Premium Essay

Rent-a-Center Business Strategy

In: Business and Management

Submitted By chengkai0509
Words 508
Pages 3
Business Strategy Analysis
Background/History
Rent-A-Center is the largest chain of rent-to-own stores in the United States, which accounts for approximate 32 percent of market share based on store count. In 1963, J. Ernest Talley firstly established a rental store named Mr. T’s Rental and started his rent-to-own business. During a long period time, Mr. T’s Rental had rented washers and dryers to its customers. In 1973, Tom Devlin, a former employee in Mr. T’s Rental, established Rent-A-Center in Wichita, Kansas. He started his business with a single rent-to-own store, and then established a Rent-A-Center chain which had both company-owned stores and franchisees. In 1986, one former employee of Rent-A-Center, Mr. Speese, started his own business known as Vista Rent-To-Own, which was the predecessor of the current Rent-A-Center. Vista Rent-To-Own was invested by DEF Investment, Inc and was changed name to be Renters Choice, Inc in 1993. In order to find further growth, Talley took Renters Choice public on the NASDAQ stock exchange in 1995. Then, Renters Choice started a rapid merges and expansion. In 1998, Renter Choice started using “Rent-A-Center” brand to operate all of its stores.
Strategy Analysis
In order to keep continue growth and a leader position in the rent-to-own industry, Rent-A-Center focuses on follow strategies: * Enhancing the Operations, Revenue and Profitability of store locations
Because Rent-A-Center operates a great many rent-to-own stores, improving stores’ performance could be an effective strategy. Managers should pay more attention to operational efficiencies and customers’ in-store experience to improve stores’ performance. To access this strategy, Rent-A-Center can get financial information such as revenue, net income, and total assets from financial statement, and then calculate index such as Profit Margin and ROA to compare with…...

Similar Documents

Premium Essay

Business Plan for Fitness Center

...SAMPLE BUSINESS PLAN FITNESS PLUS, INC Disclaimer: This is a sample business plan, so the company and business information are fictitious. This plan reflects our standard business plan model, and changes in outline and structure can be made as per client specifications. Contents EXECUTIVE SUMMARY.......................................................................................................................4 GENERAL COMPANY DESCRIPTION....................................................................................................6 1.1 COMPANY OVERVIEW:......................................................................................................................6 1.2 MISSION AND VISION:.....................................................................................................................6 1.3 STRENGTHS AND CORE COMPETENCIES:..................................................................................................6 1.4 CHALLENGES:..............................................................................................................................6 INDUSTRY ANALYSIS.........................................................................................................................7 SERVICES OVERVIEW.........................................................................................................................9 3.1 SERVICES:............................................................................................

Words: 5727 - Pages: 23

Premium Essay

Business Strategy

...Managing Strategy 1 Amazon STRATEGIC ANALYSIS OF AMAZON Submitted for: MBA IN MS (MANAGING STRATEGY) TUTOR: PAUL ANDERSON SUBMITTED BY: C0411672 Managing Strategy 2 Amazon CONTENTS Title..................................................................01 Contents....................................................... 02 Introduction.................................................03 Section 1 Current strategic position......................04 Macro environment.................................... 04 Micro environment......................................07 Strategic Capabilities................................10 Section 2 Current and Future strategy..................13 Bowman’s strategy clock.........................13 Section 3 Implementation issues............................... 16 Cultural web................................................16 Kotters 8 step theory................................18 Conclusion....................................................21 Reference list..............................................22 Appendix..........................................................30 Managing Strategy 3 Amazon INTRODUCTION Amazon is an e-commerce platform based organisation established in 1995 by Jeffrey P. Bezos. Amazon.com is based in Washington, United States. Amazon is recognised as customer centric e-commerce organisation giving wide varieties, low price offers and convenience to its customers by offering services......

