A SWOT analysis can be done for any company, product, place, industry, or person. They can serve as a precursor to any sort of company related action, such as exploring recognizing new initiatives, making decisions related to new policies, identifying possible areas for change and improvising. Answer: (b): SWOT analysis is performed to improve business operations by taking into account the Strength, weaknesses, Opportunity and Threats. It allows the organization to identify the key areas where the organization is performing at a high level, as well as areas that needed work and efforts to improvise. A SWOT analysis completely focuses on the four crucial elements included in the acronym, allowing companies to identify the different forces influencing a strategy, action or initiative related to the company’s venture.
Such includes Industry Structure analysis, value chain analysis, benchmarking, and taking competitors as stakeholders among other positioning strategies. The underlying objective is to understand the competitor well and make the best move as to widen the market coverage. Market forces and structures change on daily basis and so the strategy applied should be aligned to such changes. In addition, positioning strategies applied changes form industry to
In easy words, the organization wants to improve their delivery to their customers. An organization is connected of various parts and has many sub systems including Finance, Human Resource, Information Technology and marketing as well. When these all aspects are combined then they form a company. This study focuses on using the company as a Systematic thinking and this approach is very important to determine the most appropriate technology for the company based on the concerned problems. Systematic thinking is a management discipline that focus on understanding the system by linking the various components within the entire
Alignment Type and Maturity Introduction In today’s world enterprise and business always look for transform IT infrastructure services to gain flexibility and scalability. IT always looks for reducing total cost of ownership and bringing competitive solution for an enterprise success. Business are accepting the fact of IT as crucial department and plays an important role and it is necessary to have a strategy which will improve partnership between Business and IT and prepare an organization to sense and act on frequent changing market dynamics. A strategy should align a business and IT in such a way that it helps a company to grow and will transform a processes and IT infrastructure. A strategy can be plan through planned framework and
Supply Chain Management (SCM) is the wider concept of looking at the business needs from the sourcing till the production of the final product and delivering it to the customer. SCM attempt to centrally control or link the sourcing, the production, the shipment, the warehousing and distribution of products. The purpose is to ensure the whole business know what is happening when and where. By managing the international supply chain, companies are able to cut wastage and become more lean and mean, be more competitive and provide products faster. Being more lean and mean will drive the company to keep tighter control of internal inventories, production, distribution, sales and the inventories held and forecasted are all key elements in the SCM.
Business excellence is the systematic use of quality management principles and tools in order to increase performance based on the principles of customer focus, value for stakeholders and process management. The prime focus of Business Excellence is on the functional areas of a business including continuous breakthrough improvements and preventive evidence-based management. Business Excellence concerns extraordinary applications in managing an organization and achieving results and it is based on a number of basic concepts, some of which are mentioned below: Customer and market focus Leadership Strategic goals Value-creating processes Organizational and personal development (competency) Employee engagement Social responsibilities
We know for a fact that marketing strategies comprises everything from developing a product, to introducing it to the market, to selling and improving it as the need of the target market changes. In marketing, customer relation is very important, since customers play the main role in achieving ones
Management is a very crucial part of each and every business organization in that it leads to increased utilization of business resources in the manner that would enable the business organization to be able to achieve the intended goals of the company. This is an indication that every operation that take place inside an organization has to be authorized by the management as it is the one which is responsible for making top decisions on behalf of the stakeholders and the workers at large. In order for the management to realize its purpose, it has to be carried out in a manner that is strategic. In this case, strategic management should be focused on so as to increase the chances of reaping the best in terms of success in management and control.
Value Chain Analysis is crucial tool, because it can be applied to all primary and support activities. In primary activities the key for the company is to allocate funds accordingly to the inbound logistic which works in implementing total quality management, to operations with activities such as automation for fast production of athlete apparels, to outbound logistics by having reliable distributor network, to marketing and sales through developing promotion budget, developing sales budget, sales forecasting, and price positioning. In the support activities, I would recommend the company to invest more in Technology Development, and Human Resource Management. Under Armour could increase its innovative drive by creating new products in order to stay on top of the game. The company could also invest on human resource by recruiting high caliber workers, training, and have attractive compensating employees to lower turnover and talents, which could be taken by its
The used of Unilever’s portfolio of categories, channels and geographies is to discover the growth and profitability throughout the period of time. Hence, Unilever Plc should make best investment decisions. Customer Relationships Successful customer relationships are vital to their business and continued growth. Maintaining strong relationships with customers is necessary for Unilever brands to be well presented to their consumers and available for purchase at all times. The strength of their customer relationships also affects their ability to obtain pricing and secure favourable trade terms.
Riordan must adopt proven best practices in regard to inventory management. According to Russell (2007) ”Modern supply chains are customer-driven pull systems. The focal firm’s supply capabilities must be synchronized with known and forecasted demand patterns of downstream customers." (p. 60) (Russell, S. (2007). The FlexNet solution will help Riordan to become more customer