The paper 'Management Analysis of T2 Company" is a good example of a management case study. T2 Company is the leading retailer in the tea industry in Australia. Since its inception in 1996, it has grown in leaps and bounds to offer some of the most recognized tea brands such as Liquorice Legs, Chai, and Buddha’ s Tears as its bestsellers. Its main products are tea and crockery for serving tea, all sourced from various parts of the globe. The company, other than contributing to Australia’ s revenue, has helped to revolutionize consumer habits in its host country.
Being a pioneer luxury brand, it rose to challenge the dominance of coffee intake among Australians. This report analyses the T2 Company and its business styles relative to sustainability-related issues and strategies. It offers considerations for T2 to help it achieve better results in future. It looks at how T2 is enhancing the sustainability of its brands. Background Two business partners, Maryanne Shearer and Jan O’ Connor originally had an idea to start a home-ware chain but later lost confidence after realizing that bigger brands such as Country Road had similar notions.
It was while unpacking their first samples for the home-ware chain that the idea for a tea store was born. The two partners who both had previous experience in the retail industry founded T2 Company in 1996. The first T2 store was in Fitzroy’ s Brunswick Street, Melbourne. Shearer often says she was driven by the need to establish tea as a contemporary for coffee in Australia, at a time when most people were consuming the latter. She would go on to offer daily tea tastings at her stores. Initially, funds for the company were a problem and Maryanne relied on her life partner Bruce Crome who had accumulated considerable savings from his engineering years.
A second store was opened in St Kilda, later closing due to financial reasons. Another store replaced it soon after at a shopping mall in Chadstone, Melbourne. Today T2 has over 600 employees and sells its wares in 60 stores and upmarket restaurants and cafes sprawled across Australia, New Zealand and recently the United Kingdom and America. Currently, the company has the capacity to sell enough tea per month to make nine million cups.
It boasts renowned flavours such as Creme Brulee, Pumping Pomegranate, Gone Surfing, and Melbourne Breakfast. Its main competitors at both local and global level include Lipton's Tea. Noticeable history and background of T2: Year Landmark 11996 Founded by two business partners in Melbourne, Australia 22001 One partner, Jan O’ Connor bought out by Shearer and her life partner Bruce Crome 22007 50% of T2 Company sold to retail players Jonathan Dan and Phillip Blanco. Later Shearer bought back 25% from Blanco, leaving Dan to become a minority investor. 22012 T2 achieved revenue of AUS $57 million (for the 12 months ending June 2012) 22013 T2 purchased by global company Unilever that already owns other premium tea brands such as Lipton and Bushells.
The deal is reported to be worth $ 80 million. Role of technology management Technology management involves the use of management skills in the invention, development, function, and appropriate use of technology (Crespi et al 2007). Technology managers help create value for their business by using technology among other resources to unravel problems and improve efficiency and effectiveness. In short, twenty-first-century technology managers help certify that technology achieves a better future for all.
This is because it increases the efficiency of services and improves the quality of products. Employees need to be constantly educated on new technology therefore the company, in general, has to look out for alternative ways of improving their products. Some of the current technology trends include e-commerce and internet advertising (Martin 2006).
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