This website uses cookies to ensure you have the best experience. Learn more

Strategic Evaluation And Recommendations University Of Phoenix/Str581 Assignment

1902 words - 8 pages

Big Lots Part 3: Strategic Evaluation and Recommendation
Barbara "BeBe" Smith
STR/581 Strategic Planning and Implementation
April 23, 2019
Dr. Patrick Oldenburgh Jr., Sphr
Running head: BIG LOTS PART 3: STRATEGIC EVALUATION AND
1
BIG LOTS PART 3: STRATEGIC EVALUATION AND
3
Big Lots Part 3: Strategic Evaluation and Recommendation
Strategic planning entails many intricate facets. One of these complicated facets includes the business level strategy. There are various types of business level strategies. Therefore, it is extremely important to have a comprehensive knowledge of these business level strategies. While there are several levels, Big Lots has integrated both the cost leadership and differentiation strategy. When an organization implement the cost leadership strategy, it is pursuing an avenue to surpass their competitors as with a differential.
Business Level Strategies of Big Lots
Big Lots applies two types of business level strategies, both cost and differential. While providing low-cost to its customers along with differentiating itself from other competitors in the discount retailer industry.
Big Lots Cost Leadership Business Level Strategy
Big Lots assimilate cost leadership to entice the consumers to enter their stores to purchase their quality name brand product(s) at a more attractable discounted price than its competitors in the industry. Big Lots vision, would like to be known as “The World’s Best Bargain Place.” (Hitt, Ireland, & Hiskisson, 2007). Big Lots also operates subsidiaries under its umbrella: Big Lots Furniture, Wisconsin Toy, Big Lots Capital, Big Lots Wholesale, and Consolidated International (Hitt, Ireland, & Hiskisson, 2007). These subsidiaries assist Big Lots to keep prices lower than the competitors in the discount retailer’s realm. Furthermore, Big Lots buyers navigate throughout the United States to unearth and obtain manfactures closeouts items along with their over productions at the same time selling its customers the best discounted price possible (Hitt, Ireland, & Hiskisson, 2007).
Big Lots has positioned itself as a low-cost discount retailer with name brand quality items to offer the consumers. Cost leadership level strategy for Big Lots is a defense mechanism against both old and new rivals within the discount retailer realm. While Big Lots concentrate on low-cost leadership, competitors may vacillate to compete with lower prices. Furthermore, Big Lots low-cost level strategy makes it difficult for their competitor to compete on its level.
Purchasing a variety name brand items at a tremendous price allows Big Lots to amass strong customers and suppliers bargaining power. While possessing bargaining power of both customers and suppliers, Big Lots must constantly monitor the low-cost level strategy to ensure its efficiency while improving wherever is necessary.
Big Lots Differential Business Level Strategy
The Big Lots organization also assimilates the differential level strategy via offering...

Other Essays On Strategic Evaluation and Recommendations - University of Phoenix/STR581 - Assignment

Construction Productivity and its improvement - University of Florida/ BCN5470 - Assignment

560 words - 3 pages BCN5470- Construction Methods Improvement Assignment Module-1 Q.1- 1. • 2007-2008 Wage- $16/hr Number of bricks placed/day- 240 Cost per brick = $0.54 • 2008-2009 Wage- $16.96/hr Number of bricks placed/day- 242.4 = 242 bricks Cost per brick = $0.56 • 2009-2010 Wage- $17.97/hr Number of bricks placed/day- 244.8 = 245 bricks Cost per brick = $0.59 • 2010-2011 Wage- $19.05/hr Number of bricks placed/day- 247.24 = 247

Advantages and Disadvantages of Networking - South University - Assignment

2848 words - 12 pages Albert Simmons WEEK 1 DISCUSSION Advantages and Disadvantages of Networks In this assignment, you will distinguish between the advantages and disadvantages of using computing networks. You will also get familiarized with the terms associated with networks. Provide a detailed description of situations in which the use of networks benefited you as well as situations where the use of networks was a disadvantage. Share at least one situation for

Process of doing domestic business globally - University of Phoenix - Essay on doing business globally

471 words - 2 pages resource management include expatriate assignment management, expatriate training, and management of cross cultural work teams, cross cultural training etc. Activities like compensation management and performance management have to be done with precision to ensure that there is equality and coordination in employees worldwide. Lack of training is one of the principal causes of failure among employees working internationally. Those working need to

Huawei phone and telecommunications analysis - University - Assignment

1186 words - 5 pages brand portfolio in China Days inventory higher compared to competitors Dominant market share in both telecommunications and smartphones Huawei is highly affected by high employee turnover which puts business continuity at risk Highly skilled workforce through successful training and learning programs Lack of brand recognition in the United States Successful track record of integrating complimentary firms through mergers & acquisition Phones are

Liberty Recycling Strategic Analysis - University of South Australia, MBA - Essay

