QUESTION 1: LIST THE BUSINESS MODELS USED BY M & S Product/ Service Customization Model M & S moderately or diligently aligns its products and ideas based on the dynamic or ever transforming market trends and fashion needs. According to the case study, M & S is highly concentrated in the fashion industry and its ever-growing demand for its exclusive garments and customized accessories. Hands-on approach is mostly utilised by modelling agencies to fulfil the industry’s standards, and in the process valued customers attain assistance from M & S to enable open communications pertaining to the required alters to be made to placement orders. M & S has put in place two forms of communications to assist customers who require to voice out changes …show more content…
M&S accomplished the goal of merging its global outlets and in the process transforming them into well designed website that offers web based catalogs showcasing all of their product categories that are on sale. The website enables potential buyers to have detailed description of the product before purchasing. With more detailed description of the products, customers can make intelligent decisions before buying and be able to make payments via various payment channels like debit and credit cards. Chan H (2001) states, “note here that the business drives the specification of the product and the consumer chooses whether or not to buy a prefabricated product. An example of this in the traditional commerce is purchasing suits of the rack”. Business to employee Business to employee is an e-commerce model in which an organization delivers services, information, or products to its individual employees. The B2E category is a subset of the intrabusiness network, therefore it provides conducive and confidential working environment (team members/individuals) employees of an organization. M&S maximizes the use of the EC initiative by setting up a security system that tracks down fraudulent activities within the organization, and generates reports that are instantly conveyed to the security department. As a way of strengthening the security, M&S implemented a quick notification of fraudulent activities through short text messages (SMS) via mobile
Over the last 129 years M&S has grown from a single market stall to become an international multi-channel retailer. They now operate in over 50 territories worldwide and employ almost 82,000 people. Remaining true to their founding values of Quality, Value, Service, Innovation and Trust, we work hard to ensure our
M&S are one of the UK's leading retailers of clothes, food, home products and financial services. Some 10 million people shop with us each week in over 375
Issue two. Based on the premise that most of the managers have BlackBerry devices for instant communications and all employees are provided cell phones, you must research and detail the cryptography methods to protect organizational information using techniques that ensure its integrity, confidentiality, authenticity, and non-repudiation, and the recovery of encrypted information
Employers are discovering that employee emails and telephone uses are starting to have an impact on its business. Therefore, employers are trying to protect the company's investment, by monitoring employees email without being invasive. Employers can use, computer software, which gives the employer the ability to record how much time the employees' spend on his or, her email account, without having to read the employees email
Technology and Information Systems- the Company will continue to expand its e-commerce business in the future. Its e-commerce sales today gross over one billion. Its plan is to focus on continued profitability with online sales. Part of the plan included a full assessment of the online business to analyze the main areas of functionality and online improvements. It will also continue its Omni channel capabilities, which includes shipping to store and in-store pickup exclusively during the holidays. Due to the rapid growth of mobility, over 50% of its e-commerce sales
The company’s brand image in clothing and increasing business in food sector together with successful marketing strategies will ensure sustainability of business. M&S is investing in Multi-channel store (online stores) to increase its capabilities in this field which will be fruitful for the company in future as it already showed quit improvement in online sales. Further, the company’s commitment
Although the market for separates is certainly viable given promising growth in test markets, it is not a market that makes sense for Hart, Schaffner & Marx (HSM) to compete in. The trend certainly shows a divergence in how some customers view their needs with regards to semi-formal clothing, but the firm runs the risk of diluting not only the perceived quality of its clothing, but also alienating its current client base that is partial to the experience HSM offers in its stores. This experience includes personalized expertise on new fashions, custom tailoring, and the status associated with purchasing and wearing the company’s clothes.
While all of these technologies have enabled exciting changes and opportunities for businesses, they have also created a unique set of challenges for business managers. Chief among all concerns about technology is the issue of information security. It seems to be almost a weekly occurrence to see a news article about yet another breach of security and loss of sensitive data. Many people will remember high profile data breaches from companies such as T.J Maxx, Boston Market, Sports Authority, and OfficeMax. In the case of T.J. Maxx, a data breach resulted in the loss of more than 45 million credit and debit card numbers. In many of these incidents, the root cause is a lack of adequate security practices within the company. The same technologies that enable managers can also be used against them. Because of this, businesses must take appropriate steps to ensure their data remains secure and their communications remain
The use of information technology in business presents major security challenges, poses serious ethical question, and affects society in significant ways. Especially, the computer crime is a growing threat to society and is caused by the criminal or irresponsible actions of individuals who are taking advantage of the widespread use and vulnerability of computers and the Internet and other networks. It presents a major challenge to the integrity, safety, and survival of most business systems.
A good example is a children?s clothing store. They must be able to understand what has made their competitors like Carter?s and
The company has beliefs that the custom printing will target a huge segment of clients, who are in need of quality printing. The management team wants to serve a competitive price depending on the design.
A popular goal for many businesses, especially in the fashion industry, is to provide quality products to customers. Especially within the world of fashion, keeping customers loyal and happy is important for any business, because customers mean sales and sales mean profit. Therefore, this is why providing quality products is one major goal of Ralph Lauren’s mission statement. Ralph Lauren understands how having quality products that satisfy customers impacts the loyalty of customers as well as the growth and continuation of the business. When customers are not happy, they do not buy. Also, when customers do not buy, they generally go to competitors. Furthermore, when customers are not happy, they often tell others of their displeasure. Word-of-mouth
M&S target market was to attract more people to their stores, usually people that visit M&S has an average income. M&S will provide a better offers for the customers. The shop has quite high prices for products, so not everyone can afford it. That is one of the main targets of M&S. As well as they targeting for different gender as M&S provides women’s and mans wear. Also targeting for people interests, for people who are interested in a cloth with a good quality. M&S targeting their
‘Fashion industry is characterised by short product life cycles, volatile and unpredictable demand, tremendous product variety, long and inflexible supply processes and a complex supply chain.’
In the business world, strategy is probably the most often used and the most often confused term. The article ‘Why Business Models Matter’ clarifies and elaborates on crucial element of any organization. The Author, who also wrote, ‘What Management is’ asserts that the business model and strategy is the basis of any organization whether it be profit or non-profit. Magretta shows the outlines of business model and strategy. To make a big success in business, the first step is making a business model, when making a new business model, managers must think about all possible outcomes. She goes on further in the article to give examples successful organizations and their use of strategies to compete within the industry.