Goals and objectives of Power Supermarkets

Goals and objectives of Power Supermarkets Introduction Prior to 1997, Pennys often shared sites with Power Supermarkets, also at the time an ABF subsidiary; however this practice ceased after the sale of PSL to Tesco in 1997. ABF decided to maintain control of Primark rather than sell it on also, despite the fact that it is the only non-food part of the operation. In July 2005 Primark/Associated British Foods purchased the 120 branch Littlewoods retail chain for  £409 million. Some of the stores, variously reported as 30 or 50, will be converted into branches of Primark, but the majorities are expected to be sold on to other retailers. The Littlewoods catalogue business has been retained by the Barclay brothers and will continue to operate under the Littlewoods brand. The company employs over 10,000 people, and own several brands, including: Atmosphere womans wear Cedar wood State casual menswear Denim Company casual menswear Butler Webb formal menswear early days baby/childrens wear Rebel boys wear Secret Possessions lingerie Young Dimension childrens wear The company is known for tending towards the budget end of the market, in contrast with many other clothing retailers which have gone up market. Analyze the goals and objectives using the mission statement as the basis. Mission Statement: To give ordinary folk the chance to buy the same thing as rich people. Aims and Objectives: Long term objectives: To always be the first choice of customers To make sure that customers stick with primark and should not opt any other store that is competitor of primark The business within the organization will always be customer centric. The remain the leader of the market all the way To train all the employees up to international standards and let them aware of customer relationship management. To train the employees for managerial levels. Encourage, drive and support initiatives, innovation and creativity, capitalizing on opportunities to support operational goals and strategies. To achieve international standards all along Drive and support ISO standards throughout the Organization Foster an open and positive team environment to receive and disseminate direction, ideas and changes to all store levels and appropriate business partners. Specific objectives To provide cheap products Control shrink, expenses, and payroll. Ensure sales floor is adequately stocked, signed, and merchandised to brand presentation. Continually evaluate and react to performance issues while proactively hiring, developing and retaining the stores team in a timely manner. Analyze and measure business trends; develop and implement plans to maximize sales and meet or exceed goals and objectives. Innovations Keep the environment within the organization conflict free. Never ever compromise on rules and regulations. provide best possible services To keep the environment clean ant tidy so that customers doesnt get any messy view. Provide high quality, fashion basics at value for money prices. To achieve an organizational goals and objectives every organization, firm or company have some short and long term strategies to achieve their goals and objective to maximize their wealth or profits. Same like other organizations, since 1991 Objectivity has been developing several systems for Primark using different technologies. Recently a sophisticated Purchase Order and Purchase Order Matching system has been developed as well as a web based Stock replenishment system. Objectivity also maintains and supports all Primarks software applications and databases on a 247 basis. This includes Unify, Microsoft, Oracle and Java technologies. Computerized customs clearance, dedicated warehousing and distribution services facilitate stores in their control of stocks to support sales. Computerized up to the minute sales and stock information, by size and color is available to management at any time. Primark thrives in a culture that recognizes human resourcefulness and energy as the driver, rather than the systems that support it. Selecting, customizing and implementing a plan can be a complex process. These are some steps of the process including: Review the employers controlled group and/or affiliated service group situation. Design a plan tailored to the needs of the owners, employees and the business itself. If the plan is already in existence, they review the existing plan provisions and recommend changes to fully meet the employers goals and objectives. Prepare plan documents as required by the IRS. Prepare the request for an IRS determination letter, if applicable. Prepare the Summary Plan Description required to be distributed to plan participants. Prepare customized enrollment and administrative materials. Conduct employee meetings to communicate the provisions of the plan. Defined Contribution Plan Record keeping and Administration We perform the following services in order to provide for smooth and efficient plan operation: Calculate employee eligibility and plan entry. Maintain participant vested percentage records. Process each payroll, allocating contributions and loan payments according to the participants investment elections. Process fund transfers in accordance with participant elections. Determine eligibility for allocation of employer contributions and forfeitures. Allocate employer and employee contributions. Allocate plan earnings. Allocate forfeitures, if applicable. Distribution processing: Calculation of distribution amount, preparation of required distribution notices. Loan processing: Set up of loan accounts, preparation of promissory note and amortization schedule and tracking loan repayments. Hardship withdrawal processing: