An Analysis of Sainsbury’s Supermarkets Ltd and the Effect of the Credit Crunch on Its Performance

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Introduction This dissertation seeks to examine Sainsbury’s supermarkets plc (Sainsbury’s) as a company and how they can use their established brand to branch out and gain potential growth in the industry, and to explore how they are coping with the recent credit crunch. Sainsbury’s has come a long way from being the market leader to dropping to the third position which it is struggling to maintain. This can be attributed to a series of wrong decisions and lack of foresight leading to their current struggles. They suffered from poor management in the past and this has reflected on their effort to catch up with the industry leaders. In addition, because of the recent credit crunch, banks have cut back on lending to both individuals and firms thereby swaying consumers to demand cheaper products and curb their expenditures. A question springs to mind: prior to the crisis, supermarkets have passed on rising food prices to consumers but now more than ever prices are low, so why the sudden change in tactics? Small businesses are going under due to lack of finance which hinders them from competing and offering low prices but this loss to society becomes a gain to the big supermarkets. Does this mean that the supermarket industry has less risk than other industries or has the supermarket industry adjusted strategically to cope with the global downturn? 2. Background of the study Sainsbury’s supermarket, a subsidiary of J Sainsbury plc was first opened in 1869 and is one of UK’s most reputable stores. They own 509 supermarkets and 276 convenience stores around the UK according to their website and are best known for their quality products that are priced fairly. It operates as an oligopoly where only few firms in the industry have majority of the market shares. Historically they have had the advantage of been in the industry a lot longer than its competitors who have now taken over in both performance and market share. Over a consecutive three month period ending in June 2008, Sainsbury’s reported 3. 4% increase in like-for-like sales which exclude fuel. They have recently boosted their ‘basics’ range in order to meet the growing demand and attract new customers. They have promoted their brand with the help of celebrity chef Jamie Oliver In the current economic climate, the supermarket industry seems not to be affected financially by the lack of global credit but they have had to change their operations strategically to meet the demand of customers in the recent economic downturn. The food industry runs a low risk trade because majority of its products are necessities unlike other industries such as the banking sector who have suffered greatly from the credit crunch e. g. Lehman brothers. Across the continent and the UK, supermarkets have not been adversely affected by the economic crisis. Contrary to the recent events, the supermarket industry has in general employed more staff globally than any other sector. E. g. Asda has pledged to employ 7000 new workers in 2009 (BBC), Tesco also plans to take up 10,000 new workers (Sky News). Some of the supermarkets are making plans to expand and open new stores in the current economic climate impaired with lack of credit. Companies have had to improve efficiency in order to minimise their cost and to increase profitability. 3. The Aims of the research project are to: †¢ Provide an assessment and summary of Sainsbury’s supermarkets plc: -using financial, operational and business performance analysis to compare them against their competitors. †¢ Analyse its position in the industry before and during the credit crunch: – they are currently experiencing increased sales during a recession. †¢ Investigate the reasons why Sainsbury’s is not the market leader: – they were the pioneers of the industry and now they are struggling to maintain third position ranking. Put together recommendations for Sainsbury’s on opportunities available to them that could lead to potential growth and increase customer loyalty: – suggest poss ible solutions and strategies that could help rebrand and reposition them in the industry. Personal aims include: †¢ Gaining more knowledge and skills in performing research through various techniques. †¢ Complete a compulsory component to secure an MSc degree in International Management. The objectives of the research project are to: †¢ Evaluate the supermarket industry. †¢ Examine the role of Sainsbury’s in the industry. †¢ Establish if there are still market growth opportunities. †¢ Accessing the impact of the credit crunch on the industry. Reason behind the recent increase in sales during the credit crunch. †¢ The effectiveness of their marketing strategy and its impact on their sales. †¢ The role and contributions of operations to Sainsbury’s. 4. Literature Review and limitations of the study Sainsbury’s has recently been losing customers to discount stores