Analysis of One Point Company - Case Study Example

Business Scoreboard and Summary The Strategic objectives in Shareholder Value or Financial Perspective Market Share: Market share simply refers to the company’s attaining its share from the market in the form of profit and sales on the basis of the investment it has made for the customers, consumers and end users. Since One Point looks for offering wide range of products and services to the customers belonging to different social classes, genders and age-groups, it has developed strategies to make huge investment in multiple consumer items to enjoy imperative market share with sales point of view in return. Since market share is based on the investment of time, money and resources allocated in a business, the company aims to attract the attention of the customers in order to enhance its sales volume, profit measures and business activities; all these things are possible by regular visits of the customers and placement of orders by them. 2. Revenues and Costs: It is intrinsic in a successful business that there must be a balanced relation between its costs and revenues. One Point is also determined to develop its strategy in such a way that could keep balance in business activities. In the beginning, costs are always higher than revenues, because of the multiple expenditures being spent on infrastructure and running business activities as well as on the staff members hired for providing services to the customers. In addition, taxes and other liabilities are also included in total costs. Somehow, One Point aims to provide maximum benefit to the customers by placing minimum profit margins in the products, and affordable and reasonable turn out against the services rendered by the company. Hence, customer satisfaction is the most important thing in the strategic management of the company. 3. Profitability: Since every business activity has direct relation with financial benefits and advantages, profitability is always one of the most imperative parts of strategic analysis devised by an organization. But it does not mean that the companies should allocate all resources in generating profits by hook or crook. On the contrary, the profitability must be carried out on the basis of customer affordability and satisfaction. One Point aims to interconnect its profitability with the providing of high quality products and services to the customers on which it would not make any compromise at all. Hence, the profitability would be made after offering best services to the customers, and dividend would be allocated for providing more quality items to its customers. 4. Competitive Position: One Point is determined to lead the market by strengthening its competitive position in the market, which can only be possible provided it sustains the quality of products and maximum stalk in bulk to the entire satisfaction of the customers. It would not only strengthen the competitive positioning of the company, but also develop and enhance the customers’ trust and belief that every consumer item is available only at One Point. Strategic objectives in Customer Value Perspective: 1. Customer Retention or Turnover: It is fact beyond suspicion that customers are the most important phenomenon in business ventures, all commercial activities are conducted keeping in view the customers needs and requirements. Thus, capturing the attraction and attention of the customers is most important issue for the management of One Point. If an organization fails to invite the customers at its doorstep, it will be impossible for it to enter into any venture or make sales at all. Hence, One Point has devised large scale advertisement plan through the print and electronic media including newspapers, periodicals, bill boards, broachers, television, cables and the internet etc. 2. Customer Satisfaction: Customer retention and satisfaction is the focal point in all transactions and ventures according to the strategic objectives devised by the management of One Point. Customer satisfaction could be witnessed by providing different items at economical rates in comparison with the rival brands on the one hand, and without making any compromise in the qualities of the products on the other. Moreover, the company 3. Customer Values: Customer values refer to the needs, demands and requirements of the customers, which they expect from a market, an organization or a company. It is in human nature that man looks for quality, perfection, novelty and innovation in everything in his use at discounted rates. One Point has devised its strategy by analyzing all these realities and business phenomena. The company not only aims to offer wide range of items under one roof, but also offers special discounts on several items without decreasing the quality of these products. The strategic objectives for Internal Operations Perspective: 1. Measure of process performance: Process performance discusses internal operations perspectives including creation and manufacturing of different products with innovative ideas and inclusion of novelty and distinction in it. In addition, it also seeks the problems faced by the management while conducting the corporate activities and dealing with the problems related to human resource and staff members as well. Identification of markets for the products on the basis of latest trends and exploration of the expected customers also indicate the process performance. All these processes determine the future activities to be adopted by the company in the light of the growing customer needs and changes taking place in the corporate sector in the aftermath of globalization and technological advancements. 2. Productivity or productivity improvement: Like other corporate firms and organizations, One Point also lays stress upon productivity improvement, which is possible only by close examination of the quality of the products created and presented by the company while making a comparative analysis with the same products offered and launched by the competitors and rivals. In addition, One Point will have a constant eye on the rapidly changing market scenario, so that the customers could enjoy the innovation in products and services, and the sales volume could observe fast increase and expansion in profit too. 3. Operations metrics: Being a multiple products and services providing company, One Point has devised a comprehensive strategy to calculate the effectiveness and efficiency of the operations being exercised by human resource, finance, marketing, sales and operations departments for the customer satisfaction and boosting up sales volume of the company. Operations metrics can be applied through conducting market research and making assessment of the growing customer desires. Furthermore, increase in sales volume and work performance of staff members is also helpful in estimating the worth of the operations applied while creating different products and launching them in the market. The Strategic objectives for Learning and Growth (Employee) Perspective: 1. Employee satisfaction: Employees serve as the most imperative stratagem of an organization, and every operational activity and growth of the organization is dependent of workforce and employees. Consequently, organizations pay special attention to employees’ satisfaction in order to draw better results. One Point has articulated a scheme for the satisfaction of its employees. It has announced thirty annual leaves with pay and five day week as well. Moreover, it has also announced free medical treatment once a month. It has also recommended maternity leaves with pay for the female staff members as well. Moreover, it occasionally revised and increases salaries of the employees. The company also bestows awards upon the employees on displaying outstanding performance and meeting with the sales targets. 