Consultancy Assignment sample
Transcription of Employer video case study – AC Lloyd Asset Management Director
Royal Leamington Spa, Warwickshire-based property investment and development enterprise, A. C. LLOYD (ASSET MANAGEMENT) LTD. A wide range of commercial development projects has been done by the company over the past 50 years in the region, including the design and building of offices and warehouses; retail units; and auto showrooms. Major design and construction projects may be handled by the organization, which provides extremely effective turnkey operations (Albury et al., 2018). There are numerous local and regional firms with whom they have built excellent connections throughout time. They have worked hard to preserve and strengthen this reputation by developing high-quality, cost-effective structures. As a result, they have a vested interest in making sure that the buildings they create are of the highest quality and can withstand the test of time.
Figure 1- AC Lloyd Asset Management
Source- (Ballesteros-Pérez et al., 2018)
- A) The internal environment of the company
- As a result of its dedicated Customer Relationship Management department, the company has been able to develop considerable brand equity among potential consumers.
- As a result, the organization can overcome any supply chain bottlenecks because of its solid network of trusted suppliers.
- Financial Strength: Lloyds is well-positioned to take on new initiatives because of its substantial free cash flows (Beitelmal et al., 2017).
- The firm has to raise more money to invest in the channel since its day’s inventory is higher than its competitors. This might have a long-term influence on Lloyds’ growth.
- Many people fail to manage their funds properly. The company’s financial accounts show that it can make better use of its available funds.
- To expand into new product lines, the company’s current organizational structure is incompatible with its current business strategy.
Figure 2- SWOT Analysis
Source – (Collins et al., 2019)
- Lloyds may be able to tap into new markets if new consumer trends emerge. As a result, the company will be able to generate new sources of revenue and diversify its product line.
- New customers sourced from the web the online platform has seen a lot of investment in the last several years. As a result of this investment, Lloyds now has entered a new market. In the next years, the company may be able to take advantage of this potential by using big data analytics to better understand and address the needs of its consumers (Dyani, 2020).
- Clients are spending more money, which means that Lloyds has an opportunity to gain new customers and expand its market share following years of poor growth in the business.
- International trade might be harmed if other governments follow the lead of the United States’ economic isolationism and take comparable measures.
- Any unanticipated event during peak season might have a big impact on the company’s profitability since high-profit goods have a seasonal pattern of demand.
- The present supply chain paradigm may be threatened by a shift in client purchasing patterns from the internet channel.
B)The external environment of the company
AC Lloyd Asset Management’s long-term profitability in a particular nation or market can be significantly impacted by political issues. Dozens of nations in which AC Lloyd Asset Management conducts business subject the company to a wide range of political and political system risks (Esmaili and El-Diraby, 2017). It is necessary to diversify the political risks to succeed in a dynamic business like Diversified Financials.
Aggregate demand and investment in a nation are affected by macroeconomic factors such as inflation, savings rates, interest rates, the foreign exchange rate, and the economic cycle. Microenvironmental factors, such as competition standards, have an impact on the firm’s competitive advantage. AC Lloyd Asset Management may use economic statistics such as the growth rate, inflation, and consumer spending to predict the growth trajectory of both the firm and the sector it services, such as the Diversified Financials industry.
An organization’s culture is influenced by the culture of the society in which it operates. This information is critical in determining AC Lloyd Asset Management’s approach to marketing to clients in the Diversified Financials business, as well as their understanding of those customers.
Figure 3- PESTEL Analysis
Source- (Fhadillah and Yudianto, 2018)
Technology is rapidly affecting a wide range of sectors. A notable example of this is the transportation business. Even established players haven’t had time to adapt to the industry’s rapid transformation in the previous five years.
The profitability of an organization might be affected by the rules or environmental standards in different marketplaces. Even within the United States, environmental and liability laws can vary greatly from state to state. Texas and Florida, for example, have varied liability provisions for accidents or environmental disasters in the United States. There are tax incentives for renewable energy enterprises in several European nations as well (Shayesteh, 2021).
Many countries’ legal structures and systems do not effectively protect the intellectual property rights of organizations. Companies must analyze the risk of their secret sauce and competitive edge being stolen before entering these areas.
