Small Business Enterprise
4.a Assess the impact of changes on business and associated personnel
4a.1. On business itself
Providing new product line (cosmetics), customers have more choices for their needs. Previous period times, most of customers are living within Hanoi, often have high and maintain income. But now, Intershop’s target extends to people whose have average income. Beside clothing, they can choose cosmetics such as perfumes, skin cares, conditioner and so on.
The new business plan will decide the growth of business in future and create more challenges that need improving. By this way, managers and staffs can identify strengths and weaknesses in marketing, operation, management and financial. From that, they are able to produce solutions, policies in order to solve problems, overcome weaknesses and maintain its strengths.
Using new strategies in performances, Intershop will become more and more professional in running its business activities. These changes will make Intershop from small-sized to mid-sized business. After expanding product line, employees – especially the sale managers and account should prepare more for the growth of business. The changes in marketing and operation, Intershop could attract more customers. Moreover, forecast financial statement would be better than before.
Intershop needs to adapt with new condition in market. Since the price of clothing, cosmetics or even renting, electricity, etc. are increasing, shop should cut some unnecessary needs out or change their main focus on business. For example, shop still sells clothes but now concentrate on cosmetics because it has lower inputs than clothing and easier to sell than clothing.
New strategies might also raise competitive rivalry among shops. Intershop would face with strong defenses, aggressive acts from its competitors in market such as expansion of product lines, more services, lower price and so on.
4a.2. On management team
Regularly, employees are scared of change.
4a.1. On business itself
Providing new product line (cosmetics), customers have more choices for their needs. Previous period times, most of customers are living within Hanoi, often have high and maintain income. But now, Intershop’s target extends to people whose have average income. Beside clothing, they can choose cosmetics such as perfumes, skin cares, conditioner and so on.
The new business plan will decide the growth of business in future and create more challenges that need improving. By this way, managers and staffs can identify strengths and weaknesses in marketing, operation, management and financial. From that, they are able to produce solutions, policies in order to solve problems, overcome weaknesses and maintain its strengths.
Using new strategies in performances, Intershop will become more and more professional in running its business activities. These changes will make Intershop from small-sized to mid-sized business. After expanding product line, employees – especially the sale managers and account should prepare more for the growth of business. The changes in marketing and operation, Intershop could attract more customers. Moreover, forecast financial statement would be better than before.
Intershop needs to adapt with new condition in market. Since the price of clothing, cosmetics or even renting, electricity, etc. are increasing, shop should cut some unnecessary needs out or change their main focus on business. For example, shop still sells clothes but now concentrate on cosmetics because it has lower inputs than clothing and easier to sell than clothing.
New strategies might also raise competitive rivalry among shops. Intershop would face with strong defenses, aggressive acts from its competitors in market such as expansion of product lines, more services, lower price and so on.
4a.2. On management team
Regularly, employees are scared of change.