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Different Strategy Formulation Processes of Pro-go Ltd

University: University of Cambridge

  • Unit No: 5
  • Level: Post Graduate/University
  • Pages: 8 / Words 2085
  • Paper Type: Assignment
  • Course Code: MGT604
  • Downloads: 45
Question :

This assessment will cover the following questions:

  1. Critically examine how strategic management and core competencies can build and sustain competitive advantage indifferent Pro-Go Pty Ltd.
  2. Critically evaluate different strategy formulation processes utilised by organisations and evaluate thererelevance to particular Pro-Go Pty Ltd.
  3. Develop and plan the implementation of a selected strategy for different organisational levels including for change management processes Pro-Go Pty Ltd.
  4. Consider the external environment of an organisation and analyse capabilities that can enhance potential market opportunities and manage risk in Pro-Go Pty Ltd.
Answer :
Organization Selected : Pro Go Ltd

INTRODUCTION

In the past month it has been found that the cameras manufactured by Pro Go Pty ltd. are not working properly. They are bursting it into flames without any fault been found in it. Due to this the largest customer of Pro Go Pty ltd. operating in China has cancelled contract. Moreover, there has been a rapid downfall in sales within 24 hours (Cascetta  & et.al.,  2015). The organization is not given any reason behind it. they are unable to find cause of problem. Hence, the management has decided to take immediate action in order resolve issue. for this a white paper will be developed that contains strategies and policies regarding development of products. Every area is being investigate and a team is formed that will work upon implementation of policies. It will also describe what actions or measures are to be taken to solve such kind of issue in future. At last some recommendations are given that can be followed by Pro-Go Pty Ltd which will be beneficial in developing long term plan. Furthermore, it is discussed that what next steps will be taken to progress for future.

AIM

To take an immediate action by developing strict policies

DISCUSSION

A white paper is a draft that consist of number of polices related to different things. The policies are formulated to provide guidelines on how to implement change, develop product, solve issue, etc. (Keeler & et.al.,  2015). 

The employees have to work accordingly so that goals are attained. Stakeholder play a vital role in this. They give suggestion and participate in formulating policies. also, they ensure that policies are implemented successful and monitors it.

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Every business faces several issues related to quality of product, customer satisfaction, etc. they have to be solved so that business can grow and develop in market and sustain for long term. Moreover, if issues are solved in effective way, it can result in failure of business. But in order to solve problems a proper policy is required. This is because it consists of certain standards that is followed. By following of policy cause are identified and actions are taken. Furthermore, policies are developed for future so that in case of any rise in issue measure are taken quickly.

Pro Go Pty ltd. is a small firm that produces high quality cameras. The company has grown rapidly in past five years. they also manufacture smartphone and other devices. but in recent time complaints regarding problems in cameras has increased. The video cameras known for their superior quality and use are not working in proper way (Alexander  & et.al.,  2016). There has been a major disruption occurred in which many cameras burst into flames. The company was not able to give proper reason behind this. They were unable to identify the root cause of problem. Due to this there was decline in sales. Therefore, they decided to develop a white paper. It consists of certain policies that will be strictly followed. In addition it gives an overview on what action is taken and in what area. Here, three themes are described on which policies will be formed. They are as follows:-

1. Technological advances- it is the most significant theme that has to be considered. Due to technological advancement Pro Go Pty ltd. also have to modify their products. it is necessary that innovations are analyzed and implemented so that it does not lead to failure. There should be a systematic structure through which it is done. The change management has to be applied in step by step manner. therefore, several policies are developed regarding use of technology. Furthermore, company emphasizes on innovation (Tisherman  & et.al.,  2018). So, they have to ensure that faults are detected and removed. The policies will set a base through which innovation can be done.

  • The advances in technology will be analyzed. Also, it pros and cons will be identified and then only the products are redesigned accordingly.
  • A proper testing system and procedure will be developed. The change in features of products made will be tested and approved by experts. Then, only it will be launched in the market.
  • For use of each type of technology certain criteria will be formulated in policies. this will be easy to implement it in device and controlling it.

An effective training system and programs should be developed and employees are provided training. By this employees’ skills and abilities are improved and it is ensured that quality of products is maintained (Meyer  & et.al.,   2017).

  • Before implementation of any technology a risk assessment will be done by managers. This will be useful in determining threats and developing back up plan to take actions.
  • There must be evaluation done on products and process that are modified. It will be beneficial in determining errors.

2. Connected devices – the company also produces devices like mobile, laptops, etc. that can be easily connected with camera. It is done to increase sales and profits. Also, company uses high quality battery for cameras. Thus, it is required that policies are developed to ensure there are enough resources to available. Devices that are connected has to tested.

  • Only some specific devices will be designed with camera. The specification and configuration of devices will be developed by experts. It will be tested as well to determine its efficiency with camera.
  • It will be ensured by manager that devices used are updated within a particular time and maintained. there will be change in

3. Adjacent products / markets – the company operates in different markets. They have segmented market on basis of reliability and ruggedness (Boucher  & et.al.,  2017). It is very important to select an appropriate target market so that products are developed accordingly.