- a) Leadership and communication
There are numerous complexities involved in the communication itself, particularly from the perspective of leadership, despite the need of viewing it as a two-way street. Corporate jargon has long used the phrase “leadership communication” to describe a variety of communication strategies. If the word “bottom line” seems oversimplified, it refers to an organization’s bottom line. Messages on a company’s culture and basic principles form the bulk of leadership communication. Customers, workers, strategic partners, shareholders, and the media all have an interest in these signals.
- b) The company culture including its ethical and value-based
Organizational culture can only be effectively managed if the values and ethical principles that shape it are mapped (Weintrob et al., 2018). As a result, tactics for sustaining, strengthening, and altering the culture of a company must focus on the organization’s values. Understanding values and their link to other aspects of an individual’s psychological system, such as beliefs, objectives, attitudes, ethics, and conduct, offers us a framework for assessing their dynamics in corporate culture. Decision-making is influenced by the organization’s values, which shape the perception of events and issues and the entire decision-making process.
- c) The company’s position in the sector
Investments in stocks, bonds, real estate, master limited partnerships, and other financial instruments are made possible by the services of an asset management business. Besides managing hedge funds and pension plans, asset management companies (AMCs) can develop pooling structures such as mutual funds and index funds, which they may manage in a single central portfolio for smaller investors.
- d) A critical evaluation of the strengths and limitations of the tools and techniques you have used
- An organization might have both strengths and disadvantages at the same time. SWOT analysis has several problems, one of which is this: As an example, a company may be able to compete on an equal basis with its competitors or even gain an advantage over them if environmental regulations are changed.
- For SWOT to be useful, it must not be seen as an aim in itself.
- For now, the matrix serves as a beginning point in the debate on how to execute the various strategies offered (Wang et al., 2021). Based on Lloyds’ strategic competitiveness, it gave an evaluation window but no implementation strategy.
- In SWOT, only a limited amount of changes may be expected. There may not be a single matrix that shows the dynamics of a competitive environment.
- From the SWOT analysis, it is possible to overestimate the importance of a single internal or external factor in the formulation of plans. SWOT does not take into account the connections between the key internal and external components, which may be important for developing a strategy.
- e) The client needs
Directly to rich customers or through third parties known as “investment consultants,” high-net-worth services are typically offered by an investment management firm’s relationship management sales personnel. The first way is rather simple. Individuals with money are actively targeted by an investment manager’s sales staff, known as PCS. Firms’ internal sales forces do not directly target wealthy clients, but rather target representatives, known as “investment consultants,” of wealthy clients in the second strategy.
For the most cost-effective decisions, you must examine the overall cost of assets in the organization, from the time they are purchased through the time they are used, repaired, and sold.
When asset management strengths are utilized and shortcomings are identified, the process becomes more efficient and effective (Van Wyk et al., 2019). Vehicle and equipment expenses, maintenance costs, labor and parts, fuel operators and drivers, and other expenditures can help you better comprehend everything from the procurement of vehicles and equipment to their eventual disposal.
- As part of their mission to produce high-quality homes and commercial properties, they wanted to assist the company to expand and provide a better working environment for the employees and guests.AC Lloyd now has a distinct identity as a result of the entire process, and all aspects of the business have improved.
- Building homes for communities in the center of their neighborhoods, and high-quality commercial spaces that are easy to navigate, has strengthened their dedication to these goals (Turner, 2019). It was a great way to get everyone on board and ensure that the project had a clear direction.
- All of their business needs were met and exceeded by RBL, a local company we wanted to partner with. Several visitors to company offices have already complimented us on their website, which has also been warmly welcomed by both new and returning users. The result is fantastic, and they couldn’t be happier.
Recommendations to the leadership and communications strategy of the company, taking account of internal and external stakeholders
- Top-down, command-and-and-control management should be abandoned in favor of one that encourages cross-departmental cooperation. To overcome various internal communication issues, great leaders can put in place leadership communication techniques. While content is at the center of what communicators do, employees are increasingly ignoring the substance of internal communications. This is why executives need to understand how to create an effective content strategy and management (Tribble et al., 2017).
