Assignment Sample on Professional Development
Company Profile
Fargo Scooters Limited is a company based in Coventry, United Kingdom, specialising in the sale, service and maintenance of various brands such as Vespa and Hanway motorcycles and scooters (Fargo Scooters, 2017). The company started operations in 2015 and does not produce motorcycles and scooters but buys them under resale agreements with reputable manufacturers such as Piaggio & C. SpA Group. Information on these products and services can be found in the Coventry showroom or on the official website. It should be noted that Fargo scooters are owned by small and medium-sized enterprises (SMEs) as their average turnover is well under £ 2 million.
Business environment
Internal operating environment
The company’s internal business environment limits the factors that directly affect its operations and can be controlled. The SWOT analysis assessed the internal business environment and strategic position of Fargo Scooters and pointed out the company’s main strengths and weaknesses as well as opportunities and threats.
Strongside
Fargo Scooters’ competitiveness lies in its ability to negotiate marketing agreements with major world manufacturers, ensuring that its showroom has a well-known brand such as Lambretta (Fargo Scooters, 2017). Another major advantage behind its competitive advantage is its strong network presence, as it strengthens the company’s ability to expand its market base continuously. The same goes for customer business brokerage, which considers brand awareness, the wide variety of revenue streams that lead to low business / financial risk and its strategy in Fargo’s popular trading city (Sousa & Rocha, 2019).
Weakside
Overall, Fargo Scooters’ decision to focus on premium motorcycles and scooters has prevented the company from successfully entering the lucrative and fast-growing segment of the low- and middle-income market. Also, this growth continues to hamper as sales and margins over four years are still relatively low (Bickle, 2017). To make matters worse, Fargo scooters rely heavily on retailers to achieve their organisational goals. Since the company can close, even if its main producer unexpectedly stops such transactions, this is a significant risk.
Opportunities
The Fargo scooter’s main growth potential includes the possibility of expanding to other cities in the UK. Managers should first focus on opening a showroom nearby, such as Birmingham, increasing its overall profitability (Bickle, 2017).
Threat
Currently, Fargo Scooters face stiff competition from many other motorcycle and scooter manufacturers in Coventry. Most of these competitors continue to offer buyers incredible discounts to increase their market share seems to improve the problem. That makes the Coventry motorcycle and scooter dealer a relatively small profit (da Costa Nogueira, Sousa & Moreira, 2018). It should also be noted that these commissions are jointly threatened by low-cost manufacturers who want to operate a business model through direct sales.
External Business
As mentioned above, the five Porter forces models can be used best to analyse the Fargo scooter’s external business environment.
Competition
Fargo Scooters faces competition that appears mainly on two sides: overly aggressive competition between other companies and legal entities. Companies like Kestrel Honda offer their customers incredible discounts to secure their market position and best demonstrate this point (Fargo Scooters, 2017). Second, due to low replacement costs, competition is fierce and increases the likelihood that Fargo Scooters’ customers will decide to buy products from competitors.
Negotiating power of the client
Fargo Scooters’ customer remains very strong. This explains why customers can get discount checks like other companies. Consumers have such high capacity, mainly due to declining switching costs (Zhang, Cao, & Wang, 2018). This makes it easier for all customers to buy products sold by competitors such as Ducati Coventry and Coventry motorcycles and scooters.
Negotiating power of tenderers
Usually, when many sellers choose, it will increase the company’s bargaining power with sellers. As mentioned earlier, Fargo Scooters buys its products under agreements between distributors and manufacturers. The company can sign concession agreements with many domestic or foreign manufacturers (Popli, & Rizvi, 2017). As a result, the supplier’s ability to meet their requirements and affect the business is too small.
Risk of new members
The risk for potential beginners of the Fargo scooter and other well-known competitors is relatively high. This is because only a limited financial investment is needed to create a business that competes effectively with Fargo Scooters ((Fargo Scooters, 2017). This may explain why, even though Coventry did not have a motorcycle showroom in 2014, it is now around 20, and that number seems to be increasing every day.
The risk of substitute
Fargo scooters threat for substitute products and the service is very high. This is mainly because many market options can directly compete with the company’s products, ranging from harmless wheels to cheap scooters. To make matters worse, most of these other products are sold at a discounted price, making bad motorcycles and expensive scooters a difficult task.
