Signet Jewelers Case Study Solution
Recommendation
The company should adopt the alternative one i.e. adoption of advanced technology which will enable the company to achieve the other two alternatives as well. The adoption of cutting edge technology will assist the company in designing innovative jewelries,which will reduce the cost of operation for the company by eliminating high salaries paid to the specialized jewelry crafter. Furthermore, online retailing through adoption of technologically advanced customized channel will assist the company in reducing the number of stores,which will eventually decrease the overall costs for the company. Hence, adoption of advanced technology will enable the company to maintain the stable prices for the customers in an environment of increasing precious metal prices, which will assist the company in boosting sales.
Programs Tracking Metrics
In the intermediate tracking metric; the company will determine that the implication of alternative is assisting the company in increasing revenue streams or not. The inclining revenue and earnings will provide an indication that the company is on a right track and strategies implemented by the company are affecting positively to the growth of the company.(George( Tweneboah, 2018).
In conclusive metrics it will be identified that whether the company is able to maintain the prices after the implementation or not, and whether the customers are engaged in purchasing the innovative jewelry or not. Hence, enhancement in earnings and customer growth will identify that the strategies are implemented correctly.
Conclusion
Critical analyzation of the Signet Jewelers enables to identify the challenging problems which the company is exposed to, and assists in identifying the solutions which can help the company to cope up with the challenging situation and overcome those challenges. Moreover, through critical analysis;operational and business activities of the company are analyzed, which assist in decision making process about how to enhance the company’s revenues and earnings.......
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