Great MGT604 MGMT6011 Strategic Management Sample

Great MGT604 MGMT6011 Strategic Management Sample

1.     Introduction

Strategic planning and ideas assist a company to understand its market share and its progress in the market. An improper strategic planning and decision making will affect the overall performance of any business even if the company holds a strong position.

It is difficult to maintain a strong market position under critical circumstances and under such conditions stakeholders [plays a vital role. Stakeholders manage to decide upon the important decisions and changes that need to be taken under in order to maintain the company’ position.

Similarly, in this report an analysis of Strategic management of stakeholders for the Pro Go Pty Ltd will be decided upon with the clear analysis of the current scenario of the company.

2.     Company Background and Scenario

Pro Go Pty. Ltd. have maintained its position in the market with its huge market share of the manufactured camera that have creative features. The company has been able to develop a strong performance on its distribution process to other countries with the different parts that are only manufactured under it.

However, on a recent analysis by the companies position it has been seen that the camera of the company has been bursting into flames and this has been located with no such definite reasons.

The technology department of the company looked for any such issues that resulted in such consequences but failed to find anything. However, the management and operation process of the camera was not at all changed and modified and such a downfall in the market was not expected. This has been a major concern of the CEO to find out the issue that has created cut circumstances in the company (Saravana Muthu, 2018).http://Great MGT604 MGMT6011 Strategic Management Sample

The CEO also informed that the company’s strongest customer from China , Zedong Lee Spot Store Chain, has cancelled their contract with the company and the reasons have not yet been located.

Thus, a thorough analysis of the condition is required with dependent stakeholders meetings and decisions that will assist the company to gain back its position and save the liquidation threat.

3.     Aims and Objectives

The main aim is to analyze and evaluate the issues that have resulted in such circumstances and to decide upon the measures that will save the company from the liquidation threat.

  • Objectives:

  • To understand the issues that made the camera’s in the market burn in flames.
  • To locate the issue the company faced in its contract with the Zedong Lee Spot Store Chain.
  • To analyze the current challenges the company is facing in its strategies and operations management.
  • To evaluate different decisions that will save the company from the liquidation threat.

4.     Analysis     

In order to understand the challenges Pro Go has been facing in its market share and in its relationship with customers needs an understanding of both internal and external analysis. In order to locate the different reasons that may have influenced the downfall of market share it is important to understand the macro economic factors (Roberts et al. 2018).http://Great MGT604 MGMT6011 Strategic Management Sample

A PESTLE analysis will assist in gaining an advantage for such circumstances.

  • PESTLE Analysis
Political ●      A change in the political rules and policies may affect the companies market position (Nickols, 2016).http://Great MGT604 MGMT6011 Strategic Management Sample

●      Political parties can implement certain guidelines on employment Law that can change the overall operations of several companies.

Economic ●      A change in interest rate and wage rate may highly affect Pro Go in its manufacturing process.

●      Inflation rate may also affect the company’s operations extensively.

Social ●      A change in the buying habits of the customer also affects the market and this can be a major reason for the downfall in camera sales.

●      The market may also face economic inequalities that lead a customer to buy a product and cancel contracts.

Technological ●      The competition in the market of China has been developing its market share by adding innovative ideas in its manufacturing process.

●      A change in the idea and design by the rivals can result in the shift of the customers from one company to another (Mulder et al. 2017).http://Great MGT604 MGMT6011 Strategic Management Sample

Legal ●      A change in the law and rules of Import and export may disrupt the overall company performance and relationship with potential customers.

●      The copyright law cannot affect Pro Go as it has all its production under its own manufacturing sectors.

Environmental ●      Environmental law and policies affect a business enterprise in precited its operations and manufacturing process.

Table 1: PESTLE Analysis

(Source: Li, Thomas Ng & Skit more, 2016)

An analysis on the company’s internal operations and the challenge the company has been facing in its previous years needs to be amused thoroughly (Alonso‐Almeida & Bremmer, 2014).http://Great MGT604 MGMT6011 Strategic Management Sample

This will assist the company to manage its operations in a way that will improve the performance in future. The different marketing strategies as well as its manufacturing process and measures needs to be undertaken in the analysis process.Great MGT604 MGMT6011 Strategic Management Sample

Figure 1: PESTLE Analysis

(Source: Nickols, 2016)

  • SWOT Analysis

Strength– Pro Go has a high level of valued customers that are in long term contracts with the company. The company has a massive manufacturing process of high quality and innovative cameras that has gained huge market response from different countries (Arends, 2017).http://Great MGT604 MGMT6011 Strategic Management Sample

The parts and different equipment of the camera are made under its own production and its products are not found in any other manufacturing companies.

Weakness- Too much dependency has been created by the company on the valued and long term customers. The company has also no plans to meet any severe consequences of market downfall in future and needs an implementation plan (Le Pira et al. 2017).http://Great MGT604 MGMT6011 Strategic Management Sample

Pro Go has not yet been able to locate the reason behind its cameras being burnt in flames and needs a thorough look out. The company has not been able to set a strong customer relationship with Zedong Lee Spot Store chain of China and has lost potential. Customer that took 70% of its production.

