Dear uday07,
You will find below my thoughts on these topics. If you find fault
with this work, please advise me through a Clarification Request so
that I have a chance to fully meet your needs before you assign a
rating.
leapinglizard
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information systems can serve many functions in a business. how might
you use them in your business? how might they change the way you run
your business? how might technological advances impact your business in
the future?
Information systems could be applied in the back end of our
business to keep track of inventory. If suppliers were equipped
with compatible systems, we would link ours with theirs to
implement electronic ordering. With inventory and ordering
both computerized, it becomes feasible to order fresh stock
automatically when inventory runs low. This reduces demands on
management and lets us concentrate our attention on customer
service. Rather than performing weekly stock counts, managers
and shift supervisors are freed to help with the day-to-day
operations of the store.
At the front end, information systems can be implemented for
cash management and order processing. Although standalone
cash registers remain popular, we could install registers
that interface directly with our computer systems to provide
instantaneous sales reporting on demand. Such a system means
that we don't have to wait until the end of a day to inspect
the cash take. Furthermore, a computerized solution means that
we can directly back up daily data to a permanent database for
long-term analysis.
With information systems like this in place, we can more readily
adapt our business to changing conditions. The sales database
would let us ascertain rapidly if sales trends have changed,
such as when a new kind of pastry becomes popular. In response,
we would tailor our marketing efforts and product range to meet
the increased demand. We would also curtail production of less
popular offerings, thereby reducing waste and contributing to the
bottom line. The automatic inventory control would also increase
efficiency by making sure that we don't overstock perishable
supplies, and that vital ingredients are always on hand.
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you have examined several different aspects of your start-up business.
identify what sources in the external environment(competition,
political/legal, economic, technological, and social/cultural) would
you believe to have the greatest potential impact on your success? why?
One of the most important factors in the success of a start-up
is the nature of the competition. For example, if we were to
establish our store in a busy location such as the crossroads
of two important thoroughfares, we would have to take into
the account the presence of nearby stores catering to the same
market. A competing retail presence in the lobby of a commercial
building would be certain to attract many office workers, so
if our own location were nearby, we would have to focus our
attention on a different audience, such as commuters and tourists.
Economic conditions are also crucial. By this we mean not only the
state of the local economy, but the financial condition of our own
enterprise. We require a steady source of funding in the initial
phase of the start-up, when we are still expanding and therefore
sure to lose money. Even once our cash flow has stabilized
and we have paid off the bulk of the initial investment, it is
necessary to have cash reserves on hand to tide us over rough
spots. Despite a dip in sales due to singular circumstances such
as road construction and traffic rerouting away from the store,
we should be able to stay in business until conditions improve.
Finally, cultural trends play a very important role in the
success of retail establishments, since these are what determine
the nature of customer demand. A business that sells doughnuts
and coffee will be very sensitive to a change in the way the
public perceives the health benefits of deep-fried pastries
and stimulant beverages. In the face of recent trends such as
the low-carbohydrate craze, our business would have to adapt
its product offerings or market them differently. We envision
developing low-carb doughnuts and emphasizing the no-carb aspect
of black coffee. Another possibility would be to humorously
emphasize the countercultural character of the doughnut diet.
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