BUS5MMS Marketing Management Assignment Help

BUS5MMS Marketing Management Assignment Help

BUS5MMS Marketing Management Assignment Help

Introduction

Human resource management refers to the operation of the organization which is designed to maximize the employee performance in the service of employee strategic objectives. Organizational behaviour is considered as study of the way people interact within groups. It has been observed that human resource management understands the organizational behaviour through their scientific approach which is applied to the management of works. JB HI-FI is a popular public retail organization in Australia. This popular organization was established in Keilor East, Victoria in 1974. The organization has expanded their business in more than 194 locations.  Therefore, this report is based on the human resource management, organizational behaviour, international supply chain management, information technology used by the JB Hi-Fi. After that the learner has discussed the entrepreneurship and innovation of the organization (Jbhifi.com.au, 2016). Finally the learner has planned to develop appropriate recommendation based on the analysed issues. 

Background

JB Hi-Fi is popular retail organization in Australia and New Zealand specialised for video games, blu-rays DVD, electronic gadgets and home appliances. According to the market research it has been found that JB Hi-Fi is one of the fastest growing business organizations in Australia. However this organization has faced market competition with other retail organizations such as Harvey Norman, The Good Guys, Myer, David Jones and Target Australia. The commercial division has been developed by the organization is based on the sales increase in electronic and telecommunication products and hospitality and education sectors. It has been found that this organization operates discounts electrical superstores across Australia except Tasmania and specialised in different departments such as consumer electronics, white goods, cooking appliances and air conditions. However, due to tough market competition and poor business environment, the market share of the organization gradually deceased from September. It also affects share price of the organization. Therefore, the share price of the organization has decreased and finally it closed at $17.80 on the end of November 2014 (Cavusgil et al.2014). It also affects the annual revenue, which was almost $14bn and decreased approximately 2.4% than previous year.

The organization has more than 37,200 employees to conduct their entire business. It has been noticed that IBIS World has estimated that JB HI-FI spends $3.58 million on their wages. This organization is relatively labour intensive and relies on employees to handle daily retail operations such as providing customer service, stocking shelves and displaying merchandise, processing transactions and tracking inventory (Klarsfeld et al. 2014). According to the organizational financial report, the wage costs have increased marginally over the past five years due to the introduction of the general retail industry award in 2010 and the labour expanse is also increased (Forman, 2014). The supply chain management system of the organization has achieved highest level of flexibility in the supply chain network through integration of the supply of goods or importing goods from other countries. The organisation has already implemented buying authority program for managing their flexible supply chain management system.

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JB Hi-Fi is now Australia’s largest and fastest growing home entertainment product retailers featuring customer electronics, car sound systems, music and DVDs. It has been found that the organization operates from standalone destination sites   and shopping centre locations. The business success of the organization is depending on the low pricing strategy and its operations which are relatively high stock turns and low cost operating system. According to the annual sales forecast, sales percentage in electronic segment has increased in all segments.

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Body of the report

Human Resource Management:

The human resource management department is concerned about the issues and employee related legislation. Generally the roles and responsibility of the human resource management is to manage the employees, recruitment, employee motivation, performance monitoring and training and skill development. The human resource executives of JB Hi-Fi are very much concerned about maintaining Maslow’s hierarchy of needs and Herzberg motivational strategy to manage the entire workforce. Apart from that human resource officials have acted as recruiter.  Generally two types of recruitment process are maintained by the HR department such as internal recruitment and external recruitment. As stated by Tolentino et al. (2014, p.39), internal recruitment has been conducted by the human resource management department based on the transfer, references, performance appraisal and re-employed. The human resource management department has implemented external recruitment process through the advertisement, employee exchange, employee agencies, recommendations and labour contracts. The human resource management has designed recruitment and selection structure based on the different steps such as head hunting, formal interview, skill test, selection and training.

As opined by Karimi et al.(2014, p.178), managers are the leaders, who play an integral role in the organization. Therefore the managerial hierarchy has been developed for specifying the functions that they fulfil within the organization. According to the management hierarchy of JB Hi-Fi, three different level managers play integral role for increasing the organization performance. Generally first level managers are the bottom line of the management hierarchy. Basically they communicate and manage non-management employees. They supervise the retail business or the other capacities that involve the day to day business operations.  Mid-level managers are the upper level of the first level managers. These managers involved in the daily company operations but they always depend on the input of the first level managers (Lyons and Kuron, 2014, p.139). Mid-level managers generally act as an operations manager, general manager or regional manager. Upper-level managers are considered as a top of the executives in the organization. They always rely on the activities of the mid-level managers to determine the direction that the organization is heading and if any changes required for the organization. The chief executive officers, top leaders and chief financial officers are considered as upper level officer who are generally responsible for developing the company’s vision and making the decision regarding executives which affect the organization’s future.

Training session has been arranged by the training and skill development department. The human resource management department has tried to analysed the requirement of the organization and evaluate the skill of the employees. After that, the responsibility of the entire training session is on the training and skill development department (Kuipers et al.2014, p.15). It has been observed that effective communication skill development and personal and professional skill development are the two key training session for the retail sector employees. Those training session motivates employees to deliver excellent communication style to handle customers and good behaviour to satisfy customers.

The human resource management and team leaders have implemented motivational strategy for the sales executives to enhance the customer satisfaction and customer retention for increasing the sales of the organization. The human resource management executives have implemented financial reward system and performance appraisal to increase the employee motivation. The HR executives have implemented the motivational strategy by the end of 2011 and it has increase the profit in 2013.

Organizational behaviour:

JB Hi-Fi management has developed their interpersonal skills for managing effective management system. The management has investigated the impact of the employees and managerial structure of the organization and then new strategic development to work more effectively. The operational management is concerned about the productivity improvement, reduce absenteeism, employee turnover, and increase citizenship of the employees and increase job satisfaction of the employees. It has been observed that organizational behaviour is much related with the psychology, social psychology and culture anthropology. It has been noticed that the organizational behaviour of JB Hi-Fi has been maintained by personality theory, attitudes and values, learning and motivation, interpersonal behaviour, group dynamics, teamwork and leadership, structure of the organization decision making process, negotiation and conflict (Limnios et al.2014, p.105).

JB Hi-Fi management has maintained the operational behaviour based on emotional intelligence theory in order to identify, integrate and understand and reflectivity manages their employees’ feelings. There are generally two views on emotional intelligence, one is positivists and the other is constructivist or interpretivist. According to the positivists view, existing interdependency has been maintained by the organization with the help of emotional intelligence.  On the other hand the constructivist or interpretivist view, the emotional intelligence has reflected the personal preference of the employees in the workplace. It has been observed that managers have maintained employee satisfaction. According to the employees’ feedback, they are involved for assisting the customers about their enquiries and searching appropriate products in the retail shops (Yinan et al.2014, p.172). The responsibility of the staffs to maintain the stores and packed the goods.  There is minimal intellectual challenge in the work environment. Therefore, the employees have assisted the customers by imparting the useful knowledge and identifying the right product which fulfils the requirements of the customers.

International supply chain:

The supply chain management of JB Hi-Fi has been influenced by the sourcing or purchasing design matrix and supporting theory. According to the supply chain management theory, the supply network strategy is supported by the concept of supply networks. The supply network is supported by two different operations such as supply network relationship and supply network behaviour. The supply network relationship is supported by vertical integration, partnerships and market trading (Schaltegger and Burritt, 2014, p.232). On the other hand the supply network behaviour is supported by the network dynamics and network management. The network dynamics operation is supported by quantitative and qualitative operation. The network management is maintained by co-ordination, differentiation and reconfiguration.

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It has been observed that JB Hi-Fi has maintained three types of supply relationships such as traditional market supply, long term virtual operation and virtual spot trading. The traditional market supply of JB Hi-Fi has been influenced by the virtual integration and the organization has developed partnership supply relationships to get a sustainable position in the competitive marker. In order to increase market relationship, the organisation has implemented long term virtual operation. Therefore, resource scope and market relationship are two factors which increase the activity of the supply chain management for developing a sustainable position in competitive Australian supermarket.

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Information technology:

IT strategy of the JB Hi-Fi has been developed by the information technology management professionals in order to guide the organisation. The implemented IT strategy of the professional covers different facts of the technology management such as cost management, hardware, human capital management, software management, risk management, vendor management and other IT environment. It’s been crucially observed that strong IT leadership   helps the chief information officer and chief technology officer for budget execution and managing legal departments (Cajaiba-Santana, 2014,p.45). The organization has chosen formalize information technology for their written documents or evaluation of balanced scored map.

It has been found that nonverbal communication system of the organization is based on the information technology such as email. The project development department has uploaded the new concept or forecasted data in the cloud storage system so that they can access those data in the conference (Autio et al.2014, p.1098). However, the confidential data or market research report is secured by the firewall and other security software in order to reduce threat regarding data theft.

Entire business operation is based on the bar coding system. Therefore the products have been tracked from manufacturing to selling process through the integrated software and monitoring system. On the other hand the organization can easily provide after sales service to satisfy their potential customers which improves the customer retention and customer attraction. Bar code tracking system is also helpful for online retail also because the customers can track their ordered product with the help of barcode (Meyer et al.2014, p.476). Therefore, the contemporary information technology also increased the sustainability of the organization in competitive market in Australia.  It also improves the customer satisfaction and interest by delivering non-comparable service and easy tracking system from product order, packaging to delivery and even in servicing time also.

Entrepreneurship and innovation

Entrepreneurship refers to the process of designing, launching and running a new business which is typically in a primary stage. The entrepreneurship is familiar with the product offering, processing and servicing. Entrepreneurs are followed various types of theories such as resource based theory, psychological theory, sociological or anthropological theory and opportunity-based theory to explain the phenomena of entrepreneurship (Cavusgil et al. 2014).

According to the economic entrepreneurship theory, the organization has received significant criticism for failing in recognizing the dynamic market trend, nature of marketing strategy and nature of entrepreneur activity.

According to the resource based entrepreneurship, the entrepreneurs have got the liberty to promote their business through social media and provided the information about the business. It has been observed that some exceptional cases, the intangible elements of leadership have been included by the entrepreneur in order to operate the business.

According to the Rotter’s psychological theory, the customers have strong internal locus of control on their belief as well as their actions. However, belief and actions are influenced by the external factors such as marketing or promotional strategy chosen by the entrepreneur.

As stated by Forman (2014), the success and market development of the entrepreneurship is strongly connected with the product innovation. The entrepreneurs have implemented different product innovation strategy to enhance their product popularity and product demand in market. The product popularity increases sales as well as increase the brand value. Therefore continuous innovation increase the brand sustainability in supermarket as well as it retains customers and attract new customers for increasing profitability (Hogg and Terry, 2014). However, it has been noticed that JB Hi-Fi is retail store but they are not interested about product innovation. It also harms their business and creates tough market challenge in Australia. As a result their revenue has decreased and the organization has endured a tough time in the middle of present financial year.

Recommendations

Online support: Like other organization, JB Hi-Fi has to develop 24/7 online customer care for their potential customers. As it has been noticed that JB Hi-Fi already has online retail shop, therefore 24/7 online customer care support also help those customers who purchased product online. The customer can easily access the order related information, reason for delay or change of delivery date or place. It will increase the sustainability in high competitive market by engaging more customers with the help integrated customer support.

Social media marketing: In modern times, almost every organizations implement social media marketing because of its effectiveness and efficiency. Therefore JB Hi-Fi has to design their social media marketing strategy through social media sites such as YouTube, Facebook and twitter.  It will cost and efficient enough for the organization to increase the popularity of the retail store. Apart from this the marketing experts have to publish latest promotional deals to attract new customers and retain old customers. The marketing managers must have handling ability of negative feedback in social media. The social media marketing will increase their sustainability by attracting the new customers from social media.

Application support: The organization has to develop smart phone based application so that the customer will attached with this organization for long time. The mobile application is easy accusable than website. Therefore new application will increase the sustainability through customer satisfaction and customer retention.

Product innovation: The organization has to implement product innovation techniques to attract new customers. The product innovation would be conducted by the research and development team based on the feedback of the customer and market research report. Therefor the product innovation strategy will increase its sustainability in national and international market and give them additional strength in competitive market.

Conclusion

This report is based on the popular retail store JB Hi-Fi. The learner has analysed the background of the organization and discussed the local operation and supply chain management system of the organization in a brief manner. After that the author has discussed the human resource management system, organizational behavior, and international supply chain and information technology of the organization. After that the learner has critically evaluated the entrepreneurship and innovation strategy of the organization with the help of theories. Finally the learner has recommended some valuable operation which will increase their sustainability in Australia supermarket.

Reference list

Books:

Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., and Rose, E. L. (2014). International business. Pearson Australia.
Forman, R. T. (2014). Land Mosaics: The Ecology of Landscapes and Regions (1995) (p. 217). Island Press.
Hogg, M. A., and Terry, D. J. (Eds.). (2014). Social identity processes in organizational contexts. Psychology Press.
Klarsfeld, A., Booysen, L. A., Ng, E., Roper, I., and Tatli, A. (Eds.). (2014). 9.78 E+ 12: Country Perspectives on Diversity and Equal Treatment. Edward Elgar Publishing.