HI6006 Convergence and Divergence in Consumer Behavior Assignment Sample

• Subject Code : HI6006
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• Subject Name : General Accounting and Finance

Contents

Question No 1:

Question No 2:

Question No 3:

Question No 4:

Question No 5:

Question No 6:

References:

Competitive Strategy - Question 1

General environmental forces affect all the companies existing in the industries and not just one company. The General Environment elements that affect the future of the German luxury car industry are:

1. Economic: There is a rapid transformation in the mobility economy. The megatrends of sustainable growth, urban planning, individualization, and digitization need and allow for broad advancement in technical and social mobility. Two Friedrich-Ebert-Stiftung (FES) initiatives in 2010 and 2014 addressed in depth the complexities of change in global transport markets and the problems that arose for the German automotive sector. These developments have now become apparent in an accelerating process of entirely new qualitative problems. This begs the question of if and under what circumstances it will continue to function not just of the more developments and the organizationally oriented cultural adaptations confronted by this economic field. In this context, the emphasis is on added value, jobs, and social security problems in the regional car clusters and finally, the Federal Republic of Germany's overall economic resilience. Factors such as inflation, deflation, GDP from several countries, which target the brand itself, people's earning capacity, and people's ability to consume the same product and the same cars of luxury (Rovigo, 2019).
2. Social: The future of German luxury cars also depends on the social environment the way people see their social class and how they want to distinguish themselves from other people in society has an impact. For instance, when talking about the cultural factors of Herzberg, a large number of countries such as the UAE and Spain have a distinguishing role that means that they need to be recognized, have more status, and have more success and so their company advertising is also influenced by these social dimensions.
3. Technological: In conclusion, the growth of these industries and luxury cars also plays an important role in technological factors. Increasing numbers of electronic features and smart automobiles are being introduced as the automotive industry develops. So technological growth and factors would also affect the future of the same.

Competitive Strategy - Question 2

David Jones is Australia's leading retailer. In all fashion, beauty, food, technology, and homemade items, David Jones offers customers high-quality products and services internationally. The Salesforce ecosystems offer customized, unique, and intuitive customer experience while enhancing sales and enhancing relationships with existing and new clients. And multi-person relationships to continuously utilize this solution by more team members across Beauty, Designer Shoes, Accessories, and Wear. AI can be seen through its collaboration with Carat and Amnet advertising agencies to launch the online advertising campaign. David Jones needed a creative Christmas campaign that would attract a broader public at a risk that he would grow in his capacity to reach new customers. Carat and Amnet launched a video publicity campaign on David Jones as the # 1 Christmas shopping destination below online advertisement. Each ad aimed at addressing the heart of Australian ownership by demonstrating how David Jones products can contribute to the 100-degrees way that potential buyers make Christmas, whether they do it at 34 ° (furry jumpers) or make it dressed up. "Every ad goes to what makes Australian Christmas so different," David Jones could do anything you do. Carat and Amnet launched a video publicity campaign on David Jones as the # 1 Christmas shopping destination below online advertisement. Each ad aimed at addressing the heart of Australian ownership by demonstrating how David Jones products can contribute to the 100-degrees way that potential buyers make Christmas, whether they do it at 34 ° (furry jumpers) or make it dressed up. "Each ad goes into what makes Australia's Christmas unique by saying," David Jones is always able to do what you do. Despite the many challenges it faces to make key customers happy, the company has worked relentlessly on innovative and different marketing campaigns. The question of departmental stores, which David Jones' executives demonstrate internationally on the principle of compliance with the basic principles of the business to provide customers with the value of the notion behind DJs that there is no one like them.

The DJs also announced the national introduction of David Jones Rewards, the new loyalty program. David Jones Rewards honored his offer by offering a traditional Marketing loyalty program that invited customers to a different world of special offerings. Its outdated customer satisfaction plans are to be ensured. David Jones brought Deloitte to build a new Amazon Connect and Salesforce Service Cloud platform. It enables agents to resolve customer queries successfully through the timely provision of relevant information. The visible assistant now identifies and matches your phone number with the Salesforce profile when you call David Jones. The visible assistant will welcome you by name if you compare your number with your profile successfully. The visual assistant then determines the cause or purpose of your call with the use of natural language understanding. A range of selected products for customers in Sydney DJs are available. The client can order the product at a desk in a local office in the morning and collect it in the true store. DJs always focused mainly on providing specialist in-store information and launched their ever-growing new programs with a focus on Customer Relationship Management (CRM).

Competitive Strategy - Question 3

Political

In considering any business strategy the analysis of the political environment within which decisions must be taken is important for an organization. Regulation, government positioning, trade agreements, and policy should be considered. Halls worth and Evers have examined the barriers often encountered by internationalization in companies like Wal-Mart, the 'responses of local rivals, and regulatory mechanisms of host or target countries' which have often impeded global development strategies.

Economic

About all retailers considering global growth, the strategy on which their actions are based must be aligned with the market conditions. Based on the terms of the market, certain strategic choices are to be developed and its economic development is understandable in Wal-Mart’s case. Much in line with China's five-year economic growth plan, Wal-Mart’s entry strategies were.

