Business Strategy - Kudler Fine Foods
RUNNING HEAD: BUSINESS STRATEGY of Kudler Fine Foods
Business Strategy of Kudler Fine Foods
University of Phoenix
INTRODUCTION
Kudler Fine Food’s current business strategy is defined in its strategic plan. In the strategic plan, the organization’s strengths, weaknesses, opportunities, threats, and competitive analysis are clearly defined. Kudler has adapted an innovation strategy to restructure the company in order to ensure continued growth and success. The innovation strategy decisions are made apparent in the company’s decision to expand its technological capabilities through the internet, expand its geographical market, and enter into new markets like a catering service. Kudler could also ensure success by adapting Porter’s Competitive Forces Model to increase its competitive edge. The information revealed in the model can be used to continually to refine and realign the company’s strategic plan and to understand how to stay ahead of the competition within the fine food grocery industry.
INNOVATION STRATEGY
Innovation strategy involves “developing new products and services, new features in existing products and services, and new ways to produce or sell them (for example, via the Internet)” (Turban, 2003). Kudler Fine Foods has adapted an innovation strategy within its strategic plan. Kudler has identified the need to add more product line as the company’s grows, offer more catering services, and expand the company outside of its current geographical location. These opportunities align with the innovative strategy as they involve the development of new products and services and expansion of existing products and services. Kudler has also exemplified its use of the innovation strategy through its recent expansion of its technological capabilities.
INFORMATION TECHNOLOGY
Information technology (IT) plays an important role in creating business
opportunities for Kudler Fine Foods. Information technology is defined as “the study,...
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