NX0474 Strategic Management for Competitive Advantage
NX0474 Strategic Management for Competitive Advantage
Introduction
The company, Lecky Auto is a corporate car industry that works with sustainable growth over the period of time. The company has some key objectives that are conforming to the overall aims and objectives that are the sole mandate. Currently the company is running with the business objectives of increasing the sale prospects, improvement of the market shareholders and maximizing the profit margins with an accelerated pace. Most importantly, the company has resorted to the concept of value creations with more varieties of products for potential customers. All these objectives are achieved by the company using the most efficient strategies over time. In the following table, there are some indications of the performance measures of the company with respect to its economic statistics.
| Round-1 | Round-2 | Round-3 | Round-4 | |
| Total sales | £2638 million | £3538 million | £5552.30 million | £6580.40 million |
Table 1: Sales and the unsold stocks
Company performance
Part-1
Forecast
In round 1, it is found that there are two most important car models named “model-2”, and “model-6” which are launched in the potential market. The fact is that there are product variations both in terms of their model and the respective price structures (Lee and Falahat, 2019). It is found here that the respective price of the current two models is £20000 and £24000. Here, the most important factor is that the company has witnessed the growth of the market share of the business of the model-6 and this currently stands at 1.39%.
Figure 1: Production report of round-1
(Source: Based on round-1 result)
Results
Another important factor in this regard is that though the models are quite different from each other, their material costs are the same and that is £12038. Surprisingly, though the market share of the model-6 is little bit greater, its productivity rate is slightly lower than the first one. The rate of productivity of these two models is 46 and 44. In the first round, it is found that the current workforce working in the current company is 2600 and they are periodically trained for building better efficiencies and competencies (Distanont and Khongmalai, 2020). There are some important variables of the company’s performance in the thriving market and these are sales, profits and market share. These business elements are the most crucial attributes for understanding the factors like the company’s prospects of growth over time.
Differences and explanation
In the round-1, it is estimated that the company’s sales are constantly improving and there is the indication of the fact that its current sale stood at £ 2638 million and the cost of sale was £ 1967 million. Therefore, from this statistical data of the company it is found that the company has currently the gross profits of £670 million which is highly noteworthy in this regard. Another important dimension to understanding the profits and loss of the company is the analysis of the overheads used to estimate the cost incurred for the development of the products (Fuertes, et al. 2020). The round-1 shows that the company Lecky Auto has invested the bulk amount of the funds for the research and development purposes and financially it is £238 millions. The financial data has shown the fact that the company has received gross revenues of £2565 million in one respective financial year.
Round-3
Forecast
Likewise, the round-3 is equally important from a different perspective for the company and here the company has shown the significant deal of product variations and the respective market share. Here, the product variation is the most significant one and in this regard, here is the importance of market share of separated products or models (Saeidi et al. 2019). Among the respective four models of cars, the model-P4 has the highest market share and it stood at 1.49% and this followed by the P2 model whose market share is 1.42%.
Results
Here, the sale of the products are more or less satisfactory and it is £5552 million and the respective cost of sale stands at £4295 million and therefore the gross profits calculated is £1257 million. Therefore, the subsequent findings have figured out the fact that the new models are highly efficient in dealing with the market demands. Company is comparatively improving its stake in the thriving market and that is substantiated by the book value which stood at £1596 million. On the other hand the overall shareholders fund is estimated as that of £1048 million. Therefore, it can be stated here that the company has reached its objectives and over performed
Differences and explanation
The respective forecasts of company performances have shown the fact that the company has outpaced the estimated prospects. Its production procedures are highly contributing to the overall growth potential of the company in the near future. The factors of shareholders retaliations are the most important yardsticks of the measurements of the company performance. Therefore, the company after this round aims to increase production and product variations (Papadas et al. 2019). The difference is because of the fact that the company is heading towards the factors that can bring significant levels of changes in this regard.
Round-4
Forecast
In this round, there are the significant forecasts of bringing two more different types of car models. In this connection, the models-P10 is significant for the further analysis of the company performances. Here, the company’s incorporation of a new model is indicative of the fact that the company is running with efficiencies and more sustainable ways. The important aspect of it is that the new model has the market share 0.99% and the company has the productivities of 40 with the gross margin of 5.99%.
