7001 Managing Strategy Operations and Partnerships Assignment Sample 2024
Tangible resources
- Land
The land is a tangible resource for Wincanton that include all the space owned and rented by the business for the purpose of hosting the supply chain process and operation unit or the where housing purpose. All the units rented and owned by the company for the purpose of packaging and supplying are also included to the tangible resource under land (Baah et al., 2020).
- Equipment and material
For Wincanton the equipment that are used for supply chain are tangible resources which include the equipment owned by the company for the purpose of packaging and supplying or other operation. In this manner the technical integration and advancement to improve the operation and process also identify the as the extension of equipment of which the business incorporated in enhancing the product line and economy of scale.
Intangible resources
- Brand reputation
The brand reputation of Wincanton is built over historical uniqueness where the company has been able to work hard in providing high quality supply chain processes and earn the trust of the consumer over decades (Herden, 2020). As a result the reputation of the brand is based on organisational culture and unique relation with the customer. It cannot be imitated by the competitor and therefore it can become a source of competitive advantage.
- Intellectual property
The production process of Wincanton and the supply process provide uniqueness which is safeguarded by the intellectual property right of the company preventing other players in the market from copying or having access to the unique supply process and input (Huang, 2019). It also provides Novelty to Wincanton making the supply chain process inimitable for the computing player
Heterogeneity
The resource based view under heterogeneity assumes that resources based on capability and skill can provide the company with competitive advantage (Karaman et al., 2020). For Wincanton the human resource activity and the existing talent or the training provided to the employee are heterogeneous in nature. It means that the strategic decision and choice made by Wincanton will differ substantially from its competitor under similar external environmental pressure. It will allow Wincanton to complete the product and outperform the competition in the market and achieve a competitive advantage by using a unique resource mix and bundle.
Immobility
Under immobility the resource based view assumes the resources available to the organisation that is not mobile and cannot be transferred from one organisation to another in the short run. All the intangible resources identified above for Wincanton are mobile and heterogeneous in nature at large. In the short run also some tangible resources are also in mobile and can also be homogenous to the player in factor markets depending on the strategic development and advancement of competing player
Porter’s five forces analysis
- Threat of new entrant
The UK based supply chain service providing company focuses on supplying a wide range of products and services across the UK. One of the main factors that impact the operation of the company is the threat imposed by new companies entering the market (Pogodina et al., 2022). For the new company setting up a store and starting the operation however demand a huge Capital requirement. Establishing a giant like Wincanton can go against the marketing effort and sales.
- Threat of substitute
There are a lot of services that are substitutes and most of the big companies nowadays for reducing the operation charge are using their own process of supply chain. Advancement in the technology and Drone service are also significant thread that are imposed on Wincanton in the form of service substitute
- Bargaining power of customer
One of the main concerns in the bargaining power of consumers is the large number of competing supply chain service providers in the market. The customers have the capability to choose the stores that provide maximum economies of scale with the best price. In addition to that, the availability of the customer is also very limited as it mostly deals with business to business operation.
- Bargaining power of supplier
Suppliers have comparatively less bargaining power when it comes to the service offered by Wincanton. Switching from one supplier to another in terms of any machinery and operation used by the company is much easier (Herden, 2020). The negotiation power as a result vests with the supply chain management company only and it can have an upper hand enclosing the deal while deciding the price.
- Competitive rivalry
The sector in which Wincanton operates has intense competition from a large number of players. Moreover companies operating at international level have better supply chain and logistics networks. Companies try to position themselves differently compared to their competitors through diverse marketing campaigns. The intense price war among the players also resulted in economies of scale for the supply chain management company.
Issues associated with the company
- Digital Transformation and Data Utilization: Maximizing data-driven decision-making is of utmost importance for Wincanton. Investing in advanced analytics tools can give them insight into customer preferences, supply chain patterns and operational bottlenecks that allow them to optimize resource allocation, reduce inefficiency and enhance overall operational performance.
- Global Expansion: Whilst Wincanton enjoys an established market presence, its geographic reach poses growth restrictions. Expanding into emerging markets or strategic alliances may open new revenue streams while mitigating overdependence on specific regions; moreover, localized expertise ensures adaptability to various market conditions.
