The document outlines a group assessment for EBUS1514, including a declaration of understanding regarding plagiarism and academic misconduct. It contains an environmental analysis of The Herholdts Group, detailing market and macro environment factors affecting the business, as well as a structured approach to client assessment by The Central Media Group. Additionally, it includes a meeting agenda and minutes for a product launch, highlighting discussions on marketing strategies and responsibilities among team members.
The document outlines a group assessment for EBUS1514, including a declaration of understanding regarding plagiarism and academic misconduct. It contains an environmental analysis of The Herholdts Group, detailing market and macro environment factors affecting the business, as well as a structured approach to client assessment by The Central Media Group. Additionally, it includes a meeting agenda and minutes for a product launch, highlighting discussions on marketing strategies and responsibilities among team members.
The document outlines a group assessment for EBUS1514, including a declaration of understanding regarding plagiarism and academic misconduct. It contains an environmental analysis of The Herholdts Group, detailing market and macro environment factors affecting the business, as well as a structured approach to client assessment by The Central Media Group. Additionally, it includes a meeting agenda and minutes for a product launch, highlighting discussions on marketing strategies and responsibilities among team members.
The document outlines a group assessment for EBUS1514, including a declaration of understanding regarding plagiarism and academic misconduct. It contains an environmental analysis of The Herholdts Group, detailing market and macro environment factors affecting the business, as well as a structured approach to client assessment by The Central Media Group. Additionally, it includes a meeting agenda and minutes for a product launch, highlighting discussions on marketing strategies and responsibilities among team members.
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FACULTY OF ECONOMIC AND MANAGEMENT SCIENCES
COVER PAGE FOR GROUP ASSESSMENTS
MODULE CODE: EBUS1514
GROUP NAME: GROUP 121 DUE DATE: 06 MAY2024
DECLARATION BY GROUP We have read the University’s Policy on the Prevention of Plagiarism and Dealing with Academic Writing Misconduct: We understand that we must: 1. abide by all the directives of this Policy, the Assessment Policy, course guides, specific and general regulations and assessment requirements; 2. seek assistance if we are unsure about appropriate citation and referencing techniques; 3. accept responsibility for having full knowledge of the Policy; 4. submit only our own work for any form of assessment, except where: the work of others is appropriately acknowledged; and the assessor/moderator has required, or given prior permission for, group or collaborative work to be submitted; 5. refrain from intentionally or negligently deceiving the reader by preventing our own work from being copied by another student, who may or may not have an intentional or negligent aim to deceive the reader; 6. be aware that according to the Policy, measures for all Level Four violations and repeated Levels One, Two and Three violations are reported and investigated in accordance with the UFS Statute on Student Discipline (see Chapter XIII, pp 50 – 58); and 7. include with our assignment an electronic report of the software programme if required/where applicable.
1.1 Environmental Analysis of the External Business Environment affecting The
Herholdts Group
1.1.1 Market Environment Factors:
1.1.1.1 Factor: Increasing Competition
Effect: The Herholdts Group faces intense competition from other retailers, both online and offline, which affects their market share and pricing strategy. Physical proof: A quick online search reveals that competitors like Checkers, Shoprite, and Pick n Pay have a strong presence in Bloemfontein, offering similar products and services.
1.1.1.2 Factor: Changing Consumer Preferences
Effect: The Herholdts Group needs to adapt to shifting consumer preferences towards online shopping, sustainability, and convenience, which impacts their sales and marketing strategies. Physical proof: A review of The Herholdts Group's website and social media reveals efforts to enhance their e-commerce platform and promote eco- friendly products, indicating an awareness of changing consumer preferences.
1.1.2 Macro Environment Factors:
1.1.2.1 Factor: Economic Growth and Recession
Effect: Economic fluctuations impact consumer spending, affecting The Herholdts
Group's sales and revenue. Physical proof: A news article from 2020 discusses the impact of the COVID-19 pandemic on South African businesses, including retailers like The Herholdts Group.
1.1.2.2 Factor: Government Policies and Regulations
Effect: Changes in government policies, such as taxation and labor laws, influence The Herholdts Group's operational costs and employment practices. Physical proof: A news article from 2022 discusses the South African government's plans to increase the minimum wage, which would affect The Herholdts Group's labor costs.
