ISFM300 Case Study, Stage 1 Business Environment Analysis
ISFM300 Case Study, Stage 1 Business Environment Analysis PRG211
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Date Created: 11/09/15
Running Head: BUSINESS ENVIRONMENT ANALYSIS 1 Case Study UMUC Haircuts Submitted To: Professor Name Submitted By: Student Name BUSINESS ENVIRONMENT ANALYSIS 2 I. Introduction The “UMUC Haircut’s” business was first opened its doors in 1995 by Mrs. Myra Morningstar. This was the only barbershop in a 10 mile radius near the college campus. Many other competing businesses started since that time which affects the business of UMUC haircuts. This evaluation of the “UMUC Haircut’s” business will help in identifying how this business operates and determine a strategy for competitive advantages to increase revenue over the other competing businesses (UMUC Haircuts Case Study, 2014). II. Five Forces Analysis FIVE FORCES ANALYSIS FORCE EXPLANATION IMPACT(POSITIVE, AFFECT NEGATIVE, or STRATEGY? NEUTRAL) (YES/NO) (Minimum 2 good sentences) BUYER POWER The UMUC Haircuts business Neutral No right now has the low buying power which means that that its customers have less options for what they wanting to buy. And, the customers can go to any competitor area, therefore the customer buying power is neutral. SUPPLIER POWER Supplier power depends on the Negative yes number of suppliers, the business organization have. The price of supplies is going up which makes the supplier power high, but Myra has no control over the suppliers. THREAT OF SUBSTITUTE In the UMUC haircuts saloon of Negative Yes PRODUCTS OR SERVICES Myra, the customers can let others to cut their hair which in result makes the threat neutral. THREAT OF NEW A number of other businesses Negative Yes ENTRANTS will be opened with less mile radius than Myra’s one. Moreover, Myra has no IS which results into high barrier entry. BUSINESS ENVIRONMENT ANALYSIS 3 RIVALRYAMONG EXISTING The Rivalry is offering same Negative Yes COMPETITORS services as Myra is offering for her business. III. Justification of Selected Strategy for Competitive Advantage Myra selected Operational Effectiveness strategy for competitive advantage for her business as it provides the distinction between a business’s strategic missions in contrast to its operational effectiveness (Olsen, 2006). In order to enable the UMUC Haircuts to perform its activities better than its rivals this strategy improves the way in which internal business processes are executed. Some of the five forces support this strategy and these forces include Supplier Power, Threat of New Entrants, and Rivalry Among Existing Competitors. Operational Effectiveness Strategy has an impact on the Porter’s Five Forces of Analysis. o Buyer power is neutral, because he customers have many options to go to any other competitor area, o Supplier power is high which has negative impact on the UMUC Haircuts business, o A threat of substitute products or services is neutral, because customers can let someone else to cut their hair, o A threat of new entrants is negative, because several competitors have opened their business within 5 mile radius, and o Rivalry among existing competitors is also negative, because rivals are offering same services as Myra’s business is offering. IV. Business Process Customer and Employee Scheduling: If UMUC’s Haircut considers a customer and employee scheduling properly, then it could have a great operational effectiveness. Currently, Myra takes appointments by phone and accepts walkin customers on an asavailable basis. Due to the reason that the BUSINESS ENVIRONMENT ANALYSIS 4 tool is flexible and styled software, this process (Customer and Employee Scheduling) which is to be improved, is related to the strategy for competitive advantage. The shortcut of appointment bookings are made by the customer using this software by online means or in the stores. This provides a quick way to have appointments accessible which in turn saves the over booking hassles of inconsistency. Moreover, it makes accessibility for clients to book online through a sleek by putting in place a customer and employee scheduling. The stylist of the UMUC Haircuts can enjoy several benefits like decrease in noshow clients with the use of the appointment scheduling software. V. References Olsen, E. (2006, March 31). Competitive Advantages & Operational Effectiveness. Retrieved March 28, 2015, from http://onstrategyhq.com: http://onstrategyhq.com/resources/being-operationally-effectiveness/ UMUC Haircuts Case Study. (2014, October 28). Retrieved March 28, 2015, from http://www.essaybolster.com: http://www.essaybolster.com/blog/umuc- haircuts-case-study-3/
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