Dear students, get fully solved
assignments by professionals
Do send your query at :
or call us at : 08263069601
(Plagiarism proofed
assignments available with 100% surety and refund)
BACHELOR OF BUSINESS ADMINISTRATION
Title: STRATEGIC BUSINESS
MANAGEMENT I
ASSIGNMENT
Student Name: [Insert your name]
Student Number: [Insert your student number]
Professor Name: [Insert professor's name]
INTRODUCTION TO THE ASSIGNMENT
• This assignment consists of ONE SCENARIO AND THREE QUESTIONS.
Scenario:
You have decided to start your
own business. You have chosen to open a retail business that sells clothes and
groceries at affordable prices. You have big plans of nation-wide expansion,
since investment is not a problem for you. You wish to compete with the popular
brands in the country. Most of your products are locally sourced from the
surrounding community or other South African manufacturers or producers. As
yet, you do not have plans to grow your business outside South African borders
Due Date: [Insert due date]
|
Table
of Contents |
|
1.0
Introduction
.....................................................................................................
[Page No. 3] |
|
2.0
Question 1
.......................................................................................................
[Page No.4 ] |
|
As the
leader of your business, conduct an environmental analysis, including the
micro, macro and market environment. You are expected to do research with
reference to the retail business environment in South Africa in 2024. |
|
3.0
Question 2 .......................................................................................................
[Page No.6 ] |
|
There are
various basic forms of departmentalisation available to you as the leader of
your retail company. Suggest the form of departmentalisation most suitable
for your retail business. You are expected to justify your selection with
suitable inputs from the scenario and conceptual discussion. |
|
4.0
Question 3
.......................................................................................................
[Page No.7 ] |
|
There are
different theories of leadership. Identify and suggest the leadership theory
which is best suited to the retail business environment of South Africa and
the internal environment of your retail company. |
|
5.0
Question 4
........................................................................................................
[Page No.8 ] |
|
How might
the cultivation of emotional and spiritual intelligence skills positively
influence your approach to building relationships with local suppliers and
producers in South Africa, and fostering a sense of community within your
retail business, aimed at nationwide expansion and competition with
established brands? |
|
5.0
Conclusion
.......................................................................................................
[Page No.9 ] |
|
6.0
References ......................................................................................................
[Page No.10 ] |
Introduction
Strategic business management is the cornerstone of organizational success
in today's dynamic and competitive business landscape. At its core, strategic
business management involves the formulation, implementation, and evaluation of
long-term objectives and initiatives aimed at achieving sustainable competitive
advantage and organizational goals. It encompasses a holistic approach to
decision-making that considers internal capabilities, external opportunities
and threats, and the alignment of resources with strategic priorities. In an
ever-evolving marketplace, where technological advancements, global
interconnectedness, and shifting consumer preferences redefine industry norms,
strateg
ASSIGNMENT QUESTIONS
QUESTION 1
(25 MARKS)
As the leader of your business, conduct an environmental analysis,
including the micro, macro and market environment. You are expected to do
research with reference to the retail business environment in South Africa in
2024.
Answer: The environmental analysis
for my retail business in South Africa in 2024:
1. Microenvironment:
a. Customers: Understand
the demographics, preferences, and buying behaviors of my target customers in South Africa. Consider
factors like income levels, cultural preferences, and lifestyle trends.
b. Suppliers: Assess the
reliability,
QUESTION 2 (25 MARKS)
There are various basic forms of departmentalisation available to you
as the leader of your retail company. Suggest the form of departmentalisation
most suitable for your retail business. You are expected to justify your
selection with suitable inputs from the scenario and conceptual discussion.
Answer: Given the nature of my
retail business, selling both clothes and groceries with plans for nationwide
expansion, a functional departmentalization structure would be most suitable.
Functional Departmentalization:
This type of departmentalization organizes activities around specific functions
or areas of expertise. Each department is responsible for a particular aspect
of the business, such as marketing, sales, operations, finance, and human
resources. Here's why it's suitable for MY retail business:
- Clear Specialization: Functional
departmentalization allows for clear specialization in key areas of the
business. For
QUESTION 3 (25 MARKS)
There are different theories of leadership. Identify and suggest the
leadership theory which is best suited to the retail business environment of
South Africa and the internal environment of your retail company.
Answer: Given the
context of my retail business in South
Africa, with plans for nationwide expansion and a focus on affordability and
local sourcing, the transformational leadership theory appears to be the most
suitable.
Transformational
Leadership Theory: This leadership theory focuses on inspiring and
motivating employees to achieve exceptional performance and growth. Here's why
it aligns well with the retail business environment in South Africa and the
internal dynamics of my company:
- Inspiration and Vision:
QUESTION 4 (25 MARKS)
How might the cultivation of emotional and spiritual intelligence
skills positively influence your approach to building relationships with local
suppliers and producers in South Africa, and fostering a sense of community
within your retail business, aimed at nationwide expansion and competition with
established brands?
Answer : Cultivating
emotional and spiritual intelligence skills can profoundly impact my approach to building relationships with local
suppliers and producers in South Africa, as well as fostering a sense of
community within my retail business.
Here's how it can positively influence my efforts towards nationwide expansion and
competition with established brands:
- Empathy and Understanding: Emotional
intelligence allows me to empathize
with the needs and challenges of local suppliers and producers. By
understanding their perspectives, I can build trust and rapport, fostering
mutually beneficial partnerships. Recognizing the importance of their
contributions to my business and
treating them with respect strengthens the bond and encourages long-term
collaboration.
- Effective Communication: Emotional
intelligence enhances my ability to
communicate effectively with local suppliers and producers. Clear and
empathetic communication helps convey my business values,
Conclusion
As I embark on the journey of starting my own retail business in South
Africa, selling clothes and groceries with a vision of nationwide expansion and
competition with established brands, several key considerations emerge.
Firstly, in structuring my business, functional departmentalization
appears to be the most suitable approach, given its emphasis on specialization,
efficiency, and scalability. This structure allows for clear delineation of
responsibilities across various functions, facilitating effective management
and resource allocation as I scale my
References;
Dear students, get fully solved
assignments by professionals
Do send your query at :
or call us at : 08263069601
(Plagiarism proofed
assignments available with 100% surety and refund)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.