Current Online System of TBH Confectionery: An Examination - Case Study Example

SWOT ON THE CURRENT ONLINE SYSTEM OF THE THB CONFECTIONERY: Strengths: -Strong business with maximum market share and reputation. - Affordable advertising and marketing of the products - Low staff cost -Pioneer in the online business and generating clients from all over the world. - Greater market share in the global market. - Globally connected supply chain management and customer services Weaknesses: - Zero customer-seller interaction - Less effective management - Lack of data management - Less focus on the ways of customer retention Opportunities: - The pioneer in the confectionery market with the use of modern internet facilities to connect with the customers and the supply chain management. - Product variation - Innovation in products along with stamp and coin date competition. Threats: - New Entrants - Lack of knowledge about different communities, cultures, regions and behaviors. - Emergence of new business communities with effective social presence and data storing management. - Entrants with advanced information technology techniques. Critical Evaluation of the Information Management in THB: The business environment is dynamic in its nature. Business change themselves with the passage of time as they grow and develop. Similarly, THB confectionery was changing with the passage of time; it was growing and developing every year with a strong customer base and market reputation. As a result, the information need of the THB confectionery was also growing rapidly. Companies like THB confectionery who are small or medium sized ones grow with the passage of time. For such companies, it is essential to consider the information needs to meet the business operations with the changing market needs. It is happens with those companies which are small sized and are faced with more effects of globalization, increased overseas competition, globalized supply chain management, expanding to other markets and focusing more on establishing e-business (Winch and Bianchi, 2006). In THB, the company has failed to managed the information effectively to control and manage its business process. The company is using out-dated technology and is not aware on how to manage and control information streaming. According to Rockart (1979), information management plays a significant role in business or business area; if it would result in satisfaction; it would enhance greater competition in the performance within the organization. Tim needs to focus on: How the needs of information can be met for a particular business? How to enable the organization to meet its strategic planning process? How to maintain an organizations information systems planning development? Tim holds limited information on what actually a customer wants? To remain in the business and to expand its business overseas, Tim needs to realize the importance of having information related to customer behavior, competition, cultures, societies, and habits of the customer. In other words, it can be said that THB confectionery had limited knowledge about the people worldwide. Also, with the entrance of new market competitor, it was becoming harder for THB to maintain its business operations running smooth due to lack of information and how to maintain an efficient data system. THB realized that the communities are growing over the period of time on the internet and as a result, it would get hard for the THB confectionery to maintain its market position without effectively managing the data. At this point, it became imperative for THB confectionery to expand its operations, make its internet presence more attractive, build its strong customer-base and focus more on the management of information such as what key strategies are being adopted by the competitors, what customers want, how to establish stronger internet presence and to maintain effective data management system with the help of Tims IT Department. CURRENT SYSTEMS (TECHNICAL AND NON-TECHNICAL) THAT WOULD HELP THE ORGANIZATION TO MANAGE INFORMATION: It is important for THB confectionery to maintain a thorough and effective information management system which should contain all the details required for Tim to help its organization gain the competitive advantage and to gain the performance efficiency. To efficiently manage its information the company is in dire need of establishing an expert data monitoring, data storing and data managing system which would help Tim to assess the required information whenever it is needed. Technically, the THB is in dire need to have a decision support system, expert system, data storing system and advanced information systems to maintain the data related to the customer information, purchase behavior, data of coins and stamps and other information related to business processes. The organization is in dire need to establish a thorough MIS within the organization that can produce fixed reports on routine basis which should also contain all the information related to transactions. It would also help the organization to manage its structured and non-structured data and information like the technical approach as adopted by the competitors of the company. The organization can also benefit itself, if it will implement a comprehensively structured DSS which is most commonly known as Decision Support System. This system is comprised of different applications which can be used by middle management to arrange and store data or the information more thoroughly. It would help the organization to analyze the information in order to make a decision or to solve any problem. Non-technical ways of storing information include the use of software that include simple maintenance of the information storage and recovery when needed in the simplest manner. The nontechnical ways of storing data may include the information storage on Quickbook, Excel files or by installing small information management software. FACTORS EFFECTING THE SYSTEMS IN ITS EFFECTIVENESS: Among many factors effecting the implementation and smooth application of the system; three of the most prominent factors are: - Employees lacking the understanding of the information system. - Organizations failure to meet the need of implementing the system in the right way. - if the organization is structured traditionally; it would be impossible to implement and apply a smooth information system. SOCIAL MEDIA NETWORKING AND OPPORTUNITY FOR THB CONFECTIONERY: It would be important for THB confectionery to implement social networking and to effectively use the social media network in order to expand its business. It would help the organization to go global. It would also help the organization to meet the requirements of the customers all over the world. It would help in more customer base, effective advertising, greater opportunity to expand its business operations and to hold a greater competitive advantage. To expand its social media network., Tim would need to incorporate more employees with the knowledge and expertise of internet marketing, information handling and how to promote business through a single platform. At this point, Tim would need to expand its IT department and to train employees more effectively and should tell them how to target the customers, how to provide them maximum customer satisfaction by developing direct interaction and communication with the customers from all over the world. A strong internet presence through social media networks would help THB to grow more and to become highly competitive in the market. It would also benefit the organization to enhance its information regarding different cultures, regions, customers; their behaviors, attitudes and habits. With direct interaction with the clients, Tim s organization would become more attractive, competitive and productive for the customers, employees and the owners. Reference: Rockart, J.F. (1979). Chief executives define their own data needs. Harvard Business Review, 57(2), 81-93. Read More