like Aldi and Lidl who offer lower value products at cheap pr ices and since then the company has rebranded and improved on its financial and operational performance but has still not caught up with the market leader. Their own brand ‘basics’ is a core strength to the business but they seen to be losing the battle of drawing consumers to purchase upscale and premium products from them. Sainsbury’s grew rapidly after its first store was opened but suffered great losses after the Second World War when turnover fell drastically but the company evolved and grew once again till they experienced a change in management style in 1992. David Sainsbury and his successors made great decision mistakes under their administration including the rejection of branching into non-food retailing amongst others. During this downturn, their competitors grew rapidly. An opportunity that needs s to be explored is the increase in demand for organic products while striving to minimise the threat of their lack of international market exposure. It is important to point out that porters 5 forces has some weakness of been static, lacks guidance on how to define an industry and not forward looking. With these flaws, it is also considered to be a useful tool in identifying threats to profitability, strategic planning to outperform rivals and helps to identify less competitive segments. A limitation to the report will be the sample size used which will be small compared to the total population and maybe income, age and taste sensitive. The result from the survey will be biased because it will be focused in the south west region of the UK and only few stores will be used. 5. Methodology and methods The research aims will be achieved with a combination of primary and secondary research 5. 1 Literature review The research method will be reviewing the literature on the supermarket industry with its focus being on Sainsbury’s. This will be achieved from the use of secondary data collected from textbooks and journals through Royal Holloway university library and other relevant resources including the use of commercial databases and internet search engines. The dissertation will adopt a case study method. 5. 2 Data collection and sample This report will use qualitative and quantitative data as sources of primary research. An analysis of original documents will be utilised including carrying out a small sample survey of 30 individuals each for Sainsbury’s and its competitors. This will entail the use of questionnaires with closed questions imputed into Statistical Package for the Social Sciences (SPSS). Telephone and face-to-face interviewing techniques will also be used based on having good and reliable contacts within the companies. Data will also be gathered from electronic sources, books, journal articles; news achieves and interviews to. 5. 3 Data analysis A categorisation approach will be adopted where all data collected are grouped according the topic area best suited for its analysis. This report will examine the financial and operational performance of Sainsbury’s in comparison with its competitors. The use of financial information gathered from secondary research, Sainsbury’s and its competitors (such as audited reports) which are less biased will be used to measure the performance of the business. The financial performance will be evaluated using the following: Ratio analysis, Competitor analysis and Financial statements. The operational performance will be analysed by studying the following: Distribution networks, Product quality, Pricing strategies, Promotion strategies and Store location. The report will use the 4-stage model theory to rate the position of Sainsbury’s operation. This will determine where they fit into the model and how to further develop other aspects of their processes which could act as a support to gaining competitive advantage. Strategic analysis theory will be used to evaluate the strategic position of Sainsbury’s in the supermarket industry. These theories will include: Swot analysis, Pest analysis, Porter’s five forces and Risk analysis. The Sources Sainsbury’s website, Tesco, Asda and Morrison’s website, Textbooks, Journals, The World Wide Web, Databases, Royal Holloway University, News achieves and MINTEL. 6. Proposed chapter headings Chapter 1: Introduction Chapter 2: Background Chapter 3: Literature review Chapter 4: Methodology Chapter 5: Research results and analysis Chapter 6: Conclusion and recommendations References and appendices References Collin Fisher 2007. Researching and Writing a Dissertation: A Guidebook for Business Students. Prentice Hall BBC online Asda creating 7,000 new UK jobs http://news. bbc. co. uk/1/hi/business/7855482. stm Accessed 28/01/2009 Datamonitor, August 2008. Company Spotlight: Sainsbury’s http://web. ebscohost. com/ehost/pdf? id=22&hid=16&sid=fc656bea-c31c-4043-bbc3-82640ca0cf52%40sessionmgr7 www. sainsburys. co. uk Wheelwright, S. and Hayes, R. (1985) Competing through manufacturing in Harvard Business Review, (Jan-Feb), pp. 