Business Organization

Business Organization

Introduction

The concept of high street is centuries old in the United Kingdom. The word 'high' has meant to be 'main' or 'prime' in the English literature. Thus, high street has been considered as a place of main activities or attraction in a town, suburb or even city. The business of 'high street' always resulted in the positive business prospect of the region. The concept of retailing has been part of the British culture to an extent that it is known as a 'nation of shoppers and shopkeepers'. It is considered as part of the identity and psyche.

The advent of new technologies has badly affected the concept of high street retailing. It was considered to be an important part of the British life. However, online shopping facilities and the arrival of e-markets have led to change in the behaviour of consumers (Lewis, 2013, pp.5). The economic recession further accelerated the rate at which the high street outlets were closing down. High unemployment rates, inflation and the overall economic instability badly affected the consumer market of high street outlets. The severity of this issue has been realized by the Government and business associations, who thrive to keep this concept alive and well going. These regulatory bodies and business groups have worked on various reports to develop and implement solutions that can revive the concept of high street.

Discussion

The poor performance of many high street outlets after the economic recession has become a reason of content for many major retailers. In order to stay in business and get successful, they are now rethinking their organizational and business strategy. The horizon of competition has broadened and in order to survive, the high street outlets need to be proactive in strategy making and implementation. One such company, which wants to increase the high street market, is WH Smith.

WH Smith

WH Smith PLC is one of the biggest retailers in selling newspapers, entertainment products, Magazines, books, stationery and other products. Its business is focused on two markets which are- high street and travel (WH Smith Plc, 2013, pp. nd). The high street stores are located in almost all major cities and towns. The high street business aims at becoming the most popular stationer, book seller, and newsagent. The travel business focuses on establishing itself on airports, motorways, railway stations, and other places related to frequent traffic.

The history WH Smith goes back to the end of the eighteenth century. In 1792, Henry Smith and his wife Anna opened their first newsvendor in London. This venture was handled by Anna until her death in 1816 after which their sons, Henry and William took over the business. The business was later handled completely by William and his family, which named the company as 'WH Smith & sons'. By 1850, the company had become well known as a newspaper distributer company and had also opened bookstalls. In 1903, the first overseas branch was opened in Paris. The period of 1910-1950 saw two important aspects of the ...