Question: Please help me solve this problem Question 2: (80 points) Hoa opened her small business 2 years ago, specializing in designing and selling clothing and



Please help me solve this problem
Question 2: (80 points) Hoa opened her small business 2 years ago, specializing in designing and selling clothing and fashion accessories to the youth. Teenagers and people under 25 can easily find nice dresses and clothes for their streetwear or office purposes. Product prices are competitive in the market so that her business can attract a lot of customers who are college students. Hoa offers very good prices by cutting down production costs and using only online advertisements via social media platforms such as Facebook, Instagram and TikTok. There is no physical store but Hoa utilizes online stores via Shopee and Lazada as well. At the beginning, the young generation bought a lot and the revenue increased rapidly. Despite a small market share, Hoa's store has a number of loyal customers who frequently purchase when the store advertises new products. Gradually, the revenue has reached the peak and cannot rise anymore. The cash flow is stable, which is not bad but i cannot help Hoa with a plan to open the first store in district 3 to attract new customers. The situation gets worse when Covid-19 comes back. Revenue drops steeply when there is almost no new order from Shopee or Lazada. Customers have no reason to buy fashion clothing when they have to stay home for months. However, Hoa must maintain and pay for the team of 6, including two fashion designers, two online sales staff, an accountant, and Hoa - the store owner. Hoa is stressful these days because the current revenue cannot cover operation costs and Hoa has to think of laying off a few team members. They all work together since the business has started and if Hoa loses any of them, it will be difficult to find a similar one. Thus, it will be the last choice if she cannot find any better solutions. On the other hand, Hoa observes a fall in motivation from her team members. The sales staff earn no commission while 2 designers and the accountant have almost no task to do. In this situation, Hoa suddenly remember you, her old classmate at International University. At this time, you are working as a business consultant who offers advice and solutions for small businesses. And you are willing to help Hoa overcome this crisis. 1. Identify the current business strategy that Hoa is following? Is that strategy effective at this time? Why? (20 points) 2. Does Hoa's business have any competitive advantages or sustainable competitive advantages? How can these advantages (if yes), help her at this time? (20 points) 3. What are the causes of Hoa's stress? What is your advice to these stressors? (20 points) 4. Based on teamwork and/or motivation theories, identify the issues that challenge Hoa's business at this time? What would she do to tackle these issues? (20 points)Step by Step Solution
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To help Hoa navigate her business challenges lets address each question systematically 1 Identify the current business strategy that Hoa is following Is that strategy effective at this time Why Curren... View full answer
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