Blog: Mgt603 GDB No. 1 solution

Semester Spring 2011

“Strategic Management (MGT 603)”

This is to inform that Graded Discussion Board (GDB) will be opened according to the following schedule

Schedule:

Opening Date and Time April 11,2011 At 12:01 AM
Closing Date and Time April 14,2011 At 11:59 PM

Topic/Area for Discussion

“ Importance of Strategic Management ”

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Question:

Total Marks 20
Starting Date Monday, April 11, 2011
Closing Date Thursday, April 14, 2011
Status Open

 
Question/Description

Mr. Faisal is the owner of a business firm for the past 20 years. Before this business, he had worked in a government department for sometime and he had learned the typical paper-based administrative procedures by which the government organizations are run, and he applied those in his business. His business was very successful in the beginning and he earned fame as a thriving entrepreneur. But, recently many of his competitors have left his company far behind, because they are applying the various new concepts of E-Commerce in their businesses. Keeping in mind that by using E-Commerce, an increasing number of companies are gaining competitive advantage, what immediate steps do you suggest for Mr. Faisal so that he can revive his business again and be able to compete with his new competitors.

Solution:

In my opinion, Mr. Faisal should have immediately start conversion of his administrative paper work into E-Commerce, because without adopting E-Commerce, he cannot compete in this global business world. He should have to establish a website for his business to interact with his suppliers, customers and clients. He should also make arrangements for advertisement of his business.

Another Solution:

IMMEDIATE STEPS SUGGESTED FOR MR. FAISAL.
> Mr. Faisal should adopt computerized accounting system in his organization.
> He should changes the old paper work pattern into computerized system for office documents and works.
> He should launch a Business Official Web site. Where he can target his market globally and remain in touch with customers.
> Mr. Faisal should adopt the new pattern of technology for product’s promotion.
> Mr. Faisal can fastly contact with suppliers by using email service.
> He should introduce computerize track inventory system.
> He can aware about his business and products to customer by using web facilities.
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Another:

1. Mr. Faisal should globalize his company through E-commerce.
2. To adopt Virtual Management Information system for management and administration work of the organization.
3. To launch a Business Official Web Site so that he targets his market globally and customers can easily contact with him by using internet.
4. To promote his products/services through his web site and according to the new pattern of technology.
5. Be aware about his business and web technology through his business can run fast.
6. To facilitate customers by providing them customer’s feed back system.
7. To advertise business products/services through web facilities.