Management-Ethics- SWOT Analysis -Assessment Answer

Management Assignment

Assignment Task

Choose any three (3) of the following topics by ticking the box. Topics are drawn from Week 1-3 inclusive:

Ethics CSR Culture General SWOT Analysis Specific Environment Innovation Sustainability General Environment

1 . Ethics: All the businesses are benefited by following code of ethics. Ethics are important to make decision, fair trade etc. Employee relations are an important code of ethics in the aspect of grocery store. Employees are usually paid low and are asked to over work. This issue is addressed in order to provide proper wages to the employees. Another aspect of ethics is selling good standard foods. Selling slightly expired food items, storing goods in improper place etc can cause harm to the customers and thus may lose faith on the company. Thus it is important to sell proper and high quality food to customers. To show the assurance of ethics the company before signing any contract with new supplier should go through thorough investigation about the supplier. The company should check how livestock are sourced, raised and treated. Also if any artificial additives are added should be checked. Another code of ethics is to check if only healthy products are supplied to the customers and no harmful ingredients are used. Thus code of ethics is very important to be used in our business in order to be successful which in turn influences the customers and gain trust in company.

2 . SWOT Analysis: Businesses often use swot analysis to evaluate their performance. SWOT analysis helpsthe retail business to know about their strength, weakness, opportunities as well as threats. SWIT analysisStrengths: The first step is to evaluate the strengths of the business. Grocery stores have strengths of plenty of capital and bank loans. They get whole sale prices for products. Weakness: The second step is to find the weakness of the business. Outdated technology is one of the weaknesses that need to be eliminated. Other weaknesses include online presence, bad acquisitions, weak supply chains etc. Opportunities: Some of the opportunities for grocery stores are online market, consulting service, financial leverage, fragmented market, life style, global marketing, social patterns etc. Opportunities can occur as a form of change and bring positive result to the business. Successful businesses are constantly looking for the opportunities in order to be competitive In the market. Threats: The final part of SWOT analysis includes evaluating the external factors applicable to the business. Some of the threats for grocery stores are high competition in the market, bad economy; technology keeps changing and thus need to adapt it as soon as possible.

3 .Innovation: Many businesses have started using new technology and innovating their businesses inorder to have a good shopping experience for the customers. Some of the innovations used in grocerystores are use of QR code to reduce the time of billing

Online shopping which helps customers to buy the products without having to waste their time in the shops

Home delivery options are available in order to help customers avoid traffic

Even mobile apps are available to make online shopping experience good

Grocery stores can promote themselves by digital marketing. Digital marketing helps the business to gain publicity though social media as well as blogs. Even SEO will be helpful if the grocery stores have online shopping portal By accepting cards like debit, credit cards people will find it easier to shop with cards rather than hard cash. Also companies provide company card which contains points based on theirshopping which in turn gives them the advantage of discount.Thus by keeping our business innovative and providing attractive discounts in an innovative grocery companies can gain customer trust and help to overcome most of their weaknesses and thus make shopping experience of customers highly satisfying.