Results
In this section, the profits and loss of the company to be evaluated with respect to the prospect of sale which currently stood at £6580 million and the respective cost of sales is £5368 million. This has resulted in the higher levels of gross profits than the other rounds and it stood at £1211 million. Most importantly, in this round as a result, there are the fixed overheads of £480 million to be incurred in this case (Tien et al. 2019). The gross revenue collection has amounted to £ 6552 million and it is highly contributory to the success of the company in the long and greater levels of investment in this regard.
Differences and explanation
Like the other rounds, there are the explanations for the fact that the company will outpace the target by the higher margin and there is the chance for greater profitability over the years due to the product variations and subsequent value additions in the market. The key difference in this regard is the launch of complete new products which are very innovative in nature. The development of such a product needs a great deal of investment for the research and development purposes (Ferreira et al. 2020). This is one of the most significant aspects of changes and differences of approaches in this regard. Total shareholders’ fund is equally important to note and it stood at £ 1332 millions.
Company performance
Part-2
Company performance is one of the most important factors for the better understanding of the business aspects of a certain company. Here, in the current study, there is an extensive analysis of how the company Lecky Auto performs in the international as well as in the domestic market. There is the great prospect of the company to run in the international scale with its growing market share over time. The company performance is the key yardstick that can help the business analysts to evaluate the company’s prospects of growth and value creation propensities in the market (Arsawan et al. 2020). The current study used to focus on the sole factor of the market performance of the company with respect to the factors like yearly turnover, sale, gross profit margins, market shares and rate of productivity. In the following, there are factors like productions, sales, gross margins, market share that are going to be figured out in this section.
Productions
The study of the company performance in this regard is more based on the evidential factors that are evaluated from the company’s financial data in terms of productions. All the performance-related factors like this are to be evaluated with respect to the examinations and experimentations that have been put into force for the successful development of insights regarding this. In the study, it is found that the productions of different car models are model-2, model-6, model-P4 and the like. Among these models, the model-4 has been estimated to incur the highest cost £84000 million
Sales
In this section of the company performance of the car industry, Lecky Auto is going to be evaluated with the help of different rounds of examinations and experimentations regarding the sale prospects of the products. In each and individual round, there are the most important variables like sales that are potent to bring the required insights over the matter (Kaleka and Morgan, 2019). The first round showed the fact that the company had a sale margin of £2638 and subsequently in the round-3 and round-4, the company’s sales stood at £6580 million and £5552 million.
Gross margin
At the very first, here the round-1 is going to be evaluated with the key financial factor like gross margin that can help the readers to develop insights regarding the current economic performance of the company. The first round has shown the fact that the company has the gross margin of 24.83% and 25.76% of the model-2 and model-6. In the round-3, the gross margin of the respective models- model-P2, model-P4, model-P6, model-P8 are bearing the gross margin of 21.67%, 22.05%, 23.56%, 24.64% respectively.
Along with this the round-4 has witnessed more efficiencies and success in this regard and the data has shown the fact that the gross margin of the products has slightly been improved over time. The statistical representation of it from the round-4 data has shown that the company has current market gross margin of the products model-P2, model-P4, model-P6, model-P8 and model-10 are that of 19.70%, 19.66%, 21.55%, 22.68%, 5.99%
Post-tax profit
This is one of the most important variables of understanding the profit margin of the company after the subsequent payment of the taxes. In the separate rounds, there are different types of profit margin as per the post-tax profit estimations (Haseeb et al. 2019). The round-1 has shown the post-tax profits of £ 55.97 million. In the same ways, round-3 and round-4 have profit levels in terms of £238.08 million and £284.63 million. Therefore, it is estimated that in every case there is the growth of post-tax profits levels.
Market share
Market share is one of the key important variables for understanding the different successful measures that the car company, Lecky Auto has brought over time. In this regard, there is the analysis of the factors like the market values of the stocks of the business of the company in terms of its net value in comparison with the other similar companies in the potential market (Falahat et al. 2020). Here, in the study, there is the key analysis of the contributions of the company in terms of the market share and in the very first round it is found that the car model-2 and model-6 have the market share of 1.07% and 1.39%. On the other hand the model-P2, model-P4, model-P6, model-P8 are of round-3 has witnessed in terms of market share is that of 1.42%, 1.49%, 1.09%, 0.85%. Along with this, in the round-4, there is the drastic increase of the market share of these product models with the new model-P10 standing at 1.41%, 1.48%, 1.06%, 0.84%, and 0.99%.
