Analysis of Major Trends, Issues, and Regulations

Analysis of Major Trends, Issues, and Regulations

AJ and Wines is one of the top dining and drinking establishments in Chicago, Illinois. The business offers wine that consumers can purchase from wine dispensers together with tapas (small plates). Additionally, it collaborates with Rosati’s Chicago-Style Pizza, which provides snacks, hors d’oeuvres, and finger foods. The business also has numerous recurring alliances with regional and national wine, beer, and mixed beverage distributors. Like many restaurants, AJ and Wine have a variety of difficulties, including both internal and external problems that could constitute a significant risk to their future business operations (Carter, 2019). Mainly, AJ and Wine Inn confront a broad range of difficulties, including regulatory hurdles, food safety concerns, and changes in client behavior due to subpar service and high operating and food prices. Other challenges they may face with their commercial operations in the future include weak marketing tactics, fierce rivalry, inefficient management, and cyber-security risks.

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Cybersecurity concerns, laws, and a subpar marketing plan in this cutthroat digital economy are the three main problems that could significantly threaten its future commercial operation. A significant challenge for all businesses is the severity and risk of cyberattacks, as most firms have learned the hard way in the last five years due to the exponential growth in data volume, velocity, and variety. Restaurant owners are not the only ones alarmed by the potential of a cyberattack; customers and other stakeholders are also (Goedeker, 2021). Numerous businesses and customers have dealt with the most horrifying cybercrimes linked to email phishing, crypto-jacking, microchip defects, and massive data leaks. Companies like AJ and Wine are expected to experience cyberattack threats as they transition to the online realm. Due to the development of technology, there are deep fakes, social engineering assaults, clever contract hacking, cloud vulnerability, and cyber dangers increased by artificial intelligence (Belani, 2019). In actuality, most businesses use some of the most significant technologies.

Still, the cyber threat has persisted as an essential concern since attackers become more innovative daily and prey on companies and people who don’t take cyber security seriously. Regulations are one of the main obstacles for any business selling wine, beer, or spirits in the United States. For many companies like AJ and Wine, federal and state restrictions governing establishments that serve alcohol or sell beer are intolerable (Rickard et al., 2018). The rules are challenging to follow since they are constantly changing to address the health risks provided by alcoholic beverages. High taxation is another issue that has to be addressed. Regulatory concerns threaten the operation of the company in the future. Finally, AJ Food and Wine’s commercial operation may be negatively impacted by bad marketing strategy in this cutthroat digital industry. Most businesses continue to face danger from the fierce competition. Many companies are now using efficient digital marketing technology to enhance customer-based service and boost consumer satisfaction. However, AJ and Wine continue to rely on conventional marketing, which hurts customer service, administration, and operational costs. The continued operation of AJ and Wine in this rapidly changing and competitive internet economy is seriously jeopardized by this.

Best Strategic Action Recommendations

The AJ & Wines restaurant should prioritize cyber-security by establishing appropriate and effective organizational and security procedures, such as educating all stakeholders and staff on cyber-security tactics, conducting a security audit, and implementing a proactive risk management strategy (Belani, 2019). To lessen dangers to cyber security, they should also encourage strong leadership and excellent communication. The organization must adhere to state and federal laws to protect its commercial activities. Finally, the business needs to deploy

wisely. Among other digital marketing techniques are social media marketing, effective branding of the company’s services and goods, public relations (PR), content creation, and email marketing. Thanks to effective marketing methods, the company will become stronger and have a competitive edge in its future digital marketing.

Related Post: Using Technology to Promote Patient Safety and Quality Outcomes

References

Belani, G. (2019). 5 Cybersecurity Threats to Be Aware of in 2020. Computer.org. Retrieved 11 November 2021, from https://www.computer.org/publications/tech-news/trends/5- cybersecurity-threats-to-be-aware-of-in-2020.

Carter, F. (2019). Top challenges for the wine industry. Australian and New Zealand Grapegrower and Winemaker, (667), pp. 81–82.

Goedeker, M. A. (2021). Cyber Security: Cyber Risk Challenges for Future Leaders and Businesses. In Global Business Leadership Development for the Fourth Industrial Revolution (pp. 174-208). IGI Global.

Rickard, B. J., Gergaud, O., Ho, S. T., & Livat, F. (2018). Trade liberalization in the presence of domestic regulations: public policies applied to EU and US wine markets. Applied Economics, 50(18), 2028-2047.

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Evaluate trends, issues, and regulations that are impacting your company. Select three that you consider posing a severe risk to the future operation of your business,

Analysis of Major Trends, Issues, and Regulations

Explain your selections with recommendations for the best strategic actions that the (you’re) company should consider to eliminate or reduce the damage created by these risk factors.