- Innovation and Technological Leap: Emerging technologies like the Internet of Things (IoT), blockchain, and artificial intelligence can revolutionize supply chain management. IoT sensors can provide real-time tracking to ensure transparency while minimizing disruptions; Blockchain enhances security, traceability, and contract management, while AI predicts demand and optimizes routing routes.
- Eco-Friendly Practices and Initiatives: With environmental considerations driving consumer behavior and regulations, sustainability should not be discounted as an imperative. Integrating environmentally friendly practices such as route optimization to lower emissions or adopting reusable packaging into business operations can enhance brand reputation while drawing in new clients to be green.
- Talent Acquisition and Skill Development: A key element to any strategy’s success lies with an effective workforce. At Wincanton, this means investing in recruiting, retaining, and nurturing talent and inculcating cross-functional abilities through continuous learning to equip employees for evolving technological and operational paradigms (Huang, 2019).
By carefully considering their competitive advantage and identifying key issues, this strategy seeks to leverage existing strengths while addressing any weaknesses for long-term sustainability.
Option based on the new strategy
Prioritising issue and selecting two of them
Based on the above identified issue the issue that can have the topmost priority is data utilisation and digital transformation. Further the company can incorporate and Technology advancement to revolutionize supply chain management (Huang, 2019). In the same investment made in the business for Innovation and Technical Advancement, the eco-friendly initiative and practices can be considered. The Talent acquisition and skill development can be a part of the global expansion as the company focuses on expanding the business operation to International borders.
Option relevant for corporate strategy
Making investment in innovation and Technical Advancement is one of the most prominent options available to the company relevant to corporate strategy. Use of emerging Technology like block chain and internet of things can revolutionise the supply chain management of the business. Wincanton will be able to have a real time tracking solution to ensure maintaining transparency with the customer and minimise the description in the supply chain (Pogodina et al., 2022).
Eco friendly practice and initiatives in the supply chain is also a significant option available to Wincanton relevant to the corporate strategy. By considering environmental impact of the supply chain management the company will not only be able to reduce the carbon emission footprint but will also drive the customer behaviour by incorporating sustainability standards. In addition to that it can also have the support from the local and national government for inducing environmental friendly practices as a way for optimising the operation (Karaman et al., 2020).
Utilising the existing data of the customer can help the company to make a data driven decision which will further act as a significant option relevant for corporate strategy. By making investment in advanced Data Analytics tools Wincanton will have understanding about the preference of the customer based on which the operational bottle next and be eliminated and supply chain pattern can be modified.
Preferred option
The vision of the company is delivering Wrong Turn sustainable supply chain solutions and making a positive impact on all the stakeholders for becoming the best performing and trusted supply chain partner. As an employer by providing a safe and inclusive as well as ethical workforce Wincanton will be able to maintain its prominence in the market. For this it will need to incorporate advanced technology and make digital transformation (Huang, 2019). Similarly as a supplier it wants to present itself as an innovative supply chain management solution having sustainable operation. In order to achieve this objective using the eco-friendly initiative will help the company to highlight the environmental consideration and drive the customer behaviour.
Based on the analysis it can be stated that involving innovative and Technical advancements like the internet of things and block chain or Artificial Intelligence can help Wincanton in revolutionizing supply chain management.
Stages undertaken for the assessment
- Setting goals
Wincanton has undertaken the complex journey of formulating a new corporate strategy that requires careful deliberation, alignment with its vision, and responsiveness to stakeholder expectations. After an exhaustive evaluation of critical issues and priority-setting processes and developing relevant options, Wincanton ultimately decided to adopt a hybrid approach as their preferred strategy.
- Identifying issues
This approach blends technological innovation with sustainable practices, striking an ideal balance between Wincanton’s vision of becoming an industry leader and its commitment to ethical and environmental responsibility. Though challenges exist–from implementation hurdles to potential resistance–this hybrid solution offers comprehensive coverage for both short-term operational efficiency and long-term strategic sustainability.
- Gathering data
Wincanton can increase its competitive edge by adopting technology to optimise routes, improve data-driven decision making and enhance efficiency, and adopt eco-conscious practices such as emissions reduction and green packaging to satisfy an ever-increasing need for eco-conscious operations while strengthening its standing as a responsible corporate entity
- Interpreting findings
Formulating a comprehensive 10-year corporate strategy for Wincanton has been an immensely educational journey, marked by strategic tools, significant insights gained, and the synthesis of information that informed its final decision-making process. This reflection seeks to uncover the purpose of taught processes, pivotal learning outcomes and their integration into decision-making processes.
