Strategic Scorecard for Clairol Company - Assignment Example

SWOT analysis and strategic scorecard for Clairol (P&G) Company SWOT Analysis Strengths It has the largest market coverage inthe industry thereby making high profits since it is a brand that is recognized worldwide. Moreover, it has an excellent reputation with a high level of customer referrals within the firm. The company enjoys a high financial strength that enables it produce more goods and thereby being capable of gaining access into other markets. This has also given it a chance to increase its market share and produce more products so that it can be capable of meeting the needs of different clients within the market. It also has a strong manufacturing competence and established brand name and innovation leader. According to Doyle and Bridgewater (2010), the main focus on the confectionery gives them an upper hand in understanding the consumers in the various segments better. The achievement of various acquisitions gave it the opportunity to expand into other markets like Vietnam (Doyle and Bridgewater 2010). Weaknesses The company experienced many of the product recalls within the market and thus leading to a high level of damage within the market and subsequent loss of clients. P&G has less exposure in the other markets and therefore it will faces difficulty in understanding the new emerging markets compared to its competitors. The release of a high number of brands at the same time also makes it hard for the management to concentrate on the performance of a particular brand within the market. More attention is given to the market share by the management and Strict laws put by the various lending bodies in the market. Opportunities There are new markets with great opportunities that exist and expand into the emerging markets such as India where the population is on the rise. There is an increase of consumer wealth and an increase in the demand for confectionery products thus an increase in the amount of profits (Doyle and Bridgewater, 2012). The markets the company operates have a high rate of acquisitions and merger currently, and there are opportunities that exist to raise market share by means of planned purchases. This will also boost the level of profits at P & G. Increase in the level of efficiency and reduction of costs is the main route to survival within the FMCG market. P & G’s plan towards cost efficiency leads to saving of costs through moving production to countries that have cheaper raw materials and reduce the internal costs The large quantities of goods that need proper storage and management are high in number, but there have been inadequate methods of handling the goods. Thus, some end up getting spoilt in the process resulting to a big loss to the organization since the products will not reach the end users (Percy and Giles, 2007). This paper, therefore, looks into the warehousing process. Threats The demand for the products within the cost environment has increased. This is an increase mainly in the transport, energy and packaging and in the end leads to a rise in pricing. This may lead to the loss of clients within the firm. There are other brands that are highly competitive and have a high level of promotion and pricing by the competitors and thus an increase in the level of pricing competition (Percy and Giles, 2007). Taking some of P & G products, especially confectioneries lead to increase in body weight and a high obsession with the calories. The push for a healthier lifestyle affects the demand for P & G products. This thus leads to a decline in the sales. Balanced scorecard Financial The cash flow for P&G Company is used to keep the company informed of the costs incurred by the organization. The administration guarantees that this is deliberately followed to guarantee that the heads of different services within the organization represent all that is used inside the firm. This gives the company a feeling of responsibility and the head of operations can think of measures that could be utilized to deliver items from less expensive assets and offer incredible quality to the customers inside the business (Sabherwal & Beccerra-Fernandez, 2011). The high innovation levels within the company gives the management an opportunity that affects the monetary execution inside the company influences the valuation of the items as well. This, therefore, prompts an ascent in the cost of items inside the business sector. The development of offers inside the business is likewise seen by the specialty unit keeping in mind the end goal to extend the benefits expected after a specific time of exchanging inside the business sector. The management ensures that the relevant business units look at the way the quality added to various things can affect the value that is going to be expressed for a particular item. The financial evaluation of a specific item is likewise mulled over to focus the budgetary estimation of the items. The administration has on its part concocted a suitable estimating procedure that it makes addresses the level of interest inside the business sector. This hence gives the organization the opportunity to viably address the various fiscal difficulties and evaluating inside the association (Bidgoli, 2010). A particular business section works with proper proportions and computations that give them the opportunity to focus the expense of operations at different times of