Net cash position and unsold stocks
These two are the most important factors of understanding the company’s financial information and the competence of the company in handling the factors like the cash flow and the unsold attributes of the reserved stocks in this regard. The subsequent cash position of the company used to highlight the fact that the company is running in liquidity crunches and liquidity excess. Here, the importance of understanding the cash positions leads the company to invest more in the current stocks (Lee and Falahat, 2019). In the different rounds, it is estimated that the company has very meagre levels of unsold stocks which justified the fact that the company is running with the optimal efficiencies.
Learning
Financial management
This is such an effective factor that played a very significant role and holds an important role in any type of business. It is considered an effective one as it plays a severe role especially in making the decision, planning, budgeting, management of the cash flow, capital structure and so on and henceforth it mainly allows the business of Lecky Auto also to take various advantages regarding the growth opportunities of the business and at the same time many more. On the other hand, it can also be well mentioned that it also plays an effective role in the economic development of the country. Apart from this, the financial intermediates were also able to make an improvement, especially in investment efficiency which leads to a state of very higher growth in the economy. Henceforth, it can be well said that the automotive industry is very vital, especially from Europe’s perspective. Based on the view of Kembauw et al. (2020), the strategies of financial management quality are very helpful regarding the control of the business. This is because such a sector is very much fruitful as it provides direct as well as indirect jobs which are near to the 13.8 million Europeans that represent especially 6.1% of the EU’s total employment.
The key decision regarding financial management is mainly going with the fact of loan, budget, and cash flow of the business of the company and all these played a vital role in the business running. Therefore, the budget is considered an effective one as it helps in creating financial stability and a very necessary tool to the business that is for tracking expenses as well as income. On the other hand, cash flow is very much important as provides a potential lender which is with a picture of the ability of the business regarding paying back the loan. Therefore, taking a business loan is very much fruitful as it can help to boost the levels of the business aches flow which is mainly in the tough period of trading. According to Al Breiki and Nobanee, (2019), financial management played a severe role in promoting sustainable business development and practices. Moreover, cash flow financing is such an effective form also for this business in which the loan is mainly made regarding the company and is backed mainly by going through the expected cash flows of the company. Additionally, it can be well mentioned that it is important to understand the cash situation of the company which is very crucial, especially to making the right business decisions and it helps in making better plans as well as decisions that can add value to the business.
The fact of the cash flow, therefore, sheds the light on the company’s liquidity. The promotion, manufacturing, sales, research, as well as development, were totally dependent especially on the current cash flow in this business as well as on the potential market for that this company is in a good position (Wakuła, 2020). The financial performance also lays its impact on the internal stakeholders such as shareholders, the salary of the employees and at the same time also to the external stakeholders that include banks which played a significant role in giving the business loan as well as the business suppliers of this business. Therefore, the company needs to focus and seriously look at the fact of making good budget planning as it gives proper guidance to the business, managing to various unexpected challenges, identifies the estimated expenditure, anticipates the revenue and many more.
Operational performance
Nowadays, it can be well mentioned that the industry of automobiles is also considered one of the primary effective components regarding economical growth which is especially in all the industrialized countries. Henceforth, operational management is very much needed as well as a significant part of this business industry as it deals with the fact of decision-making related to the process of production, automation, its design as well as in the case of options. Apart from this, the inputs of the resources, materials, and labour are mainly for obtaining the goods and services which are very much useful; regarding the transition process and at the same time adding value to the business. According to Bag et al. (2020), the operational excellence approach is very much fruitful to enhance the performance of the supply chain. Here for an instance can be mentioned the name of the suppliers as effective external stakeholders of Lecky Auto and who also plays a very crucial role mainly regarding providing all the necessary and essential resources as well as the materials. Moreover, their support lays an effective impact also to getting success in ties business field.
The appropriate and suitable design and at the same time the manufacturing process needed to be improved as this will able to attract customers very easily and that made its products demand high into the business market and able to add more profits to ties business. As based on Round 3, the production report mainly clearly demonstrates the fact that its market share, workforce, material costs, gross margin, productivity, target production and many more of this company. As per opined by Technological evaluation, therefore, adds value and effective aspects, especially to the economical factors.
