Big Lots is an organization that has been in many communities since 1967. Their founder Sol Shenk began the organization with the idea of offering closeout deals particular on vehicle parts. Today Big Lots is largest broad-line closeout retailer in the US that has a net worth of $4 billion. It is the companies defining competencies, sub-plans and business relationships that has allowed the company to expand and find success in this global economy. It is these features that have allowed the business to thrive through declining markets and recession and will allow them to see continuous growth in the future.
A company’s core competencies can be defined as a synchronized combination of various resources and talents that distinguish a firm in …show more content…
It is the customers purchasing habits that determine if a product is needed or if it is no longer desired. With such an important role, it is imperative for companies to listen to their customers. For Big Lots the customer’s voice is integrated into the company’s marketing, price determinations, and items selections. (Kosur, 2015). If several companies are offering the similar products at around the same price, it is Big Lots strategy to offer alternatives at a cost reduction. It is the sub-plans of the corporate strategy that aid in making the company’s corporate strategy a success. Departments such as their finance and marketing teams help in generating capital and advertising. Members of their supply chain operations are important because they bring the goods from distributors to local retails stores. Of all the sub-plans the most important aspect is that of their human resource department. Human Resources locates and works with the staff to make certain that all positions are filled appropriately to meet the business needs of the …show more content…
To make their strategy work they require numerous vendors and a team that is able to see and understand the trends in the marketplace. It is their sub-plans such as their marketing and human resource teams that hold the responsibility of identifying and obtaining the proper personnel and deals to meet the businesses strategy. The role of technology and supply chain management are also important for balancing out the supply and demands of the customers ever changing needs. Each part is required to work in concert to make the organization a success. Big Lots has found ways to balance the operation to become who they are today and to find their success for
A company’s core competencies can be defined as a synchronized combination of various resources and talents that distinguish a firm in …show more content…
It is the customers purchasing habits that determine if a product is needed or if it is no longer desired. With such an important role, it is imperative for companies to listen to their customers. For Big Lots the customer’s voice is integrated into the company’s marketing, price determinations, and items selections. (Kosur, 2015). If several companies are offering the similar products at around the same price, it is Big Lots strategy to offer alternatives at a cost reduction. It is the sub-plans of the corporate strategy that aid in making the company’s corporate strategy a success. Departments such as their finance and marketing teams help in generating capital and advertising. Members of their supply chain operations are important because they bring the goods from distributors to local retails stores. Of all the sub-plans the most important aspect is that of their human resource department. Human Resources locates and works with the staff to make certain that all positions are filled appropriately to meet the business needs of the …show more content…
To make their strategy work they require numerous vendors and a team that is able to see and understand the trends in the marketplace. It is their sub-plans such as their marketing and human resource teams that hold the responsibility of identifying and obtaining the proper personnel and deals to meet the businesses strategy. The role of technology and supply chain management are also important for balancing out the supply and demands of the customers ever changing needs. Each part is required to work in concert to make the organization a success. Big Lots has found ways to balance the operation to become who they are today and to find their success for