Answers question why its streghth or wenessness, ect andd academic journal some percentage why it;s good and not goods so on .
SWOT Analysis
Strengths
One of our retail advantages is that we are operating the business as a partnership which will be easier to establish
Having a brick and mortar shop are seen as more tangible bring further oppertunity business to gowth. Since having a physic store allow , consumers will physically exposed to our products and are ble to try out products before purchasing them and check for any defects . its allows consumers more choices looking at our products, further advertises our products allows greater visibility and convenience to some customers as they can check out our products before heading to our store. Apart from that we want to provide our shopper the experiences beyond brick and mortar by Before, During & After-Sales service
Weaknesses: Manufacturers customize products more complex
Difficult to meet customer satisfaction
No reputation
Opportunities:Target on specific segment
High demand for gems jewelry in SG create opportunity for business to grow and thrives .
Innovate design unisex norm, E.g rise in LGBT
Threats: Accessory market is already quite saturated in SG there more competition
Economic factor after pandemic reduce people’s willingness to spend money
Barriers to entry is low
VI. Specific Activities
1,Location
Based on trading analysis, it allows for a strategic and robust location as seen in Appendix A marked by X. Orchard Gateway #B2-19 (Currently Vacant) – parasite store planned shopping center
Visibility connecting both Orchard Central and 313@Somerset – people draw to the area because its shopping paradise, tourist spots lots of hotel located nearby
A retail heaven with numerous of existing retail but single competition – Orro jewelry shop which is indirect competitor specialty high class jewelry ( diamond and gold ) plethora of untapped opportunity
Highest human traffic flow – function field targeting and reaching potential customers
Heavy traffic Orchard road – Located Somerset MRT station – plentiful parking lots available
Sustainable
2, Managing the businessTo manage the business , we are using functional classification which devided jobs by tasks forming a moderate organization structure. It is a simple yet most effective organization aspect for new business such as Infinitive Jewelry. This structure will help business
Human Resources Aspect :
Cross Training
Apply Self – Manager approach
Clear policy promote diversity again dícrimination
Giving Rewards & Promotion
Operational Dimensions :
Adapt to innovation of technology – credit transaction
Take appropriate security measures – CCTV
Crisis management
Important of satisfaction mirror as employees
•Sense of accomplishment
•Enjoyment of work
•Attitude toward supervisors
•Attitude toward physical work conditions
•Confidence in company
•Knowledge of business strategy
•Recognition of employee role in corporate outcomes
Consider employees as an asset to the retail firm.
Develop a program that rewards good behavior.
An operations blueprint systematically lists all the
operating functions to be performed, their
characteristics, and their timing.
The retailer specifies, in detail, every operating
function from the store’s opening to closing – and
those responsible for them.
This is for Retail Marketing Finakl Report RDM Final can be an exmaple you can follow up and their are marrking keys