Words: 5866 - Pages: 24

Premium Essay

Business Strategy

...CHAPTER 5 – BUSINESS LEVEL STRATEGY Business level strategy – an action plan the firm develops to describe how it will compete in its chosen industy or market segment – how it will compete on a day to day basis – purpose is to create value for target customers in an area more than anyone else, most effective when everyone understands it (clear, specific statement of value) and it is implemented with zeal and efficiency. It is a function of the basic of competitive advantage (in cost or performance characteristics/uniqueness) and competitive scope (breadth of target market it wishes to serve) Types: 1. Cost leadership – broad, large share of market segment – action plan to produce goods/services at the lowest cost, standardized products appeal to the “average” consumer – must keep primary and support activities such as production, distribution, service costs low a. usually firms have well established economies of scale – continuously improving efficiencies in operations etc. to drive costs lower and lower – difficult for potential entrants b. Also usually have strong engineering skills, efficient manufacturing processes, access to cheap RMs, and performance evaluation systems that reward employees based on quantity of output c. Outperforming in the value-chain d. Low profit margins – often difficult to compete on the basis of price e. Careful of the bargaining power of buyers (buy a large amount of output) and suppliers (supply a......

Words: 2603 - Pages: 11

Premium Essay

Business Strategy

...Business Strategy April 2012 Wal-Mart Stores Inc. in 2008 Introduction: Wal-Mart has become the number one retail store in both the United States and the World. Wal-Mart’s success started with the foundation and principals set forth by the company’s creator Sam Walton who believed that his store could be the low cost leader by scrutinizing its value chain to deliver the lowest priced items to its consumers, ultimately increasing sales and providing strong revenue. As one can see Sam Walton was right in his ideas resulting in profits of $374.5 billion in 2008 with Wal-Mart following Sam Walton’s strategy as a guide for the company. In the following paper the strategies of Sam Walton and Wal-Mart will be analyzed in depth. The paper will start by presenting the current issues at Wal-Mart including their current mission statement, current objectives, and current strategy. The paper continues with a further breakdown of the strategy using Porters 5 Forces Model, a SWOT analysis and financial analysis to evaluate the strategy’s efficiency and effectiveness. The paper the continues with what this writer has determined to be the key elements of Wal-Mart’s strategy that have resulted in their current market position and what they must to do remain at the top of the retail industry. The paper concludes with alternative strategic options for Wal-Mart and this writers recommended strategy for Wal-Mart. Current Issues: The current issues Wal-Mart faces can be gleaned from the......

Words: 4570 - Pages: 19

Premium Essay

Business Plan Imaging Center

...Emad Hafiz Business Plan “Clarity Diagnostic Imaging Centers” 2267 West Medical Parkway Suite # 111 Chicago, IL 60610 Clarity Diagnostic Imaging Centers 2267 West Medical Parkway Suite # 111 Chicago, IL 60610 February 20th 2013 Dr. John Stockton 3329 Airfield Lane Miami, Florida 44342 Dear Dr. Stockton: My name is Emad Hafiz and I am the CEO of Clarity Diagnostic Imaging Centers (CDIC). From one physician to another I am confident that you too see the changes in demand in the last decade in diagnostic imaging services in outpatient and inpatient procedures. This demand is exceeding our supply of diagnostic imaging capabilities and the demand will only rise as more of the population is requiring medical attention than ever. I would like to personally extend an invitation to come in and visit our franchise model diagnostic medical imaging center that we have setup in Chicago, Illinois. This standard imaging center model is a very easy setup, with a guaranteed net income of approximately $150-200k depending on the geographical location and demand of the center. With initial startup investment costs as low as $300k (includes a onetime $100k franchising fee, royalty fee, setup fee and operations support) your investment is very well protected and return in seen within 2 years. Generating a stable income in the healthcare field, possibly close to your own practice and helping patients increase their quality of......

Words: 4542 - Pages: 19

Premium Essay

Rent-a-Car Business in Vietnam

...nt ------------------------------------------------- Enterprise Rent a car: Green Taxi ------------------------------------------------- Enterprise Rent a car: Green Taxi Student: Nguyen Phuong Duc Class: FB3A Lecturer: Nguyen Thu Thuy Student: Nguyen Phuong Duc Class: FB3A Lecturer: Nguyen Thu Thuy Student name: Nguyễn Phương Đức Class: FB3-A Enterprise Rent A Car – Green Taxi Table of Contents I. Enterprise Introduction........... . .... ........ 2 II. Enterprise Analysis3 1. SWOT 2. PEST 3. 5 Forces III. Market Penetration Strategy7 IV. Human Resource Plan12 V. Marketing Plan19 VI. Financial Plan22 VII. Conclusion2 I. Executive Introduction. Green Taxi is a Vietnam based company, whose mission is to provide reliable, timely, environment protective and safe taxi services by using modern electric car for providing services. The company will establish its presence in the industry by attack in a new way of service providing, the first time presence in Vietnam – EV taxi (Electric vehicle). Green Taxi will provide complete taxi services using the latest equipment and technology to facilitate the travel of individuals in and around Danang and Hanoi. The company's products and services show that we are an innovative, forward thinking company that recognizes the need to move......

