Analysis Of Porter’s Model For Big W And Importance Of Information Security
Mobile applications and their role in business enhancement
Mobile applications are the most famous applications in this era of internet. The mobile applications help to access the internet very fast which mainly has a limit in desktops and other physical devices (Kim et al., 2014). The applications of mobile are playing an important role for the businesses that deals with large customers and the workforce that rely on convenience access of information. Customers are spending most of their times online and with other social media on their mobile phones. The time that is spend by the users on their mobile phones has increased about 575% in past three years and among them 80 % of the user spend their mobile time using the apps of the phone. The center of mobile apps is the Internet of Things and the applications that are used by the customer usually responsive websites. So, businesses use mobile applications to expand their business and services among the people. They want to connect with their users and engage them in their business. The business can emerge many opportunities by the mobile applications (Song et al., 2014). Businesses in Australia also use mobile apps so that they can invigorate the value of business proposition and also enhance their interaction with the customers. Example of business who uses mobile applications is The Nook who uses mobile application for their business enhancement.
Big W follows a simple strategy to enhance their business. Their strategy is to develop a team, improve the processes of the company, and then reduce the cost. They also develop a cohesive brand and update the offering of the product (Mohajeri et al., 2014). The last strategy is to refresh all their stores at right time. Porter’s five forces are competitive rivalry, buyer power, threat of submission, supplier power, and the threat to new entries. All the online shopping sites that are used face a huge competitive rivalry among themselves. As there are numerous number of online shopping sites, Big W faces many challenges from other companies as well. Porter’s five model defines competitive rivalry for Big W to provide best quality product and give best service to their customers. Big W must give discounts on their products on all their stores and sites to attract more customers. The next force on Porter’s model is the new entry threat. Many new companies are establishing every day and that is the difficulty that is faced by Big W. They feel the insecurity of being getting diminished. Big W has to give best service and offers to their customers so that the customers do not get their products from other online sites (Bornemann & Wiedenhofer, 2014). The next is the supplier power in Porter’s model. Always there exists an uneasy relation between the supplier and the company. Big W can make the relation between them better and make new policies and strategies in their transaction process. The fourth force in Porter’s model is the buyer power. The ultimate power is in the hand of customer when it comes to shopping products online. If the customer is not satisfied with the quality of product or the quality of services provided by the company, the user will not buy anything from that site in future. The price of the product also plays an important role in the buyer power. The buyer has the power to change their choice from one to another as there are huge numbers of choices available with them. There is also threat of substation in the forces of Porter’s model. There are numerous numbers of similar products that are available in the market. Big W has to suppress all those quality of products to sustain in the market.
Porter’s value chain model for Big W
2. All the computers that are connected to the internet have some unique address. The addresses of the internet are in aaa.aaa.aaa.aaa form where aaa must be some numbers from the range 0-255. This address of the internet is commonly known as IP address (Griffiths et al., 2016). An IP address of the systems is used to connect the systems to the internet. If the internet is connected through an ISP (Internet Service Provider). These ISP are assigned as temporary IP address in the duration of the session. When a system wants to connect the other system through internet and wants to transmit some messages, then the IP addresses are generated. This transfer is possible with protocol stack. The protocol stack of TCP/IP protocol is mostly used for communication process (Wallace, 2015). The application layer in the TCP/IP protocol has protocol that is specific to the applications which includes www, e-mail, and FTP. The transmission control of the protocol layer directs the packets of data to particular application using a port number. The internet protocol layer directly directs the packet of data to particular computer by the use of the IP address and lastly the hardware layer converts the binary packet of data in to networking signals.
3. Master Data Management is used in business to eliminate all the same type of data that are inconsistent and redundant in the organization. More than 27 % of the organization’s revenue is wasted because of inaccurate master data management (Schoenherr & Speier?Pero, 2015). The master data of an organization is a management which has all the details of the customers, sellers, and products of the organization. Organizations now a days struggle to implement the information system which facilitate and supports the requirement of the business. Most of the companies claim that they can analyse only 12 % of the data that are available with them. This leads to miss out the rest 88 % of data. Master Data Management provides the company with seamless information across the multiple channels. They help to understand the customer in a better way. All the operations can be viewed properly with all the data assets that are available with the organization (Gudivada, Rao & Raghavan, 2014). Master Data Management helps to keep the data safe and gives very high quality of data. All the systems that are used by the company are connected by using Master Data Management. The tool of master data combines all the system of the organization.
Explaining how the internet works
4. There are many importance of information security in a management. Information security is considered as a prime concern to any kind of management. This is because the information security helps to secure all the information which includes the digital, information that are paper-based, company secrets, the data that are stored on the cloud, intellectual property and many more personal information of the employees working in the organization (Soomro, Shah & Ahmed, 2016). Installing and maintaining an information security also gives a good protection to the network against the cyber-attacks. Information security also gives a framework to the organization to manage its data safely and securely all in a single system. All the technological risks and also other threats including ineffective procedures and staffs that are poorly informed can also be mitigated by information security. The management who uses security threats can manage the risks evolving in the organization that are held inside the organization as well an in the environment. Managements of organizations spend lot of money in securing their network which might not even be successful (Lin, 2014). Information system helps to reduce the cost of managing the risks that are associated with the organization. The integrity of information on the network of the organization, availability, and confidentiality of data are all protected by the information security management system. The culture of the organization is also improved by information security system.
