Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan
ubhuhustip
business_model_and_strategic_plan_ii.docxSWOT ANALYSIS 1
SWOT ANALYSIS 6
Business Model and Strategic Plan II
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Strength 1. Cost advantage 2. Innovation of different strong branding names 3. Favorable distribution channel 4. Availability of new business resources such as market and liabilities 5. Availability of strong patent 6. Strong internal communication 7. Well-designed marketing strategies 8. Good and strong customer relation |
Weaknesses 1. High cost structure 2. Lack of knowledge on developing new brands leading to weak brand name 3. Lack of favorable distribution channel 4. Lack of market resources and liabilities 5. Lack of patent protection 6. Lack of communication within some of the internal organizations 7. Outdated market research data 8. Poor customer care services |
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Opportunity 1. Some products that re similar to the market are so expensive and of poor quality 2. Loyal customers in the market 3. Arrival of new technology 4. Loosening of regulations 5. Removal of international trade barriers 6. Hi9gh demand for products |
Strength 1. There is a lot of competition with similar products 2. Shift of customers’ test away from firms product 3. Arrival of new regulations 4. Increased trade barriers 5. Less spending budget of people and downturn in economy |
Businesses forces such as legal regulations are very important if an organization get familiar with the new trends coming up each day in the business world. It is always good to identify the specific laws that govern your business because business laws differ from one business to another. For example business laws that govern the supply chain are not the same as that governs a restaurant or an industry or a pet sitting business. Although environmental protections, business online practices and advertising must be taken into account by any business. Accounting for economic forces and trends can also make a business successful. These economic forces includes make sure there is low interest rate so that customers can spend in your products and services and monitoring the inflation rate of the economy.
Changes in an organization often occur in a while and it is important for the organization to plan and understand how to deal with these changes. An organization should make sure that they are updated with any new information outside the world market so that they can make sure that whenever there is a change like new technologies in the market they will quickly muse that for their advantage. For employees in the organization they should be aware of their situation and the changes occurring in the organization since they are also affected with the changes. They should show flexibility and willingness to embraces changes in the organization by accepting any challenge enthustically and with a desire to learn and become better by using their skills effectively.
The supply chain of the new division comprises will comprise with the primary activities and the support activities. These include the following
The supply chain will capitalize on economy of scale by standardizing all the produce and coming up with the best prices for the supply chain and building strategic partnership with the suppliers of the organization. Introducing large investment market in order to compete with other supply chain stores will reduces the problem of passing through so many intermediaries. For improvement and good services in the supply chain there will be provision of superior level of customer care.
The new division of the supply chain will make sure there are activities such as legal support and government relations and financial management to keep the store operational. New training at a wider level of staffs is essential and will be incorporated since it is an important resource. For technological development, new technology will be introduced that reduces and saves cost and also that makes faster delivery anywhere in the world. Leveraging technological includes adopting new methods by the supply chain members that involves the company allowing productive development such as by providing higher quality product and meeting the customers demand delivery required within the stipulated time of the delivery and avoiding inventory issues. Lowering cost and prices of the goods and services than the competitors is also advantageous.
The major issue facing this supply chain is technology because there is a lot of competition due to improved technology. Technology will lowers the cost of labor and improve services such as fast delivery hence meeting the needs o0f the customers. Some of the research question and hypothesis underlying technology include the following.
Hypothesis
1. Introduce new delivery services or not
2. Maximize the cost of prices for goods in the store or increase the prices.
3. Globalization will increase bilateral free trade and penetration of free standards.
Research questions
1. How will the supply chain improve in its delivery service?
2. Will introducing IT program improve efficiency of work?
3. Can designing and managing IT-enabled organizational transform the company?
Classification of business technology includes changes in domestic business and changes in international business. Changes in domestic business include reform in the financial system and introduction of new accounting standards. Changes in the international business on the other hand include. Globalization, IT revolution, wave of technological innovation and global environmental issues. The importance of classifying these issues will help to manage and identify which areas will quickly eliminate the problem of technological barrier and clarify at a broader length the issues to tackle quickly at hand. For example globalization have been revolutionizes worldwide quickly and dealing with this problem, specifically will enhance bilateral trade with other countries.
Hypothesis
1. Whether the government will regulate new trading license or not
2. Whether there will be business permits or not
3. Cooperating with the government laws and regulation will increase efficiency of the supply chain
Research questions
1. Does new regulation laws affect the company’s performance
2. Does acquiring license for the company legal
3. Does the government protect employees acts and rights
Rules and regulation for a company can be classified into two categories those which protect the employees and those that governs the company as a whole. The ones that govern employees in include employee’s new laws and assistance for the work and employees laws that can lead to them being fired. Rules that governs the business as a whole includes, rules for small business enterprises and rules for big business enterprise. This classification helps the employs to differentiate between rules that govern each individual and the business as a whole and foot the company it enables them to familiarize with the new rules.
References
Cadle, J., Eva, M., Hindle, K., Paul, D., Rollason, C., & Turner, P. et al. (2014).Business Analysis.Swindon: BCS Learning & Development Limited
Kildow, B. (2011). A supply chain management guide to business continuity. New York: American Management Association.
Riggs, D., & Robbins, S. (1998). The executive's guide to supply management strategies. New York: AMACOM.