Words: 4354 - Pages: 18

Premium Essay

Business Strategy

... Strategy Recommendation: Miami Children’s Hospital Web Use Lindsay Peek Capella University Introduction The Internet is a tool that over the years has became an asset for business and the common population. As the years have progressed people have become dependent on the Internet, we see that with the addiction to phones and social media. Businesses are noticing this and using this to their advantage. We see this in the rise in online shopping for many stores and also with the use of social media for local business. Local businesses are able to expand their client base with just a simple “like” from a consumer and “sharing “ of a page to other friends. In order for businesses to keep up with the ever-changing need of Internet they must tailor their use of the Internet to benefit the consumer. Identify the Business and It’s Industry The business that I will be analyzing their use of the Internet is Miami Children’s Hospital. The hospital is a very well known children’s hospital in South Florida and they have a strong reputation for cutting edge ideas for treatment plans for children. They are known most for the work they do with children’s cancer and heart disease. The company has been established in Miami for 64 years and has expanded into the tri-county areas. The counties that have outpatient centers are located in are Miami- Dade County, Broward County, and Palm Beach County. The expansions have been successful because of the reputation that Miami Children’s Hospital...

Words: 1673 - Pages: 7

Premium Essay

Business Strategy

...analysis using the data in Exhibit 2. How do the results reflect different strategies pursued by the 4 firms? 2. What do the results say about how firms in this industry can deliver strong financial returns in different ways? 2. What are the key sources of Trader Joe’s competitive advantage? 3. What are the main threats to Trader Joe’s competitive advantage? Is their advantage sustainable? 4. How would you modify Trader Joe’s strategy moving forward? What are the key sources of Trader Joe’s competitive advantage? Trader Joe’s Competitive Advantage Their competitive advantage stems not from this “less is more” approach to strategy but from how they execute it. Dan Bane explained, “It’s kind of a loose-tight company. We’re very controlling and tight about cost structure and processes; we’re very loose about how we want the stores to run. We just try to do a good job of what we do, trying to find the next Charles Shaw and trying to keep our hustling going on the buying side.”8 He noted that they don’t carry products like flour, toilet paper, or Coke because these are commodities for which Trader Joe’s can’t get a better price or offer unique value. Bane also acknowledged that by routinely turning over 20 percent of their slower-moving products, customers sometimes were upset and he frequently received letters asking why a favorite product had been discontinued. To execute their strategy, Trader Joe’s relies on seven core values that Bane......

Words: 1679 - Pages: 7

Premium Essay

Business Strategy

...Business Strategies   Table of Contents Introduction 2 LO 1 The process of strategic planning 2 1.1 Strategic contexts and terminology 2 1.2 The issues involved in strategic planning 3 1.3 Different planning techniques 4 LO 2 Formulating a new strategy 4 2.1 The organizational audit for TNT 5 2.2 Environmental audit for TNT 6 2.3 Significance of stakeholder analysis 7 LO 3 Approaches to strategy evaluation and selection 8 3.1 Alternative strategies relating to substantive growth, limited growth or retrenchment 8 3.2 Appropriate future strategy for the TNT 9 LO 4 Implementing a chosen strategy 10 4.1 Roles and responsibilities for strategy implementation 10 4.2 Resource requirements to implement a new strategy 11 4.3 monitoring strategies 11 Conclusion 12 References 13 Introduction Policy is primary in commerce since it achieves the objective that a companionship wants to attain. So, strategic organization squad (STM) needs to be intelligent to go from beginning to end them speedily and efficiently. The draw near that is designed helps competition to doubt their strategy. One simple illustration of a football pastime devoid of strategies can clear the concept. not a soul knows what should be done. Business organizations having no or lame strategies face the identical involvedness. It is also significant to a business to have some type of base plan for any business that affects its income, operating cost and profits. It......