Determination of hardship distribution amount and preparation of application forms. Reconcile trust accounts. Prepare customized participant statements. Critically evaluate the strengths and weaknesses, taking into consideration all the environmental factors. Strengths: The Primark products are in good quality as compare to their competitors, thats why customers prefer their products than any other stores products. Primark has many outlets which are easily accessible to their customer which we can easily find in every high street and town centre. Primark has valuable brand among their customer thats the reason that every outlet is full of crowd of customers. Primark products are affordable to their customer while their competitors are expensive their products for example the majority product of Primark under  £10 which are very low price which attract the customers for buying. They are very good in management and keep properly recruited staffs which help in satisfying their customers. Primark has modern fully equipped information systems which are help full in managing the organizations, which is help full in increasing their productivity profit and preventing any loss for organization. Primark has diversified in different products which cover the needs of kids, mans, womens and youngster, thats why we see every type of products for every customers. In my opinion the shop Primark is an absolute gift to all those students and people who are strapped for cash and need something new to brighten up their wardrobe! Primark is a large shop in many shopping malls in towns across the country which sells fashionable and reasonable quality clothes for a bargain price. These days clothes are more expensive than a few years ago, meaning children and students buying clothes can get far less for what they spend, but alas there is a saviour, Primark came along selling the same type of clothes as Top shop, Miss Selfridge, and accessories as Accessorize for a tenth of the price. Weaknesses: Although Primark has low prices but opinion of many customers is not trust trustworthy because their are thinking if we buy in low price than products will be not durable. Their stores products are not properly set for their customers so there are the main problems with Primark. Untidy, messy, crowded, and hot and generally a very tiresome, hot and bothered shopping experience but lets not over look their redeeming features. The customers services in most cases fail to help their customers in providing their choice, size and color so their fore most customers are not happy and dissatisfy their customers from the organizations, which make bed image among their customers, and directly impact the selling of organization. They layout Primarks products are not properly managed which create bed impact on the customers, so their fore the organizations should properly manage the products in specific sections which should help in finding the products for the customers. Primark outlets have no car park area which cause difficulty for the customers which losing so many customers because of their no proper car parking area, as majority their competitors have their own car parking area. In Primarks customers services are very few while customers in crowed thats why you see long and long queues, which are very big problem for their customers, while their competitors properly manage their customers, and you never see long queue there. Recommend a strategic model for the organization. Justify the choice of the model Strategic Model: Strategic plan for a strategic Model provides a roadmap for success and the framework for clear communication of what is important and what is not important for an organization progression/succession e.g. Primark.Without one your organization is at risk of underperforming or even failure. Strategic planning is a key leadership instrument and process for deciding what the company should do. It begins with by defining organizational aims and purposes, followed by formulating the means to achieve those purposes. Most importantly, it provides direction for implementation of operational and tactical planning. Strategic planning models in business can simulate situations requiring risk reduction or training inputs. It can also be a tool for developing a consensus among the executive body. It can guide managers into decisions and actions that have a consistent, rational affect on the organization in a way that satisfies top management. Thousands of organizations rangingin size from Fortune 500 companiesto small early stage businesses are using the Strategic Planning to reachnew levels of success. It is widely recognized as one of the best templates for writing a strategic plan will help you to: Gaina competitive advantage. Takea practical, yet thoroughapproach to strategic planning. Reduce the amountof time needed to develop your plan. Analyze your current situation from both an internal and external vantage point. Establisha well defined vision for thefuture of your organization. Develop clear andactionablegoals, objectives, strategies and tactics. Create an implementation planthatinstillsaccountability for results and follow-through. Definepriorities and bring morefocus to what is important. Increase accountability. Improve productivity. Write an easy to understand and easy toexecute plan. Achieve alignment with overall goals throughout your organization. Build a comprehensive road map for success. This type of strategic Model planning providesa complete, yeteasy to followstrategic planning template that is proven to get results. The Strategic Planning Workbookexplains and illustrates thestrategic planning process including development and implementation of