Case study of Strategic Management - New Balance

Of Strategic Management - New Balance - Case Study Example SO strategies use a firm's internal strengths to take advantage of external opportunities. WO Strategies aim at improving internal weaknesses by taking advantage of external opportunities. ST Strategies use a firm's strengths to avoid or reduce the impact of external threats. WT Strategies are defensive tactics directed at reducing internal weaknesses and avoiding environmental threats." (David, 180-181) In order to understand the external environment of the Company it is important to undertake the PESTLE analysis, which is as follows: Political: Decrease in demand due to unstable political situation. Economic: Imposition of Tax or quota from the Government on the major players of market in order to avoid monopoly in the market. Socio-cultural: The population of U.S is getting more conscious about the problems related to health. Any product accused of effecting health of the people can lead to the loss of market share. Technological: Achievement of advanced technology by the competitors resulting in shape of economies to scale. Legal: Legal actions against the company as a result of disease due to the raw material production in unconventional manner. Environmental: The Company can face environmental threat because of the Agro-terrorism. New Balance currently maintains a well-qualified and teamwork-minded staff who is dedicated to innovation and excellence in workmanship. This is a significant resource for a business, which relies on domestic manufacturing facilities as a means of cost control. In many respects, the company maintains quality human resources focus which, in the event of excess capital availability, could drive high-quality, low-cost training to minimize complications with labor. Different manufacturing capabilities give them a...Opening the doors for public trading, as had previously been considered by ownership, would raise the capital required for a variety of projects and investments, both internal and external. Additionally, the company does not experience high media visibility, a crucial element of the entire New Balance philosophy for the general public. These issues are currently a threat to New Balance long-term stability in a business environment where competition is fierce and growth is obtainable. "The Threats-Opportunities-Weaknesses-Strengths (TOWS) Matrix is an important matching tool that helps managers develop four types of strategies: So Strategies, WO strategies, ST Strategies, and WT Strategies. New Balance currently maintains a well-qualified and teamwork-minded staff who is dedicated to innovation and excellence in workmanship. This is a significant resource for a business, which relies on domestic manufacturing facilities as a means of cost control. In many respects, the company maintains quality human resources focus which, in the event of excess capital availability, could drive high-quality, low-cost training to minimize complications with labor. Different manufacturing capabilities give them a modest competitive edge in terms of issues of supply chain, however this edge could potentially be lost in the event tha

Sky broadband Essay Example | Topics and Well Written Essays - 2500 words

Sky broadband - Essay Example In theory and practice, IMC strategies are aimed at combining or integrating the elements of the communication mix, such as advertising and public relations in order to create a balanced and consistent marketing communications message that strengthens the brand. IMC, if managed correctly gives an organization a competitive advantage because of its cost effectiveness and its ability to maximize the impact of its product and services development and the communication of the organization's messages within the marketplace (Ireland, 2002). There is no shared definition of integrated marketing communications in the scholarly literature, but the tenets of IMC have been adopted by businesses globally, and scholars do agree on the theoretical underpinnings of the IMC model (Kitchen, Schultz, Kim, Han, & Li, 2004). The literature offers some outlines for conceptual frameworks that can guide agencies and organisations to ensure an effective implementation of an integrated marketing communications program (Kitchen, Schultz, Kim, Han, & Li, 2004). According to Fitzpatrick (2005), "... According to Fitzpatrick (2005), "one of the defining features of IMC is that it uses all forms of communication and all sources of brand or company contacts as prospective message delivery channels. The ultimate goal is to influence buying behavior through directed persuasive communication targeted to a broad range of stakeholders that influence brand image and organizational reputation" (p.94). Scholars and practitioners of marketing communications believe that the increase in the number of communication channels, media fragmentation, segmentation of consumer preferences, sophistication of consumer databases and analysis, and importance of relationship building to strengthen brand image has forced institutions to consider and adopt a more sophisticated, strategic, and integrated marketing communications effort (Kitchen, Schultz, Kim, Han, & Li, 2004). Integrated marketing communications has evolved from a concept of bundling all of an institution's communications in order to speak with one voice, to a strategic management effort that utilizes detailed consumer information to develop relevant communication (Kim, Han, & Schultz, 2004). Kim, Han, and Schultz (2004) stress the need for organizations to speak to their consumers with an integrated approach because today's consumers are not dependent on organizations to provide them with information. Technology has helped to fragment the current media environment and to increase the speed of information gathering. The result is that consumers are able to integrate their product information consumption without the aid of the organization. In addition to message integration, effective IMC must be supported by marketing budgets and appropriate staffing, skills, and