Synopsis of JDs Way of Life - Essay Example

JD’s Way of Life SWOTT Analysis and Table External Forces Legal and regulatory Strengths: United s is a highly regulated society. New businesses should focus on federal, state and industry regulations in order to get safer in terms of avoidance of delays in transportation, extra costs and prohibition for goods on transit. Need to abide by the Consumer Product Safety Improvement Act. Aim to protect the brand from intellectual property. Need to register the company’s trademark/patent with the US Patent and Trademark Office. New business can be opened cheaply and comfortably through a law firm. Weaknesses: Contracting systems have developed more chances of disfavoring the local domestic companies. Duration of patents and copyrights were lengthened. Lengthened duration of confidentiality period. Stringent standards of conduct for new businesses. Opportunities: Helping new businesses grow. Stringent laws and regulations enable consolidation of a better industry in the economy. Provides helping hand in the growth of investments. Changing the institutional framework to gather foreign investments in domestic businesses. Improve quality in businesses and institutions and corruption control. Liberal laws for domestic business expansion. Threats: New policies favoring businesses. Trends: Slowly progressive developments and growing sentiments for local businesses. Global Strengths: Outstanding availability of customer base. With IT in use it is easier to handle vendors. Availability of market opportunity. Make better use of various target markets globally across countries. Make better use of brand value. Making market globally would enable utilize its strengths and overcome its weaknesses. Weaknesses: New businesses have the fear rejection across countries. Over creation of stores might end up losing the market share. Sentiments and business tradition differ across markets. Some markets have low penetration facilities available. Opportunities: Explore different market segments for such multi-variants product segments. Good strategy would enable the company to seek better suppliers and manufacturers for global trade. All-in-one strategy helps to grab the new market as it follows a new business concept. Markets around the world are yet to experience such modulations in business. Threats: Global competition. Evolving new markets. Developing Asian markets pose strong threat. Innovation from across businesses and business segments. Trends: Growing international investments. Though some markets had experienced the information age but still there markets that still to get into the transformation. New business growth lies on the threshold of innovative products and business transformation. Alliances have been the very definition for new and old businesses now. Growing use of computers within businesses had helped new innovations and strategies. Economic Strengths: Markets in US have an unparallel economic and political stability if of course present scenario changes. One of the largest markets in the world. Weaknesses: Faces high debt level. Recent economic slowdown has caused fear in the minds of new entrepreneurs. Consumers are still reluctant to go for new companies and products. Price and demand for goods drive the economy. Opportunities: The government has been rendering support services off late for interested entrepreneurs. New regulations and policies are gradually making a new opening of a economy and businesses opportunities. Threats: Debt obligations remain a threat to new businesses within the economy. Huge size of the economy. Variable level of necessities across sections of people. Political impact likely to pose threat for fast moving new businesses. Trends: The US federal government has been overlooking the private enterprises with tight regulations at hand. Situation likely to change in spite of global crisis. Political support gradually changing its dimensions towards business development. Technological Strengths: Undisputable IT assets. Vast potential in the field of Information Technology. Markets are IT specialized. Weaknesses: Quality assurance. Emergence of technological vulnerabilities. Opportunities: Availability of vast pool of educated manpower. Threats: New opportunities should include developed innovations. Trends: Rapidly improving technologies sector. Rapidly improving IT infrastructural facilities. Innovation Strengths: Only method of survival. Improves both business and market development. Weaknesses: Too much exposure to innovative practices reduces customer attraction. Opportunities: New business development. Appeal to new markets. Threats: Emerging markets with highly competitive features. Trends: Steady growth of various businesses and highly beneficial. Social Strengths: Local population concentric innovative ideas to uplift company morale among people. Weaknesses: Extra costs. Opportunities: Gain better accessibility within local grounds. Threats: Sustainability. Trends: Businesses targets local markets before global expansion. Environmental Strengths: Maintaining zero-level emission. Abiding by laws of greenhouse effects. Weaknesses: Proper use of waste recycling processes. Opportunities: Eco-friendly way of teaching the customer base. Threats: Might be victim of other environmental issues. Trends: Lack of use of R&D centers that might have adverse effect. Competitive analysis Strengths: Skillful development. Weaknesses: Inability to cope with the present market scenario. Opportunities: New market entry. Threats: Existing players. Trends: Few market players. Internal Forces Strategy Strengths: Enhance organizational goals. Enhance building up of organizational plans and procedures. Weaknesses: Opportunities: Maintaining a continued competitiveness. Threats: Poor infrastructural facilities might favor inadequate policy implementation. Trends: Growing businesses and innovative strategies. Structures Strengths: Facilitate better handling of tasks. Better flow of information. Weaknesses: Inadequate management structure would end up the business to get abolished. Opportunities: Knowledge and skills development. Threats: Inability to sustain with inadequate expertise. Trends: Structural developments within an organization help to meet difficult tasks. Processes and systems Strengths: Support functions that add value. Weaknesses: Inappropriate use might cause process failure. Opportunities: Quick assessment of the market. Advancement in decision making. Threats: Adaptability and sustainability. Trends: Better uses get best results. Resources Strengths: Healthy development. Weaknesses: Improper use Lack of resources. Opportunities: Better use and sustain for better and long term businesses. Threats: Mobility of labor force. Trends: Programs for sustainability. Goals Strengths: Provide customer support. Intrinsic part of business activities. Weaknesses: Poor implementers. Fast changing organizational needs. Opportunities: Adaptability to market opportunities. Threats: Poor infrastructural facilities. Trends: Creating and establishing brand value. Estimate customer needs. Strategic capabilities Strengths: Better growth of business activities. Weaknesses: Improper implementing capability. Opportunities: Best service provider. Enhance customer base. Threats: Use of inexperienced resources. Trends: Better use of resources for better results. Culture Strengths: Develops businesses. Weaknesses: Inadequate leadership qualities to handle. Opportunities: Enhance organizational growth in terms of employee satisfaction. Threats: Varied sentiments irrespective of caste, creeds and race. Trends: Enhance sustainable business. Technologies Strengths: Advancement in science and technologies. Weaknesses: Immaturity to adaptability. Opportunities: Changing business scenario. Threats: Insufficient resource capability. Trends: Developing businesses with enhanced IT infrastructure. Innovations Strengths: Only method of survival. Improves both business and market development. Weaknesses: Too much exposure to innovative practices reduces customer attraction. Opportunities: Employee development. Knowledge and skill development. Threats: Reluctance to use. Trends: Steady growth of various businesses and highly beneficial. Intellectual property Strengths: Business creation and invention. Weaknesses: Developing technological advancements. Opportunities: Evolving ideas to dominate the market conditions. Threats: Market developments and laws. Trends: Business development and process innovations favoring entrepreneurs. Leadership Strengths: Proper functioning of business activities. Weaknesses: Demotivation due to changing environmental conditions. Opportunities: Knowledge and skill development. Threats: Poor management structure to facilitate the practice. Trends: Growth in businesses. Synopsis: JD’s Way of Life, it does reflect a style and a meaning description of a new business innovation at hand. It has a business that would suit the needs of people of every class including men, women and children alike. There are some personal collections that would be targeting the youths as well as the middle ages. Body and health items would surely be liked by most of the sections while educational training CDs and computers linked services would have no age-bar and no class sections. Almost each and every home can avail the service of the company 24x7. The company is hopeful of doing good business in spite of the market flooded with few experienced competitors. It is all set to carry along its strategies and policies within a fixed budgetary period. It has also set up its management strategies in order to implement standards within the organizational premises. Moreover, the company has installed a good number of experienced staffs and coordinators in order to assist organization’s strategic plan for competitive performance in the market. The organization has also aimed at career development programs for its employees as a part of their strategy retaining. The company had also cited specific policies in order to provide the best of the lots products and services. It has plans to re-organize its resources, restructure and subsequently refocus on the market developments for consistent improvement. The concept ‘One point’ has really ushered in as new revolution to the modern businesses. The organization too would provide its end-users with all the modern and futuristic needs and subsequently generate growth. Its vision is to develop business relations on the basis of socio-economic paradigms with a list of customers, supply chain and business partners. Also the company is sincere in its approach of fulfilling its mission. It has deliberately declared the efficient and effective use of its market objectives in order to attain its longer aims and objectives. But, in spite of the above factors adding to the value of the organization, there are also certain factors that it would be facing towards its successful market capitalization. Forces that follow to have both adverse and good impact on a particular business can be stated as follows; a) the legal and regulatory obligations, b) overall global impact over its expansion plans, c) the economic structure of the resident country, d) the strategy followed by the company in order to gain competitive advantage over its competitors, e) the managerial structure, f) the strategic capabilities of the company and g) Innovations. Business in US is highly regulated by its owners. There are various laws and regulations governed by the state in order to handle new businesses and also the existing ones. The businesses are needed to focus on the guidelines prescribed by the federal, state and industry. This in directly help the organizations to avoid delays in the process of transportation and sometimes may also benefit them in from incurring extra costs. Even it helps businesses to avoid goods from prohibition in times of transit. Goods in terms of safety need to follow the various consumer related laws that pertain to Consumer Product Safety Improvement Act. This law has been enabling the companies to maintain safety in terms of consumer reliability and consumption. Again, in US there are several law firms that allow registration facilities for new businesses thus enabling the companies to open businesses more cheaply and comfortably. But in the light of such programs that are developed organizations