Life Insurance/401k Retirement Savings Plan. Dollar General also offers paid time off
for vacation, holidays, and sick time. Dollar General feels they offer competitive pay and
benefits to their employees.
The reality is Dollar General’s benefits are not affordable or adequate for their employees.
According to a study by the National Employment Law Project (NELP) Dollar General’s
RUNNING HEAD: Dollar General Store Page 10 of 19
benefits are unaffordable and inadequate. Dollar General’s health insurance plans have high
deductibles and out of pocket maximums that are unaffordable for low wage workers. Dollar
General’s lowest cost health plan has a $6,000 deductible
- Hallmark was founded in 1910 by J.C. Hall as a picture postcard company and has since expanded into greeting cards, gifts, and publishing.
- It is now a multibillion dollar company with over 40,000 retail stores worldwide and 31,800 employees producing over 10,000 new greeting card designs annually.
- Hallmark believes that high quality, creative products and services can improve people's lives and that innovation is critical to its continued success.
Governance mechanisms that work in a family businessBrowne & Mohan
Adoption of good corporate governance practices and professionalization help business continuity of family business. This paper presents both formal and informal mechanisms that Indian family businesses of various sizes deploy to improve corporate governance. Formal mechanisms include family assembly, family office, board of directors for each business and independent directors. Informal mechanisms include shareholders assembly, and family outings etc..
The triple bottom line measuring your organizations wider impactariysn
The document discusses the triple bottom line approach to business, which measures a company's impact on people, planet, and profits. It describes the three Ps of the triple bottom line: People, which considers how a business impacts all stakeholders; Planet, which focuses on reducing the ecological footprint; and Profit, which aims for profits to benefit the community as a whole. The triple bottom line can be used as a reporting system to drive improvements in how a business treats people and the environment. While it adds costs to monitor, it can justify the costs by creating greater positive impact.
Common traits of successful family business: why some thrive, while other fal...Browne & Mohan
How families build structures and process for managing the business and the family matters in the continuation of their family business. In this paper, Browne & Mohan consultants share common traits that associated with families that have survived multiple generations.
The staffing function learning objectivesafter completiariysn
The document discusses the staffing function and strategic human resource management. It provides an overview of Zappos.com's highly effective staffing model which emphasizes employee and customer satisfaction. Zappos.com carefully selects employees who demonstrate positive, customer-oriented attitudes and provides extensive training. This contributes to Zappos.com capturing 20% of the overall shoe market and 75% of their business coming from repeat customers. The document also outlines several key laws that form the legal environment for staffing, including those prohibiting discrimination and requiring reasonable accommodations.
This document discusses the effects of offshore outsourcing on corporations. It notes that U.S. employment laws may not apply to overseas associates, and that discrimination claims are less common and cheaper in some countries. Cultural traditions in other nations can also mean weaker employment laws. The document addresses how companies should consider employment issues like benefits and working conditions when outsourcing abroad to prevent unfair treatment. It also lists reasons why companies outsource, such as lower wages, contractual certainty, and expedited production. Maintaining good communication between clients and providers is important for addressing concerns.
Ibiamke & abanyam (2014) do reputable companies have superior earnings qu...Nicholas Adzor
The document compares the earnings quality of reputable companies to non-reputable companies in Nigeria. It measures corporate reputation using Forbes' 2012 ranking of top West African companies and estimates earnings quality using the modified Jones model. The results of a paired sample t-test did not provide evidence that Nigerian companies with higher reputations had significantly superior earnings quality compared to similar but non-reputable companies. This implies that more in-depth analysis of earnings quality using other measures should be done in addition to corporate reputation before making investment decisions.
The document discusses the risks faced by Potluck Café and Catering, a social enterprise located in Vancouver's Downtown Eastside that provides catering services and employment opportunities for local residents. It identifies five main risks: market risk, construction risk, management and staff risk, reputation risk, and liquidity risk. For each risk, it provides examples of how that risk impacts Potluck Café and suggests strategies for mitigating the risks, such as improving training, expanding to new premises, strengthening management, clarifying hiring practices, and maintaining financial stability. The case study examines how social enterprises must acknowledge and address risks to sustain their social missions over time.
- Hallmark was founded in 1910 by J.C. Hall as a picture postcard company and has since expanded into greeting cards, gifts, and publishing.
- It is now a multibillion dollar company with over 40,000 retail stores worldwide and 31,800 employees producing over 10,000 new greeting card designs annually.
- Hallmark believes that high quality, creative products and services can improve people's lives and that innovation is critical to its continued success.
Governance mechanisms that work in a family businessBrowne & Mohan
Adoption of good corporate governance practices and professionalization help business continuity of family business. This paper presents both formal and informal mechanisms that Indian family businesses of various sizes deploy to improve corporate governance. Formal mechanisms include family assembly, family office, board of directors for each business and independent directors. Informal mechanisms include shareholders assembly, and family outings etc..
The triple bottom line measuring your organizations wider impactariysn
The document discusses the triple bottom line approach to business, which measures a company's impact on people, planet, and profits. It describes the three Ps of the triple bottom line: People, which considers how a business impacts all stakeholders; Planet, which focuses on reducing the ecological footprint; and Profit, which aims for profits to benefit the community as a whole. The triple bottom line can be used as a reporting system to drive improvements in how a business treats people and the environment. While it adds costs to monitor, it can justify the costs by creating greater positive impact.
Common traits of successful family business: why some thrive, while other fal...Browne & Mohan
How families build structures and process for managing the business and the family matters in the continuation of their family business. In this paper, Browne & Mohan consultants share common traits that associated with families that have survived multiple generations.
The staffing function learning objectivesafter completiariysn
The document discusses the staffing function and strategic human resource management. It provides an overview of Zappos.com's highly effective staffing model which emphasizes employee and customer satisfaction. Zappos.com carefully selects employees who demonstrate positive, customer-oriented attitudes and provides extensive training. This contributes to Zappos.com capturing 20% of the overall shoe market and 75% of their business coming from repeat customers. The document also outlines several key laws that form the legal environment for staffing, including those prohibiting discrimination and requiring reasonable accommodations.
This document discusses the effects of offshore outsourcing on corporations. It notes that U.S. employment laws may not apply to overseas associates, and that discrimination claims are less common and cheaper in some countries. Cultural traditions in other nations can also mean weaker employment laws. The document addresses how companies should consider employment issues like benefits and working conditions when outsourcing abroad to prevent unfair treatment. It also lists reasons why companies outsource, such as lower wages, contractual certainty, and expedited production. Maintaining good communication between clients and providers is important for addressing concerns.
Ibiamke & abanyam (2014) do reputable companies have superior earnings qu...Nicholas Adzor
The document compares the earnings quality of reputable companies to non-reputable companies in Nigeria. It measures corporate reputation using Forbes' 2012 ranking of top West African companies and estimates earnings quality using the modified Jones model. The results of a paired sample t-test did not provide evidence that Nigerian companies with higher reputations had significantly superior earnings quality compared to similar but non-reputable companies. This implies that more in-depth analysis of earnings quality using other measures should be done in addition to corporate reputation before making investment decisions.
The document discusses the risks faced by Potluck Café and Catering, a social enterprise located in Vancouver's Downtown Eastside that provides catering services and employment opportunities for local residents. It identifies five main risks: market risk, construction risk, management and staff risk, reputation risk, and liquidity risk. For each risk, it provides examples of how that risk impacts Potluck Café and suggests strategies for mitigating the risks, such as improving training, expanding to new premises, strengthening management, clarifying hiring practices, and maintaining financial stability. The case study examines how social enterprises must acknowledge and address risks to sustain their social missions over time.