2114 words - 9 pages Assignment 2 EXECUTIVE SUMMARY Liberty Recycling is at a very interesting point in its lifecycle as a business, a prolonged period of growth and expansion was followed by a period of consolidation which saw the business divest a number of international businesses and close some Australian yards whilst under the Arrium umbrella. The subsequent act of Arrium Limited going into Voluntary Administration served as something of a turning point for

Final assignment - argument standardisation and critique - PHL137 Macquarie university - assignment

1947 words - 8 pages PHL 137: Assignment 2 - Report Broad Standardisation of Argument 1.1 The UNFCCC proposes that in order to reduce climate change, developed countries will provide financial aid to developing country parties to help them meet their targets as outlined by the convention 1.2.1 Undeveloped nations are asking for lots of money from developed nations to meet their targets 1.2 The main financial entity of the convention, the Green Climate Fund (GCF) is

group assignment for semester 2, 2018 - university of adelaide - assignment

730 words - 3 pages Assignment Advance Funds Management (M) Semester 2, 2018 Assignment Brief: Your 3-member Mutual Funds Analysis team has recently been hired to (i) Create an Australian Equity Active fund, (ii) Analyse a US bond fund, (iii) Create an Australian/US multi-asset (Equities and Bonds only)class fund. Requirements: 1. Create and Active Australian Equity fund Each team will create an active Australian equity fund. This portfolio will have a tracking

the role of icons in religious structures or in personal homes - Tiffin University and Culture220 - Assignment

574 words - 3 pages 1 Zaireea Norman 10/8/17 Assignment # 5 Culture 220 In this essay I will be examining the role of icons in religious structures or in personal homes. Usually when you walk into a Christians home most of them would have something hanging up on various walls and platforms in their house. This something would be the Jesus hanging on a cross plaque. Christians do this to either bless or protect their home. Sometimes they just hang these plaques up

final exam assignment information technology - University of potomac - Assignment

1651 words - 7 pages Final Exam 8.1 1 Assignment 4.1. 3 Week 8- Assignment 8.1 Dishank patel University of the Potomac – Virginia Campus CBSC235 Foundation Of Cyber Security. Professor P Jaikaran 06/24/2018 Abstract As of late system security has turned into

How does Color Affect Design and People - University of Bridgeport Color Theory - Essay, Assignment

1062 words - 5 pages . Psychology greatly influences each room, and no client is exactly like the next. The result is a complex set of parameters to meet in each design. Each designer uses materials and color in any room they create to achieve these requirements. By use of a diverse set of strategic patterns, colors, and fabrics clients are able to receive the emotion they seek out of a space. Rooms such as offices are more suited to the use of neutral colors which convey

language changes and various world englishes - University of KwaZulu natal - assignment

1221 words - 5 pages ASSIGNMENT:2 1(a) Migration Migration can evolve a language in several ways. Due to the movement of people from one region (e.g. country) to another, they are then exposed to different geographic settings, speakers will create new languages such as pidgins and creoles, therefore, a new form of English language (e.g. American English, Australian English) was developed from the existing one (standard English), and it led to people of

Similar Papers

Strategic Plan: Implementation, Strategic Control, And Contingency Plan University Of Phoenix/Str581 Assignment

2198 words - 9 pages , tactics (functional), actions, milestones deadlines, tasks along with ownership, allocation of resources, and make recommendations. Furthermore, Big Lots must also establish five other elements to complete: 1) success factors, 2) budget, 3) financials forecast, 4) break-even analysis, 5) and risk management that must include a contingency plan for identifying risks. Although, the company’s strategic plan appears daunting, Big Lots use three

Strategic Management And Techonologgy Week 1 San Ignacio University Assignment

567 words - 3 pages 1 Running Head: HOMEWORK 1, CHAPTER 1 & 2 4 CHAPTER 1&2 San Ignacio University Strategic Management and Technology Prof. Dr. Lemus JENNIFER TELLES Discussion Questions Page 10 1. Why is innovation so important for firms to compete in many industries? The increasing importance of innovation has been driven largely the globalization of markets and the advent pf advanced technologies that enable more rapid product design and allow shorter

Module 5 Ra 2: Psychological Evaluation And Risk Assessment Argosy University/ Forensic Psychology Assignment

2510 words - 11 pages Running head: FORENSIC PSYCHOLOGY ASSESSMENT 2 FORENSIC PSYCHOLOGY ASSESSMENT 2 Module 5 RA 2: Psychological Evaluation and Risk Assessment Argosy University June 25, 2018 The parole board works with the criminal justice system by obtaining a psychological assessment on the prisoner, who is up for parole, to determine if the individual can be released back into the community and not pose a risk of recidivism. Also, the parole board enlists the

Physical Development In Middle Adulthood University Of Phoenix Essay

1065 words - 5 pages University of Phoenix Physical Development in Middle Adulthood Learning Team D BSHS/325 5/24/2015 We as growing humans have a very interesting life span. We go from infancy, childhood, adolescence, young adulthood, middle adulthood, and late adulthood. With each span of development in our lives also comes with challenges. While they may seem like simple challenges looking back on them or even from a perspective of a textbook, they all have an