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Business Strategy Level 4 Regent College

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INTRODUCTION

Strategy is considered as a sort of plan that can be developed in a way that can further help in increasing the overall rate of operations (Grewal, Bart and Zubcsek, 2016). The actual forte of these strategies is that the business and the organisation can be able to succeed, thus they can also become capable of attaining a great competitive position, thus it can help them to achieve higher popularity as well as productivity rate. The report is about analysing the factors because of which Venus Mobile have been affected badly it has affected the overall performance of the business. Also, it includes the internal and external analysis of Venus. The evaluation of the strategic options along with some strategic recommendations have also been included in the report.

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External analysis of Venus

The external analysis of Venus can be analysed using the PEST framework. Discussing various aspects of the same using the framework as under :

Political factors

The political factors may include various aspects such as the political unrest etc. due to which Venus has to face major changes (Staykova and Damsgaard, 2015). Some well-known political factors can include improvements and modifications in the free trade policy, so this can be considered as an opportunity for Venus. There can be political orders regarding tax revenues etc. as well. In the case of the expansion of Venus Mobile in some other area or country, the company may have to follow the tax regulations of that specific country. If Venus fails to do the same, in that case, they may have to pay huge penalties. So, the political factors can have positive as well as negative impacts as well. Also, free trade policies can also help Venus to make expansions in other parts of the world as well. This will in turn increase the popularity as well as the productivity rate of Venus Mobile. Therefore, it is very important that the company follows all the political factors in an effective and appropriate way so as to avoid any further complexity.

Economic factors

Usually, some changes in the economic factors in the mobile industry can prove quite beneficial for Venus. Some well-known and common examples of it include the increased growth rate of developing countries. Also, by these means, Venus can become able enough to have some maximization in the overall revenue rates. They can achieve this by the means of increasing the overall sales in the international markets. When Venus Mobile has an efficient expansion in other countries or areas, then it is obvious that it will help Venus Mobile in an increased rate of economic stability. Also, they can have high economic rates as well after involving all the economic factors very effectively. Therefore, Venus Mobile should focus on each economic factor whether it is beneficial for the company or not. And if in case, it is not beneficial, then the company can involve various ways that can actually help the company to stay away from issues and can achieve a high productivity rate.

Social factors

The social factors associated with it can involve consumer behaviour along with their expectation (Ghezzi, Cortimiglia and Frank, 2015). It is obvious that various advancements are going on these days in the mobile industries, so Venus can grab this opportunity by introducing a new range of features in their products and services. Also, in these ways, Venus Mobile will be able to get the attention of various customers. Thus, they can gain numerous satisfied customers which further proves beneficial in increasing the productivity rate of the company.

Technological factors

There are observed enormous number of technological advancements worldwide. So, Venus Mobile can also try to make the involvement of some advanced technological features by which they can be able to gain a large number of satisfied customers (Yang and Silverman, 2014). Some well-known examples of the technological advancements which Venus can involve include cloud computing, integration of the technology etc. So, Venus Mobile can ensure involving each factor in a way that it can turn out to be beneficial enough for the company, whether it is about satisfying the customers or improving their popularity and image in the marketplace. These can be considered as ways that can actually attract a higher rate of customers, which is good for maintaining a higher position in the marketplace.

Internal analysis

Company internal analysis is the most crucial and necessary analysis for the company (Dixit and Skeath, 2015). They always need to acquire some methods and techniques to grow or take some advantage for the organization. Along with that, it will also very much essential for the Venus company to overcome from the challenges. The internal analysis brings new changes and new quality of work this was the effective working process. Through company can also take some corrective action plan in order to take some advantage to make proper company planning. There is some analysis factor of Venus which brings the new effective process of working.

Purpose: The ultimate purpose and objective of the company which makes effective process make effective processes. Business purpose defines the business objectives and customer service (Escobar, 2018). Venus needs to maintain a productive nature plan and effective process through they get attract customer focus. The purpose of the company should be customer service and maintaining quality services. Venus is a service-based mobile company. They need to keep the mobile quality best and most effective. This purpose identifies the company's strengths and weaknesses.