Approach
In an interview with Stephen Parker-Brown, CEO of Fargo Scooters, Mike said the company’s management was coherent in an employer survey. This management philosophy requires the adoption of different management styles according to specific circumstances. In the interview, Fargo Scooter Company’s CEO pointed out that authoritarianism and a transformative leadership style are often used (Fargo Scooters, 2017). The first is the strategic management model, which focuses on empowering employees to more actively contribute to achieving the company’s goals. In terms of communication, the Fargo scooter has a very open, direct, and interactive communication method.
Corporate culture
Fargo Scooter has a strong and innovative corporate culture. The fact that agility and innovation enable companies to facilitate a changing business environment better demonstrates the importance of this culture for the company’s overall competitiveness and success (Fargo Scooters, 2017). This explains why the company will continue to differentiate itself by introducing new well-known brands each year after joining new distributors.
Industry Position
In terms of performance and level of development, Fargo Scooters is a relatively young company. Therefore, the company is in a rather unstable position in the industry as it is still struggling to find its place in the Coventry motorcycle and scooter market.
Recommendation
Joining a strategic alliance
It is pointed out that the financial capacity of Fargo scooters is relatively small due to lower prices than the nominal value. Companies’ best way to manage limited resources is to form strategic alliances with other organisations that specialise in selling motorcycles and scooters through agents (Popli, & Rizvi, 2017). The main advantage of strategic alliances over mergers or acquisitions is that strategic alliances maintain their independence while working towards common goals and thus maintain the autonomy of action.
Focusing on low and middle-income markets
Fargo scooters must accelerate the proliferation of low- and middle-income market segments to cope with declining sales of valuable products. Numerous studies have shown that these two market segments will be the backbone of the UK car industry in the future (Gunter & Mills, 2017). Therefore, the company needs to invest a lot of energy to increase its overall market share in these two old business segments.
Building a strong brand
These companies have truly powerful international brands and can only create and maintain their brands by making the final customer service the main marketing and product theme. More importantly, for the Fargo scooter, the process of marking a company must be positioned differently and clearly from all the other companies it competes with (Gunter & Mills, 2017). For example, this can be achieved by identifying customers’ special needs in the motorcycle and scooter industry and then allocating all resources and energy to ensure that the company’s operations and processes are taken care of from the ground up.
Implementation of recommendation
Recommendations on strategic alliances
Establishing strategic alliances with direct competitors is very difficult and requires many trade corrections. The first is to change the structure of the two companies to ensure their collaboration. The guiding principle here should be to allow Fargo scooters to have a power flow and management chain that does not conflict with comparable business systems that compete in business and intend to make strategic adjustments (Popli, & Rizvi, 2017). Secondly, the proposal’s implementation also needs to introduce a new corporate culture that reflects a sense of community and cooperation as an initiative of the strategic alliance. Intercultural conflicts are one of the main factors that often prevent companies from working well.
Targeting low and middle-income clients
The easiest way to implement advice on low- and middle-income market segments is to work with low-cost manufacturers, especially companies that specialise in low-cost products and services. Fargo Scooter can not decide to lower the price of existing motorcycles and scooters only because it is available to consumers with low and average incomes. In a sense, such a decision would be disastrous because it would lead to huge losses and therefore put increased pressure on the company’s declining capital (da Costa Nogueira, Sousa & Moreira, 2018). Developing a new product line will bring significant change to your business, and therefore this information should be shared with stakeholders. Therefore, the company must use an open communication channel to disseminate information to different stakeholders.
Recommendation for building a strong brand
Implementing recommendations to increase corporate brand activities to overcome fierce competition also requires time and resources and should be carefully planned. Therefore, the first step in this process should include industry and market analysis to identify customers’ unique needs that Fargo scooters should focus on (Sousa & Rocha, 2019). Once these needs have been identified, they should establish a conceptual framework to meet those needs while improving competitiveness.
Boom time at FarGo Village as shops expand just four months after inaugural
Two shops at Coventry’s FarGo Village are now growing their administrations – only four months in wake of inaugural at the city’s original inventive center point.
According to Coleman, D., 2018, Fargo Scooters – the vintage Vespa and Lambretta trained professionals – need this week got selective vendor from the Piaggio Group. It implies most recent developments from Vespa, Gilera and Piaggo are currently accessible on their base around there.
Furthermore this month, famous blessing workshop ‘Simply 14a’ has extended its commercial also moved into a greater workshop at the town – in the wake of appreciating a flood in exchange.
According to Coventry’s £5million FarGo Village, which is home-based to in excess of 30 private companies, unlocked towards finish of September.
From that point forward, the Camden Lock-roused imaginative center has delighted in proceeded with progress – drawing in huge number of customers every week.
According to Pattajoshi, B., 2018, Fargo Scooters author Steve Parker-Brown said: “This is a particularly fabulous accomplishment particularly after just four months of commercial, also a sound representative for my prime supporter Alex who has been eager in his endeavors to create Fargo Scooters a particularly appealing suggestion for this notorious Italian brand.
“The main conveyance has effectively created a serious ruckus, and the difference among new and vintage bikes on offer is an incredible sight.”
Proprietor Amanda Brown said: “We encouraged to a bigger workshop since we accept that Fargo Village will proceed to create and develop. Through a different choice of workshops plus occasions it’s an extraordinary climate to be in and through extra units, containing the music setting approaching finish there is a decent vibe towards the spot.”
According to Hannon, K.E., 2017, The extending organizations have remained lauded by Ian Harrabin, head of CDP/Mazing – the designers behind FarGo Village. He said: “The arrangement for Fargo Scooters is a genuine upset for the folks, for FarGo Village and the city. These vendors are not given out daintily and to get one after a couple of long periods of exchanging is a stunning accomplishment.
“Also, to have the option to take on a lot bigger premises this rapidly, minimal Just 14a, truly is demonstration of everybody associated with making it a triumph. We wish them the absolute finest of karma.”
Company looks to bring electric rental scooters to Fargo
According to Leon Castaneda, P.S. and Catalano, C.J., 2018 “Having miniature travel choices is a critical advance in associating occupants,” said the president and CEO of Downtown Moorhead Inc.
MOORHEAD — Fargo-Moorhead authorities are reflecting on the chance of allowing a California to organization lease electric bikes in the two urban communities as a harmless to the ecosystem methods for getting to school classes, visiting the riverfront or going on a shopping outing.
Derrick LaPoint, president and CEO of Downtown Moorhead Inc., said the bike rental organization called Bird reached the city of Moorhead with the thought and introduced their proposition during the current week’s City Council meeting.
In a live video pitch to the gathering, Bird account chief Kate Shoemaker said the bikes wouldn’t cost the city a dime. Also, she quickly handled the issue of bike “mess.” This supposedly has been an issue in different urban communities, with riders leaving bikes dispersed heedlessly whenever they’re finished riding.
“It truly is our duty to ensure there is no messiness with these dock-less models,” Shoemaker said, adding that the organization would enlist an armada chief to manage stopping, upkeep, charging stations and mess issues.
LaPoint said neighborhood law authorization organizations have been informed that the city is thinking about the proposition.
Shoemaker says the bikes would assist with fossil fuel byproducts, gridlock and offer a fun and moderate choice for riding in and out of town.
“Moorhead has around 45,000 individuals, and it’s not your city where you for the most part see these sorts of ideas, yet the city is developing,” LaPoint said. “We’re actually divided, and how you interconnect these regions until you have greater thickness is vital. Having miniature travel alternatives is a vital advance in interfacing occupants.”
The Moorhead City Council has not yet acknowledged the bike proposition, however city pioneers communicated interest and brought up issues concerning whether the bikes could be crashed into downtown Fargo.
According to Girasa, R., 2020. “Bicycle paths — we don’t have as some yet, we actually have some beautiful low quality roads,” said Moorhead Councilwoman Deb White. “We are a line city with Fargo, and would you say you are anticipating cooperating with Fargo also, in any case wouldn’t it be the situation that they wouldn’t have the option to crash into North Dakota?”
“That is a smidgen of the chicken before the egg, yet we are anticipating cooperating with Fargo and are in conversations with them,” Shoemaker said.
City of Fargo vital arranging staff are investigating permitting the bikes around there, however have not settled on any choices yet, said Gregg Schildberger, a city representative. Law changes would be required for the proposition to be considered by Fargo city chiefs, Schildberger said.
Moorhead Councilman Matt Gilbertson communicated question that an electric bike administration in Moorhead would work, halfway in view of the space’s cruel winters.
“I had the advantage of riding one along the sea shore in San Diego. Furthermore, it is by all accounts something beneficial for along the sea shore in San Diego. I don’t know whether it’s the awesome getting to one spot from another in Moorhead,” Gilbertson said.
How renting a scooter would work
According to Wells, R., 2017 ,Bird boosts riders to wear caps and park appropriately by giving limits, Shoemaker said.
Also, all bikes would be secured in “geo-speed” and “geo-fencing” impediments that hold riders back from surpassing certain velocities or leaving assigned zones. Global positioning frameworks on the bikes guarantee the vehicles are not lost.
The bikes weigh around 45 pounds, top out at 15 mph and can travel 30 miles prior to requiring a re-energize, as indicated by the organization.
To utilize a bike, another rider should download the Bird application, consent to a client arrangement, check that they’re in any event 18 years of age, add a charge card and go through instructive instructional exercises. After a bike is stopped at a spot around there, another rider can utilize it.
The standard expense to lease a bike is $1 each moment, with a normal expense of about $5 a ride. Limits would be accessible for low-pay riders and different gatherings, as indicated by the organization.
Reflection
So far, I think this unit is one of my best fields of study, in large part because it has changed my view of consultancy. Before doing so, I believe that professional consultants should always work hand in hand with business professionals to uncover business problems and find common solutions to those problems. However, this unit taught me that even professional consultants could work independently without client staff’s help. My personal views on how to deal with different aspects of the model according to Gibb’s mindset model are as follows:
Description of the experiment: I describe the model as intuitive because I have dealt with so many teaching materials and tasks.
My overall sense is that this unit is a very exciting experience: I can only equate this idea with diving into an unprecedented adventure, which has no expectations and will eventually retire from the adventure. I am very excited about the amount of new knowledge you have gained. This unit is a perfect combination of stimulating and interesting actions. It’s too difficult, but it’s exciting because you can learn new concepts.
Overview: At first, since I do not know how to handle your units, the units’ complexity is a big challenge for me—overall learning outcomes of the problem. But over time, I was able to adapt and participate more actively in the classes fully.
Plan: I look forward to publishing reports and articles by professional consultants in the future. I firmly believe that the knowledge and skills I have acquired in this course will help me achieve this professional ambition. My action plan also involves using the in-depth knowledge gained in this module to manage future operations better.
References
Bickle, J. T. (2017). Developing remote training consultants as leaders—Dialogic/network application of path‐goal leadership theory in leadership development. Performance Improvement, 56(9), 32-39.
da Costa Nogueira, D. M., Sousa, P. S., & Moreira, M. R. (2018). The relationship between leadership style and the success of Lean management implementation. Leadership & Organization Development Journal.
Fargo Scooters (2017) Fargo Scooters & Motor Cycles: About Us (Online). Available from < https://www.fargoscooters.co.uk/about-us/ > (03 March 2021).
Gunter, H. M., & Mills, C. (2017). Consultants and consultancy: The case of education. Switzerland: Springer International Publishing.
Popli, S., & Rizvi, I. A. (2017). Leadership style and service orientation: The catalytic role of employee engagement. Journal of Service Theory and Practice.
Sousa, M. J., & Rocha, Á. (2019). Leadership styles and skills developed through game-based learning. Journal of Business Research, 94, 360-366.
Coleman, D., 2018. Building Brand Experiences: A Practical Guide to Retaining Brand Relevance. Kogan Page Publishers.
Pattajoshi, B., 2018. The Rural Banking Genius: Strategic Thinking. Educreation Publishing.
Klang, J., Roselius, E. and Peltonen, P., 2018. Liikenneympäristön, sään, kelin ja kunnossapidon vaikutukset jalankulku-ja pyöräilyolosuhteisiin: Case st 110 välillä Turku-Kaarina, vaiheen I tulokset.
Hannon, K.E., 2017. Great Jobs for Everyone 50+, Updated Edition: Finding Work That Keeps You Happy and Healthy… and Pays the Bills. John Wiley & Sons.
Leon Castaneda, P.S. and Catalano, C.J., 2018. Initiatives to Effectively Help Reduce Traffic Congestion in the Tri-Valley. SMU Data Science Review, 1(4), p.14.
Zambrana, I.G., DeLaTorre, A.K., Kim, J.Y., Reno, J., Moore, K.D., Pieper, J., Wheeler, J., Zinnanti, N. and Jose, B., 2019. Life-Space Mobility and Aging in Place.
Girasa, R., 2020. Artificial Intelligence as a Disruptive Technology: Economic Transformation and Government Regulation. Springer Nature.
Wells, R., 2017. Scale in Contemporary Sculpture:” Enlargement, Miniaturisation and the Life-Size”. Routledge.
Zhang, L., Cao, T., & Wang, Y. (2018). The mediation role of leadership styles in integrated project collaboration: An emotional intelligence perspective. International Journal of Project Management, 36(2), 317-330.
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