or Superhero One Day Sale on Fridays to get customers to Biscoes. In 1990 Rod Duke bought Briscoes and by this time Briscoes was fully back on track. They opened another retail store in Manukau, they also needed the new face of the company and choose Tammy Wells. She is the lady on all Briscoes advertisement on tv, catalogues and companys radio spots. Having Mitre10 and Placemakers around, Briscoes dropped their hardware lines and childrens toys. In 1996 Briscoes opened their first sister company Rebel Sports at Panmure which sells all sports gear. Following year th ey opened another branch in Manukau. By 2001 they had 28 Briscoes stores and 11 Rebel Sports stores throughout New Zealand. In 2006 Briscoes had purchased another company Living Giving, they had nine stores. By 2010 Briscoes has gone into recession and they had to do lots of cost cutting. Their Riccarton stores in Christchurch were also damaged in 2011 earthquake and had been demolished. By 2012 their Briscoes Rebel Sport stores in Christchurch were operational again on the same site. The company also moved onto online sales which was a success. 2012 Briscoes celebrated 150 years in New Zealand and their turnover was up 8% and profits were up 27%. One the share market, the company chares obediently climbed 14 cent. Now Briscoes Group has 80 store networks of Briscoes Homeware, Rebel Sports, and Living and Giving with 1750 loyal and supportive staff. Briscoes is focused on delivering value to its customers. Even though Briscoes Group is such a big company, they still lack corpor ate culture. After carefully analysing the company, the team was confident that Briscoes Group Ltd lacked organisation culture. The managerial problem will be discussed in depth with the help of Natalia Devi, Human Resources Advisor we gained in depth information into the organisation structure and operation. This we can conclude from implementing few changes to improve the organisational culture will make in multimillion dollar company move recognisable terms of customer service and a brand that will be recoganised for its corporate culture and that will not only lead to customer confidence but also create a brand name. Statement of Problem The problem is lack of corporate culture in Biscoes Group and it is an internal problem to Briscoes. Its a communication breakdown between store management to store staff. 1.11 Nature of the Business Briscoes Group Ltd is a retail business. They owned 3 types of retail stores; Briscoes Homeware, Rebel sports and Living Giving. Now Briscoes Homeware and Living Giving are combined together. Briscoes Homeware has a wide range of products. They sells everything that customers need to set up their home example bed bath products for bedroom and bathroom, electrical appliances, kitchen ware products, dining entertaining , cleaning laundry, bags luggage, decorating accessories, outdoor living and furniture storage products. Briscoes try to bring cheap and low discounted products to its customers. Rebel Sports product range are all sports related products such as sports clothing, footwear, sports gears, exercise fitness products, camping fishing, games and accessories and swimming watersports product with quality brand names. 1.12 Organisation culture Organisations have directors, managers and employees which forms a team. Then they form a culture for every employee to follow. There are values, behaviours that contribute to the unique social and psychological environment of an organisation. In general organisations have certain values, policies procedures, rules and guidelines which help them create their own image. At the moment Briscoes Groups culture is more laid back then being corporate. So far Briscoes has non corporate culture. 1.13 Organisation Structure In organisation structure each individual is given a position with different responsibilities for them to operate and perform towards the organisations objective by following the standard operating procedures and policies, which involves them to participate in decision making processes. Managing DirectorsBriscoes Group organisation structure is from top senior management, board of director, chief operating officer, general operations (business) manager, then its store management retail manager, assistant manager. Last are store staffs, they are sales assistant, office administration staff and store person. Chief Operating Officer Senior Management Operation/ Business Manager Assistant Manager Retail Manager Store Management Office Administration Sales Assistant Checkout staff 1.14 Product(s), Service(s) Target Market(s) Briscoes Homeware has a very wide range of products as discussed above in nature of business. They have both seasonal products and daily used products as well and Rebel Sports has all sports wears clothings and gears with good brand name like Adidas, Nike, and Puma etc. The Service they provide is online shopping with various payment types such as American Express, Visa card, Master Cards. You can shop online and as well as in store. They also deliver products with in New Zealand which takes at least three to five working days but they do have respected delivery charge based on weight and size of the product. For returning products they provide 30 working days from the date of purchase. If the goods are faulty they replace, send for repair or refund the money using the original payment method. Briscoes sell gift vouchers as well. This makes customers job easier. If they have difficulty in using the product for gift, they can buy gift card or voucher so that the person can purchase anything of their choice from any Briscoes stores. There stores are everywhere in New Zealand and their target market is people from the age of seventeen and above individuals, families and households. Briscoes products are very low price. They also promise their customers that if they find the same product in other store on lower price then Briscoes, they will beat it by 10%. Their brand slogan is Youll never buy better. For Rebel Sports, their target market includes kids and adults who are into sports or like to have branded clothing sportswears. 