Projected IT Strategies to Enhance the Business Model of BeeKeep Supplies
BeeKeep Supplies is a well-known business that sells beekeeping equipment to professional beekeepers. These guys have been around since the ’70s and have had a lot of success since then. Initial ownership was passed on to the following generation. As part of this research, BeeKeep Supplies marketing strategies are examined while keeping in mind the IT techniques that must be created to enhance the operation.
Projected IT Strategies to Enhance the Business Model of BeeKeep Supplies
As the new chief information officer, I must develop new tactics to help the company become the best version of itself. Previous operating models have been effective, but with shifting consumer dynamics and industry threats. In order to remain flooded throughout the pandemic, a far deeper collection of experts must be put together. Corporations across the globe suffer since they cannot alter the shifting times. Now, more than ever, consumers need trustworthy sources that will not only protect their interests, but also help them to achieve a better future.
As a recognized company formed in the 1970’s, the company is capable of serving its clients at its finest. This was particularly important during the epidemic when many small companies were impacted. Given how our clients are beekeepers, it is essential that we develop methods to store them and make them suffer the least possible setback.
One of the company’s increasing concern is the potential of rivals like BeeBest to effectively utilize the exclusively online approach. BeeKeep should also have IT capabilities that enable it to solely depend on the online approach if necessary. This was the situation in most companies throughout the epidemic since social distance was essential.
One method of turning BeeBest’s focus away is to create a more dependable online community that can meet all consumer requirements. From guidance to even local organic goods becoming accessible via internet stores. The customer should feel that BeeKeep’s life is easier than it has been in the past.
BeeBest has been able to cut costs and offer basic service, which is not BeeKeep’s policy. Therefore, the online platform developed by the company should be able to offer 24-hour phone assistance. This would also assist in maintaining the store online, like the environment, since consumers may get guidance on any queries they may have.
As a company our aim should not be to take the same strategy as BeeBest and cut corners in order to gain immediate customer attention. The aim is to provide the same level of service that customers are used to in-store just in a more flexible online community. Furthermore, with the age-old legacy that the company has been able to develop, the next aim should be to develop new product offerings in the same market.
Here, the internet platforms may be a wonderful way to promote Pippa’s new range of organic goods. This means that internet stores may assist in creating tests to help clients find the finest organic goods to suit their requirements. In addition, price comparison tools may also be included on the company’s website to offer a pricing comparison for specific clients.
New markets may also be reached via the online approach in the future. Even while the age-old dependency on the store should not be totally terminated, the company may utilize the online model for difficult market entry where companies such as BeeBest are not yet established. As these under-served markets are untapped capabilities, accessible through the varied and flexible internet approach.
Online stores will also let the company shift away from the closeness of too many warehouses. IT initiatives may be used to identify the inventory as separate warehouses, therefore providing the lowest amount of storage costs paid by the company. By eliminating some warehouses, the company may also free up some money and reduce overheads, enabling it to compete with BeeBest for the price.
Company will need to be more mobile in the future as the new era of consumers focuses on the online presence of companies. These companies must be fast to support consumers with a wide variety of requirements. That is why it is important for BeeKeep to understand that it is not too late to modify the way it serves the market.
As was shown by the epidemic, companies who were able to shift quickly to the internet model could remain on the ground. While those who were entrenched in their ways suffered most. As consumers eventually switched to other market rivals,
SWOT stands for Strengths, Weaknesses, Threats, and Opportunities. A SWOT analysis may help a company decrease the risk of failure in the future by identifying what they lack and how they can remove the risks of their firm. With Bee Keep Supplies’ IT strategy in mind, a SWOT analysis will be performed in this report.
- Strengths: Strong financial backup with 30 regional stores operated by family members with extensive expertise and understanding. They are aware of the customer’s needs and desire to adapt to those needs.
- Weaknesses: Operating a postal service solely and only selling goods online without correct information that is not good at all.
- Threats: Covid-19 has affected BeeKeep supplies operations. The limits on quarantine have caused the company to shut the stores. They have a tremendous rivalry from other rivals in the same sector that conduct internet company.
