The Concept of Latcham Direct Limited - Research Paper Example

Report On: Critically Analyse One or More Technological, Methodological or Business Trend, Issue, Challenge or Opportunity in Your Organisation Tableof Contents Table of Contents 1 1.0 Introduction 3 1.1 Overview of the Company 3 1.2 Research Aim and Objectives 4 1.3 Research Methodology 4 2.0 Literature Review 5 2.1 Recent Business Trend of the Latcham 5 2.2 Internal Environment Analysis 5 2.2.1 Strengths 6 2.2.2 Weaknesses 6 2.2.3 Opportunities 6 2.2.4 Threats 7 2.3 External Environment Analysis 7 2.3.1 Political 7 2.3.2 Economic 8 2.3.3 Social 8 2.3.4 Technology 8 2.3.5 Legal 9 2.3.6 Environment 9 3.0 Research Methodology 10 3.1 Research Approach 10 3.2 Data Collection Approach 10 3.3 Data Analysis Procedure 10 4.0 Findings and Discussion 11 5.0 Conclusion and Recommendations 12 References 13 1.0 Introduction 1.1 Overview of the Company Latcham Direct Limited is a European public limited company operating its business function in domain of information technology industry. Since its establishment in 2009, the organization has expanded its business functions in the worldwide market place. The company has become globally renowned due to its exceptional quality of services. Over the last few years, the company has offered an array of services such as integrated digital printing, data processing and multi-channel communication services to its consumers. Latcham has established its business through ensuring the commitment of delivering exceptional services to its customers in terms of its advanced technologies and equipment. In order to identify the vision and mission of the Latcham, it can be claimed that the company has concentrated on trust as well as honesty with the intention of establishing a positive culture through which the company can meet the needs and expectations of the customers more accurately. At the same time, Latcham has maintained its accountability through providing best quality customer services. Apart from this, the company has used skills and ability of its workforce along with its innovative technology and resources with the aim of delivering effective solutions to the customers. The Latcham Direct is ISO certified company, which is currently associated with wide range of services such as patient communications including issuing patient appointment letters and cytology letters. In this regard, it can be claimed that the company has been utilizing digital printing and mailing solution for providing exceptional services to its consumers (Latcham Direct, n.d.). 1.2 Research Aim and Objectives The aim of the research is to critically analyse the technological business trend of Latcham. At the same time, the study aims to identify the issues or challenges currently faced by Latcham. On the other hand, the study will also highlight the opportunities for Latcham organisation. Based on the defined aims of this research, the objectives of this particular research study have been formulated below: To analyse the business trend of Latcham To recognise the issues or challenges of Latcham To identify the opportunities of Latcham 1.3 Research Methodology In order to identify and analyse the business trend of Latcham, it is essential to gather reliable data, which would facilitate in ensuring credibility and the validity of the research. In the particular research study qualitative approach has been chosen for identify and analyse the challenges and opportunity of Latcham. In this regard qualitative research approach is the suitable research approach through which objective of the study can be duly meet. 2.0 Literature Review 2.1 Recent Business Trend of the Latcham According to the report of Business West (2014), it is identified that the company has emphasised its organisational culture with the aim of enhancing competitive advantages in the global market. The organization has also concentrated on the values and ethics with the intention of retaining its competencies in the global market place. In this regard, Latcham has profoundly hired skilled and most talented as well as committed employees for fulfilling the expectations and needs of its customers. At the same time, the company has considered the viewpoint of the stakeholders as well as its employees and consumers with the aim of improving the situation of the environment. Additionally, in order to accomplish the mission and visions of Latcham Direct Limited, the company has maintained its core values such as trust and integrity, leadership, adaptability and teamwork among others (Business West, 2014). 2.2 Internal Environment Analysis In order to determine the internal factors of Latcham, it will be essential to apply ‘SWOT’ analysis method for better understanding the current situation of the organisation. According to the report of Xerox Corporation (2013) Latcham is one of the strongest players in the global market due to its wide ranging services in the information technology industry. The company has implemented several strategies with the aim of maintaining its leadership in the global market. However, Latcham has faced several challenges from its competitors, which has certainly hampered the growth of the company (Xerox Corporation, 2013). Those are described below for better understanding. 