No Marshmallows, Just Term Papers
Today’s business world is always changing, whether it is the technology or the actual business practices that are standard. Any number of external factors can influence a company and Kudler Fine Foods is no exception. When developing new and innovative ideas, there are many external factors that influence Kudler’s decisions. Some of these factors include competition, the economy, and social responsibilities (Tello & Yoon, 2008).
While Kudler does not have any direct competition, all of their locations are surrounded by conventional grocery stores. The company that is their biggest competition is Cardiff Seaside Market. However, due to the current location of the market, Kudler is not really concerned. Other factors that will affect innovation are the economy and social responsibilities. Kudler has a social responsibility to the communities in which it opens locations and at the same time, must consider the current state of the economy in those locations.
While making a profit is the main goal of a business, Kudler prides itself on providing its customers quality foods at an affordable price and the economy of a community will either help or hinder the innovation of the company. If a surrounding community has a healthy economy, then the company will be able to take more liberties as far as innovation goes and fewer liberties for a poor economy.
Tello, S.F., & Yoon, E. (2008, October). Examining Drivers of Sustainable Innovation. Journal of International Business Strategy, 8(3), 164-169. EBSCOhost.
Strategic Plan 2003 from Kudler Fine Foods website (I wasn’t sure how to cite this)