IFSM 300 UMUC Haircuts Stage 1
A strategy for competitive advantage and improving a business strategy are fundamental for improving a business overall, as competition, customers’ expectations, technology, type, and quality of products and services are changing in time. This paper is analyzing UMUC Haircuts’ cost leadership strategy and improvement of customer and employee scheduling process, following Porter’s Five Forces Model.
UMUC Haircuts Stage 1
I. Introduction
The paper is a business environment analysis for UMUC Haircuts, at the request of Mrs. Myra Morningstar.
UMUC Haircuts has been in business since 1995, and the news that a Hair Cuttery will open five miles away is concerning for Mrs. Morningstar, as she is trying to find ways to remain competitive in this changing environment.
Mrs. Morningstar already selected a strategy for competitive advantage, using a cost leadership strategy. The business process that Mrs. Morningstar stated needs improvement is her customer and employee scheduling.
The following pages will provide solid justification for Mrs. Morningstar’s strategy, for competitive advantage and the business process that she selected. Additionally it will help UMUC Haircuts enter the 21st Century standards, and able to survive in this competitive type of business.
II. Five Forces Analysis
Porter’s five forces analysis is a model that helps any business to understand “how competitive an industry is and to analyze its strengths and weaknesses” (Bourgeois, 2014), and it was applied to UMUC Haircuts in the following table.
III. Justification of Selected Strategy for Competitive Advantage
IIII. Business Process
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