2.2.1 Strengths The strength of Latcham lies in its ability to provide an array of services to customers through its diversified business units such as direct marketing, cross media marketing solution and financial services among others. In order to highlight the strength of the Latcham, it can be claimed that the company has provided its quality services to the consumers by executing the communication in an appropriate manner. At the same time, the company has incorporated innovative approach with the intention to cater the needs and expectations of the consumers. Furthermore, positive working environment has also influenced the performance of the company in an extensive manner (Xerox Corporation, 2013). 2.2.2 Weaknesses Even after wide range of products and services, Latcham has struggled with environment related challenges. In this regard, it can be also claimed that despite the acquisition of cutting edge technology, the company has witnessed several challenges due to lack of skills and abilities of its workforce (Xerox Corporation, 2013). 2.2.3 Opportunities Expansion in the global emerging markets has enhanced the opportunity for the company. Moreover, the company has installed solar panels on the roof of the factory, which has enhanced the opportunity for the company by reducing the negative impact of carbon footprint in the environment. Apart from this, it can be also claimed that Latcham has enhanced its opportunity in the global market through improving its resource efficiency and the cost effectiveness during the business operations (Xerox Corporation, 2013). 2.2.4 Threats On the contrary, increasing competition has become one of the key threats for Latcham. In this regard, it can be claimed that lack of skilled employees have initiated profound threat for the company. Additionally, it can be also claimed that the company has recently faced several challenges due to its strategic gap and global financial crisis, which has hampered the growth and profitability of the company to an extent (Xerox Corporation, 2013). 2.3 External Environment Analysis On the other hand, in order to identify the external environment of Latcham, it will be vital to apply ‘PESTLE’ analysis tool for better understanding the current situation of the company. According to the report of Xerox Corporation (2013), it can be claimed that external factors can influence the business performance of a company in an extensive manner, which can hamper the potential of the company and it may cause negative influence on the business environment (Xerox Corporation, 2013). Those are highlighted below, with the aim of identify the external environment of Latcham. 2.3.1 Political Latcham operates its business across the worldwide market. In this regard, it can be claimed that the company has faced several threats from political environment of the world, which has hampered the operational efficiency of the company such as labour related problems. At the same time, trade agreements and business relations have become complicated due to high involvement of the political factors. Thus, in order to reduce the external political threats and to manage its business operations efficiently, the company has involved in closely monitoring the political factors of the operating market, which may assist the company to maintain its structure and stability during the global business operation (Xerox Corporation, 2013). 2.3.2 Economic The impact of the economic downfall in the global market has also affected the growth rate of Latcham. Simultaneously, inflation and high exchange rates have also affected the purchasing power parity of the global customers, which has indirectly influenced the business operation of Latcham. Thus, in order to ensure its stability in terms of flow of capital and financial aspects, the company focused on its competitive advantages. In this regards, it can be claimed that through providing interrupted services, the company has raised £6.8 million turnover during the year 2013 (Xerox Corporation, 2013). 2.3.3 Social With respect to the social context, Latcham has incorporated social media as a medium for enhancing the communication with its consumers and stakeholders. At the same time, Latcham has also participated in the cultural activities through the help of Corporate Social Responsibility (CSR) related activities (Xerox Corporation, 2013). 2.3.4 Technology Technological advancement in the contemporary era has become a frequent trend. In this regard, Latcham has incorporated several innovative approaches and technological solutions with the intention to enhance the efficiency of the company, in terms of its products and services (Xerox Corporation, 2013). 2.3.5 Legal In the contemporary era, legal aspects have become a serious matter of concern for the organisations. Simultaneously, corporate taxes and business related taxes have been increased. At the same time, legal framework has become strict regarding the information security, labour related law and i.e. economic policies. Thus, Latcham has maintained legality, morality and ethics to ensure a healthy relationship with its employees, stakeholders, consumers and partners with the aim of enhancing its business performance (Xerox Corporation, 2013). 2.3.6 Environment In order to maintain the environmental protection, Latcham had concentrated on its financial stability and ecological environment. At the same time, the organization has also developed healthy and hygienic working environment for ensuring its success within the industry. Moreover, it can be claimed that during the business operations, the company has concentrated on the emission of CO2. On the contrary, Latcham has tried to establish ‘Go Green’ services for environmental protection (Xerox Corporation, 2013). 