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Lifco and Spinneys Companies’ Success Histories Report

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Updated: Jul 1st, 2021

Introduction

In the world, there are many brands that are known to almost every consumer in the market and differ in not an only a successful business but also a rich history of development. Nevertheless, there are also enterprises that do not exist for many decades but also successfully trade and form separate networks, gaining popularity among clients. In order to compare two such enterprises, that is, a large corporation with a rich history and a smaller one but also successful, such companies as Spinneys and LIFCO will be taken as a basis. The first enterprise involved in the food trade is one of the largest retailers in the Middle East and is known throughout the world due to almost a century of development history. The second venture that is also involved in the food trade is represented in the market less time, but its business is successful due to a competently thought out policy. The evaluation of these two companies will help to compare the ways of achieving success and consider potential development paths that can guarantee profit to the owners of a smaller enterprise.

Main body

One of the largest food retailers was founded almost a hundred years ago. In 1924, a British officer started a new business, and in the future, the company began to develop and embraced the entire Middle East market (“Spinneys history,” n.d.). The modern network includes a large number of supermarkets that are valued by customers for a large assortment and fresh products that meet all the quality standards.

When speaking about the UAE market, here, Spinneys has first introduced almost sixty years ago. In 1962, the first stores appeared in Dubai and immediately aroused the interest of consumers (“Spinneys history,” n.d.). A distinctive feature of sales was frozen chicken that was offered to clients. In no other store was this product, and Spinneys became the first network to release such type of goods. Over time, other companies adopted this experience, but success was on the side of the corporation under consideration.

The network became known outside of Egypt soon after its foundation. In 1967, the first commercial object Spinneys was opened in Beirut (Spinney’s history,” n.d.). Also, the corporation began to tear up stores in Jordan, Qatar, Lebanon, and other countries of the Middle East (Hepworth, n.d.). The recognition of the brand was achieved due to a well-planned policy of attracting customers. The retailer’s slogan is “The fresher experience,” which is confirmed by the quality of the goods provided (Hepworth, n.d.). Therefore, the company successfully operates in the market and has a consistently high income that is achieved with the help of high consumers’ demand.

Contemporary success is also significant. In 2024, the corporation will celebrate one hundred years from the day of its foundation (Hepworth, n.d.). During its existence, the retailer has found a large chain of stores. Thus, for instance, there are thirty-three outlets in Dubai today. They all regularly supply fresh products and provide customers with both goods imported from abroad and the products of their own making. Moreover, the company successfully establishes trade relations with other ventures, thereby creating the partnership and providing itself with support in a competitive market. The work of the corporation not only brings substantial income to its owners but also completely satisfies the demand of consumers, which is an essential aspect in the organization of any enterprise’s activities.

Spinneys’ Success as the Example for LIFCO

Another company that also works in the food sector and is successfully developing is LIFCO. This start-up enterprise also has a good reputation in the Middle East market and provides those services that are similar to Spinneys. Nevertheless, LIFCO does not have such a rich history and is forced to build its particular policy to not only attract the attention of customers but also to make a profit for further development. Spinneys’ experience can be useful in order to successfully improve the production base, build partnerships, competently manage personnel, and provide goods that will meet all quality standards. All these aspects should be considered to assess the opportunities and prospects for the development of LIFCO.

Improvement of Internal Policy

The organization of Spinneys’ work is established in such a way that different departments are involved in monitoring and performing certain tasks. Due to a long period of work in the market, the leaders of the corporation have succeeded in creating a stable system that is capable of responding to changing customers’ needs. LIFCO appeared much later and initially developed in Venezuela, later also becoming part of the Middle East market (“LIFCO GROUP,” 2013). Today, the company uses different strategies, but the variety of modes of operation may complicate the process of achieving full recognition by competitors. Complex approaches to management are not always effective, particularly when considering a volatile and dynamic market of food products. Therefore, an emphasis on a specific model and the strategic management of staff can be useful in achieving success.

Creating Partner Relationships

Another condition of work that can be adopted from Spinneys is the establishment of partnerships. According to Ali and Darak (2014), “the UAE employs an open market and business friendly policy” (p. 97). It means that there are many companies that are ready to offer, for example, sponsorship to start-up organizations and to support business development. The food sector is always an actual segment of the market, which can be improved. If LIFCO can actively cooperate with enterprises inside the UAE and outside the country, it will become a good advertisement for the corporation and will attract even more customers.

