Research Question: Should Couture Design & Development (a buying agency for crafted garment and accessories) employ better use of technology in supporting their clients
Theoretical Framework: The syllabus areas that would be covered during the research study are:
* Accounting & Finance
* Business Tools
* External Influences
The reason why I chose this question is to evaluate whether Couture Design and Development can continue to be competitive and offer value services, to its clients, by just using traditional methods of business and communication such as mail and telephone.
an assimilate the costs it incurs while supporting its suppliers (manufacturers).
Couture Design and Development is a buying agency sourcing high value hand crafted garments & accessories through trusted and established suppliers.
CDD manages the buying process end to end through quality checking of sampling to final shipment of goods. Couture DD while serving the needs of its customers, delivers all its sampling and sourcing information through courier packages. While doing so, it does not only waste time but also incurs other extra cost which has an impact on the business. For instance Video conferencing during the decision making process of fabrics, colours, styles etc. This not only saves time but also saves the costs for both the parties in the exchange. Therefore in order to be more efficient while supporting its clients it can be evaluated whether Couture DD can employ technology while catering the needs of its suppliers.
One method of primary being conducted can be through personal interviews with the owner and the employees of the business. Through this method sufficient data can be collected and views on whether implying better use of technology towards its business is a suitable idea for the business to implement. For instance, views on whether technology is likely to be suitable for the business and whether is likely to be more cost prone.
Questionnaires can be conducted with its customers and employees, it a much cheaper and easier method for collection of data. Short question on whether applying new technology is a reliable method for the customers and employees can be discovered. Also on whether the customers are comfortable with the current situation of new technology being implemented, which is likely to affect their product exchange.
Internal Sources of information:
Quantitative information can be collected from the business, which will hold information on the amount of external costs that are incurred for shipment of goods and quality checks. Other detailed financial information can also be discovered about the current financial position (Such as the cash inflows an outflows) of the business which is to be a key factor in making the decision.
Business tools to be used:
* Lewis Force Field Analysis
* Paired comparison Analysis
The above tools will provide a sound base on the strengths & weaknesses on whether technology should be implied to the current business methods based on the information above.