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BUSINESS REPORT
INCREASING THE DEPARTMENT STORE’S PROFITS
FOR
INCREASING THE DEPARTMENT STORE’S PROFITS
Prepared for
John Smith
General Manager
HARRODS department store
Prepared by
Peter Albert
Chief advisor
TWCB
July 15, 2013
MEMO
DATE: 07/15/2013
TO: John Smith
FROM: Peter Albert
SUBJECT: INCREASING PROFITS
Here is the report you requested on Jul.12, 2013 on the department store’s profits.
Your uneasiness was right. As we only focused on some high-quality products, we can’t expand market share in other aspects, then the profits fell sharply.
The solutions to the problem are clear. We need to take some cares in other marketing.
Set up some convenience stores, discount stores and speciality stores as competition did.
Expand foreign retail chains in some economically potent states like China and Japan.
Make transition of service mode to follow the consumer demands.
Thank you for giving me the opportunity to work on this assignment. If you have any questions about the report, please call me.
Executive Summary
In the past six months, the profits of Harrods department store’s fell sharply. As a result, several similar famous store groups are now heavily in debt. The report studies the cause of the fell and recommends solutions to the problems.
Causes of the fell
We have found three causes relating to the fell:
Market Positioning is inflexible.
The Foreign market didn’t develop well.
Service concept was out of date.
Some positions and service concepts are out of date, it’s lower customer satisfaction. We also found that a large number of staff numbers and managers lack awareness to follow with customer’s consumption concept. Harrods department store may start training their staff to keep up with modern customer’s idea.
Measures to Increase the Profits
Set up some convenience stores, discount stores and speciality stores as competition did.
Expand foreign retail chains in some economically potent states like China and Japan.
Training staff. Make t
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