bus499 week 1 discussion 1 AND response.
I need help with a Business question. All explanations and answers will be used to help me learn.
Week 1 Discussion
- Use the internet or the Strayer Library to identify an organization that could benefit from the application of the I/O Model of Above-Average Returns (Figure 1.2 on page 15 in the text). Do not use Apple or Walmart in this exercise.
Please respond to the following:
- Identify an organization that could benefit from the application of the I/O Model of Above-Average Returns (Figure 1.2 on page 15 in the text). Follow the five steps to justify your answer. Do not use Apple or Walmart in this exercise. Be sure to incorporate the relevant vocabulary or terms from the chapter and give us the “why”.
AND RESPOND TO THIS POST DIRECTLY:
I think the company that could have used the I/O model of Above Average Returns is Win-Dixie, who not too long ago closed a bunch of stores. Winn-Dixie had many competitors such as Publix, Dollar General, Walmart, and even Amazon. These stores are taking up making other grocery stores to close. Winn-Dixie was lacking innovation and technology; it just couldn’t keep up with its competitors. They needed to consider looking into its store’s location so that they can keep up with the market. Next, they should have invested into newer technology and newer products. If you compare Winn-Dixie to other grocery stores, it was noticeable the other store offered more promotions, price cuts, and even better-quality foods, such as Organic options and fresher meat.
The store needed a lot to offer Value, quality, and service in order to match its competitors. By increasing its knowledge intensity, Winn-Dixie would’ve been able to find out what its customers wanted, giving them the option of when and where. Also, it’s important to understand the, newest trend and keeping an eye on the consumer spending habits; possibly adding an internet spending option. Another strategy could be looking into contracting local produce farmers, this would have saved the company from going into a long-term contract with bigger companies. Finally, the company should focus on improving the customer experience such as adding a Winn-Dixie liquor store, In store dining, or a sushi bar. Overall, the store needs to provide exceptional shopping experience to compete with other competitors.