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Table of Contents
Introduction......................................................................................................................................3

Task-1: Contemporary Research.....................................................................................................4

Task-2: Analysis of ALDI Business Prototypical...........................................................................5

Question 1:...................................................................................................................................6

Questions 2:.................................................................................................................................7

Task-3: Business Ethics...................................................................................................................7

Task-4: Class Discussion.................................................................................................................9

Task-5: Collating Portfolio............................................................................................................12

Reference.......................................................................................................................................13
Introduction
The knowledge portfolio is an indispensable and invaluable tool for monitoring learners'
achievements in obtaining soft skills and competencies via lifelong learning procedures in
traditional, non-formal, and knowledge acquisition (Bouncken et al., 2021). Portfolio
advancement refers to the method through which a student in higher education keeps track of and
displays knowledge and skills acquired outside of the traditional classroom.

Five tasks make up the portfolio. Conducting current research on a topic connected to
operational management is the first assignment. Here is another case study with ALDI. The
third assignment's subject, corporate ethics, emphasizes the advantages of upholding moral
standards. A presentation on class discussion is the fourth task. The duties of the portfolio are
listed in the fifth position.
Task-1: Contemporary Research
BREXIT is one of the major contemporary issues in the economic and political field. The United
Kingdom's (UK) process of leaving the European Union is referred to by the term "Brexit,"
which stands for "Britain" and "exit." According to (Clarke et al., 2017), The Departure
Agreement entered into effect the day after the UK departed from the EU on February 1, 2020,
controlling the orderly disengagement of the UK from the EU while preserving the
administration of the commonwealth of nations in their dealings until December 31, 2020.

In order to restore influence over their territory, immigration, trade, and economy, the people of
the UK want to exit the European Union. They really would like to exit the European Union as a
result (Pettifor, 2017). Anti-establishment politics are the driving force behind Brexit.
Sovereignty is another justification. Immigration and economic control are the key causes. 51.8
percent of ballots cast in the constitutionally non-binding plebiscite were in support of leaving
the EU.

In 2017, the problem had a detrimental effect on the UK economy. The British people received
approximately 0.6 and 1.3 percent less money. Since Brexit, exports to EU nations have
decreased by 45% (Breinlich et al., 2018). A UK-based company is also impacted by the
problem. The cost of the company has increased. As a consequence of Brexit, import prices have
also gone up. Getting access to the entire European market is the key advantage of joining the
EU. An organization's market grows as a result. The UK was no longer qualified for this subsidy
once it left the EU.
 Figure: Economic and Geopolitical Effects of BREXIT

Source: (Campos & Timini, 2019)

There were no restrictions on commerce and cross-border transactions prior to the United
Kingdom's departure from the EU, the Free Trade area, and the Common Market on January 1,
2021. For governmental agencies, corporations, and individuals, there were inescapable,
significant consequences. Trade liberalization, Foreign direct investment inflows, and migration
rates have all decreased in the UK as a result of Brexit (Felbermayr et al., 2017). Trade obstacles
are being created by rising transportation costs and escalating border friction, and it is doubtful
that foreign investment will ever again approach the levels seen in the 1990s and 2000s.

Politics has an impact on the problem. In order to lower corporate costs and encourage import
and export, the UK could either rejoin the EU or take alternative actions. They could get access
to other economies in the region and America to grow their business. The UK may easily enter
all markets as a result of leaving the EU. It enhances the company's financial status.
Additionally, it will provide them with a competitive advantage in the marketplace. They may
get around the Brexit issue by entering new markets (Walter, 2021).

Task-2: Analysis of ALDI Business Prototypical

In 1961, the first ALDI grocery store in Germany began operations. The Albrecht family started
the grocery store mostly with intention of making shopping easier and providing far more
affordable pricing than rivals. The usual commercial grocery shop isn't ALDI.
 Figure: ALDI Business Model

Source: (Chatterjee, 2017)

To keep costs low and make sure that no one leaves without anything they need, ALDI
concentrates on buying in bulk the items that consumers need the most. In order to guarantee
effectiveness and quality despite saving a deal of time and resources, ALDI also exhibits the bulk
of its items in their actual container ships in its shops. 90 percent of the goods sold by ALDI
come from well-known brands (Sarisa, 2021).

Question 1:
ALDI and similar stores offer different customers experience. Do you think a similar business
model would work in other industries? Please give examples to illustrate your answer.

A business model is a thorough plan for managing a firm profitably in a certain sector. Business
models that allow profitable enterprises to meet client requirements at a price that is both
affordable and long-term. To reflect on changing market circumstances and competitive
dynamics, many firms often adjust their business strategies over time (Arnold et al., 2016).

Different industries follow different business models according to their appropriateness. It is not
necessary to follow the same business model for every industry. For example, if the tourist
industry eliminates certain services, it could not have a big effect on the company. Due to the
removal of the food delivery service, the transportation company may cut customer prices. More
individuals with little means could be enticed to visit there. Additionally, if the Beachfront hotel
scales down its music and pool services, it could not have an impact on revenue. At this location,
clients are allowed to have a sea bath. It is not necessary for them to enjoy the sounds.

However, the shoe industry would suffer if businesses like Bata Shoes restricted the types of
footwear they manufactured, for as by only offering sneakers or shoes for women. Similar to
ALDI, cut down on your shop purchases of sandals. Sales for the organization will certainly fall.
By using the ALDI business model, this company cannot be successful (Jabłoński & Jabłońsk,
2016).
Questions 2:
What are the sacrifices customers have to make in order to have access to these shopping
experiences?

