Student ID Number: 15043695
Key Components of Market Dojo’s existing Business Strategy. Market Dojo a micro e-sourcing company based in the southwest of England (Bristol) with progressive experience and share determination, this commoditized software vendors have been smart/intelligent to acknowledge a gap and carve out their niche to build their strengths, key into their opportunities, reduce their weaknesses and overcome their threats.
To facilitate these processes, certain components have been and are being set in place by Market Dojo to define and capitalize on their business strategy. These facets include:
a) Systems
b) Structure
c) Operations
Systems
Their unique business model is aimed at e-sourcing. With proper data management their …show more content…
With an automated business model, MD had prioritized R and D to keep innovating and drive expectations to a much larger scale by reinvesting 40% of their Returns on investment into research and development. MD’s dynamic and multitasking platform allows for customization making their e-auction software more viable. Also using the Cloud computing paradigm, which has a catalogue of advantages on network collaboration, back office support, shows their awareness and technology savvy. Their proactivity in the market is shown through developing new products such as Category Dojo, Innovation Dojo, Samurai Dojo and Sim …show more content…
Networking:
This e-reverse auction tool benefits an organization through building a network of connections to pool of eligible suppliers.
Real Time Market pricing:
Applying this tool allows for definite timing that not only suits organizations involved in auctioning but allocating the best possible price offers can go on.
Profitability:
Increased efficiency in procurement using this tool immensely boosts profits for an organization and also decreases stock as well as increasing turnover.
Procurement Time:
Asides the convenience of imbuing this market tool in procurement, it is a time saving tool. It takes 30-45 minutes to complete an auction, which is incredible relative to the traditional method that takes weeks to months.
MD’s software tool can as well maximize streams of revenue potential by venturing into immature markets of forward auction, their new credit system also helps them develop cash flows, their diversification in designing various market campaigns and developing add-ons for their software have all been assets too as well as purchase and adoption of software tool by purchasing consultancies and interims.
Key Components of Market Dojo’s existing Business Strategy. Market Dojo a micro e-sourcing company based in the southwest of England (Bristol) with progressive experience and share determination, this commoditized software vendors have been smart/intelligent to acknowledge a gap and carve out their niche to build their strengths, key into their opportunities, reduce their weaknesses and overcome their threats.
To facilitate these processes, certain components have been and are being set in place by Market Dojo to define and capitalize on their business strategy. These facets include:
a) Systems
b) Structure
c) Operations
Systems
Their unique business model is aimed at e-sourcing. With proper data management their …show more content…
With an automated business model, MD had prioritized R and D to keep innovating and drive expectations to a much larger scale by reinvesting 40% of their Returns on investment into research and development. MD’s dynamic and multitasking platform allows for customization making their e-auction software more viable. Also using the Cloud computing paradigm, which has a catalogue of advantages on network collaboration, back office support, shows their awareness and technology savvy. Their proactivity in the market is shown through developing new products such as Category Dojo, Innovation Dojo, Samurai Dojo and Sim …show more content…
Networking:
This e-reverse auction tool benefits an organization through building a network of connections to pool of eligible suppliers.
Real Time Market pricing:
Applying this tool allows for definite timing that not only suits organizations involved in auctioning but allocating the best possible price offers can go on.
Profitability:
Increased efficiency in procurement using this tool immensely boosts profits for an organization and also decreases stock as well as increasing turnover.
Procurement Time:
Asides the convenience of imbuing this market tool in procurement, it is a time saving tool. It takes 30-45 minutes to complete an auction, which is incredible relative to the traditional method that takes weeks to months.
MD’s software tool can as well maximize streams of revenue potential by venturing into immature markets of forward auction, their new credit system also helps them develop cash flows, their diversification in designing various market campaigns and developing add-ons for their software have all been assets too as well as purchase and adoption of software tool by purchasing consultancies and interims.