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Business Strategy Essay

1708 words - 7 pages

Running Head: CREATING A STRATEGY AT KUDLER FINE FOODS

Creating a Strategy at Kudler Fine Foods

University of Phoenix

Creating a Strategy at Kudler Fine Foods
Technology and Business Opportunities
Technology affects the way in which all firms do business. At Kudler Fine Foods, the use of the internet along with other forms of gathering information provides the organization with new insight into market conditions and potential opportunities. Internet sources have increased over the years to provide competitive intelligence in a fast and reliable manner (Turban, Rainer, & Potter, 2003, p. 14). In addition to monitoring the external market forces that affect KFF, the firm has ...view middle of the document...

Moreover, this knowledge can be used to provide changes to meet consumer needs. Among the most important databases at KFF is the customer table that contains demographic data. Enhancing this database to track customer purchases at the point of sale should be one element the management team works on. Another important database is the inventory table. This is used for providing feedback on available quantities of merchandise. Creating cooperative strategies with the local growers of organic produce will increase the need for the inventory database to be accurate (Gomez-Mejia & Balkin, 2002, p. 96). Reducing costs and developing an efficient supply chain may involve local growers stocking their own products. Ensuring that each supplier has access to an accurate inventory will help make this transition successful.
Generic Strategy at Kudler Fine Foods
Kudler Fine Foods must learn to analyze the external environment and how this affects the way in which they do business. Porter’s model identifies five competitive forces that impact any firm. In order to remain successful a business has three avenues from which to achieve a competitive advantage (Koo, Koh, & Nam, 2004, p. 164). Cost leadership is the strategy of lowering overhead and passing this savings to the consumer. Differentiation focuses on offering new and innovative products and services to the consumer thereby separating themselves from the competition. A market focus strategy attempts to capture a particular segment of consumers. From here they either use a cost leadership or differentiation approach (Koo et al.). A firms’ strategy that is developed in response to competitive forces will ultimately determine the success and profitability of the business (Koo et al.).
At KFF the response to the external market environment does not fit neatly into one of these categories. As a result of this happening through the analysis of several businesses, additional competitive responses have been developed (Turban et al., 2003). The generic strategy that KFF is pursuing can best be described as market focus. Gourmet foods are marketed at a small segment of the population. Moreover, management is pursuing a differentiation approach whereby new and innovative products and services are offered at a competitive price. In conjunction with the market focus, KFF is attempting to create strategic alliances with their suppliers (Turban et al.). This is particularly the case with the new produce offerings. If the management team elects to have the suppliers of organic produce take charge of inventory and stocking, this alliance could have positive outcomes for all stakeholders.
Tactics for Implementing Strategy
Designing a business strategy for KFF is only the first part of creating a successful organization. Implementation provides the means to achieving a lasting transition. To be successful the management of KFF will need to continuously adapt to the changing environment of the market. Creating...

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