Q.1)
A) External Trends B) Implications: + and –
Technology Environment:
Consumers are shifting into online shopping without the necessity of being physically there. The company is implementing the use of robots in its operations. Positive:
On the internet, you won’t have to deal with long queues, hefty shopping bags, or traffic. As an alternative, you are presented with a wide choice of products to peruse and contrast at your leisure. Thanks to advances in logistics technology, you no longer have to wait weeks for your order to be delivered. In some cities, online retailers like Amazon even provide same-day delivery.
They are more adaptable when it comes to their job schedules.
Negative:
Humans have been replaced by robots in the workplace. Virtually all major industries throughout the world have seen employment losses due to automation. Unemployment and poverty are a result of this.
There are continuing costs associated with industrial robots such as maintenance that must be considered with any potential savings from their use. Keeping your robot and any other IIoT-connected devices safe from cyber threats will also be an expense to bear in mind.
Economic Environment:
The use of lean Production
The implementation of Total quality management (TQM) Positive:
Along with improved customer focus and satisfaction, adaptability to changing or rising market conditions and environmental and other government requirements is another benefit of TQM.
The goal of lean principles is to reduce all types of waste, from a wide range of sources, such as faults in materials and worker ergonomics (Agarwal, Grassl & Pahl, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap). An out-of-calibration machine can be easily identified and corrected for producing a high volume of problems. Employee productivity is impeded by environmental factors that hinder their ability to do their job effectively.
Negative:
Overuse of lean methods should be avoided. The solution becomes an issue when it begins to have an influence on production time due to the tracking of productivity and waste. At first, the benefits of lean principles are greater than later on. Although it may be tempting, it is important to consider the benefit of making improvements. If you can only supply 500 parts per hour to a single section, then you haven’t boosted your output by increasing throughput to 1,000 parts per hour in that section.
Reducing production costs by utilizing lean methods to extract more efficiency out of the process might demoralize workers and undermine your leadership if the level of refinement has been reached (Agarwal, Grassl & Pahl, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap). Workers may be resentful if they notice a trend of reversing progress made in the past.
Cultural Environment:
The Implementation of loyalty programs.
Gender inconsideration in the market.
Positive:
Increased sales and revenue are two benefits of loyalty programs. Recurring clients spend more money on each transaction since they are more likely to stick around. Loyal customers are more likely to return, spread the word, and try a new product or service because they trust the brand. Customer loyalty programs have been proved to encourage customers to shop with you rather than your competitors and return regularly. Loyalty programs can have a significant impact on your business and consumer satisfaction.
Culture enables Customer retention, traffic growth, and sales since they believe in supporting certain brands that corresponds to their culture in general (Agarwal, Grassl & Pahl, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap).
Negative:
For women in some nations, there is no such thing as a “glass ceiling,” so to speak. Women are viewed as equally capable as men in all fields. Across the globe, women continue to battle for equal pay and benefits at work as well as in the classroom and other spheres of society.
Other marketing campaigns suffer from a decrease in effectiveness when loyalty cards are overused. Attracting new customers who are willing to pay the regular price is a challenge. As a result, customers may refuse to buy unless they receive a discount or some other form of compensation (Agarwal, Grassl & Pahl, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap). A decrease in profits over the long and short term may be the result of the typical customer’s decision to act in this manner.
C) Actions Plans:
Price: Hudson Company’s prices are so low that almost anyone can afford to buy their goods. This is because the price is so reasonable compared to the quality.
Place: The Hudson Bay Company is located in a convenient location that allows customers to receive their purchases the same day they place an order (Agarwal, Grassl & Pahl, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap). In addition, their advantageous location makes it possible for customers to easily reach them and, if they are nearby, even pick up their merchandise.
Promotion: Hudson needs to keep advertising their goods to attract new clients and keep the ones they already have (Agarwal, Grassl & Pahl, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap). They need to keep doing this. As a result, they will be able to maintain their position in the market.
Product: If they want to remain competitive in today’s market, they must assess their product line so they can better comprehend and even see what they have on the shelf, such as a selection of book services.
Q.2) A)
4 P’s Hudson’s Bay Company Amazon Alibaba Walmart
Product
Kitchen Appliances Office furniture Electronic Appliances Designer clothes
Price
Their prices are more accommodating to all customers. Compared to their competitors, their prices are relatively fair, but they only apply to specific items. It is more expensive when it comes to electronic gadgets since they are well-known distributors. They are relatively cheap, especially when it comes to clothes. This makes them more relevant in the market.
Place
They are located in Canada. They are located in America. They are located in China. They are located in America.
Promotion
Free shipping of the product. Prices for some products have been reduced by a percentage. Get one free when you buy one. Free shipping of the product.