5. Social media helps to recognize the brand of the company. Advertisers generally increase the visibility of the company they are working for. Social media is one of the best way to the voice of the brand. Social media also increases the loyalty of the brand. Social media helps to connect with the customers and the customers are mostly loyal to the brands which they see in the social media. The plan and strategy of social media can influence the morphing customers to be a brand loyal customer (Fulgoni & Lipsman, 2014). With all the advertisements that are done by advertiser on social media gives more new opportunities to the brand and can access old customers, recent customers as well as all the new customers. This also improves the interaction process with the customers. The conversation rate with the customer is increased with the help of social media. The humanization element of social media is the most important feature of social media. The advertisers can make the brand more humanized by the interactions that are made in the social media (Ashley & Tuten, 2015). On social media, the brand generally acts like people and people are doing businesses with other people who are the customers of the company. Social media improves the credibility and the trust of the brand.
Master data management and its importance for companies
6. Mobile computing is known as a wireless connection of the real time that is usually done in between some mobile device and some different computing elements which generally includes intranet and internet. Mobile commerce is also known by the term m-commerce which includes transactions that are done on mobile devices (Hu et al., 2016). The wired computing traditional method is being replaced by mobile commerce and wireless technologies. The entire IT field is reshaped by wireless infrastructure of mobile computing and m-commerce. Wireless communication enables to make some productive use of the time that is normally wasted. Wireless communication on m-computing as well as m-commerce helps to work even while travelling. The devices having wireless communication allows the user to carry the system with them making the system more flexible (Khodashenas et al., 2017). The wireless technology also helps to schedule the work time around professional and personal obligations. Wireless technology generally has higher bandwidths that are relatively inexpensive. Mobile phones are used more for m-commerce with the use of Wi-Fi because it makes the user to work in much easier way. The user can carry their smart phones anywhere they want to and work more efficiently.
7. Web plays an important role in management of human resource. Technology has changed and has influenced mostly in the HRM (Human Resource Management) sector of an organization. The web technology has changed the roles of professionals in human resource management to large extent (Helmreich & Merritt, 2017). The functions of the HRM department are performed electronically by the web technology so that the performance of the HRM is increased and the professionals perform efficiently. With the help of web technology the HRM can response to their managers, employees, and client very fast. The web technology is used for all the activities that are done by the human resource team. The activities that are controlled by web technology in HRM are creation of employment application, employee enrolments, and benefits, and training that are done by e-learning. The professionals of HRM are experiencing more transparency, comprehensiveness, and clarity with the web technology. Web technology also can help the management of human resource by awaring the professionals of the latest trends that exists in policy making, employment practices, and the activities of the industry (Marchington et al., 2016). All the relevant regulations and laws that are available are to be known by the professionals of HRM. The web technology has enabled all the clients and the employees of the organization to connect with HRM and have an interaction with them and the whole world.
Importance of information security in management
The customer relationship management has become very important with the increase of growth of internet and the web. The Customer Relationship Management returns the business to make personal marketing (Khodakarami & Chan, 2014). Through CRM the businesses can interact with the customer and can have feedback as well from the customers. Through Customer Relationship Management, previous track record of the customers can be kept which includes the previous purchases, wants, and needs so that each of the customer gets offer from the company. The approach of CRM is to increase the intimacy of the customer with the company. CRM consists of a simple idea which mainly deals with customers in different way because all the customers have different needs and the value of different customers is different. The customer strategy is improved by implementation of CRM and also the sale of the company is increased (Eichorn, 2017). CRM is used to customer intimacy because the services of the employees becomes more productive and decrease the gap bridge in between the seller and the customers.
Planning is an important role in management of supply chain. Planning of Supply Chain Management helps to predict the future of selling and the requirements that will be needed to balance the demand and supply of the products and services (Stadtler, 2015). The first stage of SCM is planning which is considered as one of the most important categories of the software of SCM. Planning is important for Supply Chain because it provides modelling of supply chain, distribution, supply network planning, and design of the planning. Planning directly impacts on the revenue of the company. So, planning is considered as the most important factor of Supply Chain Management. Companies having poor planning generally leads to loss of the company or revenue loss. Planning allows businesses so that they can operate with their processes smoothly and then to minimize their expenses (Christopher, 2016). The companies mainly turn to their customers for their improvement and the feedbacks of the customers are most important for their improvement. So, planning is considered as the most important part of the Supply Chain Management.
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Ways in which Wi-Fi supports mobile computing and m-commerce
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