do face some typical form of complicacies. Domestic companies had to face lengthened periods for patent and copyrights. Stringent laws were formulated that took times to resolve and difficult for new businesses to adopt. The company has though few opportunities left. New laws and regulations have been formulated and refreshed to support new business development. They also support growth and favor foreign investments in domestic businesses. The legal framework has been changing gradually and would support institutional development. The business in order to develop it self globally has to ascertain various parameters in regard to its goals and strategies formulation. The company would be experiencing outstanding availability of customer base across markets. IT enabled businesses enable the companies to handle easier vendor services. The various opportunities world wide markets would help the company to make better use of its resources. The company would experience variable market opportunities, which would benefit the company in grabbing competitive advantage and would develop insights for better strategy development. Even those markets are full of undefined elements. As the company is in amidst of a new concept development, there are few options available and there remains fear of product rejection. The strategy of company should include that the company should target in minimum expansion plans. However, sentiments also do vary across countries regarding various product categories in different markets. Though the company would face little competition from the markets due to lack of competitors for such type of business, but the acceptance level of these types of stores by the people would be tested. The economic condition of the resident country also plays an important role in the development of new business opportunity. US have a strong economic background. But off late it has been under financial turmoil however, situations are expected to develop over time. One of the largest and strongest economy, US do face high debt level. People are mostly engaged in credit transactions. This becomes difficult for new businesses to develop their market in retaining their funds for further expansion. The government has also been developing strategies to sustain local businesses to target future growth. Though to consumers too have reacted positive to the current crisis and are reluctant to experience new concepts. US economy is generally motivated by price and demand for goods this in fact drives the nation towards innovation practices. The size of the US economy is also very vast and the federal government is also taking stringent steps to uphold the local domestic market to overcome the crisis. The success factor for the company in the long run also depends largely on its strategies adopted in order to sustain. The company being into jewelry business needs to adopt strategies to attract people through various innovative steps to showcase its products and product features. Product development also plays a major role in attracting while a product packaging, labeling and distribution process helps to attract huge customers. Strategies need to be unique and should reflect proper balanced planning approach for fulfillment of accomplishment of goals. It should reflect the company’s ability to evaluate situations according to market changes towards a particular product and services. The overall maintenance and proper functioning of the organization depends on the management structure it opts to follow. The system of management structure whether flat or hierarchical would depend on the flow of instructions and information. In a hierarchical flow of managerial structure an employee would receive information from its supervisors and need to follow the instructions available from his/her superiors. He does not have the option independently whereas; in a flat managerial structure employees have the option of working or taking decision on his/her own independent decision. This in fact is helpful for an organization like JD’s. As the company deals in various products and services a flat organizational structure would benefit its cause. Experts in their respective areas would help the company serve consumer needs and preferences. As the company has to depend upon their organizational activities for their strategic plans hence it is required that the company excels in its operational activities in order to formulate strategic plans. Moreover, developmental techniques are mostly dependent on strategic plans. In other words the techniques followed by the company are duly responsible for its strategic capabilities. Solid infrastructural development with staff expertise coupled with favorable market expectations leads to organizational capabilities. The company has been into multifarious business activities where it has been dealing with heterogeneous products and services. In this type of business activities proper and strong managerial capabilities would be required to enhance its growth. Each item is significant of one another. Computer services that would be provided by the company are completely different from sale of jewelry items. Hence, there should be specific and identical business concepts to market those products. Innovation has been regarded as the mother of success in these days. Innovation should not only be present within product development but also in the policies and strategies taken by the company for its long-term prospective. The company should be in a position to deliver the right service for the right customer. Each service provided should have something unique in its own in order to have the customer satisfaction level growing. IT services should be assigned to those staffs those are innovative in their approach while providing specific information for a problem. It should also not over lapse the main goal of the company and its plans and objectives. However, in spite of growing alarming market crisis that pose a threat to new entrants, business with such concept might find it at ease in providing customary solution not only to its own business activities but to other market segments and businesses as well. Reference: Read More