This document summarizes a presentation given by Deborah Weinswig of Fung Global Retail & Technology. It discusses macroeconomic trends in the US and Europe, highlighting continued growth in the US and strong performance of some European retailers. It also profiles the fastest growing retailers in the US, Europe and Asia from 2005 to 2014. Finally, it outlines 17 retail disruptors, such as the influence of millennials, the sharing and subscription economies, mobile commerce and influencer marketing.
Path to Purchase Shopper Marketing MagazineAdam O'Connell
Johnson & Johnson partnered exclusively with Target's Circo private label brand to incorporate Circo's popular prints into colorful product sleeves for Johnson's baby products. This provided a convenient one-stop shopping solution for parents on Target shelves and online, making related skincare products easier to find. Consumer and shopper research showed that gift-givers and new parents value coordinated, customized products and convenient shopping experiences. The partnership increased sales for both brands by 25% by featuring the co-branded products together on eye-catching endcaps in-store and on Target's website.
“Selfish Accessibility” for Create Upstate 2016Adrian Roselli
We can pretend that we’re helping others by making web sites and software accessible, but we are really making them better for our future selves. Learn some fundamentals of accessibility and how it can benefit you (whether future you from aging or you after something else limits your abilities). We’ll review simple testing techniques, basic features and enhancements, coming trends, and where to get help. This isn’t intended to be a deep dive into ARIA, but more of an overall primer for those who aren’t sure where to start nor how it helps them.
What you will learn:
• Broader context for how all users are or will be disabled, whether temporarily or permanently.
• High-level overview of standards and tools already available.
• Review of WAI-ARIA and best practices for using it.
• Basic tests and best practices that can be integrated into development team.
• Specific code techniques.
This document provides guidance on firefighting tactics for strip mall fires. Strip malls present unique challenges due to their large, undivided interior spaces; lightweight wood construction; and potential for rapid fire spread. The document outlines offensive and defensive firefighting strategies and assignments, emphasizing an aggressive frontal attack and protection of exposures given the risk of early structural collapse. Tactics such as horizontal ventilation through glass storefronts and breaching lightweight partition walls are also discussed.
Industrial production of chemical solvents “Acetone” 2Esam Yahya
Acetone is produced industrially mainly through the cumene process, in which propylene and benzene are reacted to form cumene, which is then oxidized to form phenol and acetone. Other industrial production methods for acetone include the oxidation of isopropyl alcohol, hydrolysis of gem-dihalides, and reactions of alkane nitriles with Grignard reagents followed by hydrolysis. Acetone is widely used as a solvent in industries such as cleaning, paints, adhesives, and more. Strict laws regulate volatile organic compound emissions from industrial acetone production and use.
Do or Die: Retail Imperatives for Globalization, Personalization and Localiza...Deborah Weinswig
This document discusses trends in the global retail and technology industry. It notes that consumers are driving retailers and technology companies to globalize, personalize, and localize their offerings. The macroeconomic environment in key markets like the US is slowing, while online grocery is poised to boom with more players entering the market. Increased price competition from discounters and online channels is squeezing grocery margins further.
This document provides an overview of the production and operations of Alpha Paints Pvt. Ltd., a paint manufacturing company. It details the company's history, facilities, inputs, processes, outputs, and more. Key points include:
- Alpha Paints was established in 1971 in Ahmedabad, Gujarat, India and manufactures industrial paints.
- The production process involves mixing raw materials like pigments, solvents, and binders, grinding and dispersing pigments, thinning the paste, quality control checks, and packaging finished paints.
- Raw materials are received and stored on-site, while wastewater is treated before disposal. Paints are packaged in cans and boxes for storage
Dollar General has experienced significant organic growth in recent years, opening 537 new stores in 2006, 734 in 2005, and 722 in 2004. Dollar General's revenue grew from $6.1 billion in 2002 to $9.17 billion in 2006, while net income increased from $262 million to $138 million over the same period. The company's success is driven by its focus on low prices and convenience as an alternative to big box retailers for customers. While Dollar General has experienced success, it also faces competition from other dollar stores and discount retailers seeking to target value-conscious customers.
Tanglewood answer for case study chapter1annesunita
Tanglewood is a chain of general retail stores operating in 11 western states of the US. It aims to consolidate its management strategy. The document discusses Tanglewood's recruitment and selection process, including:
- Currently, each store manages its own recruitment while corporate HR only advises; centralization is needed as Tanglewood expands.
- The culture emphasizes employee participation, transparency, and suggestion-making. New employees often start as associates to learn the culture.
- Regional managers oversee 20 stores each and handle store manager hiring. Stores manage other recruitment and promotions.
- An analysis of Tanglewood's performance, industry, strategy, organizational structure, and values is provided to inform recruitment strategy.
This document summarizes key findings from a study on best practices in investment governance. It identifies five major governance challenges that funds face: managing risk, focusing on long-term horizons, innovation capability, aligning with a clear mission, and managing external agents/advisors. The study examined 10 top-performing funds and identified 12 common success factors. Six factors that are achievable for most funds are having a clear mission, effective use of resources by focusing on high-impact areas, strong leadership, shared investment beliefs aligned with goals, a risk framework tied to goals, and an appropriate manager lineup. Overall, the document advocates that good governance is essential for funds to thrive in a complex environment.
SWOT analysis
A SWOT analysis on McDonald’s and Monsanto
Name
Institution
Date
SWOT analysis is a strategic analysis tool that is used to help in the understanding of the strengths, weaknesses, opportunities and the threats that are involved in a business activity. It defines the objective of the business and identifies the internal and external factors that are very important in the achievement of business goals. The strengths of a business are the characteristics or traits that give it an edge over others whereas weaknesses are those characteristics or traits that pace the business at a disadvantage. The opportunities are the elements that the business has not yet exploited and would result in profit whereas threats are those factors that would be detrimental to a business leading to its decline. Strengths and weaknesses are internal factors that contribute to the business’s survival while opportunities and threats are external factors that should be implemented or put in check for the business’s growth.
McDonald’s corporation SWOT analysis
The company has had inclined earnings and sales over the past few years as it continues to struggle with the currency exchange rate, the fierce competition and market unfamiliarity but still enjoys being the world’s largest and leading fast food franchise. It is a modern and progressive burger company that delivers modern customer experience.
McDonald’s enjoys diversified income, the company is well funded enabling it to receive geographical diversification since it has many locations in different regions in the world. Being a strong global brand is one of its biggest strengths, it the most recognizable brand in the world. McDonald’s always puts its customers at the center of everything thus driving value for the stake holders. McDonald’s has numerous restaurants all over the world that it has leased out, franchising, making rent one of its biggest income.
Most of the jobs at McDonald’s are low skilled and low paying resulting to a significant amount of employee turnover. The negative publicity that the company receives is one of its biggest weaknesses, the perception that the food they offer is unhealthy has hurt its image.
McDonald’s has the opportunity to upgrade its menu, with the change in recipes and the menu there is a possibility of getting new customers. The company has expansion opportunities, being a worldwide brand, the company can expand in any cony of its choosing.
The company faces sign cant competition from national, international and local food retailers. Facing completion from companies like Wendy’s, Burger King and Sub Way, it becomes ...
Millennials are projected to make up 50 percent of the workforce by 2020 and 75 percent by 2025. This HR Toolkit outlines millennial retention strategies and what you can do to position your company for success.
Family Dollar provides an internal assessment of its current mission, vision, organizational structure, financial performance, and strengths and weaknesses. It also analyzes external factors like competitors, opportunities, and threats in the market. Based on this analysis, Family Dollar considers strategies to expand internationally, improve technology, reward employees, and provide more affordable products and community support. The document outlines tools to formulate strategies like focusing on core low-price products, pursuing strategic acquisitions, and strengthening competitive positioning through international expansion.
