Table of Contents
1.1 Explain the benefits of having an E-strategy in an organization.
Expended geographical reach.
1.2: Evaluate the contribution of an e-strategy to the achievement of the Value store’s objectives.
1.3: Discuss how to align an e-strategy with an overarching value store’s strategy.
2.1: Analyse the business factors that underpin the requirement for an e-strategy in a value store’s business
2.2 Discuss the benefits of e-commerce to Gregg Plc.
2.3: Develop a plan for an e-strategy that ensures value store to retain its competitive advantage in a global market
Strategies for Competitive Advantage in E-Commerce.
2.4 Specify the technical infrastructure required in an e-strategy plan for Greggs.
3.1 Assess the resource requirements for implementing an e-strategy in an organization.
Greggs plc has available resources that have listed in the above table. Consequently, it can plan for implementing the proposed e-strategy in its business.
3.2 Develop an implementation plan for Greggs plc.
3.3: Assess how the existing business system needs to be adapted to accommodate the requirements of an e-strategy in the Value Store.
4.1: Implement an e-strategy for Value Store.
4.2: Develop a process to monitor the implementation of e-strategy in Greggs.
4.3: Assess how an e-strategy contributes to ensuring a value store’s competitive advantage in a global market.
E-commerce has become one of the most popular tools to gain competitive advantages over other organizations. It is being used to develop new markets, interact with customers, communicate with trading partners, and primarily to increase sales From a consumer and business aspect, electronic commerce can be classified into two perspectives: business-to-consumer and business-to-business perspective, however, for each perspective of e-commerce, the success or failure of its implementation is dependent on some key success factors.
The main objective of this study is to identify the common and specific success factors and the implementation of e-commerce in Greggs Plc. Greggs is the leading bakery retailer in the UK with more than 2000 shops running with about 20,000 staff serving millions of customers every week (Greggs Annual Report, 2013).
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1.1 Explain the benefits of having an E-strategy in an organization
Greggs can benefit from having an e-commerce site for their business in different ways, some of them are discussed as follows:
The online store is available 24/7/365 days of the week, customers can shop at any time that is convenient for them. The direct cost-of-sale for an order taken from a website is lower than through traditional means, as there is no human interaction during the on-line electronic purchase order process. Also, electronic selling virtually eliminates processing errors, as well as being faster and more convenient for the visitor. One of the most tangible positives of e-commerce is the lowered cost. A part of these lowered costs could be passed on to customers in the form of discounted prices.
Expended geographical reach
An organization can operate without geographical limitations; the business can now reach customers globally by allowing customers to carry out business without the barriers of distance on time. This will convert more customers into consumers while expanding the customer base of the company and building strong brand awareness and customer loyalty globally. This would not be possible with a physical shop at a particular location.
Create customer awareness and increase the company visibility in the company targeted market, hence, creating more value for the company
Reduce the delivery time between payments made and time the item takes to reach the customers, increase responsiveness to the customers, i.e., strengthening the business relationship between the customers and the shareholders of the business, hence, increasing the company profitability
Having an online shop is a big advantage; the company can put more items on display. This will promote sales and encourage compulsive buying by customers. The customers can get several brands and products without the hassle, the company doesn’t have stock of all the products it sells, they can use fulfillment centers and dropshipping companies. This will reduce the cost have stocking large inventory; hence, the overhead cost will reduce thereby increasing profit and efficiency.
1.2: Evaluate the contribution of an e-strategy to the achievement of Value store’s objectives
As companies assess the choice of appropriate measures to evaluate e-commerce initiatives, numerous potential issues arise. Since the choices are different for each company, because the strategies, structures, and systems are different, substantial customization is necessary. Senior managers should consider six initial questions that can lead to the development of appropriate measures for e-commerce operations:………..