Business Model and Strategic Plan Part II: SWOTT Analysis Paper (PROF. METILDAH Only)
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BUSINESS MODEL AND STRATEGIC PLAN 8
Business Model and Strategic Plan Part 1
Mara Castro Arias
University of Phoenix
BUS/475
Prof. José Figueroa Rodríguez
June 23, 2015
Table of Contents
Executive summary ………………………………………………………….3
Introduction ………………………………………………………………… 3
Business Model and Strategic Plan Part I: ………………………………….3-5
Existing Business or New Business Division; Vision,
Mission and Value Proposition
Business Model and Strategic Plan Part II: SWOT Analysis….…………..6
Business Model and Strategic Plan Part III…………………………….…….7
Assumptions, Risk, and Change Management Plan;
Summary of Strategic Objectives; Balanced Score Card and its
Impact on stakeholders; the Communication Plan
Conclusion……………………………………………………………………..7
Reference page………………………………………………………….…….8
Executive Summary
Samsung intends to open a new division, and it will specialize in the manufacture of mobile phones known as Samsung S6. The new unit will set its mission, vision and values that aim at giving it direction. The products are intended to surprise customers by exceeding their normal expectation of the products. The division plans to increase its competitive advantage by adding value to products and differentiating them to fit the requirements of customers. Further, the company plans to formulate principles and values that will guide its operations in terms of culture, social responsibility as well the ethics.
Introduction
Samsung intends to create a new product in the market. The new product is a mobile phone to be named as Samsung S6. The mobile phone produced is to bring plenty of customers and profit to the company since it is unique, and its quality is dissimilar. The product also has very exceptional characteristics that will be admirable by consumers. The mission is: To offer matchless and competitive mobile phones globally. The vision being: “To be the top communication provider in the world at any time the values: we value honesty, customer satisfaction, and hard work. It is important for the division to be very innovative to meet the customers changing needs and expectations and thereby gaining the trust of clients.
Business Model and Strategic Plan Part I:
Customer needs are addressed by first conducting market research on what customer’s desire. Those desires are put into action by producing the goods and beyond customer expectations. Differentiation of products to suit the needs of clients is the key strategy that puts the company forward. The company delivers Samsung S6 to customers wherever they are thereby saving them time and money. Additionally, the mobile phones are sold in the social media platforms and delivered at customer’s convenient time. The mobile phones are sold at affordable prices hence saving customers money.
Competitive advantage is achieved by the fair prices of the products for the company. The reasonably priced products that have unique features, designs, and high quality attract a lot of customers. Differentiation of the present goods to meet the needs of different people is also an important strategy for the company. A value chain is another approach used by the division. Value chain involves adding value to the goods and services that a firm produces. The division specializes in pleasing their customers with products that would surprise them. The products would be considered highly valuable by clients, and they are mostly cheaper than competitors would sell them. The ability of the division to fill a gap in the market is the greatest achievement that boosts the competitive advantage. By the gap being filled, always have the confidence with the company that it will solve their problems as well as needs (Hill, 2010). .
The vision: “To be the top communication provider in the world at any time: to create products that surprise customers now and in future”. The company's business model is mainly how the company intends to make money. The new division of Samsung S6 plans to sell these phones to people who have a need for better mobile phones. The company will start by investing highly in advertising that will attract customers. The division will also utilize social media sites to advertise and sell its products (Viardot, 2013).
Samsung's mission aims to encourage the world, produce for the future while the mission is meant to demonstrate beyond thoughts. The new division mission explains of how it intends to be the best in what it does by producing unique products and, therefore, stick to the slogan of the whole company. The new vision points of how the company intends to be a leader in communications and mobile phones provider. Presently and the future, the company has an intention of excellence at all time. The values motivate the company and give it direction to where it intends to reach in the future. The new divisions value states of what drives the company’s decisions and propel it further (Gloor, 2010). .