Chapter 01 [Part 1] Foundations of Business Economics (1).pptxAfifur3
This document discusses why business is studied and provides an introduction to business concepts. It covers five reasons for studying business: 1) increasing dependence on others, 2) international opportunities, 3) standard of living, 4) coping with change, and 5) preventing misconceptions. It defines what business is as the exchange of goods, services, or money for mutual benefit or profit. Finally, it outlines the key people in business as owners, managers, employees, and consumers and discusses common business objectives like survival, growth, social responsibilities, and profit.
The document discusses how to structure companies so that employees act like owners through creating "businesses within the business". It provides examples of companies that have done this successfully, including:
- Morning Star Foods, where workers manage themselves in peer-to-peer relationships and business units negotiate agreements like small businesses.
- Nordstrom, where salespeople have autonomy to make decisions and operate their own "stores" within the larger company.
- Rational Software, where cross-functional teams operated autonomously as stand-alone pods to serve customers.
- Semco, a Brazilian conglomerate that uses democratic management where workers have autonomy over decisions.
The document argues this "podular" structure
How to Break Through No Man's Land - The Stage Where Growing Companies Get Stucknewportboardgroup
Catherine Cates presented on how growing companies get stuck in "No Man's Land" between being a small startup and large established business. In this stage, companies often see stalled growth and profits. She outlined four key areas ("M's") to focus on: 1) refining the marketing strategy and value proposition; 2) creating an economic model that can scale profitably; 3) raising capital to finance growth; and 4) professionalizing management while maintaining culture. Tools like the Inc. Navigator can help assess alignment and priorities across the leadership team. Breaking through No Man's Land requires balancing entrepreneurial vision with business maturity.
Transforming Companies Through Value Creation not Value DestructionTotal CVM
Understandably, no one will want to change unless he sees a value in the change. And the Value has to be tangible and worthwhile. Value Creation is obviously a good idea for companies. Sometimes, evangelists like me forget that for most people the current situation is comfortable (they derive value from comfort). Many have bosses or Boards or company owners that demand profitability albeit short term. And if they do not deliver they run the risk of being fired (a value destruction situation for them). So there are many reasons for following the road well-travelled. My friend Jim Carras said to me: “You seem to make a big point of stakeholder value not being a good objective for companies and I fully understand your concept...................
Enter the World of BusinessWarren Buffet The Oracle of OmahaW.docxelbanglis
Enter the World of Business
Warren Buffet: The Oracle of Omaha
Warren Buffett did not change his life plans when he was rejected by Harvard. An avid reader with a photographic memory, he persevered. He researched other universities and discovered that Benjamin Graham, the author of the The Intelligent Investor, was a professor at Columbia University. He immediately enrolled there, was accepted, and became the star pupil and eventual partner of the famous Graham. After graduating, Buffett started a lucrative career, taking ownership in companies that he believed would do well in business.
Buffett’s company, Berkshire Hathaway, has become a conglomerate with ownership in well-performing companies, including Geico, Heinz, Benjamin Moore, and See’s Candies. Because Berkshire Hathaway owns companies in so many different industries, it reduces the risk that the failure of any one industry will significantly affect the company. Most importantly, Buffett believes in these firms and their value, a strategy that has made him one of the 10 richest people in the world.
Leading such a variety of companies comes with challenges as well. Companies require leaders who know the business and have specialized expertise—something nearly impossible for one person to do with so many different business areas. For this reason, Buffett depends on his managers to lead the various companies. He believes giving his managers autonomy allows them to achieve their highest performance. He wants his managers to “own” their job. By hiring knowledgeable managers and empowering them to run the companies as they believe best, Buffett is able to lead his vast business conglomerate successfully.
Buffett’s organizational leadership philosophy includes focusing on the business. At his headquarters, 25 people run the organization. He encourages entrepreneurs “to focus on the business and not growing a large staff.” Buffett has earned the moniker “Oracle of Omaha” because he has lived there most of his life and many investors follow his advice and decisions.1
LO 1-1
Define basic concepts such as business, product, profit, and economics.
Introduction
We begin our study of business in this chapter by examining the fundamentals of business and economics. First, we introduce the nature of business, including its goals, activities, and participants. Next, we describe the basics of economics and apply them to the U.S. economy. Finally, we establish a framework for studying business in this text.
The Nature of Business
A business tries to earn a profit by providing products that satisfy people’s needs. The outcomes of its efforts are products that have both tangible and intangible characteristics that provide satisfaction and benefits. When you purchase a product, you are buying the benefits and satisfaction you think the product will provide. A Subway sandwich, for example, may be purchased to satisfy hunger, while a Honda Accord may be purchased to satisfy the need for transportation and ...
This document summarizes a presentation given by Deborah Weinswig of Fung Global Retail & Technology. It discusses macroeconomic trends in the US and Europe, highlighting continued growth in the US and strong performance of some European retailers. It also profiles the fastest growing retailers in the US, Europe and Asia from 2005 to 2014. Finally, it outlines 17 retail disruptors, such as the influence of millennials, the sharing and subscription economies, mobile commerce and influencer marketing.
Path to Purchase Shopper Marketing MagazineAdam O'Connell
Johnson & Johnson partnered exclusively with Target's Circo private label brand to incorporate Circo's popular prints into colorful product sleeves for Johnson's baby products. This provided a convenient one-stop shopping solution for parents on Target shelves and online, making related skincare products easier to find. Consumer and shopper research showed that gift-givers and new parents value coordinated, customized products and convenient shopping experiences. The partnership increased sales for both brands by 25% by featuring the co-branded products together on eye-catching endcaps in-store and on Target's website.
“Selfish Accessibility” for Create Upstate 2016Adrian Roselli
We can pretend that we’re helping others by making web sites and software accessible, but we are really making them better for our future selves. Learn some fundamentals of accessibility and how it can benefit you (whether future you from aging or you after something else limits your abilities). We’ll review simple testing techniques, basic features and enhancements, coming trends, and where to get help. This isn’t intended to be a deep dive into ARIA, but more of an overall primer for those who aren’t sure where to start nor how it helps them.
What you will learn:
• Broader context for how all users are or will be disabled, whether temporarily or permanently.
• High-level overview of standards and tools already available.
• Review of WAI-ARIA and best practices for using it.
• Basic tests and best practices that can be integrated into development team.
• Specific code techniques.
This document provides guidance on firefighting tactics for strip mall fires. Strip malls present unique challenges due to their large, undivided interior spaces; lightweight wood construction; and potential for rapid fire spread. The document outlines offensive and defensive firefighting strategies and assignments, emphasizing an aggressive frontal attack and protection of exposures given the risk of early structural collapse. Tactics such as horizontal ventilation through glass storefronts and breaching lightweight partition walls are also discussed.
Industrial production of chemical solvents “Acetone” 2Esam Yahya
Acetone is produced industrially mainly through the cumene process, in which propylene and benzene are reacted to form cumene, which is then oxidized to form phenol and acetone. Other industrial production methods for acetone include the oxidation of isopropyl alcohol, hydrolysis of gem-dihalides, and reactions of alkane nitriles with Grignard reagents followed by hydrolysis. Acetone is widely used as a solvent in industries such as cleaning, paints, adhesives, and more. Strict laws regulate volatile organic compound emissions from industrial acetone production and use.
Do or Die: Retail Imperatives for Globalization, Personalization and Localiza...Deborah Weinswig
This document discusses trends in the global retail and technology industry. It notes that consumers are driving retailers and technology companies to globalize, personalize, and localize their offerings. The macroeconomic environment in key markets like the US is slowing, while online grocery is poised to boom with more players entering the market. Increased price competition from discounters and online channels is squeezing grocery margins further.
This document provides an overview of the production and operations of Alpha Paints Pvt. Ltd., a paint manufacturing company. It details the company's history, facilities, inputs, processes, outputs, and more. Key points include:
- Alpha Paints was established in 1971 in Ahmedabad, Gujarat, India and manufactures industrial paints.
