ECO600 ICMS 1 Individual report questions: producing a consultant’s report for an Australian business (35%) Instructions 1. Choose one (1) existing small- or medium-sized Australian business with an...

ECO600
ICMS
1

Individual report questions: producing a consultant’s report for an Australian business (35%)

Instructions

1. Choose one (1) existing small- or medium-sized Australian business with an outlet in Sydney or Manly. Select
one which might have a website, in case you cannot visit the physical store

2. Some examples: pharmacies (Chemist Warehouse, Priceline Pharmacy), restaurants (Chat Thai Restaurant,
Fish Bowl poke bowl outlet), pizzerias (a Domino’s outlet, I Love Pizza), ice cream shops (Ben and Je
y’s, Royal
Copenhagen Manly), cafes (Gloria Jean’s, Sta
ucks), bars (Manly Wharf Bar, 4 Pines Manly), convenience
stores (7-Eleven), gyms (Anytime Fitness, Plus Fitness), a small hotel (The Sebel Manly, The Novotel), and so on

3. As a group, collect or note down data on:

(i) where the business is located and what other similar businesses are nea
y (is there a lot of competition?)
(ii) how its store/premise looks like (if possible), and what kind of customers/clients they get (if possible)
(iii) what services or products they offer (e.g., from their menus or based on what is on their store shelves)
(iv) what their prices are and what non-price methods they use (promotions, packaging, service quality etc.)
(v) their cost elements (how many staff they have, the rental cost of their premises, raw
material/supplie
shipping/delivery/other costs)
(vi) what they might be doing to make themselves competitive or attractive to customers

4. As an individual student, use that information to analyse that business as a consultant hired to:

(i) improve its cost situation (Week 3’s topic)
(ii) propose strategies to make that business more competitive and able to survive for the long-term (Week 5’s
topic, and if you want, Week 4’s exercise sheet’s ‘Application’ question no. 8 to guide your thinking)
(iii) propose strategies to enable it to grow/expand (Week 6’s topic)
(iv) propose pricing and non-pricing strategies for its services or products (Week 6’s topic)

5. Collect the data either online or from visits to the stores (if you cannot visit the stores, it is OK – use whatever
information you can from the Internet). (Optional/not necessary: you may email the business’s manage
owner
for more information – attach my letter here if you do). Share data collected with all group members. You can
do this by storing the information you gathered on a MS Word document, then share it with your group
members by email, Microsoft One Drive file sharing, Dropbox file sharing, or any other shared space. Aim to
complete this task by end of Week 8

6. You will be allocated time to communicate and discuss your work with your group members during your
Zoom online class (through the ‘Breakout Room’ function). Additionally, each group can organise their own
Zoom online meetings, at your own agreed times, to complete the goal in point no. 5 above. Make sure all
group members are in contact with each other (e.g., via Whatsapp group, the ‘Dialogue’ function at the top of
your Moodle page – you can message each other there, or email)

7. Once you have the data, address point no. 4 above in an individually-written report. Although the chosen
usiness may be the same, each team member will use their own words propose their own ideas. Your final
product will be an individual effort. Each person is required to submit one MS Word report

8. Submit your report at Moodle > Assessments > Research Report (35%) – Week 11 > Research report
submission [lecturer’s name]

9. Due by 11:59 pm, Sunday, Week 11

10. Keep the report simple, straight to the point and
ief. Do not feel stressed thinking that it must be long,
complicated or technical. No, it does not have to be that way at all. Follow the detailed questions below as your
guide. Be creative but realistic about how you can improve your chosen business. Have fun writing it
Report format
https:
www.chemistwarehouse.com.au
https:
www.priceline.com.au
https:
www.chatthai.com.au
https:
www.fishbowlbondi.com.au
https:
www.fishbowlbondi.com.au
https:
i-love-pizza.com.au
https:
www.benandje
y.com.au/manly
http:
cicecream.com.au/ice-cream-shop-in-manly-beach-nsw
http:
cicecream.com.au/ice-cream-shop-in-manly-beach-nsw
https:
gloriajeanscoffees.com.au
https:
www.sta
ucks.com.au/Home.php
https:
www.wharfbar.com.au
https:
4pinesbeer.com.au/our-venue
ewpub-manly-
ewery
https:
www.7eleven.com.au
https:
www.anytimefitness.com.au
https:
www.plusfitness.com.au
https:
www.thesebelmanlybeach.com.au
https:
www.novotelmanlypacific.com.au
https:
lms.icms.edu.au/pluginfile.php/244264/mod_resource/content/7/ECO600%20-%20Student%20survey%20for%20report.pdf
https:
www.dropbox.com
asic
ECO600
ICMS
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1. Font: Cali
i or Arial → Font size: 12 → Line spacing: 1.15 → Insert page numbers at the bottom of your
pages → write in paragraphs, and insert one line of spacing between your paragraphs → you can insert any
elevant images or tables or diagrams if you wish, but give them captions → no table of contents or appendices
needed → attach electronic student declaration form at the front of your report before you submit it