the year. The returns are likewise ascertained after items have been presented in the business. This is used in guaranteeing that the exhibitions of the items are followed inside the organization so that the administration might be in a position where they can foresee the financial computations of the organization over a long period. The financial calculations are also looked at when doing an analysis of a suitable business sector specialty that the management can put resources into inside the business sector. Learning and growth The company adopted a number of operating procedures within the organization that gives them the opportunity to undertake all their duties within the organization smoothly and meet all the set goals within the firm. In addition, they get a chance to ensure that they improve the value of the products and meet the specific requirements as well (Person, 2013). In as much as the employees work to deliver on their part, it would be in order to pay them for their contribution as means of motivating them. P&G business unit managers always reward the employees in order to for them to be recognized for their efforts. P&G administration assures that all the workers are prepared on the aptitudes that they will need to attempt different operations inside the firm. In the occasion, there are changes that must be presented inside the firm; the management will need to prepare all the representatives so they could be fit for working comfortably inside the firm. Without adequate training, the company risks being incapable of running the operations successfully within the firm because the employees may end up producing products of low value (Person, 2013). Quality is the main consideration in guaranteeing the creation of merchandise of extraordinary esteem by P&G. They thus guarantee that the representatives have what it takes to create quality items inside the firm and guarantee that their character of value items is never questioned (Laasch & Conway, 2014). The organization has additionally benefitted client manuals that accompany each good that is purchased and consequently smooth operation strategies inside the firm. This helps the representatives to comprehend the way an item is produced so that they can be capable of getting the customers within the organization who may want to purchase particular items. Internal Process The P&G administration sets up procedures that assist in expanding benefits within the business sector. The plans are carefully followed to ensure that the employees stick to the primary operation practices within an organization. In the process, efficiency in operation is also obtained within the company. They additionally guarantee that the needs of the customers are successfully tended to inside the firm (Laasch & Conway, 2014). The operations inside the firm additionally need to acquaint inside the framework with guarantee a powerful method for operation. The organization has a framework through which the items that are manufactured in a manner meeting the relevant nature of the items as expected by the administrations and are easily accessed within the organization. The administrators additionally put set up the best business rehearses that assistance in guaranteeing the needs of the customers are viably tended to inside the firm (Hannabarger et al., 2011). The management should ensure that the products efficiently meet various demands within the firm thereby increasing company reputation. Customer The manner the administration offers services to the clients are considered imperative since the clients view it as a chance to captivate the organization. The management guarantees that the clients get the quality for their cash. Their challenges are also tended to by the employees in order to ensure that the clients are satisfied. Once a customer is satisfied, they are sure to refer a friend or colleague and thus the rise in the company’s profits (Bidgoli, 2010). The organization has likewise put set up a client relationship administration group that goes to the needs of the clients; for example, they get all the grievances from the customers and location them adequately inside the firm. This structure likewise helps in tailor-production the item focused around the needs of the customers. The administration ensures that the products produced are of high meet the needs of the clients. This also gives them the opportunity to retain customers within the firm. The administration additionally guarantees that their relationship inside the customers is compelling and over the long haul, it helps in building future associations among them and the customers inside the business. Moreover, the unit guarantees that the items are conveyed to the customers in time, and no disadvantage is accomplished by any of the customers. References Bidgoli, H. (2010). The Handbook of Technology Management. New York: Prentice Hall. Charles Hannabarger, ‎. B. (2011). Balanced Scorecard Strategy For Dummies. New York: Prentice Hall. Oliver Laasch, ‎. C. (2014). Principles of Responsible Management. Chicago: Oak Ridge. Person, R. (2013). Balanced Scorecards and Operational Dashboards. New York: Prentice Hall. Peter Doyle, S. B. (2012). Innovation in marketing. New York: Prentice Hall . Piercy Nigel, W. G. (2012). Making SWOT analysis work. New York: Cardiff Business School. Rajiv Sabherwal, ‎. B.-F. (2011). Business Intelligence. Chicago: Oak Ridge. Read More