99-109. Sky News Tesco to create 10,000 new j obs http://news. sky. com/skynews/Home/Business/Tesco-To-Create-10000-Jobs-But-Posts-Poor-Christmas-Sales-Figures/Article/200901215202210. Accessed 20/01/2009 Appendix Timetable of dissertation 30th of January, 2009: proposal deadline February 2009: – week 1-2: collect literature papers – week 3-4: review research methods literature and research strategy March 2009: – week 1-2: design questionnaires forms – week 3-4: examine literature review April 2009: week 1-4: contact company to make appointment schedules – week 3-4: revise the questions of questionnaires May 2009: – week 2-3: formal proceeding with questionnaires – week 4: final collection of questionnaire and analyse of primary data from the case company June 2009: – week 1-4: start writing dissertation – week 1-4: keep refining dissertation writing and start to finalise dissertation write up July 2009: – week 4: start proofreading, finalise dissertation wri te up – week 4: buffer for contingency and start up the plan of dissertation binding August 2009: – week 1: finalise dissertation binding – week 2: preparation for submission deadline

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In low socioeconomic areas there is very poor education, low parental control, and a high gang/violence rate. If you are brought up with only knowing the life of the streets you have a higher percentage of staying there. This is because you are â€Å"born into it†, if you have the ability to go to a high achieving school get good grades and have peers that do the same then obviously you are going to do better. For an example I inserted the graph above if you are born into a higher-class family you are more than likely going to stay there, but if you are born into a lower class family you are more likely to stay there (graph found on You’re Born Into It America sited in the bibliography). There is the example of gang violence, which is an element that thrives in the lower class; it gives power, brotherhood, family and money. Gangs are a large part of what hold some of the brightest people back. In California alone males ranging from 7th-12th grade 50.9% of males were associated with gangs; that was in 2010. Living in a socioeconomically depressed neighborhood makes it hard enough to get out and make it on your own but the fact that there are gangs influencing these minors left and right make it even harder. A great example of someone growing out of a socioeconomically depressed neighborhood is Julian Castro who was the first Latino keynote speaker at the Democratic National Convention. Castro was raised in San Antonio by a single mother who worked her hardest to proved all she could for her two sons. Julian and his brother Joaquà ­n both worked very hard to get out of their depressed area so that they could provide for their mother. They both graduated from high school and were accepted to Stanford, then to Harvard. These to Hispanics made the choice to be hard working and expand their view on living, they knew there was more to life than not having anything. One of the main reasons they were able to do so well is that their mother and grandmother helped them as much as they could. Julian became the first keynote speaker to be a Latino because he wanted to beat the odds; he did not want to end up like the people he saw around him. Another great story is President Barak Obama’s he was born in Hawaii, his father and mother both left him to be brought up by his grandparents. They did not have very much money and Barry had to find his own way to pay for college since no one set that up for him. Obama had a very hard life growing up, working multiple jobs, keeping his grades up, studying for tests and trying to get scholarships so he could go to college. He did it though, and now he is the most important man in the United States and possibly the world. He worked his way out of the life he had as a child and did not want that life for his future children. In president Obama’s speech after the 2012 election he said â€Å"†¦you, the American people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back, and we know in our hearts that for the united states of America, the best is yet to come.† He was speaking of each persons individual journey in this country, you have the choice to grow up and try and your hardest to make a better life for yourself even if your parents are not there all the time. The U.S.’s census bureau reported that around 30% of families in America are being headed by a single parent. These houses may be dysfunctional and â€Å"doomed to failure† (usg.org) but many people that have grown up in a single parent home have had just as much attention as someone that has two parents. In America, 22 million children have a one-parent household, a mother runs 83% of those houses and half of those mothers do not receive any type of child support to help out. Not receiving child support have put 70% of single parent moms in poverty making on average $13,00 annually. Currently