Opportunity– Pro Go can look for a good amount of potential customer stat are ready to sign long term contracts with the company. The innovation and technology can be added by the technology department to enhance the overall capability of the company’s production process and facilities (Lejeune’s et al. 2018).http://Great MGT604 MGMT6011 Strategic Management Sample

It can also add the video options to its cameras that will enhance the level of target customers and will also attract new customers towards the company.

Threats- Due to the cancellation of the contract from its potential customer of Chana Pro Go can experience a major business disbalance in its position. The company is also subjected to liquidity threat.Great MGT604 MGMT6011 Strategic Management Sample 1

Figure 2: SWOT Analysis

(Source: Created by Researcher)

5.     Strategic Planning

 Pro Go needs a high and standard strategic plan for the management process of all the factors that impacts the company directly or indirectly (Johnson-Cramer et al. 2017).http://Great MGT604 MGMT6011 Strategic Management Sample

There are several changes that need to be considered in order to manage any such circumstances in future and also develop the current position of the company.

Product Price

Pro Go needs to implement ideas and measures to manage the pricing strategy of the products provided. The prices of the product may allow the company to enter the market and penetrate in it more easily.

It is also important to change the price according to the market analysis of competitors and expectation of customers. This will add to the company’s valued customers’ interest towards the company (Herold et al. 2019).http://Great MGT604 MGMT6011 Strategic Management Sample

It will also develop less dependency on single customers and open up possibilities for the company for a huge number of long term contracts with several other customers.

Marketing Plans

Pro Go needs to enhance its capability in marketing strategies and also implement innovative ideas for its promotion purpose (Beg et al. 2018).http://Great MGT604 MGMT6011 Strategic Management Sample

The company requires a string platform of social media to draw attention of customers that are highly interested in photography and videography. It is also important to practice Ceram campaigns in new market sectors to gain new customers.

Innovation and Technological Advancements

Pro Go has a sound position in its quality of products and the manufacturing strength it has been posseting. However, technological advancement will allow the company to meet any uncertainties and will also escalate the work performance (Fessing, De Colle & Freeman, 2017).http://Great MGT604 MGMT6011 Strategic Management Sample

The different parts of the camera that is produced can be improvised and modified with the advanced technology ideas in order to meet competition. The company needs to provide its potential customers with innovative products in a quick interval in order to hold the contract steadily.

New Product or Service

A new product or service by the company will also help the company to  enhance the company’s development process. It needs to implement a product plan or service idea that will assist in gaining customers back and regain the company’s position. This will help the company to gain a position in the market and save it from liquidation threat (Irfan & Roe, 2020).http://Great MGT604 MGMT6011 Strategic Management Sample

Videography has been a growing popularity in recent years and Pro Go can use this service to enter in the market with new ideas and initiatives.

Stakeholders

Company stakeholders such as investors, employees and its suppliers and vendors form a highly valuable position under such conditions. Pro Go needs strong support from kts investors to assist in the decision making of new market initiatives and production facilities that will be added.

A proper amount of investment will help the company to carry out its marketing and innovation with technological advancements easily (Del Mar Alonso‐Almeida et al. 2017).http://Great MGT604 MGMT6011 Strategic Management Sample

Suppliers and Vendors support will also be necessary to manage the distribution as well as the pricing strategy of different products. Employees and laborer’s of the company are highly dependent upon for the performance and continuous support in order to manage its operations (Bouton, Govindan & Rodriguez, 2018).http://Great MGT604 MGMT6011 Strategic Management Sample

Customers of the company can be helpful immensely by maintaining a continuous contract and positive relationship with the company. The stakeholder meeting including the potential customers, suppliers and distributors, employees as well as high officials have managed to provide some specific recommendations on the basis of their analysis of the current situation.Great MGT604 MGMT6011 Strategic Management Sample 2

Figure 3: Stakeholders

(Source: Churchman et al. 2017)

6.     Recommendations

The company current scenario and analysis shows that Pro Go needs a strong and organized strategic plan for its production process as well as its customer contracts measures. The company needs a strong support of its stakeholders to manage the organization decision and also implement new ideas and strategies.

Pro Go needs to build its relationship with other potential customers and implement strong rules and standards for its agreement. It also needs to build a good chain of customers and try to communicate to its existing customers with new ideas and strategies that the company has been planning.

Depending on a single customer can be highly risky as any dispute may disturb the company’s position immensely. Pro Go also needs to implement strategies to enhance the production process of the camera and implement innovation and technology in its production process.

The company also needs to revise its sales agreements under its contract with customers to eradicate any such measures that may indirectly or later affect the company.

7.     Conclusion

It can be concluded that the stakeholder decisions and management plans will improve the overall state of the company. A strong relationship with its potential customers will help the company to enhance its market performance and grow gradually.

Managing customers as well operations of the company is required to be accessed by the company through market analysis of different factors that impact the company’s operations.

 

 

References

Alonso‐Almeida, M. D. M., & Bremser, K. (2014). Strategic management decisions in power positions to achieve business excellence in small service businesses: does gender matter?. European Accounting and Management Review1(1).