3.0 Research Methodology 3.1 Research Approach In this research study, qualitative research approach has been taken into consideration. This is a specific research method that helps researchers to decide about what to study and what to be analysed in the paper. Additionally, in order to meet the objective of the research it was essential to gather reliable and accurate data, for drawing valid inferences (Kolb, 2012). 3.2 Data Collection Approach Data collection approach is most essential aspects in case of qualitative research study, which helps to identify and analyse the challenges and opportunities for Latcham’s current situation. Thus, in order to gather reliable and valid data, secondary research approach has been incorporated. Moreover, during the collection of data wide-range of academic literature such as peer-reviewed journals, books and business related articles have been taken into consideration (Namey & et. al., 2007). 3.3 Data Analysis Procedure In this research study, in order to identify and analyse the challenges and opportunity for Latcham, it is essential to analyse and generalise the gathered data in efficient manner. In this regard, academic viewpoint has been analysed in order to identify the objective of the research study (Namey & et. al., 2007). 4.0 Findings and Discussion Based on the above discussion, it is witnessed that Latcham has faced several challenges during its business operation. According to the study, it is revealed that the company has integrated its business objective, values and capabilities with the aim of reducing business challenges. Moreover, the company has used its knowledge to establish a strategic plan for implementing business growth. Apart from this, Latcham has applied its analytical approach in terms of technical as well as operational perspective with the aim of enhancing its quality of products and services. In addition, through the assistance of collaborative effort Latcham has introduced innovative digital printing as well as marketing communication process, which has enhanced its efficiency and flexibility in terms of business operation. Thus, it can be claimed that Latcham has adopted strategic measures to enhance its efficiency, which has facilitated the company to meet the needs and expectations of the consumers efficiently. Moreover, it can be claimed that the company has adopted tools and technology with the aim of satisfying the needs of its consumers (Business West, 2014). Based on the foregoing discussion, it can be claimed that Latcham has concentrated on its employees with the intention of enhancing their skills and competencies. At the same time, the company has also focused towards its technology and resources for ensuring the delivery of services to its consumers. Apart from this, Latcham has maintained its accountability, reliability and ethics during its business operations. Thus, it can be claimed that through concentrating all these essential aspects of business, the company has met the expectation of its consumers as well as stakeholders. Moreover, through committed approach towards its customer, Latcham has improved its competitive advantage as well (Business West, 2014). 5.0 Conclusion and Recommendations Based on the above discussion, Latcham has maintained competitive advantage through incorporating innovative as well as advanced technological aspects with the aim of enhancing its capabilities and competencies. In addition, the findings from the study suggested that Latcham Direct Limited has delivered effective solution for its customers to maintaining the core values and competencies of the business process. Conversely, it has been identified that the company has faced certain challenges due to lack of skilled and knowledgeable workforce. Retrospectively, it can be recommended that the company should concentrate on the training and development of its workforce for the improvement of its business process. Simultaneously, it can also be suggested that through improving the resource efficiency, the company can witness growth. Additionally, it can be also recommended that through improving the cost efficiency, Latcham can ensure its strong position in the competitive market place (Business West, 2014). After considering all these above stated facts, it can be claimed that through effective leadership practice, Latcham can enhance its level of profitability and future growth prospect. On the other hand, through concentrating on the quality of product and services, Latcham can proactively cater the needs and expectations of its consumers and stakeholders. References Business West, 2014. Latcham Direct Go Green and Save Over £10K. Go Green Bristol, pp. 1-2. Kolb, S. M., 2012. Grounded Theory and the Constant Comparative Method: valid Research Strategies for Educators. Journal of Emerging Trends in Educational Research and Policy studies, Vol. 3, No. 1, pp. 83-86. Latcham Direct, No Date. Welcome to Latcham Direct. Home. [Online] Available at: http://www.latchamdirect.co.uk/ [Accessed December 13, 2014]. Namey, E. & et. al., 2007. Data Reduction Techniques for Large Qualitative Data Sets. Stanford, pp. 137-163. Xerox Corporation, 2013. Cross-Media Campaign Converts 75 Percent Of Landing Page Viewers Into Subscribers. Latcham Direct, p Read More