Management Report Sample
Introduction
The process of using management tools can help an individual to analyze the various factors of an organization such as the marketing, financial, and management operations. In order to provide a clear understanding of the topic, this following report aims to discuss the various marketing and financial operations of the company “Robust Wheels”. Robust Wheels is a UK-based small automobile manufacturing company that focuses on providing bicycle manufacturing products to its customers. With the growing business market, this company aims to achieve the organizational vision that is to become the first choice of automobile manufacturing services and in well-being and beauty products and provide exceptional caring for people and communities across the globe (SimVenture-uk.com, 2022). The purpose that this organization aims to follow is to help people from across the globe to lead a healthy and happier lifestyle. The main objective that the company aims to achieve is to improve the life of the people, protect the environment, develop sustainable products for its customers and provide great customer service.
In this report, the focus will be provided on discussing the various aspects such as management theories, practice’s, and frameworks with the help of a reflective statement. By using the “Gibbs reflective cycle”, this report aims to provide a clear understanding of the outcome of analyzing the management, finance, marketing department of the chosen company. In addition to this, the following reflective report has discussed the importance of the strategic management models and frameworks and has identified the learning outcomes as well as the effectiveness of these models in terms of analyzing the chosen company. Finally, the report helps to provide a clear justification of these theories and models and draws a conclusion statement with appropriate recommendations starting solutions for future improvements.
Evaluation of the theories, frameworks, and toolkits in practice
Company performance
Robust Wheels is a UK-based manufacturing company that focuses on providing bicycling manufacturing products to its customers. Currently, this company is operating all over UK and also maintaining international business in Ireland, Italy, Norway, and so on. Established in 2006, this company is one of the most widely spread bicycle manufacturing companies in the world. With its global business, this company has managed to showcase a great performance over the year. However, the evaluation of this company has managed to identify some of the issues that this company faces such as with the help of the SWOT analysis, the weakness and threats due to the increased global market have been identified. The Ansoff matrix has helped to determine the impact of new and existing business markets for the company. With the help of the AMO model, the main influential factors for the company’s motivation and opportunity have been identified that have helped to determine the company’s performance in the last few years. The company has managed to show exceptional growth in the last decade. With the introduction of new and innovative products and by expanding its business on a global scale, this company has achieved a rise in sales and financial returns. In the 4th quarter of 2020, the company has managed to achieve a 15% increase in overall sales, and the bicycle-manufacturing sale was increased by 22% from 2019. In terms of operational highlights, this company has managed to gain almost 40% of the premium and modified bicycles models. In the last few years, the company has introduced 44 new bicycle equipment and is now selling over 500 modified bicycles in the global market. As per the 1st quarter of 2021, the company has gained a total sale of £168.318m, which is approximately 7.8% from the last recorded sales. However, in the 1st quarter of 2022, the company has managed to display an overall operating income of $130m and has faced an overall loss of $53,000. Despite these losses, the company now provides more than 20 types of bicycle services in their offline and online stores and aims to increase its business model by gaining a more customer base. By evaluating the overall performance of this company, it can be found that the company has managed to showcase a great growth in the past few years with great sales and financial returns. However, a sudden decrease of the company states that due to the issues in management, marketing and the impacts of recent challenges the global business market have caused the company to lose its revenue and market advantage. By evaluating the marketing strategies of the company, it can be seen that the use of omnichannel marketing provides the colony a strategic advantage in terms of attracting more customers and in retaining them. On the other hand, the issues with the global business market have posed great challenges in the company’s growth. Due to the new norms in the global market, the company had to focus more on online marketing strategies and the sales of the local and offline stores were hugely reduced. Moreover, the changing nature of the business market has also impacted the organisation’s operational structure. Due to these impacts, the operational decision-making process of the organisation and the financial consideration were affected that causing the company to lose revenue and face business loss. Thus, by evaluating the organisation’s performance it can be seen that the issues within the business s structure and with the emergence of the recent challenges, the company’s overall growth was affected and the entire structure of the organisation affected.
