Reference no: EM133540019

Background of Local Books Bookstore Pty Ltd Local Books Bookstore is a local (fictitious) bookshop that is located in a suburban shopping centre in your town. Over the last three years it has seen its profits and sales drop drastically. This year it is very likely the business will end up making a significant loss. If things don't turnaround the owners will have to sell or declare themselves bankrupt in the coming 6 to 12 months. Local Books Bookstore has 3 full-time staff and 5 casual staff. They only operate one store that sells a general selection of popular books. Given the current costs of running their business they are unable to compete on price with online booksellers. They believe that many people come to their store, find a book they like and then order it online. The only marketing the business does is paid advertisements in the local newspaper and it issues a catalogue of new books once a month. This catalogue is posted out to customers who request it. They do have a simple website but it only states the store location and trading hour.

You will be assigned into teams by your facilitator and you will be asked to complete the business idea generation project together with your team members.

• In your teams you need to come up with a plausible idea for this business that will help them turnaround their business from potential failure to success.

• Your best ideas to turnaround the business should consider the following:

o the ideas could involve changes to products, services, marketing, systems or processes;

o your ideas need to be original and creative, but also be capable of being implemented;

o additionally your ideas must be able to make or save the company money.