Order type: Coursework
You have just taken part in Alan Sugar?s The Apprentice selection process and have won. Alan Sugar has decided to expand his business interest to include the entertainment sector and believes that there is an opportunity to take over the failing retail organisation HMV. He wants you to lead this business venture and turn this failing business around, but at the moment he does not expect to make a profit.
HMV has 235 shops and approximately 4500 employees.
It is an investor partner in 7digital, which provides the content for hmv.com’s MP3 store containing millions of tracks for download. In HMV overall, music is approximately a quarter of what they sell, with the remainder of sales comprising games, DVD/Blu-ray, technology and other related entertainment products, including clothing and books.
HMV?s live music venues and summer festivals attract over 2 million concert-goers each year. These include the 5,100-capacity Hammersmith Apollo, Edinburgh?s Picture House, Birmingham?s Institute and Forum in London, all of which are branded as HMV. The further venues include Heaven, Garage, Jazz Caf?, Borderline, G-A-Y (London and Manchester) and G-A-Y Late. HMV expects to increase the number of venues owned. Their summer music festivals include Lovebox, Godskitchen, Global Gathering and the Great Escape. HMV Tickets sells tickets though stores and hmv.com to events at our own venues and festivals, as well as a wide range of third-party events.
1. Reduce the number of shops by 50% and restructure the workforce accordingly taking into account the popularity of digital downloads.
2. Produce a project management plan for turning the business around.
3. Produce a realistic budget that covers the restructuring process.