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ASDA - Essay Example

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We can not predict the future. We will not know if a business venture will gain for us millions or if the business will close shop in a few months because of bankruptcy. ASDA is faced with this problem. Archie Norman believes there is hope for ASDA if drastic changes will be put in place.
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Download file to see previous pages Management, another problem, was too busy putting up stores and playing or having fun hiding themselves from the realities of the daily store activities.
The buying department buys what it wants without asking what the marketing department and the store managers their inputs as to what to buy, when to buy and how many they will buy There are too many red tapes.
What should Archie Norman do Archie Norman should talk (Elliott et al, 2002) with some key personnel of the company, from the top management down to the lowest ranking employees. He should also ask questions from walk in customers and passersby why the will or will buy or what they think of the company.
Based on these facts, he will now come up with counter measures that will bring back the customers and the morale of the employees. The red tapes must be removed by reducing or terminating redundant top management people. He must help bring up the declining stock market price of ASDA shares (Exhibit 3) by institutionalizing major reforms in inter-departmental communication.
What changes should Norman make, when, and in what order should be make them Archie Norman must institute many drastic changes NOW, not tomorrow, to improve the financial performance of ASDA. Most of its store outlets must lower their selling prices to bring back droves of its former loyal customers who could not afford the sudden increase in prices.
The ASDA increased its upscale offerings to corner the rich client's market segment. The rich clients prefer to shop with upscale store which carried high end brands. A few branches of ASDA located near rich neighborhoods can still continue with its upscale offerings to continue serving its rich clients.
Another change that Archie Norman will have to do is to call a general meeting of all its rank and file employees. The financial problem of the company will be brought out and each will submit before the meeting ends their comments, suggestions, and complaints.
A select committee will be formed composed of the managers of each branch and other upper level management staff. They will now come up with projected (or forecasted) income statements and balance sheets. The forecast will be brainstormed by the different departments involved such as the finance department ( to give assurance that enough cash inflow will be available to pay its obligations when they become due), the buying department ( the buying department must only buy what the marketing department asks them to buy), marketing department ( the marketing department will make sales forecast based on its historical (past) sales trend and its new and more vigorous promotional ventures ( advertisements in the tri-media [ radio, television, newspaper] to drum up sales), store managers ( each store is treated a cost center meaning they have to forecast their own sales and expenses and to explain why there is an increase or decrease in the assets, liabilities, capital, income and expenses for each month).
Those top manager who have not performed well with no hope of improving will be retrenched after reviewing the results of the psychological tests given to them.
All ASDA stores will now have a fast food corner. Since the customers have declined for the past few years ending 1991( Exibibit 4 sales per square foot of only 519), A fast food chain that will rival Mcdonalds inside an ASDA store will cater to ...Download file to see next pagesRead More
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