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Marketing strategy in the competitive environment
Marketing strategy in the competitive environment
Marketing strategy in the competitive environment
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Gap Analysis: Global Communications Changes in the telecommunications industry have made it a very competitive environment where only the most aggressive companies with market advantages can survive. Global Communications has suffered from this competitive environment and needs to come up with strategies to support a change to assist them in becoming profitable again. The executive management team has decided on some significant cost-cutting measures and international marketing strategies that will help them achieve profitability in the near future. Without these strategies, Global Communications will face inability to rebound in the industry. But, such rapid decisions could have negative implications on the company, especially since Global Communications neglected to involve a key stakeholder in the decision making process. Technologies Workers Union, a stakeholder who represents the technological call center employees, disagrees with Global Communications in their strategic goals, and they believe that there were not fair negotiations. The union considers that by Global Communications becoming a global organization and opening call centers in Ireland and India, jobs in the United States will be eliminated. An ethical debate has arisen because of the societal impacts this could mean to the United States and international markets and the displacement of workers. More importantly, Global Communications needs to reconsider their strategies, get the appropriate and necessary buy-in from all stakeholders, and analyze the outcomes of these strategies to ensure a successful endeavor. Situation Analysis Issue and Opportunity Identification Global Communications faced challenges in the telecommunications industry due to a competitive marketplace where their competition had out placed them by providing more services to fit the changing needs of their clientele. Local, long-distance, and international market telecommunication carriers were all competing for business, and Global Communications soon realized in order to stay profitable, they needed to start by providing combined packages to their customers, and expanding their business ventures globally. At this point Global Communications' stock had depreciated over 50% in three years due to their lack of competitive initiatives, so the executive team wanted to identify opportunities for them to return to profitability. Some of their considerations were to globalize by increasing international marketing efforts and becoming a full-service global company. To decrease operating costs, the company is proposing to relocating some of the technical call centers to India and Ireland reducing call handling costs by 40%, and supporting their vision of being an international corporation. When Global Communications' senior executive team met to consider the possibilities of returning to profitability, they did not include a key stakeholder, Technologies Workers Union, in their discussions.
Organisations can no longer choose if they want to engage with stakeholders or not; the only decision they need to take is when and how successfully to engage.
The world we live in today is going through enormous changes in economics, technology, culture, politics, etc. The effects of the changes are not so clear, since it is hard to predict how each sector would affect the other and how society will be affected. However, analyzing past and present occurrences provides some information for experts to interpret society’s reaction in the future to different transformations. Globalization can be seen as a process in which societies around the world come together and expand through the combination of different forces. This paper will explore the effects of globalization on US companies, US society and economy, and the implications for other countries in the post-industrial world.
The definition of stakeholder is “ Any group or individual who can affect or is affected by the achievement of the organizations objectives.” (Freeman, 1984). Three stakeholders that have been identified are old employees (50s-60s), young employees, and shareholders. These three stakeholders could be affected the most by the CEO’s decision.
As it was back then, money and greed are driving forces in the world today. Getting the most profit possible is always one of the main focuses of any company. Even today there are many ways that companies cut costs that don’t benefit their employees. For example, many American companies outsource jobs to factories in other countries where the laws aren’t as strict and the labor is less expensive so they can make a greater profit. When...
Americatel is positioned within the small to mid-sized market in the telecommunications sector. However, their primary competitors Movistar and Claro compete within the large-sized market. With only 10% overall market share, Americatel has the potential to capture additional growth as the industry growth rate is growing at 6%. To accomplish this we recommend that Americatel own their position in the small to mid-sized market by capitalizing on their competitive advantage of providing superior customer service as well as leveraging new solutions to further drive customer satisfaction.
Effective competition is widely seen as a key to the development of telecommunications services. The ability of new telecommunications networks to interconnect fairly and efficiently with existing networks is critical to the development of competition. AT&T has undergone numerous changes since its inception in the late 19th century. The McKinsey 7 S framework as applied by Pascale is recommended to manage the changes they are facing to adopt a greater competitive presence in the global economy. In conjunction with this framework, numerous other models were applied to analyse the global competitive position of AT&T. Recommendations for a revised strategy and direction for AT&T have been made throughout this document including two scenarios of how the telecommunications industry might develop towards 2000, while outlining the impact on AT&T.
