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Organizational Resources and Capabilities: Applying Concepts and Tools - Research Paper Example

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The company was known for manufacturing a series of hair products. My work experience with them has been quite effective as I not only gain some corporate knowledge but I also learnt about various operations of the firm,…
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Organizational Resources and Capabilities: Applying Concepts and Tools
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Research Paper, Management Organizational Resources and Capabilities: Applying Concepts and Tools I worked for ABC organization for abrief period of time. The company was known for manufacturing a series of hair products. My work experience with them has been quite effective as I not only gain some corporate knowledge but I also learnt about various operations of the firm, the strategies that are implemented by them to survive in such a competitive market and also the way the strategies of the organization can be effectively linked with its goals (Definition of Value Chain, 2013).
The primary activities of the company involved inbound logistics, operations, out bound logistics, marketing and sales and services. The inbound logistics is concerned with the way through which a firm procures its raw material. For ABC Company choosing the good suppliers can be a critical task as the quality of the product depends on it. Operations of the firm include all the tasks starting from the procurement of raw material to the manufacturing of the end product. The firm after manufacturing the products makes it available for the distributors, retailers, wholesalers and customers. This is addressed as outbound logistics. The firm knows how to market its product through different means such as advertisements, different offers, discounts, etc. The company also offers its employees effective sales training, so that they may effectively interact with the customers (Value Chain Analysis, 2013).
The other supporting activities that were conducted by the ABC Company include procurement, technology development, human resource management and firm infrastructure. The major challenge for the procurement department is to get the best quality raw material at best price. The company believes that adapting to new technology is the key to success as it makes a firm more energy efficient. It also considers human resource as its asset and therefore believes in recruiting, developing and training the right person for the right job. The management, legal and financial structure is firm and it helps the organization to grow (Porters Value Chain, 2013).
The Internal Factor Evaluation (IFE) Matrix
Key External Factors
Weight
Rating
Weighted Score
1. Customers’ loyalty
2. Efficient supply chain process
3. Pricing
4. Strong management team
5. Unique product
0.05
0.1
0.15
0.2
0.1
4
4
4
3
3
0.2
0.4
0.6
0.6
0.3
1. Bad communication
2. Weak management
3. Competitors
4. Declining market share
5. Losing customers
0.05
0.08
0.05
0.02
0.2
1
1
2
2
2
0.05
0.08
0.1
0.04
0.4
Total
1.0
2.77
The major strengths of ABC Company are customers’ loyalty, its efficient supply chain process and the pricing strategies. The customers’ loyalty help the company to increase its marketing; whereas the efficient supply chain process and pricing strategy help in attracting more customers. Strong management and its unique products are considered to be the minor strengths of the firm.
The major weaknesses of the firm are its competitors (struggling to increase their market share), the declining customers (lesser profits for the firm) and losing customers (indicating that the firm needs to make its process more efficient). The minor weakness of ABC Company however can be its weak communication skills and weak management that does influence the bad quality of the product.
References
Definition of Value Chain. (2013). Retrieved May 27, 2014, from The Economic Times: http://economictimes.indiatimes.com/definition/value-chain
Porters Value Chain. (2013). Retrieved May 27, 2014, from Mmind Tools: http://www.mindtools.com/pages/article/newSTR_66.htm
Value Chain Analysis. (2013). Retrieved May 27, 2014, from Learn Marketing: http://www.learnmarketing.net/valuechain.htm Read More
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