France, the US, and the UK are individualistic societies’ which means that their personal achievements and ambitions take precedence in their lives, translating into their professional lives. On the other hand Singapore is a lot more collectivist by nature therefore they consider their own position as one of a group rather than addressing their own interests. Uncertainty avoidance was the only other cultural dimension to illustrate differences in how far they were willing to accept ambiguity. France’s score showed that they were the most likely out of the four to avoid uncertainty, that the Parisian counterparts were the most likely to avoid circumstances that weren’t usual or expected. In turn the US scores the next lower score, followed by the UK and Singapore which is indicative of the approach that should best be followed, in terms of imposing a more structured organisational uniformity of procedures and practice. The final observation alongside this analysis identifies that Singapore as a society is long-term oriented which means that more stress is put on the future, whereas the other three countries have much shorter-term focus. Demand WRSX needs to carry out market research to best understand and provide for the needs of the clients by looking at their target market before it constructs campaigns in order to ensure the most comprehensive planning and appropriate strategy. Supply Value Chain It is possible to look at which functions are the ones that demand the most attention and development in order to generate value for the clientele and ultimately claim the competitive edge. By using the supply value chain model alongside the strategic purpose factors it is possible to pursue a more stabilised organisational stru... ... middle of paper ... ... The reputation of WRSX has been very negatively tarnished because of the corruption scandal which has meant that there is a general lack of confidence in the company from the investors and stakeholders, and on a wider scale also to the detriment of signing any potential new clients. This means that there is an urgent need to develop a public relations strategy to remove the negative image and replace it with a re-branded positive image of WRSX. Services Rigorous design and implementation of a more efficient method of writing reports for clients would ensure more security for the peace of mind of the client as well as helping improve competence within operations. This is important to reinforce the way clients are regarded and supported, both pragmatically and in order to build stronger relations and encourage client retention building long-term relationships.
The company conducted a serious market research and can use the results to make the best decision.
The strategic capabilities that were identified are the functions, skills and values but there are also three critical functions that have been identified; setting Danis’ objectives, the quality of service that is offered, and the ability to solve problems.
Moreover, Ansoff suggested some main direction that companies should follow to develop market and product conditions. The market development and differentiation strategies suggest that in order to increase sales, WRSX have to offer their services in new developing markets such as China or India. The strategy for market development gives the opportunity to expand their service in order to attract competitors' clients and to expand in unreached markets (Barry, Witcher and Chau, 2010). Potential solution could be acquisition of UK agency competitor to assist WRSX to enter new market quicker and smoother go through the barriers of entry such as government regulations and different culture.
In a high competitive world market and with the increasing rational buyers a company can only win by creating and delivering the best customer value than the others competitors do. To succeed, a company needs to use the concepts of value chain.
The power distance in Singapore is 74 where in Canada it is 39, power distance shows the equality of people in society or culture and the distribution of power (Hofstede Centre, 2016). In Singapore, the distribution of power is not equal everyone is not treated same but in Canada the power is mostly distributed equally. Another metrics in the model is individualism vs collectivism, from the graph above we can see the Singapore is more in collectivism whereas Canada is more in individualism (Hofstede Centre, 2016). Uncertainty avoidance affects a human behavior or a culture in large hugely. In uncertainty avoidance Singapore’s score is 8. In Singapore people abide too many rules not because they have need for structure but because of high Power distance (Hofstede Centre, 2016).
For instance, Harley Davidson may be forced to change their marketing strategy due to the entrance of a new competitor into the market. Second, Harley Davidson has to learn new skills and technologies quickly. For example, technologies are changing rapidly, so it is crucial for Harley Davidson’s business plan to change or alter in order to keep up with innovation. Third, this organization has to effectively leverage its core competencies while competing with its competitors. This is, Flexibility is required for Harley Davidson to learn how to use primary value-chain activities and support functions in the way that allow the organization to produce their products at a lower cost with differentiated features compare to their competitors in the market
For example, in the French work environment, agreements are written and usually well detailed, work is expected before friendship and credibility is earned due to performance/ efficient management of time.
Singapore acts as a role of an entrepôt for Southeast Asia due to their strategic location, port infrastructure and highly skilled workforce. Singapore also purchases raw materials from other country and then refine the product into a better product to re-export. The reason for Singapore to do this is because of the lack of human and natural resources.
Effective communication is essential when working with a client. There are many ways a communication can go wrong. Good communication is a major component of collaboration and collaborating with the client is what a professional should be working towards. The purpose of this discussion is to demonstrate effective communication using one scenario. The scenario, in this case, is as follows:
Value chain analyses a firm 's internal activities such as planning, production, and development, packaging and distribution so as to create value for clients. The function of the value chain is to identify the sources for cost reduction along with quality improvement. It means value chain is used to identify the strong and weak points, positive and negative points, the scope of improvement; in a nutshell, the advantages and disadvantages of the activities taking place in the system. The value chain is also called as a strategic analysis tool and it is a well-known concept in business management industry.
Briefly it is a systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company, allows management to make the changes necessary for better results through adopting a proactive approach. Therefore, if a company wants to know what type of products or services would be profitable it should make a market research. Furthermore, a comprehensive research will enable the company to know about the product imperfections (if there are) and to know if it has been able to satisfy customers’ needs. It attempts to provide accurate information that reflects a true state of affairs. Due to market research the company can formulate a viable marketing plan and estimate the success of its existing plan. There are two main sources of marketing research information:
Singapore as a country has had various transformations throughout its history, however the period 1950 and 1970 was quite critical. Much of these changes had a lot to do with the development of trade and manufacturing. This is without forgetting the financial sector where the intention was to come up with a financial hub that could be used in economic development. Looking at the case of Singapore, we would say that it is a productive economy with a very high market competition. This observation has been further clarified by the Swiss International Institute for Management Development, going with their report that they released in the year 2001 (Chellaraj & Mattoo, 2009). In this study, we intend to evaluate the case of political economy of development in Singapore and examine the tensions between the state and various economic institutions. In additions to examining this institution, we would also like to examine how these variables have contributed towards the attainment of favorable growth rates and economic prosperity.
Singapore gained its independence in 1965.It has been growing gradually and increasingly in the economy. I is now included among the world’s most competitive economies. This was made possible by being an public business globally, with a good business environment and a substantial political market, making it a popular country to invest in globally.
(Bamford and Forrester, 2010) posited in his book that there are four phases in the product life cycle. Each stage to an organisation is important and I will explain using a service Client Management (CM) that was introduced in my previous job as a sales representative at an automobile dealership to enable us track clients who visited the dealership. There was need for an introduction of a new and improved service to aid the sales representative do their jobs better and track their progress, basically this improvement was done using the quality function deployment in regards to low CSI score from the customers on how the sales team were not doing a proper follow up (Bamford and Forrester, 2010). Here is an application of each stage in the product life cycle;
Explain how the company’s value-chain activities can be better linked to create value for the company.