2. Divide report into sections:

1. Introduction
2. Cost-saving proposals
3. Competitive strategy proposals
4. Growth, pricing and non-pricing proposals
5. Conclusion
[No reference or appendix section needed]
3. Word count: 2,500 words (lower limit 2,000 words, upper limit 3,000 words – the main thing is to address the
equirements of the assignment: point no. 4 under ‘Instructions’, and the detailed questions provided below)

4. See ‘Sample report’ at the end of this document to learn how your report should look like


Detailed questions
Use the detailed questions below to write your report. They expand on point no. 4 in the ‘Instructions’ earlier


Q1: Cost-saving proposals | Week 3 | 600 words (max. 200 words per proposal)

You have a rough idea about how the business operates and what kind of fixed and variable costs
etc. it has.

➔ Recognising these cost elements of this business, or a typical business like this, propose
ways it can cleverly save costs (be more cost-efficient) by:

(i) reducing fixed cost

(ii) reducing variable cost

(iii) cost-shifting (passing on/sharing part of the costs onto customers, workers, the
government, the public in general etc.)

(iv) aiming to achieve better economies of scale (or, if you like, economies of scope)

➔ Propose three cost-saving ideas using any of (i) to (iv). E.g.: two of (i) and one of (ii).
➔ Discuss them: why you proposed it, why it is a good idea, what challenges might there be to
implement them (if any).











https:
www.investopedia.com/terms/e/economiesofscope.asp
ECO600
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Q2: Competitive strategy proposals |Week 5 | 600 words (max. 200 word per proposal)

What competitive strategy can your chosen business use to gain an advantage in sales over its rivals
(any other similar businesses nea
y)?

➔ Use the competitive strategies frameworks you learn in Week 4 to propose ways the
usiness could become more competitive:

(i) the five generic competitive strategies
Week 4, Reading #2

(ii) the 4Cs (contrast, combination, constraint, context)
Week 4, Reading #3

(iii) the 4Qs (questions: 1. Is your business relevant? Can you make it more relevant/offer
eal or essential or higher consumer needs? 2. Are customers dependent on you or not?
How to make them more dependent? 3. Do customers prefer us to our competitors? How to
make them prefer us? 4. Are we excellent at something? How do we become excellent
compared to rivals?)
Week 4, Reading #4

(iv) six ways to differentiate yourself (product, service, channel, relationship etc.)
See tinyurl.com/6differentiate
➔ Propose three ideas using any of (i) to (iv). E.g.: (ii), (ii) again, and (iv).
➔ Discuss them: why you proposed it, why it is a good idea, what challenges might there be to
implement them (if any).


Q3: Growth, pricing and non-pricing proposals | Week 6 | 800 words (max. 200 words per
proposal)

How can the business expand its customer or market base?

➔ Use the growth frameworks you learnt in Week 5. Propose ways to grow the business using:

(i) organic (or internal), horizonal (or external) and vertical growth strategies
Week 6, Reading #2

(ii) the 6Ns (new processes, new experiences, new features, new customers, new offerings,
new models)
Week 6, Reading #3

(ii) a pricing strategy (e.g.: penetration pricing, anchor pricing, buy-one-get-one-free)
or non-pricing strategy (e.g.: promotions, design, packaging, quality of service, location)
Week 6, Reading #4b

➔ Propose two growth strategies using any of (i) and (ii).
E.g.: (i) organic growth, and (ii) new processes, or (i) new features and (ii) new offerings
➔ Propose two pricing and non-pricing strategies
E.g.: (i) pricing strategy and (ii) non-pricing strategy, or (i) non-pricing strategy, (ii) another non-pricing strategy
➔ Discuss them: why you proposed it, why it is a good idea, what challenges might there be to
implement them (if any).
https:
tinyurl.com/6differentiate
ECO600
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Sample report
The sample report below shows you how you can structure your report.

Here is a summary of how many words you might like to write for each section:

1. Introduction (250 words)
2. Cost-saving proposals (600 words)
3. Competitive strategy proposals (600 words)
4. Growth, pricing and non-pricing proposals (800 words)
5. Conclusion (250 words)

Total: 2,500 words. This is only a rough guide. Some sections can be longer or shorter than what is suggested
above (e.g.: Section 2 is 500 words, Section 4 is 750 words, or Section 3 is 620 words). Your introduction and
conclusion may also be shorter.