M1- Analyse Different Types of Business Information and Their Sources

There are different ways to communicate between different parties. Everybody can send emails to each other.

Over the decades there were tremendous amount of challenges for every business. Customers have more knowledge, they have more options, and they have higher expectations. Customers are more informed with the humungous development in technology. Having more options in front of them, expectations has surpassed in retail industry. Loyalty is a customer having faith that your organization’s product or services offered is the best for them. It is the process of tapping the buying pattern of customers in a store based on their preferences. Customer loyalty is significant because it is economical to retain the old customers rather than acquiring new customers. So, organizations employ loyalty programs which reward customers for their repeat business.

Haefren Baum GmbH is a home furnishings retailer. The company was established in 1965 and incorporated in 1970. Haefren is a major customer of Wiegandt GmbH and has served as Wiegandt 's since 1968. Haefren currently owns one location in downtown Cologn and three other outlets in suburb Rhineland.

Business information can be used for a variety of reasons, depending on stakeholders and their needs. The following table presents a concise analysis of external and internal business information users. Further, it identifies

Sending out emails works when you want to send an FYI to someone, a method to transfer information to someone or perhaps recording a non-confidential verbal conversation on a consumer, product or service.

· Disadvantage would be that if the email is unrestricted others would be able to access it, would go to the wrong person and would not be classed as official confirmation.

Information and files can also be shared to other using the attachments function. However, sometimes emails can be misconstrued or the tone of the email taken in a different way as intended by the sender. Emails may also be overused and an unnecessary amount of emails may be sent as opposed to picking up for the phone to speak to someone, saving time going back and forth.

Email is also an effective communication as it can be accessed immediately and is written down for future reference. However this type of communication is relying on technology which can be disrupted or unavailable at times and could cause delays.

* This is most important because it helps the company gauge what the “next big thing” could be or which styles will be out.

This obviously opened the flood gate for hackers to come in to the system and hacked. Meaning that if email messages are intercepted by an intruder, then the content of the message will be widely open to the intruder. This was a very strong vulnerability seen in the Ashley Madison system that contributed to the attack.

According to the author Pamela N. Danziger, of “What Do HENRYs Want.” HENRYs are the High Earners Not Rich Yet mass affluent customers who have household incomes between $100k to $249.9k which controls nearly 40% of all consumer spending, that seeks for expression of luxury to reflect their core values.

You can send the same message to a number of people quickly, efficiently and can be sent anytime of the day or night and employees can pick up emails from wherever they are.

3. ·Lack of interest in the Brand Stewardship: employees feel that the new Vison is a loss of time for them. “If it helps to get new business, that’s great, but why are you in my office talking about this? I have a dead line to meet and I don’t see what this has to do with creating advertising”. The importance of the Brand Stewardship has to be communicated to employees.

Business analytics, in a nutshell, is usage of the type of data that can help one analyze a particular business situation and decide how to improve it. Instruments used for such an assessment include statistics, and both quantitative and qualitative analysis, as well as predictive and explanatory modeling.

strategy, they are only responsible for the design and marketing, by means of a good inventory