- Opportunity: The firm CEO and CIO intend to spend a large amount of money in the implementation of novel IT systems to improve the functioning of their new company model. They aim to offer organic honey and other goods from bees in the shop. They have to offer organic brands for the younger generation who are environmentally aware.
A company’s value chain, according to Porter, is made up of a sequence of activities that occur from the acquisition of raw materials through the delivery of goods to the post-sales facility. With this approach, each of the nine phases may be changed to add value to the project.
Inbound Logistics: Thirty regional stores, each with its own warehouse in a designated 30 cities, have been operated by the same family-owned business since 1970.
Operations: The business has significantly benefitted from the family’s managerial succession. New CEO and COO’s vast knowledge and experience are key to the company’s operating strategy.
Outbound Logistics: Customers may order goods over the phone or by mail, or they can pick them up at the shop. Throughout the future, they want to open urban shops in Australia.
Sales and Marketing: The company’s goal is to develop eco-friendly goods for Australia’s youthful generation., Bee Pure Organics is the brand they want to market under in this respect.
Service: The customer service at Bee Keep Supplies is excellent, and they pay close attention to any comments made by customers. They offer a lot of testimonials on their website from people who have used their goods.
Procurement: Acquisition of raw material is done on a timely basis from their own warehouses.
Technology development: Bee Keep Supplies invests in new technologies that may alter their business strategy and allow them to sell their goods online via great internet portals.
Human Resource Management: This business has established its market dominance over the last 35 years by employing the right people.
Firm Infrastructure: Bee Keep supplies have an established infrastructure with significant financial backing that can sustain the pandemic.
Assigning each weakness and threat in Porter Model
Weakness in Outbound Logistics : Bee Keep Supplies relies only on the postal service. Now that the consumer is smart, he is looking at as many options as possible in order to find the perfect item for his budget and his needs, as well as the right thing for him. Visitor information is lacking on this site, resulting in poor logistical execution.
Threat in Operation: The pandemic, Covid-19, has completely shut down BeeKeep Supplies’ operations. Despite the management team’s vast knowledge and experience, they are unable to solve the problem since it is out of their hands.
Assigning each strength or opportunity in Ansoff’s Matrix
Strength in Market Penetration: Bee Keep’s strong financial support and generation-savvy knowledge will help to boost the sales of the existing bee-related products already on the market. They are able to quickly enter the market because of the consumer’s needs.
Strength in Product Development: The idea of producing organic honey and other goods to appeal to the modern era will help to launch new products on the current market.
Strengths remedy a weakness:
An investment in new IT technology will be made by the business to increase the efficiency of its operations and online sales. For every firm, changing its business model is an excellent way to show dominance over its competitors.
Threat addressed as an opportunity: Bee Keep’s suppliers may be able to remove their competitors with the new business model by using IT methods. In the case of beekeeping supplies, for example, beekeeping supplies are reducing their prices in order to eliminate the competition. A superior organic product may be created by Bee Keep, and the customer may have the option of returning money to the custodian if Bee Keep’s product exceeds Bee Best’s. As a result, the risk would be eliminated.
|Strong financial backup with 30 regional stores||The company owns and operates thirty regional stores||Can boost sales by investing money|
|Extensive knowledge and experience||Owns a raw material warehouse|
|Conscious of what customers want||Product Development|
|As a novel product, producing organic honey|
|Weaknesses||Operations||Addressed by strength|
|Only mail service is available.||It’s a family-run business||Consumers will be helped by new IT models.|
|There is no internet site for smart technologies.||Management with a wealth of experience and expertise|
|Installing cutting-edge technology||Telephonic or mail order|
|Plan to promote organic products||Metropolis store concepts for the future|
|Threat||Sales & Marketing||Addressed as opportunity|
|Pandemic has interrupted operations.||Make organic products part of marketing strategy|
|Competition may be reduced if high-quality products are produced at lower costs.|
|Technology and Development|
|Produce and operate innovative technology planning.|