A Study About TK Maxxs Commerce Essay

A Study About TK Maxxs Commerce Essay The first T.K. Maxx opened in Bristol in 1994.[2] T.K. Maxxs United States parent company, T.J. Maxx, adopted the name T.K. Maxx to avoid confusion with the existing but separate discount chain T J Hughes[citation needed]. TK Maxx is part of TJX Europe headed by Paul Sweetenham as SEVP Group President. TJX Europe is split into four divisions: TK Maxx UK Ireland headed by Susanne Given, TK Maxx Germany headed by Gino Barrera, and HomeSense UK headed by Dave Alves. The fourth division is Shared Services which as the title suggests consists of shared services between the three trading divisions such as distribution, logistics, buying and finance. Each trading division has their own Human Resource, Marketing Loss Prevention departments to meet the individual needs of each division. In 2007, TK Maxx began a slowing down of new store openings within the UK. Focus was given to revamping older inner city stores or relocating them. Some of the chains first stores such as Bristol and Reading have been expanded and extensively refurbished while others such as Southampton, Cardiff and Hull have been relocated to bigger sites. As part of the businesses slow down of new stores, TK Maxx confirmed that they were only interested in opening stores averaging 30,000 sq ft. This decision saw the creation of the Maxx Maxx concept, a new department store format that saw TK Maxx get away from its pack it high, sell it cheap reputation into a large store format that sees a much larger product offer. Examples of Maxx Maxx store are Leeds The Headrow, Cardiff, Birmingham Bull Ring, Hammersmith, Manchester Market Street, Dundee Cork. We make daily deliveries to our stores and its essential that our fleet of trucks is as efficient and environmentally responsible as possible. Were working hard on innovative solutions to make our delivery process as green as it can be and here are just some of the ways were doing this already. For the first time ever, we have joined forces with Sainsburys to sell the exclusive Sport Relief T-shirt designed by the whole Beckham family and yes, that includes Brooklyn, Romeo and Cruz. So far, over our 5 year partnership weve raised  £6.3 million for Comic Relief through Red Nose Day. Supporting Sport Relief through selling the T-shirt gives us both another opportunity to contribute financially to this fantastic cause and to grow an even stronger partnership. Half of the money from each T-shirt goes towards helping some of the most vulnerable people in the world so please visit us instore or online to buy your very own fantastic Sport Relief T-shirt. Welfare to work is a scheme designed to get people who have been out of work for a long time back into the workforce. Weve had an initial Education to Employment trial with Action for Children and we are now in the early stages of rolling out a specific programme to further develop this. Weve also extended our five year relationship with Remploy and continue to remain committed to making our own workplace more accessible for people with disabilities. P4 The fundamental economic problem in any society is to provide a set of rules for allocating resources and/or consumption among individuals who cant satisfy their wants, given limited resources. The rules that each economic system provides function within a framework of formal institutions (e.g., laws) and informal institutions (e.g., customs). What and how much will be produced? Literally, billions of different outputs could be produced with societys scarce resources. Some mechanism must exist that differentiates between products to be produced and others that remain as either unexploited inventions or as individuals unfulfilled desires. How will it be produced? There are many ways to produce a desired item. It may be possible to use more labor and less capital, or vice versa. For whom will it be produced? Once a commodity is produced, some mechanism must exist that distributes finished products to the ultimate consumers of the product. The mechanism of distribution for these commodities differs by economic system. P5 Until ten years ago the term Welfare Work was a phrase without meaning in the industrial world. Today it stands for a definite policy on the part of employers which may bring about the solution of many of the vexed problems of labor and capital. The leaven of this policy already has begun to work. A branch of welfare work through which the company has had a great influence on the people and the surroundings of the neighborhood is that of landscape gardening. At the time when welfare work was started the surroundings of the factory were like those of most industrial plants—anything but attractive. After the company has made its own property beautiful with lawns, shrubbery and vines, it taught the people of the neighborhood, by lectures and demonstrations, the principles of landscape gardening. As a result of this campaign of education the factory neighborhood has been change from a region of tumble-down houses, ash heaps and tin cans to a neighborhood of beautiful homes and well kept yards. P6 The impact of Macro-economic (Monetary and Fisca)l Policy on the economy There are some differences in the economic effects of monetary and fiscal policy, on the composition of output, the effectiveness of the two kinds of policy in meeting the governments macroeconomic objectives, and also the time lags involved for fiscal and monetary policy changes to take effect. We will consider each of these in turn: Effects of Policy on the Composition of National Output Monetary policy is often seen as something of a blunt policy instrument affecting all sectors of the economy although in different ways and with a variable impact. In contrast, fiscal policy can be targeted to affect certain groups (e.g. increases in means-tested benefits for low income households, reductions in the rate of corporation tax for small-medium sized enterprises, investment allowances for businesses in certain regions) Consider as