Accounting Concepts and Principle

Question: Discribe about the Dicksmith company in Australia or New Zealand. Answer: Introduction Dick Smith is an electronics retailer organization in Australia. The organization was founded by Dick Smith in the year 1968 (Australia, 2016). Headquarters of the organization is situated in South Melbourne in Australia. The organization has spread its business across Australia and New Zealand. This essay will present a thorough discussion of the history and the strategic operating model of the organization. History of the organization Dick Smith Dick Smith is an electronics retail organization established in the year 1968 in a small rented place in Sydney. The organization started the business with a small capital of 610 Australian dollars (Australia, 2016). At the initial stage, the organization mainly installed car radios and provided servicing services for the same. . The organization was functioning well and in the year 1969 the company moved to a bigger premise for better service. Gradually the organization expanded its business from its car radio business and opened a Dick Smith wholesale shop (Australia, 2016). Though the organization has diversified into various businesses but the core business of the organization remains centralized to electronic business. Smith has also acquired the ideas of modern business and tries to incorporate them into his business. According to Chitimira, (2015), Dick Smith launched a self-serve shopping idea and produced an annual mail order catalogue. In this catalogue, the data of every e lectronics outlet were incorporated. In the year 1970, the organization opened outlets in mainland states. Many car battery radios were also launched by the organization between 1970 and 1980. System 80 which was the brand of the organization was so successful that the organization also launched Commodore VIC 20 and Commodore 64. This is the brief history of the organization. Companys strategic operating model and progress Dick Smith is a large electronics company in Australia and generates revenue of 1.319 Australian dollars (Australia, 2016). The organization has employee strength of over 3300 and the slogan of the company is Do more. Save more. (Australia, 2016). The company uses the internet to develop the operating model. In the website of the company the details of the product and its prices are given (Jablonski, 2016). Customers can order the product from anywhere and the product will be delivered at the desired location. This reduces the warehouse cost of the company. Suppliers are selected with the help of electronics tendering. This helps the organization Dick Smith to have a wider choice of suppliers. This helps the company to have a good product at a cheaper cost. Electronic negotiations help the organization to save time and enhance different functions. Dick Smith has also redesigned its store and the electrical components were replaced by computers and television (McLean, 2013). Conclusion The researcher has discussed the history and operating model of the enterprise Dick Smith. The organization has a glorious future and today it is one of the big names in electronics consumer industry. The organization has also taken help of internet and technology to develop its operation model. References Australia, D. (2016).Dick Smith | The Best in Tech at Amazing Prices.Dicksmith Australia. Chitimira, H. (2015). The regulation of market manipulation in australia: A historical comparative perspective.Potchefstroom Electronic Law Journal,18(2), 111-148. Jablonski, A. (2016). Scalability of sustainable business models in hybrid organizations.Sustainability,8(3), 194. doi:10.3390/su8030194 McLean, I. W. (2013;2012;).Why australia prospered: The shifting sources of economic growth. Princeton, New Jersey;Princeton, N.J;: Princeton University Press.