Kudler_Env._Scan

Kudler Fine Food was established in 1998 by Kathy Kudler. Kathy’s dream of creating her own gourmet food store was made a reality and since then, Kudler Foods continues to grow steadily. Present day, the business had three stores, but is considering establishing an additional store. The Executive Team at Kudler desires to grow more rapidly; since this is true Kudler’s team must consider some alternative strategies. In order to assist any business in setting future business objectives and to achieve goals, planning and strategizing have to be put into action. Kudler Fine Foods will have to assess the changes that need to be made to generate new business opportunities. Once the changes are made, the team at Kudler will need to spot the strategies that would succeed, and inform management how they can continuously research the industry to obtain ideas to understand its new vision and mission. In order for Kudler Foods to take full benefit of its opportunities, the company needs to be conscious of its internal and external factors; factors that will influence the company’s performance. Being watchful of its internal and external factors, the company will be able to respond appropriately to its competition. Internal and External factor assessment involves applying the following techniques; these techniques will reveal the company’s potential: • SWOT (Strength, Weakness, Opportunities, and Threats)- An analysis in which an organization’s internal strengths and weaknesses and its external opportunities and threats are closely examined. • Value Chain analysis (VCA)-A model of how businesses obtain their raw materials, add value to them, and sell completed products to consumers. • Resource Based Value (RBV)-Based on the value-creating aspects of the said strategies. These are measured using expected cash flows that are discounted under approved rates. Internal Analysis focuses on the internal factors of a business that gives it advantages and disadvantages dealing with meeting its target market needs. Strengths are factors such core competencies which provide a business with benefit in meeting it target market needs. Internal factors are described as ease of use and worth of workforce, capability of equipment, financial capacity, and engineering aptitude to create products and standards, costs of production. The External Analysis pinpoints the opportunities and threats that are in the said environment. A few examples of external factors: the density of the products provided, the customers that have affect on the company, the delivery timing requirements, and the quality of supplies, cost changes, and the company’s availability. Assessing all of it influencing factors, Kudler should be able to use them to its advantage in the opening of its new store location. They should not only look at these factors alone, but also research the factors that had an effect on their previous locations and learn from them. Putting both tactics into play, Kudler’s new location should do well with competition and remain a tough competitor.