Arend, R. J., Zhao, Y. L., Song, M., & Im, S. (2017). Strategic planning as a complex and enabling managerial tool. Strategic Management Journal38(8), 1741-1752.

Begg, C., Callsen, I., Kuhlicke, C., & Kelman, I. (2018). The role of local stakeholder participation in flood defence decisions in the United Kingdom and Germany. Journal of Flood Risk Management11(2), 180-190.

Bouzon, M., Govindan, K., & Rodriguez, C. M. T. (2018). Evaluating barriers for reverse logistics implementation under a multiple stakeholders’ perspective analysis using grey decision making approach. Resources, conservation and recycling128, 315-335.

Chatrchyan, A. M., Erlebacher, R. C., Chaopricha, N. T., Chan, J., Tobin, D., & Allred, S. B. (2017). United States agricultural stakeholder views and decisions on climate change. Wiley Interdisciplinary Reviews: Climate Change8(5), e469.

del Mar Alonso‐Almeida, M., Buil‐Fabregà, M., Bagur‐Femenías, L., & Aznar‐Alarcón, J. P. (2017). Shedding light on sustainable development and stakeholder engagement: The role of individual dynamic capabilities. Sustainable Development25(6), 625-638.

Erfani, G., & Roe, M. (2020). Institutional stakeholder participation in urban redevelopment in Tehran: An evaluation of decisions and actions. Land Use Policy91, 104367.

Fassin, Y., De Colle, S., & Freeman, R. E. (2017). Intra‐stakeholder alliances in plant‐closing decisions: A stakeholder theory approach. Business Ethics: A European Review26(2), 97-111.

Herold, D. M., Farr‐Wharton, B., Lee, K. H., & Groschopf, W. (2019). The interaction between institutional and stakeholder pressures: Advancing a framework for categorising carbon disclosure strategies. Business Strategy & Development2(2), 77-90.

Johnson-Cramer, M. E., Berman, S. L., & Post, J. E. (2017). Re-examining the concept of ‘stakeholder management’. In Unfolding Stakeholder Thinking 2 (pp. 145-161). Routledge.

LaJeunesse, S., Marshall, S., Heiny, S., Nauman, R., Evenson, K., Cooper, J., & Doggett, S. (2018). Structures of Stakeholder Relationships in Making Road Safety Decisions. Injury5(1), 1-6.

Le Pira, M., Inturri, G., Ignaccolo, M., Pluchino, A., & Rapisarda, A. (2017). Finding shared decisions in stakeholder networks: an agent-based approach. Physica A: Statistical Mechanics and its Applications466, 277-287.

Li, T. H., Thomas Ng, S., & Skitmore, M. (2016). Modeling multi-stakeholder multi-objective decisions during public participation in major infrastructure and construction projects: A decision rule approach. Journal of Construction Engineering and Management142(3), 04015087.

Mulder, K. J., Lickiss, M., Harvey, N., Black, A., Charlton-Perez, A., Dacre, H., & McCloy, R. (2017). Visualizing volcanic ash forecasts: scientist and stakeholder decisions using different graphical representations and conflicting forecasts. Weather, Climate, and Society9(3), 333-348.

Nickols, F. (2016). Strategy, strategic management, strategic planning and strategic thinking. Management Journal1(1), 4-7.

Roberts, M. J., Vidale, P. L., Senior, C., Hewitt, H. T., Bates, C., Berthou, S., … & Griffies, S. M. (2018). The benefits of global high resolution for climate simulation: process understanding and the enabling of stakeholder decisions at the regional scale. Bulletin of the American Meteorological Society99(11), 2341-2359.

Saravanamuthu, K. (2018). How risk information and stakeholder‐participation affect the sustainability of collaborative decisions: A case study on how the sustainability of stakeholder decisions is affected by different levels of stakeholder participation in preparing risk information. Business Strategy and the Environment27(7), 1067-1078.

Appendices

Appendix 1: Macro Environment Analysis

Political ●      A change in the political rules and policies may affect the companies market position (Nickols, 2016).http://Great MGT604 MGMT6011 Strategic Management Sample

●      Political parties can implement certain guidelines on employment Law that can change the overall operations of several companies.

Economic ●      A change in interest rate and wage rate may highly affect Pro Go in its manufacturing process.

●      Inflation rate may also affect the company’s operations extensively.

Social ●      A change in the buying habits of the customer also affects the market and this can be a major reason for the downfall in camera sales.

●      The market may also face economic inequalities that lead a customer to buy a product and cancel contracts.

Technological ●      The competition in the market of China has been developing its market share by adding innovative ideas in its manufacturing process.

●      A change in the idea and design by the rivals can result in the shift of the customers from one company to another (Mulder et al. 2017).http://Great MGT604 MGMT6011 Strategic Management Sample

Legal ●      A change in the law and rules of Import and export may disrupt the overall company performance and relationship with potential customers.

●      The copyright law cannot affect Pro Go as it has all its production under its own manufacturing sectors.

Environmental ●      Environmental law and policies affect a business enterprise in precited its operations and manufacturing process.

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