HI6006 Competitive Strategy Editing Service
Delivery in day(s): 4
The cost-benefit analysis needs to be considered for the changes required in setting up the e-commerce website. The costs of technology and its maintenance, running costs, costs for design and implementation, costs for training the staffs, running costs comes under this process are the initial costs required to launch the website (Christensen, 2013). This will lead to a huge financial benefits- improve cash flow, increases revenues, payments will be received within a friction of second. The communication and transparency will be there between the toy store and customers, this will lead to increase customer satisfaction and increase in revenue. The exposure of the brand via internet will market the brand and its product globally which is an additional advantage as the cost of advertising in social media and posters are quite expensive. The valuable data of customers will also be safe in the customer database that will create a trustworthy relation with the customers. Undertaking of risk analysis is desired to solve every problem efficiently. Innovative skills are required to learn the barriers that can arise while launching the online e-commerce website. There can be few barriers that can come while installing the e-commerce website like trust of potential customer, offline stores are also emerging with the rise of e-commerce platforms, security of customer information such as name, address, credit card number, hidden cost such as shipping amount and product recommendation. These issues must be efficiently tackled to start the e-commerce business. There can be times when competitors may try to hamper the new project in several ways but those issues must be solved efficiently.
Efficient management plan is desired to launch e-commerce project. A project manager is desired to assist the team to manage the hurdles of adding new features. A proper estimate and deadline must be revised after the changes. While selecting a supplier or vendor proper clarity of the new strategy must be disclosed. The manager must discuss the plans and processes with the vendors and technical staff to agree upon the strategy. The technical staff must be provided knowledge about the website after the completion of the project. It’s the duty of the manager to transfer only the relevant data which is required in terms of technical staff. The team chosen by the manager must work in a long term basis as they will be handling the new responsibilities and requirements. Efficient approval from higher authority is required to set up the online platform in the business (DuBrin, 2013). This may take few days to operate but eventually it will give you the approval for the change in project. Without the approval of the authorities, the new project cannot be launched. The employees have to be efficient to cope up with the new change so that they can learn to operate the online platform at ease and they will be under the supervision of the managers. Whatever problem arises or any issue occurs, the manager must be informed immediately to take the action as soon as possible. The plan that has been developed needs to be communicated with each employee so that they can give their own views in terms of enhancing the organization towards profitability and minimizing the loss. A meeting or proper discussion session must be organized for communicating and train the staffs about the new plan and its operation in terms of organizational goals. Training program can also be provided to the staff to increase their knowledge in terms of the e-commerce website. If needed recruitment of well-trained employee will also be helpful. The views of the staffs are also important while making any decision in the changing process as this will encourage and motivate them and in turn will benefit the company. It solely depends on the manager that how much information are needed to share with the employees as with the installation of online e-commerce website comes the threat too such as loss of data of potential customers, security, etc. The future activities that will put forwarded by the employees must be conveyed with clarity for enhancing their work efficiency (Hatch & Cunliffe, 2013). Efficient guidance must be provided to the employees and feedbacks will also be needed from them to make the change more effective for the betterment of the company. Every decision and activities that will take place will be under the terms and policies of the company.
The barriers that arise with the launching of e-commerce website must be resolved efficiently. Identifying each barrier is required to increase the profitability of the toy store. The employees must be aware and present whenever needed, they needs to enough skilled for attaining the new change, demographic changes are desired in the company, needs to procure imported products because of the increase acceptance of imported products. The trend of quality products at low marginal cost is evolving globally, hence; efficient communication with the supplier is desired to procure goods at reasonable cost. This will be profitable in both business and customer satisfaction. As the cost of rent as well as the cost of products from the supplier is rising slowly, proper estimation of the launch of the e-commerce website needs to be done. Every actions and activities from starting till ending that is required for successfully launching the project must be efficiently done with specific time bound (Kerzner, 2013). As none goal can be achieved without setting up a time bound. New strategies must be activated for embedding the current change in the project. A regular review and evaluation must be done to track down the progress of the project. Modifying the plan wherever changes are desired will lead to successful accomplishment of the goal. Launching the e-commerce website will gain more potential customers and also customers will be attracted towards the retail store (Jay, 2013). This new project will provide an additional advantage to the Toy shop in this competitive market which will definitely procure profitability for the company.
Christensen, C. (2013). The innovator's dilemma: when new technologies cause great firms to fail. Harvard Business Review Press.
DuBrin, A. J. (2013). Fundamentals of organizational behavior: An applied perspective. Elsevier.
|Hatch, M. J., & Cunliffe, A. L. (2013). Organization theory: modern, symbolic and postmodern perspectives. Oxford university press.
Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Jay, J. (2013). Navigating paradox as a mechanism of change and innovation in hybrid organizations. Academy of Management Journal, 56(1), 137-159.