Ace Superstore, a retail grocery outlet in Soweto, has seen substantial growth in revenue and profit over the past year. As a result of this growth, the board have voted to expand operations by opening a branch in the East Rand. As a member of the board and of management, you have the task of researching the viability of this move, considering every aspect of the environment and how this will benefit the brand. The brand sells affordable, but clean and healthy food to lower- and middle-class families. Because of this growth, you are already competing with retailers such as Pick n Pay, Shoprite and Checker, in both your pricing and the promotions that you run. Looking at various aspects and concepts in retail management, answer the following questions to show your knowledge and expertise.

According to worldbank.org (2012), stakeholder analysis is a "methodology used to facilitate institutional and policy reform processes by accounting for and often incorporating the needs of those who have a "stake" or an interest in the reforms under consideration." Using this definition as a starting point, evaluate each step of a stakeholder analysis by illustrating how knowing your various stakeholders may impact the success of the new store.

Answer rating: 100% (QA)

Stakeholder analysis is a crucial tool in assessing the potential success of a new store expansion It involves identifying prioritizing and understanding the needs and interests of all relevant stakeh... View the full answer