PLANNING AND LEADING A COMPLEX TEAM ACTIVITITY
PLANNING AND LEADING A COMPLEX TEAM ACTIVITITY
Be able to plan a complex team activity
Since Malta joined the European Union in 2004, the free movement of goods and services within the community, brought about through membership, has re-defined the roles and relationships between suppliersand retailers. It has therefore become increasingly common for retailers to bypass importers/suppliers and purchase directly from the source. In the meantime, Malta being a country with limited natural resources, a favourable climate and long history, Malta's economy has traditionally been highly dependent on tourism. As a direct result of the current global recession, the number of tourists visiting our island is expected to decline over the next 5 years. This set off an alarm to all importation and tourism dependent businesses causing them to review their business strategy and identify additional business opportunities.
My line of business is the importation and distribution of silver filigree jewellery to retail outlets, which target mainly tourists, and summer accounts for about 80% of my total business. So, after I experienced slower than prior year’s growth in sales last year, I started giving serious consideration to opening a single or chain of retail outlets. My primary objective was to deliver my products to tourists directly and at the same time promoting my products instead of relying on my retail competitors to do it.
My greatest concern at first was how to deal with the reaction of loyal retail clients to this proposed new strategy. Will they still be willing to purchase goods form me once they perceive me as a competitor instead of a reliable “partner”? However, eliminating the middle person should almost double my gross profit margin as well as provides me with greater control of my own destiny. In order to go down this path I will also have to consider the capital investment which will be required and the increase in operating costs this change in
Be able to plan a complex team activity
Since Malta joined the European Union in 2004, the free movement of goods and services within the community, brought about through membership, has re-defined the roles and relationships between suppliersand retailers. It has therefore become increasingly common for retailers to bypass importers/suppliers and purchase directly from the source. In the meantime, Malta being a country with limited natural resources, a favourable climate and long history, Malta's economy has traditionally been highly dependent on tourism. As a direct result of the current global recession, the number of tourists visiting our island is expected to decline over the next 5 years. This set off an alarm to all importation and tourism dependent businesses causing them to review their business strategy and identify additional business opportunities.
My line of business is the importation and distribution of silver filigree jewellery to retail outlets, which target mainly tourists, and summer accounts for about 80% of my total business. So, after I experienced slower than prior year’s growth in sales last year, I started giving serious consideration to opening a single or chain of retail outlets. My primary objective was to deliver my products to tourists directly and at the same time promoting my products instead of relying on my retail competitors to do it.
My greatest concern at first was how to deal with the reaction of loyal retail clients to this proposed new strategy. Will they still be willing to purchase goods form me once they perceive me as a competitor instead of a reliable “partner”? However, eliminating the middle person should almost double my gross profit margin as well as provides me with greater control of my own destiny. In order to go down this path I will also have to consider the capital investment which will be required and the increase in operating costs this change in
Bibliography: Pratt, J, J, 2009. Turtle on a Fence Post: Wisdom Graduates Need to Make It in the Real World, 365 Days of Life Lessons. 1st ed. UK: Agio Publishing House, 2009.