1.1.2.3 Factor: Technological Advancements
Effect: The Herholdts Group needs to invest in technology to stay competitive, enhance customer experience, and improve operational efficiency. Physical proof: A press release from The Herholdts Group's website announces the launch of their new mobile app, aimed at enhancing customer engagement and online shopping experiences. Question 2
2.1 Step 1: Self-assessment
The central Media Group firstly assesses their client’s interests, values and personality to develop an understanding of their skills. They also consider factors that may affect their clients, such as geographical preferences, organizational culture, or work-life balance. this gives the clients a place to begin their research.
Step 2: Research The central Media Group has different departments and sites for research. Here, they explore a range of options for their clients. They learn as much as they can about the clients by looking at the different fields of interest and trends in that industry. They search for their target and their likes and dislikes.
Step 3: Evaluation They reflect and undergo a reality check of each of the clients' audience, weigh the pros and cons, and evaluate how it matches up with the clients and what they want. Step 4: Take action
They try out the options and gain experience through their research. They measure if the content they are serving is working by closely monitoring how the audience receives it.
Step 5: Reflect and re-evaluate
They check if the audience or clients enjoyed their content, if it was challenging, what benefits or rather aspects they excelled in, and lastly, if it worked hand in hand with the people and establishment as a whole. 2.2 •Demographic Segmentation They divide people based on their age and income. For example, they have 2 types of audiences, One, is a listener with 2 kids and a job and also makes all financial decisions.
•Behavioral Segmentation They divide people based on their buying habits and brand loyalty. For example, they have a target classified as the SCM 7-10. Which is a client that is most probably a business and has certain buying habits. QUESTION 3
3.1• The PR team must try to be as transparent as they can in addressing the scandal. they must ensure that they openly acknowledge all issues raised, provide clear and honest communication about the situation at hand, and be forthcoming about any necessary actions and changes. • The PR team also needs to focus on managing the organization’s reputation. They may include coming up with a strategic plan to rebuild trust with the consumer, look up the damage to the brand and they must also show commitment to rectifying the situation through actions that align with their organizational values goals and mission.
3.2.• Corporate advertising.
Boohoo may use social media as an effective strategy to keep the public perception of the company positive. They may influence public opinion by actively interacting with their audience and responding to their complaints.
•Media Relations. To keep Boohoo' s reputation positive or rather favorable media relations is very important. Boohoo can make sure that accurate and positive information about it is spread by efficiently interacting with media outlets and journalists. This will assist with eliminating any bad press and draw attention to the company’s constructive action. • Crisis Management.
Effective crisis management and communication are crucial especially in light of the current controversies surrounding Boohoo. Their PR must have a well thought out crisis communication plan in place in order to open handedly handle any negative views, this will lessen harm to the reputation of the company and show the commitment to handling the issue responsibly. Question 4 4.1 4.1.1” Character” (Van Noordwyk, A. and Van Tonder, E. 2019. Business Functions. 3rd Addition. Cape Town. South Africa. Juta and company (Pty)Ltd) 4.1.2” Capacity” (Van Noordwyk, A. and Van Tonder, E. 2019. Business Functions. 3rd Addition. Cape Town. South Africa. Juta and company (Pty)Ltd) 4.1.3” Collateral” (Van Noordwyk, A. and Van Tonder, E. 2019. Business Functions. 3rd Addition. Cape Town. South Africa. Juta and company (Pty)Ltd) 4.1.4” Credit history” (Van Noordwyk, A. and Van Tonder, E. 2019. Business Functions. 3rd Addition. Cape Town. South Africa. Juta and company (Pty)Ltd) 4.2 4.2.1 According to www.capitec.ac.za, John must take a loan from Capitec bank since he wants to purchase new equipment for his small business, this will be a be a medium-term loan so if he will take R25 000, he will have to pay in 12 months with an interest rate of 13.75% – 29.25%. The monthly repayment is R2 382 - R2603 then the total repayment will be R28 652 – R31 311. 4.2.2 According to www.capitec.co.za, it will be best to first look at the life expectancy of the new equipment, like focusing on the depreciation and the maintenance of the new equipment more like how long this equipment is going to last. Capitec bank will be offering 12 months for the loan to be returned, so we must focus on that too and the interest rate and the monthly repayments.
