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The advent of new technologies has been an impetus for rapid development in several industries, including the area of retail services. These recent advances push industry leaders to infuse new innovations into their various systems and processes. Successful Technological Integration for Competitive Advantage in Retail Settings examines the various effects of changing markets and subsequently how these changes cause retailers to meet consumer demand by integrating more sophisticated, advanced innovations in their daily practices. Focusing on corporate strategies, innovation management, and relevant case studies, this book is a pivotal reference source for researchers, practitioners, and developers interested in recent innovation trends within the retailing industry.
"This book examines the various effects of changing markets and subsequently how these changes cause retailers to meet consumer demand by integrating more sophisticated, advanced innovations in their daily practices"--
Competitive Strategy is a key driver of industrial growth and economic development. There has, however, been no book that expounds holistically the key role of technology in shaping and influencing competitive strategy. This book is an insightful analysis of the several ways in which technology drives competitive strategy. The book’s unique contributions lie in the classification of firms based on the concept of technology pyramid and articulation of characteristic strategies of innovators, differentiators and followers. The book develops a distinctive five forces model of technology and proposes three generic technology competitive strategies. It also focuses on the linkages between strategy, technology and regulation. Multiple themes are weaved together by the myriad threads of technology in a seamless and simple manner. It is loaded with innumerable real life examples which validate the constructs. The book would inspire technologists and strategists as well as academicians and administrators to deploy technology not only for competitive advantage at firm level but also for national comparative advantage and broader socio-economic equity.
The book includes new theory, original empirical evidence, and applied case studies synthesizing advances in innovation and technology for the retail sector. Chapters identify the challenges retailers face in response to new practices, suggesting how the sector can respond to technological developments, ethical considerations and privacy issues.
Today’s global business environments drive companies to be more technology dependent, and to remain competitive, firms need to introduce or adopt a new technology to business. In order to achieve a successful integration with maximum return on investment, companies need a systematic approach that accommodates a comprehensive course of action of technology integration. Technology Integration to Business – Practical Methods and Case Studies suggests a business-driven holistic approach of technology integration that consists of several steps. First, companies should examine the current state, issues, benefits, and obstacles of technology integration in conjunction with their competitive business strategy and operational capability. Second, firms should investigate new, emerging business technologies as to how those technologies can contribute to improve the business. Third, with the technology integration needs identified, companies should complete preparatory tasks before actual implementation, such as, business process analysis, technology assessment, technology provider investigation, business case development, and cost-benefit analysis. Fourth, because the nature of technology integration project involves many stakeholders in global locations, firms should use effective project management knowledge from project initiation, through planning, execution, control, to close. Students will learn real-world technology integration processes in industry settings and become more prepared for industrial careers. Practitioners will find thorough procedures and methods that are useful in practice to improve business performance. Realistic examples for manufacturing, logistics, and supply chain management application domains give the reader practical implications for the methods presented.
Retailing today is one of the largest, most buoyant and most competitive market sectors. The large, medium and small retailers, providers of systems are the major players in this market. The exploitation of information technology and the use of quantitative corporate models are emerging as key factors in determining the strength and effectiveness of marketing plans and support logistics. Many major retailers have developed considerable in-house expertise in this area and many hard ware manufacturers and systems houses have created special divisions to provide turn-key installations, products and services in order to exploit these opportunities. However, in the research leading up to the seminar on which this book is based, a number of important gaps in retailer useage of systems were noted. While many retailers, including the large multiples, had very sophisticated electronic point of sales devices, the information that was available was not being used to plan effective marketing and selling strategies, nor yet to plan for growth. In the medium and smaller companies there was still concern whether electronic point of sales were cost effective for them or whether being without such aids put them at a grave disadvantage vis-a-vis their larger competitors.
Fashion has been steadily moving from the brick and mortar to the digital market. As such, it is increasingly vital to research new methods that will help businesses to grow and succeed in this new sphere. Advanced Fashion Technology and Operations Management is a pivotal reference source for the latest development management strategies, fashion marketing, international business, and fashion entrepreneurship. Featuring extensive coverage across a range of relevant perspectives and topics, such as online shopping behavior, digital fashion, and e-commerce, this book is ideally designed for professionals, entrepreneurs, students, and researchers.