The document outlines possible causes of bankruptcy for convenience stores and proposed strategic plans to address each cause. The causes included poor decision-making resulting in mismanagement, overpriced products, nearby competing convenience stores, a poor store location, poor customer service, huge debt, and robbery. The proposed strategic plans suggest training for managers, finding cheaper suppliers, offering loyal customer discounts, investing in marketing, improving customer service, prioritizing debt repayment, and tightening security.
The document outlines possible causes of bankruptcy for convenience stores and proposed strategic plans to address each cause. The causes included poor decision-making resulting in mismanagement, overpriced products, nearby competing convenience stores, a poor store location, poor customer service, huge debt, and robbery. The proposed strategic plans suggest training for managers, finding cheaper suppliers, offering loyal customer discounts, investing in marketing, improving customer service, prioritizing debt repayment, and tightening security.
The document outlines possible causes of bankruptcy for convenience stores and proposed strategic plans to address each cause. The causes included poor decision-making resulting in mismanagement, overpriced products, nearby competing convenience stores, a poor store location, poor customer service, huge debt, and robbery. The proposed strategic plans suggest training for managers, finding cheaper suppliers, offering loyal customer discounts, investing in marketing, improving customer service, prioritizing debt repayment, and tightening security.
The document outlines possible causes of bankruptcy for convenience stores and proposed strategic plans to address each cause. The causes included poor decision-making resulting in mismanagement, overpriced products, nearby competing convenience stores, a poor store location, poor customer service, huge debt, and robbery. The proposed strategic plans suggest training for managers, finding cheaper suppliers, offering loyal customer discounts, investing in marketing, improving customer service, prioritizing debt repayment, and tightening security.
Conduct a workshop, seminars, and training and development programs for managers and staff. Possible Cause of Bankruptcy: Overpriced/ Expensive products Proposed Strategic Plan Find a cheaper supplier of products to lower the prices of the products to make it more accessible to a wide number of customers or have monthly sales and bundle promos. Possible Cause of Bankruptcy: Convenience stores are located closer to one another Proposed Strategic Plan Should provide a discount card for every loyal customer. Possible Cause of Bankruptcy: Poor Store Location Proposed Strategic Plan Regardless of the store's poor location, make the most of what you have by investing in the store's marketing efforts to promote its products and services. Possible Cause of Bankruptcy: Poor Customer Service
Proposed Strategic Plan
Should provide proper customer service in a convenience store. Possible Cause of Bankruptcy: Huge Debt Proposed Strategic Plan Repayments of Debts and Eliminating Unnecessary Expense must be prioritized in order to avoid having Huge debts for the store and to still run in the business. Possible Cause of Bankruptcy: Robbery Proposed Strategic Plan Choosing a location and tightening the security is the highly option to prevent possible crimes.