StrategyPlay Book Entry
StrategyPlay Book Entry
Identifying Company-Wide Strategy
Thecompany-wide strategy of Renter-A-Center is business expansion.Expansion of business operations is important in improving therevenues of the organization and achieving the interests of variousstakeholders for example, providing high-quality products thatimprove customer satisfaction (Zacks, 2013). The company shouldstrengthen its presence in Canada by franchising Canadian stores. Thefranchise approach can be easily adopted by using ColorTyme, which isa significant subsidiary organization in Canada. Franchising shouldbe done in locations that have attractive customer segment forinstance, Toronto, Manitoba, and Ontario. The expansion enablesRenter-A-Center to leverage on the wide store network so as to entertarget market efficiently and effectively. The company should openmore core stores in the United States. The company should also expandin the global stage by opening more branches in strategic markets(Marketing Case Studies, 2015) for example, London, Paris, Moscow,Saudi Arabia, and Johannesburg.
Evaluating Company-Wide Strategy
Thecompany-wide strategy of business expansion is effective in achievingthe goals of the company. Renter-A-Center aims at boostingshareholder returns by improving net revenues. The business expansionenables the company to sell more products and thus increase therevenues and net profits. Renter-A-Center strives to have millions ofcustomers in the global market. Business expansion strategy canachieve this strategy by opening stores and increasing franchising instrategic markets for example, London, Moscow, Hong Kong, SaudiArabia, Sydney, and New Delhi. The expansion strategy improvesinnovation. Renter-A-Center has developed a superior informationtechnology system that improves communication between variousbusiness stakeholders at the global scale. Information technologyenhances communication between the customers and the company staff(Emily, 2016). The needs and expectations of the customers are,therefore, addresses by the company managers and employees properly.
Emily,K. (2016). How Rent-a-Center uses IT strategically for financialgain. Retrieved from http://searchcio.techtarget.com/news/936553/Rent-a-Center-uses-IT-for-financial-and-strategic-gain
MarketingCase Studies. (2015). Company-wide strategic planning and its foursteps. Retrieved fromhttp://www.study-notes.com/2015/09/strategic-planning-and-its-four-steps.html
Zacks.(2013). Rent-A-Center`s Expansion Strategy. Retrieved from http://finance.yahoo.com/news/rent-centers-expansion-strategy-180845397.html