Individual Learning Activity Assignment Help
Individual Learning Activity Assignment Help This is a solution of Individual Learning Activity Assignment Help in which we discuss Australian businessman Dick Smith’s brief biography.
In July 1999, Dick Smith announced his intention to set up a 100% Australian owned food company to fight back the trend that increasing number of Australian brands are now foreign owned. On 29 November 1999, he made the decision to go ahead with Dick Smith Foods with a capital of $2 million.
The first Dick Smith Foods product, Dick Smith Peanut Butter, was launched at the end of February 2000. Since then, Dick Smith has been successful in engineering consumer support for his food products by attaching his name to the “buy Australian” cause. On 4 October 2000, Dick Smith Foods announced that retail sales of $27.8 million had been achieved in the first nine months of operation, and that the company was in a profitable situation, having covered all establishment costs. Dick Smith?s original aim was to achieve sales of $100 million to support Australian farmers and manufacturers and he achieved this in just 16 months of operation. As at 31 March 2002, Dick Smith Foods had achieved $152.65 million in retail sales. Although the sales turnover of Dick Smith Foods has dropped from its peak of over $80 million when the product was first launched, it still maintains an annual turnover of above $8 million in 2012.
This case looks into the external environmental factors and the internal marketing strategies of Dick Smith Foods, which contributed to the success of the new business in such a short period of time and its continue survival in the competitive Australian fast moving consumer goods sector. In fact, Dick Smith is not just a person; his name is itself a brand name to many Australians that this case will start with a brief look at Dick Smith?s life.
Dick Smith’s Biography In Individual Learning Activity Assignment Help
Dick Smith is a well-known Australian businessman, aviator, film-maker, and explorer. Below is his brief biography:
? Born on 18 March 1944 in Roseville, New South Wales.
? Founded Dick Smith Electronics in 1968 and sold his interests to Australian-owned Woolworths in 1982 to do publishing, exploration, aviation and philanthropy.
? Named Australian of the Year in 1986.
? Made the first sole helicopter flight around the world in 1983 and made the first helicopter flight to the North Pole in 1987. First person to fly around the world via the poles in 1989.
? Founded the quarterly magazine Australian Geographic in 1986 and returned the Australian Encyclopaedia to Australian ownership in 1987, sold to Australian-owned John Fairfax Publication Pty. Ltd. in 1995. Now privately owned following management buy-out in 1998.
? Held several chairman positions with the Civil Aviation Safety Authority Board and the National Centenary of Federation Council between 1990 and 2000 and in 1998 was appointed as Ambassador for the Council for Aboriginal Reconciliation
- First non-stop balloon flight crossing of the Australian continent in 1993 and first Trans-Tasman balloon flight against the wind from New Zealand to Australia in 2000.
? Founded Dick Smith Foods in November 1999.
Dick Smith is a man of many personas. Through his high-profile and self-promotion activities, Dick Smith has become a highly recognised public figure in Australia. A poll by The Sunday Telegraph in October 1999 found that he was the second most popular choice for a president should Australia became a Republic.
Individual Learning Activity Assignment Help Company Mission
As stated in the company?s mission statement, the substantial difference between Dick Smith Foods products and the products of many other companies is:
“Dick Smith Foods markets a range of food products that are best of category in taste and quality. Dick Smith Foods are made in Australia, by Australian owned companies. We believe this is important because it provides employment for Australians and all the profits remain here, helping the future of our country.
Dick Smith Foods supports products which are produced by Australian owned businesses, which are Australian grown and made, and those Australian owned companies which operate in a highly ethical manner.
Since the beginning of Dick Smith Foods we have donated over $4.7 million to a large number of charitable organisations.”
The company?s mission is best summarized in their slogan: “As Australian as you can get!”
Dick Smith’s Policy on Foreign Investment
The driving force behind the establishment of Dick Smith Foods was the realisation of the fact that in Australia 85% of the products in the average Australian grocery trolley are either imported or made by foreign owned companies. This results in $100 million a day going outside Australia. By comparison, in Japan, 98% of goods in supermarkets are owned by Japanese organisations.
Dick Smith argues that there are two key reasons to support Australian owned companies – profits stay in Australia and jobs are created for Australians. Quote the source from AusBuy, he suggests that if every Australian redirects $10 per week from foreign owned companies and foreign made items to Australian products, Australia would save $4 billion per year and create 100,000 new jobs.
More and more Australian “digger” brands like Vegemite and Arnott?s are now foreign owned. Dick Smith wants to fight back and see a more even balance between Australian products and foreign products in our shopping trolleys.
Individual Learning Activity Assignment Help
When launching Dick Smith Foods in 1999, Dick Smith makes it clear his policy on foreign investment:
“I believe one of the reasons that Australia has been so successful is because of foreign investment. However foreign investment, as we once knew it, consisted of companies coming to Australia, bringing in capital, taking risks and creating a new business that actually increased employment and wealth for Australia.”
“Unfortunately in recent years, foreign investment tends to mean wealthy overseas companies coming in, taking over successful Australian companies (sometimes against shareholder agreement), downsizing (ie putting off, say, 20% of the staff), and then taking profits out of the country. I?m not sure that this type of foreign investment is what we really require.”
“I believe we should be looking for a balance. Foreign investment has given us some great advantages in the past, however that does not mean that all future foreign investment is good.”
Dick Smith position on foreign investment is not without criticism. For example, in a media release of 23 July 1999, Mr. Mitchell H Hooke, Executive Director of the Australian Food and Grocery Council (AFGC), the peak representative body for Australia?s food and grocery product manufacturers, welcomed Dick Smith?s entrée to the Australian food industry but regretted his alleged reasons for doing so, and considered his attack on foreign owned Australian manufacturers as unfair and unfounded. Mr Mitchell H Hooke said, “We welcome Mr Smith?s foray into the industry and trust that he will develop a competitive strength on merit and not by unsubstantiated denigration of his potential competitors.”
An article in the January 2000 issue of the “Australian Made” newsletter (published by Australian Made Campaign Limited of Canberra) argued, “The real argument in a global economy isn?t one of ownership. „Australian owned? doesn?t necessarily mean profits stay on-shore, as supporters claim. And there?s no guarantee an Australian owned company is manufacturing here in Australia – it may be importing. ……Many of Australia?s biggest, best known and best supported brands may well be foreign owned. These corporations have invested in Australia and employ Australians. Many support the Australian Made Campaign.”
Nevertheless, Dick Smith has been influential in raising the profile of the “buy Australian” campaign. In 1999, he became patron of Ausbuy – a non-profit organisation that aims to create awareness of the sell-off of Australian icons and brands to overseas interests.
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