Question

Answer all the following questions, using essay format Pick a firm/company/organization from your country that you are familiar with for example mac, ikea

Question 1

Business strategy allows organizations to develop a clearer understanding of their own organization and what’s required for them to succeed.

a- Explain what business strategy is and discuss why the competitive advantages are temporary along with the four key areas of a SWOT analysis.

b- Give an example to show how you may apply the SWOT. (1000 Words)

Question 2

Define critical success factors (CSFs) and key performance indicators (KPI) Explain how managers use them to measure the success of MIS projects. (1000 Words)

Answer 1

SELECTED ORGANIZATION : IKEA

ANSWER 1 :

Answer a :

STRENGTHS :

• Client information. One of the key upper hands IKEA has is its broad information about the clients. The organization comprehends the buying factors that impact clients to purchase and executes the accepted procedures to actuate that choice. IKEA offers low costs and an immense scope of items. Creators continually present new structure items that look at a la mode without flinching of clients. All the items are planned so it is anything but difficult to move and amass. In addition, the organization offers the largest item range and positive shopping experience. These variables are lined up with what clients need and need and which brings about higher deals. Without such broad client information and best practices to profit by that information, IKEA would be not able to outcompete its present rivals.
• Continually utilizing advancements to drive costs down. Low costs are the foundation of IKEA business thought and the organization consistently attempt to get things done as productive and financially savvy as could be expected under the circumstances. To drive costs down constantly, the organization must discover new and creative approaches to do that and to fuse them in its organizations model. The business' developments incorporate new materials that contribute more to maintainable condition and are less expensive or utilizing freshest methods for bundling, taking care of and shipping materials.
• Flexibly chain incorporation. IKEA is resolved to dependable associations with its providers. Along these lines, the organization can arrange enormous volumes and advantage from lower costs and more noteworthy quality while providers are guaranteed of ensured orders. IKEA sources its materials near providers to diminish shipping costs. The organization additionally utilizes IWAY way to deal with intently incorporate providers with its gracefully chain. All the endeavors of intently incorporating gracefully chain brings about lower costs and an upper hand.

WEAKNESSES :

• Negative exposure. The organization has been scrutinized commonly for issues like poor treatment of workers, faulty promoting rehearses or campaigning government specialists. Negative exposure diminishes brand notoriety and client reliability.
• Low nature of items and administrations. IKEA can't discover bargain between ceaseless cost decreases while keeping up a similar nature of items. As indicated by UK Customer Insights report on IKEA by Verdict, IKEA's clients are less happy with its item and administrations quality than the normal client in UK purchasing at different stores. Association's cost decreases lead to diminishing item quality, which was trailed by higher number of items returned and harmed brand.

OPPURTUNITIES :

• Further venture into creating economies. Retail showcases developed by at any rate 5% on normal in developing markets in the most recent year, opening immense open doors for IKEA's income development. The organization at present works in a large portion of the created economies yet hasn't solidly ventured into creating economies, with the exception of China. There are extraordinary open doors for IKEA to venture into Brazil, Mexico, Indonesia and Malaysia to build its essence in these business sectors to continue future development.

THREATS :

• Heightening rivalry. Many minimal effort retailers, for example, Walmart, ASDA or Tesco are entering homeware pros showcase where IKEA works. These huge retailers have comparable points of interest as IKEA, including low costs, very much oversaw flexibly chain and colossal market nearness and can without much of a stretch increase some piece of the overall industry from IKEA.

Answer b : Example for SWOT :

STRENGTHS

• Brand notoriety and market nearness. As per Interbrand, IKEA is the most important furniture retailer brand on the planet, esteemed at about $US 12.8 billion out of 2012. The business works 332 stores in 38 nations and is available in the significant world markets. In excess of 600 million clients visit IKEA stores each year. Overall market nearness and solid brand notoriety guarantees that clients will frequently pick IKEA over its rivals.
• Broadened item portfolio. In contrast to IKEA's biggest rivals, the organization has genuinely differentiated organizations. Notwithstanding its furniture items, the organization works eateries, houses and pads. Albeit, company's primary business is planning, assembling and selling furniture it isn't so influenced by the changing powers in this market as other furniture retailers.

WEAKNESSES :

• Standard items. IKEA's principle upper hand gets from low costs, which to a limited extent are accomplished because of normalized items. Normalized items draw in less client fragments. Subsequently, the business powerlessness to offer better quality more modified items permits its rivals to fill that specialty and brace their situation in it.

OPPURTUNITIES :

• Developing on the web deals. Online retail deals represent 17% and 4% of complete retail deals in UK and US individually. Online deals develop continually and with 870 million guests to its site IKEA could misuse this chance and advantage from expanded deals and lower costs.
• Development to developing basic food item showcase. The present pattern of eating more beneficial nourishment has brought about more popularity for basic food item items in many created economies. IKEA has a chance to grow its basic food item business by presenting more markets in its present retail puts. The organization is as of now effectively dealing with its nourishment outlets, so this development opportunity would be very much lined up with the present activities.

THREATS :

• Development of normal shopper pay. Development of normal purchaser salary implies that individuals purchase less low cost and low quality items, which is actually what IKEA offers in its stores. With the rising salary individuals will be less pulled in to IKEA and will go to retailers that offer higher caliber homeware items.

ANSWER 2 :

Critical Success Factors :

• Toto achieve the firm's goals and objectives critical success factor is a crucial step that every firm performs to implement their strategy.
• This critical success factor includes high quality products provides competitive advantages the cost of the product is reduced and has best business professionals.

Key performance indicators :

• the key performance indicator is defined as the quantifiable metrics that form used to evaluate progress towards critical success factors.
• the key performance indicator includes turnover rate of employees resolving the helpdesk queries quickly and total number of product returns and new customers.

To measure the success of MIS PROJECTS :

• It does not generate profit through non revenue generating departments due to which many managers measure the MIS project by turning to higher level metrics such as effectiveness and efficiency metrics.
• The performance of the MIS is measured through efficiency metrics that improve the throughput, speed of the transaction and availability of the system
• effectiveness focuses on goals and objectives of the firm where as deficiency focuses on resources used by the firm.

please up vote my answer. Thank you so much