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How to deal with falling sales and revenues

by | Nov 30, 2023 | questions

How to deal with falling sales and revenues

Comet, the electrical goods retailer, entered administration. The problems that the company had faced were numerous:

– They suffered from falling sales and revenues;
– They did not have the best positions for their retail outlets;
– They found themselves unable to compete on price, quality, service assurance or convenience with either large supermarkets, or other retail outlets, including web based provisions.

Over the weekend of the 3-5 November, Comet announced that there would be an ‘everything must go’ sale; and this would lead to one last opportunity to raise at least some cash to pay off creditors and to reduce the losses as far as possible. After this, there is a great uncertainty over the future of the company’s 240 stores premises or the jobs of the 6,000 people who work for them. The company is doing its best to find administrators to take the business forwards and to salvage what it can; and so they turn to you for advice and information and analyses.

Questions

1. Do a SWOT analysis for Comet; and state at the end which are the most critical strengths, weaknesses, opportunities and threats and why.
2. Do a five forces analysis, and state in your view which the most critical of these forces is/are, and why.
3. Evaluate the strategy of the company to date, and propose a clear strategy to take the company forwards, saying why you have arrived at your conclusions.
4. Identify and explain any other factors that the company needs to take into account, including all stakeholders, again with explanations and justification.

You need to present your full answers to each of these questions as a report. Additionally, your report MUST have as a frontispiece, a summary of no more than 200 words summarising:

– The main issues and things that have gone wrong;
– The main strengths and weaknesses
– What you are going to do and why.

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