Resources: it is another process of internal analysis which describes the company's quality services or products. Such as to maintain the company image in the market, Venus needs to acquire the best mobile equipment for their finished goods. This gives better services to the customers. Moreover, internal management needs to be perfect and qualitative (Grant, 2016).it is the responsibility of the organization to make sure about the product and services and their product.

Employees: it is another internal factor which might create hurdles and challenges for the company. Due to a lack of skill and knowledge company would face low market share and profit revenue process.

Customer relationship management: customer relationship management is the most required task for the venue, due to low customer attraction company faces low market sales. Customer relations is the more competency level to get the new image in the market.

Financial resources: it is another internal factor which has to be perfect and stable. Financial stability is required in the organization to fulfil the operation needs of Venus. Due to low financial resources this makes a negative impression on the overall activity (Johnson, 2016). It also requires understanding the new technology and investing a good amount of funds in business activities.

Operational functions: it is another internal factor that will improve the business activities. Besides, it is also very much required for the company to make effective and productive operation activity. Due to improper activity of process, this may have negative effects on business growth.

Marketing function: it is the most distinct function of the organization that helps to promote company products and services. It requires adopting productive marketing strategies to grab the attraction of customers (Kim and Mauborgne, 2014). Due to low impressive products and services, customers will not be interested in buying products. It gives a negative impression of the nature of products and services.

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SWOT analysis of Venus

SWOT analysis can help in analysing the factors of Venus and also discussing its strengths, weak points, threats it can face and various opportunities that can come. The framework has been discussed as under :

Strength

One of the important factors of Venus mobile is that it keeps involving various ways so that they can involve more innovative products. As it has an enormous number of competitors in the marketplace, it is important that Venus keep involving some effective and major factors. Also, the design and technology features, they make use of are impressive enough. The company stays updated of all the advancements in the technological features, whether it is about storing the data and information because the generation of today wants to have these features as they want to have an efficient experience in gaming and also in storing the data and information. Therefore, this can be considered as an effective option that helps Venus Mobile to get the attention of the customers.

Weakness

Although it uncompresses of a variety of new features, but still somewhere the company is still not able to provide efficient satisfaction to the customers. It is because there are some applications of Venus that seem quite incompatible with the other applications of the phone. Also, it has been observed that a variety of people are facing issues with it as well such as hanging the phone for a longer time, heating up of the battery etc. so, here Venus can be considered quite ineffective in producing the required productivity rate along with satisfied customers. So, these can be considered as some weak factors of Venus, which the company should ensure resolving so that the company might not have to face any such factor as a barrier or challenge.

Opportunities

As there has been an advanced requirement of mobile phones and services, this can be termed as an opportunity for Venus. Now, they can achieve this by involving a completely new set of products and services which must be something different from the previous ones. Also, it should involve every new and advanced feature as well. It is because involving a completely new and modified version of the same can help in gaining the attention of the customers along with a great rate of satisfied customers as well. The market is growing very widely, so it is obvious that there is a huge need of mobile companies that can be able enough to fulfil the requirements of the customers, so Venus can grab this opportunity by involving a different and efficient range of products and services. By this way, it will help them in gaining a higher rate of popularity as well as productivity.

Threat

As the competition is growing on a wide basis, every single mobile company is trying to gain involvement in different ways and strategies that can help them achieve the interest of a huge number of customers. So, this can act as a threat to Venus mobile. The rate of market penetration is growing on a higher basis, so there are fewer chances of any one company to get the attention of customers. To cope with the market penetration rate, it is important that Venus mobile can achieve the loyalty and trust of the customers by providing them an appropriate range of products. It is important because if the company has gained the trust and loyalty of the customers then it can actually help their focus to stay maintain with the company. Thus Venus mobile can ensure to involve some strategies and techniques so that they may not have to overcome any such threat that can affect their business and productivity rate. 