- The production process involves mixing raw materials like pigments, solvents, and binders, grinding and dispersing pigments, thinning the paste, quality control checks, and packaging finished paints.
- Raw materials are received and stored on-site, while wastewater is treated before disposal. Paints are packaged in cans and boxes for storage
Dollar General has experienced significant organic growth in recent years, opening 537 new stores in 2006, 734 in 2005, and 722 in 2004. Dollar General's revenue grew from $6.1 billion in 2002 to $9.17 billion in 2006, while net income increased from $262 million to $138 million over the same period. The company's success is driven by its focus on low prices and convenience as an alternative to big box retailers for customers. While Dollar General has experienced success, it also faces competition from other dollar stores and discount retailers seeking to target value-conscious customers.
Tanglewood answer for case study chapter1annesunita
Tanglewood is a chain of general retail stores operating in 11 western states of the US. It aims to consolidate its management strategy. The document discusses Tanglewood's recruitment and selection process, including:
- Currently, each store manages its own recruitment while corporate HR only advises; centralization is needed as Tanglewood expands.
- The culture emphasizes employee participation, transparency, and suggestion-making. New employees often start as associates to learn the culture.
- Regional managers oversee 20 stores each and handle store manager hiring. Stores manage other recruitment and promotions.
- An analysis of Tanglewood's performance, industry, strategy, organizational structure, and values is provided to inform recruitment strategy.
This document summarizes key findings from a study on best practices in investment governance. It identifies five major governance challenges that funds face: managing risk, focusing on long-term horizons, innovation capability, aligning with a clear mission, and managing external agents/advisors. The study examined 10 top-performing funds and identified 12 common success factors. Six factors that are achievable for most funds are having a clear mission, effective use of resources by focusing on high-impact areas, strong leadership, shared investment beliefs aligned with goals, a risk framework tied to goals, and an appropriate manager lineup. Overall, the document advocates that good governance is essential for funds to thrive in a complex environment.
SWOT analysis
A SWOT analysis on McDonald’s and Monsanto
Name
Institution
Date
SWOT analysis is a strategic analysis tool that is used to help in the understanding of the strengths, weaknesses, opportunities and the threats that are involved in a business activity. It defines the objective of the business and identifies the internal and external factors that are very important in the achievement of business goals. The strengths of a business are the characteristics or traits that give it an edge over others whereas weaknesses are those characteristics or traits that pace the business at a disadvantage. The opportunities are the elements that the business has not yet exploited and would result in profit whereas threats are those factors that would be detrimental to a business leading to its decline. Strengths and weaknesses are internal factors that contribute to the business’s survival while opportunities and threats are external factors that should be implemented or put in check for the business’s growth.
McDonald’s corporation SWOT analysis
The company has had inclined earnings and sales over the past few years as it continues to struggle with the currency exchange rate, the fierce competition and market unfamiliarity but still enjoys being the world’s largest and leading fast food franchise. It is a modern and progressive burger company that delivers modern customer experience.
McDonald’s enjoys diversified income, the company is well funded enabling it to receive geographical diversification since it has many locations in different regions in the world. Being a strong global brand is one of its biggest strengths, it the most recognizable brand in the world. McDonald’s always puts its customers at the center of everything thus driving value for the stake holders. McDonald’s has numerous restaurants all over the world that it has leased out, franchising, making rent one of its biggest income.
Most of the jobs at McDonald’s are low skilled and low paying resulting to a significant amount of employee turnover. The negative publicity that the company receives is one of its biggest weaknesses, the perception that the food they offer is unhealthy has hurt its image.
McDonald’s has the opportunity to upgrade its menu, with the change in recipes and the menu there is a possibility of getting new customers. The company has expansion opportunities, being a worldwide brand, the company can expand in any cony of its choosing.
The company faces sign cant competition from national, international and local food retailers. Facing completion from companies like Wendy’s, Burger King and Sub Way, it becomes ...
Millennials are projected to make up 50 percent of the workforce by 2020 and 75 percent by 2025. This HR Toolkit outlines millennial retention strategies and what you can do to position your company for success.
Family Dollar provides an internal assessment of its current mission, vision, organizational structure, financial performance, and strengths and weaknesses. It also analyzes external factors like competitors, opportunities, and threats in the market. Based on this analysis, Family Dollar considers strategies to expand internationally, improve technology, reward employees, and provide more affordable products and community support. The document outlines tools to formulate strategies like focusing on core low-price products, pursuing strategic acquisitions, and strengthening competitive positioning through international expansion.
Chapter 01 [Part 1] Foundations of Business Economics (1).pptxAfifur3
This document discusses why business is studied and provides an introduction to business concepts. It covers five reasons for studying business: 1) increasing dependence on others, 2) international opportunities, 3) standard of living, 4) coping with change, and 5) preventing misconceptions. It defines what business is as the exchange of goods, services, or money for mutual benefit or profit. Finally, it outlines the key people in business as owners, managers, employees, and consumers and discusses common business objectives like survival, growth, social responsibilities, and profit.
The document discusses how to structure companies so that employees act like owners through creating "businesses within the business". It provides examples of companies that have done this successfully, including:
- Morning Star Foods, where workers manage themselves in peer-to-peer relationships and business units negotiate agreements like small businesses.
- Nordstrom, where salespeople have autonomy to make decisions and operate their own "stores" within the larger company.
- Rational Software, where cross-functional teams operated autonomously as stand-alone pods to serve customers.
- Semco, a Brazilian conglomerate that uses democratic management where workers have autonomy over decisions.
The document argues this "podular" structure
How to Break Through No Man's Land - The Stage Where Growing Companies Get Stucknewportboardgroup
Catherine Cates presented on how growing companies get stuck in "No Man's Land" between being a small startup and large established business. In this stage, companies often see stalled growth and profits. She outlined four key areas ("M's") to focus on: 1) refining the marketing strategy and value proposition; 2) creating an economic model that can scale profitably; 3) raising capital to finance growth; and 4) professionalizing management while maintaining culture. Tools like the Inc. Navigator can help assess alignment and priorities across the leadership team. Breaking through No Man's Land requires balancing entrepreneurial vision with business maturity.
Transforming Companies Through Value Creation not Value DestructionTotal CVM
Understandably, no one will want to change unless he sees a value in the change. And the Value has to be tangible and worthwhile. Value Creation is obviously a good idea for companies. Sometimes, evangelists like me forget that for most people the current situation is comfortable (they derive value from comfort). Many have bosses or Boards or company owners that demand profitability albeit short term. And if they do not deliver they run the risk of being fired (a value destruction situation for them). So there are many reasons for following the road well-travelled. My friend Jim Carras said to me: “You seem to make a big point of stakeholder value not being a good objective for companies and I fully understand your concept...................
Enter the World of BusinessWarren Buffet The Oracle of OmahaW.docxelbanglis
Enter the World of Business
Warren Buffet: The Oracle of Omaha
Warren Buffett did not change his life plans when he was rejected by Harvard. An avid reader with a photographic memory, he persevered. He researched other universities and discovered that Benjamin Graham, the author of the The Intelligent Investor, was a professor at Columbia University. He immediately enrolled there, was accepted, and became the star pupil and eventual partner of the famous Graham. After graduating, Buffett started a lucrative career, taking ownership in companies that he believed would do well in business.
Buffett’s company, Berkshire Hathaway, has become a conglomerate with ownership in well-performing companies, including Geico, Heinz, Benjamin Moore, and See’s Candies. Because Berkshire Hathaway owns companies in so many different industries, it reduces the risk that the failure of any one industry will significantly affect the company. Most importantly, Buffett believes in these firms and their value, a strategy that has made him one of the 10 richest people in the world.