The Resource-Based View (RBV) framework further deepened our assessment by shifting its focus onto the resources and capabilities that fuel Wincanton’s competitive edge. This phase explored their assets, human capital and organizational competencies that drive operational excellence – for instance, how their fleet, warehouses and skilled workforce collectively create value – solidifying that competitive advantage results from using unique resources efficiently to produce incredible value also using this understanding as a lens through which strategic options could be assessed according to whether they synergized with or enhanced these existing resources.
Porter’s Five Forces provides insight into external dynamics that shape Wincanton’s competitive environment. I gained insight into an industry’s competitive intensity by investigating factors like new entrants’ threats, bargaining power of buyers/suppliers/rivalry among competitors/and the influence of substitutes. This analysis demonstrated the necessity of innovation as a strategy to preserve and extend competitive advantage. It demonstrated how more than simply relying on existing strengths would be necessary in an industry with rapidly shifting dynamics, leading them to thoroughly examine strategic options to ensure they were resilient against competitive pressures.
- Using theories and models
An essential step in my evaluation process was prioritizing critical issues. Given that no corporate strategy can address every challenge, I identified two issues essential for Wincanton’s future success as priorities for prioritization. This step highlighted the power of focus: it shows that successful strategies use their resources, efforts, and initiatives towards addressing those most impactful problems–reinforcing my understanding that successful strategies do not solve all problems simultaneously but instead select only those most pressing for resolution.
- Recommending solutions
Examining options through Wincanton’s vision and stakeholder expectations was an exercise in decision-making complexity. It further confirmed the notion that successful strategy implementation involves meeting both company aspirations and stakeholder needs that influence or impact its journey. Throughout this phase, choices should reflect their identity while meeting stakeholder interests simultaneously.
At the conclusion of a rigorous evaluation process, selecting the hybrid approach as Wincanton’s preferred option was decided through informed decision-making. Its choice was not random, and instead, it reflected our deep understanding of our internal dynamics, industry landscape, stakeholder expectations and stakeholder needs. Taking this holistic approach highlighted its holistic nature of corporate strategy–integration between technology and sustainability is not simply about taking advantage of market trends but recognizes multidimensional aspects of success that contribute towards its totality.
The knowledge gleaned through these processes was instrumental in informing our final decision. Understanding that competitive advantage comes from effectively leveraging resources and capabilities underlined the necessity of aligning strategies with these strengths, while an understanding of an industry’s competitive landscape highlighted resilience against rivalry or disruptive forces.
Activity 4 References:
Sah, B., Gupta, R. and Bani-Hani, D., 2021. Analysis of barriers to implementing drone logistics. International Journal of Logistics Research and Applications, 24(6), pp.531-550.
Huge-Brodin, M., Sweeney, E. and Evangelista, P., 2020. Environmental alignment between logistics service providers and shippers–a supply chain perspective. The International Journal of Logistics Management, 31(3), pp.575-605.
Task 2 References:
Baah, C., Jin, Z. and Tang, L., 2020. Organizational and regulatory stakeholder pressures friends or foes to green logistics practices and financial performance: investigating corporate reputation as a missing link. Journal of cleaner production, 247, p.119125.
Herden, T.T., 2020. Explaining the competitive advantage generated from Analytics with the knowledge-based view: the example of Logistics and Supply Chain Management. Business Research, 13(1), pp.163-214.
Huang, Y., 2019, December. Strategic Environment Analysis of Logistics Enterprise based on SWOT-PEST-Michael Porter’s Five Forces Model–Taking SF Express as an Example. In 2nd International Symposium on Social Science and Management Innovation (SSMI 2019) (pp. 44-50). Atlantis Press.
Karaman, A.S., Kilic, M. and Uyar, A., 2020. Green logistics performance and sustainability reporting practices of the logistics sector: The moderating effect of corporate governance. Journal of Cleaner Production, 258, p.120718.
Pogodina, V., Chistyakova, A., Ershova, N., Fomenko, N. and Danilochkina, N., 2022. Formation of a competitive development strategy for a transport and logistics company. Transportation Research Procedia, 63, pp.1595-1600.
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