the plan.Itincludeseverything you need tocreate a comprehensive strategic plan that will produce desired results. Strategic planning doesnt have to be complicated or difficult. Easily develop your plan and reduce the amount of time needed to complete anexcellentroadmap for success with the help of this popular planning template. These and other important elements: How toconductinternal and external analyses and what should be included in each. Ways to craft relevant and motivating mission, vision and purpose statements. The difference between strategies and tactics and how to draft them. How goals and objectives for your organization are effectively created along with tips for ensuring that they are achievement-oriented. Why a detailed action plan is critical to a plans success and how to develop one. A complete understanding of the entire strategic planning process including examples and complete explanations of each step. An easy step-by-step process for completing your plan. The Strategic Planning bookwas written asa collaborative effort by several strategic planningprofessionals who have significant experience in facilitating, writing, and executing strategic plans. The authors have taken great care toavoid overwhelming the reader withunnecessary information while presenting a practical, real world approach to strategic planning. Strategic Model Planning is very necessary For: Executivesand managersinterested in leading theircompanies to new levels of success. Entrepreneurs looking for ways to write plans that get noticed by investors. Small business owners needing aguideto profitable growth. Non-profitorganizationsinterested in developing a sound strategic plan. Anyonewho doesntwant to spend thetime or moneyon seminars and consultants. Planning team facilitators who need a standard planningmanual for each member of the team. Anyone needing a straightforward, step-by-step guide for creating a winning strategic plan. In response to the growing need for an efficient and effective process to develop competency models that can be easily integrated into employee selection and development programs, the industrial/organizational psychologists and the technologists of Bigby, Havis Associates developed ASSESS Strategic Success Modeling (SSM). SSM is a software-aided process designed to define the competencies important for success in a given job. If a model has not been developed or the current model is out-of-date and needs revising, a new or revised model can be developed quickly and easily using the Strategic Success Model building process. ASSESS Strategic Success Modeling is a process by which an organization, with the facilitation of an SSM consultant, can easily develop a for a position or group of positions, or can update an existing, outdated model. Model building is initiated with a card-sort process that is facilitated with competency cards and sorting pads for participants. The overall process is facilitated with computer software that which is easily downloaded from the ASSESS website. If a model has been previously developed and is current, no formal SSM process is required. The SSM consultant, with input from Human Resources or key managers, can map the existing model directly to ASSESS using a combination of the SSM software and the ASSESS website. Developing an effective competency model requires an analysis of the critical components of a job or set of jobs in relation to the goals of the organization. For a competency model to be useful and accepted within the organization there must be: Alignment with the business strategy Involvement of key stakeholders Content that is straightforward and clear Integration into HR practices Communication of the model Continued refinement as the work environment changes. Top-Level Top-level managers, or top managers, are also called senior management or executives. These individuals are at the top one or two levels in an organization, and hold titles such as: Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operational Officer (COO), Chief Information Officer (CIO), Chairperson of the Board, President, Vice president, Corporate head. Top managers in most organizations have a great deal of managerial experience and have moved up through the ranks of management within the company or in another firm. An exception to this is a top manager who is also an entrepreneur; such an individual may start a small company and manage it until it grows enough to support several levels of management. Many top managers possess an advanced degree, such as a Masters in Business Administration, but such a degree is not required. Middle Level Middle-level managers, or middle managers, are those in the levels below top managers. Middle managers job titles include: General manager, Plant manager, Regional manager, and Divisional manager. Middle-level managers are responsible for carrying out the goals set by top management. They do so by setting goals for their departments and other business units. Middle managers can motivate and assist first-line managers to achieve business objectives. Middle managers may also communicate upward, by offering suggestions and feedback to top managers. Because middle managers are more involved in the day-to-day workings of a company, they may provide valuable information to top managers to help improve the organizations bottom line. Low Level Low level managers are those in the levels below the top and middle managers. Low-level managers are responsible for all carrying out the goals set by top and middle management. They do so by setting goals for their departments and other business units. And the low level management do all work which pass the middle level management of