The company vision defines of where the company wants to reach in the future. It guides the company on what it needs to achieve and thereby enhances the company's goals and objectives. The new division’s vision intends to surprise customers in all its productions, and this motivates the production department into being innovative enough to exceed customer expectations. The mission gives the sense of being the best in the provision of goods and to be a basis for the decisions made by the management. The values give the company discipline to stick to the plans and to ensure that all the desires of the enterprise are fulfilled.
The division intends to have a culture of being creative and innovative at all time and anywhere in the world. The Division plans to have a culture that respects all people including customers, employees and the management Samsung. Further, the new unit wants to engage in deeper market research on the needs of clients and satisfy them most efficiently. Hard work and quality are to be emphasized for employees. The division has a social responsibility of keeping the environment clean for everybody to use. Further, it has a social responsibility to follow the laws and regulations of a country and the company as a whole. The managers have a responsibility for maximizing the resources allocated to them, and this requires commitment and honesty. In the areas of ethics, the division has to be obedient, respectful and responsible. Standards dictate the acceptable behaviors and the unacceptable ones to make sure that all people conform to the mission and vision of the company (Viardot, 2013). .
Business Model and Strategic Plan Part II: SWOT Analysis
Samsung S6 has a lot more strengths than the existing products. The product is to be created in a unique way to meet all customer needs. The product will have unique features that include: a large memory of around 64GB, RAM of 2GB, high processing speed and ease of connectivity. These distinct features are likely to be preferred by many buyers around the world, and it will boost the revenues, sales and profits of the company. The other strength is that the product will be the only since there is no such a phone in the market. The product can save energy, and therefore users can stay for a long time before the next charging. The weakness associated with this new product is that they are delicate, and they can easily break when mishandled.
Opportunities presented by this kind of product is to indulge in designing batteries with longer life or power banks since he usage of the charge is quite high. This product will also open up an opportunity for the company to show its prowess in delivering high-quality gadgets all over the globe. This model will also give the company a chance to market this unique product to the world. Additionally, the only threats associated with this product are that it needs some more modifications so as to eliminate any problems that will come along with the new model. The worst of all problems is the loss of data that may occur if the gadget falls. The product is likely to have threats that may be dangerous to the existence of the product and the sales and revenues. The expected risk is that the competitors are likely to copy the designs of the phone, and therefore it would not sell much of the products. The products can be rejected by customers due to the high prices of the gadgets compared to other phones (Betz, 2011).
Business Model and Strategic Plan Part III
The assumptions in production are that the market will only have the good as the best, and no other sound will satisfy people like the good. The possible risks are the disappointment the division might face as a result of exaggerated sales. The unit has planned its operations so as to cope with the changing needs of the market. The main objectives of each and every department are to achieve a greater competitive advantage, sales, and profits. A balanced scorecard ensures that the stakeholders perform. Communication to customers directly and through the media ensures that a healthy business environment is created (Dayal, 2014).
Conclusion
Samsung S6 is a product that will boost the company since it is expected to increase the sales, profits and revenues of the enterprise. An innovative mission statement, vision, and values will ensure that the business fulfills its goals and objectives. Having values that guide the division in terms of ethics, social responsibility and culture will ensure that the company achieves its missions efficiently and in an acceptable manner. The products to be created are meant to put the company as the top leader in mobile communications.
Betz, F. (2011). Managing technological innovation: Competitive advantage from change. Hoboken, N.J: Wiley.
Dayal, R., Zachariah, P., & Rajpal, K. (2014). Corporate planning and strategic management. New Delhi: Mittal Publications.
Gloor, P. A. (2010). Swarm creativity: Competitive advantage through collaborative innovation networks. Oxford: Oxford University Press.
Hill, C. W. L., & Jones, G. R. (2010). Strategic management theory: An integrated approach. Boston, MA: Houghton Mifflin.
Viardot, E. (2013). Successful Marketing Strategies for High-Tech Firms. Norwood: Artech House.