+ 44 20 8144 3706Introduction:
Lidl is the German based retail chain that is operating in the UK. The firm is known for offering products at very low price in the market. An industry in which firm operate there is a very high cut throat competition. In the present research study, an overview of Lidl business and its corporate objectives is given (Lukic, 2016). Apart from this, SWOT analysis and external environment analysis are also made in the report. Porter five forces model in respect to Lidl is also prepared in the file. Further, varied KMIS are explained and BI system as KMIS is selected for the Lidl. Benefits of BI for Lidl and implementation issues are also explained. At the end, conclusion section is prepared in the report.
Organization:
Corporate objectives:
Lidl is the one of the largest retail chains in the UK. Mentioned firm is known for selling product at very low price in the UK market. Due to the low price strategy firm was able to capture the market at a fast pace in the UK which was already competitive. Firmly mainly aimed at delivering outstanding customer satisfaction (Ahmed, Bangassa, and Akbar, 2020). Lidl is attempting to create value for its customers by innovating and optimizing efficient process in the business. Lidl has also invested heavily on achieving long term success by making investment in recruitment, training and development of the people. Corporate objectives of the Lidl are given below.
• To reach at target of average order of 3, 50,000 per week.
• To reach average order size equivalent £108.10.
• To develop customers base of 8, 80,000.
• To elevate profit level by 10% relative to previous year by controlling cost in the business.
Conclusion:
On the basis of the above discussion, it is concluded that KMIS has a lot of importance to the business firm. By using BI Lidl can track cost in the business and can track its marketing efforts. By formulating strategies in the required area firm can earn more revenue and profit in the business. There are more threats for the Lidl in the UK market and in such kind of situation by controlling costs in the business only Lidl can earn more profit in the business. Use of BI will make Lidl more efficient in its business operations. Hence, there is huge significance of the KMIS for the Lidl.
References:
Books and Journals:
Ahmed, S., Bangassa, K.. and Akbar, S. 2020. A study on trust restoration efforts in the UK retail banking industry. The British Accounting Review. 52(1). 100871.
Berry, T. and et.al., 2016. Using workplace population statistics to understand retail store performance. The International Review of Retail, Distribution and Consumer Research. 26(4). 375-395.
Bradley, P. 2016. Environmental impacts of food retail: a framework method and case application. Journal of Cleaner Production. 113. 153-166.
Buckle, M.. and Thompson, J. 2020. The UK financial system: Theory and Practice. Manchester University Press.
Cerroni, A., 2015. Knowledge Artifacts: When Society Objectifies Itself in Knowledge. In KMIS . 429-435.
Cheshire, P. C., Hilber, C. A.. and Kaplanis, I. 2015. Land use regulation and productivity—land matters: evidence from a UK supermarket chain. Journal of Economic Geography. 15(1). 43-73.
Chugh, R. 2019. Tacit Knowledge Transfer: Information Technology Usage in Universities. In KMIS . 349-355.
Fusco, F. and et.al., 2018. Crypto-voting, a Blockchain based e-Voting System. In KMIS. 221-225.
Gorlacheva, E. and et.al., 2017. The Knowledge Managment Capability of High-Technology Enterprises. In KMIS. 131-138.
Haendler, T.. and Neumann, G. 2019. A Framework for the Assessment and Training of Software Refactoring Competences. In KMIS. 307-316.
Hall, S., King, J.. and Finlay, R. 2017. Migrant infrastructure: Transaction economies in Birmingham and Leicester, UK. Urban Studies. 54(6). 1311-1327.
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