Words: 3350 - Pages: 14

Premium Essay

Business Strategy

...FIRST PAGES Part One Overview of Strategic Management The first chapter of this book introduces strategic management, the set of decisions and actions that result in the design and activation of strategies to achieve the objectives of an organization. The chapter provides an overview of the nature, benefits, and terminology of and the need for strategic management. Subsequent chapters provide greater detail. The first major section of Chapter 1, “The Nature and Value of Strategic Management,” emphasizes the practical value and benefits of strategic management for a firm. It also distinguishes between a firm’s strategic decisions and its other planning tasks. The section stresses the key point that strategic management activities are undertaken at three levels: corporate, business, and functional. The distinctive characteristics of strategic decision making at each of these levels affect the impact of activities at these levels on company operations. Other topics dealt with in this section are the value of formality in strategic management and the alignment of strategy makers in strategy formulation and implementation. The section concludes with a review of the planning research on business, which demonstrates that the use of strategic management processes yields financial and behavioral benefits that justify their costs. The second major section of Chapter 1 presents a model of the strategic management process. The model, which will serve as an outline......

Words: 9310 - Pages: 38

Premium Essay

Business Strategy

...Formulating a Feasible Business Strategy to Start the Business in the Home Entertainment Industry A business opportunity has inspired me to start my own business in the home entertainment industry. The business in the industry will be performed by globally selling DVD and CD products, which can be described as physical containers of entertainment elements from film, music and game studios. For acquiring information of the opportunities and possibilities of the business for me, who acts as an entrepreneur, relevant business strategy will be made as the following assignment. 1. Definition of the concept of business strategy. The concept of business strategy will be defined as the points below. 1) To define the concept of business strategy, initially, the definition of strategy will be given. Strategy is the determination of long term goals and course of action on achieving these goals. (Business Strategy 2004) As it has defined, it is a designation of plans for action to achieve a particular goal. Similarly, for a company, it is a particular business goal. 2) One of the most important elements in the business strategy is their objectives. However, before making the objectives, the mission should firstly be set. From this point, business mission is to provide information on the character of a company and what business a company is doing. When the setup of the mission is done, there will be an inspection of the objectives. There are......

Words: 3004 - Pages: 13

Premium Essay

Business Strategy

...business strategy Individual Assignment Table content Content Page number Acknowledgement……………………………………………………………….……………1 Executive summary ……………………………………………...………………………..…..2 Introduction 4 Task 01 – Report 6 (LO 1.1) Strategic context 6 (LO2.3) Stakeholder analyzing 9 (LO2.1) Organizational audit 11 Porter’s Value Chain for Coca Cola Company 11 VRIO Framework 14 (LO 2.2) Environmental audit 16 PEST analysis 16 Porter’s five forces analysis 18 SWOT analysis for Coca Cola Company 20 (LO1.3) Different planning techniques 22 Product life cycle 24 BCG Matrix 25 GE Matrix 26 (LO1.2) Criticisms of strategic planning 27 (LO 3.1) Ansoff’s Growth Strategies 29 (LO3.2) Future strategy for the Coca Cola Company 33 (LO4.1) Roles and responsibilities for strategy implementation 34 (LO4.2) Resources requirements for new strategy (Water purification system) 36 (LO4.3) Time scale to monitor the strategy 37 Conclusion 38 References 39 List of Figures IV. IV. Figure Page Number Figure 01 – Stakeholder analyzing 9 Figure 02 - Porter’s Value Chain 11 Figure 03 - VRIO framework 15 Figure 04 - PEST analysis 16 Figure 05 - Porter’s five forces analysis 19 Figure 06 - BCG Matrix 25 Figure 07 - GE Matrix 26 Figure 08 - Ansoff’s Growth Strategies 29 Figure 09 - Ansoff’s Growth Strategies for Coca Cola 32 Figure 10 - Time scale……………………………………………………………………......37 Introduction In this assignment describe the strategies......

