GameStop Organization

Posted on: 9th May 2023

Question

Please complete the following sections: Operations, development, management, summary of financials and offering

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Solution

Business Plan: GameStop Organization

Operations

GameStop is an American is an American-based company which deals with video game gaming merchandise and consumer electronics. It is based in Grapevine, Texas and is one of the world's largest video game retailers. Basically, the company deals with new and pre-owned video game platforms. Therefore, for GameStop to achieve its investment returns, there's a need for an operational strategy. Operation strategy plays a significant role in making sure the company has long-term planning on customer services and business strategies. Also, with operation strategy, the company can come up with actual plans that will make sure it achieves its business goals.

Given that GameStop wants to reach a comprehensive customer, the company needs to have a transformational strategy to help attract more customers. It is evident that either the company creates tangible products or provides services. Therefore, it has to revolve around how it produces and measures performance. Like other business operations, the company is vital to the GameStop organization because it helps the company develop market strategy and finance.

Basically, operation strategy helps develop market strategy, which will help realize the business goal and focus on action to reach the right customers. For instance, GameStop is an omnichannel video game retailer which merchandise value video games hardware and software products around the globe. Moreover, the company operation is spread across Canada, Australia, the US and Europe. Due to the wide market that the organization has embraced, it is good for it to a market goal that will identify the company's business goals. Business goals have to include increasing the awareness of the company products to the market and reaching new customers in the market. For GameStop to outshine its competitors such as Amazon, Best Buy and Carrefour, it has to embrace the SMART method as that will make the company. With specific stated goals the GameStop will achieve its market value. Moreover, given that my company wants to remain profitable in the market, it has to develop a profile of our competitors. This will include identifying their supply chain, marketing tactics, and pricing that will enable GameStop to improve its performance in terms of returns investment. 

Development

In any business development, strategy is vital as it helps boost the company's success. The successful exploitation of new ideas is crucial to the company as it helps improve its processes and improve its products and services to market. The new ideas to business always enhance the profitability of the company, something that leads to a positive outcome on the returns on investment. The current world has become more competitive thus, there's a need for the company such as GameStop to access new technologies so that to develop new ideas that will enable the company to be innovative, thus developing the new idea that will help the company to remain competitive advantage in the market like its competitors. However, for the company's development product to be significant, there's a need to approach the market innovatively. For instance, before introducing the new product, GameStop has to analyze the market to understand if the new product you are developing can add value to the customer segment. In addition, given that GameStop operates in different markets, it is significant for the organization to identify opportunities for innovation as that will make the company introduce new technology and practices at the workplace. For instance, before coming up with the new idea, the company has to relook the competitor's product's reputation to revamp innovation to a particular quality of your merchandise. Moreover, funding the development of the new product is significant; thus, GameStop needs to look at the risks of coming up with new products by finding a significant way of doing it so as not to register losses. The cost of funding new ideas within the company and observing a return on investment is vital because the current technological world is ever-changing. Therefore, there's a need for my company to be keen when developing new ideas.

Management

Like other factors, management plays a significant role in the company's growth. For instance, in GameStop, the company Board of Directors has the mandate of setting standards for the organization's directors, employees and other officers. In addition, BOD has the mandate to serve as a prudent fiduciary and oversee management. Therefore, from the company information, it is evident that the company is well-structured to meet the customer's needs in the market. In addition, the company has a more qualified board of directors' factors contributing to its aggressive market growth.

Moreover, given that the company's main aim is always to register positive outcomes in the market, it is vital to have management structured in the section; this will help reduce factors that can hinder the growth of business in the market. This structure includes company ownership, internal management, external management and human resources. With such a structure, the company will be able to handle any challenge they may face in a significant way, thus leading to the successful growth of the company in terms of competition in the market and returns on investment. In addition, the business has to include CEO, HR managers, and other senior managers on their board. HR will play a vital factor for the company as part of management; he needs to make sure that the company gets more qualified and talented employees who will ensure the company achieves its goal in the market.

Summary of financials

Finance is a significant factor in the market. Like another corporate in the business industry, the GameStop's main aim is to ensure that it has gotten vital returns on investment. Given that GameStop's main reason for investing in the new product is to attract more customers. The company needs to consider its expenses to account for the cost of productivity, cost of goods sold, payrolls, insurance and advertising. For instance, the company invests $400000 in the development of the new products, it will be good for it to analyze its business expenses to register a positive outcome. Also, the company needs to have financial projections, funding requests, and exit strategies to help account for the company's investment in the new market. 

Offering

Adding a new product to the market is significant for any business. However, in this case, GameStop wants to offer something that can return investment. Conclusion: there's a need to consider different factors to ensure the company registers positive outcomes in terms of profitability. If there's no significant growth, my company can decide to exit the investment. Moreover, it is significant before the company accepts to offer its new products to consider consumers' shopping behavior in their global market. Also, as with shopping behavior, GameStop will reduce the likelihood of being disappointed in the product that will positively affect the company. 

Works Cited

GameStop. Corporate Governance. n.d. https://news.gamestop.com/corporate-governance. 02 Dec 2021.

Stiebel, J. H. GameStop: Power to the Players?. Available at SSRN 3883295. (2021).

Zackariasson, Peter, and Timothy L. Wilson. "Basics in the marketing of video games–The nature of the offering, internal marketing of projects, and a product manager's view of the overall process." NFF conference. Turku, Finland. 2010.

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