B) Unique Selling Difference:
The Hudson Bay Company is the heart of your home, where you can get your product at a discount. On top of that, they carry a wide variety of devices from a variety of manufacturers. As a bonus, they’re easy on the wallet and can fit into any financial plan. In addition, they can send their products around the world at a lower cost than their competitors.
Give me three points that rationalize and support your unique selling difference:
1. The ability to offer higher-quality and more opulent products allows them to offer first-rate services, which in turn causes their clients to sing their praises.
2. Superior customer service is one of Hudson Bay’s key differentiators from the competition, and it is possible to counteract this by employing your own personnel.
3. Creative thinking is a critical component of the Hudson Bay Company’s business model. It’s important for them to cultivate their employees’ creativity because it’s one of the most important aspects of marketing.
Q.3) SWOT Analysis:
Strengths
A variety of brand-name commodities and products such as apparel, accessories, home décor, and furniture are available.
They have many different locations across Canada and they are large stores that are
the center of attention at shopping malls
Customers are drawn to Hudson’s Bay because of its high-quality brands.
They have the technology to allow clients to shop on the internet.
Weaknesses:
Due to the slump in the economy, our company is heavily indebted.
Our operational costs prevented us from reducing the prices of our products.
Customers were able to discover lower pricing elsewhere because of the higher costs.
Some of their attempts to revitalize the area were a failure and this makes them backslide in the market.
Opportunities:
Because of the rise of e-commerce, the Hudson’s Bay Company can extend its online offerings.
In order to regain their footing after the recession, they redesigned and renovated their stores.
High-end and exquisite brands are available for purchase
Reworked their trademark logo to make it more contemporary.
Threats:
Consumers will buy less if the economy is weak, posing a threat to the business.
Walmart, Sears, and Winners, as well as Target and Designers Guild, were important competitors.
Increased labor shortages are a concern.
B) Implications:
• They need to rebrand their logo so that it is more apparent, and they also need to be more active on their social media platforms in order to attract more clients.
• The company should explore adding branches around the world, particularly in big cities, as this will help them get more customers and raise their sales significantly.
• The company should evaluate language settings on their websites since it will allow them to operate more efficiently and customers will be able to view product descriptions in their local language rather than the top languages that are widely spoken (Schoemaker, 1990).
Q.4) From a Global Citizenship and Equity (GC&E) perspective:
1. Environmentalism and Sustainability:
Environmentalism and Sustainability Hudson Bay Company announced a philanthropic focus on mental health for the HBC Foundations in Canada and the United States, as well as an additional $6 million (CAD) commitment to mental health projects in North America by the end of 2020 (Zhang, Tao & Li, 2007). In addition to that they improve their operational efficiency so that they can reduce water use, waste, and greenhouse gas emissions (GHG). Operationally, there has been a strong emphasis on reducing waste output. HBC works with recycling companies and is a member of North American recycling councils to address our waste management challenges. It is clear that Plastic pollution is a major concern around the world, HBC have significantly increased their efforts to divert plastic garbage. Branded shopping bags have been created to reduce the quantity of single-use plastic bags given out to customers, among other things. On top of that they are looking into new ways to reduce the amount of plastic packaging our consumers carry home with them, while still protecting the things they purchase.
2. Social Responsibility:
Social Responsibility Hudson Bay as a corporation was able to enroll over 1100 HBC merchants in order for them to obtain social compliance training during the course of 2017, allowing them to operate well and even make independent decisions while operating. As a further tribute to Canada’s 150th anniversary, Hudson’s Bay raised $1 million (CAD) to assist complete the Great Trail. For the third year in a row, HBC’s logistics network achieved a new record for zero lost-time injuries.
References:
Agarwal, R., Grassl, W., & Pahl, J. (2014: 2024 – Essay Writing Service. Custom Essay Services Cheap). Meta‐SWOT: introducing a new strategic planning tool. Journal of Business Strategy.
Schoemaker, P. J. (1990). Strategy, complexity, and economic rent. Management science, 36(10), 1178- 1192.
Zhang, Z., Tao, Y., & Li, Z. (2007) . Factors affecting hare–lynx dynamics in the classic time series of the Hudson Bay Company, Canada. Climate
Research, 34(2), 83-89.
————
Q.1)
External Trends (A)
B) Consequences: + and –
Environment of Technology:
Consumers are migrating to online buying since they no longer need to be physically there. In its activities, the company is including the usage of robots. Positive:
You won’t have to deal with long lines, heavy shopping bags, or traffic if you shop online. Instead, you’ll be given with a wide range of products to compare and contrast at your leisure. You no longer have to wait weeks for your item to be delivered, thanks to developments in logistics technology. Online retailers such as Amazon even offer same-day delivery in select cities.
When it comes to their work schedules, they are more adaptive.
Negative:
In the workplace, humans have been supplanted by robots. Almost every significant industry in the world