there are over 9.8 million mothers as a single parent. Living in that type of poverty is hard to do but plenty of people are able to do it and grow up and become an amazing person with a great future. The people who say that because they live in poverty they are always going to be poor are going to stay there because it takes hard work and dedication to grow out of the socioeconom ically depressed neighborhood you grew up in. In 2000 the National Assessment of Educational Progress found that 90% of 4th grade parents participated in parent-teacher conferences among the 8th grade that number dropped to about 57%. Parents believe that once you are in middle school you can do your homework by yourself because the parents are not helpful since they do not remember it themselves. In elementary school parents are totally involved since everyone is still a â€Å"child† but you do not grow out of adolescence till you are 18 because you are not a legal adult so parents should be helping their children out till they are a senior in high school because that is why you have parents. Many schools do not even reach out to a parent if their child is failing or being suspended, because well they are an adult now. It is said that most children who have a strong parental backing through high school will do better in college. The students who have a parent helping them choose the road they follow 97% of the time make better choices when it comes to drugs, sex and partying in college. In Isanti County only 69% of parents attend conferences while the percent for lower grades is higher. Researchers say its because in elementary schools teachers have on average 20-30 children total while middle and high school teachers have over 120 students so its a lot harder to keep in touch with parents. That is why parents need to stay involved with their child’s education. Your childhood has influences on your outcome in life of course but you can change the out come of your life and make it what ever you want it to be. Being born into poverty does not mean you have to stay there the rest of your life. Parental involvement and personal goals are how you change your outcome. Obama and the Castro twins are perfect depictions of how goals that are met can make you what ever you would like to become. References Barack Obama Biography Facts, Birthday, Life Story Biography.com . (n.d.). Famous Biographies TV Shows Biography.com. Retrieved November 11, 2012, from http://www.biography.com/people/barack-obama-12782369?page=3 Julian Castro Biography Facts, Birthday, Life Story Biography.com. (n.d.). Famous Biographies TV Shows Biography.com. Retrieved November 12, 2012, from http://www.biography.com/people/julian-castro-20967527 2011 National Gang Threat Assessment à ¢Ã¢â€š ¬Ã¢â‚¬Å" Emerging Trends. (n.d.). FBI. Retrieved November 11, 2012, from http://www.fbi.gov/stats-services/publications/2011-national-gang-threat-assessment 774,000 gang members and 27,900 gangs active in the US: Crime News à ¢Ã¢â€š ¬Ã¢â‚¬  Crime in America.Net. (n.d.). Crime in America.Net: Crime, Violent Crime, Criminals, Crime News, Statistics and Research. Retrieved November 11, 2012, from http://crimeinamerica.net/2010/04/01/774000-gang-members-and-27900-gangs-active-in-the-us-crime-news/ Adolescence: Are Parents Relevant to Students High School Achievement and Post-Secondary Attainment? / Browse Our Publications / Publications Resources / HFRP Harvard Family Research Project. (n.d.). HFRP Home / HFRP Harvard Family Research Project. Retrieved November 11, 2012, from http://www.hfrp.org/publications-resources/browse-our-publications/adolescence-are-parents-relevant-to-students-high-school-achievement-and-post-secondary-attainment El ementary, r. U. (n.d.). Reports of Gang Membership, by Gender and Grade Level: 2008-2010 Kidsdata.org . Kidsdata: Data and Resources about the Health of Children . Retrieved November 12, 2012, from http://www.kidsdata.org/data/topic/table/gang-gender.aspx?f=1loc=2,127,347,1763,331,348,336,171,321,345,357,332,324,369,358,362,360,337,327,364,356,217,353,328,354,323,352,320,339,334,365,343,330,367,344,355,366,368,265,349,361,4,273,59,370,326,333,322,3 Helping With Homework. (n.d.). PBS. Retrieved November 12, 2012, from http://www.pbs.org/parents/goingtoschool/helping_homework.html Living With One Parent Vertical Thought | United Church of God. (n.d.). United Church of God. Retrieved November 12, 2012, from http://www.ucg.org/marriage-and-family/living-one-parent/ President ObamaÃÆ' ¢Ãƒâ€šÃ¢â€š ¬Ãƒâ€šÃ¢â€ž ¢s Election Night Speech Video Feature NYTimes.com. (n.d.). The New York Times Breaking News, World News Multimedia. Retrieved November 11, 2012, from http://www.nytimes.com /interactive/2012/11/06/us/politics/06-obama-election-night-speech.html Sias, E. (n.d.). Concerns discussed with low parent-teacher conference attendance in Braham | The Isanti County News. The Isanti County News. Retrieved November 8, 2012, from http://isanticountynews.com/2012/11/20/concerns-discussed-with-low-parent-tea