Running head: KUDLER FINE FOODS MANAGEMENT
Kudler Fine Foods Management
University of Phoenix
Managing the Business Enterprise
Kudler Fine Foods Management
There are many businesses in the U.S. owned by women. According to the Service Corps of Retired Executives (SCORE), a nonprofit organization dedicated to entrepreneurial education and the formation, growth and success of small businesses nationwide, women-owned business account for 55% of new startup business in the U.S. (SCORE, 2006). Kathy Kudler opened three Kudler Fine Foods stores that sell domestic and imported gourmet items (Kudler Fine ...view middle of the document...
Employees’ performance must be evaluated to ensure they are meeting or exceed the standards and objectives of the company. Those not meeting the standards must be counseled and provided feedback on ways to improve their performance based on procedures established through operations.
Yvonne Reynolds, Director of Store Operations, is responsible for leading and managing all aspect of operations in the three stores. She must create a positive work environment that promotes harmony, dignity, sensitivity, and respect in a diverse environment who evaluate individuals based upon merit, capabilities, and potential. Next, is Finance and Accounting.
Harvey Stephens, Director of Finance and Accounting, is responsible for organizing the company’s human, financial, physical, informational, and technical resources who allows the company to meet the objectives. He must accurately track revenue, receipts, and expenditures which can be made easier through the use of technology.
Kudler Fine Foods management uses technology and the internet to serve current customers as they attempt to attract new ones. Management is developing training programs and software to facilitate customer service training for employees. The company plan to make the websites look good by adding a prototype delivery of multimedia (videos, news and stock ticker, sounds) to make it look good. Not everyone agree with this use of technology and the internet. Findings suggest that while majority of retailers use the internet to improve company image, greater pay-offs come from offering more online services, particularly those that may be used by customers in the acquisition process such as e-mail, online ordering, and post purchase support (Levenburg, 2005). Kudler must continue improve operations based on Porter’s five major competitive forces model.
Dr. Michael E. Porter’s five major competitive forces model: the threat of entry of new competitors, the bargaining power of suppliers, the bargaining power of customers (buyers), the threat of substituting products or services, and the rivalry among existing firms in the industry (Turban, Rainer, and Potter, Chapter 13, pg. 612). What are some examples from Kudler Fine Foods that illustrates each of the five forces of Porter’s Model?
New competitors into the gourmet industry face a number of barriers similar to what Kathy faced when she started the company. Start-up money is a must for any business so it was not surprising that Kathy had to obtain financing to start her business. Kathy faced economic barriers by having to contend with prices and costs already established by competitors. Her decision to expand the business by opening up another store will increase the amount of market share the company own and make it harder for competitors to enter the market. This brings us to the power of the suppliers as our next example.
The power of the supplier is the next example. Kudler maintains loyalty...