the organization. The report is focused on the following aspects of Primark: Example: According to Primark policies and strategies while competing with other competitors in the UK market, they have some long term strategies in which they focus on these factors very seriously: Vital Statistics: Retail footage, number of stores, location types and formats, new store openings, financial performance, latest company developments. Competitive Position: Brand positioning and uniqueness of offer, store environments, profile of target customers, product segment authority, pricing strategies, marketing activities, service levels, benchmarking against key competitors. Future Developments: Location strategy and new format development, company weaknesses and potential threats. Employees Incentives: Primark focus very seriously to provide incentives to their employees including their wages, medical facilities and special leave facilities as well. Customers Special Offers: Primark always offers cheaper and very competitive prices offers on their different products according to their demands for every class Customer. Which is very best policy of Primark while competing with other competitors? Identify the key performance indicators to measure the performance and hence the information requirements. All Primark have been equipped with proper CCTV and security guards to ensure not losing any single items of the organization. Beside that electronic sensor are made that can help in preventing any products and items. Primark has got proper trainee staffs which increases the performances for organizations and makes better profit in achieving there specific targets. Primark composed of many different products, and each products are comprises of cheap processes with better quality, so thats they attract more customers as compared to other business organizations. Primark are monitoring by head of departments, which is facilitating the core value for the organization. By offering the better qualities with cheaper prices, it gets more profits every year as compared other organization like Tesco Sainsbury ect. Primark is using specific tools for advertisement which helps to increase the productivities for the Primark, which helps in archiving objectives smoothly. Primark has own strong brands which also source for the organizations performance and productivities. Now days many of the branches of Primarks are situated in every town and high street in UK, so that every customers can gets easily accessible required products. Low prices and best qualitys also helping in performances of the Primark. Primarks staffs are very cooperative and friendless to the customers, so thats they can attract more customers and hence affecting the efficiency of their business very easily. After establishing the information requirements and discuss strategic information systems which would give a competitive edge to this organization. You may also include information systems that enhance the Customer Relations Management. The importance of effective customer relationships as a key to customer value and hence shareholder value is widely emphasized. In order to enhance these relationships, the application of IT to marketing through customer relationship management (CRM) software, e-commerce and other initiatives is growing rapidly. This study examines the factors that influence the successful deployment of CRM applications, with particular emphasis on those factors which are distinct from other areas of application. Using the analytic induction method, success factors were derived from five in-depth case studies. Resulting factors underemphasized in previous literature include: the need for project approval procedures which allow for uncertainty; the need to leverage models of best practice; the importance of prototyping new processes, not just IT; and the need to manage for the delivery of the intended benefits, rather than just implementing the original specification An efficient SAP CRM solution implementation significantly improves efficiency of operations and drives down operating costs and this system also helps to enhance customer relationship management. We can understand that system very clearly in detail as : The Client A large company engaged in providing integrated mail and document management solutions. The Challenge The client planned to integrate various business processes across the organization in order to improve their agility and deliver shareholder and customer value through faster and more efficient operations. The client objectives were to: Implement a single ERP system for an integrated approach to maintain accurate and complete customer data and transaction information Integrate all order-to-cash and leasing functions to streamline operations and reduce costs Data conversion from legacy system into SAP including interfacing and reconciliation between the SAP and Siebel systems Provide accurate and timely information for better decision making Manage customer relationships more strategically making it easier for customers to do business with them Drive down operating costs by 5% resulting in annualized savings Reduce the level of complexity, effort and time required to maintain and run all their systems Reduce time taken for accepting orders by 75%. The Solution The client decided to implement SAP CRM software for all their Customer Relationship Management activities. After understanding the business requirements and the aggressive implementation time frames, Patni suggested an on-site / offshore model for this project. Patni was responsible for: Creating specifications to integrate processes across applications and business units Introducing standards and procedures