Nestle Decided to Investigate Further the Possibility of Moving to Italy - Case Study Example

Strategy Management Report: Nestle Decided To Investigate Further the Possibility of Moving to ITALY Table of Contents Table of Contents 2 Introduction 3 2. Environmental Analysis of Italy 4 2.1 PESTEL Analysis 5 2.2 Porters Diamond Model 9 3. Risk Analysis of the Business of Nestle 12 4. SWOT Analysis of the Business of Nestle 15 5. Recommendations 18 6. Conclusion 19 References 21 1. Introduction In this contemporary era, different business industries have become much competitive in nature. After the advent of globalisation in the world economy, business industries have focused towards gaining more profits from the respective operational procedures. In order to gain more profits, the companies desire to capture more market share and expand their respective businesses in diverse regions throughout the globe. The imposition of globalisation in this present day context certainly made the business expansion procedure comparatively easier as compared to the earlier years. It is eminent to state that the open market structure of an economy has worked as a positive influential factor for global expansion of business (Child & Hsieh, 2013). The expansion of business within a new operational environment depends on several important aspects such as internationalisation of business. In the process of business internationalisation, the increased level of globalisation makes the business firms to make strategic efforts in fulfilling their respective targets. With the imposition of globalisation, the competition in the business industry has increased. In this regard, the expansion of business is recognised to be a vital factor for better development of business. However, the expansion of business can also impose negative impact over the development of business operations. In this context, the companies should implement few global business strategies for eliminating all the barriers that arise during business expansion or performing trade on international basis (Pattaravongvisut, n.d.). Nestle S.A. is an international company, which mainly deals in beverage and food products. The company was formed in the year 1905. The company started its business operations through the process of merger, which held between Anglo-Swiss Milk Company and Farine Lactée Henri Nestlé. The headquarter of the company was established in Vevey, Switzerland. Moreover, the company possessed over 8000 brands along with a vast variety of products such as bottled water, milkshakes, coffee and tea among others. On the other hand, the company also deals with variety of products such as confectionery, dairy products, ice cream, pet foods, frozen foods, infants’ goods or baby food products, health care nutrition products, sauces, seasonings and soups (Nestlé, 2014). Based on the provided case study, Nestle is now intending to expand its business in Italy to sell one of its brands named Perrier. Though Italy does not possess strong economic conditions, still the company is expected to gain more profits by selling the above stated brand in the respective business markets of Italy (Prezi Inc, 2015). In relation to the above context, the assignment intends to prepare a detailed strategy management report about the decision made by Nestle to investigate its further possibility to move with the brand of Perrier in the business markets of Italy. In order to suffice this objective, the environmental analysis of Italy will be mainly conducted. This environmental analysis will include PESTEL analysis and Porter’s diamond model. Besides, a risk and SWOT analysis of the business process of Nestle will also be conducted. Finally, the study will provide recommendations in the context of developing the business process of Nestle in Italy. 2. Environmental Analysis of Italy Environmental analysis of a country is recognised to be an important factor to consider for developing a new business within such country. Before entering into Italy for selling the brand of Perrier, it is essential for Nestle to conduct an environmental analysis of the country for obtaining a brief idea about the factors that might influence in a positive or negative way in the procedure of selling the brand in the business markets of Italy. 2.1 PESTEL Analysis Based on the case study, Nestle has decided to sell the brand of Perrier in the business markets of Italy after facing several difficult questions concerning the future of this brand. It is worth mentioning that by understanding Italy’s present market situation, Nestle will be able to acquire knowledge about the implementation of new strategies for its business expansion within the country. Through the conduct of PESTEL analysis, the company acquired broad understanding about the macro environmental factors. It is expected that by conducting the above analysis, the company might learn about the market growth and potential for holding a vast business (Hohenthal & et. al., 2014). A detailed elaboration of the factors concerning PESTEL has been discussed below. Political Italy is a country of Europe continent having a good position for trading. Initially, Italy was duly considered to be the founding member of European Union. In this regard, it must be mentioned that Italy holds better foreign relationship strategy. Based on the above scenario, it can be inferred that the political situation of the country is deemed to be much stable as compared to others. Contextually, from the political overview, Italy is regarded as an ideal country for dealing with several products (Crane & Matten, 2010). The political environment of Italy is perfect for doing export business. Since Italy is having good international relationship with other countries, it does not have any strict restriction over the import and export of capital and goods. In this regard, the company Nestle is expected to be more beneficial in conducting business by selling the brand of Perrier. Apart from the above discussed aspects, Italy also follows the International Accounting Standards that have been adopted by all the European Union