Leading such a variety of companies comes with challenges as well. Companies require leaders who know the business and have specialized expertise—something nearly impossible for one person to do with so many different business areas. For this reason, Buffett depends on his managers to lead the various companies. He believes giving his managers autonomy allows them to achieve their highest performance. He wants his managers to “own” their job. By hiring knowledgeable managers and empowering them to run the companies as they believe best, Buffett is able to lead his vast business conglomerate successfully.
Buffett’s organizational leadership philosophy includes focusing on the business. At his headquarters, 25 people run the organization. He encourages entrepreneurs “to focus on the business and not growing a large staff.” Buffett has earned the moniker “Oracle of Omaha” because he has lived there most of his life and many investors follow his advice and decisions.1
LO 1-1
Define basic concepts such as business, product, profit, and economics.
Introduction
We begin our study of business in this chapter by examining the fundamentals of business and economics. First, we introduce the nature of business, including its goals, activities, and participants. Next, we describe the basics of economics and apply them to the U.S. economy. Finally, we establish a framework for studying business in this text.
The Nature of Business
A business tries to earn a profit by providing products that satisfy people’s needs. The outcomes of its efforts are products that have both tangible and intangible characteristics that provide satisfaction and benefits. When you purchase a product, you are buying the benefits and satisfaction you think the product will provide. A Subway sandwich, for example, may be purchased to satisfy hunger, while a Honda Accord may be purchased to satisfy the need for transportation and ...
Association of Millwork Distributors Millwork & More MagazineBecky Wanamaker
The housing market recovery is benefiting the millwork industry, especially the high-end segment. Home prices are rising as inventory decreases, making homeowners more willing to invest in large remodeling projects. The number of high net worth individuals is growing, and they typically invest in home improvements. Various housing market indexes show ongoing recovery in many cities. The recovery in high-end home building bodes well for millwork distributors catering to that segment.
Saylor URL: http://www.saylor.org/books Saylor.org
135
Chapter 5
Selecting Business-Level Strategies
L E A R N I N G O B JE C T I V E S
After reading this chapter, you should be able to understand and articulate answers to the following
questions:
1. Why is an examination of generic strategies valuable?
2. What are the four main generic strategies?
3. What is a best-cost strategy?
4. What does it mean to be “stuck in the middle”?
The Competition Takes Aim at Target
On January 13, 2011, Target Corporation announced its intentions to operate stores outside the United
States for the first time. The plan called for Target to enter Canada by purchasing existing leases from a
Canadian retailer and then opening 100 to 150 stores in 2013 and 2014. [1] The chain already included
more than 1,700 stores in forty-nine states. Given the close physical and cultural ties between the United
States and Canada, entering the Canadian market seemed to be a logical move for Target.
In addition to making its initial move beyond the United States, Target had several other sources of pride
in early 2011. The company claimed that 96 percent of American consumers recognized its signature logo,
surpassing the percentages enjoyed by famous brands such as Apple and Nike. In
March, Fortune magazine ranked Target twenty-second on its list of the “World’s Most Admired
Companies.” In May, Target reported that its sales and earnings for the first quarter of 2011 (sales: $15.6
billion; earnings: $689 million) were stronger than they had been in the first quarter of 2010 (sales: $15.2
billion; earnings: $671 million). Yet there were serious causes for concern, too. News stories in the second
half of 2010 about Target’s donations to political candidates had created controversy and unwanted
publicity. And despite increasing sales and profits, Target’s stock price fell about 20 percent during the
first quarter of 2011.
Saylor URL: http://www.saylor.org/books Saylor.org
136
Concern also surrounded Target’s possible vulnerability to competition within the retail industry. Since its
creation in the early 1960s, Target executives had carved out a lucrative position for the firm. Target offers
relatively low prices on brand-name consumer staples such as cleaning supplies and paper products, but it
also offers chic clothing and household goods. This unique combination helps Target to appeal to fairly
affluent customers. Although Target counts many college students and senior citizens among its devotees,
the typical Target shopper is forty-one years old and has a household income of about $63,000 per year.
Approximately 45 percent of Target customers have children at home, and about 48 percent have a college
degree. [2] Perhaps the most tangible reflection of Target’s upscale position among large retailers is the
tendency of some customers to jokingly pronounce its name as if it were a French boutique: “Tar-zhay.”.
Running head Mission, vision, and values. .docxtodd581
Running head: Mission, vision, and values. 1
Mission, vision, and values. 3
Name
Institution affiliation
Date
Mission, vision, and values
.
Introduction
The company that I have decided to study is Coca Cola Company. It started back in 1886 by a pharmacist known as Dr.John Pemberton in Atlanta. Currently is the leading company in the manufacture of beverages around the globe. Just like other companies, coca cola is working towards maintain a sustainable growth for the business in the beverage industries.
Body
Some of the company’s visions include; providing a great place to work for people, to offer a portfolio of drinks and brand, building a network with partners and helping to build and to support a sustainable communities. The company is in line with its vison. This is because they have managed to grow over the years in different cultures and environment. They have also made a partnership with other organization is supporting the communities in different countries which helps in supporting a sustainable community. The employees of this multinational business organization are given the best working condition while at the same time being motivated by great payments. (Papulova, 2014).
The missions of this company are; to refresh the world, to inspire the moments of happiness and creating value in people and the world as a whole. They have managed to achieve their mission by creating value to humanity. For instance, they support games such as football clubs, which eventually creates value in people. In addition to football, they also support music talent via programs such as coke studio, which offers a platform for the musicians to showcase their talents and styles. They have also managed to refresh the world by producing a variety of beverages, which offers their consumers a wide variety of choices. Apart from just producing beverages, they also have water production units, which refreshes the body. They also inspire moments of happiness by organizing events in communities and supporting talents.
The coca cola values include; leadership, collaboration, integrity, accountability, passion, diversity and quality. Since the company has managed to offer a variety of quality products at affordable prices, they have been able to meet their values.
The mission of any organization is usually meant to be used as a guide to the employees so that they can be able to live up to the rules and the regulations of the organization. It is important for the employees to master the company’s mission and the vision so that they can be able to work hard and achieve them. They also offer a road map towards the realization of profits for a given organization. Therefore, it is important for the employees to understan.
Running head Mission, vision, and values. .docxglendar3
Running head: Mission, vision, and values. 1
Mission, vision, and values. 3
Name
Institution affiliation
Date
Mission, vision, and values
.
Introduction
The company that I have decided to study is Coca Cola Company. It started back in 1886 by a pharmacist known as Dr.John Pemberton in Atlanta. Currently is the leading company in the manufacture of beverages around the globe. Just like other companies, coca cola is working towards maintain a sustainable growth for the business in the beverage industries.
Body
Some of the company’s visions include; providing a great place to work for people, to offer a portfolio of drinks and brand, building a network with partners and helping to build and to support a sustainable communities. The company is in line with its vison. This is because they have managed to grow over the years in different cultures and environment. They have also made a partnership with other organization is supporting the communities in different countries which helps in supporting a sustainable community. The employees of this multinational business organization are given the best working condition while at the same time being motivated by great payments. (Papulova, 2014).
The missions of this company are; to refresh the world, to inspire the moments of happiness and creating value in people and the world as a whole. They have managed to achieve their mission by creating value to humanity. For instance, they support games such as football clubs, which eventually creates value in people. In addition to football, they also support music talent via programs such as coke studio, which offers a platform for the musicians to showcase their talents and styles. They have also managed to refresh the world by producing a variety of beverages, which offers their consumers a wide variety of choices. Apart from just producing beverages, they also have water production units, which refreshes the body. They also inspire moments of happiness by organizing events in communities and supporting talents.
The coca cola values include; leadership, collaboration, integrity, accountability, passion, diversity and quality. Since the company has managed to offer a variety of quality products at affordable prices, they have been able to meet their values.
