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Waterstone in establishing a chain of superb bookshops throughout the country. They were well-placed, inviting, efficiently-run and a wonderful improvement on WH Smith, the newsagents which were little more than pretend bookshops” (p. 1). 16 Uzoechi Nwagbara Waterstone’s; the rest is enshrined in its mission statement: “Waterstone’s mission is to be the leading bookseller on the High Street and online providing customers the widest choice, great value and expert advice from a team passionate about Bookselling. Waterstone’s aims to interest and excite its customers and continually inspire people to read and engage in books” (p. 1). It is based on Tim Waterstone’s perception of the UK’s bookselling marketing environment that made him come up with the concept of revolutionising it. Having worked for W H Smith (the first chain store in the world), the insights gained were brought to bear as he founded Waterstone’s. Waterstone’s is one of the leading British high street booksellers. It is a book specialist enterprise established in 1982 by Tim WaterstoneAfter becoming a subsidiary of the HMV Group in 1998, Waterstone’s acquired Dillions and Ottakars bookshops. Together with Waterstone’s, The HMV Group also owns the Irish store, Hodges and Figgis as well as Hatchards. One of the shrewd and resolute businessmen of recent years, Tim Waterstone is the founder chairman of HMV Media plc, which includes HMV music stores and Waterstone’s bookstores, as well as the founder of the Daisy and Tom Children’s department stores. Tim Waterstone joined W H Smith in 1973 and was made redundant in 1982. He founded Waterstone’s the same year with £6,000.00 of the redundancy money he received when he left W H Smith, plus the sum of 100,000.00, which he raised as venture capital (Norman, 2005). With its first office in Old Brompton Road London, Waterstone’s set the pace for modern bookselling in Britain. As Holroyd (2010) notes, “The best thing that happened to bookselling during my time as a writer was the brave initiative of Tim Waterstone in establishing a chain of superb bookshops throughout the country. They were well-placed, inviting, efficiently-run and a wonderful improvement on WH Smith, the newsagents which were little more than pretend bookshops” (p. 1). 16 Uzoechi Nwagbara The above remarks are fundamentally part of the reason for the establishment of Waterstone’s; the rest is enshrined in its mission statement: “Waterstone’s mission is to be the leading bookseller on the High Street and online providing customers the

widest choice, great value and expert advice from a team passionate about Bookselling. Waterstone’s aims to interest and excite its customers and continually inspire people to read and engage in books” (p. 1). It is based on Tim Waterstone’s perception of the UK’s bookselling marketing environment that made him come up with the concept of revolutionising it. Having worked for W H Smith (the first chain store in the world), the insights gained were brought to bear as he founded Waterstone’s.

As Holroyd (2010) notes, “The best thing that happened to bookselling during my time as a writer was the brave initiative of Tim Waterstone in establishing a chain of superb bookshops throughout the country. They were well-placed, inviting, efficiently-run and a wonderful improvement on WH Smith, the newsagents which were little more than pretend bookshops” (p. 1). 16 Uzoechi Nwagbara

Waterstones, formerly Waterstone's, is a British book retailer that operates 283 shops, mainly in the UK and also other nearby countries.[4] As of February 2014, it employs around 3,500 staff in the UK and Europe.[5] An average-sized Waterstones shop sells a range of approximately 30,000 individual books,[3] as well as stationery and other related products. Established in 1982 by Tim Waterstone, after whom the company was named, the bookseller expanded rapidly until being sold in 1993 to WHSmith.[6] In 1998, Waterstones was bought by a consortium of Waterstone, EMI & Advent International.[7] The company was taken under the umbrella of HMV Group, which later merged the Dillons and Ottakar's brands into the company. [6] Following several poor sets of results for the group, HMV put the chain up for sale. In May 2011, it was announced that A&NN Capital Fund Management, owned by Russian billionaire Alexander Mamut, had bought the chain for £53.5m[8] and appointed James Daunt as managing director. [9] The company is incorporated in England & Wales as Waterstones Booksellers Ltd, with its registered office at 203–206 Piccadilly, London (which is also the location of its flagship shop). As well as the Waterstones brand, the company owns the London bookseller Hatchards,[10] Irish shop Hodges Figgis,[10] and reached an agreement to purchase Foyles in 2018.[1] In April 2018, hedge fund Elliott Management Corporation bought a majority stake in the company. The model proved successful and the chain set about expanding its shop portfolio. In 1990 WHSmith took a strong minority stake in the chain, and ten years after its birth, by 1992, Waterstone's had grown to be the largest bookseller group in Europe. WHSmith [18] then acquired the company in 1993 at an enterprise value of £47m, paying £5.27 a share on 8.1m 10p shares, a 53x multiple for the early stage investors.[19] Under WHSmith, Waterstones pursued international expansion, opening its first US shop in Boston in 1991,[7] as well as further domestic expansion – opening its 100th UK shop in a former chapel in Reading.[7]

With almost 300 bookshops and employing over 3000 booksellers , Waterstones is the leading high street bookseller in the UK and Ireland. Amsterdam and Brussels play host to Waterstones’ European presence, and two further jewels in the bookseller’s crown are London’s Hatchards and Dublin’s legendary bookshop Hodges Figgis. Waterstones has opened several new shops over the last few years and invested in existing locations. The company also achieved a turnaround of fortunes for their online platform, Waterstones.com. In 2018 Waterstones further acquired British bookshop chain Foyles. Good bookselling and bookseller expertise is the driving force behind Waterstones’ bookshops, and every year Waterstones runs thousands of author events across the country from weekly story time sessions and book clubs to author talks and large book signings. One of the biggest events of the year is the prestigious Waterstones Children’s Book Prize, voted for by Waterstones’ expert booksellers. Other notable activity include the Waterstones Book Of The Year announcement and support for the Waterstones Children’s Laurea

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SWOT and TOWS SWOT (https://www.researchgate.net/publication/330025421_SWOTanalysis_Strategy_of_the_organization_to_the_strategy_of_personal_growth) SWOT is an essential component in the development of the growth strategy of a business. The existing methodology of SWOT comprises of formulation of strategic decisions taking into consideration the current resource potentional i.e., the current state of strengths of an organization, understanding the organization’s weakness, forecast of opportunities, and gauge the weakness of an organization...