On the other hand, all the strategic objectives of this company are very much helpful in determining the fact of the mission of the industry along with sustainability which is towards the future activities that mainly lead to also creating as well as gaining competitive advantages that add value to this business (Sivarajah et al. 2020). Apart from this, in branding, the shareholder is one of the major external stakeholders as they hold the responsibility regarding ensuring the fact running as well as well managed of the company. Sometimes, the employees or the workers were also going to the overtime policies, especially while the demand for the products in the business market is high and at the same time to meet the customer’s requirements specifically in order to bring and get more and more competitive advantages, though the employees were paid for the overtime work that is able to enhance the productivity.
Marketing Performance
This is very important as it is impossible regarding working in marketing not to be more conscious and concerned regarding the marking performance of the company. This is an effective metric as well as the outcomes which are regarding the marketing departments mainly looking to the fact of how well the marketing activities were mainly going especially to meet as well as achieving the goals of the marketing plan of this company. Therefore, it is mainly the alignment which is in between the starting goals of marketing teams as well as the objectives regarding the actual results. As per views by Indriastuti, (2019), relational capabilities, as well as value-co creation are very important to enhancing marketing performance.
The key decision also includes market segmentation, which is based on the age group, and the budget regarding the promotion which is through such mediums as radio, and dealer incentives for getting better results. The very marketing strategy which it holds mainly based on segmentation that is since matching all the needs of all newly targeted customers. Besides this, it can be well mentioned that the company mainly seeks to reach to get a higher profit that is along with new customers. Henceforth, for example here can be mentioned regarding Round 4, Production Report-Team 4: Per heron, the model name is mainly P2, P4 produced the products and sold all the products that clearly demonstrate the market share of this business. On the other hand, model names 2 and 6 which mainly regard the Round 4 production Report also produced the products and all the products were also sold in the business market also clearly show the market share of the current products is therefore 1.07% and 1.39%.
According to Morgan et al. (2022), this is an effective process for understanding the outcomes of the business. The key attributes mainly the accelerating performance mainly of this company regarding the company’s products which are considered better equipment as well as sustainable. It is because the new targets of this company hold the very purchasing power that is regarding whoever can able especially to make the afford which is regarding the new products. Apart from this, an effective design is another one that lays an effective impact to draw the customers’ attention and which adds value to the marketing value of this company. Therefore, cut-edging technologies will be considered very beneficial for the growth of the business market and henceforth the implementation of these kinds of technology is able to provide various facilities also to the business market of Lecky Auto. Moreover, the technological implication is mainly able to draw the customer’s attention as well as to make them very much interested in purchasing the products of Lecky Auto. As per mentioned by Suherna (2021), customer relationship management is significant in penetrating the market capabilities as well as the market performance.
Market performance is a kind of firm that can be measured mainly by going through the market share, sales revenue, competitive advantages, profitability, loyalty as well as customer satisfaction. Moreover, the behaviour of the valuable asset is also important, especially in the marketplace. Therefore, in this matter, the internal stakeholders include the shareholders and employees as they played a severe role in the reputation regarding good branding, good reputations and at the same time also add value as it makes them interested in working with the team of this company. Apart from this, the external stakeholders such as customers, and suppliers played a crucial role in the matter of good branding which is also very much interrelated with the fact of trust that is regarding the marketing performance of this company.
HR performance
It is a very well-known fact that HR played a significant role, especially in the development, reinforcing as well as making of changes in the organisational culture. Moreover, performance management, pay, training as well as development, onboarding and recruitment, and reinforcing the business values were very much essential elements that are regarding the business culture and all these were covered by HR. The role of HR is mainly regarding enhancing the growth of the company as well as innovation regarding the design of the procedures of talent management as well as the organisational atmosphere which lays support and at the same time rewards the staff as well as the innovation (Loon et al. 2020). The key decision area includes the number of workers, salary, and training programs that affect the business of Lecky Auto.
Training is able to make the development and the growth of the employees regarding the maintenance of good industrial relations and at the same time to the high morale of the workers regarding higher productivity. The decision is very effective as the trained and skilful employees were able to make an effective role in the car production of Lecky Auto and add benefits to this business. Apart from this, while there may arise any performance issues of the employees and in this matter, HR holds the responsibilities regarding investigating the situation and at the same time creates an effective plan which is clearly defined the policies as well as procedures for work-life balance (Gigauri, 2020). This decision holds effective consequences as the policies, as well as procedures, were able to bind all the employees into one thread of the company.
