COMMERCE 4MF3 Lecture 2: Lecture 2
19 Jan 2019
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Document Summary
Retailer"s mission statement specific goals swot strategy. It is about putting a structure in place and executing it. The anticipation and organization of what needs to be done to reach an objective. It is what leads to success, you need a good plan. When you have consumer styles that is changing frequently, it is difficult to anticipate and make a plan (colours, style, quantity, sizes). We are lucky in canada to have all four seasons. For example, if there are two tim hortons close by the customer base eat each other"s base. The second tim hortons that opened up and took the other stores consumers: chapters did a good job at making an online store because they differentiate the offers. Strategic planning: it is about adapting resources to a situation of the firm to the opportunities and threats of constantly changing retail environment: resources are finite (i. e. capital, raw material, amazon has changed the retailing landscape.