The mission of any organization is usually meant to be used as a guide to the employees so that they can be able to live up to the rules and the regulations of the organization. It is important for the employees to master the company’s mission and the vision so that they can be able to work hard and achieve them. They also offer a road map towards the realization of profits for a given organization. Therefore, it is important for the employees to understan.
1. RUNNING HEAD: Dollar General Store Page 1 of 19
Dollar General Store
Annette Wiseman
5/25/2016
DeVry University
Dr. Dibenedetto
2. RUNNING HEAD: Dollar General Store Page 2 of 19
Executive Summary
Dollar General has been delivering value to shoppers for over 75 years through its
mission of Serving Others. Dollar General helps shoppers Save time, and money by offering
products that are frequently used and replenished, such as food, snacks, health and beauty aids,
cleaning supplies, clothing for the family, housewares and seasonal items at low everyday prices
in convenient neighborhood locations. Dollar General operates more than 12,400 stores in 43
states. Dollar General has over 114,000 employees. Its corporate office is located in
Goodlettsville, Tennessee. Dollar General grossed over $20.4 billion dollars in the fiscal year
2015. The company is currently headed by:
Todd Vasos who serves as Chief Executive Officer,
John Garratt serves as Chief Financial Officer,
Jim Thrope, serves as Executive Vice President and Chief Merchandising Officer,
Jeff Owen serves as Executive Vice President, Store Operations,
Bob Ravener serves as Executive Vice President and Chief People Officer,
Rhonda Taylor serves as Executive Vice President and General Counsel,
Mike Kindy serves as Senior Vice President, Global Supply Chain,
Anita Elliott serves as Senior Vice President and Chief Accounting Officer.
Dollar General has its strengths, weaknesses, opportunities, and threats. One such
weakness and threat is how it treats its employees. While what is stated on paper looks and
sounds great. What is actually done goes against its own Mission Statement. This overview gives
recommendations on how the employees are treated and Recommendations of how this company
can correct their oversights.
3. RUNNING HEAD: Dollar General Store Page 3 of 19
Table of Contents
Company Overview……………………………………………………………………………....4
a) Mission Statement…………………………………………………………………....4
b) General Model………………………………………………………………………..4
c) Culture………………………………………………………………………………..5
d) Community………………………………………………………………...................5
SWOT Analysis……………………………………………………………………….................6
a) Strengths………………………………………………………………………………....6
b) Weaknesses………………………………………………………………………….......6
c) Opportunities…………………………………………………………………................7
d) Threats…………………………………………………………………………………7-8
Need-Gap Analysis………………………………………………………………………………9
Strategy………………………………………………………………………………………….13
Recommendations……………………………………………………………………………….17
References……………………………………………………………………………………….19
4. RUNNING HEAD: Dollar General Store Page 4 of 19
Company Overview
Dollar General Corporation
Dollar General Corporation (NYSE DG) has been in business over 75 years. Dollar
General Corporation Corporate office is located in Goodlettsville, Tennessee. The company’s
sole purpose is to serve others by offering high quality brands at discount prices. Dollar General
operates more than 12,400 stores in 43 states. Dollar General had over $20.4 billion in sales
during their fiscal cycle 2015, and has over 114,000 employees.
Dollar General’s Mission Statement
Dollar General Mission Statement is based on Serving Others, the customers are best
served when they keep it real and keep it simple. Dollar General builds convenient-sized stores
to deliver everyday low prices on products customers want. Dollar General believes in smarter,
easier shopping solution accessible to more consumers. Their goal is to provide customers a
better life and their employees opportunity and a great working environment.
Dollar General Model
Dollar General stands for convenience, quality brands and low prices. Dollar General has
been successful for over 75 years making shopping a truly hassle free experience. They believe
their smaller designed stores and edited merchandise selections make for a truly better shopping
experience. The average Dollar General customer completes their shopping trip in under 10
minutes.
5. RUNNING HEAD: Dollar General Store Page 5 of 19
Dollar General Culture
Dollar General feels it is a great place for people entering the workforce for the first time.
Dollar General provides basic work skills, along with competitive wages and benefits.
Experienced workers love Dollar General because of the opportunity to grow with one of
America’s best retailers. Dollar General celebrates excellence in its employees no matter their
station, managers, customer service, distributing centers or call center.
Dollar General Community
Dollar General promotes the spirit of involvement. Dollar General’s mission is to serve
deep into the heart of the communities it serves. Through charitable outreach, Dollar General
strives to make a lasting impact to individuals and their families.
(Dollar General, 2016)
6. RUNNING HEAD: Dollar General Store Page 6 of 19
SWOT Analysis
Dollar General’s business model outlines for prosperity even in times of economic hardship.
Strengths
Dollar General revenue is embodied by competitive retail pricing on everyday goods such
as toilet paper, detergent, dish soap, and some hardline items such as coffee makers, can
openers, some automotive needs, and some apparel, and snack foods.
Dollar General operates on offering deep discounts to its customers, and using small no
frills convenient style stores. Keeping their items prices at minimal gives them a strong
advantage over other retail stores. Many items in Dollar General are priced at $10 or less.
Dollar General’s strategy has earned the frugal customer who wishes to get items on a
budget.
Dollar General small store design is meant to keep operating costs at a minimal. By
having a small store design Dollar General is able to fit into many communities with
minimal startup costs per building.
Weaknesses
Dollar General must rely on third party vendors for sourcing products.
The quality and availability of goods offered may be limited due to the reliance of third
parties.
High employee turnover, first time employees or uneducated employees can lead to poor
customer service, lack of proper product placement and failure to meet customers’
expectations.
Lack of manpower makes customer service hard to achieve, also lack of manpower may
make stocking customer essential products hard to achieve.
7. RUNNING HEAD: Dollar General Store Page 7 of 19
Long legal battles with managers and employees cost the company money.
Work related injuries cost the company money.
Having a stringent business model this reduces manpower needs, and operating costs,
makes for a weakness in the company as a whole.
Having employees who feel used, abused, broken and disposable.
Having a CEO Todd Vasos and other top CEO’s make upwards of $1 million to $9
million and paying and treating salaried managers and employees so poorly.
Employees are alone in stores without coworkers, no workplace identity and no labor
union presence.
Opportunities
Uncertain economic times makes Dollar General a good alternative to higher priced
competitor options.
First time employees have a way to get experience in the work place.
Being focused on the communities they are serving makes finding employees who are
community centric a key element in ensuring community success. Everyone wants a
neighborhood store where people know each other.
Working in close relationships with their managers and employees to ensure a great
working environment and better service all around.
Threats
Competition is always a threat to retail establishments. Walmart and other stores such as
Dollar Tree, Family Dollar all pose a risk to Dollar General.
Regulations with various federal, state, and local laws and regulations. Changes in these
laws and regulations has a huge impact on Dollar General.
8. RUNNING HEAD: Dollar General Store Page 8 of 19
Increasing labor cost means higher prices on goods to offset the mandated minimum
wage.
Labor disputes many employees are unhappy with the way Dollar General treats its
employees this proves to cost the company money in legal fees, and fines in some states
or local communities.
A business model that requires labor cost be kept down at all costs.
High spending on CEO’s salaries and benefits.
Voted # 4 Worst company to work for in America.
Low Employee morale.
Moreover, there are many issues Dollar General deals with on a daily basis. With increasing
wages, increasing prices on goods Dollar General may need to rethink their business strategy
even after 75 years, even though it still may seem successful. (MarketLine, 2013)
9. RUNNING HEAD: Dollar General Store Page 9 of 19
Need-Gap Analysis
The retail industry is one of the lowest paid industries in the economy for its employees.
