Answer To: MMM132 Management Trimester 2, 2020 Assessment 1 Individual Written Assessment – 40% In three parts...
Kuldeep answered on Aug 29 2021
Analysis & Evaluation
Management
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Executive summary
This report includes analysis as well as management ideas with Kmart theories and its related concepts to examine and analyze particular aspects through the four main tasks: overall environment, environment, ethics and social responsibility and Kmart managers. In addition, the report assessed the impact of technology on Kmart's overall environment. In addition, the report analyzes the impact of advocacy groups in specific environments. In addition, the report also discussed Kmart's concept of moral and social rationality (SR). Finally, this report discusses responsibilities as well as four management skills. It is assumed that the information appropriate to this study has applied for postgraduate work at Kmart. This report results are based on peer-reviewed academic journals (a well-known source and company’s website).
Contents
Executive summary 2
Introduction 4
Task 1 4
Analysis & Evaluation of impact in 2019/2020 of technology on the general environment for Kmart 5
Task 2 6
Task 3 8
Analyses and evaluate the ethics and SR of Kmart in 2019/20 8
Task 4 10
References 13
Introduction
Kmart Australia, established in 1969, has a history of more than half a century. It has grown from a store to a chain of department stores, with more than 200 stores in Australia and New Zealand and employs more than 30,000 employees(Kmart.com, 2020). Lastly, TOWS analysis, SWOT analysis, as well as Ansoff table are provided to show few main insights of report results. Although Kmart has benefited from the constancyof retail market, development of the online shopping, as well as globalization, it still require to address moral business practices as well as impact of the trade wars. The main function of this report is to explain and discuss the concepts of specific and general environment, social and ethics responsibility, as well as manager skills in Kmart. The first two parts define concepts about the specific environment and general environment, and then study the impact of technology and advocacy groups(Stowell and Stowell, 2017). The last two parts include an assessment of Kmart's social and ethical responsibilities and Kmart manager skills.
Task 1
'The overall environment includes economics and technical, political/legal and socio-cultural trends that affects organization indirectly. Some changes in some sector in the overall environment will affect most associations. For economy, if many people are working moreover wages are increasing, then customers have more money to spend; hence, as the economy grows, more products are sold(Roberts, Roberts, Danaher and Raghavan, 2015). Therefore, whether to recruit more employees or staff, purchase various equipment and basic business related decisions are all affected by the financial system. For technology, it can help companies use knowledge and technology to convert their inputs into outputs(Panetta, 2018). For social culture, cultural and social changes in attitudes, behavior, beliefs and demographic characteristics will affect demand for corporate goods. Regarding political/legal trends, regulations, legislation,and court related decisions are the political/legal components. Every employer has to understand the new laws as well as regulations, and it is the employer's responsibility to completely educate them on the law(Graff, 2006). This may expose the enterprise or company to the risk of fines, fines or legal fees. In addition, Kmart has adopted new technologies in its shopping malls to help or support them provide good services and produce products effectively and efficiently.
Analysis & Evaluation of impact in 2019/2020 of technology on the general environment for Kmart
According to the "Global Retail Trends 2019" report written by KPMG International, retailers are providing highly personalized services to their customers. New technologies such as voice recognition and chatbots have also been used to automate the shopping experience, and these practices have become the standard and accepted by users (Bondar, Mashkov and Mikheev, 2020).In addition, due to advances in technology, e-commerce is growing worldwide and in Australia. Therefore, global e-commerce is expected to grow at a considerable rate of 20.7% in 2019, achieving a total value of more than 25 trillion US dollars.There are a few technical issues in the Kmart Corp business, especially Taiwan’s Kmart Corp manufacturers do not have their innovations as well as still rely on global technology partners. Social networks and networks provide customers with a system for sharing their views and experiences with the entire community. If most of the experience happens to be negative, then the general consensus is to go shopping elsewhere(Woodall, 2007). Just like the Internet, technology has undergone extensive changes. In fact, this is another area of the external environment that companies must strive to understand in order to achieve competitive advantage. Technology can be seen everywhere, and technology is getting better day by day. Technology has plagued Sears and Kmart’s previous strategy. In order to bridge digital shopping and in-store shopping, Sears and K-Mart demonstrated iPad and iPod touch accessories to nearly 450 retailers in the region. Kmart hopes to improve the relationship between customers and partners, and improve general shopping knowledge, adding: “This is an integral part of our strategy, aiming to become more integrated retailers and improve the company The internal number and full format are combined(Stowell and Stowell, 2017). This shows the impact of technology on the real estate agent mls database. Today, Target and K-Mart are still trying to use advanced technology to improve.
Task 2
According to(Stowell and Stowell, 2017), specific environments include consumers, suppliers, competitors, business regulations moreover advocacy teams that can affect the company's business. "The business is usually viewed as a consumer of...