Conceptualizing a Business - Research Paper Example

? BUSINESS STRATEGY: CONCEPTUALIZING A BUSINESS Doll Beverage Company Limited is a non-alcoholic drinks manufacturing company. Its introduction into the beverage manufacturing industry starts from the conceptualization stage. The concept of business conceptualization is the most crucial step during the formation of a company. Every firm entering into the business arena should communicate its philosophies to the participants and stakeholders in the market. The act of conceptualizing an entity is essential in creating a link between the consumers’ ideas and those of the service or product providers. The current business environment comprises of firms and organization offering different kinds of products and services (John & Randel, 2010). It is evident that researchers have attempted all explorations concerning the consumers’ needs that fit the modern times. Introduction and adoption of capitalism presented a new are of free enterprise. This led to the aspect of competition among product manufacturers and service providers. In this context, there was the establishment of many companies manufacturing the same product type and providing similar services. In this case, it is fundamental that every company defines itself in a unique manner that differentiates it from its competitors. Therefore, entry of a new business firm into the market requires thorough execution of the conceptualization step. This will facilitate dispensation of the company’s operating principles to the concerned stakeholders (John & Randel, 2010). Mission Doll Company Limited aims at developing systematic mechanisms that will strive towards responding to the consumers needs in the soft drink industry. The main focus of this company is to place the customer at a reference position in all its entire practices. Doll seeks to fill the gaps that are present in the beverage market. The company acknowledges the fact that there are numerous shifts in most social dynamics with respect to the aspects of life styles and fashion. As a result, the consumer market is currently divided along the lines of trends and lifestyles. In this regard, Doll seeks to develop a corresponding shift in the products’ nature as per the dictates of these external forces of social dynamics. This company will ensure production of customized soft drinks based on the aspect of lifestyle and fashion. In this company, the consumers participate in decision making exercises through expression of their interests concerning the product preferences. Therefore, the main objective of Doll Beverage Company is to address contemporary customers’ needs by responding to the social dynamic forces (John & Randel, 2010). Vision The company’s vision statement is, “Become the leading soft drinks manufacturer by responding to the aspects of social dynamics”. Doll aims at establishing a strong market base in the consumer population by responding to their needs trough product differentiation. The company will integrate all the concepts of business ranging from social responsibilities to ethics in ensuring development and maintenance of a healthy relationship with the consumers. The basis of the company’s operation is to address the product issues resulting from the aspect of social dynamics (John & Randel, 2010). Doll appreciates the fact that consumers’ preferences are continually diversifying due to the relative morality in both the social and economic pillars of society. Therefore, the company seeks to identify the social changes and respond to the accordingly in terms of product customization. The company will always identify emerging trends on fashion and lifestyle platforms. Consequently, Doll will produce tailor made soft drinks for the consumer classes created by these social dynamic forces. We will develop close and health relationship with customers by incorporating them in decision making processes concerning product specifications. In this regard, the company will adjust accordingly to the changes characterizing the consumer market (John & Randel, 2010). Cultural Principles This company plans to establish business premises in different regions around the world. Therefore, the strategic plan takes into consideration the aspect of cultural forces in the business environment. In the first place, the company holds a principle of relativity concerning cultural aspects in the work place. It recognizes the various cultural diversities present within its integrated work force. Modern human resources in international work environments comprise of employees from diverse social backgrounds. Integration of all the employees’ efforts will require acknowledgment of their cultural differences. In addition, the company acknowledges cultural differences among the consumers. Cultural values of the subject community will influence the company’s business practices in different international environments (John & Randel, 2010). Social Responsibility Every business entity must dedicate some of its resources towards addressing the aspect of social responsibility. In this context, Doll relates to the surrounding community by ensuring implementation of social responsibility practices. The company’s mission statement emphasizes the aspect of social responsibility. The company directs its business practices towards solving social problems in the surrounding community. Some of the problems may include insecurity and theft of property. In this case, the company will participate in providing a solution towards this vice. Social responsibilities may extend to activities like providing social welfare programs to the company’s employees. These include development of day care centers for female employees with babies. In addition, the company will implement the aspect of social responsibility through participation in cultural events of the surrounding society (John & Randel, 2010). Business Ethics Government regulations are the most notable forces guiding the conduct of business activities. However, the aspect of ethics plays a key role in ensuring moral behavior in the work place and the business environment at large. In this context, Doll engages in ethical practices in the production, marketing s and human resource departments. Ethics in the human resource department requires performance of duties by employees in a morally acceptable manner. The recommended moral values in the human resource department include honesty, social justice and gender equality. Marketing asserts conduction of promotional practices in an ethical manner. Doll practices promotion exercises in a manner that conforms to the principles of fair competition. Production conforms to ethical standards through the functions of quality assurance department (John & Randel, 2010). Addressing Customers’ Needs Doll places customers in a higher position with respect to the product design and specifications. During production, the company uses the information and findings obtained from research exercises. The research findings help the company's management in making decisions on aspects relating to customer’s needs. The main aims of the research exercises are to identify the loop holes in the soft drink market. These loop holes are a result of social dynamic aspects of fashion and lifestyle. Doll acts upon the research recommendations when making research decisions concerning customers’ needs and preferences (John & Randel, 2010). Critics in Competition Although this beverage company incorporates ethical principles into its marketing practices, some of the marketing research activities violate the rules of fair competition. In this case, Doll research department obtains some research data from research processes done by other companies within the same beverage industry. In this context, the company gains a competitive advantage through cheap acquisition of research information. In addition, the company seems to copy the advertisement styles employed by large organizations in the same industry. These include copying the key words and content of advertisement messages. In this regard, some of the company’s marketing approaches are based on execution of unfair competition practices (John & Rande, 2010). Reference List John, H. S & Randel, M. F. (2010) .Strategic Business Planning: A Dynamic System for Improving Performance & Competitive Advantage. Pittsburgh: Kogan Page Publishers. Read More