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Background of the Problem

Discuss about the Business Models and Similar Strategic Objects.

Australia Beauty Clinic is a beauty salon located in New South Wales. The company provides services based on health and beauty care treatment to the people and ensures that the satisfaction of the clients is maintained. Hence, it is necessary that Australia Beauty Clinic develop innovative strategies so that it can gain a competitive advantage over the competitors and dominate the beauty salon market in the country. The application of a Smart Mirror can help in the success of the business and can increase the satisfaction level of the customers. However, one of the problems that can be faced by the company is the difficulty in convincing the customers about the benefit of the product. At the same time, implementation of the product may require excessive cost and financial support from the investors. A large space is also required as the mirror need to be placed in a position that can help the customers remain aware of the use of the product. Therefore, convincing the customers as well as the stakeholders is required for successfully implementing the product.

It has been evidenced that in the modern business market, the satisfaction of the customers plays an important role for its success. According to van Westen and Zoomers (2016), customer satisfaction can be attained by properly innovating the products and services that are offered by an organisation. In the case of the Smart Mirror, the innovation needs to include identifying the satisfaction level of the customers. The innovation tactics adopted by Australia Beauty Clinic can help in gaining more customers, as the new and creative design can be the first of its kind adopted by the company. However, there may be certain problems with the implementation of the product as Australia Beauty Clinic need to analyse the financial constraints that are associated with the product. At the same time gaining the approval from the Government can be a challenge as due to the excess finances that need to be spent, the Government of Australia may disallow such innovative practise. Hence, the application of the Smart Mirror needs to consider the Government and financial factors for its effective implementation. At the same time, technology may give out wastes that also need to be analysed by Australia Beauty Clinic.

The innovative ideas that can be implemented in the organisation provide a detailed understanding of the materialistic problem. Every department faces certain dilemmas that need to be addressed so that the innovative method can be implemented in a smart manner. For example, the technical department need to maintain its composure so that knowledge regarding the application of the model can be enhanced. Gaining proper innovative ideas is required for Australia Beauty Clinic so that it can improve its position in the market and provide a benchmark to other businesses in the same industry.

Definition of the Problem

A proper time is required so that business innovation can be implemented in the market. Innovative ideas need to be implemented properly so that the objective of the business can be attained and innovative tactics are adopted to implement the tactics. Australia Beauty Clinic needs to ensure that a positive impact is gained with the application of the Smart Mirror. With the growing trend in innovation, it is necessary that the company implement the application of the product within 6 months so that it can provide customers with satisfaction and a new application in the business. The development of the software after its initial testing can be done within 4 weeks so that effective customer service can take place in the organisation. Hence, effective designing can take place within the premises of Australia Beauty Clinic so that future possibilities with the product can be maintained.

Investors and technically advanced organisations can assist Australia Beauty Clinic so that it can develop its product in an effective manner. The application of Smart Mirror can help Australia Beauty Clinic to gain the satisfaction of the customers and provide them with an opportunity to promote its business in the national level. The workforce that is related to the company can involve materialising the interest of the stakeholders. This can help in improving the reputation of the company.

The benefits that can be acquired from the applicaton of the Smart Mirror are that it can provide customers with an enormous choice of cosmetics. The Smart Mirror can analyse the facial requirements of the customers and suggest products that can be suitable for them. Thereby, this can help in gaining a competitive edge over its rivals such as Shine Beauty.

The benefits to Government are that the economy of the country can improve. The implementation of Smart Mirror for cosmetics can be used for other purposes as well. The Smart Mirror can be used in clothing accessory industries and customers can choose the required clothing item in a similar manner as they choose the cosmetics. Therefore, the Government of Australia can increase the economy of the country by providing clearance for the import of the particular product.

The benefit of the application of the Smart Mirror can be evidenced from the increased popularity of the smart phones. The Smart Mirror is designed in a manner that provides choices to the customers about the various cosmetics. This can be attributed with the use of smart phones from which people can benefit and search for latest applications that can help them in the daily life. Hence, fashionable people can gain benefit from the utilisation of such a product in the beauty salon.

Timing Considerations

The Smart Mirror can help Australia Beauty Clinic to gain popularity in the market. At the same time, financial condition can also improve with the implementation of the Smart Mirror. This is because the company can maintain its creative resources and help in attracting the customers to purchase their products and use their stores.

