Operations, inputs and outputs of HMV3
Business Processes of HMV4
Structured Decision making5
Semi-structured decision making6
Unstructured decision making6
Strategic radar plotting technique8
Goal setting analysis and what if analysis9
Forecasting and Trend Prediction11
Data Analysis with SPSS12
Descriptive statistics - Frequencies12
Descriptive statistics - Descriptive13
Descriptive statistics – Explore14
Trend Prediction and Regression16
The purpose of this assignment is to examine a case study on a private or public company and suggest suitable improvements to the current Business Information Systems used for their business processes supporting the findings with data analysis. The organisation that has been chosen to be analysed is HMV, it is part of HMV Retail Ltd formerly known as HMV Group PLC.
HMV specialises in the sale of home entertainment goods mainly music, DVD and computer videogames, currently they have also ventured into portable technology with the sales of headphones and tablets (HMV, 1921). HMV stands for His Master’s Voice and has a recognisable logo of a dog and a trumpet. Sir Edward Elgar opened the first HMV in 1921; the flagship store is on Oxford Street it mainly sold goods from HMV at the beginning of its inception (HMV, 1921). However by the late 1950’s – early 60’s with the advent of rock and roll and new recording formats HMV began expanding its operations to other major cities of the UK (HMV, 1921). To keep in tune with the times, HMV invested heavily in purchasing thousands of titles by different artists for each of their stores. HMV came out as the top dog in music retail as they were meeting the high consumer demands and the change in home entertainment.
HMV’s strategy to change its products based on changes in home entertainment continues to this day. It is one of UK’s specialist retailers in music, DVD and computer games. It has over 140 stores in the UK and has many stores in North America, Europe and Asia pacific (HMV, 1921). Presently HMV is facing tough competition from online retailers like Amazon who are able to offer lower prices owing to Amazon having lower staff cost, property cost, inventory cost and operating costs (Phelan, 2013).
Operations, inputs and outputs of HMV
The operations of HMV are supply management, stock management, customer relations, staff/personnel management, sales, advertising, international operations and joint ventures (HMV, 2013, pp.8). Supply management operation is the procedure of buying and managing resources for the business needs and processes of an organisation (Business Dictionary, n.d.d). In the case of HMV it is the purchasing of inventory goods to be sold as products in their retail process and the management of said goods, staff, budget and information (HMV, 1921). Stock management operation is the supervision of the inventory of a business ensuring it meets consumer demands (Business Dictionary, n.d.c); in HMV’s case it is maintaining the stock levels of products to be sold.
Customer relations operation is the way a company can build a rapport with their customer, manage the relations made and ensure the loyalty of the customer (Business Dictionary, n.d.a). HMV uses their purehmv incentive program to ensure the loyalty and return of customers (HMV, 1921). Personnel management operations is the recruiting and investing in employees in order to retain said employees and make them important to the business (Business Dictionary, n.d.c). For HMV this would be the hiring and development of staff within. International operations for HMV is the management and development of their international stores and profile, they have stores in North America and Asia pacific. Joint venture operations for HMV is the 50% investment in 7digital an online retailer of digital music (HMV, 2013, pp.8)....