BUS4101_Week 2 Discussion Pos1

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Week 2 Discussion Post Starlynn LaBeaux BUS4101 January 16, 2024 Good Evening, Class A company's internal operations, the clientele it serves, and its commercial focus are all impacted by strategic choices. One of the factors that might contribute to the implementation of change is the SWOT analysis. SWOT analysis is especially helpful since, with a little thought, it could enable you to recognize opportunities that you are well-positioned to take advantage of. Recognizing the weaknesses in your company enables you to manage and get rid of threats that would otherwise catch you off guard. You may create a strategy that will help you stand out from the competition and fight more successfully in your market by using the SWOT framework to evaluate both yourself and your competitors. Every administrative decision, from the front lines to the boardroom, is influenced by organizational strategy. Strategic plans act as a roadmap, helping businesses achieve the lofty goals set forth by their owners and top executives in practical ways. A company's functioning may be affected by altering its strategy, which can have an impact on anything from the daily routines of employees to the organizational structure. Adapting tactics can have several positive outcomes. A company may find it easier to adapt to changes in the marketplace or regulatory environment with the help of new strategic orientations. In addition to helping a company join a new, more lucrative industry or market segment, new strategies may also help it operate more profitably or efficiently. A stalling company may be able to recover its prior growth rates with a change in strategy. The following aspects may help you determine whether changes are essential for your company: Unsatisfactory Performance  Every business has objectives, and it needs to evaluate its performance concerning those objectives. An organization's main objective is to become financially stable and self- sufficient, therefore it stands to reason that if it isn't making money, it is probably not operating at its best. A company must adjust address the problem and improve its performance to a competitive level if it is not performing as planned or as expected. Encountering Unpleasant Surprises  If industry news or unforeseen obstacles often take a company and its management by surprise, there is a disconnect between the organization's understanding of the market and the reality on the ground. This is an alarming indication, and it's one of the main reasons why established businesses collapse. This necessitates a swift, decisive response. It

suggests that the company has to undergo significant change to be back in line with the market since it is not strategically positioned enough. Competitors Are Doing Better  Every organization should strive to dominate its market; if competitors outperform it, it indicates that it is not working hard enough. Smaller firms may thrive for lengthy periods in marketplaces dominated by larger competitors, but this is rarely sustainable. Any firm that wants to be in business for the long term must continually endeavor to strengthen its market position. The only way forward is to act aggressively as soon as possible, since if your market share does not gradually grow, it will ultimately begin to shrink.  Businesses make the mistake of concentrating on their direct competitors instead of keeping an eye out for possible successors in the broader business sector. Uber was not looked at by taxi drivers, Airbnb was not looked at by hotels and mobile phone manufacturers were not looked at by digital photographers. There Are Inefficiencies  A company's competitiveness and profitability are lowered by internal inefficiencies. Any inefficiencies must be fixed as soon as practical if you want to stay competitive. Unless a firm is more efficient than its competitors, it cannot stay profitable or avoid being at a competitive disadvantage. New Opportunities  New markets and niches emerge as the world changes, bringing with them new opportunities. Finding strategies to capitalize on recently found and recognized potentially profitable possibilities should be a top focus. The only rational thing to do in these instances is to cause internal change to capitalize on them. Furthermore, businesses should continuously be seeking new methods to earn by expanding into new markets. When things are going well, change should be accepted. These changes frequently present themselves during tough times, and the firm that is prepared to act when circumstances are bad stands to benefit the most. Building an army of consumer champions and improving customer retention are two key goals of Voice of the Customer (VoC). Any effective voice of the consumer (VoC) strategy starts with outreach. If your strategy is successful, you will receive all the information required to comprehend the concerns, complaints, and preferences of your clients. You will need the following items to develop a VoC strategy:  A query such as, "Why have customer retention rates for X product dropped in the last quarter?" is objective and generic. Or what are consumers' perspectives on the most recent adjustments to X's products?  Tools for collecting VoC data include survey providers and specific consumer feedback programs.

 Customer Voice Data and Feedback  A group will go over the comments and search for trends. The brand or company with which I am highly satisfied is Apple products. My choice on choosing Apple Produces is as follows: They know good usability.  When it comes to functionality, Apple understands how to create a product that is easy to use. You don't need to learn how to operate an iMac or pick up an iPhone to utilize it. Usability is a top priority for Apple when developing new products. Furthermore, Apple keeps creating devices that function well for all users even as technology develops. They keep it consistent.  If Apple has any skill, it's building a recognizable brand. They tweak, of course, but they don't change the overall tone and appearance of their marketing message. One of the distinguishing characteristics of a strong brand is that you can recognize an Apple TV commercial even before the logo appears. They have this consistency throughout all of their channels. You can anticipate the same level of customer service whether you visit them online or in person.  Regardless of the channel you choose to communicate with them, their straightforward, contemporary style and mood pervade everything they do, making them easy to get to know. They evolve.  A company has to change or run the danger of losing relevance in the eyes of its rivals. As a leader, not a follower, they are noticeable. The essential feature that, should it be compromised, would force you to switch to another brand or company's offerings is its evolution. I'm always looking forward to their newest product launch to provide something unique, novel, and new. I think that the major reason why people love Apple is because of this. The reason for this is that they provide the impression that the owner of the item is a better person. They provide a really interesting story in their marketing. It is a manifestation of style, energy, innovation, and lifestyle; why wouldn't you want to be involved? It has millions of members, much like an exclusive club. Consequently, you are sharing and emulating the values that Apple upholds when you purchase one of its products. Furthermore, nothing at all can be the cause of this. It's clear from the engaging material on their website, the eye-catching visuals in their ads, and the stylish packaging of their products. It all boils down to telling an engrossing story that will inspire your audience to get involved in everything you do.

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