2. Employee turnover or retention: All great brands, companies and corporations including Microsoft Corporation, Marlboro, Coca-Cola, Red Hat, Apple Inc, Honda and others articulate their strategic plans in such a refined manner that the employees feel themselves secure and protected in financial and career point of view. One Point is also determined to provide complete relief and detention to its committed staff members, so that they find no job uncertainty at all and can work diligently for the growth and fame of their organization. Besides job satisfaction, the employees also receive encouragement in the form of rewards, salary increase and promotions on the basis of their work performance and hard work. 3. Level of organizational capability: One Point looks for hiring the services of talented, hard working and diligent staff members in order to compete with the rival companies and provide its customer quality service. It is therefore the management of the company strongly believes in placing right person at the right place in order to draw out maximum output. Furthermore, the company will arrange training sessions and seminars time and again for the improvement of the skills and abilities of the workers and staff members. 4. Nature of organizational culture or climate: One Point aims to offer a pleasant, friendly and amicable environment to its employees, under which they could exercise their abilities without any discouragement or harassment. The corporate culture will allow the workers and managers to participate in strategic management programs in order to give vent to their innovative ideas for the best interest of the company. 5. Technological innovation: Being the leading service providing organization, One Point will install latest machinery and other technological and navigation equipments in order to provide best available and fastest possible tools and techniques to its qualified staff. The well-equipped staff can display best performance with the help of best available equipments and resources, and can render fast and swift services to the entire satisfaction of the management and customers. PART II SUMMARY: Critical thinking simply refers to involvement of in-depth analysis and observation in order to interpret the results of given information. Critical thinking does not allow drawing out immediate results without pondering upon the available facts and figures. On the contrary, it lays stress upon making a critical examination of concealed facts hidden in the background of the given information. “Critical thinking is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action.” (Scriven & Paul 1987: 4) The present study has discussed in details the aims and objectives determined by the newly launched business under the title One Point. Since providing multiple items and products under one roof simultaneously is really a hard nut to crack, the company should have to make very hard efforts in order to make their dream and ideas into reality. Hence, a comprehensive and extensive market research and advertising campaigns are required before launching such a huge project so that the project could escape failure, fiasco and utter collapse. It has often been observed that all renowned brands of international fame and reputation have established research departments in their setups under which market situation is analysis and examined, and in the light of which the entire business strategy is developed and commercial activities are conducted. Thus, the management of One Point must also explore the business environment before launching its business venture. Furthermore, the company must hire the services of professionals for the accomplishment of an all-inclusive advertising campaign so that the people could get acquaintance with the name, logo, and brand, as well as the products and services being presented through the platform of One Point. The advertising could be made through print and electronic media in order to capture the attention of the customers, consumers and end users. Though providing and presenting of the items of multiple use is really the trend of contemporary times, which is encouraged, admired and appreciated in all corners of the world by the people belonging to divergent racial, ethnic and regional groups and communities, yet it serves as a tremendous challenge for a completely new business and requires the team of professionals and experienced board of directors in order to turn it into a reality. Moreover, core values of the customers should also be taken into consideration. For instance, sales of sex items, wine and drugs is considered to be against the core values of many communities, and is condemned and censured by the elders of those communities. If the items of these types are sold out through the platform of One Point, it might destroy all the sincere efforts made by the management of the company under analysis. Thus, the so called strength of the company may turn out to be the weakness for the company. On the other hand, there are some issues that are regarded as the gesture of goodwill and pleasure for the customers without discrimination of area, region, age, gender, race and ethnicity. Moreover, it is also reality that there is nothing permanent except change, and change has always been the order of the day and is welcomed by everyone even the most traditionalists. Thus, the fast developing and changing trends must also keep in view while devising the strategy for the companies. Thus, keeping in view all these matters and things, One point has developed a remarkable vision and mission statements before commencing its wonderful business plan, which if successfully implemented and launched, will outclass all rival corporate firms and competitor organizations. Reference Haitsch, J.D. (2009). Conceptualizing a Business. Unpublished paper, Bus/475—Integrated Business Topics, University of Phoenix, Phoenix, AZ. Scriven, Michael & Paul, Richard (1987) Critical thinking http://www.criticalthinking.org/aboutct/define_critical_thinking.cfm Shultz, Don E. (2001). Bid Farewell Strategy based on old 4Ps. Marketing news; Feb 12, 2001; 35,4; ABI/INFORM Global. p 7. Read More