1.20 Business Management Problem The problem is internal problem. Its a communication breakdown between the store management store staff. The problem was identified while shopping at Briscoes. It was strange to see the communication between the manager and the staff. There was no professionalism at all being such a big company. Due to the lack of professionalism, it made me think whether I am buying the right thing or not. There was a variety of product range. The service was provided by manager and he had a great knowledge of product. To my amusement he used in appropriate words to communicate with the counter staff to close the final sale. Words he used were Hey you put this sale through and without saying thank you he walked away. The way he spoke to other staffs were so unprofessional even the staff who were below the age of 25 were using in appropriate words in front of other customers. This concludes that Briscoes Group Ltd has in effective organisational culture (Corporate culture). 1.21 Research Question / Problem To elaborate this we have highlighted issues such as how can poor communications between manager and staff led to crisis for the organisation. 1.22 Classification Crisis / Non Crisis Communication is very important for the organisation. The corporate culture involves certain values, rules or behaviour within and outside the business. Through communication managers can elaborate the policies and procedures of the company to staffs and it binds them together. If the corporate culture is not strong and there is miss communication or poor communication, this might affect achieving the companys goal or even threaten the companys existence. Crisis can have negative impact on the company. The manger doesnt respect or appreciate employees work. This way the employee will have negative feeling towards the manager and wont perform well. This will affect both internally and externally and the companys name will be affected. 1.23 Objectives To know the organisation Briscoes Group Ltd. To understand the organisation culture and its impact on the employee and customers. To identify the managerial issue within the organisation and to analyse the implication of the managerial issue. To analyse provide recommendation solutions to the managerial issue identified. The purpose is to analyse the managerial issues that provide the group in sight of how an organisation culture impact its employees customers. To monitor the recommendation solution in order to ensure that the Briscoes Group ltd holds the majority of the market not only known by its profit sales but known as a company that portraits a culture that highlights the corporate between the manager employee. 1.24 Justification for conducting research The reason we chose this topic is: While shopping in Briscoe one of the group members identified that they have a managerial problem. The managers communication was unprofessional with the staff for such a big company. Communication plays a very important role in organisational culture both internal and external environment of the organisation. In effective communication can be a crisis for the organisation. It can bring a company down to its closure. Research will be done to improve this issue for Briscoes Group Ltd. 1.25 Perceived Drawbacks / Benefits of project This project will help to improve the relationship between store manager and the store employees and their work environment. The employees will get more motivated and encourage working for Briscoes Group Ltd and Briscoes will maintain its name in the market. 2.0 Project Plan A letter will be written to Briscoes Group Ltd asking for their approval to do research on their company and get approval to interview the manager, staff and customers. Identify the problem which they are facing then come up with ideas and solutions to be recommended so that they can overcome the problem. 2.1 Scope of study We are doing this research proposal as it is a required assessment for our Applied Management course. We have to identify a managerial problem in Briscoes Group Ltd. How we can evaluate this problem and find solutions for the organisation and help them to improve the performance of their manager employee. 2.2 Proposed Problem Solving Method The problem solving method we will use is Kepner-Tregoes which is appropriate for this research because. Its step by step method will help quickly and correctly to solve lots of organisations issues. The will help each and every individual in an organisation to efficiently organise information, analyse the situation and take action. There are seven steps to solve the problem and decision making. Decision making process starts when the manager is able to identify the problem. In Briscoes Group Ltd the problem is the in appropriate use of language and in professionalism at work. The research team has identified that Briscoes Group Ltd has inefficient communication issues and the problems that can arise from it. Lack of training provided by the manager and not showing professionalism at work. The research team will develop potential alternatives by using brainstorming techniques. The group will work together to provide ideas and substitute solutions. The theory behind this techniqu e is it encourages thinking out of the box example like doing something extra, steps like survey questions, interviewing manager and personal observation to produce alternatives. Third step alternative will be analyzed. This step is to decide the relative virtues of each idea. Fourth step is to choose the best alternative or solutions. Evaluate the problem and decide and plan procedures to how it can be implement on manager and employees. Last step is after implementing the solution, it must be monitored by senior management that its been followed and the company is making progress. 