Moreover, thee makes the employees behave in certain ways that are able to let this car business regarding achieving all its potential business objectives, to make them cooperative, values and cultures were clearly outlined in this matter. there were arises various issues or risks if there was the lack of the proper policies as well as procedures that can severely affect the company’s productivity and creates a lot of fuses, especially among the employees that effects this car business of Lecky Auto. Governments are also played a vital role as external stakeholders, especially regarding minimum wages as well as legal working hours. Additionally, it can be well mentioned that HR performance is very much important for the company to get a better result in the business, especially in the competitive business market.
Conclusion
The above discussion has made it clear that the company Lecky Auto has made significant progress in its strategic management and the financial workings. Different rounds and the subsequent critical evaluation on this have made it clear that the company has the crear mandate creating values for the customers. There are separated argument regarding this and that can be evaluated on the basis of the respective statistics. There is enough evidence of the fact that the company has sole focus on the product variations and the respective factors leading to the increment of the market capitalizations.
Here, in this report, there is the indication of the good performance management, better financing, significant stakeholder’s contributions and the important attributes of the current HR management systems. Although the company is running in good stead, the launch of the new products is not satisfactorily reached in the market and that leads to the lowering of the respective gross margin of the products.
Team performance
Team performance is considered the key factor o the succession of all kinds of individual organizations which is regarding working in the domestic as well as international fields. There exist lots of variables mainly to understand certain companies’ parameters of the key performance. Therefore, it can be well mentioned that in order to make teamwork to successful state, there needs to make effective collaboration as well as communication. A better collaboration helps in improving the way actually the team, performs together and at the same time problem-solves. Moreover, this will also leads to a state of more innovation, increase the success of the organisation, efficient processes as well as improve communication that is very much facilitated to the organisation to meet the potential objectives through teamwork and gets many more opportunities to the business market (Bansal et al. 2019). Moreover, proper listening and learning, if all the team members help in reaching the goals and therefore collaboration, is needed to get the succession. Moreover, this is not only for good regarding the team productivity but at the same time able to boost the morale which is throughout the organisation. Therefore, without trust as well as proper collaboration, the teams will not be working properly and then the innovation was also simply not happened and not fruitful.
Moreover, collaboration is able to encourage problem-solving, making the employee’s productivity rates very goes up, team collaboration is mainly increasing mainly the organisational potentiality regarding the changes, overall the problem-solving becomes easier and mostly it gives the employees the scope to learn from each other will very much helpful for getting the succession. Therefore, collaborative communication is able to create efficient as well as very flexible working environments. Henceforth, it can be well mentioned that communication and collaboration are interrelated each other and effective, especially for teamwork and meeting the goals as well as the mission of the organisation (Ferraresi and Gucciardi, 2020). One of the biggest advantages which contribute to business succession is that all the employees performed well together in the team. The teamwork actually helps in increasing its efficiency and at the same time also possibilities which are regarding better performances that provide a higher outcome. Therefore, the focus should be going onto the factors of developing or improving mainly making collaborative communication in future as it is able to add effective value to the organisational business.
The role of leaders especially in the team world holds the potential and holds various responsibilities regarding tee teamwork and at the same time getting the business succession. Therefore, in order to perform the role of a leader there also needs to understand the cultures of the company and at the same time need to make effective collaboration and communication to meet the strategic objective of the organisation. I have learned a couple of things in this concern and that has enriched my mind and personality in greater dimensions. In this regard, there is the need for the evaluation of the understanding of the culture in the work spheres in the organizational ecosystems. I have figured out the fact that different cultural attributes used to influence the working environment to a great extent. In this regard, there is the need for the inclusive nature of the company culture that would promote inclusion and diversity.
I have learned the fact that the companies being a global entity have the potential to run with maximizations of the profit with is inclusive nature. In this regard, I found that with these factors the company can get significant amount of talents for the upscale of the products qualities and the respective variations. I have figured out the fact that the skills of the co-workers are highly important for the personal growth of the individuals. The fact that I have realized here is that the improvement of the collaborative nature in the business ecosystems is contributory on several grounds and it can lead to better productivity as well as sustainability. Leadership is also an important factor in the successful running of the business as an effective leader can lead a group of people to some organized goals. I have therefore developed an all pervasive attitude as well as insights regarding the business and its overall functionalities.
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