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Strategic Evaluation

There are various factors of the strategic evaluation and these are discussed as under ;

Strategic Planning: this is the strategic planning in which managers evaluate the company strategies, manager can also make predictions from their own experiences. This process is very much productive in case of project certainty. Venus is required to assess the control of the planning process in order to evaluate negative activities (Mendelberg, 2017. ). Productive planning provides a better strategic plan for the company development process. In order to evaluate strategic evaluation Venus needs to acquire evaluation factors to measure the best productivity level.

Consistency: Venus needs to acquire alternatives and substitute planning and strategy to achieve business objectives and goals. The manager needs to evaluate the consistency level of strategies to ensure better advantages and objective goals.

Validity: it is another tool of evaluation which makes a good process of learning and doing business projects. This makes good things in order to evaluate the best process things (Nagle, Hogan and Zale, 2016). Assumptions behind strategic options must be valid. This may include a business environment plan. It helps to implement better opportunities and plans. Assumptions also include competitors, customers, suppliers and how they will react to alternatives. Validity gives assurance and marketing goals in order to hold business opportunities and growth. To get sales high company needs to acquire the best business opportunity in terms of a better implementation plan. In order to measure the viability of strategy evaluation, the company needs to analyse the competitor's position and price strategy in order to set its own pricing strategy (Scholes, 2015). It gives a better opportunity to grab better career options to the company in terms of most required target market goals. Competitors are the major factor that affects the company through their new innovation and their new market growth. In order to grow business activities company needs to acquire the most effective source of income in terms of the best opportunity. For getting the best productive growth company needs to make sure about their best effective source in order to get the business activities.

Feasibility: it is another evaluation process of making a good task process. Strategy may in theory be capable of delivering a business vision, mission, or goal but in practice, it must also be feasible. The strategy must have the capability of achieving the company's objectives and goals. Businesses must be capable of doing things in a positive manner. It also helps to make good possibilities in terms of grabbing business opportunities (Slack, 2015). Feasibility helps to measure company financing, resources, assets, experience, culture and skills to carry it out. Moreover, it also very effective and requires goals to make sure about new processes of learning.

Business risk: it is another strategic evaluation process of making strategies more productive and impressive. Business risk also helps to evaluate the best technique process to evaluate uncertainties and risk factors in the organization. Venus needs to acquire the most effective resources in order to get the most impressive advantage. This strategic evaluation process helps to evaluate risk in order to minimise the potential risk (Waddington, 2014). The main aim of the strategic evaluation of risk to identify the potential risk to maintain the level commensurate with the anticipated return.

Flexibility: In today's changing business world. A strategy must have enough flexibility to work if circumstances change (Waddington, 2014). The flexibility factor enhances the new creativity and makes the strategy more productive and effective.

 

Strategic recommendations

There are various factors that can be involved in order to ensure some sort of improvements in the same. Some of the well known factors that can be recommended to Venus are discussed as under :

Globally

            Venus is already dealing with some issues because of which the company has resulted in poor performance and along with that, it has not been even able to achieve their objectives as well. So, Venus can ensure some facts that can help the business to achieve its objectives at a much higher rate and also they can be able to gain a satisfied amount of customers as well. So, for that Venus can keep their focus on localised markets. Also, they can involve various strategies by which they can be able to expand in foreign markets as well. To accomplish that, Venus can analyse and understand the culture and other factors of the market in which the company is deciding to expand.

Business

            While considering the business aspect, Venus can ensure that they involve very possible strategies and techniques that can help them to cope with competitiveness in the marketplace. It is because there are various competitors of Venus mobile that are trying to involve an enormous number of strategies and techniques in order to achieve a great competitive level in the marketplace. Some very well-known examples of the competitors of Venus mobile are Apple, Samsung etc. So, to cope with the competitiveness of the rivals and competitors in the marketplace, Venus mobile can ensure to involve various strategies and techniques.