2.21 Steps in PSM Define and Identify the Problem Analyze the Problem Identifying Possible Solutions Selecting the Best Solutions Evaluating Solutions Develop an Action Plan Implement the Solution 2.22 Other Management concept / tools The research team will use four functions of management concept. Its called PLOC framework, planning, organising, leading and controlling. The group will do planning by setting up a goal and evaluate how to reach the goal. Then organise the work between each group members and then they will gather information. We will meet once a week and discuss the information gathered, consider it and see that all members are going in the same path by leading them. Try to finish our research on time by controlling it. 2.3 Perceived Limitation of Research Process I think the above problem solving and decision making method and its steps will make it very easy to identify and find solutions for the managerial problem and management concept will help us to submit our project on time. 2.31 Resources Needed The research should be completed within 14 weeks. To complete these task ,the group members will need access to computer, the internet, notes given by the tutor, research about the company whereby will need transportation and also support from the tutor. 2.32 Budgeting requirement Plan All members in the group will contribute $15 each to meet the cost of the whole assignment. The estimated total cost for this assignment would be as follows: Income $60.00 Expenses Travelling $30.00 Photocopying $3.00 Stationery $5.00 Printing $10.00 General Expenses $12.00 General Expenses will be for any small expenses that come across while doing the assignment. 2.33 Time Plan / Activity Plan The group will make list of all activities that has to be done. The task was divided amongst the group members/allocated and given certain time to be completed. Pritika will interview the HR advisor, Rizwaan will interview the staff, Nalini will interview the customers and Roneel will do observation with his observation checklist. 2.34 Perceived Limitation / Benefits (of above Resources, budget and activity plan is made so that all members will have equal contribution of their money, time and work. It will make work easy as well. 3.0 Research Methodology The information research will be collected by using questionnaire, interviews and personal observation. The research team consists of four members. The team will meet regularly to prepare the questionnaires and interview questions .Each instrument will be scrutinized and pretested to do necessary changes so that the data collected will be reliable .Each member is allocated a responsibility .One of the member is responsible for collating and typing the data .second member is allocated the plan and arrange interview schedule and also make a backup plan if the respondents are not available. The third member will analyze the data and present it in table and graph form. The forth member is going gather companies back grounds, histories and current states of the company .The team will together discuss the data and develop solutions and recommendations .Letters will be written to the HR advisor of Briscoes companies for permission to carry out the research and making the results availa ble to the company on completion .All the respondents will be letter about the purpose of the research and seeking their consent to participate. 3.1 Research Instruments The assessment techniques is possess in both validity and reliability, each research instruments will be pretested on a randomly selected respondent from the projected population .important changes will be made before using them to collect the data for the actual research . Validity and reliability is the two statistical properties used to evaluate the quality of the research instrument s .it will be done by observation, questionnaires or interview schedules 3.2 Evalualation of accuracy The problem stated above and by following the method to solve this problem and the information which will be collected will help us to come up with various ideas, to help Briscoes Group Ltd to improve their staff performance. Literature Review Many companies are now investing more into providing their staff with training in order to improve quality and quantity of their product and services. In retail competitive business, management s are more depended on store manager and employees performance. According to inkson and Kolb (2008), Maslows hierarchy of needs an appropriate method of identifying employee needs so that strategies for motivating employees are effective. Samson and Daft (2008) suggest employees come from many different cultures, different parts of the world with different experience, requires cultural sensitivity. Statistical Method Analyses Group will interview manager, staff, and customers as well as will do observation. Then the group will sit together and anlyse all the problems they are facing. Then will find solutions to overcome the problems Ethical Issue The proposal letter will be written to the HR advisor of the company for his/her permission to conduct further research. The research will be continued after the permission is granted by the manager. The responds will also be explained about the research purpose and it will be used as a source of data if they are interest to give information based on the research.