Good morning again I am feeling positive today
- Slides: 9
Good morning again, I am feeling positive today that the technology will not let us down! I am going to lead you through Business lecture no 2 this morning. 2 I t e e h s k r o he w t d e d a o l n rite w w o / e d p e y v t a d h n d to it a s e e n c l i a w o t u able n, yo o e i b s s r e o s ) s s i e h l i t s (F m a • For e T a i v u o tions s e u have sent y his time. q y n a ote n t r g o n i s r e t u o d n t i on ake m o t n e p a and r e Aldi p e a d p i s d n I e e 5 n l e ann h • You C o t s s e c ed ac e n o s l a l l i • You w 31/10/2020
A good business studen t not only knows their theory, i. e. the content that is on the specificat ion, but s r e also thinks business an w s n a for d thinks like s k o o l d an s n a businessman. o i t s e u q s k s a e iv t i s i u q n i s ti n e In the news today – how does this d u t s s l e a in s s u u s b affect business? d d n o u o o r Ag r u s that s n t o c i t e j c b a u e s h a t s t i o s p s s e o n t t r a Busi t s e ; W ”. ? y y a h d W y “ r e k v s e a y d a n d a s e s s e n i s u b y b n take 31/10/2020
Inside Aldi: Britain’s Biggest Discount Store Part 1 Channel 5 Documentary https: //www. my 5. tv/inside-aldi-britain-s-biggest-budget-supermarket/season-1/inside-aldi-britain-s-biggest-budget-supermarket Last week we examined what a competitive market is: What is a competitive market ? – please type in chat 31/10/2020 What is competitive advantage ? – please type in chat
Competitive advantage Which strategy does Aldi use? . At home you also this week looked at costs, the different types of costs a business could have. 31/10/2020
In year 1 of Business a lot of the content covered is about tactics. These are short term actions taken by a business. In year 2 you study more about strategy. These are the medium to long term actions taken by a business. In the first part of the programme you watched, a statement made about the growth of Aldi in the UK was “It is nothing but good for the supermarket industry and for shoppers”. . Please fill in the table on your worksheet 31/10/2020
Time for Application Watch the second part (from 16 mins. ) of the Channel 5 documentary “Inside Aldi”. Add to your original spider diagram to show any more actions that you think Aldi takes to gain a competitive advantage – consider the stakeholders https: //www. channel 5. com/show/inside-aldi-britains-biggestbudget-supermarket/ What evidence is there of Aldi successfully cutting costs and increasing efficiency? 31/10/2020 Be prepared to feedback.
For further study this week from this clip – Read the Worksheet 2 and answer the questions on the Worksheet 2 Why do big businesses have power? To what extent do you think the big supermarkets behaved in an ethical manner when faced with the threat of Aldi entering their market? How has Aldi challenged our perception of brands? You have so far had a brief introduction to the 4 functional areas of business through Aldi. Marketing Finance People Operations/resource management Branding Competitive advantage Market share Marketing mix 31/10/2020 Cost savings Total costs Motivation Location Efficiency Ethics
Motivation There are various theorists who consider that people are motivated at work for different reasons What do you think? https: //www. youtube. com/watch? v=pp. PClode 2 A 0 31/10/2020 PAY Hierarchy of needs Job nt e m h c i r n e Socia l need s Job enla rgem e nt t n e m r e w o p m E
Theorist Motivation beliefs What evidence is there of Aldi motivating its workforce? 31/10/2020
