The Strategies of Colorado Company - Essay Example

Colorado Company Colorado Company focuses on Applied Control Equipment. The company is based in China and carries out its operations in several countries in the globe. The company has undertaken various activities aimed at providing a wide variety of products to meet the needs and satisfaction of customers. Colorado Company is focusing on improving its research and development capabilities, as it seeks to enter new emerging markets. This will prove beneficial in acquiring the needed knowledge and skills in engaging global operations, as well as, attaining maximum possible returns. The available work force and resources is the most essential asset to attain the set objectives (Trapczynski & Thomas, 91). Therefore, the company focus on preserving the health and safety of employees remains a crucial part in every phase of the business operations. The aim of the memo is to provide a strategy plan for the company to the CEO for one and ten years’ time. The company has been operational for a few years and has managed to attain tremendous progress. Establishing a memo to the CEO,that highlight the company’s strategic plan for one and ten years’ time will provide an essential blue print forplanning future global operations. Colorado Company’s international goal: To reach a diverse market segment and become a dominant leader in the fast growing Applied Control Equipment industry Strategy 1:Colorado Company to attain the set global plan of gaining a diverse market segment will require more resource allocation within china and other targeted areas abroad. In one year, the company will require to open up new branches locally in China to attain its set goals. The business environment in China is appealing to investors due to existing and emerging opportunities. The company opening up new branches will provide a platform for increasing returns. The company to attain maximum possible returns would need to employ business strategies that align to the prevailing competitive forces. This will ensure Colorado Company optimizes on the existing opportunities to attain its potential. The company strengthening its position locally in the Chinese market would be an added advantage of expanding globally. The Chinese business environment is diverse thus capturing the wide market segment will guarantee maximum exploitation of the existing opportunities. Different business environments have varying traditions and culture. The company carrying out studies regarding the safety practices, as well as, priorities in the different markets will be pivotal in designing effective business practices. China offers a diverse market hence easier to emulateothermarkets abroad. In one year, the company needs to have penetrated the local market through business practices that align to the prevailing conditions. The company capturing a significant market share would guarantee more revenue for expansion purpose. The company has a culture of creating products that relate to the various business environments. This is an advantage for a company operating on a global level, as it can attract customers from different heritages that still recognize their roots (Trapczynski & Thomas, 99). In ten years’ time, the company will have established itself in both local and global market for it would have understood the diverse cultures. Objective 1: To attain a significant market share both locally and globally. Understanding the different business cultures in the emerging market will be crucial in employing relevant business practices that would enhance the potential of the company. In one year, the company needs to strengthen its position locally to enhance its potential. This will provide an appropriate platform for expanding globally over the next ten years period to increase its market share. Strategy 2: Colorado Company creating competitive advantage features through employing an innovative strategy to enhance product quality and customer satisfaction. The success of the company is based on a production system that is made up of manufacturing elements that accommodate the corporate strategy, systems, culture, controls and structure. The company needs to focus on long term perspectives rather than short term financial objectives. The company needs to develop completely new and creative design solutions that will ensure the existing market place is captured in a unique manner. Continuous improvement, learning and research will ensure the production process focuses on all aspects to satisfy the customer. Consumers play a vital role in the success of the organization hence focusing on their aspects through innovative strategies will enhance consumer loyalty and increase in returns. The strategy will also reduce operational costs through eliminating wastes and overall costs associated with the production process. The company employing an innovative organizational culture will ensure that both employees and external suppliers are challenged, respected and motivated in coming up with new ideas and perspectives. The strategy and culture will support employees in the production process to improve continuously the quality of its products through skill development, teamwork and individual initiative. The strategy will play a key role in improving the culture, structure and controls thus attaining an advantage edge in the competitive environment. Colorado Company is an applied control equipment company hence safety is an essential aspect. Massive safety recalls have been a subject of debate in the competitive business environment. This has created pressure in the production systems due to public scrutiny. In one year, the company will establish all the fundamental aspects to ensure that safety in the production system is attained. This will ensure that the company has a long-termsuccess and sustainable organizational culture to capture a significant global market share. In china, many organizations are employing innovative strategies in their business operations. This is making the business environment to be relatively competitive hence the need to look for better techniques of optimizing on the existing opportunities. Objective 2: The Company employing innovative strategies to enhance product quality and customer satisfaction plays a vital role in ensuring profitability and business growth in the long term. The innovative strategies will provide an appropriate avenue of assessing the risks involved thus prioritizing on safety. This will ensure that new emerging threats and risks are addressed thus increasing the safety standards. Therefore, the company employing experienced management in its leadership both locally in china and in overseasmarkets, it will attain its market value by addressing quality and safety through innovative strategies. Strategy 3: ColoradoCompany will be the best provider of Applied Control Equipment in China and overseas markets by providing the best quality automation solutions. The company has operated for a slightly long time. This has givenColorado Company immense experience in product application knowledge in different regions and climates. This has imparted the skilled team of application engineerswith the needed skills and knowledge to provide the desired products. Employees in the company can carry out research on the trends of the business activities in one year. Studying the previous trends in business activities will provide an insight on future performance of the company. The engineers will then set up the production and design process to align to the essential features that influence the business environment, while optimizing on the existing opportunities. The unique production process of the company will require the company to employ the differentiation strategy, as clients will be provided with products that are difficult to find. The products being unique and highly effective will enhance loyalty and satisfaction among customers in the different markets. Colorado Company can be the best in the Applied Control equipment industry for they operate in a diverse business environment. The company also aims at expanding into overseas markets that prove to have a potential in maximizing returns. The distinct quality products produced by the company will have a relatively upper hand that its competitors. According to Trapczynski & Thomas (107), this will tremendously increase the market share leading to increase in returns than its competitors. Increase in revenue is important for the company to carrying out expansion activities in the production and opening up new branches. This will make the organizational culture for Colorado Company to be superior compared to its rivals as it expands to new markets for it easily meets the needs and expectations of its customers. Objective 3: Colorado Company has the potential of becoming the best provider of Applied Control Equipment due to the experience and expertise in the field. The company operates in a diverse business environment and can optimize the existing opportunities through research and development to come up with distinct products. The differentiation strategy will ensure that it has an advantage edge over its rivals thus experiencing tremendous increase in sales and revenue. The resources obtained from the employed strategy will prove beneficial for expanding into new markets and enhancing efficiency in the production process. Strategy 4: The company entry into joint ventures with more established organizations in emerging markets. The company entering into joint ventures with more established outlets will boost the potential of Colorado. Organizations that are established in new markets will provide the needed infrastructure and knowledge in optimizing the local existing opportunities. Strategic alliances are essential in a difficult business environment. In one year, the company studying the local business market, as well as, potential emerging markets abroad will provide an important platform of determining strategic joint ventures that can be exploited. This will provide an opportunity for the organization to share resources and ideas with organizations that have a common objective. This will ensure that the company has a strategic business location, as well as, customers who will enhance the rate of sales and revenue. Objective 4: To establish effective strategic joint ventures with other organizations both locally and abroad. The strategy is beneficial in emerging markets that have risks, as the established organization will provide the needed infrastructure. This will make Colorado Company to experience limited losses if any, as well as, invaluable information of operating in a foreign location. In one year, the company will have established organizations that have a potential of enhancing their activities in the competitive business environment. The strategy proving beneficial in attaining the intended goals the company will adjust to the prevailing conditions. This will ensure the company attainslong-term success and sustainability. Work cited Trapczynski, Piotr, and Thomas Wrona. "From Going International To Being International - Strategies For International Competitiveness." Poznan University Of Economics Review 13.1 (2013): 89-114 Read More