Business Case Study: UMUC Haircuts
I. Introduction:
The purpose of this paper is to help Myra to expand her business and improve her current management practices. Currently, UMUC Haircuts has a lack of IT resources and strategies that will allow Myra to become the leading salon in the area. This paper will provide an analsys of the following components: business analysis, IT solutions to improve business process, an evaluation of IT solutions, communication IT solutions to Myra, and evaluate what it will take to implement IT solutions.
II. Five Forces Analysis:
To start with a business analysis means to talk about Michael Porter 's Five Forces. Michael Porter 's Five Forces Model is a useful tool for analyzing a business. The Model is used to help understand the importance
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• Threat of substitute products or services: Substitute products refer to products in other industries. “To an economist, a threat of substitutes exists when a product 's demand is affected by the price change of a substituted product.” (Substitutes - PlanningSkills.COM. (n.d.).) Therefore, when a product has more substitutes available the demand becomes more elastic and the threat of substitute products becomes higher. For UMUC Haircuts this means that if the substitution is easy and viable, then this weakens its power for competitive advantage. Currently, the threat of substitute products is high and has an effect on Myra 's strategy for a competitive …show more content…
A. Good research, development and innovation will have a positive effect on Threat of substitute products or services and Threat of new entrants.
B. The ability to deliver high-quality products or services will have a positive effect on the Business Power.
C. Large organizations are pursuing a differentiation strategy need to stay agile with their new product development processes. Otherwise, they risk attack on several fronts by competitors pursuing focus differentiation strategies in different market segments. Therefore, this action will have a positive effect on Rivalry and Supplier Power.
IV. Business Process:
UMUC Haircuts needs many changes and improvements, but one of the most important processes that need improvement is that Myra needs to have more training in management skills and create a fast and reliable scheduling process. Improving scheduling will help to respond to changing consumer behavior needs and can have an impact on differentiation and customer satisfaction. If Myra can have a fast scheduling process, her differentiation strategy will be able to target areas that are lacking the presence of technology. Myra should understand that IT solutions could potentially help to improve the process of managing her
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