Since its inception in 1998, Kudler Fine Foods has successfully operated as a gourmet food store, building a client base within a "niche market," maintaining consistent profitability and expanding from one store to a chain within its first five years of operation (University of Phoenix, 2005). Kudler Fine Foods is proposing expansion to a fourth location and the implementation of several new marketing strategies and company-wide changes in order to introduce new products and services.
Strategic management involves the major decisions, business choices, and actions that chart the course of the entire enterprise (Gomez-Mejia & Balkin, 2002). It consists of the internal and external environment of the firm, definition of the firm's mission, and formulation and implementation of strategies to provide a competitive advantage (Gomez-Mejia & Balkin, 2002). Because these efforts steer the organization in a particular direction and require large resource commitments, strategic management is generally the responsibility of top executives (Gomez-Mejia & Balkin, 2002).
Assess how Changes in Technology have Created Business Opportunities for Kudler
Kudler Fine Foods utilizes technology in several ways to successfully manage its operations. The company has an internet site that allows customers to view the founder's vision of the perfect gourmet shop, what it is and what that encompasses. The site then allows the customer to explore the various departments and their offerings. Ideally, the internet site should entice the potential customer enough to visit the store and make a purchase.
Through the use of technology, Kudler Fine Foods is also able to track purchase behavior at the individual customer level and provide high value incentives through a partnership with a loyalty points program. By incorporating better information management practices and the implementation of new software systems, Kudler's management is... [continues]
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