TSL Jewellery Case Solution
Should TSL adopt franchising?
TSL should adopt franchising model as franchising is advantageous for both the seller and the purchaser. For franchisors, the essential advantage is the capacity to utilize everyoneâ€™s cash to expand the brand more quickly than they could by themselves or through speculators or loan specialists.
For franchisees, the advantages are; a higher possibility of achievement than in a sole proprietorship, shorter time in opening, initial training and continuous support, help with finding an ideal site, the offering force of a known brand, lower costs through collective purchasing, and lastly utilization of a built up business mode
TSL, in any case, was known forÂ empowering development of the business in territory China, especially in the establishment business, which surprisingly was the main source of income.
Annie Yau Tse, the executive and CEO of TSL, stated that despite confronting difficult economic situations, the business has improved due to the development of business in China in 2015, as well as the extension of the establishment system and the fast developing e-business segment. (JNA, 2016).
TSL balance the need for control in branding and service quality
Brands are vital in the customer markets as they are the interface between the customers and the organization, and consumers may become to specific brands due to the satisfaction from consuming their products/services. They are the interface amongst the purchasers and the organization, and buyers may create trust and dependability on brands
Service quality is an engaged assessment which reflects the clientsâ€™ view of components of the management such as communication quality, physical environment quality, and result quality.
Therefore, the balance between branding and service quality depends on the customers that the business is targeting and to consider the competitors as well in order to serve value based service in the industry.
Identify three issues you would investigate
- Solving family and business issues is considered as the greatest challenge.
- Maintaining family control of the business is the second most difficult challenge, followed by planning and training the new employee.
- A family owned business faces basic difficulties that depending upon their business life cycle.
- Attracting and retaining the talent: TSL has a major impact on both scenarios such as;the business is operated by skilled employees and secondly,employees feel the sense of ownership in the business rather than consider themselves as an employee.
- Balancing family and business priorities: Family businesses with formal consultative boards perform better (as far as business execution and accomplishment of family-situated objectives are concerned) as compared to those that did not have formal counseling boards.
- Business continuity planning: Most of the businesses have no future planning however,TSL has strategic vision for the company in order to grow the business grow further by expanding in China and other parts of Asia.
- Competitive strength and performance: TSL offers quality products, which makes it better than its competitors in terms of product and service quality and innovation in transformation of the products, which also improves the financial performance.
- Offering quality of products and services: TSLâ€™s objective is to compete with its rivals in terms of differentiation, which will attract the customers and would result in generating more income and as a result,it would improve the cash flows.
Conduct a SWOT (strengths, weaknesses, opportunities, and threats) from an operations management perspective:
The strengths comprise of internal capabilities of the company, which represents the capabilities and resources of the business. Moreover,TSL has a high level of skilled workers and the business can outsource its employees in case of expansion in any other part of Asia…………………
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