Why are Key Resources Important for Super Markets?
By *Ameen Ahsan Strategy Consulting*
Each one of us has had the opportunity to shop at Super markets which sell varied goods ranging from food products, home furnishings, toiletries, consumer durables, electronics etc. There has been an uptrend in the super markets with many chains been opened by single players across locations.
The best attractive feature that make consumers shop at supermarkets is the fact that they get all typical household and durables under one umbrella. Also the option to choose from the store shelf from a wide range of brands is another attractive factor of super markets.
Competition amongst supermarket players has been fierce in metro cities and towns. Large layers with multiple chains across cities are able to tap economies of scale due to their huge volumes and sizes.
A super market should ensure that it has invested well in its key resources and that its key resources support its prime motive. Key Resources are the building blocks that describe the most important assets needed to make a business model work. Every business model requires it, and it is through them that the companies generate value and revenues.
Key resources deal with the operational end of the business spectrum and define what kind of materials you need, what kind of equipment is required and the types of people you need to employ. This aspect plays a direct role in bringing your value proposition to life for your chosen customer segment and defines the minimum you need to have to deliver to your customers.
Key resources are directly relevant to the number and type of key activities your company engages in. Ultimately, the quality of your key resources will impact the sustainability and profitability of your company.
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