Date:McDonald’s use of B2B, B2C, and C2B
MacDonald’s makes use of B2B to maximize on their operations and clientele base. This is done with the view of increasing their competitive advantage with their competitors who deal in the food chain industry. The organization makes use of B2B by sourcing different materials for their final products. They also have made use of different firms for purposes of auditing, legal and other important facets of the industry.
Macdonald’s uses B2C by using the internet to reach most of their clients. Through their site, they can indicate their products and other general information that is relevant to their customers. They have been able to reach a large number of people within short periods hence increased output.
C2B model has in the past enabled the organization to receive products in the form of raw materials from different individuals. They also receive different personalized services that are geared towards increasing their output level in the long run. This has led to a positive outlook from the communities where the organization has branches leading to high profits through increased sales.
Benefits and Trends of e-commerce in MacDonald’s
E-commerce assists in the selling of goods and services by using digital components; it also includes the transfer of funds between two parties who are online. The main benefits of e-commerce include the exchange of products and services without the known barriers of distance and time. -Commerce often provides cheaper provisions compared to those sold in traditional stores. This is because the system never allows any middlemen during the transactions. An example of e-commerce is buying and selling of books and other materials from e-bay, Amazon, etc.
E-commerce is increasing becoming the way shoppers buy their wares from retailers and manufacturers across the globe. More people are now making use of e-commerce in the US alone. The future for online shopping is promising due to various advancements in the field of technology. An example of one e-commerce trend is the recent inclusion of content and commerce within portals. Content and commerce are currently merged in different sites to increase customer participation in the purchase of products and services.
The use of ERP and its critical success factors
MacDonald’s makes use of the ERP system to manage, store and interpret all the data that has been collected from their activities. The various activities that need the use of the software include their product planning phase, sales and marketing, management of inventory and payments. The system allows for competitiveness in the organization because it integrates all the necessary processes in the organization.
There are different success factors for an ERP software implementation for any organization. The factors are vital and have been tested and tried to ensure increased usage even in challenging projects. The success factors include able sponsorship of the executive that has a focused scope and project management. Customization should also be minimized with a solution design that is accepted and approved. Testing of the system should be done while following different documented procedures. Lastly, strategies of migration should be enumerated with the transfer of knowledge.
Impact of IT and IT Revolution on governments and society
Information technology impacts the government more compared to individuals and companies. IT impacts governments negatively as most of them react to their surrounding rather than finding new ways of operation. This makes governments spend more money and time while buying equipment and training its workers. The new systems often lead to confusion when they are integrated with others that have been in use. IT revolution can lead to governments that are not efficient, and ones that have no essential requirements for improvement and increased production.
IT impacts the society positively as individuals can communicate with one another while gaining more knowledge. People in the society can increase their earnings through embracing the different facets of technology. IT revolution on the society may lead to minimal knowledge and limited communication between different parties.
Concerns of the Technological Age
The technological age is improving the standards living while companies can do business around the globe at the click of a button. It has also led to increased knowledge economy that has led to prosperity and productivity. Knowledge will also lead to increased social welfare and different opportunities in the economy leading to reinforced international gaps. A company doing business in the US and around the world will be able to provide their goods and services within a short period, and also collect payment easily. The company will reduce their costs and increase their revenues in the long run due to the use of technological components.
Impact of IT and its revolution on financial market
Information technology has impacted financial markets greatly in different practices and institutions through which borrowers and lenders can meet. Stock markets are the known institutions in the financial markets. There are also other different instruments for people who desire to raise or earn money. The markets for the financial markets are positively impacted by the different improvement in the IT sector. It has made financial markets to transact securely and rapidly through enhanced data storage facilities. Information about different opportunities for investments has also been acquired by different stakeholders in the industry through the use of IT. IT revolution can lead to limited investment knowledge and cases of fraud and theft that may lead to huge losses. Development of different policies can also become impossible because of the limited information that is available.
The impact of technologies on McDonald’s domestic and global strategies
Technologies have enabled MacDonald’s to increase their revenue and also serve a large number of people within a short period. Through social media, the company has been in the forefront in advertising its products and also giving their clients information about their provisions. Customers are currently able to make different online reservations while the company collects payments securely and on time. This has reduced their costs and increased their earning potential. An example of how IT has impacted MacDonald’s is seen when individual clients provide reviews through the organization’s online portal and this has increased their competitiveness. Globally, the organization has been able to reach millions of people even those who are not near their premises.
Impact of IT and IT revolution on industrial structure and job
Industries have great potential when employing people in different job categories. Information technology assists in improving industries capability to provide quality and timely products to different consumers. This has made IT important in the sector compared to most sectors that usually desire competitiveness. Industries have eliminated long wait times and increased their efficiency as a whole. People have been forced to seek new knowledge and skills to be able to run different facilities that are used in different industries. Jobs have also been created due to the increasing need for experts in different fields in the IT departments. The IT revolution may lead to poor quality products that are costly to the consumers.