Midas New Strategy
For any business to grow and survive in the current tough world market, its management body must come up with sound strategic plans. In other words, plans should be made and implemented for such an organization to outsmart its business rivals in one way or the other. In this case, Midas is considered to be doing quite well in automotive repairs though it offers narrow range of services. However, the management is planning to launch a new program that is aimed to boost the business. In relation, this paper will state and critically discuss the impacts that this new service will have to the existing operations.
Firstly, the new program by Midas company is a form of business diversification because they opt to add new services altogether. It is beneficial for a firm to diversify its operations as this is a strategy to minimize risks that can result to financial loss (Hill & Jones, 2010). Additionally, the new program will require for job specialization in the organization and this will improve the quality of services being offered by Midas Company. Improved service quality may be a way of attracting more customers hence increasing sales to the firm. Another advantage that will be brought by the new program is that Midas will offer a wide range of
…show more content…
In order to implement this program, it is quite sure that some inputs will be gathered from shop owners. There are reasons why such input need to be gathered from the concerned shop owners. The owners should ensure that quality work is performed and this is one reason why gathering input from such individuals is considered wise. Additionally, shop owners are there to ensure that customer satisfaction is achieved which means that they can provide reliable input concerning the new strategy. Therefore, the shop owners can provide quite reliable information that will be useful in this new
The case study, `Will GM 's Strategic Plan Lead to Success,` is about how the company General Motors Co. Plans to overcome financial deficits, ensure growth within the company, and remain competitive in the automotive industry. To help with overcoming financial deficits, GM was apart of the bailout, which assisted GM in relieving themselves of almost $40 billion dollars of debt. This restructuring gave GM an advantage over other automakers. Most other automotive businesses, that did not participate in the bailout, still have billions of dollars of debt they must repay in addition to competing with its adversaries.(Kinicki & Williams, 2013). GM made many cutbacks to ensure growth within the company. The reduced the amount models that are in production. They have recognized that some changes need to be implemented with global production in order to remain ahead.
The major issues facing the company comprises of there being multiple businesses with different demands. There are separate levels of performance and success as well as growth chances for each of the sector and the firm needs to tackle with issues in each of these divisions (Dube, J.P., 2004).
In this case, We have found Steve’s Tire and Lube’s company to have strong competitive priorities with their friendly environment, honest an reliable work, good reputation in the small town, quality service are worth the price, variety of services and supplies at retail, good employee training at vocation school, and most importantly they have loyal and hard workers， thus store turnover is rare. The order qualifier is service variety, including good services about oil changes, tire rotation and balance, brake pad replacement, and service inspection. In addition, provide retail parts and supplies are also considerable for the customer. Comparison with the same type of store, Steve’s has good order winner than others. It is about offering high
The industry has loyal customers with broad customer base that lowers the collective bargaining power of buyers to medium. The switching cost is very low and thus the customers can turn to a service provider who provide faster and innovative service but this is overcome by customized services and integrating into their customer supply chain.
It is evident that the information system used by Kahuna Cleaning Supply is rather slow and inefficient. The director of sales reports that the business lost a big order recently to the competitor who was able to provide the potential client with timely estimates online. In addition, the system is marred with a lot of errors while making orders and requisitions. The customers are not connected with an online interface and this makes it difficult for the company to compete favorably on the information front. The manual system is therefore obsolete, slow and unprofitable to the company. Therefore, in order to leverage their effectiveness and competitive edge, management seeks do develop a system that incorporates all the functions in a customer friendly interface. In this regard, a study will be undertaken on the current operat...
Achieving world class business performance is a major challenge in today’s society. Manufacturing companies continue to face increased competition and globalization from its competitors. (1, p. 148). The automotive industry is one of the most volatile manufacturing industries that we have, which was evident in the 2008 – 2010 automotive industry crisis. (2) This global financial downturn served notice to the American automotive manufactures to raise the bar, in order to achieve word class business performance. General Motors, one of the country’s largest automotive manufactures, had to receive a government bailout to survive. During this time many with the corporation asked themselves, if we were a world class business, would we be facing this pending crisis. The answer was a resounding “NO”. General Motors has come out of bankruptcy and is focused on being a world-class business organization.
A service firm performance is usually measured in terms of quality. Nevertheless, these performance measurements can also be measured in terms of time, flexibility and cost, and they can also be used by a manufacturing company. In order to analyze the measures, I will divide them to the three main parts of operations, input – process – output:
Business has been doing good with an emphasis of selling new cars as the principal business of the dealership
...s in India. Our second requirement is to analyze the market, using swot. Then we will first hand observe the quality of the market situation and the environment analysis. In the second stage we will put together our plan. After analyzing the situation in India, we will set up an objective based on the primary and secondary knowledge. Next we will base our strategy on our objective still using the information from the first stage. In the next we will implement our strategy. Assuming we come to an agreement with India, we will put our plan into action. Asking the questions: what needs to be? When will it be done? Who will do it? And most importantly what will be our cost of production? In the last stage of monitoring, we will establish required performance target, while monitoring our original plan. If any anomalies should occur in this stage we will adjust our plan.
Today, Information systems have come a long way in creating new services and provided solutions and a better chance for certain issues facing automobile industry. Automobile Industries have taken advantage of this to bring into more desirable and excellent operations, improve value to their products and to their customers, as well as enable new business standard, style and image. In this research paper, we will explore the use of Information Systems in vehicles, the arrangement of Information Systems to sustain business operations of manufacturers, and the effect of doing so on automobile industries.
They can translate their core value of honesty into action by giving true and accurate estimates for the repair service of the autos. They can translate the value of reliability by doing a satisfactory job on the repairs. They can translate their values by giving an excellent customer service to the customers. This will produce A-plus value, thus strengthen the relationships by building customer loyalty.
The business plan will also be useful in facilitating the adoption of a strategy that will help the business prosper in the modern market. The plan will be a critical tool that will help in the production of a reliable strategy for attaining the goals and objectives. The proposed business plan will be implemented in three years time. Within the first three years, the business i...
(2)Secondly, the purchase manager selects vendors randomly without analysing the performance of each vendor. However, the manager does not know which vendor offers the cheapest price or which vendor’s goods have the best quality. As result, this problem may lead to the increasing cost of the inventory and also has a negative effect on goods’ quality. The purchase department should do a market survey and then prepare a report about the performance of each vendor. This report should include various aspects of vendors such as the description about each vendor, the vendors’ b...
Over the past few years, the increasing dynamism and competition in the business operating environment has led to a lot of changes in how the companies conduct themselves with respect to its customers. Customers being the focal point of revenue; manufacturers are increasingly taking interest in being focused on customer satisfaction by delivering the products and services on time.
7.results—Examines the association's execution and change in its key business zones: customer fulfillment, money related and commercial center execution, workforce, item/benefit, and operational adequacy, and administration. The class moreover inspects however the association performs in respect to contenders.