The Executive Of The Abc Company

One frequently asked question in business today that is least answered is, as stated by David Chaudron, PhD (2003), “What can we do to make our business flourish, survive and grow?” With the rapid changes in technology and the rise in the globalization of markets, we must have a game plan in place for adjusting to these changes. It has become increasingly difficult to predict what is going to happen, and there are thousands of obstacles and opportunities along the way. To add to the confusion, there are thousands of products, solutions and methods for dealing with these changes. With many brands, sizes and varieties it is very difficult to choose what is best for your organization. Add to that,

The team should do this by seeking to know the progress of their competitors. The trend of the competitors would help to understand the markets they are serving, the existing gaps, the planned products and pricing strategies. At this stage in the product life cycle, the company might consider to engage in expansion. Before making the decision to expand, it is critical to ensure that the company gets into something that will differentiate it from its competitors. Looking at competitors will help the team know some of the strategies they used when faced with similar situation and even avoid making mistakes. Any new product launched should build on what the previous product did better and bring about an improvement.

6 – Products and consumer perceptions are variable, so changes in strategy may be required to better address customer needs, technological developments, new laws and regulations, and the overall product life-cycle. By monitoring external conditions and shifting product development accordingly, a company can better target its consumers and learn to react to their needs.

Due to the growing competition and diminishing market share, companies are opting for different strategies to achieve their survival objectives as well as growth. Companies are thus executing grand strategies to provide their businesses with a clear direction for its strategic actions. These strategies, therefore, aim at both short term and long term sustainability and growth, and they include innovation, market development, product development, and concentration.

The above matrix shows that four categories for growth based on a group of expanding products and markets. In each category presents different opportunities, risks, and finding for Lancer Gallery. In developing new markets or products " The imitated artifacts the buyer of imitated artifacts products who use the products for decoration and fashion” that will be resulting in a higher risk than increasing market share in Lancer Gallery existing markets. In diversification category, the company is not just developing new products but targets new markets is the riskiest.

This is with the understanding that our new product is classified as a Star (high growth, high share business or products. They need heavy investments to finance their rapid growth. Eventually their growth will slow down and they will turn into cash cows. Chapter 2) on the Growth Share Matrix (A portfolio-planning method that evaluates a company’s SBUs in terms of market growth rate and relative market share. Chapter 2). Initially, in the introduction stage (The PLC stage in which a new product is first distributed and made available for purchase. Chapter 9) Anchor Alert will require larger amounts of funding to support the initial start-up fees, product productions, and building the early marketing, which will eat into initial

The company would support a fivefold expansion by developing yearly goals and how much profit should be saved to future investments in property or equipment. With this plan, a percentage of the profits will be placed in an account that will be invested in stock to bring in greater revenue. We will have financial planners that will help us invest in safe stocks to prevent against loss. The company will also look into diversifying into different industries to prevent again loss as

The Chief Executive Officer of Kosmos, Brian .F. Maxted stated that, their plans for such investments is anchored on the present outstanding performance of the Jubilee Field saying the current field deliverability is substantially above the FPSO capacity [66]. The FPSO has the capacity of processing 120.000 barrels of oil and injecting more than 230.000 barrels of water and 160 million cubic feet of gas per

Diversification: Developing new products in new markets can be a riskier strategy given the unproven market place. However, if innovation is a business value it may be worth the risk as long as you understand what’s at stake.

Next disadvantage is that market pioneers will face market and technology uncertainties, which is a primary reason of failure for startups. Lastly, a shift in customer’s needs is required in order to create demand for the market pioneer’s new product or

Product diversification is a feasible way to obtain growth through new products. The company can use existing product knowledge to develop the brand into new lines to increase exposure and use similar technology to increase synergies. Leveraging off an existing well-known brand to a market that is familiar with the brand will also increase the possibility of success while maintaining lower marketing costs in

External factors are described as the initial resources (material resources and the facilitating conditions to start a new business in the area) and the existing economic environment (the number of firms operating, the ability to launch a new business and the commercial culture of the area). Companies' strategies will face the increasing competitive environment. They are required to provide specialized services and products, higher quality and collaboration to meet higher requirements. The solution is to grow, to innovate and provide diverse products and services; Market conditions represent the demand for provided products and services; without a need or a customer, there won‘t be a commercial initiative to see an opportunity in the area resources. Related and supporting industries describe the factors

The first major way in which a company can grow is innovation and taking risks. Innovative processes will help the company in which a company can grow because the innovative processes of company are able to create new markets. The example of the innovative processes of a company is introduction of new products or services because it can be the process of the existing market collapse. Also, innovative processes will be with taking risks. A company must take the risks when they do innovative processes because it is no wonder that businesses should bear a greater risk for greater profits. On the other hand, it is difficult to find the momentum of growth by preventing change and creating new opportunities when companies are avoiding risks.

Investing in research and development to create new product line or enhance current products adds considerable expenses. Development costs will need to be re-cooped. This will keep competitors in check, but will be challenging to keep pricing competitive.

            Other environmental influences, such as competition, may fuel the company’s desire to create more and better products that could well determine their location and standing in the global market. Increase in the number of competitors for the same line of products may mean that there