Question 5
I would hire the third potential candidate for the position, Patrick Morgan. I would hire Mr Morgan because of the experience he has in financial management as he has worked as a Finance Manager at Ago Financial Group (09/2013-05/2015) and in M&K Financial Group (09/2015-02/2023). Therefore, considering his number of years and experience in Finance Manager position I would hire him. Another reason I would employ Mr Morgan is that he is a certified Accountant and holds a degree in Bachelor of Science with specialization in Finance. Therefore, his education and certificate makes him to be an outstanding and suitable candidate for the position. Question 6
6.1 Orientation Program for Direct Sales Inc.
Activity 1: Introduction and overview of the business
-Introduce the new employees to their immediate colleagues and work environment. -Tour of the premises -Rules and regulations. Activity 2: Employment contract -Discussion of employment contract and conditions of services. Activity 3: Duties and responsibilities -Discussion of duties and responsibilities of Sales representatives in the company.
Reasons for the inclusion of the three activities:
-The activities are included in the orientation programme to ensure that the new employees feel welcomed to the team and at ease in the workplace. These activities will ensure that the new employees understand the rules and regulations concerning how the business is operated and they are familiar with the organisational structure of the business. The new employees will know what the business expect from them and what they should expect from the business. Question 7
At Bon Hotel the need of products is identified by the different heads of departments. They often do stock count to keep track of the products that needs to be replaced or re ordered. For example, in the hospitality function the head chefs compiles a list of what they need to order as they do day to day orders, this also depends on the menu that is required by their customers. They have a variety of suppliers to choose from in case fails to deliver or does not have the products that they need. They also build long term relationships with their suppliers as this creates a smooth environment between them and their suppliers. Therefore it makes it easier as their suppliers know exactly what they want in terms of quality and quantity. The hotel does not compromise its standards for profits. They ensure that they buy quality products at the right prices, although their long term relationships and commitments with their suppliers offers them discounts and deals on some of the products. They also do price comparisons between their suppliers to choose the one with the most reasonable price and good quality.
They write down what they need from their suppliers and pass the order through to the managing director for double checking and authorization before it can be sent to the suppliers. They also place orders prior to ensure that they arrive in time. Each department does their own internal quality control before a quality control assessment is taken of which is conducted by external inspectors. They also do stocktaking to ensure of products throughout the entire hotel. QUESTION 8
Meeting agenda Date: 06 May 2024 Time: 08:30 1.Opening Minutes of the last meeting. Topics to be discussed; Product launch Introduction of each HOD . 2.Head of department of operational management I’ll be talking about produced samples that will be used as testers. The production of packaging that will be used for our product. Transportation of the products
3. Head of department of public relations
Media coverage. Media engagement and announcements. Social media leverage
4. Head of department of marketing
Promotional sales Handouts Sample testing by potential clients
5. Head of department of human resources
Staffing and resource planning. Hiring temporary staff for the launch day. Communication and alignment to employees.
6. Announcements Date of the launch Venue of the launch
Attendees: -Mr. Mokoena ‘Host’ (CEO) - Mr. Ngxaliwe, Human Resource Department - Mr. Matshabela, Marketing HOD - Ms. Matsoeneng, HOD of Operational Management - Ms. Motaung, HOD of Public Relations
*Summary of Discussions and Decisions:
- The team discussed the launch of Aromatic Aura and Divine Dew perfumes. - Mr. Matshabela presented the marketing plan for the launch. - The team decided to proceed with the marketing plan as presented. - Tasks and responsibilities were assigned to each team member. - Deadlines for tasks and actions were established.
*Next Steps:
- The team will meet again on the15th July 2024 to review progress and discuss any issues that have arisen.
*Adjournment *The meeting was adjourned at 09:10
Kelechi Udoagwu 2020. Publication in Media. Nigeria. Write
Simon Dean 2018. All things media. London.
Pandora team, BBE News. 2024 “Bohoo put”made in UK” labels on clothes made overseas. Available at: https://bbc.com/news/uk- 67929755
Central Media.mp4
Herholdt’s Group: “HERHOLDT’S GROUP: Bringing the Best Brands to SA’s Renewable Energy...” https://pestleanalysis.com/environmental-factors-affecting-business/ .....is this it?