Marketing

            For the successful marketing and sales of the products and services successfully, Venus can ensure pre-promotional activities such as by means of various factors such as social networking websites, advertisements etc. By such means, the people can be able to know about the new products and services involved, so it can also help in increasing the marketing rate of Venus as well.   Also, Venus can be involved in various strategies and techniques that can be used for better marketing. It is important as well because, by such means, they can be able to gain a wide range of satisfied customers, which further helps in maximizing their productivity to achieve the targets and goals.

Manufacturing

            Venus mobile can ensure the fact that as there are a variety of competitors in the market place, so for dealing with the same, they can involve some new factors in their manufacturing process so that apart from the other brands, they can perform something different that is able enough to attract the attention of the customers. Also, they can take some feedback from the customers about what they want. It is because the needs and requirements of people are changing day by day. There are other mobile companies that involve some features that seem attractive and new enough to the users. This feature somewhere affects on the popularity and productivity of the other companies. So, Venus can ensure taking proper feedback and ideas from the customers. By such means, the customers will also ensure that they are important to the company. It further helps in maintaining their interest in the company and this is a positive feature for Venus. Therefore, Venus can consider these factors while manufacturing the products and services.

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CONCLUSION

From the basis of the above discussion, it can be concluded that the company strategy is more productive and creative which makes the company more efficient. The present report is based on a strategy of Venus Mobile company it is the mobile organization which provided the best quality of services for some years. They get down their sales revenue due to some quality issues. The present report discussed the company's situation and internal and external analysis of the company in order to measure its market situation. It is also very necessary to make productive plans for the company to make new product sales. Besides, it also discussed the external analysis in which it discussed political, legal, environmental, social and impactful factors. In terms of getting a good market strategy. Further, it also discussed the company's strategic evaluation through which they can easily get an effective strategic position. Moreover, it also discussed strategic recommendations for giving the best company evaluation. Further apart company needs to enhance their quality and services towards their target market customers.

REFERENCES

  • Ghezzi, A., Cortimiglia, M. N. and Frank, A. G., 2015. Strategy and business model design in dynamic telecommunications industries: A study on Italian mobile network operators. Technological Forecasting and Social Change. 90. pp.346-354.
  • Grewal, D., Bart, Y. and Zubcsek, P. P., 2016. Mobile advertising: a framework and research agenda. Journal of Interactive Marketing. 34. pp.3-14.
  • Martínez-Pérez, B., De La Torre-Díez, I. and López-Coronado, M., 2015. Privacy and security in mobile health apps: a review and recommendations. Journal of medical systems. 39(1). p.181.
  • Staykova, K.S. and Damsgaard, J., 2015. The race to dominate the mobile payments platform: Entry and expansion strategies. Electronic Commerce Research and Applications. 14(5). pp.319-330.
  • Yang, Y.T. and Silverman, R.D., 2014. Mobile health applications: the patchwork of legal and liability issues suggests strategies to improve oversight. Health affairs. 33(2). pp.222-227.
  • Dixit, A. K. and Skeath, S., 2015. Games of Strategy: Fourth International Student Edition. WW Norton & Company.
  • Escobar, A., 2018. The making of social movements in Latin America: Identity, strategy, and democracy. Routledge.
  • Grant, R. M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
  • Johnson, G., 2016. Exploring strategy: text and cases. Pearson Education.
  • Kim, W. C. and Mauborgne, R.A., 2014. Blue ocean strategy, expanded edition: How to create uncontested market space and make the competition irrelevant. Harvard business review Press.
  • Mendelberg, T., 2017. The race card: Campaign strategy, implicit messages, and the norm of equality. Princeton University Press.
  • Nagle, T. T., Hogan, J. and Zale, J., 2016. The Strategy and Tactics of Pricing: New International Edition. Routledge.
  • Scholes, M. S., 2015. Taxes and business strategy. Prentice Hall.
  • Slack, N., 2015. Operations strategy. John Wiley & Sons, Ltd.
  • Waddington, C. H., 2014. The strategy of the genes (Vol. 20). Routledge.

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