Strategic Information Might Increase Demand and Vice Versa - Essay Example

Business models and planning Discuss why the supply of Strategic information might increase demand and vice versa? Supply of strategic information within a business model is controversial with reference to the quality of demand. At times the supply of strategic information might increase demand because it allows a business to create an open communication between all levels of employees enabling everyone to understand their roles in the production process. This triggers the need for supply of strategic information that would help in harmonizing the efforts of the stakeholders thereby increasing the productivity and thenceforth the demand. The strategic information helps in setting up standards for communication. The project leader would need to establish the standards within which the communication will occur. The stakeholders would also need to be aware of the course of the communication with the indication of how and when it will take place. The strategic information enables the project leader to set the scope for all the communications that are relevant to the project. The strategic information is also significant for scheduling various projects, within a period, thereby making the stakeholders to be aware of the progress. In proper management of the firm’s processes, the project leader would need a proper strategic information to help in ensuring consistency in the communication process. The presentation of the strategic information to the stakeholders helps them to maintain consistent communication with each other. The stakeholders would need to follow the strategic information to identify any information about the project management. The strategic information helps in harmonizing the stakeholders since all of them have similar information about the situation of the project. The project leader also has the ability to make the stakeholders aware about any change in the project. Consequently, the strategic information helps the project leader to avoid delays associated with the stakeholders being misinformed. Further, the strategic information also increases the productivity of the workers. The establishment of a strategic information ensures that every employee remains informed of every activity included in the project. For instance, a project leader of a company would need to keep the stakeholders aware of the need for their input in reducing the volume of the solid wastes by 50%. This calls for the need of strategic information, which is efficient in equipping the stakeholders with the necessary information. The strategic information helps in restricting the stakeholders to the scope of the project since keeps them within a loop of project happenings (Nielsen & Lund, 128). With the strategic information encourages the stakeholders to keep working towards achieving the project’s mission since there is no wastage of time in seeking for information. The ability of making the stakeholders knowledgeable of the happenings makes the communication to be suitable in establishing a uniform ground for collaboration of the stakeholders. What are entangled indicators? A business model needs to incorporate indicators that align with the prevailing stiff competition. Usually, a company faces a price competition whereby it is unable to align its prices to that provided by the competitors consequently calling for the need of entangling indicators. Inclusion of entangled indictors, as a strategy, assures a company of value creation. A company should focus on improving the quality of their products to compensate for the inability of reducing the prices. This will serve in attracting the customers who believe in the value of the products. At the same time a company should also increase the number of its outlets around the world. This is essential in increasing the market share especially when adventuring where the other competitors have not yet reached. Further another strategy is for a company should consider carrying out rallies in all the continents to make the customers aware of the products. It is true that proper strategic management calls for entangled indicators to act as a key to coping with a stiffer competition in the market. The mission vision and values of a company encompasses good relation with the customers meaning the achievements would involve strategies that focus on maintaining the loyalty of the customers. A company strives in meeting the three strategies through interlinking them while maintaining a closer contact to their customers. In entangling indicators a company also considers the influence of its stakeholders (investors, employees and customers) in the production process. Stiff competition forces a company to apply interlinked competition strategy methods other than pricing, to ensure that it remains profitable in the market. Give three pieces of good advice on communicating business models Employee empowerment Employee empowerment forms an intrinsic part in proper communication of business models. An organization needs to keep a closer touch with their employees across the world, to ensure that it does not lose their loyalty. The organizations need to provide the required support to the expatriates through addressing any type of cross-cultural problems that may arise. There is need for sufficient allowance to the repatriate and the expatriates to enable them work towards achievement of the organization’s goals. Another important way of maintaining the repatriates is to improve the communication with the employees whenever they are on assignment while also providing ready career opportunities (Nielsen & Lund, 128). The repatriation process helps an organization to maintain its commitment in valuing international skills and experience. Branding In the quest of attracting more customers for its product, a company should consider branding in its business model. Branding is one appropriate strategy that works in increasing the loyalty of the customers towards the company. This would enable the company to make the customers aware of their product since many of them will always accept free samples. The company should focus on including simple branding that relates to the operations and the customers should readily identify with. This will increase the loyalty of the customers while also upholding good image of the firm. In the quest for improving the image of the brand in the market, the company should also improve their packaging techniques. The packaging used should have more space for the product and present all the information about the product. Further, the company should consider manipulating their packaging to remove any resemblance with the competitors’ product. Branding always presents first sight for the customer bringing the need for the company to make it more presentable. Branding is the first image of the firm consequently putting up a business model with an effective brand promotes a good image of the firm since it increases the confidence of the consumers in the operation of the company (Nielsen & Lund, 1229). Market segmentation The use of market segmentation, in communicating business models, makes a company realize positive results in their operation. It aids a company in determining the potential of each product they produce and consumers that they (products) will suit. Consequently, there is guarantee for proper distribution of their products across all the regions since the company has knowledge of the market. The market segmentation also contributes to the company determining the approximate number of consumers that will buy their products. This serves in ensuring that the company only produces the adequate amount of products that will meet consumers demands without surplus or shortage (Nielsen & Lund, 128). For instance, through the market segmentation, the company realize that its product will target the hygiene conscious customers and the patients suffering from serious teeth and gum problems. This forms the basis for a company distributing its product to specific people who needs the products. Intuitively, the use of market segmentation has a company realizes all the potential customers and their tastes for the product. Further, the market segmentation also helps in increasing the number of customers attached to the company since the company’s product reaches them at an adequate amount and within the correct time. Work cited Nielsen, C & Lund, M. Business Models. NY: Bookboon, 2011. 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