Lands Lost revamps and resells antique items in hopes of reminding consumers that technology is not the only thing necessary in the modern world. They are a company rooted in tradition and adhering to longstanding values. Deloitte was asked to provide feedback on how Lands Lost can gain operational efficiencies by reevaluating its current business environment.
Business situation
There was a big trend in previous years that pushed the company into major retail stores and before owners Jenny and Logan knew it, their homegrown shop was franchised into malls around the country. Lands Lost is still running through a simple intern-made technological infrastructure and prides itself to users that even with major growth, they still prefer paper and pen to computer systems.
Next year, their daughter Lillian will be taking over the family business. Lillian is known as the family rebel as she majored in Business Administration with minors in Information Systems and Computer Science. She recognizes the need for a tech revamp for Lands Lost but also wants to keep her family traditions alive.
Problem statement
Her main concern is that while the paper and pen system is currently working, she has heard employees beginning to talk about rumors of lost invoices, documentation, and even money not being correctly reported at the end of shifts. Many documents have gone missing and consumers have begun complaining that the shopping experience might be becoming “too lost in the times”.
Question 1
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Your Answer
Correct Answer:
D: All of the above
These are all risks in the current business situation:
The current environment is conducive to potential fraud
Inaccurate reporting which could lead to uninformed business decisions
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