The median annual salary of $25,000 (Bureau of Labor Statistics, 2015) Retail workers are
unlikely to have what it needs to support their families let alone be able to purchase employer
health insurance. The low compensation driven by customer’s demand for low prices had been
the largest contributor in retail growth. (Jamison, 2013) Dollar General offers the lowest
compensation in the retail industry for its managers who are really just glorified manual laborers.
Regular Dollar General employees fair better than managers who are salaried and are not
covered under the law for overtime requirements.
Dollar General’s standpoint on what it offers its employees is they strive to treat their
employees with respect and opportunity. Dollar General offers Health and Welfare Benefits with
multiple comprehensive plans varying in levels of coverage and cost based on what is needed.
Dollar General contributes toward the cost of these benefits, so they feel they can offer these
benefits at an affordable cost to their employees. According to Dollar General all full time
employees and part time employees who average 30 hours per week are eligible for coverage.
The coverages offered are Medical/Dental/Vision/Prescription/Long Term Disability/Critical
Illness/Accident/Business Travel Accident/Wellness Programs/Employee Assistance Program.
Dollar General also states they offer a Compensation/Rewards/Work Benefits including
competitive pay, annual bonus opportunity, service award recognition program, vacation time
with pay and paid holidays, and a non-smoking environment. Retirement Savings plan through
401k savings and retirement plan Dollar General offers dollar for dollar up to 5% for the first
year. (Dollar General, 2016)
10. RUNNING HEAD: Dollar General Store Page 10 of 19
This sounds great on paper, what do employees and government officials say about
Dollar General’s benefits and compensation? According to former Presidential nominee Ralph
Nader “The treatment of employees by Dollar General Corporation is Shameful.” (Jamieson,
2013) Nader goes on to say” that by treating the American employees shamefully they are
actually hurting our economy since the low wages often forces the employee to seek government
assistance to help take care of their families.” Employees are fed up with Dollar General’s
treatment of them. A former employee Dawn Hughey started working at Dollar General in 2009.
In just four months she was named manager of the store. After a short time becoming manager of
the store she quickly realized she like many other so called managers at Dollar General are
managers in name only. Dollar General Store managers are required to work beyond the 40-hour
work week. One complaint is that Hughey had only four employees for a 125-hour work week.
Hughey states “that the hours they are allowed to assign barely cover the work that needs to be
done.” The store operates on a skeleton crew and managers are required to keep payroll down at
all costs. Hughey like so many other so called managers at Dollar General spend most of their
time unloading trucks, stocking shelves, and manning cash registers, often working 12-hour
days, six days a week. Dollar General saves a lot of money by having their managers do the work
since being a salaried employee makes managers exempt from overtime, Dollar General does not
pay for the extra work. Dollar General managers often work 70-hour work weeks for a salary of
34,700 which breaks down to less than $10 an hour, not a managerial salary at all. (Saunter,
2013)
Another issue is managers and employees often working alone or with one other person
are constantly putting strain on their bodies from unloading trucks and stocking shelves on a
constant basis. Hughey was injured in July,2011 and was fired. According to Dollar General
11. RUNNING HEAD: Dollar General Store Page 11 of 19
“her productivity issues predated her injuries.” Dollar General continued to punish Hughey by
denying her worker’s compensation. Stingy payroll practices in the business model leaves many
employees overworked, underpaid, and even injured. Leaving many employees feeling used,
abused, injured, and disposable. Many Dollar store managers state “they are promoted to evade
overtime regulations and pay less money.” Many other managers and employees lost their jobs
or their hours once they got hurt or encountered health problems, leading to long legal battles.
Dollar General. (Saunter, 2013)
Since 2010 there has been an increase in lawsuits from employees. More than 30 federal
wage and hour lawsuits have been filed against the retail giant. Dollar General concedes they are
the price that is paid to keep costs low for the consumers. In 2010 Dollar General had sales
reaching $16 billion in 2015 sales increased to $20 billion. Settlements in these litigations have
been reached for up to $19 million. (Jamison,2013)
Dollar General likes to put the squeeze on employees. Dollar General sets a budget for
payroll and it is up to managers to closely watch these numbers and hit their sales goals to
remain operational while coming in under their payroll ceiling. Mangers quarterly bonuses which
are critical to these underpaid managers are solely related to their ability to keep stores profitable
on extremely thin margins. Dollar General store managers only have so many hours to give to
employers and even less for part time often the managers must handle any work left behind.
Many managers feel they are no different from those they supervise, with the exception their
hours are longer and the pay is averages to be the same as those they supervise as well.
Dollar Store managers make in the mid to high $30,000 well below Walmart’s
management average salary which is twice that with less workload. (CareerBliss)
12. RUNNING HEAD: Dollar General Store Page 12 of 19
Another issue with Dollar General is turnover. With managers barely able to make ends
meet it is even worse for the Dollar General store employee. With little hours and extreme
workloads, the turnover is huge. One Dollar General manager Berdie Gillis stated “there are not
enough hours, and not enough people. The turnover was horrible. Who gets left holding the bag,
managers.” (Jamison, 2013)
Dollar General trend towards its managers and employees is startling. This will help fill
the gaps and address this company’s needs. Hopefully we can make a change.
13. RUNNING HEAD: Dollar General Store Page 13 of 19
Strategy
There are better ways to handle managers and employees. Dollar General business model
is stringent with regards to employees in any capacity that is lower than CEO level. There are
ways to gain manager loyalty and improve company morale. These 20 steps are what is needed
to ensure Dollar General’s continued success.
1. Revise a 75-year-old business model that is out of date and out of time. The first place to
start is addressing the problem. Dollar General Business model needs revamping with an
employee in mind. Consumers in the retail industry are important but they are only one
factor. Remember employees are customers too.
2. The key to revamping and bringing the business model into this century is to address the
value of the employee. Dollar General has the attitude that employees are a dime a dozen
and if one leaves there is always a replacement. Time is money and when your company
spends time addressing legal issues, poor employee morale, and overworked managers
then the business itself begins to suffer. Training new employees, and mangers costs the
company money. Retention is key. Retain good employees and earn customers for life.
3. Make managers and employees understand they are wanted, needed, and appreciated. Do
not promote a manager unless you feel they can bring something new and inventive to the
mix. Managers are not glorified manual labor. Managers bring a sense of order and
balance to the company and should be treated with the respect the title deserves. When a
manager is appreciated then they can in turn show their employees they are appreciated
which in turn shows the customer they are appreciated. Loyalty is not a given it must be
earning. Looking good on paper fails to show managers and employees what they are
worth to the company.
4. Provide high performance managers perks, and give them the power to reward their high
performance employees. Dollar General prides itself in charitable activities. The first
charitable activity would be to provide your managers with higher salaries and higher
stock options. Also offer stock to full time employees a vested employee is a happier
employee since they take pride in something they have a say and have a part in.
5. Allow managers pride in your store perks. A monthly event for high performance stores.
When your team does something right reward them. It could be a social even, a company
picnic, or a small monetary reward for excellence. Allowing managers and employees to
feel they are a part of something is a great way to boost morale and keep profit margins
high. Some companies offer bonuses to high selling stores. Morale is high, compensation
to take care of home and family is met then your employees can start to meet their other
needs.
14. RUNNING HEAD: Dollar General Store Page 14 of 19
6. Understanding the work environment is crucial is understanding an employee. If a
manager is working 70 hours a week, with constant stress, and lack of support from the
company itself. This will take a toll on the employee’s morale when morale is low all is
lost. Understand that boxes of goods are heaving and having the same person unload a
truck alone or with one other person constantly will not only take a toll on their morale,
but will take a toll on their health as well. Make sure all managers and employees have a
safe, and healthy work environment. Ensure plenty of employees so the work load may
be divided evenly. This will save on costly Workers Compensation claims and keep the
employees safe, happy and above all else healthy. Make sure all employees get adequate
breaks and rest periods.