New ideas need to be gathered by Australia Beauty Clinic so that it can improve the Smart Mirror. For example, it can introduce a speaker within the mirror that works as an Artificial Intelligence and communicate with the customers from within the mirror. Therefore, they can provide valuable assistance to the customers over the choice of cosmetics.

  • Emphasis is required to hire employees as the skills required for managing the technology require highly skilled experts with knowledge about the technology
  • Australia Beauty Clinic needs to maintain the rules and regulations that are stated by the Federal Government of Australia. The organisations need to maintain every rule that are directly related to the ethical manufacturing of products
  • The leaders and managers need to ensure that the ideas of the employees are valid and creative for the success of the organisation
  • Support from the Government so that legal and financial assistance can be provided for gaining success in the market
  • The directors and production manager of Australia Beauty Clinic can intervene during the application of the Smart Mirror. It is needed that information regarding the Smart Mirror is gathered by implementing proper marketing research for success in the business
  • Australia Beauty Clinic needs to be continuously involved in the research and development of the Smart Mirror. Maintaining communication with the stakeholders is also required so that support can be obtained from them
  • Australia Beauty Clinic need to abide by the rules and regulations of the Government of Australia to maintain legality of the process
  • Assistance from financial companies is needed so that the human resource strength can be analysed and creativity can be maintained

In the case of Australia Beauty Clinic, the stakeholders include the customers and the investors. This is mainly because support is required from the investors in terms of the finances required for the completion of the product. At the same time, the customers need to be the primary target of the company and support of the customers can help in the development of the product.

The application of the Smart Mirror can help in the development of the business of the company. The effective application of the product along with the growing reputation in the market can help Australia Beauty Clinic to gain the support of the customers. Therefore, it is necessary that the company invest in enhancing the society so that the people in it can understand about the new technology that exists in the market. This can even benefit the economy of the country.

  • The manufacturing of the Smart Mirror need to be free from pollution to safeguard the environment
  • The technology used need not drain the natural resources of the planet such as water
  • The Smart Mirror can help in the effective development of the economy in terms of technology
  • With an increase in the financial position of Australia Beauty Clinic, the financial position of Australia can also improve

The analysis shows that the application of the Smart Mirror can help Australia Beauty Clinic contribute to the development of the economy and the society. At the same time sustainable development of the product can help in keeping the environment safe from pollutants.

Risk

Management

Financial risk

Australia Beauty Clinic need to identify the financial stability of the company and maintain a balance in the budget of the company

Threat from competitors

The analysis of the competitors is required so that the strategies of the company can be manipulated based on the competitors

Table: Risk management

(Source: Created by author)

The adoption of the Smart Mirror can ensure that Australia Beauty Clinic increase its business among the customer. The number of customers of the company can increase and promote the company in the market of Australia. The trust of the people upon the company can improve can improve and Australia Beauty Clinic can gain an advantage over its rival companies like Shine Beauty. Therefore, this can help in the effective application of the innovative strategy.

  • The management of Australia Beauty Clinic need to ensure that the services provided to the customers can improve with the application of the Smart Mirror. The customers that want to put make-up on their faces can choose from a variety of products that fit their skin tone.
  • The company can implement strategies related to identifying customers so that it can gain the maximum use of the product. These strategies include identifying a marketing segment so that a proper marketing platform can be developed.
  • It is the duty of the board of directors of Australia Beauty Clinic to ensure that the operations of the company are kept intact so that effective application of the Smart Mirror can be done.
  • Promotion of the use of the Smart Mirror and its advantages can help the company gain more fan base in the market. Australia Beauty Clinic can conduct a test run during its inauguration to identify the value it may bring to business.
  • The performance of every department need to be measured so that the innovative tool can be applied in a proper manner
  • Australia Beauty Clinic needs to abide by the rules of the Federal Government of Australia so that the legality of the business can be maintained. The technical expertise of the company also needs to be improved so that the new product can be implemented in an effective manner.
  • An organised framework is needed so that the project can get proper exposure in the market

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[Accessed 14 April 2024].

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My Assignment Help. Smart Mirror: A Strategic Innovation For Australia Beauty Clinic, Essay. [Internet]. My Assignment Help. 2019 [cited 14 April 2024]. Available from: https://myassignmenthelp.com/free-samples/business-models-and-similar-strategic-objects.

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