T&F Company: Transforming the Enterprise with IT

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The response addresses the queries posted in 1890 words with references.

//Before discussing about recommendations for quality improvement, initially, we should get adequate knowledge regarding current situation of the Company. So, we will discuss about Company's current situation.//

It is not very good news that this is the third time this year when our competitor has launched a new product, which is more advanced than our product CADgold, and we have come to know about it when it has been printed in an architectural journal. I do agree with what you said in the meeting that if we do not adapt out business model into present networked economy, our competitive edge would become weaker and this might have been the cause for our unawareness about the competitor's new product launch. With this, our weaknesses of not utilizing the Internet technology and unawareness of our company among prospective customers have also worsened our condition.

Despite having loyal customers, strong reseller network, good product, focused staff and competitive product prices we are unable to capture a major share of the market because we are facing some weaknesses of low profit margin due to high operation cost, not using e-business facility, unaware prospective customer and declining growth rate. Anyway, we cannot stop our competitors to operate in the market and launch the products, but we have to use some strategies, tools and techniques that enable us to compete with our competitors in growing competition.First of all, we need to work out on our weaknesses and external threats, and then build a new strategic plan because rapid changes in business environment demand a strategic perspective. The SWOT analysis of our company has shown that e-business development and implementation is quite necessary for the growth of our company because the competitors of our company are using Internet to enhance their relationship with customers.

//After getting abundant knowledge about Company's weakness and competitive position, we have become to carry forth the discussion. So, we will hereby, discuss some recommendations, which can help the Company in improving its competitive position.//

Recommendations

Implementation of E-business

I would like to suggest e-business as one of the solutions that we may use to build more market opportunities and enhance the customer relationships. Electronic business is commonly known as e-business. In e-business, all the business activities are performed using information and communication technologies (ICT). With the help of electronic business methods, companies can associate their data processing (both internal and external) system more efficiently and flexibly, better fulfill the expectations and need of their customer and better communicate & work with partners and suppliers (Beynon, 2004).

Please do not get confused with e-commerce and e-business because there is some difference between e-business and e-commerce. E-commerce involves an electronic transaction between supplier and customer using the www (world wide web) or the Internet instead of making direct physical contact. E-business is a combination of e-commerce (business to customer (B2C)e-commerce, business to business (B2B) e-commerce, supply chain management (SCM), online marketing and Internet shop), internal business ...