an example the effects of using either monetary or fiscal policy to achieve a given increase in national income because actual GDP lies below potential GDP (i.e. there is a negative output gap) Monetary policy expansion: Lower interest rates will lead to an increase in consumer and business capital spending both of which increases national income. Since investment spending results in a larger capital stock, then incomes in the future will also be higher through the impact on LRAS. Fiscal policy expansion: An expansion in fiscal policy (i.e. an increase in government spending) adds directly to AD but if financed by higher government borrowing, this may result in higher interest rates and lower investment. The net result (by adjusting the increase in G) is the same increase in current income. However, since investment spending is lower, the capital stock is lower than it would have been, so that future incomes are lower. In UK lots of multinational organization are operating, Many people from different part of the world also visited in UK for different purposes, if the global economy fall the business of UK based company also fall down. As a result they faces difficulties to earn profit and ultimately the shareholders suffer. P7 Perfect Competition: A market is said to be perfectly competitive when firms perceive that they individually have no noticeable influence on market price. The outcome in such an industry is efficient in the sense that the cost of the last unit of output (marginal cost) would just equal what consumers would be willing to pay for that unit. Perfect competition is a regarded as a benchmark market structure for evaluating other market structures. Market Structure and Competition: The market structures tells us about the environment within which an enterprise functions and the nature of external pressure on the enterprise. The elements of market structure that we look at are concentration ratio, stability of market shares, conditions of entry and exit of firms. FDI Policy Stability of Markets Shares A limitation of the above summary measures of concentration is that they ignore the dynamic changes in the market shares of individual firms. Market shares of dominant firms may increase or decline over time. Greater churning of market shares in given market suggests greater intensity of competition. P8 Market forces and organizational Response: Organizations always responses positively toward market forces. P9 Company Summary: This section presents the key facts figures, business description, and products services offered by the company. Major Competitors: This section first selects the competitors based on assets, sales, focus of business, or geographic reach. Then all the competitors are profiled. Key Business Strategies of Each Competitor: It talks about the current and future strategies of each company. All business, marketing, financial and organizational strategies are discussed here. Comparative SWOT Analysis: Our comparative SWOT analysis is a valuable step in assessing your companys and you competitors strengths, weaknesses, opportunities, and threats. It offers powerful insight into the critical issues affecting a business. Comparative Financial Analysis: This section compares the recent financials of the company and its competitors. The financial performance of each segment of all the companies is also discussed here. The objective is to evaluate the financial health of the company vis-à  -vis its competitors. The stock price comparison helps us in evaluating the performance of the company position versus its competitors from an investors viewpoint. There is an important role for tobacco control advocates in the policy development process in regulatory agencies. P10 The buying and selling of goods and services across national borders is known as international trade. International trade is the backbone of our modern, commercial world, as producers in various nations try to profit from an expanded market, rather than be limited to selling within their own borders. There are many reasons that trade across national borders occurs, including lower production costs in one region versus another, specialized industries, lack or surplus of natural resources and consumer tastes. One of the most controversial components of international trade today is the lower production costs of â€Å"developing† nations. Both the United States and the European Union have imposed severe restrictions on imports from Asian nations to try to stem this tide. Clearly, a company that can pay its workers the equivalent of dollars a day, as compared to dollars an hour, has a distinct selling advantage. P11 Consultation with UK SME representative bodies on domestic and European matters consistently shows that the main issue for their members is regulation. The 2007 EU Observatory Survey found that 36% of SMEs within Europe reported that regulations acted as a constraint or had presented difficulties in the previous two years. Whilst progress has been at the EU level, for example on the promotion of the â€Å"Think Small First† principle and the European Commissions commitment to reduce administrative burdens by 25%, we believe a much more ambitious set of measures should be introduced Another important issue is access to finance, where we believe action should be focused on improving the demand side, in particular investment readiness, and the supply of modest amounts of finance for entrepreneurs who, for various reasons, are deemed to be a higher risk. In order to grow, SME must also have access to new markets. Generally, exporting firms have been found to benefit from greater productivity growth than non-exporters. P12 The UK has to make a decision on membership of EMU in the next two years. The monetary and fiscal regimes in the Euro Area and in the UK do not differ greatly. However, we argue that membership of EMU will increase the stability of the economy and the credibility of the policy framework, and hence will enhance the prospects for growth and higher incomes and employment.