LCBO DIAGNOSIS2Table 1.1 – Analysis of Strategic OptionsOption 1Briefly Identify & Describe the OptionExpansion of the market by finding a new wholesale channel.Benefits/ AdvantagesThe organization will be able to overcome the increase rate of a grocery store too and be able to compete with the grocery store. Reaching directly to the customer which led to preventing distributing cost. Critical Success FactorsGetting accurate information about each one of potential wholes sale channel. Estimate proper cost and benefit of reaching each one of a potential wholesale channel.Building a new wholesale channel on a solid foundation andin a way that presents a new business opportunity and new customer.Threats/RisksThe difficulty of the finding proper induvial distributer.The cost of estimating the potential wholesale channel.If they cannot be able to new wholes sale, channel LCBO experienced decreasing almost $ 1 billion in 5 years.Why is this recommended Strategic Option? N/A
LCBO DIAGNOSIS3Table 1.2 – Analysis of Strategic OptionsOption 2Briefly Identify & Describe the OptionDeveloping modern and robust e-commerce activity which enable the company to identify customer’s pool.Implementing the social media world and creating a developed website and smartphone app for being more relevant to the customer.Benefits/ AdvantagesIncrease efficacies, getting more customers and empowering staff. Fading geographical boundaries and reach the customers all over the world and get sales from almost everywhere.Ability to update customers about the products, promotion and give them all relevant new information toward products.Making business practice more precise.Making better customer relationship via the internet.Critical Success FactorsThe financial resource can be a critical factor for adoption of substantial commerce activity (Cosgun & Dogerlioglu, 2012)Top management support can be another critical factor for being successful (Caldeira & Ward, 2002).Using IT, an expert can be another significant factor whichleads to adopting strong e-commerce activity (Palvia & Palvia, 1999).Providing proper data management that ends up to
LCBO DIAGNOSIS4analytics objectives.Threats/RisksLack of management support can bring failure to the new and robust e-commerce adoption.Having not experienced IT to help the organization implement strong e-commerce activity.Enables to creating proper data management that fits the decision process and the business workflow (Mendes, 2018).Why is this recommended Strategic Option?