Strategies to sustain businesses summary table

	A	B	C	D	E	F	G	H	I
1	Competitive advantages in general Strategy	Establish	Grow	Reposition	Positives?	Negatives / Constraints?	Impacts on Managers	Impacts on Customers	Impacts on employees
2	Continous improvement	y	y	y	Establish a culture of improving quality	Time and cost, change staff culture	Increased profits, increased customers	Increase satisfaction, encourgae loyalty	Increased training, increased satisfaction, added pressure
3	Offer extended warranties	y	y	y	Customer satisfaction, Customer confidence/loyalty	Cost to the business - product, staff time	Extra workload, extra communication, decreased profitability through increase of wages costs	More reliability, loyalty, word of mouth advertising	More responsibility and duties, extra training, time taken
4	Quality assurance (set of guidelines)
5	Increase use of technology in production		y	y	Decrease costs of production; increase choic/designs; beat competitors; increase quality	increased costs in short term; increased complexity; staff resistance to change	Increased profits in loner term, increase costs of equipment and trainig in short term	Icreased choice, service and lower prices and higher quality	Learn new technologies, increase time and $ to learn, but can increase satisfaction.
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14	Location	Establish	Grow	Reposition	Positives?	Negatives / Constraints?	Impacts on Managers	Impacts on Customers	Impacts on employees
15	Close to parking	y	y	y	Easy for customers	Could be expensive in town		Convenience
16	in CBD		y	y	More customers come past the business	Could be expensive in town		Convenience; more likely to find store when walking by	Need to find a park in town; more expensive; could use public transport
17	Size of premises	y	y	y	space suited to business	restricted to suburbs or industrial areas		Need to go to suburb; easier and cheaper parking	Might need to travel far to work; better working conditions
18	Proxomity to supplier	y	y	y	Less froeight costs; easier access to advice; quicker order time	Costly if in CBD
19	Proximity to customers	y	y	y
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22	Ownership	Establish	Grow	Reposition	Positives?	Negatives / Constraints?	Impacts on Managers	Impacts on Customers	Impacts on employees
23	Need for capital		y	y	Access to more money to start business;limited liability	More expensive to set up a company
24	Desire for to be own boss	y			Follow passion ,own destiny; get all profits	Less access to capital; unlimited liability
25	Need for extra skills from a partner	y	y		Complement skills; need for employees reduced
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28	Starting a business from scratch	Establish	Grow	Reposition	Positives?	Negatives / Constraints?	Impacts on Managers	Impacts on Customers	Impacts on employees
29	Starting a business from scratch	y			has freedom to follow a passion/ dream; fill a market need; provide employment; add to wealth to owners and community	High risk phase when starting a business; risk of failure; cash flow problems; Time needed to develop a customer base	Increase wealth; slow to generate a profit	More choice of goods and services	Inconsistent work load; learning new job; pressure to preform in first year;
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33	Buying an existing business Strategy	Establish	Grow	Reposition	Positives?	Negatives / Constraints?	Impact on Managers	Impact on Customers	Impact on Employees
34		y	y	y	Existing customer base
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39	Countering a high Australian Dollar	Establish	Grow	Reposition	Positives?	Negatives / Constraints?	Impact on Managers	Impact on Customers	Impact on Employees
40	Buy goods from overseas , order online	y	y	y	Cheaper to import goods as imports are cheaper	Less ordes for Australain Businesses	downsizing number of employees	Cheaper goods and services to buy	Less jobs for locals
41	Outsource jobs to South East Asia, or to set up operation overseas	y	y	y	Cheaper; cut costs to wages and other services			Cheaper goods and services to buy	Less jobs for locals
42	Marketing to overseas markets	y	y	y	Increase sales
43	Market to local customers, Buy Australian	y	y	y
44	Differentiating products by being more creative and innovative in product design and service.	y	y	y
45	Hire foreign workers at lower wage costs	y	y	y
46	Use of social media marketing techniques	y	y	y
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