environmental report

0 Page

Effectiveness of Retail Networks

...

Course

MNGT1001

Subject

Management

University

The University of Newcastle

Season

Spring

3 Pages

EVM201 Event Management

Fully describe the event. (who, what, where, when, why) Give an event history Provide your perspective of the event with a detailed S.W.O.T. analysis. Describe the event's legacy. Detail the pla ...

Course

EVM201

Type

Assignment

Subject

Management

University

Acadia university

16 Pages

Academic Malpractice Statement

Course

CS1PSA

Subject

Management

University

Aston University

Season

Spring

Question

Answered

Case Study: Bargaining power of suppliers is similar to the bargaining power of buyers. However, this reflects the bargaining leverage suppliers have on the producing industry instead.
Suppliers in Singapore have a relatively high leverage over the industry due to the many different customers they have. Having small and fragmented stalls all over the country, suppliers have the upper hand to supply to the many different stalls. Spize may have to be well known and powerful to curb supplier’s bargaining power. These is due to brand name and sovereignty which out shadows suppliers bargaining leverage.
5.4Threats of substitutes
In Porter’s model, substitute products does not mean alternatives in the same industry, but refers to substitute products in other industries (Stimpson & Farquharson, 2010).
In the F&B industry, the threat or substitutes are rather low or non-existent. This is due to the fact that food has no close substitutes. Even if food is alternated for healthier products such as fruit juices or supplements, such alternatives only appeal to a rather small market. Thus Spize may not have issues with threats from substitute products since it is dealing in the F&B industry.
5.5Competitive rivalry
Competitive rivalry sums up the most important factors that determine the level of competition or rivalry in an industry. It is based on the other four factors, which is why it is often illustrated in the centre of the Five Forces diagram (Stimpson & Farquharson, 2010).
Competitive rivalry in the F&B industry in Singapore is high due to the fact that there is high threat of new entrants, high bargaining power of buyers and high bargaining power of suppliers. Furthermore, market growth in the industry is rather slow, thus forcing firms to take a share from rivals if they wish to increase sales, and there is currently a large number of firms in the industry.
6.Recommendations
Spize should expand in Singapore by taking advantage of the strong and stable foundations of the country as analysed by the PESTEL analysis through economies of scale. Economies of scale happens when there is a reduction in a firm’s unit cost of production that results from an increase in the scale of operation (Stimpson & Farquharson, 2010). In the case of Spize, with the current two outlets, a third outlet may allow them to further enjoy purchasing economies of scale through bulk buying. The lower cost of inventories may benefit them in terms of profit margins. Furthermore, management economies may be enjoyed by Spize with the extended duties of current managers to run the three outlets.
Expansion plans may also require Spize to revamp their marketing mix to ensure a smooth and successful expansion. Hence Spize may embark in Customer Relationship Marketing (CRM). CRM uses marketing activities to establish successful customer relationships so that existing loyalty can be maintained (Stimpson & Farquharson, 2010). These is essential for Spize since there is a high competitive rivalry in the F&B industry in Singapore as analysed in the Porter’s five forces analysis. An effective and efficient tool to curb competitive rivalry is through keeping loyal customers coming back. Thus Spize may need to gain as much information as possible about each existing customer and adapt the 4Ps of the marketing mix to meet these needs as closely as possible.
Another way for Spize to keep loyal customers and to attract new customers at the same time is to take advantage of the technological advances of Singapore and embark in innovative ways of operations. One way Spize could do this is to employ technological gadgets in their outlets for customers to use to take orders, which is an interesting and fun concept. This may not be a genuinely new concept, but Spize may want to adopt it as it may help solve the problem of workforce issues as well, such as the foreign labour curbs which Singapore is facing now. In a way, this may help to solve two problems at once. Alternatively, gadgets may be used to manage staffing and inventory issues which once again reduces the need for manual labour.
7.Conclusion
In conclusion, Singapore has a vibrant and conducive environment for business to operate in and prosper. Nevertheless, the F&B industry is a highly competitive industry. Spize will need to make efficient and effective decisions to ensure its sustainability and success in the industry. Moreover, the fact that food is a necessity to all humans may also help cushion Spize in their operations as an F&B business.

Environmental Report

Answer in Detail

i Solved by qualified expert

Get Access to This Answer

Get Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Page 1 of 19

18 More Pages to Come in This Document. Get access to the complete answer.

Get Answer

MyAssignmenthelp.com has emerged as one-stop solution for students in USA. We have assembled a team of experts to help students from different fields of study. With a pool of 3000+ experts, we are capable of providing top-notch quality plagiarism-free assignments within any short deadline. Our assignment writing services cover more than 100 subjects such as accounting assignment help, maths assignment help, economics assignment help, law assignment help and statistics assignment help.

More Environmental Report: Questions & Answers

Management

RES420

Auckland University of Technology

RES420 Fundamentals of Real Estate

For the purposes of this assignment, you have recently joined the team as the newest salesperson at Waterford Real Estate Ltd, working at the Waterford East branch under the leadership of John Canon.Task 1: First home buyersYou are working with customers, Tom and Lucy Bradshaw, who are keen to purch ...

Management

MNGT1001

The University of Newcastle

Effectiveness of Retail Networks

...

Management

EVM201

Acadia university

EVM201 Event Management

Fully describe the event. (who, what, where, when, why) Give an event history Provide your perspective of the event with a detailed S.W.O.T. analysis. Describe the event's legacy. Detail the plans for the 2021 event Identify the type of hosting organization. (according to the definitions discu ...

Management

CS1PSA

Aston University

Academic Malpractice Statement

CS1PSA Professional and Social Aspects of Computing 1. This exam requires you to answer three questions based on the following scenario so please read it carefully. The answer to EACH question must b e typed on a SINGLE PAGE using a font size NO SMALLER THAN 11. This means you need to plan your answ ...

Choose Our Best Expert to Help You

Mamie Dunn

Observant Operations & Supply Chain Expert

1411 - Completed Orders

Scoot Fischer

Unmatched Quality Management Expert

1478 - Completed Orders

James Irby

Organised Operations & Supply Chain Expert

1418 - Completed Orders

Taylor McNairy

Amazing Accounting Expert

1365 - Completed Orders