In the process of establishing partnerships, it is possible to resort to the strategy of accelerated growth. This model of work gives start-up companies an opportunity to enter new arenas and offer a wide choice to clients (“LIFCO: About,” 2018). The more active management attracts new resources, the higher the chances are that the company will be able to overcome the barrier of competition and reach an appropriately high level due to an open policy of interaction. Therefore, the establishment of partnerships can be a useful condition for the development of a small but hard-working company.

Offers of Relevant Products and Goods Improvement

When looking at the activities of Spinneys, it can be noted that the company is successfully implementing new ideas regarding the introduction of the original products. The example of frozen chickens, which first appeared in Dubai in this trading network, confirms the effective work of this retailer’s analysts. A similar strategy can be used by LIFCO. Despite the fact that the modern food market is rich in various delights and unusual offers, new developments can still be carried out to attract public attention to the company’s brand.

In order to differ from competitors and have unique products, it is essential to constantly analyze the existing market situation, conduct surveys among consumers, and also take the initiative. As McKelvey (2016) claims, in a dynamic business ecosystem, the higher the speed of decision-making is, the higher the chance of advancing opponents and deserving the confidence of stakeholders will be. Thus, the creation of high-quality and fresh products of its own production can enhance the credibility of LIFCO among customers. It, in its turn, will increase demand and become the basis for expanding the business. The corporation will be able to increase its assets, open new outlets, and gain popularity both in the internal and international markets as a separate and unique brand. Therefore, the promotion of individual products and a constant search by improving goods can be useful for a small and little-known enterprise.

Personnel Policy as One of the Elements of Success

Successful work on attracting qualified personnel is an important aspect of the organization of any enterprise, including such a large retailer as Spinneys. More than a thousand employees work for LIFCO, but this figure is not proof that they are all professionals and are ideally suited to their tasks (“LIFCO: About,” 2018). Strategic management can also be useful in the context of personnel policy aimed at attracting talented and ambitious employees who are ready to make efforts to achieve the success of the company. In order to implement the provisions of this labor concept, the experience of Spinneys can be considered since this corporation is known for its competent approach to personnel hiring.

A modern approach to recruitment is the feature that distinguishes Spinneys from many other large retailers. Each of the departments of the network functions in accordance with certain procedures, and the tasks of employees do not include universal control but only monitoring of a particular work segment. Nevertheless, the quality of labor is an indispensable condition since many people are ready to become employees of this corporation. In order not to lose their positions, it is necessary to work hard and fruitfully. Perhaps, LIFCO should adopt such a model of hiring the staff where a democratic approach to the organization of work is promoted, and the whole team works as a single and cohesive mechanism. According to Ali and Darak (2014), all specialists, including procurement managers, cashiers, analysts, and other employees will perform their duties effectively if they are sufficiently motivated. Consequently, the task of the LIFCO management is to provide its subordinates with sufficient benefits for them to show reasonable initiative and to be ready to work for the benefit of the company.

Conclusion

The evaluation of the two companies’ activities can be useful in order to assess the success of a large enterprise and use its experience in the development of a smaller start-up organization. Different aspects of the work can be taken as a basis for improvement – the peculiarities of internal policy, the establishment of partnerships, the improvement of the quality and assortment of products, as well as a competent approach to hiring personnel. Adherence to modern conditions of the market development can allow a small enterprise to become sustainable in a competitive environment and strengthen its position among consumers.

References

Ali, R., & Darak, R. A. (2014). Competitiveness of Malaysian fresh agriculture and agro-based products in global markets: A case study in the United Arab Emirates. Economic and Technology Management Review, 9(3), 93-101.

Hepworth, J. (n.d.). Web.

Spinneys history. (n.d.). Web.

(2018). Web.

LIFCO GROUP. (2013). Web.

McKelvey, B. (2016). Complexity ingredients required for entrepreneurial success. Entrepreneurship Research Journal, 6(1), 53-73.

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IvyPanda. 2021. "Lifco and Spinneys Companies’ Success Histories." July 1, 2021. https://ivypanda.com/essays/lifco-and-spinneys-companies-success-histories/.

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