Context: The assessment of this subject supports students in developing their skills and knowledge in topics that include environmental assessment, problem diagnosis, strategy development, and cultura
Introduction
Pro go pty ltd is small private manufacture company which produce high quality action cameras located in Victoria since 2004.
Due to rapid growth of innovation, many phones in the market has started to capture videos in high quality like normal camera does which makes all camera production company future in danger. So, CEO of the company is really worried about declining market trend of the product. Therefore, he has asked all stakeholder of the company to develop an idea or strategy which can lead their product to sustain in market over 5 years and discuss in meeting and come up with best ones.
Aim
The aim of this report is to critically analyse the macro environment of the company, find out the issue and proposed new strategy plan to sustain in changing market trend by considering cultural and ethical contexts over next 5 years.
Discussion
After effective meetings with all stakeholder and analysing current market changing trend . I as a General Manager of company, I focused on more on change management technique and come up with under 3 best strategy option to sustain. They are :
Generate interest of customer by dealing cameras with accessories and upgrade product frequently to meet changing market trend.
Promoting our brand worldwide by finding new market and new customer, investing more in customer acquisition, hire brand ambassador, start shipping our camera across world by using multiple online platform and more focus on advertisement through media and word of mouth can generate interest of customer towards of our product.
After deep understanding of today’s market, it is equally important to upgrade and release new model like apple, pro go cameras need frequent upgrade to increase its value and more accessories like camera stand , camera protector, and so on. for example : upgrade lens line-up with EOS R mirror less model like apply upgrade each year (Tim, 2019).
Applying value proposition method - to increase its value.
The core of a sustainable business depends on its sustainable value proposition which create value for multiple stakeholders such as costumer, supplier, employee, shareholders as well as environment and society. Therefore, sustainable business model has ability to go beyond increasing innovation so as to bust operational and technological efficiency (Baldassare, Calabretta, Bocken, and Jaskiewicz, 2017).
3. Using lean strategy can help on waste management and reducing total costs which ultimately gives continuous improvement of business.
Using lean strategy helps to improves its profit by reducing costs. By controlling stock in good way, decrease direct and indirect cost of company, find good and affordable suppliers and decrease overhead cost by saving energy.it mainly focus on improving company sales and revenue by reducing costs or by becoming high quality best supplier in market (Velaction Contionous Improvement, 2020).
AS an GM, my responsibilities towards my company are Collaborate with all department of the company like finance, HR, marketing, IT and so on, to maximize shareholder value and the long-term sustainability of the company, focus on company grow, improvement and innovation and Report to CEO. My main focus on long term growth of this company and profit and Increase prices of our product and service correctly without hampering reduce in sales which can be done with upgrading the lenses and accessories. To apply my proposed strategy there will be lot of challenge need to face such as long term and short-term issues
Short term issue: Huge investment, cooperate with all stakeholder willingness, hard to change , lot of research on new model, finding new location and new market.
Long term issue: Threat of competitor and mobile technology, less investment but more sales, need to update and ready for new model.
References
Baldassarre, B., Calabretta, G., Bocken, N. M. P., & Jaskiewicz, T. (2017). Bridging sustainable business model innovation and user-driven innovation: A process for sustainable value proposition design. Journal of Cleaner Production, 147, 175-186.
Tim, H . (2019). How Canon, Nikon and other Japanese camera companies are fighting for survival in the Smartphone era. Retrived by
https://www.cnbc.com/2019/07/26/japanese-camera-companies-fight-for-survival-in-the-smartphone-era.html
Velaction Contionous Improvement,.(2020). Retrived by
https://www.velaction.com/velaction-continuous-improvement/lean-solutions/lean-strategy/#:~:text=Lean%20Strategy%20%3D%20Corporate%20Strategy,responsive%20supplier%20in%20its%20market.
