Macro-economic Indicators of Performance and How Recent Changes in Indicators Have Affected Performance of Organization
To grow and profit despite a ruthless recession, PetSmart follows and consults certain macroeconomic indicators that regulate and direct its objectives and performance.
One of these is the Consumer confidence Index (CCI) . The CCI helps PetSmart gauge spending patterns of the market and assess how the economy is growing in general and if it is predicted to pick up soon, as well as the economic situation in six months time. The CCI, a monthly release from the Conference Board is a highly regarded measure and reliable in that it surveys a huge demographic sample of 5000 households. Split into three sections: Index of Consumer sentiment (how people currently feel), Current Economic Conditions, and Index of Consumer Expectations (how people predict that their spending will be in 6-month's time), the CCI can help PetSmart decide how to best allocate its resources and use its money: whether to expand and open new branches or to cut down and stick up on cheaper pet goods rather than experimenting with new services and goods.
The CCI, too, can help PetSmart determine whether and how it should stock up for the next six months and how it should best use its budget as well s whether it should better save or invest its money in new opportunities. The CCI, in short, provides PetSmart with an outlook on what it can expect in service sales. This tehn enables Robert Moran; CEO of PetSmart to predict that consumer spending will continue to grow despite recession within reasonable bounds (PetSmart CEO on consumer spending- CNBC, 2011.)
Employee cost index
PetSmart provides its employees with competitive wages, but in order to maintain its business through and despite the rescission, it has to both motivate its employees to stay whilst, somehow to other, cutting down business expenses so that it can...
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