- Content that is tailored and relevant has become an essential part of every business. As a result, businesses are turning to emerge technologies that can help them improve employee engagement by sifting through appropriate material. When it comes to creating individualized news feeds for employees, executives are looking for technological solutions that allow them to do so. Those with a personal or professional stake in an issue are known as “stakeholders.”Stakeholders in an organization are those who are directly connected to it, such as by employment, ownership, or investment in the company’s products or services.
- There is that outside of the company that has a stake in what the company does and how it does it. External stakeholders include suppliers, creditors, and the public sector.’People that have a lot of influence on you and a lot of interest in what you’re doing are your most important stakeholders Senior executives, large customers, and important suppliers are expected to be among the attendees at this event (Schouten et al., 2018). Every day, they’ll require regular attention with careful and well-considered messaging. Keep a watch on stakeholders with minimal interest and power and only contact them when required. The remaining two sectors of stakeholders must be kept informed. They must receive enough information to keep them happy and well-informed.
- People who succeed as leaders are those who have an excellent track record as followers. They are aware of the fact that they are held to account by those in power. When it comes to their profession, they understand that they cannot act as lone wolves, but must instead keep their priorities aligned with the organization’s aim and maintain a healthy feeling of self-importance to succeed. Anyone who occupies a leadership position must be a true team player. The leader must have a clear understanding of the group’s goals and objectives. One who is a good leader can commit to using his or her leadership abilities, technical abilities, and situational awareness to assist the team to achieve its goals (Phindela, 2017).
Personality, vision, inspiration, and personal attention to the audience are all essential characteristics of a strong leader. This helps acquire the support of people who will then devote themselves fully to achieving the goals of the organization. When a current system isn’t performing as well as it should, this method can be really helpful. If the leadership of an organization is not well-versed in its surroundings, this approach will not operate. They live in an information age when leaders can’t convince people if they don’t know what’s going on around them. As a second aspect, the leader must be aware of the context in which he or she is operating and behave appropriately since activities that are appropriate in one context may not be the best match in another. Thirdly, facts alone are not enough to persuade people to change their opinions, but leaders must have excellent communication skills to get their message through (Lloyd et al., 2017).
Finally, it’s crucial to remember that nothing can be accomplished without the help of the individuals who follow you. To gain the trust and admiration of others, one must demonstrate care and sympathy for them, and work together on a personal level. As a result, most individuals are reluctant to change their ways. A successful endeavor requires individuals who are willing to embrace change, and this can only be achieved if the person in charge of that change (i.e. leadership) has a heart that cares about their problems. Otherwise, radical change will be met with fierce opposition and fall short of its intended aim.
Communicating the vision to the key stakeholders
- Make sure everyone in the company is aware of the vision and the goals that will bring it to fruition. If you want the employees to be more productive, don’t allow their vision to become a document that sits in a drawer. Include it in all business-critical messages and both internal and external papers instead.
- All employees, governors, and students will be more enthusiastic about their goals if they convey them positively and enthusiastically. Take internal procedures to guarantee that the company’s purpose, vision, and values are communicated consistently.
- Get input from all of their important stakeholders so that you can go forward with their vision. The vision should be shown to have a beneficial influence on everyone’s workday (Litherland et al., 2021). When we can clearly understand how our work contributes to the organization’s long-term goals, we become more invested in our work.
- To ensure that all stakeholders are aware of the company vision, purpose, and values, use as many communication channels as feasible. These include present and future employees, board members, and students as well as members of the community. Internal newsletters, external magazines, prospectus, website, induction and recruiting packets as well as press releases and social media should all be used as part of marketing strategies to ensure that these messages are regularly delivered and reinforced to them.
- Keep reiterating company vision, goal, and values by reiterating key success stories. Doing this internally and publicly is equally critical to ensure that everyone is well-versed in the stories that matter most.
