Business Studies Portfolio - Two Contrasting Businesses
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I think M&M's Tanning Studio has responded very well to their competitors as they have continued to satisfy customers, achieve their aims successfully and have kept up with new products such as a rare nail material (silk dust), which I have personally purchased when I arranged a nail appointment to see how the business performed.
M&M's Tanning Studio seems to cope well with their external influences. They constantly aim to provide a great customer service and keep up with customer tastes and new developments in order to stay competitive. They make careful decisions on loans and overdrafts (interest rates) in order to stay clear of any debt and they recycle any cardboard packaging used to prevent pollution.
My opinion of both businesses:
Both of these businesses I have studied have been very different to each other. Richer Sounds is a very large company and has obviously stayed very successful over the years and has achieved its aims sufficiently in order to expand as large as it has. M&M's Tanning Studio is very small, but also seems to be doing very well at keeping up with customer tastes and achieving its aims. This business hasn't been opened very long and seems to be running quite successfully, so hopefully it will achieve one of its aims and expand. Richer Sounds started off with one store, so in a few years time maybe M&M's Tanning Studio may also expand as rapidly as Richer Sounds.
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