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MGT604 STRATEGIC MANAGEMENT

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Introduction

Pro-Go Pty Ltd, a private firm that is based in Geelong, Victoria produces high-quality cameras. The company was initially founded in the year 2004 and has enjoyed tremendous growth during the past few years until the previous year. The company has an excellent record of innovation with extravagant quality. The video files which are produced by these cameras are of great color and operate efficientlyeven in dim light conditions. The company also markets its products on the basis of its enhanced reliability as well as rigidity. Various technologies that are used by these devices are being patented by Pro-Go. Now the situation is that the company fears that the usability of its standalone camera in the near future will become limited as the video capturing ability is available in phones. In the mid of this there has been a disruption where the Pro-Go cameras have burst into flames and its largest customers, China is about to cancel the sales agreement. The company sales have gone tremendously down and immediate steps must be taken to make the company survive.

Aim

In this report, the focus will be shed on the emergency stakeholder meeting where the concerned related to privacy legislation, technological advances, connected devices as well as adjacent product or market will be addressed so that in future such bursting of camera does not take place

Discussion

A stakeholder meeting will be done where the entire management team and key personnel will be present. The stakeholder meeting which will be carried out would entirely highlight the important areas which are required to be addressed for taking immediate action which would help the company to survive (Lasserre, 2017). These key areas of address would briefly include the privacy legislation, advancements in technology, connected devices as well as adjacent products or markets. There has been significant disruption with respect to the sales of the product for which the company decided to a stakeholder meeting for addressing the issues and thereby formulate plans and strategies for making the condition stable.

 

 

Theme 1: Building a relationship with other retailers

·       Adjacent products or markets: There are three strategies that can be used for gaining the growth in the market which is growing business with the existing retailers or customers, growing business with the new retailers or customers and lastly, integrating the above two.

The figure below shows the four quadrants which illustrate the expansion of the business with the existing and new customers. Quadrant 1 shows the core business and the core customers which is considered as the easiest quadrant of expanding the business where there is an increase in budget (Certo, Busenbark, Woo, & Semadeni,2016). Quadrant 2 is the easiest one to sell as the relationship with the customers has already been established. The third quadrant refers to the new set of customers who would be sold similar services. The firth quadrant refers to the most difficult quadrant for selling services to the customers.

 

management information assignment

Quadrant strategy

(Source: Morschett, Schramm-Klein & Zentes,2015)

Out of the already statedthree options, growing business with the existing customers would be the easiest one and this would be the easiest approach for making sales. Due to the bursting of cameras, there has been sufficient loss in terms of money and reputation. However, the trust of the customers can gain be gained through properstrategic planning and ensuring the efficientworking of the device (Trigeorgis & Reuer, 2017). It is important to stand with them and listen to their feedback regarding the operations of the device. This is can done effectively by making the company executivesvisits the customers for getting honest opinions in terms of the working of the device. It is important to check the validation of the service provided by the stand-alone camera and if the service is not up to the mark, using proper strategies and planning the performance of the device can be set back on the track. The project managers are provided with the responsibility of handling the performance of the stand-alone camera and its growth in the quadrants 1 and 2. Along with this, it is the duty of the operation manager to understand the challenges which are currently being faced by potential customers and clients and should thereby look for new technologies that can help in gaining the trust pf the customers. The employees within the company need to be trained effectively for understanding the requirements and preferences of the customers. The skills and knowledge of the employee also needs to be increased for understating the technological requirements in the stand-alone camera.

 

Theme 2: Improvements in technology and connected devices

·       Advancements in technology: The company must make some technological advancements in the stand-alone camera which would attract the customer and regain the customer base. The standalone camera should be incorporated with new technologicaladvancementswhich can help in fostering the growth of the company and boost sales. The standalone camera which is manufactured by Pro-Go Pty Ltd has video making ability, however, there is an immediate need of incorporating a few more technologies. A 360-degree field view helps in viewing the beauty as well as recording it in a desired manner. This technology allows the full coverage of the room. Facial recognition is another technology that is largely found in phones and also be incorporated in this device which would first identify the owner of the stand-alone camera and deliver updates regarding the arrival to the desired location. This would enhance the security of the system as well (Steiss, 2019).

Along with this, including night vision capabilities in the stand-alone camera can help in clicking pictures and videos even in the dark added with moisture-resistant as well as durable exteriors which would make the camera highly efficient in clicking and recording videos in night time. Furthermore, there is also a need for unlimited battery backup with rechargeable batteries with the solar cells where the batteries are charged again with the solar energy. The most important of all these is the light field photography technology which would allow the recording of the desired portion where the focus would be shed. Nowadays voice control devices are becoming very popular. The incorporation of this particular technology along with the other can bring a drastic change in the sales and would significantly help in customer segment retention. This technology would allow the hands-free management of the camera.