  • Policies has to be formulated for each one so that any technological advances measures are taken. For each product and market, a different policy is required. By having this, it becomes easy for company and employee to follow it.
  • Here, policy will be developed related to each market segment that what type of product is produced.
  • for occurrence of any faults a team must be formed and investigation is done. The factors or reasons are identified and improvements are done.
  • The adjacent product of each market must be same. The standards of applying change for each market is different.

By forming of policies in these areas it will be easy for Pro-Go Pty Ltd to take appropriate action about failure of products (Dahabreh  & et.al.,  2016). in addition it will provide guidelines that should be followed. Other than this, immediate steps can be taken to solve issue. the formulation of policies gives defined process or methods that must be followed. With this, it will be easy for company to analyze any changes. The policies are a framework through which activities are performed. it shows what roles and responsibility employee is assigned.

The policy also determines authority and accountability of person. It defines who is responsible for whom. There are many other ways through which policies can be used in context to arise in issue by using framework it will be easy for Pro-Go Pty Ltd to develop strategy to solve issue. it enables in making changes in design of products. in case of any health damage due to incident company can take legal action against person. They will operate efficiently in different markets. with effective strategies management can guide in right direction. The overall future plans are developed on basis of policies. Pro-Go Pty Ltd will compare their cameras with competitors and changes are made in features of devices.

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CONCLUSION

It is been concluded that to solve issue a proper policies are developed. this will be beneficial in ensuring that standards are followed in producing product. Moreover, Pro-Go Pty Ltd is focused on certain themes that is technology advances, connected device, etc. in this there are many policies developed for each area. The implementation of policy enable company to design products accordingly. It is summarised that with formulation of policies issues will be minimised. also, the quality of products will be improved. the queries and problems will be identified and solved. Pro-Go Pty Ltd can gain trust of customers by ensuring that product is safe to use.

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RECOMMENDATION

Apart from formulation of policies it is necessary to execute it properly so that changes can be done as per requirement. Moreover, policies should be monitored and evaluated in specific time period. There are many recommendations that can be followed.

  • In order to progress in future, Pro-Go Pty Ltd can ensure that policies are followed throughout product development. The problems will be solved quickly and in effective way. besides this, company will get an insight that what measures are to be taken and in what case (Marcucci,  Gatta,  & Scaccia, 2015).
  • The company can make high level changes in their products. they should investigate about causes of occurring of any issue and improve it.
  • In future if there is any change in technology then policies can be modified. It can be done by following a particular process. It will ensure success of Pro-Go Pty Ltd. the cameras designed can be modified in systematic way.
  • Top management must renew policies according to change in technology or target market. this will give an advantage to company to design and develop their products.
  • The risk assessment must be conducted every three months so that strategies are prepared and risk is mitigated. It will be beneficial in developing long term plan.
  • The testing system should be modified and updated. It will enable in effective testing of devices and cameras.

What are the next steps?

Pro-Go Pty Ltd can implement a test system and evaluate technology advances whether it can be used for devices or not (Cascetta  & et.al.,  2015). Moreover, a completely new camera and mobile phones can be produced. It will be useful for them to gain trust of customers. they can also target new market by entering in different segment. Quality assurance measures should be set so that it will enable in measuring quality of devices. With it, company can ensure that high quality devices are manufactured as per standards developed.

What is required to progress into the future?

In order to gain satisfaction of customers Pro-Go Pty Ltd needs to test their devices before launching them into market. besides this, policy must be renewed with change in external factors. there should be effective training programs organised. New and experiences employees must be hired. Management must create short term goals and objectives. It will benefit in growing at slow rate but constantly.

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REFERENCES 

  • Alexander, L. V & et.al.,  (2016). Implementation Plan for WCRP Grand Challenge on Understanding and Predicting Weather and Climate Extremes–the “Extremes Grand Challenge”. Version, June.
  • Boucher, H. W & et.al.,  . (2017). White paper: developing antimicrobial drugs for resistant pathogens, narrow-spectrum indications, and unmet needs. The Journal of infectious diseases. 216(2). 228-236.
  • Cascetta, E. & et.al.,  (2015). A new look at planning and designing transportation systems: A decision-making model based on cognitive rationality, stakeholder engagement and quantitative methods. Transport policy. 38. 27-39.
  • Dahabreh, I. J. & et.al.,  . (2016). Recommendations for the conduct and reporting of modeling and simulation studies in Health Technology Assessment. Annals of internal medicine. 165(8). 575-581.
  • Keeler, L. W. & et.al.,  (2015). Linking stakeholder survey, scenario analysis, and simulation modeling to explore the long-term impacts of regional water governance regimes. Environmental Science & Policy. 48. 237-249.
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