Business Competition How Business Can Be Competitive - 275 Words

Business Competition: How Business Can Be Competitive? (Research Paper Sample) Content: STUDENT NAMEINSTRUCTORS NAMECLASSDATE OF SUBMISSIONQ1.INTRODUCTIONThe five force model analyses the five forces that determine the competitiveness in a business, which are; supplier concentration, buyers volume and leverage information , competition, new entrants and barriers in the market and substitution from other products or buyer inclination to substitute products.Kelly chosens has used a few strategies to increase her competitiveness for her business which are as follows; opening her business in a strategic position to gain competitive advantage from other competitors. When she located the position for her barbershop it was the only one within a ten mile radius. She expanded her business to include haircuts for both men and women, adding styling stations and shampoo station for her business to increase the number of customers.Kelly chosens is optimistic that her business would grow if she improved on scheduling her supply, managing her inventory properly. But her greatest challenge is managing her employees and matching them with her customers. She has also noticed that she has to deal with the challenge of turning away walk in customers because she does not have information for her customers. Even if Kelly keeps track of her supply she does not have time to place orders and she does not have time to check if she can buy her supply at a lower cost. She has no data of her customers but she would like to contact her customers and also reach out to new customers to increase her profits and expand her business too (Mind Tools, 2017).Q 2.Table of functional business requirementSteps in the appointment process Process steps Step from customer appointment process model InputInformation entered ProcessThe action taken when data is entered OutputFeedback expected from the process. 1. Customer logs into system Services sort by the customer The system searches for available employee and the time taken for the customer to receive the service The cu stomer receives a receipt from the receipt machine. 2. Kelly logs into the system