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Write an essay on the importance of business strategy and use of IT in a business
Creating Business Value With Information Technology Enablers
Length: 2 pages (550 Words)
Introduction and Business Strategy
The coffee shop, a staple in the community, has remained unchanged since it’s founding in 1952. While important to keep its traditional charm, the lack of advancement in business strategy and use of IT could quickly become a pitfall. The shop has unfortunately experienced some falling profits in the last couple of years. However, this is to be expected since the coffee shop still operates as it did when it opened over 60 years ago. Formerly successful businesses can crumble if they are unable to evolve with the fast paced, growing technological ways of society. Even a business as simple as a coffee shop cannot ignore the rapidly changing environment (Lopez, Peon, & Ordas, 2009). Our job as new managers of the coffee shop is to bring the store up to pace with present day technology. We will start by redesigning the business strategy in order to create a focus point for our future improvements. We have chosen to use a differentiation and broad market strategy. Many coffee shops are located in East Lansing and we want to use differentiation to show customers that our shop is unique. Our main competitor is definitely Starbucks, which has several locations in the East Lansing area and a brand name known worldwide. Our coffee shop should definitely aim to offer a different type of experience in order to attracted customers. The shop would be unique and differentiated if we had all the modern day technologies that make running a business smooth as well as the classic, inviting atmosphere that the shop has always had. Combining these elements will create a coffee shop that is different from our competitors who are primarily large corporations (Lopez, Peon, & Ordas, 2009). We would also like to use a broad strategy in order to appeal to as many customers as possible. Our coffee shop should have something for everyone whether it is coffee, tea, or fresh baked goods. We think that by using IT enablers, we will be able to appeal to a younger crowd, and by keeping the traditional atmosphere, we will continue to appeal to our long term customers. Currently, we are lacking some staples in the industry such as a website and wireless Internet access. Many students like to study at small coffee shops, and in order to appeal to them we must have the right tools. The business should involve opportunities that the business invests in, to gain a competitive advantage (Lopez, Peon, & Ordas, 2009). Not having these simple and widely used technologies is definitely closing our doors to a large group of potential customers. Instead, we would like to make this coffee shop a strong competitor in the East Lansing coffee shop industry.