The Hill Project Management Company's Competitive Edge - Term Paper Example

1 Any unfavorable conditions prevailing in the market outside the organization that may cause problems on the marketer’s goods and service are considered to be environmental threats. It may be the entry of a new competitor, the introduction of a new product, development of a novel technology or such other social threats. “For example, the tobacco industry has faced numerous environmental threats due to increased social, medical, and legislative pressure against smoking” (Business Definition for: Environmental Threat, 1999, par.1). The environment scan is done in order to gain more insight into the present conditions in a universal level. The business, for its proper growth, has to take into account the global forces and analyze every single detail in a thorough manner. It has to make a study of the social, economic, political and technical forces. Moreover, studying present conditions would result in attaining maximum knowledge. The business of Hill Project Management can be affected by various global forces and, therefore, these forces need to be tended to accordingly. The analysis of the respective areas has to be made thoroughly, as it is seen that different forces affect the business in different styles. Technological changes and the problems in the economy commonly cause environmental threats to the businesses. Better and innovative ways need to be brought to fore in order to minimize these threats. Therefore, by making an environmental scan, the Hill project Management Company would be able to arrive at better solutions. 2. The environmental scanning shows that the business is competitive and currently commands a domineering position in its domain. It is seen from the fact that the business has proved itself to be efficient in several areas. The strengths connected with the business may be quality services, better support from the side of the government, good organizational climate and better conditions in the workplace. The strengths possessed by the business will assist the organization in arriving at best possible results. Eventually better market conditions will be created .Ultimately, all these factors will make the business well equipped and fortified. The aim of having proper understanding of the present conditions is to run the business in an active pace. Possessing proper control on the prevailing conditions is necessary to have a competitive advantage in the market. 3. The main competitors of the Hill Project Management Company are Acorn Energy, Inc. and Aecom Technology Corporation. It can be seen that the check is likely to be created upon one or the other particular regions. These companies are quite active at the project and construction business. Moreover, the image so created by these two industries is quite attractive and appealing too. The business has to strive hard in order to face the challenges set by these two business giants. The business has to see to it that the situations require to be made efficient and knowledgeable in approach. “Profit maximization is a good thing for a company but can be a bad thing for consumers if the company starts to use cheaper products or decides to raise prices” (Profit Maximization, 2013, par.1). One of the strategies that would prove fruitful is to increase profits and value for stakeholders at large. Basically, the industry should aim a higher target by making sure that the output requirements are met and remain productive throughout. For this, the check is likely to be worked upon on one or more of the respective regions. The Hill Project Management Company would implement strategic planning, which would be viewed as a precious extension to their production. Profits margin can be increased by employing best possible strategic moves followed by best feasible use of obtainable resources. This assists the industry to experience top expansion at the market. Furthermore, the goal is to organize things in a suitable basis. 4. The U.S. financial system is in a state of turndown and needs improvements in the areas of its strategy. The condition proves to be extremely unfavorable and demands for right management and control. At this point, the greatest possible policies are expected to be invented in order for the business to run smoothly as well as flourish. This would also ensure that Hill Project Management Company can be made more aware as well as gain the upper hand on the situation. “In the strategy evaluation and control process managers determine whether the chosen strategy is achieving the organization's objectives” (Barnat, 1998, par. 1). The hill project Management Company needs to maintain its position in the marketplace and to attain this, the check is probable to be created upon running conditions for the growth and movement of the business. It is clear that the Hill Project Management Company should adjust according to the running condition of affairs. Strategic moves require to be employed or the business cannot survive in the market. A business requirement is to be made continuous and for that managing and keeping a close eye on adverse regions is very important. 5. The strategic planning of Hill Project Management Company makes clear-cut defined steps that would assist the business to achieve its purpose. This strategic plan would provide an industry to proactively determine its issues, while developing its chances for achievement. The global competition can affect the strategy of business as well as its performance also. It is a must from the element of the company to go for considerate things at an energetic pace. Global competition need to be tackled head on for both the business to survive and also expand. The current circumstances should be utilized to the advantage of the business. The Global competition can be seen as an element, which influences and drives the business to improve itself constantly. It appears to be efficient enough to make businesses reach their potential. “Global competition creates this environment with the leading edge of a new higher quality product that will enter the marketplace” (Kerns, 2011, p. 35). The Hill Project Management Company should show correct awareness to respective issues. It is a must to consider all conditions that impact the business and they should be managed effectively as well. The reaction of the company needs to be favorable so as to gather the possible results. It must aim higher according to the innovative and efficient moves that it adopts and this would render the company effective at the global level. Global competition must be faced with proper planning as well as strategies. It is really important that the business makes sure all its assets are available and good to go. This would ensure that the business operations go extremely successful. The Hill Project Management Company should review global conditions from time to time. Therefore, it can be construed that the project and construction business must consider global forces in order to maintain its position in the market. Reference List Business Definition for: Environmental Threat. (1999). All Business.com. Retrieved from http://www.allbusiness.com/glossaries/environmental-threat/4966335-1.html#ixzz2JR2j5jmT Barnat, R. (1998). Strategy Evaluation and Control. Retrieved from http://www.introduction-to-management.24xls.com/en224 Kerns, T. (2011). Global Competition: A Qualitative Study Exploring the Change in Business Models and Strategies of Midwest Manufacturing Companies That Address Their Competitiveness in the Global Economy. Olivet Nazarene University. Retrieved from http://digitalcommons.olivet.edu/cgi/viewcontent.cgi?article=1023&context=edd_diss Profit Maximization. (2013). Investor Words.com. Retrieved from http://www.investorwords.com/7690/profit_maximization.html Read More