7. Use feedback surveys as a way to show employees you support and encourage their
continuous efforts at improving work conditions. Positive atmosphere is the start to
positive employees.
8. Encourage communications between upper level management, store managers and
employees by doing this a company can show its employees of all levels that their voice
is heard, and their opinion matters. Don’t stop at just hearing suggestions implement a
few to further showcase a caring company environment.
9. Be prepared to revise the company business model, mission statement, views on
everything. Be sure to include your employees as they are a huge part of a companies
continued success.
10. Ethics are important many employees feel better if they work for a company they can
trust and believe in. Being ethical in all areas of the business will boost morale. Happy
employees are profitable employees.
11. Be loyal to your employees. Do not dismiss them when they are hurt or injured. Do not
dismiss worker’s compensation claims and fight with an employee over how they were
injured if their doctor states it is a work related injury. Help your employees find safety
and security. When they are safe and secure in their home life as well as their career they
can focus on their career and it will bring out the best in them. Don’t treat people as
dismissible.
12. Create a safe, harassment free workplace for all employees of all races, creed,
nationalities. Do not base promotion decisions on race, creed or sexuality preferences.
13. The national average a Retail Store Manager makes in the United States range is $48,069
to $64,207. Median range is $54,689. The price point to which Store Managers feel safe,
secure, and validated is important to over al employee morale. Your managers feel they
15. RUNNING HEAD: Dollar General Store Page 15 of 19
are glorified manual labor. This is unacceptable in today’s society. Dollar General wants
to keep managers salaried and exempt from overtime, great, they need to feel that they
are appreciated when you do this. Managers overall morale for Dollar General is low,
when a manager’s morale is low. It does translate to the employees, which translate to
customer service and the customers are impacted. (Salary.com, 2016)
14. Understand Maslow’s hierarchy of needs. This needs to be addressed because it is the
self-preservation of all living humans. We require each step to be complete in order to
strive for the next set. This is simple psychology and the psychological needs of your
employees need to be understood and protected. When a person fails to meet any step
they cannot proceed to the next step. Dollar General should expect their employees to be
reaching for self-actualization and not stuck on Physiological needs of being able to
provide food and water for themselves and their families or Safety is knowing you have a
job that will be able to provide for yourself and your family. Dollar General should
promote all five of these self needs. To understand your employees, you need to fulfill
their basic needs. (McLeod, 2007)
15. Become a better employer and friend to the communities you serve. Employees are
customers and customers are employees. By giving back to the communities this brand
can become even bigger and better.
16. Give employees a chance to help others, have a morale booster such as wear a hat to
work day every employee who wears a hat the company will donate a portion of the day’s
proceeds to a charity of their choice. This gives the employees a chance to feel they are
doing good, and giving back.
17. Understand your employee’s goals, hopes, dreams and fears. Understand in most cases
they need this job to provide for their family and themselves. The company can make
each and every employee a valued asset. This will reduce turnover and improve the
company’s rankings in the long run for the long haul.
16. RUNNING HEAD: Dollar General Store Page 16 of 19
18. Offer employee discounts, and family discount days where family can take an additional
sum off their total purchase. This will in turn boost morale, confidence that the company
cares about their wellbeing and that of their family. This turns the employees into
customers that may splurge on purchase they would otherwise not have made. This brings
in more profit
19. Ensure your employees have a livable wage. Mr. Vasos makes $9 million a year there is a
huge gap between $9 million and $20,000 come out and see your employees do a day’s
work for a day’s pay and see if this is acceptable to you. This puts you the CEO on the
same page as your employees and the disconnect that happens at Dollar General will
close. Once a livable wage is met, there are other compensations that can be met to
ensure employee loyalty to the brand than monetary value.
20. You don’t have to go overboard with making employees feel valued, you don’t even need
to increase their wages beyond that of livable. There are many forms of compensation
more than monetary. Treat employee’s fairly, make them feel appreciated. Recognize that
without your employees you do not have a business to begin with.
17. RUNNING HEAD: Dollar General Store Page 17 of 19
Recommendations
Dollar General is a booming multi-billion-dollar company in America. This company has
products that are sought after by the US population. Employment at this company should be a
privilege and not a burden to the customers you serve. Always remember that your employees
are customers as well. This company does not have employee’s best interest at heart.
Recommendations for further utilizing managers and employees. Dollar General needs to
become an employee friendly company. When employee’s morale is high, the work gets better as
does the service. The way to fully follow your mission statement of Serving Others, the
customers are best served when they keep it real and keep it simple. Dollar General builds
convenient-sized stores to deliver everyday low prices on products customers want. Dollar
General believes in smarter, easier shopping solution accessible to more consumers. Their goal is
to provide customers a better life and their employees opportunity and a great working
environment. Your company is successful but your employees are not happy. Therefore, your
company is not following its own Mission Statement.
Your Business Model does not support the Mission Statement. Keeping small stores in
communities is a great plan and has been successful for revenue for 75 years. Your employees
are often over worked and underpaid, left feeling used, abused, and broken. The Business Model
in itself does not support the use of employees. Managers are under strict impossible guidelines
to not use workers and the managers are left to do the work themselves, often for less pay then
the National Average. This needs to change before the employees Unionize.
18. RUNNING HEAD: Dollar General Store Page 18 of 19
Treat your employees with respect, show them that as a company Dollar General cares
about their employees. Bring in qualified store managers and give them the resources necessary
to staff properly. Create a safe natural working environment. When a truck comes in have more
people staffed those days than on other days. During the holiday season have more staff.
Acknowledge employees who are going above and beyond. You do not need to over compensate
but ensure that your employees are making a livable wage.
Dollar General looks great on paper, in the stock market and by what the CEO’s get paid
it shows that the American customers love Dollar General. It is time to make the employees love
working for Dollar General.
Remember employees are customers too, “Give back, keep it smart, keep it real, and
keep it simple.”
(Dollar General, 2016)
19. RUNNING HEAD: Dollar General Store Page 19 of 19
References
Dollar General Salaries | CareerBliss. (n.d.). Retrieved June 14, 2016, from
https://www.careerbliss.com/dollar-general/salaries/
An overview of Dollar General. (2016, June 10). Retrieved June 14, 2016, from
https://newscenter.dollargeneral.com/company facts/fastfacts/
Jamieson, D. (2013, December 9). Ralph Nader: Dollar General's Treatment of Workers Is
'Shameful' Retrieved May 31, 2016, from
http://www.huffingtonpost.com/2013/12/09/ralph-nader-dollar-general_n_4414272.html
M. (2013, July 23). Dollar General SWOT Analysis 2013. MarketLine, 1-8. Retrieved May 25,
2016, from http://eds.a.ebscohost.com.proxy.devry.edu/eds/detail/detail?sid=3fad7489-
7a8b-4357-802a-
5e5009794aa0@sessionmgr4003&vid=4&hid=4210&bdata=JkF1dGhUeXBlPXVybCxjb
29raWUsaXAsdWlkJnNpdGU9ZWRzLWxpdmU=#AN=89712787&db=bth
McLeod, S. (2007). Maslow's Hierarchy of Needs. Retrieved June 7, 2016, from
http://www.simplypsychology.org/maslow.html
Retail Store Manager Salaries. (2016, June 14). Retrieved June 12, 2016, from
http://www1.salary.com/Retail-Store-Manager-Salaries.html
Saunter, M. B. (2013, July 22). America's Worst Companies to Work For. Retrieved June 14,
2016, from http://finance.yahoo.com/news/america’s-worst-companies-to-work-for-
152240719.html
Retail Median Salary. (2015, December 17). Retrieved May 27, 2016, from
http://www.bls.gov/ooh/sales/retail-sales-workers.htm