Download Some of the significant changes included technology, innovation, and the internet and more Assignments Law in PDF only on Docsity! 1. Some of the significant changes included technology, innovation, and the internet. These three factors required industry to change their supply processes, systems, and daily activities. Facing these changes, L&F introduced new ways of doing business, and thereby eliminating traditional methods. It also tried to overcome the difficulties that brought by the competitors. L&F introduced new internet and intranet services for its customers and staff to improve their service and maintain their advantages. Finally, its creative approach facilitated its growth from 2010. 2. Yes, L&F can continue its past acquisition strategy. The companies that L&F acquired before 2017 contributed to their overall development positively, and acquisitions can still positively contribute to their growth and market leadership in the future. But some pruning of existing practices may be necessary. And L&F might emerge a more formidable player with proper investment and repositioning. The core strength of L&F is its century long business experience and resources accumulated in the field of global consumer goods supply chain management, including global supply chain channels, excellent product design and research and development capabilities, which enables it to have a deep understanding of market rules, business models, consumer preferences, and other factors in various countries around the world. The focus of the 2017-2019 3-year plan is growing organically. It created a global business model, in which its 80 offices and hundreds of clients in over 40 countries were linked, and pooled the group’s capital, human resources, products and business opportunities, and reached its clients’ and suppliers’ business, physical and information flows so as to offer one-stop services. The organic growth strategy of L&F is suitable to the changing trend of the whole supply chain and the company has already been benefit from it. However, it is not enough to retain its past growth. Acquiring competitor firms was also a significant contributor to LF's growth in the past. It is important for L&F to combine these two methods to maintain their comparative advantage in the future. 3. Yes, L&F will success with its 2017-2019 3-year plan. The plan focused on three important aspects: speed, internal change and service. These are the main characteristic of the modern supply chain, and improving these can give the customer a better experience. The plan is also specific, measurable and attainable. Besides, the company's proactive approach to growth is also a strong contributor to the plan's successful implementation. No, it is not too late. The 2017-2019 plan focuses on e-commerce, and the digitalization of the supply chain has already been predicted by the visionary managers of L&F and they have made some preparation. Therefore, they may
