Business Plan (Opening online shop) IN HEART Coursework

Business Plan (Opening online shop) IN HEART - Coursework Example An online shop can easily trade with these countries because there are limited international trade regulations and it can have a positive impact on the growth of an online business (Porter 1985). Inflation affects the online business because buying the product online includes various costs associated with the product, which includes shipment cost and possibility of theft in online payments. The decrease in the buying power will have a negative effect in purchasing the product online because people would be reluctant to pay online due to the increased prices (Aaker and McLoughlin 2010). The ageing population is increasing in the United Kingdom and due to which the organizations are producing the products that caters the market for old people. This indicates the social change from organization point of view (Aaker and McLoughlin 2010). Coming up with new products all the time gives a competitive edge and it leads in the innovation, which results in the growth of the company. Every product contributes an impact towards the environment. If the product of an online shop creates a good impact then it will be appreciated by the customers (Porter 1985). ‘In heart’ online shop should approach towards the license of a website in a legal manner. Forming an online shop in today’s world can be achieved for a few costs unlike the franchises that need million dollars for a startup investment (Porter 1985). In the future it is expected that many of the businesses would be transformed online because of the heavy investment associated with the opening of franchises. The concept of ‘In Heart’ online shop would target a market of millions of audience and attract the people toward its product in the span of five years if factors favor the online businesses (McLaughlin 2010). The ‘In heart’ online shop should me more focused towards differentiating its designer product from its competitors because the online shops will tend to increase in number and

How to improve the integration of a poka yoke solution from the user Literature review

How to improve the integration of a poka yoke solution from the user perspective - Literature review Example Sissonen’s research based on the fact that large-scale production systems usually employ mass customization processes and activities with large configurability, requiring highly sophisticated approach2. They argue that lack of mistake-proofing or low level of mistake-proofing can result in too many or severe quality issues in mass production systems. However, Da Silveira, Borenstein and Fogliatto argued that it should also be noted that mass customization cannot be adopted for all types of products, processes or consumers3. The ability to identify reasons for mass customization is important from managerial perspective in order to reinforce predictability of demand, which will eventually spell the success of the product/business. Kaplan, Schoder and Haenlein built their research on Frank and Piller’s proposition that mass customization from a consumer’s perspective has critical implications for managers and the business because this decision usually depends on two factors: the value customers gain by using a mass customized product relative to their needs, and secondly, the returns of a process design that gives optimum results4. Squire et al.’s point that highlights price, quality and technical attributes as the most probable value-creating criteria that determine the need and demand for mass-customized products and processes is indicative of the need for mistake-proofing. Mistake-proofing therefore adds great value to the effectiveness of mass-customization in terms of profits, quality, and business growth5. Examples of mistake-proofing in mass-customization6: a) Machinery with warning lights to highlight improper positioning or usage of parts; b) A device to count the number of holes drilled in a work piece to indicate correct/incorrect number of holes drilled; c) Double verification of passwords in IT systems; d) Signals to indicate open or improperly closed doors in cars etc. e) Automated checking and saving Microsoft Office docu ments. These examples indicate the application of mistake-proofing in mass-customization from product, process, and consumer perspectives. Evans highlights Chase and Stewart’s point that mistake-proofing in mass-customization for services sector should account for both customers’ and service providers’ activities7. Mistake-proofing methods must be set up for various activities involved in providing a particular service, which is characteristic of service industry. For instance, a banking service might provide various facilities to their customers for the same product, like withdrawal of money from ATM, direction transaction with bank, phone, cheque book etc; each of these multiple service options will require efficient mistake-proofing techniques to prevent errors, frauds and losses. Although the error-free activity is the responsibility of the bank, its liaison with manufacturing units is inevitable and the mistake-proofing techniques provided in some of these services are usually fixed by the manufacturers. For instance, for ATM machines to indicate error/fraud, mistake-proofing tools, such as warning lights/signals, need to be incorporated during its manufacturing process. According to Swaminathan, factors in general that necessitate or support mass customization obviously include large scale production and predictable demand, similar products, similar processes, and cost-reduction8.