member nations and the US as well. Italy is noted to be a democratic country with having multi-party regulating system (Cuellar-Healey& Gomez, 2013). Economic The prevailing economic environment is recognised to be another important factor for starting any business within a specific nation. Italian economy is deemed to be much strong as per the industrial perspective. More specifically, it can be explained that Italian economy is considered as quite powerful owing to the reason that it tends to promote services industry as compared to others. More evidently, it is explained that Italy belongs to capitalist economy along with possess high gross domestic product in terms of per capita (Kefalas, 2008). Besides, Italy also bears developed infrastructure and is a populated too. It is worth mentioning that Italy is recognised to be the seventh largest economy in the world. Apart from this, European Union is also considered to be fourth largest economy in Europe. Though earlier Italy was a poor country and its economy was previously relied upon agriculture, after the period of post world war, the conditions of the nation certainly transformed into a better one. Moreover, it is also found that the unemployment rate in Italy is much high (Child & Hsieh, 2013). Social-Cultural From the social and cultural perspective, Italy is reckoned to be one of the most popular countries within the world. It is worth mentioning that the social structure of a country can become a vital issue for a company, when it tends to conduct international business outside the home country. Moreover, in terms of social perspective, Italy is ideal for conducting tourism business due to the persistence of varied historical factors within the nation. However, Italy is having little segregation in its social structure. Italy has segregated its society into several social class ranks, which explores about brief introduction relating to the social structure of the country. There are six types of social class that have been noticed in the social structure of Italy. It must be mentioned that while making entry in Italy for selling the brand of Perrier, Nestle needs to understand consumers’ behaviour towards the stated brand. From varied financial report, it can be ascertained that Nestle is being successful in providing respect to the socio-cultural aspect of various operating countries. In this regard, Nestle has launched few more products that have been quite successful in satisfying the respect of those countries (Child & Hsieh, 2013). Technology Technical domain of a country is recognised to be an important factor for growing a business in a nation. In this current scenario, strong technological base plays a decisive part in ensuring overall development of a business. It will be worth to state that without strong technological base, making of greater level of infrastructure development is not possible. Moreover, the company has been highly developed as per the technological perspective. Justifiably, the company named Nestle has made substantial investments for developing its varied product lines and services (OFarrell & Wood, 1998). However, in this modern day scenario, Italy now initiated to develop its technological market into more enhanced manner. In this regard, Nestle can have the tendency of facing immense several problems while expanding its business. The actual problem relating to Nestlé’s business expansion process in Italy can be related to underperformance of its R&D department (Babatunde & Adebisi, 2012). Environment Environmental perspective is significant for establishing the business of an international company operating in diverse regions throughout the globe. Nestle is an international company, which operates all over 100 countries within the globe. Being a targeted country, Italy is having a sustainable growth and improvement in its ecological system. Specially mentioning, Italy remains much concerned about protecting its environment from getting polluted. In this regard, the company i.e. Nestle needs to pay utmost attention over the development of its CSR responsibility. It will be eminent to state that Nestle should improve its CSR quality while doing business in the business markets of Italy (Todeva & Knoke, 2005). Legal Italy is having a high regulatory system in its legal activities. It is found that Italy experiences strict legal obligations relating to the working of international organisations. In this situation, Nestle may face certain difficulties due to the presence of such obligations. Thus, in order to address and mitigate the stated issue, the company needs to follow all the legal guidelines that are being followed in Italy while expanding business by any company operating in dissimilar industry (Todeva & Knoke, 2005). 2.2 Porters Diamond Model Porter’s Diamond model refers to a vital form of conducting external analysis of any specific nation. It is vital to mention in this regard that before making an entry in a new country like Italy, the company Nestle should have to develop an external analysis for understanding of its different business markets. This will certainly help the company to understand about its future possibilities to gain success with respect to the selling of its Perrier brand The Porter’s diamond model fundamentally include four different conditions (Bakan & Doğan, 2012). These have been elaborately discussed in the following. Firms Strategy, Structure and Rivalry While discussing about the firms’ strategy for conducting external analysis of the targeted market i.e. Italy, it can be apparently found that initially, Nestle has decided to conduct a detailed market analysis of the respective business markets of Italy for determining the actual conditions. It is evident that the overall performance of a company usually gets affected due to improper implementation of strategies and the prevalence of extreme business market competition. It is observed in this similar context that Italy’s market structure is highly dependent over the small as well as the medium market conditions. The domestic business markets of Italy remain highly dominated