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waterstone_part_3.docxRunning head: WATERSTONE FAUCETS EXPANSION 1
WATERSTONE FAUCETS EXPANSION 2
The analysis is good, however, I encourage you to be more specific in applying concepts and also use local evidence and examples of other firms, as much as possible. Let me give an example - when you talk about adaptation, we have now learnt about the different dimensions of the business model - so which of the dimensions you recommend adapting? If you are recommending adapting value proposition, then are you recommending adapting value offer or value message, and what did we learn in the chapter about that strategy - what is that called (there is a 2x2 box in the chapter)? And, can you illustrate that with a company in Africa that is doing that well, so that Waterstone can learn from that. Similarly, go through all your analyses, and try to be more specific in using concepts and in providing evidence. Your stakeholder analysis section is too general, and it is best to take that out - it is adding no value. GESSI a company have already sell luxury product in African
WWW. GROHE .COM European company
Stakeholder Analysis
Business stakeholders are those individuals or parties that are affected by a business decision or strategies. Stakeholder engagement helps the business in many areas with the key stakeholders providing the business with ideas and capital for developing the firm. The primary key stakeholders for Waterstone Company are investors, employees, customers, suppliers, and community. The secondary stakeholder of the business include the government and special interest groups. The investors are considered one of the important stakeholders of the firm in the sense that they provide capital for the firm and help in supporting the business expansion into other areas and projects. In the expansion into Africa, the investors will play an important role in providing funds for the company to construct its new plant. The customers are the other key stakeholders are the customers who are the target for the luxury faucets of the company. The company develops all its faucets with the customers in mind, in fact the development and changes that are made on the faucets are all based on the interests and needs of the customers. The employees are key stakeholders to the business in that they are the individuals involved in the making of the faucets and running the business operations. The supplier are central in determining the success of the firm in that they help the firm in the production of products. The suppliers provide the company with the raw materials that are needed to produce the faucets. The community within which the company is based is also an important primary stakeholder of the company in that the company is responsible for the welfare of the community. In the modern society community welfare is paramount for any business as one of the essential practices that the business needs to implement to be successful and attract more customers.
The government is another key stakeholder of the company in the sense that it makes laws affecting the company and gives the license for operation to the company. The government must be involved in the operation of the busines in that it is needed to authorize the operation of the firm in Rwanda and to always ensure that the business follows the right standards of operations. The government authorities is also in charge of ensuring that the set standards of quality are met. The involvement of the government is important in ensuring that the new venture in Rwanda is accepted by the people who will approve that which the government has approved.
Business Model
The Value Proposition
The business proposes value through offering quality products. The firm’s value proposition lies with offering the customers quality and artful products that will be exclusive for their luxury buildings. The company specializes in making products that are unique and appealing to the people who are concerned with class and luxury. Along with quality, the firm ensures that the faucets offered are luxurious in both appearance and quality to make sure that the consumers buying the products enjoy class and quality that has been tailored to meet the demands of the people. The message that the firm conveys to the people is that it offers quality products that last for long without changing their exclusive looks.
Market Participation
The firm has already identified Africa as one of the potential market that it can exploit with Rwanda being the primary market. The firm has as well segmented the market in terms of class and income, with the upper class and the high income earners of Rwanda being the target market. The upper class in the nation have a high demand for luxury products thus making it as the targeted market for the luxury products (Cravens & Piercy, 2006). Waterstone will enter the market by direct investment and involve retailers as part of its distribution channel. The firm has branded itself as a quality and luxury firm globally and thus it will retain the branding approach even as it expands into the new market.
Management Model
The firm’s management will foster growth and development in its new market by improving the developing the employees skills and developing talents. The management of Waterstone is organized in hierarchical nature with the CEO of the company being the topmost authority and the junior managers the supporting administrators (Benson & Dresdow, 2003). The organization of the business in the hierarchical manner provides the firm with the opportunity to develop since the transfer of information among the employees is clearly laid out and the various employees in the firm know whom to approach with their issues or from whom to seek direction.
Value Chain Infrastructure
The core capabilities of the firm lies in the making of the faucets to be of quality and to look luxurious. The ability of the firm to blend art and technology in making the faucets makes it among the best for individuals to get quality faucets from that will last for long. The firm’s supply chain is short which enables it to communicate effectively with customers and understand their interests and needs.
References
Benson, J., & Dresdow, S. (2003). Discovery mindset: a decision-making model for discovery and collaboration. Management Decision, 41(10), 997-1005.
Cravens, D. W., & Piercy, N. (2006). Strategic marketing (Vol. 7). New York: McGraw-Hill.
