Course Project - Final Deliverable

STRATEGIC PLANNING AND TEAM BUILDING 8

Strategic Planning and Team Building

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SWOT Analysis Table for MovieFlix

MovieFlix has several strengths which include; having a large selection content. This means that the company has many products in which their clients can choose from hence has an advantage over other companies in the market. In addition, the company also has a good reputation which is essential in securing a large market for their product. Another strength the company possesses is a huge market share. This advantage allows the company to have more sales than other companies in the market. This strength means that people used the company’s product more as compared to products offered by other companies, as a result, the company has the potential to increase its market size. Another strength is that the MovieFlix has a good brand name for their product. Having a good brand name is crucial especially while marketing a product hence utilizing this strength in increasing the companies market could result in greater profits. MovieFlix also has its share of weaknesses. These weaknesses include; lacking a proper strategic plan. Any company without a proper strategic plan on how to manage, market and sell its product stand a risk of getting low profits. Hence having a proper strategic plan is crucial to MovieFlix. Another weakness the existence of a weak management system. The company’s management system should be strategically formed to ensure that all staff members in the company work efficient towards the best interests of the company. A strong management system also has elaborate communication systems with which the staff can air their views and woes about the company and get fast feedbacks (Smit, 1999). Another weakness is that the company has a weak supply chain. This weakness can result in a significant decrease in income and profit. A weak supply chain does not ensure proper distribution of products to all company’s client. Failure in supply products to clients could result in loss of client hence a decrease in income.

On the other hand, the company also has a number of opportunities. These opportunities include the availability of an online market. Online markets are very crucial since the can significantly increase the company’s revenue. This is because in online marketing client does not have to go to a MovieFlix’s shop; instead, they can shop from their homes or anywhere they are through just ordering the product they want and having it delivered to a convenient location to them. The online market also gives clients a variety of products to choose from since all products will be displayed online which is not the case for shops since a particular shop can lack some products. Another opportunity is the potential to secure new markets. With the good reputation and brand name that MovieFlix has it has a high potential to broaden its markets. Through increasing the size of the company’s market, the company’s income will also increase significantly. However, getting new markets means that the company will have to increase the products its products and have a more elaborate supply chain so as to satisfy both old and new clients. Another opportunity is the potential to add new services. The addition of new services increases the chances of the company to attract more clients. For instance, offering proper packaging and delivering services for products purchased can lead to increased interest in working with the company hence resulting in the increase in the company’s income. Another opportunity is the likelihood to expand internationally. MovieFlix has a chance to expand internationally especially if it adopts the online marketing which would make it easy for the company to broaden its branches to the international level. MovieFlix also faces external threats. These threats include intense competition from other companies. The existence of other companies sharing the market with MovieFlix poses a huge threat to the company hence the company should maintain its goodwill and high-quality services to client failure to which they will move to other companies. Another threat is the volatile costs. These possess a huge threat since MovieFlix the company has to critically plan for situations where the cost of products might skyrocket. In the process of planning great caution should be taken since poor planning can cause delays which will, in turn, affect the company negatively. Another threat is the availability of substitute goods. MovieFlix’s competition offers the market substitute goods hence posing a threat of taking up market control.

Strategic Planning

The main problem in MovieFlix is the problem of competition. To come up with solutions for this challenge the management first needs to rebuild its system or make certain efforts to make their management system stronger. First, I would recommend that all employees and managers in the company first go through a two-day training. The training will be to reminder all the staff on the vision and objective of the company. Also, they will be given motivation talks on how to strengthen their management system through the establishment of an elaborate chain of command. Putting up a good communication system is also a key strategy in that will strengthen the management system since it will allow for fast feedback hence reaction on certain issues will be fast (Schein, Dyer, Dyer & Dyer, 2013). The communication system will also cater for clients through responding to their inquiries.

On the issue of regarding competition, the company will have to design or add an intelligence department which will be responsible for identifying the market parameters hence enabling the company to analyze by the market and their competition (Abraham, 2012). The department will gather information which will be analyzed hence enabling rational decisions to be made. The understanding of how a market operates is essential to any business; it enables a company to be able to make projections that will spearhead the company’s dealings in the market (Langabeer & Napiewocki, 2000). For instance, MovieFlix should try to understand what their competitor’s objective are and what strategies they are using to draw clients in the market. After this, they should find out what clients preferences. Finally, with this information, MovieFlix will be able to be able to provide customers with their wants in a better way than their competition. Also, MovieFlix should also try and maintain the client it already has as it tries to get new ones through being in constant communication with them through notifying them when new products arrive.

Exploring new opportunities is also a strategy to remain competitive in the market. For instance, MovieFlix should introduce online marketing and ensure that their clients know how to utilize this service through offering training session all around their market area. Online market will be more convenient and more reliable since clients will have a variety of product to choose from which may not be the case in store or shop systems. Online marketing also offers packaging and delivery services which are additional services hence may result in an increase in clients. Through these strategies of being more competitive in the market, client getting services from MovieFlix may significantly increase hence the company should be ready to handle the situation. This can be done by increasing production and improving their supply chains to suit the increase in clients.

Team Building

As the company’s consultant, I would urge managers and team leaders in MovieFlix to be cautious about the unspoken feelings of the employees. This can be done by avoiding things that can demoralize employees. Team building requires a leader to be more open and free with employees and also ensure that they are sensitive to the moods of the team (Dyer, Dyer & Dyer, 2013). This creates a more comfortable environment where employees feel free to go about their activities without fear of their leaders. The ideas of employees should also be considered as valuable since all ideas are viable irrespective of the whole is airing them, this also plays a major role in team building.

The delegation also plays a significant role in team building. When a manager delegates the task of solving a certain problem in the company, he/she give the team an opportunity to work together and brainstorm to come up with solutions for the problem at hand. The act of employees coming together and working with a goal of solving a problem increases the spirit of togetherness. Also to ensure team building, employees should be encouraged to share information with each other. As a consultant, I would emphasize that it is crucial that every member contributes adequately and also demonstrate to each other how tasks are handled and jobs operate since this will significantly move the entire team nearer to its goal. As a consultant, I would also ensure that communication in the company is facilitated since it is the most crucial thing in every successful teamwork. Through facilitating communication, I will make sure that every company is open to any concern, suggestion or question that may arise and also emphasize the need to offer help to individuals that may need it.

References

Abraham, S. (2012). Strategic planning : a practical guide for competitive success. Bingley, UK: Emerald.

Dyer, W., Dyer, J. & Dyer, W. (2013). Team building : proven strategies for improving team performance. San Francisco: Jossey-Bass, A Wiley Imprint.

Langabeer, J. & Napiewocki, J. (2000). Competitive business strategy for teaching hospitals. Westport, Conn: Quorum Books.

Schein, E., Dyer, W., Dyer, W. & Dyer, J. (2013). Team building : proven strategies for improving team performance. San Francisco, Calif: Jossey-Bass.

Smit, P. (1999). Strategic planning : readings. Kenwyn, South Africa: Juta.