·       Connected devices: The batteries in which the camera is connected comes with li-ion rechargeable batteries which are a hugerisk as this can explode at any time. The Li-ion batteries can catch up fire and cause significant damage to the people who are using it. It is important to check the safety marks of the connected devices so that beforehand precautions can be taken to minimize the risksinvolved in handling such devices. Furthermore, whenever the USB plug is connected with the socket, the voltage levels should be checked beforehand. During the manufacturingprocess, the battering and other devices that are connected to the stand-alone camera should properly undergo testing (Ginter, Duncan & Swayne, 2018).

A quality checker should be appointed by the company at every stage of the implementation process. This would help in predicting and analyzing the faults beforehand and make modifications and changes wherever required. For this, new water-based batteries can help in preventing the explosion of the batteries. However, the backup provided by these batteries is not strong enough and would require frequent charging up after 70 cycles. Thus, the batteries are an important consideration that should be taken care of during the manufacturing process as the entire working of the device depends on its efficient working capability.

 

Theme 3: Legal obligations

·       Privacy legislation: There are certain legal consideration which should be kept in mind during the manufacturing and selling of the device. There are laws and legal acts which are needed to be abiding by the company added with the environmental parameter as well as guidelines. The privacy legalization helps in promoting and protecting eh privacy of the various individuals. The privacy acts and restrictions help in the efficient commencement of business activities (Aguinis, Edwards & Bradley, 2017). The company needs to focus on a variety of taxes while manufacturing of placing the product in the market place. This briefly includes the goods and service tax, tax file number and Australian Business number. Along with this, the fair-trading laws need to be established in a proper manner which includes the pricing regulations, warranties, and refunds, codes of practice, compliance with the competition and consumer act and labeling of the product. The collection of information regarding the customer's personal information should be held under the privacy law (Noe, Hollenbeck, Gerhart & Wright, 2017). This would efficiently cover the ways in which the entire business can be handled effectively. 

Conclusion

The company Pro-Go Pty Ltd should opt for some strategies and modifications in their manufacturing process which can help in improving the quality of the products offered by them. Conducting meetings with the stakeholders and discussing strategies with them in accordance with the stand-alone camera can help in making the process much faster and more effective. Some of the recommendations have also been provided which can ensure the enhancement of the quality of the products such as the acknowledgment of the preference s of the customers, feedback and after-sales services can contribute a lot in regaining the customer base.

Recommendation

The quality of the product can be efficiently handled by identifying the preferences of the customer and keeping pace with the ongoing trends in the market, setting up effective internal communications, managing the demands within the market economy. Along with this, the required technical assistance should also be provided to the employee within the organization as well as after-sales service should be provided. Another important factor that can be recommended is feedback.

 

·       Identification of the needs of customers: This is the initial step that is recommended during the manufacturing of the product. It is very important to know the choice of the customer and thereby design the product in accordance with them. The targeted customer wants good performance over the price and hence the product should be planned in accordance with that. Furthermore, the quality of the product which is eh standalone camera should not be compromised with the price. Along with this, the company should also ensure that the product is efficient enough to deliver long term service which would eventually make both the customers as well as clients happy.

·       Establishment of effective internal communication: It is important o set up a good workplace environment where there is good communication with the individual team members. As this would help in completing the work at a faster pace and with enhanced quality. Good communication among the manufacturing team of the company helps in making the product much more efficient. There should also be two ways of communication channels.

·       Training and assistance: As the stand-alone camera are technical products and as discussed in the strategies that few technologicalimprovements are required to be done for making the product much more attractive. Thus, it is important to provide technical assistanceto the employee through training programs which would develop their skills and make themawareregarding the safetystandards and precautions taken during designing and manufacturing of the product (Morschett, Schramm-Klein & Zentes, 2015). The Do’s and Don’ts should be communicated well to eh employee and the customers who would be using the product. This would briefly include the trainingmanuals, training for customers, as well as rendering additional technicalassistance.

·       After-salesservice and feedback:The company should also provide after-sales service for the technical product as this would help in gaining the trust of the customer and ensuretheir greater reliance on the company's product. Along with this, the company Pro-Go Pty Ltd should take into consideration the feedback as the most important tool for enhancing product quality. The company should also initiate some test products and gather relevant feedback from the users. After successful testing of the product, it can be launched in the market.

References

Aguinis, H., Edwards, J. R., & Bradley, K. J. (2017). Improving our understanding of moderation and mediation in strategic management research. Organizational Research Methods20(4), 665-685.

Certo, S. T., Busenbark, J. R., Woo, H. S., & Semadeni, M. (2016). Sample selection bias and Heckman models in strategic management research. Strategic Management Journal37(13), 2639-2657.

Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2018). The strategic management of health care organizations. John Wiley & Sons.

Lasserre, P. (2017). Global strategic management. Macmillan International Higher Education.

Morschett, D., Schramm-Klein, H., & Zentes, J. (2015). Strategic international management (pp. 978-3658078836). Springer.

Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education.

Steiss, A. W. (2019). Strategic management for public and nonprofit organizations. Routledge.

Trigeorgis, L., & Reuer, J. J. (2017). Real options theory in strategic management. Strategic Management Journal38(1), 42-63.

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