According to Vitez, O. (1999-2012) “The biggest impact IT has made on accounting is the ability of companies to develop and use computerized systems to track and record financial transactions. Paper ledgers, manual spreadsheets and hand-written financial statements have all been translated into computer systems that can quickly present individual transactions into financial reports.” Kudler’s Fine Foods REMS uses each module in the system to track, analyze, and report information to other business systems within Kudler’s for the purpose of marketing to the appropriate market, producing product cheaper and much more efficiently, and allowing each department better understanding of fund available. This has an impact on the organization structure so that time and money is not wasted and also has an external impact as customer are better serviced because the REMS allows Kudler’s employee to narrow in on the customer’s
There exists a management problem because when Kathy is sick or on vacation, no one can order replacement inventory or deal with major business issues. While there are many areas, just within California that would make great sites for future stores, it becomes more and more difficult for Kathy to visit each store and maintain inventory and ordering. While KFF is planning to open the Carlsbad location and close down the Del Mar store, they are also considering San Francisco as the next “out-of-the-area” expansion, which will make it difficult for Kathy to use her current management
Strategy Assignment Kudler Fine Foods has been through major changes, in which the changes have created advantages for the organization. Companies use information technologies and develop strategies and tactics to help them grow, lower cost, maintain a strategic and competitive advantage. Kudler Fine Foods have properly used the technology available to the company so that it will be beneficial to their growth and overall success. This paper will identify how technology has created business opportunities for Kudler Fine Foods. In addition, this paper will identify the generic strategy Kudler Fine Foods is pursuing, and based upon the generic strategy, this paper will identify some tactics the company should implement to realize the generic
Owners put in their money to make a profit this is why it is important for them to track the sum of money they may have made in an accounting period. Usually a supervisor’s standing is related with the success of the company. When a business is making money the amount of money a manager makes will usually increase and they may also get a promotion. Income statements are also used to check the revenues and expenses of the company which allows managers to reduce their unnecessary expenses to make more profit. These income statements are also useful for outside users such as investors, creditors and the government.
A company's debt-to-equity ratio will usually improve after going public, which tends to result in more favorable financing arrangements (2014, Going Public, para 1). This will be a good move for Kudler to help expand their brand to different locations. They have already maintained the San Diego metropolitan area; therefore there are more markets to conquer as well. Also, maintaining control is important: In most cases, Venture Capital investors will want to appoint someone on their team as a member of the board of directors. Moreover, they usually
It can also help us to win over new customers or even create customer loyalty from current customers. We currently have sufficient marketing strategies to increase loyalty and profitability of consumers. However, the organization can create more strategies to have long lasting success. According to "How to Develop Marketing Strategy" (2013), “A carefully planned marketing strategy provides continuous benefits to a company”
Marketing research is important in the development of Kudler Fine Foods’ marketing strategy and tactics because it provides information that they can use to create a long-term business plan. For example, through marketing research Kudler Fine Foods can gain concrete information on how their customers feel about their product and services. They can then use the information they gathered to make adjustments to their business plan so it provides them with a better chance to meet their customer’s wants and needs. Without the information that is provided from marketing research Kudler Fine Foods would have to rely on conjecture in relation to the steps that they should take in developing a market strategy. Marketing research takes the guess work out of being able to provide products that their target market desires and provides information about what type of product changes are needed to increase their
This helps the organization produce a product or service that is worth while for the customer and would be of value to both the customer as well as the producer. Kudler’s Foods has to Incorporate a large amount of information from their market research in order to achieve success. The have to take into account their customer base of future and existing customers that they hope to serve and their competition. Marketing research will help Kathy identify these areas and outline a strategy to achieve their goals. When the five steps of marketing research are applied a business can decrease the chance of failure and take the steps to creating a successful business.
They also ask customers about what they would like to see in their stores or any other items that the company can improve on to make their business more enjoyable. In order for Kudler Fine Foods to keep a competitive edge they need to strengthen their marketing research. The company knows what consumers want know and what they like about their company at the current moment, but the company needs to do some research on business trends and forecasting. Kudler Fine Foods need to use secondary data in order to find this information out. The company needs to see how other companies similar to Kudler Fine Foods did throughout the years.