Words: 8189 - Pages: 33

Premium Essay

Women's Business Center

...Women’s Business Center Group Members: Angelia Romero Chancelor Lowe Table of Contents * * Cover Page Table of Contents…….pg 2 * Summary…….pg 4 * Center for Women’s Business Research Urges SBA to Revise Its Federal Contracting Plan for Women Business Owners…….pg 5 * Study reveals economic impact of Northeast Florida’s women business owners…….pg 8 * Supporting Women Entrepreneurs at Every Step…….pg 11 * Message from the Director…….pg 12 * Businesses Owned by Women of Color Growing Faster Than All U.S Firms…….pg 13 * Sponsorship Benefits…….pg 16 * DR. Sharon Hadary Discusses Changes for Women- Owned Firms…….pg 19 * Women Own 20% of $1 Million Plus Businesses…….pg 23 * New Numbers Show Women- Owned Firms Comprise Forty Percent of all Firms…….pg 27 * About Center for Women’s Business Research…….pg 27 * DR. Sharon Hadary Retiring from Center for Women’s Business Research…….pg 29 * The Research Team…….pg 30 Summary The Women’s Business Center movement, and federal funding of many of those centers through the U.S. Small Business Administration (SBA), emerged in the mid-1990s as a means for assisting women in business formation, particularly those who were socially and economically disadvantaged. The Impact and Influence of Women’s Business Centers research study examines the social and economic impact of Women’s Business Centers throughout the United States and their effectiveness at assisting women......

Words: 6970 - Pages: 28

Free Essay

Business Strategies

...studiate, denumirea de management al producţiei a fost înlocuită cu managementul producţiei şi al operaţiunilor (eng. production and operations management), iar mai târziu cu denumirea de managementul operaţiunilor (eng. operations management). Teză de doctorat abordează un subiect specific al domeniului managementului operaţiunilor, cel referitor la strategia operaţională. Strategia operaţională cuprinde viziunea şi abordarea strategică a tuturor proceselor şi activităţilor (operaţiunilor) unei întreprinderi al căror obiectiv final este executarea unor produse şi/sau prestarea unor servicii prin prelucrarea şi transformarea resurselor de intrare în sistem. De la apariţia articolului renumit al profesorului Skinner (1969) de la Harvard Business School conceptul de strategie operaţională s-a bucurat de o atenţie deosebită din partea cercetătorilor. Munca lui Skinner a declanşat o serie de cercetări teoretice, conceptuale şi empirice noi. O importantă parte a cercetărilor teoretice şi empirice din acest domeniu urmăresc să evidenţieze faptul că strategia operaţională poate reprezenta un factor de diferenţiere în competiţia de pe piaţă (de ex. Keong Leong & Ward, 1995, Jalham & Abdelkader, 2006, Corbett, 2008). Pe când majoritatea cercetărilor empirice sunt axate pe legătura dintre strategie operaţională şi competitivitatea întreprinderii (detaliate în Subcapitolul 4.6. al tezei), numărul articolelor şi cercetărilor care stabilesc o relaţie clară între strategia operaţională şi......

Words: 16084 - Pages: 65

Premium Essay

Business Strategy

...Chapter 12 – The Strategy of International Business Key Points of the chapter Strategy – is the actions managers take to attain the goals of the business (usually to maximize value for the shareholders/stakeholders). Value Chain – The operations of the firm compose the value chain which are the series of value creating activities that occur to create value. These actions include sales, production, IT, accounting etc. These activities are divided into support and primary activities. Primary Activities – Design, creation and delivery of the product. They are: 1. R&D 2. Production 3. Marketing 4. Sales Support Activities – Inputs that allow the primary activities to occur 1. Information Systems 2. Logistics 3. Human Resources Global Expansion Practices 1. Expand the market for your domestic products by selling internationally (Export) • Requires a company to tap into their core competencies 2. Move production to the most efficient countries to realize location economies • Some countries have a comparative advantage of production • Transportation costs and trade barriers must not be an issue • Location Economies is the value created by finding the most competitive place to produce product, therefore adding value i. Competitive can mean cheapest or best • Creates a global value web as opposed to a value chain 3. Serve expanded......

Words: 4808 - Pages: 20