Trader Joe’s Survival and Growth
Trader Joe’s Survival and Growth
To be able to survive in the competitive market every business is required to have the require competent employee with the required skills for the job. To understand the required skill and competence one should first define the mission of the business. In our case, we are striving to provide quality service through committed, warm, friendly and dedicated employees who are loyal to the company products. The mission of the company is to create relationship between the employees and the consumers of its products
For Trader Joe to survive in future it must develop skills and competence, whichwill be able to create a good image for their skill. The three skills required include the conceptual, interpersonal and technical skills. The conceptual skill will help the management to think critically on the strategies that the business will use to be completive. In this case, we need to know what product to develop, the promotion and marketing strategies and the type of technology in doing the business. The business also requires the technical skills. As the word state this people are able to do the technical work including machine operation and design. To market our product we need to design our brand in a way it is attractive to our customers for example this people are needed in designing of a website. In the Trader Joe mission statement, their main objective is to create a good relationship with the consumers. The business therefore requires human or interpersonal skills. This is the ability to relate with other people including the employees and the customers.
Interpersonal skills being the major skills we therefore have employees who are competent and capable of creating business relation. The business should therefore strive to have the people who are able to influence and convince the consumers that the Trader Joe products are the best. This will be achieved through having a good teamwork between all levels of management where there is a good flow of information hence good communication skills are vital. There is also the need for the members of the company to have the sufficient knowledge on the product and the consumer’s culture. This will help every person to be motivated and to have the pledge loyalty on the company product.
Though TJ is still striving for future success there are still some challenges affect its growth strategy. There is challenge of exporting it product to much dispersed geographical locations. To bridge this gap the company requires creating segment in those locations identifying the need of the consumer in those areas hence establishing the branches there, which will reduce the cost of export.
The business still faces stiff competition. At this moment, TJ has the plan of expanding internationally but with this competition, the company may be forced to think otherwise. With the many company emerging in the same the company need to think of how it will be able to remain relevant in the market. Since the company has no intention to go internationally to increase its market share therefore there is a need for the company to differentiate it product. From the analysis, some of the competitors include Tesco a multibillion grocery and general merchandise company. The company has also announced to open a shop to over the same service as those of TJ, which may reduce the market share. In this scenario, the company has no other option than differentiating it products and services hence remaining unique.
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