by the small as medium sized companies. An intense business market competition could be apparently observed between the small- sized and medium-sized companies within the business markets of Italy. In this regard, it is expected that Nestle will face huge market risks while establishing its business (Bakan & Doğan, 2012). Demand Conditions This particular factor relevant to Porter’s Diamond Model signifies the demand conditions based on which the business of a company can attain success in future. Through detailed analysis of the demand conditions, the company i.e. Nestle will be able to understand about the actual demands of the products and/or services to be served to the potential users. More specifically, it can be affirmed that by conducting a detailed analysis of the demand conditions, the company will be able to fulfil the needs of the customers. With regards to the factor concerning demand conditions, it can be found that the business markets of Italy are sophisticated in nature. Apart from this, a huge figure of industrial buyers remains within the country. It is vital to mention in this regard that the industrial buyers are forcing the companies to make modifications in the respective products. Specially mentioning, the buyers of Italy possess the demand of quality products. Thus, Nestle requires to utilise the above stated demand conditions prevailing within Italy for providing quality as well as variety of products to the customers belonging to the nation (Mignon & He, 2008). Related Supporting Industries With the support of the prevailing supporting industries, it is projected that Nestle will be able to sell its Perrier brand successfully. The support gained from the relevant industry to the company is recognised to be much significant in maintaining its global competitive position. It is important for every country to acquire necessary resources from the existing supporting industries for developing its national market. It has been earlier mentioned that Italy’s economic strength lies in manufacturing goods by the small and medium sized firms. In this regard, it can be stated that those small and medium sized companies or firms can become the supportive industry for the big company like Nestle. As Italy is efficient in the production of industrial machineries, it can be affirmed that the business process of Nestle in the business markets of Italy is supportive in nature (Thompson & Martin, 2005). Factor Conditions Factor conditions are also regarded as a major input of a country that assists a new business to gain success in future. It is worth mentioning that factor conditions prevailing in Italy typically constitute labour, human resource and other resources such as capital. It has been earlier mentioned that Italy is suffering from huge rate of unemployment. The different factor conditions persistent within Italy mainly entail well transportation system, well-built bridges, tunnels beneath mountains and high speed railway carriage systems among others. Though these factors may play small amount of role to assist Nestle in selling its Perrier brand in the business markets of Italy, the company is required to capitalise such factor conditions for ensuring long-term sustainability (Lasserre, 2012). 3. Risk Analysis of the Business of Nestle According to the case study, the Board Members of Nestle intended to move its Perrier brand in the overseas business market for attaining superior competitive position. In this case, the overseas business market is duly considered to be Italy. Though Italy is having a good and stable political situation, still the company may face certain risks while selling the brand of Perrier in the business markets of the nation. It will be worth to mention that establishing a multinational business into a new country will require a high rate of capital, which involves numerous risks (Nestec Ltd, 2013). In this similar context, in the initial stage, the company will face the problem or the risk relating to cultural diversification. It has already been mentioned that Nestle has been operating into different countries during which, the company faced the risk relating to cultural diversification. It is eminent to state that Italy’s culture is having six different levels that can highlight about its different attributes of social structure (Miller, 1992). Specially mentioning, Nestle is having wide assortment of product lines and brands under one single brand. In this regard, Nestle is recognised to be a leading brand in the fast moving consumer goods market. Though it is regarded as a leading brand in the respective industry, the company is deemed to face certain risks while selling Perrier brand in a new market like Italy (Research and Market, 2014). It can be ascertained in relation to the above context that Nestle has faced several ethical as well as human rights issues while selling of its bottled water to the overseas countries. It is worth mentioning that due to the conduct of few unusual activities in the international markets, the company most of the times acquired small number of criticisms about its operational activities (Peng, 2008). This factor has been indicating towards the incapability about Nestle’s operational activities. In this context, the company highlights about its failure in performing as per the demand of the developing markets (Schaedeli, 2009). Certain major forces are also playing an indispensable part in developing the water supply process under the government restructured (Bradauskas, 2011). It can be apparently observed that from the previous 30 years, the demand of bottled water has increased gradually. This worked as an alternative of tap water. In this regard, the local water dealers are trying to enter in the market of packaged water drinking. Nestle is selling its products with a high rate of price (Research and Market, 2014). In this regard, in order to capture more market share, the local companies are trying to sell the packaged drinking water in comparatively lower price from Nestle. In this regard, Nestle is facing huge loss in terms of selling bottled water. It is also