Identification of issues
Organisational performance can depend on the effectiveness of the various departments in a company such as marketing, management, operations, human resources, and finance (Bititci et al., 2018). Due to the variations in performance in such departments, an organisation can face vicissitudes in its business model. In terms of the chosen organisation. The evaluation of their performance shows a similar pattern of business growth and fall. By evaluating the company’s performance, it can be stated that due to the variations in the organisational departments the company has managed to face these challenges. The evaluation states that due to the recent changes in the global business models the company has faced several issues in terms of maintaining the business models (Goshu, and Kitaw, 2017). The various issues include demographic barriers, economic barriers, technological barriers, and ethical or legal barriers. For Robust Wheels, demographic barriers come in the form of market segmentation. The company needs to pay mind to the recent trends and segment their products in groups. For example, the product attractive for baby-boomer generation is not really attractive for Gen-X and Gen-Y. Thus, separate demographic strategies needs to be availed to resolve such issue. On the other hand, economic barrier include loss due to Covid 19. However, at the same time, it can be argued that in the post-pandemic situation, the rise of bicycle is inevitable since people would prefer to have personal transportation for short-distance travels rather than public transport. Due to lower funds, the company lack the resources to successfully develop technological modifications. However, it can also be eliminated when the sales of the company increases.
I have applied the PESTLE model, which shows that the recent changes in the global market including the UK’s business market have forced the company to change its business model and close many of its physical stores. Due to this problem, the company has faced a loss in business growth and sustainability. The SWOT matrix shows the recent development of the competitive market due to the emergence of new and innovative business competitions. This recent development in the business market has posed several challenges in the financial returns also. The Ansoff matrix shows that the new products and the new market in the UK business market have posed a great challenge towards the company’s growth in the business market (Baird, 2017). The impact on the financial performance has been caused due to the changes in the business models; the porter’s five forces model helps us to show the changing nature of the consumer’s buying behaviour in recent times. These changes along with the changes in the business practises have caused several impacts on the company’s business performance. Due to the recent development of new rules and regulations of business practises, the company has been forced to implement new business methods and focus on online stores (Smith, and Bititci, 2017). This has posed a great impact on the performance of the offline stores and as a result, many offline stores in all over the UK had to be shut down. With the shutdown of such stores, the company has faced issues related to financial and operational performance. The impacts on the operation performance have caused the company to cut down the opportunities and reduce its business expansion in the global market. The financial analysis has been considered by using the cash flow revenue model and the balanced scorecard model. These models have helped us to gain a strategic understanding of the organisation’s financial performance and have helped us to identify the causes of the recent changes in the business model (Bakotić, 2016).
Therefore, it can be stated the use of the management tools has helped us to gain a strategic understanding of the various departments of the organisation. Moreover, these tools have helped us to make strategic decisions to develop this report. With the analysis of the company’s strengths, weaknesses, the evaluation of the current business market, and the identification of the issues by analysing the various factors of the competition market, the decision-making process as well as the individual performance of the team members were increased. Lastly, it can be stated that the use of the management tools model and theories have helped us to gain knowledge on the relevant topic and have helped us to develop a strategic reflective report with the help of enhancing our decision-making and evaluation skills.
Linking theories to a different department
Familiarly the integration of the theories, frameworks and toolkits enable the effectiveness of the practice to deploy the wide range of experience and the potential understanding of the concepts in resolving the issues. The implication of the theories and the effective understanding of the theories in practice assisted me to reduce the likelihood of the issues occurring while experience is being acquired. The explanation of the theories and the practices explain the process with the suitable suggestions to thrive the change in action and development of the interventions. The evaluation of the theories and framework in practice to the Robust Wheels developed the basis for effective evaluation to make the explicit assumptions on the practice as well as about how the frameworks should work.
Porter Five Forces
The evaluation of the theories in practice has applied to a stimulating task of running the business of Robust Wheels and monitoring the performance as well as it includes the effective decision-making in the highlight of the success to germinate the competitive environment. The integration of the framework “Porter Five Forces” help me to recognise where the power lies in the business of Robust Wheels and it is useful to understand the strength of that organization current competitive position as well as the potential strength of that position that Robust Wheels may look to move into. According to the recent statistics, the industry has achieved a growth of 22% from the previous fiscal years. The five forces helped me to make sustainable decisions with the team members and that framework assisted me to analyse what are the strongest influence entering into the industry would be profitable (Bruijl, 2018). I felt happy with the potential outcomes of the result and it is intended to display the power of the supplier and buyers associated with Robust Wheels leads to the profits. I applied that the theory to analyse and understand the company strategy and the business operations that is the prime aspect of the Robust Wheels.
Roger Theory
To evaluate the Robust Wheels’ working operations with the Roger theory, I integrated how the managing behaviours aim to help the workers of the Robust Wheels to assist the young people to reduce the challenging behaviours from appearances. The effective inclusion of the theory measures the operational process of the business with the “Protection Motivation Theory’ that was built as the framework for understanding the importance of the persuasive communications although it has been observed that is widely used to predict the health-protective behaviour.
VRIO
For the effective sustainable decision making for the company Robust Wheels, I incorporated the renowned framework VRIO in the process as the internal analysis tool that is used to categorise their resources relies on whether they remain on certain business traits outlined in the framework (Hernández and Garcia, 2018). It can be seen that the products offered by Robust Wheels are less pricy and have much advanced gears compared to its competitors. The implication of the framework helped me to recognise the Robust Wheels’ resources that are effective for its business. This helped me to improve the organisation’s competitiveness and make relevant simulated business decisions. I felt satisfied that I implanted the framework in practice as the systematic analysis of the process helpful for me to build the effective strategies for finance operations of Robust Wheels by facilitating the tangible and intangible business resources.
Value Chain
Whilst the analysis of the framework, it can be observed that, the organisation’s strategy along with the value chain lies in terms of increasing their effectiveness for creating the long-term advantages. The decision-making process is the effective part of the business that need to be supported by the proper resources and the theoretical practices to flourish the business functionalities by enhancing the business sustainability. As carbon emission is a major problem in bicycle manufacturing, the company is utilising various ways like reverse logistics to improve sustainability. While doing stimulation business, Robust Wheels targeting the operations business valued chain analysis helped to understand the business’s efficiency so that the organisation can execute the most value for the minimum possible cost. After the evolution of the value chain, I can summarise that the end goal of the company is to generate competitive advantages in the market of UK by raising the productivity while managing the minimum cost. The value chain is the potential aspect for the company as it supports the Boost decisions for the different business activities and diagnoses the effective points of ineffectiveness for installing correct actions. The analysis and the evaluation of the process I felt happy that I integrate the value chain in practice as it helps the company to maximize the business output by optimizing the activities with minimal organisational expenses.
Ansoff matrix
The implication of the Ansoff Matrix in the business stimulation of Robust Wheels helps me to understand the effective actions that can be taken by the company based on the scenario of the market and the products currently present. The matrix displays the four potential strategies related to the “new and existing market versus the new and existing products” so that the company can integrate this effective tool to plan its strategies for sustainable business growth (kgmoore.co.uk, 2022). The inclusion of the matrix and the appropriate evaluation of the strategies can help the organisation to encourage the people to identify the correct products and use more of them by raising the sales force of the business activities.
Leadership
The leadership framework is effective for me to recognize the types of leadership styles the company both follow to structure the business operations to excel the productivity. The effective leadership in the business can bolster and encourage teamwork and cultivate sustainable decision making by sketching the purpose and directions. According to Ciulla (2020), the implication of the framework is an effective part of the organisation as it is interconnected with the team members and potentially streamlines the effective planning and strategies to escalate more opportunities for the organisation to maintain the business agility. The implication of this framework is also effective for me to understand the perception and leadership contribution towards the business that helps the industry to maintain the top-notch position in the market (med.upenn.edu, 2022).
The analysis of the theories and the frameworks are effective for the Robust Wheels to germinate the business operations by maintaining the business activities related to the various departments (like ‘strategy, operations, marketing, finance, leadership, HRM and sustainability”) to improve the business growth.
Explanation of underlying causes or implications
Various types of causes can affect the business states and implications of this can create obstacles towards the Boost to characterise the business process. The lack of control in the finances business can be the common cause that can affect the business operations of Robust Wheels and implanting effective theoretical perspectives can reduce the impact of this by managing the business procedures (opentextbooks.org.hk, 2022). The integration of the Ansoff Matrix is effective for the industry to analyse the conditions of the market and evaluate the effective strategies to avoid the situation and significantly, it can maintain the business management and finance operation of the company. Poor cash flow or the weak leadership can affect the business flexibility as well as affect the business reputation. Besides that, the lack of planning or strategic issues can create obstacles towards the footprint of the business and generate an adverse impact on the business legislation. The organisation can incorporate the effective leadership styles to recognise the best ways and includes the team members for the innovative strategic ideas to lead the success in business (kgmoore.co.uk, 2022). The implication of the appropriate theories and frameworks can cultivate more sustainable opportunities for the various departments of Robust Wheels and enhance the business performance and the potential market growth by raising the business strategical innovation.
Conclusion
The purpose of the report is to evaluate the theories, frameworks and the model stimulating practice to understand the business stimulus as well as the primary aim of the research presented in the process to stimulate the problem-solving opportunities for effective clear decision making. In conclusion, the report draws the extensive theories and the framework that are aligned with the different departments to improve the visions, mission, planning, strategic objectives, and decision-making paradigm. The phenomenon of the theories and the implication of the theories and practises related to the business environment of Robust Wheels can ensure effective ways to enhance the business process by fostering sustainable goals. By employing different MBA toolkits, I was capable to improve my decision-making and management performance in Robust Wheels’ stimulation experiences.
Recommendation
The effective ways and integration of theories advocate the issues the company is facing nowadays that can be optimised the scenario by embracing the effective strategic movements. The proper analysis of the root cause and the working on the issues with solutions can optimize the business process as well as complete monitoring and tracing of the process enrich the reliability of the services. It is recommended to integrate the training and development programme with the employees by measuring the business growth and it can be effective for Robust Wheels to deploy the human resources in practices for better operational opportunities. The company can work on the quality services and the technologies, as it is the effective part of the business production so the knowledge on the technologies can foster the roadmap for the business by managing the business continuity. The proper strategic goals and encouraging the employees and maintaining the market trends can help the company namely Robust Wheels to restructure the business process by eradicating the issues. The recommendations can excel business agility and help the industry to nourish better strategic goals by managing the functionalities of the various departments of Robust Wheels.
Reference
Journals
Hernández, J.G.V. and Garcia, F.C., 2018. The link between a firm s internal characteristics and performance: GPTW & VRIO dimension analysis. Revista de Administração IMED, 8(2), pp.222-235.
Ciulla, J.B., 2020. The importance of leadership in shaping business values. In The search for ethics in leadership, business, and beyond (pp. 153-163). Springer, Cham.
Bititci, U.S., Bourne, M., Cross, J.A.F., Nudurupati, S.S. and Sang, K., 2018. Towards a theoretical foundation for performance measurement and management.
Goshu, Y.Y. and Kitaw, D., 2017. Performance measurement and its recent challenge: a literature review. International Journal of Business Performance Management, 18(4), pp.381-402.
Baird, K., 2017. The effectiveness of strategic performance measurement systems. International journal of productivity and performance management.
Bakotić, D., 2016. Relationship between job satisfaction and organisational performance. Economic research-Ekonomska istraživanja, 29(1), pp.118-130.
Smith, M. and Bititci, U.S., 2017. Interplay between performance measurement and management, employee engagement and performance. International Journal of Operations & Production Management.
Websites
centralchristian.edu (2022) Available at https://myonline.centralchristian.edu/news/2016/08/17/5-strategies-improve-organizational-effectiveness [Accessed on 18/2/2022]
opentextbooks.org.hk (2022) Available at https://www.opentextbooks.org.hk/ditatopic/17919#:~:text=Familiarity%20with%20the%20arguments%20and,while%20experience%20is%20being%20acquired. [Accessed on 18/2/2022]
med.upenn.edu (2022) Available at https://www.med.upenn.edu/hbhe4/part1-ch2.shtml [Accessed on 18/2/2022]
kgmoore.co.uk (2022) Available at https://www.kgmoore.co.uk/strategy-tools-use-the-ansoff-matrix-for-evaluating-growth-opportunities/ [Accessed on 18/2/2022]
SimVenture-uk.com, 2022. “Our approach to responsible retailing” Available at https://www.SimVenture-uk.com/corporate-social-responsibility/our-approach/ Accessed on 25.01.2022
………………………………………………………………………………………………………………………..
Know more about Unique Submission’s other writing services:
