Information technology is an important part of the business. Information technology will help an organization to collected at and use the data in the right time. In addition to this, technology helps an organization to carry out a proper market research and change the business operations accordingly. The customers can also give the feedback about the company by using technology.
The report will look into the case study of Myers and the technologies that have been implemented in the organization. The strategic alignment of the company with the technology with the goals and objectives will be discussed in the report. The benefits of data management will be assessed so that it is beneficial for Myers and other organizations who will be going through the report. The discussion of the usefulness of the technology in various fields and the threats that will be faced by the organization due to the technologies will also be evaluated.
Sales Goals and Objectives
The main goal of Myers is to meeting the changing demands of the customers (Myer 2017). As a result, the objectives that are set up by the company is based on their goal of serving the customers. Some of the objectives of Myers are:
- To provide the customers unmatched design and quality of goods
- To make a strong presence in the online as well as retail sales
- To adhere to sustainable business while serving the customers and enhancing the business
They are always updated with the change of fashion that is happening in the market. A constant market research and customers survey helps them in remaining updated about the changes in the changes in the world of fashion and clothes. They also price their products intelligently so that the customers are not only satisfied with the quality and the design of the products but also the price given by Myers.
Sustainability is one of them most important aspects of Myers. They do not like to harm the nature or the species living in the environment to carry out their business. As a result, they have adhered to many sustainability practices within and outside the company.
Myers uses a number of tools to measure the market conditions and get an idea about the demands and the needs of the consumers.
Business Dynamics Statistics
Business dynamics statistics help a marketer to get an idea about the business startups and the shutdowns that have happened in the market (Davenport 2013). In addition to this, the tool helps in understanding the current economic conditions of any market (Drnevich and Croson 2013). Thus, if Myers is trying to venture in a new market then they can make use of the Business dynamics statistics to get an idea about the market.
Internal Customer Survey Machine
Along with the external market, the internal conditions of the company are important for an organization. There will be feedback machines that the customers can fill (Orlikowski et al. 2016). The customers would not be asked for their feedback and they can give their feedback if they give like. In this way, their opinion would not be biased and they will give their honest feedback.
Loop11 is another tool that helps a marketer to evaluate the websites of their competitors (Wu, Straub and Liang 2015). It will help them to understand the features and functionalities of the websites and the areas that need improvement for Myers (Schwalbe 2015). However, Myers will have to pay a monthly fee for this tool.
The tools that are used in by Myers help the company to maintain a strategic alignment between the goals and objectives of the company. They have implemented the tools so that they are able to get an idea about the market and eventually will help then in achieving their goal.
Myers aims maintain strong presence in the online and retail sales. Lopp11 and the internal customer survey machines has been implemented so that they are able to get an idea about the feedback of the customers (Nguyen, Newby and Macaulay 2015). In addition to this, they aim at meeting the demands and needs of the customers. Loop11 and the interval survey will help Meyers to get an idea about the things that the customers want (Piotrowicz and Cuthbertson 2014).
Myers wants to maintain a sustainable business. Business dynamics statistics will help Myers to keep a check on the external market and the reasons for any business failure if any (Borghoff and Pareschi 2013). At times, business fail because they are not able to sustainability practices and business dynamics statistics will help Myers to build a strategy the will them to keep check on the reasons behind business failure (Baltzan and Phillips 2016). Moreover, business dynamics statistics will give an idea about the business in the market and help Myers will help to perform in the market.
A business should be mainly depended on the data that is retrieved from the market (Gerow, Thatcher and Grover 2015). Data will be able to give the marketer the exact scenario and based on those changes could be done in the business (Yeh, Lee and Pai 2015). However, the data should be managed properly so that they could be used for the development of the organization in a proper manner. The data management software should be used by Myers to get the data and use it for enhancing the business (Drnevich and Croson 2013). A number of benefits are there for the companies that are adhering to data management:
Once the data are managed properly and used for the right purpose and in the right place, then it will help them in the enhancing the productivity of the organization (Davenport 2013). The employees can access the data make changes as per the data.
Better Time Management
When the employees know that they have the data ready and can start their work immediately, there will be lesser time wastage (Orlikowski et al. 2016).
Exact Idea of the Market
Data will give an idea about the current scenario of the market (Wu, Straub and Liang 2015). Chances of mistakes will be less as the data are well managed for the using it in the business.
Adoption Web2 and Web3 Technologies
Adoption of web 2 and web 3 technologies will the company updated with the technological changes in the society (Schwalbe 2015). Web 2 technologies to keep a track of the customer over the social media (Nguyen, Newby and Macaulay 2015). Web 2 technologies help an organization to interact the customers in social media platform.
‘Web 3 technologies’ is the next generation of internet evolution and will help the computers to generate data on their own (Piotrowicz and Cuthbertson 2014). However, it might give rise to threats the companies might not be able to control the data that has been shared between each other; for example, the details of the employees, which should be confidential.
When on one hand, technology is useful for the business; it can also cause issues for the business. Some of the threats that could be used for the business purpose are:
Nowadays hackers are present everywhere. They can easily hack the websites and get some of the confidential information about the company (Borghoff and Pareschi 2013). If the information get leaked, it will result in the downfall of the business.
Technology can go wrong anywhere and anytime. If the company were over-dependent on technology, then at the time of break down they would not have any information that will help them to carry out their business (Baltzan and Phillips 2016). They would have to wait until the machine runs properly
Once a technology goes wrong, the entire data might get lost (Gerow, Thatcher and Grover 2015). In such a situation, the company will lose some of the vital data. It will affect the business and the organization will have to start the work from the scratch.
Machine Cannot Think Critically
Machine can only do the work that has been fed. They will not be able to make critical decision during the time of emergency (Yeh, Lee and Pai 2015). Any individual will have to make the changes in the machine if there is any issue. Hence, over dependency in the machine or technology might not help in proper execution of the business.
Myers aims at satisfying the customers with new types of designs and the quality of the products. they have implemented business dynamics statistics, internal feedback machines for the customers and loop11. Data management will help the organization to increase the productivity and manage the time so that they get the exact data at the correct time. the correct conditions of the market can also be retrieved with the help of proper data management. Web 2 and web 3 technologies for creation of data and interaction in the social media sites. However, the organization can face certain threats like leaking of information, data loss, technological error and other issues if they are over dependent on the technology.
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