Leadership strategy and the impact on organizational direction
- Every organization has a set of goals in mind when it is founded. What an organization’s policies represent can range from profit-making to charitable to law-enforcing, depending on what the organization’s goals are (Koziel et al., 2018). The direction of an organization is determined by leadership, and management ensures that policies are put in place that leads to the achievement of those goals. It is possible to use multiple management theories to support the goals of an organization’s management style.
- Instead of depending on transformational theory’s concept of motivation, it introduces the ideas of incentive and punishment. That form of relationship develops between the leader and follower in which they are doing exactly what the leader tells them to do. If an employee completes a task on time, within budget, and according to the instructions of their management, they will be rewarded. If the employee fails to meet his or her responsibilities, he or she will be disciplined. This form of interaction is severe and demonstrates a reactive management style.
- This idea focuses on the power of the management who determines the short-term incentives and penalties. By explicitly defining and allocating activities that are aligned with the organization’s goals, the manager may ensure that it is being used to its full potential (Kijak, 2020). As a manager, someone must have the authority and control to reward or penalize subordinates, and you must constantly monitor their conduct. Workers, according to the notion, are motivated solely by monetary incentives, although they may also be motivated by other factors such as recognition or advancement.
This part of the study was evaluated using the Gibbs reflective model.
Figure 4- Gibbs reflective Model
Source- (KATUMBA, 2020)
I thought I was a pretty self-aware person. As a self-aware person, I was certain that I had a clear image of my capabilities and viewed myself as an analytical, rational, emotionally mature person who excelled in communication and presenting skills. I never believed myself to be creative, in part because I had a hard time identifying my inadequacies. However, one additional flaw that kept coming to me was the inability to organize my time well (Jordan and Maharaj, 2020). Equality, justice, and meritocracy are ideals that I hold dear, and they are not negotiable for me.
My ideal job would be a market researcher specializing in qualitative research. Despite this, I began a career in a completely new field owing to circumstances. At first, the opportunities were great, but my professional and life objectives were in conflict with my role, and therefore what previously seemed like a career eventually morphed into a job. It didn’t seem like a viable alternative to combine personal aspirations with one’s work.
The appropriateness of each leadership style is influenced by a variety of circumstances. Depending on the circumstances, the type of leadership that is used may vary. Some crises necessitate the use of experienced leaders who are more likely to be autocratic to make better and speedier decisions (Grundy et al., 2019). Democratic leadership is more frequent among project teams and professionals, but autocratic leadership is more typical in situations when there is a large divide in the knowledge, abilities, and experience of superiors and subordinates. Leadership styles are heavily impacted by a company’s industry and organizational culture, such as in the military where an authoritarian approach is commonplace because of their unique natures.
Being creative and imaginative are among my personal qualities, as is having an open mind. It is because of these three components that I am more efficient and successful than my colleagues as well as those in my general surroundings. One of the most effective ways to adjust to changing conditions is by being receptive to new thoughts and ideas. In an ever-evolving environment, the capacity to quickly adapt is a need for success. My ability to advance professionally depends on my ability to innovate and be creative. When it comes to being innovative, my education and talents shine through since it is knowledge-intensive quality. Creativity and Innovation have given me an edge over my competitors and the ability to lead the pack.
There are several advantages to having high-quality materials at your disposal. Although my resources are limited, I feel that high-quality resources are more significant than the number of my resources. Personal resources such as my education and work experience are of paramount importance to me. In a competitive industry, resources are a valuable asset.
Attending lectures and seminars regularly, as well as keeping up with the needed reading, are two of the things I want to continue doing to preserve my academic achievement. For the most part, the reasons for deeming these factors vital are self-evident: To get the most out of my education, I need to attend lectures and seminars and make sure that I am well-prepared so that I can understand lectures and participate actively in seminars and tutorials. In addition, research has shown that attendance and achievement in assignments and tests are linked.
When it comes to an organization’s long-term success, management and leadership style play an important role. The company’s long- and short-term plans are influenced by these types. When it comes to management and leadership, several theories were developed. Some believe that the charismatic personality of the leader is the most important factor in success, while others believe that teamwork is the most effective way to succeed. How these ideas may influence an organization’s operations and play a significant role in the attainment of organizational goals is shown in this article Success may be achieved if it is used by the demands of the business
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