Scenario: Maria is considering operating a local business in the beauty and cosmetology sector in the island of Trinidad. She has completed research into the operations of similar businesses locally and intends to market and sell her products initially at the local level, with the possibility of extending at the regional level in the near future. Maria understands that to shape the business's overall strategy there are various strategic drivers both internally and externally which must be considered and wants expert advice on these drivers relevant to her business. She is also struggling with deciding on the best structure for the organization, as well as the most effective ways of marketing her products to ensure that they are more attractive to buyers than the current options. She is considering a strategic alliance but is not sure if to form links among non-competitive firms or associate with firms in an unrelated activity. Maria is aware of internal and external tools which businesses use to understand the operating environment but is unsure which ones are feasible for her business or will provide the most relevant information. Whilst Maria has a lot of ideas, she recognizes the need for help to ensure her success. As a Strategic Consultant, you are required to provide some guidance to Maria by responding to the following questions:
Scenario: Maria is considering operating a local business in the beauty and cosmetology sector in the island of Trinidad. She has completed research into the operations of similar businesses locally and intends to market and sell her products initially at the local level, with the possibility of extending at the regional level in the near future. Maria understands that to shape the business's overall strategy there are various strategic drivers both internally and externally which must be considered and wants expert advice on these drivers relevant to her business. She is also struggling with deciding on the best structure for the organization, as well as the most effective ways of marketing her products to ensure that they are more attractive to buyers than the current options. She is considering a strategic alliance but is not sure if to form links among non-competitive firms or associate with firms in an unrelated activity. Maria is aware of internal and external tools which businesses use to understand the operating environment but is unsure which ones are feasible for her business or will provide the most relevant information. Whilst Maria has a lot of ideas, she recognizes the need for help to ensure her success. As a Strategic Consultant, you are required to provide some guidance to Maria by responding to the following questions:
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Recommend with justification an appropriate structure (from the structure types
provided below) for Maria’s business. Illustrate the structure graphically.
b. Identify one (1) limitation of this structure, whilst suggesting one (1) way to
mitigate it.
structural types: functional, multidivisional, holding, matrix,
transnational, team and project
Transcribed Image Text:Scenario:
Maria is considering operating a local business in the beauty and cosmetology sector in the island
of Trinidad. She has completed research into the operations of similar businesses locally and
intends to market and sell her products initially at the local level, with the possibility of extending
at the regional level in the near future. Maria understands that to shape the business's overall
strategy there are various strategic drivers both internally and externally which must be considered
and wants expert advice on these drivers relevant to her business. She is also struggling with
deciding on the best structure for the organization, as well as the most effective ways of marketing
her products to ensure that they are more attractive to buyers than the current options. She is
considering a strategic alliance but is not sure if to form links among non-competitive firms or
associate with firms in an unrelated activity. Maria is aware of internal and external tools which
businesses use to understand the operating environment but is unsure which ones are feasible for
her business or will provide the most relevant information. Whilst Maria has a lot of ideas, she
recognizes the need for help to ensure her success.
As a Strategic Consultant, you are required to provide some guidance to Maria by
responding to the following questions:
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON