: Growth Stategies- Home Entertainment Retail Industry

Assessment Task 3 – BUS304 Evidence based strategy creation

ASSESSMENT TASK 3: Growth Stategies- Home Entertainment Retail Industry

Value: 45%

Due Date: Sunday, Week 12

Length: 200-2500 Words (+10% MAX)

Assessment Description

Task: Assignment 3 builds upon the second assignment and focuses on

developing strategies for growth and efficiency. In assignment 2 you

already considered relevant market characteristics and identified key

challenges and opportunities for the industry players.

For assignment 3 you are required to suggest strategies for growth using

organic and inorganic growth models, possible mergers and/or

acquisitions, appropriate retrenchment strategies to achieve efficiency

and some cooperative strategies.

Preparation: In preparation, you should review the detailed assignment instructions

in the Learnline assessment folder. Please don’t stress about the

assignment or attempt to start it before you have been given further

instruction.

As the unit progresses, you will be guided through the assignment, so it

will be important to engage with the assignment-related activities.

You will also be guided as to the reading and resources you should bring

into the assignment.

Presentation: Please keep to the word count and follow the assignment instructions

closely, using the same headings. (Do not include an Executive

Summary).

Please indicate the number of words written in each section, as well as

the total word count at the end.

You may attach appendices to provide context to your assignment, but

please note that appendices do not contribute to the marks.

Please use a recognized journal-style referencing formats such as

Harvard or APA. Be sure to consult the assignment rubric and detailed

instructions in the Learnline assessment folder for more details.

Assessment Task 3 – BUS304 Evidence based strategy creation

NB. Please submit a Microsoft Word document and not a pdf.

Assessment criteria: For the purpose of this assignment, you must demonstrate a

clear understanding of the business strategy and planning

process using the concepts and themes covered in the unit

lessons.

SPECIFIC DETAILS: Assignment background and industry context This assignment involves the development of strategies for growth and efficiency. It will improve your appreciation of the various growth and efficiency models. In this assignment, you will perform the same tasks undertaken by strategists at functional (NPD, Market Penetration and Market Development) and corporate levels (Mergers and Acquisitions, Restructuring, and Cooperative strategies) for growth and maintaining the efficiency of a business. More specifically, you will describe the strategic rationale for possible organic and inorganic growth strategies, restructuring approaches, and cooperative moves to expand the business as well as achieve efficiency for an improved bottom line. The challenging home entertainment retail marketing environment has resulted in the recent development of new-generation products, new market segments, and possible restructuring opportunities to achieve a variety of strategic objectives. For Assignment 3 you will focus on proposing some of such initiatives for your target corporate brand. Specific assignment tasks Assignment 3 assumes that JB Hi-Fi Australia is considering expanding its business in some South Asian markets where it is not currently present (this is just an assumption). You will be required to choose ONE of these countries as a potential ‘target market’ and reflect on the following with the help of data:

1. Conduct an assessment of the target market potential 2. Suggest possible growth strategies using models of market penetration, new product

development, and market development 3. Identify potential merger and acquisition opportunities and suggest strategies 4. Identify potential restructuring moves to gain efficiency 5. Suggest possible cooperative strategies

More specifically, your assignment should contain the following headings/sections:

1. Introduction (approx. 250 words) Introduce your assignment content. Describe the importance of growth and retrenchment strategies for business. Identify your target market here (from

Assessment Task 3 – BUS304 Evidence based strategy creation

amongst the South Asian countries). Summarise your assessment in this section and identify assumptions, if any. 2. Assessment of Target Market Potential (400 words) Conduct a target market potential assessment to justify your choice. Week 8 lecture

slides on market penetration and market development provide a framework for

developing market potential assessment.

3. Growth Strategies (approx. 700 words)

A. Organic Growth This section describes how JB Hi-Fi Australia can take advantage of various organic growth strategies, including new product development, market development and market penetration, to expand and establish its business in the targeted market. Please note that more than one approach can be adopted simultaneously to promote various brand divisions in the portfolio. Justify your choice with data or based on literature related to the growth strategies.

B. Inorganic Growth Reflect on the possibility of any merger and acquisition opportunity and explain why such a strategy may come in handy. Demonstrate the benefits and suggest precautionary measures to avoid failure of such strategy. Also, identify target companies for related and/or unrelated mergers/acquisitions. 4. Restructuring Moves (approx. 500 words) Based on the assessment of JB Hi-Fi Australia brand portfolio, identify areas for downsizing and downscoping, and justify how would such a strategy result in improved profitability. BCG matrix analysis can be useful to recognize such opportunities. 5. Cooperative Strategies (approx. 500 words) In order to be successful and to get a kick start in your targeted market, suggest how

and with whom would you develop any strategic alliance or enter into joint ventures.

Reflect on the type of strategic alliance(s) that might be possible and rationalize how

they would benefit JB Hi-Fi Australia in its quick entry and establishment in the new

market. You are free to select from other possible cooperative strategies as well,

such as franchising, network cooperative strategy etc. Justify your choice with the

objectives you intend to achieve with suggested cooperative strategies.

6. Conclusion (approx. 150 words) A brief overview that reiterates the importance of strategic planning and stresses the significance of implementing an effective strategy for business success.

Assessment Task 3 – BUS304 Evidence based strategy creation

Assessment format To successfully complete this assignment, you should prepare a report that:

▪ Is a Microsoft Word document and not a pdf.

• Is well written and properly spell-checked and proof read.

• Follows the assignment instructions closely and uses the same headings.

• Indicates the number of words written in each section, as well as the total word count.

• Uses a recognized business journal style of referencing format such as Harvard or APA.

• Is 2500 words long MAXIMUM (excluding figures, appendices, bibliography - please note that appendices do not contribute to the marks). There is a considerable amount to cover, so it will be important that you write clearly and concisely.

Submission & mark allocation The assignment must be submitted on time via Learnline.

% allocation of marks for this assignment is as follows:

Introduction 5

Assessment of Market Potential 15

Growth Strategies 30

Restructuring Moves 20

Cooperative Strategies 20

Report structure/presentation and effective referencing, citation, and evidence of adequate literature search

10

Total 100

(See Learnline for further details of assessment submission and marking procedures/policy).