Management and Business Content for Internet - myassignmenthelp

Question: Discuss about theManagement and Business Content for Internet Technology. Answer: Introduction Internet technology and knowledge management is a key component of business strategy. A large number of companies use e-commerce to reach the customers in and out of the country. Further, when e-commerce has connected to business procedure and culture of the organization then it supports to build the strategic growth. These plans can lead to the performance improvement. Another essential part is knowledge management that is used as a major source to get sustainable competitive advantages. Along with this, a company needs to acquire and update their knowledge base to avoid the competitive strategy regarding discounting on price because, intellectual assets in the business operation are difficult to copy (Bilgihan, et al. 2015). This essay presents the different factors such as Knowledge management and e-commerce which enhances the business performance of The Kitchen. Knowledge Management and e-Commerce factors to enhance the business practice of The kitchen According to the Quast (2012), knowledge management is the procedure to capture, share and efficiently use the knowledge. It is a discipline which encourages an integrated approach to address, capture, assess, retrieve and distribute the information assets of the enterprise. These information assets involve the documents, procedures, databases, and earlier un-captured knowledge and experience of the individuals. Zaied et al. (2012) argued that employees can enhance the quality and efficiency of judgment by identifying knowledge for the whole management when it is required. Further, enterprise teamwork strategy enables The Kitchen to access the views and experiences of a large number of individual and facilitates additional aspects related to customers choices. Knowledge management leads to the innovation and cultural changes. It also encourages The Kitchen to distribute its information and access to the current data. Consequently, it is stated that knowledge management facilitates The Kitchen to implement the innovation and cultural modifications hence organization can attain the requirement of business and get the competitive advantages in the restaurant industry. In support to this, Sigala and Chalkiti (2014) evaluated that knowledge management can improve the companys efficiency and business procedures. Moreover, knowledge employees can respond rapidly by quick accessing the information and resources across The Kitchen. Additionally, the company can take interview of more than people and can select the knowledgeable individual because it will help to enhance the business procedure and performance of the organization. As per the view of Inkinen and Inkinen (2016), knowledge management is effective to increase the customer satisfaction level. Furthermore, the knowledge distribution and cross- alliance is effective to gain the value offered to the customers. The Kitchen could be enabled to provide quick response in less time as it can enhance the customers demand towards product and services. In favored to this, Liu and Lee (2015) discussed that fast response time is essential for every organization. Hence, The Kitchen can use the knowledge management strategy to do quick response and to make an effective decision about the business growth. Because, this strategy enables the people to directly access the required knowledge and techniques hence company can get benefits in Australian restaurant industry. KM also helps to improve the products and services for the organization. Because, it enhances the capabilities of the organization with respect to team work and distributing knowledge in both virtual and physical atmosphere hence The Kitchen can improve the business performance. By using the knowledge management resource, the company can be more creative as it is a key source to enhance the offering product and services. Furthermore, The Kitchen can facilitate better services and explore the new ideas by using KM as it could be beneficial to improve the business practices a nd get competitive advantages in Australian restaurant industry. Chiu et al. (2014) argued that strategically organizes knowledge facilitates the organization to create the profitability and deliver added value to their business process and operation. Further, The Kitchen can execute an organized and mutual set of procedures and policies which could be more dynamic and could decline a lot of errors from the business process. Consequently, organization can be more creative, productive and well-organized while it will enable to overcome the roadblocks. In support to this, Wakefield et al. (2016) stated that radical cost cutting is also essential for each and every organization. In this way, The Kitchen can use the knowledge management infrastructure and methodically reuse the knowledge by using the multidisciplinary approach consequently organization and individuals can act more lucratively. Moreover, an effective strategy facilitates the organization to organize their knowledge more successfully and declines the inefficiencies and idleness from the business operation. These strategies also facilitate to save the radical cost in both short and long run. Along with this, an effective strategy should consider what could be done and where improvement could be required and where knowledge could be used. Hua et al. (2015) discussed that Electronics Commerce is a vital part of modern business practices because it identifies the requirements of the company, customers, and vendors. It can also help The Kitchen to decline the expenditures and enhance the quality of product and services together with raising the delivery speed. E-commerce practices can be used by The Kitchen to paperless exchange the information in a different manner such as electronic mail, electronic fund transfer, electronic bulletin board, electronic data exchange, and other network based technologies. Business has increased the uses of e-commerce to standardize the operation. It consists to the provision of products and services through the electronic system like internet, emails, computer networks, and mobile phones. In favored to this, Zhang et al. (2013) stated that the internet facilitates a large number of avenues to companies to endorse their products and services. In this way, The Kitchen can build the websites to increase the awareness of its brand, shows the whole detail of inventories, and facilitates the product literature and release online press. It can also do advertisement through online and deals with direct interested customers to certified dealers with the intention of selling the goods and services. The kitchen may also provide the wide categories of product and services through online stores rather than using the physical store. It will provide the benefits to both customers and the kitchen because customers can get wide categories of product and services and can demand high as it would ultimately positive impact on the business profitability. Bilgihan et al. (2015) stated that e-commerce facilitates the different services through online such as music, publishers of the book, software, and photos. But, the kitchen has tangible products that cannot be delivered through online hence it can use the supply chain management solution in which it can ship the physical products. Further, it can use automated inventory management system and online tracking system to ship the product and services. Along with this, the kitchen can use the e-commerce to make a financial transaction. The different application can be used by The Kitchen to sell their products and services through online channels such as electronic fund transfer, and credit card payment processing. Zhang et al. (2013) argued that companies can deliver the product and services, and can provide support through online. At the basic level, the company can distribute the electronic edition of the product such as product manuals on its website. Together with, it can issue a forum for their users to resolve the troubleshoot issues. Moreover, the kitchen can facilitate the free online chat application for their customers to contact regarding buying the product and to get support with personnel. In support to this, Wakefield et al. (2016) explained that e-commerce can be used via using the different applications named online catalogs, email, shopping carts, file transfer protocol, EDI, and web services. It entails the B2B activities and reaches to the customers via emails. Through this application, the kitchen can deliver an unsolicited advertisement to their consumers and another business scenario. Along with this, it can send the e-newsletters to their subscriber as it would be beneficial to create a positive image in the customers mind. Consequently, the company can get competitive advantages in the Australian restaurant industry. Along with this, the kitchen can entice the consumers directly through online channel and digital tools. These tools are social media marketing, digital coupons, and targeted ads. Hua et al. (2015) exemplified that e-commerce is beneficial for companies because it provides high speed to access, a wide choice of products and services to customers, easy accessibility and can reach the customers at the international level. But, at the same time, it could be disadvantageous such as sometimes customers are not able to see the products prior to purchase and wait time for shipping of the products. Conclusion From the above discussion, it can be concluded that knowledge management and e-commerce is an essential component for performing a business activity. It can be evaluated that knowledge management is beneficial for improving the companys efficiency and business procedures and increase the customer satisfaction level. It can be also summarized that e-commerce is beneficial to facilitate a large number of avenues and helps to reach at large number of customers. Hence, both factors are essential to improve the business practices of The Kitchen. References Bilgihan, A., Nusair, K., Okumus, F., Cobanoglu, C. (2015). Applying flow theory to booking experiences: An integrated model in an online service context.Information Management,52(6), 668-678. Chiu, C. M., Wang, E. T., Fang, Y. H., Huang, H. Y. (2014). 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