based on Six-sigma methodologies Improving system performance using efficient coding and design techniques Developing innovative methods to meet user requirements and in-house software for custom reports and interfaces Development of a real-time interface with Dun and Bradstreet and in-house Database using SAP CRM like BDT (Business Data Toolset) and BADI Business Application Development Interface) to validate customer information The Benefits The SAP CRM database was a centralized source of customer information for all business units. Some of the benefits were as follows: Reduced operating costs by 5%. Eliminated over 2 million duplicate and obsolete records during implementation which resulted in reduction of incorrect mailed invoices, equipment shipments and pick ups. Consolidated and reduced the approx 200,000 Customer Account Numbers to less than half that number during implementation. This reduced the compensation adjustments. Standardized customer creation and maintenance processes across business units reduced the consolidation efforts required for business information reports. Introduced new processes and creation of knowledge repository helped the client move to a process oriented approach. Increased the accuracy of information thus reducing billing errors and resulting fines. Discuss the ethical and social issues associated with usage of IS/IT in the organization. Ethical strategy: Primark has been working within its supply chains for several years prior to making its commitment public by joining the Ethical Trading Initiative (E.T.I.) www.ethicaltrade.org in May 2006. Primark defined its Ethical Trade Strategy in 2006. In 2008 they have entered the second phase of its implementation. Implementation of phase 2 will ensure that factories making 80% of all purchases are assessed. 135,120 workers employed in these units have had their working conditions assessed, and improved where necessary. Audits are conducted by Primarks own regional based Ethical Trade Managers and third party specialist auditors. 38% of our initial audits to date have been unannounced, and the rest take place within a pre agreed window. After the initial audit their Ethical Trade specialists work with the suppliers to support them through remediation. Training is offered to suppliers and their makers on particular issues and best practice, at regular intervals. Follow-up audits are conducted after three months from the initial audit. Primark has to report on its activity annually to the Ethical Trading Initiative and they have had encouraging feedback on their latest annual report. They share many of their suppliers with their competitors on the high street. All workers making these goods will be paid the same weekly wage. All new suppliers are risk assessed prior to supplying their initial orders to Primark. Primark recognizes that shared learning and collaboration is one of the most successful ways to achieve sustained positive progression with its suppliers factories. Primark participate in the ETI- supported National Home worker Group in India and are one of the founder members of the Wages Group. CODE OF CONDUCT Employment is freely chosen Freedom of association and the right to collective bargaining are respected Working conditions are safe and hygienic Child labour shall not be used Living wages are paid Working hours are not excessive No discrimination is practiced Regular employment is provided No harsh or inhumane treatment is allowed Social Strategy Many companies have dabbled in social technologies, ranging from blogs to profiles on social networking sites. But almost all of these efforts are one-off technology deployments, instead of being part of a master plan on how to engage customers and employees on a strategic level. This session will lay out a framework, which Forrester calls the POST method that helps companies understand how to leverage social technologies. POST is an acronym for People, Objectives, Strategy, Technology and is the order in which companies need to build their social strategy. People: You have to understand how your target customer uses social technologies today and in the future. Objectives: Given how your customers use technologies, what business objectives can you realistically meet with social technologies. We believe there are five objectives companies can meet better and faster. Listening Talking Energizing Supporting, and Embracing. Strategy: After identifying your business objective, what is your strategy on how you are going to achieve it A deep understanding of which Web 2.0 technologies and approaches work for which objectives is essential. Technology: Once the other steps are done, then, and only then, should companies focus on which technologies to use. All too often, we have companies asking us which blogging software should we use when the question should be why we should have a blog at all knowing your objectives will make winnowing and selecting the right technology vendors a much easier process. References: http://www.spiritus-temporis.com/primark/history.html 11/10/2008 11:30pm http://www.ethicalprimark.com/ethical.html 12/10/2008 10:00pm http://www.ethicalprimark.com/?gclid=CJiSi7-7yJYCFRpUEAodaGtoxg 12/10/2008 11:00pm http://en.wikipedia.org/wiki/Primark#Child_labour 13/10/2008 7:25pm http://www.managementhelp.org/aboutfml/what-it-is.htm 24/10/2008 8:20pm http://www.patni.com/resource-center/collateral/crm/CS-SAP_CRM_Solution.html 28/10/2008 9:13pm http://www.referenceforbusiness.com/management/Log-Mar/Management-Levels.html 01/11/2008 11:50pm http://en.oreilly.com/webexsf2008/public/schedule/dtail/2277 http://www.mybusinessbooks.com/our_books.cfm?action=detailstart=1prod=4 02/11/2008 9:25am