Photo AI
Using appropriate business headings to guide your thinking, describe how you see the future of the enterprise - Leaving Cert Business - Question C - 2001
Question C
Using appropriate business headings to guide your thinking, describe how you see the future of the enterprise. Make relevant assumptions that you feel may be necessa... show full transcript
Worked Solution & Example Answer:Using appropriate business headings to guide your thinking, describe how you see the future of the enterprise - Leaving Cert Business - Question C - 2001
Step 1
Market Expansion Strategies
Answer
Aileen O'Rourke's label, 'AORA', has significant potential for market expansion. Given that she has already established a foothold in the ladies' fashion business, leveraging online platforms could help her reach a wider audience. Investing in e-commerce and social media marketing could attract customers beyond local markets, making the brand more accessible and increasing sales.
This expansion should consider current trends in sustainable fashion, allowing AORA to target eco-conscious consumers. Collaborating with online influencers could enhance brand visibility and credibility.
Step 2
Technological Integration
Answer
To stay competitive and enhance operational efficiency, Aileen should incorporate technology into her business model. This could involve using data analytics to understand customer preferences and improve inventory management, which would help in predicting stock needs more accurately.
Additionally, adopting customer relationship management (CRM) software can facilitate better communication with existing customers and foster engagement. This technological approach will support Aileen in developing a credible business plan that aligns with her advisor's recommendation to focus on modern practices.