In a competitive environment where market is changing instantly, organizations are in a fix to design a strategy that could market their products enticing the consumers to buy their products and services. Market is the arena for business gladiators who fight out for maximum share and profitability and this is possible only through effective marketing strategy. Competing in present economy means finding ways to break out of commodity status to meet customers’ needs better than competing firms (Ferrell and Hartline, 2010). The intensity of competition has increased after the introduction of media and internet where the companies present their product in the best way through advertisements, product reviews, blog entries, etc. With the advancement in technological innovations, companies have found various ways of providing services to the consumers in a cheaper and effective way and this has resulted in communication revolution in late 1990’s as the cellular technology was unfold in most of the regions. Singtel Optus Pty Limited (Optus) is one such company that has evolved during this period as a leader in integrated communications and this paper is assumed to make an analysis of the company’s marketing strategy and its financial position in the market industry.
We have identified the stakeholders would be the customers, investors, partners (Walgreens), and employees. Theranos was an attractive new startup, and its founder Elizabeth Holmes was even referred to as the next Steve jobs so what went wrong?
Communication is the key to having a successful business. A company must be able communicate the overall plan and future goals to their employees so the employees can support the organizations goals. Global Communication's first issue was the lack of communication to the union about their need to enter international markets for the company to expand. The second issue was also a lack of communication to the union about their plans to outsource the technical call center to India and Ireland, which would in turn affect the employee's job status. They should have contacted the union president and furnished their goals to them before moving forward. This would have opened up the communication process and not left the union workers in the dark.
Globalization can not only affect a company opening an office in another country but it can affect a small local business as well. As the internet brings the world closer together it becomes far more likely that a business that opened with no intention of selling internationally will have customers form different parts of the world asking for their product. For instance a steel company located in Pennsylvania may suddenly find orders coming in from South American factories. How the steel plant chooses to handle this new international customer could mean ...
This case from Apple, a multinational corporation, shows that there are threats that are facing companies like her as they strive to set foot in global markets. The company’s fallout in terms of salaries and fair compensation is one of such threats that are expressly found in Apples case. Companies seeking global markets will need to strategize and foresee such developments to avoid such developments. Due to the diversity of global markets, the threat of failing to comply with laws in these locations is always
Globalization of the world’s industrial economies greatly enhances the value of information to the firm and offers new opportunities to businesses. Today, information systems provide the communication and analytic power that firms need to conduct trades and manage businesses on a global scale. Globalization and information technology also brings new threats to domestic business firms. This is brought on by the customer’s ability to shop in a worldwide marketplace, obtaining the price and quality information reliably, 24 hours a day. The worldwide market place brings competition to a higher level than ever before, forcing all businesses to play a part in this global economy. In order to become a profitable player in a worldwide market firms, need powerful information and communication systems (5).
For every company employees group is the most important stakeholder group. If a company has happy employees their customers will be doubly pleased.
Labor laws, wage disparities, intense competition and fluctuating currency values are the challenges that are making organizations worldwide to compete in marketplace with products requiring a great deal of labor, and it is now getting harder for some of these organizations to maintain employees abroad. As Mello (p. 610) mentioned that a greater percentage of United States workforces are moving their operations abroad to developing nations like China and leaving an increasing number of United States domestic workers without employment. The foreign markets for the products and services are not the only things enticing these organizations to enter these global marketplaces. There are other reasons these companies are joining the global market arenas. For example, the foreign labor markets, this has attracted interest in many organizations to expand globally (Gersten, 1991). The labor force growth rates in developing nations alone will continue expanding by approximately 700 million people by the year 2010, while the United States labor force will continue to grow by only 25 million. This shows that United States’ growth rate will drop and the opportunities for productivity growth rate will increase in developing countries.
University of Memphis, . (1990).Communications networks for managing global operations. (global business). Retrieved from http://www.entrepreneur.com/tradejournals/article/9267862.html