expected that during making an entry into the business markets of Italy, the company may face security related risks relating to the selling of Perrier brand (Vaccari & Fletcher, 2006). While analysing the risks of Nestle’s business in selling its Perrier brand, it can be affirmed that the company earlier faced numerous issues relating to labour forces. With this concern, it is evident that most of the times, Nestle has faced criticism about the disappointing behaviours of the labours. On the other hand, Italy is having a strict regulatory act over the labour issues. It will be eminent to state that Italy has imposed strict regulatory laws relating to child labour issues (Fair Labour Association, 2012). It is also expected that the inability of determining the appropriate factor as well as demand conditions prevailing in Italy to be the other major risk, which may face by Nestle during making entry in Italy for selling its Perrier brand. Though Italy possess good foreign relationship from the political as well as the industrial perspective, still there lays the probability of facing the above stated risk for the company while establishing its business initially in the respective business markets of the nation. It must be mentioned that Italy is not providing the benefits to every foreign company for establishing its business within diverse regions. As the country is having several strict regulations relating to making entry of any business in its domestic market, it is also expected that Nestle will be facing several risks relating to its business process. In this regard, there is a huge chance of facing huge loss by the company while conducting its business in Italy. It is important to state that the company requires addressing and mitigating the risks identified above for reaping several significant benefits. These benefits include increasing the profitability level and also attaining superior competitive position as compared to others (Vaccari & Fletcher, 2006). In terms of risk factor, it can be affirmed that Italy is not having sufficient technology to support the business operations of a company like Nestle. In this regard, that company i.e. Nestle may face a major problem relating to its business process while selling Perrier brand in the respective business markets of the nation. It will be worth mentioning that Nestle is recognised to be one of the renowned companies, which fully utilised innovative technologies for exploring demand as well as factor related conditions towards reaping several significant benefits. It is eminent to state that Nestle is such a company, which spent huge figure of money or revenue in its R&D procedure along with incorporating innovative technologies for developing its business process. On the other hand, Italy is recognised to be one of the leading players in terms of technological perspective. Italy’s technological market is comparatively less developed in terms of other European countries. Therefore, it can be stated that Nestle may face risks relating to the usage of pioneering technologies (Nestlé S.A., 2006). 4. SWOT Analysis of the Business of Nestle Nestle is regarded as one of the world’s leading food and beverage company, which deals with nutrition and wellness based products. Though this company is recognised as one of the biggest food companies in terms of revenue, still it requires adopting effective strategies for successfully selling its Perrier brand. Strengths In terms of strengths, it can be affirmed that Nestle has hold over the business of food and beverage industry by offering quality products to the potential customers. It can be apparently observed in this regard that the business of Nestle possess extensive portfolio of brewery and food products. More specifically, it can be explained that Nestle is having wide range of products under different brands. The R&D of the company is deemed to be much strong, which can be evaluated in terms of performing detailed market research before launching any new product (Cuellar-Healey & Gomez, 2013). It is also noted that Nestle invests substantial money every year for redesigning its products with the prime intention of strengthening its competitive advantage. Specially mentioning, Nestle is able to run its business in excess of 100 nations around the world. Nestle is having an extensive distribution channel and a wide geographical presence, which support in conducting its operations globally in an efficient way. Besides, Nestle is having its own brand image, which is recognised to be one of its major strengths (You Sigma, n.d.). Weaknesses Though Nestle possess number of strengths, it also have few weaknesses that are apparent in its business process. It is found in this context that most of the times, Nestle has failed to provide the equal quality of products to its potential customers (You Sigma, n.d). On a further note, at certain instances, Nestle also received few complaints relating to food contamination, damage of products and poor quality of foods supplied to the customers. On the other hand, Nestle is having weak quality of CSR implementation. Though the company has claimed to make more eco- friendly based products, still it is receiving more and more criticism about its contribution relating to CSR. Another major weakness is that the Nestle is not having proper control over its production process (Cuellar-Healey & Gomez, 2013). Opportunities In this current scenario, Nestle is expected to widen its scopes for developing its business process. The increasing demand in healthier food products is recognised to be the major scope of the expansion of its business in the business markets of Italy in the form of selling Perrier brand. The recent trends of consuming healthy food products are regarded as major shifts in the business process of the company. The start-up of wellbeing products is the major scope for Nestle, which can prove to be beneficial in expanding its product portfolio (You Sigma, n.d). Besides, Nestle is currently involved in conducting several successful partnerships with the major market players such as Colgate-Palmolive and