I. Introduction:
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 analysis of the following components: business analysis, an evaluation of IT solutions, and communications, and an evaluation of what it will take to implement solutions.
II. Five Forces Analysis:
Michael Porter's Five Forces Model is a useful tool for analyzing a business. The Model can be used to understand the impact that the five forces have on a business and to determine a strategy to use to develop and maintain a competitive advantage.
FORCE EXPLAINATION IMPACT AFFECT STRATEGY
BUYING POWER This is the power of customers have to drive the success of a business. UMUC Haircuts’ success has been increasing, thus the Buyer Power for UMUC haircuts is high. Despite there being several different barbershops and spas in the area, customers have been choosing and staying loyal to UMUC Haircuts. Myra currently has the competitive edge in the market. Long term, Myra must develop a strategy to keep competitive advantage. Customer service will become a key aspect to her keeping this advantage. YES
SUPPLIER POWER The number of suppliers, the unique nature of their product, and a …show more content…
Myra’s strategy for competitive advantage is Scheduling. She has decided to set UMUC Haircuts apart from its competition by implementing a computer system that will link her stylist’s schedules and allow clients to book online with their preferred stylist. By allowing clients to see when their stylist is available, clients will be able to pick the best time for them and not just the first appointment
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 analysis of the following components: business analysis, an evaluation of IT solutions, and communications, and an evaluation of what it will take to implement solutions.
II. Five Forces Analysis:
Michael Porter's Five Forces Model is a useful tool for analyzing a business. The Model can be used to understand the impact that the five forces have on a business and to determine a strategy to use to develop and maintain a competitive advantage.
FORCE EXPLAINATION IMPACT AFFECT STRATEGY
BUYING POWER This is the power of customers have to drive the success of a business. UMUC Haircuts’ success has been increasing, thus the Buyer Power for UMUC haircuts is high. Despite there being several different barbershops and spas in the area, customers have been choosing and staying loyal to UMUC Haircuts. Myra currently has the competitive edge in the market. Long term, Myra must develop a strategy to keep competitive advantage. Customer service will become a key aspect to her keeping this advantage. YES
SUPPLIER POWER The number of suppliers, the unique nature of their product, and a …show more content…
Myra’s strategy for competitive advantage is Scheduling. She has decided to set UMUC Haircuts apart from its competition by implementing a computer system that will link her stylist’s schedules and allow clients to book online with their preferred stylist. By allowing clients to see when their stylist is available, clients will be able to pick the best time for them and not just the first appointment