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13.
Planning the development of cosmetics company by introducing blockchain technology [Elektronski vir]
Prosen, Lena ; Belak, Jernej
Our research focuses on Kozmetika Afrodita d.o.o., a leading Slovenian cosmetics company, and the impact of blockchain technology on its business environment. The cosmetics industry is increasingly ...emphasizing natural products and transparency, with health-conscious consumers demanding more insight into what they put on their skin. Many companies have adopted blockchain technology for transparency from ingredient sourcing to final production. We analyzed Kozmetika Afrodita internal and external environments, identifying opportunities, threats, strengths, and weaknesses. We found that digital transformation and blockchain technology would significantly benefit Kozmetika Afrodita.The new technology would enable the company to have excellent product transparency, consumer trust and competitiveness at home and abroad. Revenues would also increase. Despite some potential disadvantages, we do not perceive these as risky. Blockchain technology is a powerful tool for promoting sustainability, supporting green production processes, and enabling real-time collection and analysis of lowcarbon or green data. We analysed the internal and external factors of the company using STEEP (sociocultural, technological, economic, ecological, political-legal environmental factors) and IFAS (internal factors synthesis) methods. We found that blockchain technology would have a positive effect on the company’s product quality, customer loyalty, market position and revenue.
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