ALDI is considering taking a few items off the shelf. Customers would miss out on a range of
experiences if they did so. First, they will pass up the opportunity to do actual shopping. They
will be unable to make decisions or perceive new things (Ferrell et al., 2020). Therefore, the
customers would become weary If they go to the shop and discover that there aren't any
variations of the items, they might not be able to identify the brand they're looking for.

Additionally, it stops consumers from transacting. Customers occasionally purchase unique items
in order to get a unique experience. Yet, if ALDI lowers the price, multiple orders won't be an
option for customers(Chatterjee, 2017). Therefore, item reductions could provide clients a
chance to purchase other things.

Consumers eventually get bored as a consequence. A small number of items are available to
consumers. They are unable to compare items when there are few offered. It lessens the pleasure
of consumers' shopping experiences (Giuri, 2022). Because they're unable to set their goods apart
from those of competitors, they come off as dull. Therefore, cutting back on an item could lead
to worse consumer shopping encounters, which would be bad for ALDI.

Task-3: Business Ethics

What is permissible and undesirable in the workplace is decided via a mechanism known as
business ethics. Laws often serve as the basis for business ethics and prevent businesses and
people from participating in unethical behaviors including market manipulation, racism, and
extortion. As opined by (Ferrell et al., 2020), making ensuring that everybody in the
organization, from senior executives to new employees, has a moral perspective is the goal of
business ethics. Making certain that everyone is treated respectfully, fairly, and honestly helps
(Ferrell & Fraedrich, 2021).

Best Buy is the greenest company in the US. In an attempt to reduce the company's
environmental effect, Best Buy CEO Hubert Joly pledged to eliminate waste in February 2019.
For instance, the customer service representatives for Geek Squad at Best Buy operate hybrid
Toyota Prius cars. As a consequence, according to Best Buy, 140,000 gallons of fuel were saved,
which is equivalent to taking 263 cars off the road and avoiding their carbon dioxide emissions
for an entire year.

Additionally, Best Buy promotes the repurposing of equipment by allowing the Geek Squad to
repair damaged goods. According to Best Buy, two billion pounds of discarded gadgets and
gadgets have been gathered for recycling (Sawhney et al., 2017). Additionally, Best Buy runs
Teen Tech Centers where underprivileged American children are taught the fundamentals of
technology. By cultivating exceptional people, Teen Tech Centers assist Best Buy in expanding
its staff.

At Best Buy, ethics helps the business by ensuring its survival. Notably, Best Buy seems to be
the only remaining electronics store in the nation. Its most well-known rival, Radio Shack, went
out of business in 2017. Circuit City and other rival businesses have folded. There was enough
competitiveness from discount retailers like Walmart and Amazon for those other physical
sellers of electronics in the US.

Figure: Ethics in Best Buy

Source: (Matanje Mwagomba et al., 2021)

However, Best Buy announced $42.879 billion in annual revenue and a $9.961 billion profit in
February 2019. The stock price of Best Buy was also $71.97 on July 3, 2019. As Best Buy has
shown, moral decision-making is crucial for business success. Because of its commitment to
morals and customer care, this company is surviving the retail apocalypse in America (Gobble,
2018).

Task-4: Class Discussion

Member 1: What is Supply Chain Management

Supply chain management is the management of a product's or service's entire production

process, from the procurement of raw materials to the distribution of the final item to the client.
To move the merchandise from raw material procurement to companies that deal with clients
directly, a firm sets up a network of suppliers (Hugos, 2018). The "face" of the company that
stakeholders see most often is its supply chain. A company's long-term sustainability and brand
are better safeguarded the cheaper and more accurate its supply chain management is.
Member 2: Importance of Supply Chain Management

The majority of firms use supply chain management, which is crucial to both the performance of
the company and consumer happiness. Enhanced client service Customers anticipate receiving
the proper assortment and volume of goods. Customers anticipate receiving their orders on
schedule. Customers anticipate that items will be accessible when they are required.

Retailers rely on a supply chain network to deliver expensive goods swiftly so they won't have to
hold them in stock for an extended period of time. In order to prevent material shortages that
might halt production, manufacturers rely on supply networks to deliver resources to production
lines in a reliable manner (Alfarsi et al., 2019). Building networks that satisfy customer service
objectives while ultimately costing manufacturers and merchants the least quantity of funds is
the responsibility of supply chain managers. A company may raise its level of market
competition by developing efficient supply networks.
Member 3: Challenges and Implications of Supply Chain Management

Supply chain managers must make plans in advance to keep the system running well since the
contemporary supply chain must change to meet changing needs and supply chain challenges.
Significant problems are faced across the supply chain system as a consequence of a number of
variables, including rising customer demands, growing market opportunities, difficult global
issues, and others (Melnyk et al., 2022).

As expenses rise throughout the entire supply chain network, profit margins are indeed being
squeezed. The diversity of these costs and the absence of responsibility for their mitigation might
cause operational costs to increase. Consumers purchase goods via a number of channels, and as
marketing channels expand, the underpinning supply chain must adjust. To integrate each of the
channels, logistics managers must modify existing supply chain procedures (Kache & Seuring,
2017).
Task-5: Collating Portfolio
The operational management of the corporation is impacted by politics at the local, national, and
worldwide levels. The business concept for ALDI does not work well with the shoe sector. By
attracting consumers, enhancing staff living circumstances, and providing amenities, business
ethics practices may increase an organization's sustainability. The portfolio's presentation
demonstrates that inventory control is now the subject receiving the most interest in the corporate
world. By successfully implementing supply chain management, businesses may experience a
growth spurt.
Reference
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Campos, R. G., & Timini, J. (2019). An estimation of the effects of Brexit on trade and
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Ferrell, O., Fraedrich, J. and Ferrell, L., (2020). Business ethics.

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