Coca-Cola. Nestle possesses quality competencies to enter into a new market like Italy and develop its presence in the emerging markets. Due to having a wide range of popular products in its product line, the company has the prospect to ensure its long-term sustainability in the respective industry (Cuellar-Healey & Gomez, 2013). Threats Food contamination has been the major threat for Nestle, as most of the times the company is unable to provide good quality products to the customers. Though Nestle is having the responsibility of quality checks, still it received more complaints about its deliverance of poor products. On the other hand, the rising process in the raw food materials will certainly make an impact over the lower revenue price of the company (You Sigma, n.d). Besides, with rapid transformations in the economy as well as the political situations of several countries, Nestle can face several risks within its business process. The fluctuation in the exchange rates is also recognised to be one of the most vital barriers for Nestle in the context of conducting international business (Cuellar-Healey & Gomez, 2013). 5. Recommendations Based on the above analysis, it can be found that during establishing business in Italy as a form of selling its Perrier brand, Nestle is likely to face several problems, issues or risks relating to its business process. Contextually, Nestle should take few initiatives to reduce several risks that arise in the operational process. Initially, Nestle will face the risk relating to cultural diversification. It is eminent to state in this regard that the culture of Italy is deemed to be much different from other European countries. In this regard, Nestle is recommended to conduct a pre-analysis for understanding the culture of Italy. The country’s culture dictates about the business strategies of the company. By understanding the culture of Italy, Nestle will be able to implement and plan its strategies for developing the business procedure (ACCA Global, 2008). On the other hand, Nestle is also recommended to pay focus over developing few products that possess Italian flavour. In this regard, it is vital to mention that when Nestle started its business process in Italy, it should pay focus over developing food products by getting inspired from the Italian cuisine. Justifiably, Nestle should transform its coffee style normal in to espresso flavour. Suggestively, the introduction of new Espresso flavour in coffee will increase the possibilities of Italian people of getting connected with the Nestle products. In addition, Italy’s business operational activities are highly influenced with sustainability. In this context, Nestle is suggested to develop its corporate social responsibilities to maintain its operational activities much smoothly (Schaedeli, 2009). Political uncertainty cannot be eliminated by Nestle, rather it must be managed through the application of various effective as well as proper strategies. In order to maintain the business policy of Nestle efficiently, the company should have to adopt a new strategy of making strategic alliances. In this regard, Nestle is recommended to make strategic alliance with a popular food company of Italy. Contextually, Nestle is suggested to get merged with a world famous and largest branded chocolate and confectionery manufacturing company named Ferrero SpA. It is expected that by coming into an agreement with Ferrero SpA, Nestle will be benefited in terms of eliminating risks relating to political and business purposes (Todeva & Knoke, 2005). There are few recommendations that have been provided to Nestle for eliminating several risks that are associated with its business process. The major risk is also associated with the procedure associated with supply chain management. The food production company should have an effective and strong supply chain management in its operational process. In this regard, Nestle has been suggested to create its supply chain management in a very effective manner. Nestle is suggested to diversify its supply chain management by spreading its product to all the suppliers. This factor can enable effective establishment of Nestle supply chain management (Todeva & Knoke, 2005). 6. Conclusion From the overall discussion, it can be ascertained that Nestle is regarded as the world’s most popular food manufacturing company. By reviewing the entire study, it can be apparently noted that the Board Members of Nestle decided to sell its Perrier brand in the business markets of Italy. Though Italy is recognised to be one of the strong and well structured economies in Europe, still it faced several problems in its business process. In order to analyse the external environment of Italy, various aspects including PESTEL analysis and Porter’s Diamond model have been taken for discussion. It is worth mentioning that by evaluating the PESTEL and Porter’s Diamond Model, the company can be able to understand the prevailing market conditions in Italy. Though, the nation is a rich economic and its economy is highly dependent over industrial development, still it is having high rate of unemployment. It is also observed that Nestle is having a huge chance of facing huge figure of problems relating to conduct business within the business markets of Italy. However, the company Nestle is recommended to adopt few strategies relating to international business management within its business procedure. Apart from these, the company is also advised to adopt the strategy relating to strategic alliances with numerous other companies within the geographical regions of Italy. Conclusively, it can be concluded that Nestle must perform its own internal analysis, which includes SWOT examination. Through the conduct of SWOT analysis, Nestle will be able to understand about its own pitfalls as well as the strengths that can aid in raising profits. In this regard, it is recommended that the company must adopt several significant strategies to make an entry within the respective business markets of Italy for selling its Perrier brand. 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