The increase in China's GDP, which shows the economy's performance, provided Wal-Mart with an important opportunity to expand its growth, customer base, and profit maximization, with a population of more than 1.334.296 million people in China. Wal-Mart was able to build foundations to expand its network by aligning its entry strategy with those that were already on the market...

Wal-Mart has been able to use labor pools already present in the retail sector without incurring startup costs by implementing a joint venture entry strategy. Similarly, China's staffing size allowed Wal-Mart to significantly reduce the costs of capital investment. The abundant supply of labor in China means that companies can choose manual processes rather than automated processes and still save money. A fundamental aspect of understanding the economic setting was also expressed by Hornblower.

Technological

Technological innovation is also a factor to be addressed when developing a strategy for the entry into an unknown external environment. Wal-Mart aimed to gain a competitive advantage over other retailer companies when entering the Chinese market by introducing innovative marketing measures and implementing cost reduction methods. Control of the supply chain and outsourcing, for example. A strategy like this is essential to explain the global expansion of Wal-Mart, as 'technological innovation represents about 60% of Wal-Mart's growth.' (Mithas et al., 2013)

At the same time, Wal-Mart also introduced "advanced retail technology and China experience" and advanced "China's standards and development for retail industries," which helped it manufacture cheaper products, offer innovation, control the supply chains and fulfill consumers' demands. One example is the introduction by Wal-Mart of electronic shopping and "reordering from office to business," which has led other companies to imitate such technological development that both efficiently and at the lowest possible cost provide the needs of Chinese customers .. Wal-Mart was able to gain control and add value to specific areas focusing on customer communication/knowledge as its core competence in China through adjustment of both internal and external strategies.

Competitive Strategy - Question 4

Competitive Issues of General Electric

General power company (GE) has a generic strategy that ensures the growth of the conglomerate in global markets alongside an intensive growth strategy. The generic strategies of Michael Porter will develop and sustain the competitive advantage of companies. In this case, we are using our generic energy, oil and gas, aerospace/aviation, transport, health care, and electrical lights strategy for competitive advantages On the other hand, the intense growth strategy of an enterprise is used to support business growth and sustain it. General Electric, for example, relies over the years on diversification as a serious protein. Despite changing economic conditions and competitive challenges, the combination of intense strategies used in GE's business facilitating continuous growth in the light of competition such as 3 M and Siemens. These strategies strengthen the resilience of the company as one of the world's largest diversified companies. Nevertheless, General Electric's intensive strategies and generic competitive strategy have to remain relevant to industry situations for long-term growth and competitiveness in its industries.

Competitive Strategy - Question 5

The five most common challenges of a successful acquisition are:

• Integration challenges: This is the most common challenge that organizations face when making acquisitions. It concerns culture integration and changes integration. The workplace gets ruined when the cultures of the two organizations are not incorporated. When Starbucks acquired Seattle Coffee Co., the group failed to overcome problems by ensuring the legitimate integration of the organization later on.
• Challenge with regards to paying the right amount: Often companies will generally be overpaying while going for acquisitions. It is a test to pay the perfect sum, as the conclusion of a deal is difficult. The sales organization (or the procured organization) constantly seeks to increase sales costs. Starbucks was accused of paying a large sum for the acquisition of Teagan by its shareholders (De Mooij & Hofstede, 2002).
• Challenges with regards to estimating synergies: Companies are committed to fusions and acquisitions to make cooperative energy. Cooperative energies occur when whole parts are more prominent than the whole. In the interests of acquisition organizations, it seems difficult to decide the right measure of cooperative energy.
• Challenges related to exogenous risks: Acquisitions are often tested for moves in the economy, the business, and innovation as well. At the point when Starbucks acquired La Boulange, the company saw a change and customers wanted to spend some funny things. This is why Starbucks had to shut down all La Boulange free zones. Today La Boulange’s results are sold in its cafés in any way.
• HR-related challenges: These relate to the organization's advantages, compensation, and union contracts. It will also include movements identified with discharges (if any) as well as challenges which are identified in keeping employee morality high.

Competitive Strategy - Question 6

The quality of leadership is an important determinant of the success of an organization, which reveals large business investments in leadership-oriented initiatives. Better overall organizational performance, such as high customer satisfaction, organization productivity, financial profitability, and product quality, is participated in organizations with powerful leaders (Glisson, 1989).

Below are the most Important Leadership skills and responsibility;-

1. Self-development - Self-development may also involve setting a time every week to priorities what you want to achieve in the next week.
2. Team development - Just as important as the development of your team members is, today a leadership approach that involves developing partnerships with employees is adopted by some of the most successful manages.
3. Strategic thinking - Leaders must look at how best to achieve results that exceed their expectations for the people they serve.
4. 4. Ethical practice and civic-mindedness - The organization usually dictates ethics and civility through written guidelines and practices that managers should learn from and refer to periodically.
5. Innovation - Leaders must create an environment where people are mentally safe, see how things go, even fail. They need to try something new.
6. The clarity in communication & action- One of the main responsibilities of leadership is to communicate and act clearly and concisely by the leaders. To inspire their followers, their vision must be very clear. A leader who helps employees and subordinates set clear targets and ways to measure progress with time is currently in the scenario. They ensure that they clear the right content to create authentic learning in the workplace through proper delivery channels.
7. Showing Humility - While confidence is a very appealing responsibility in managers, it needs to have a humble character for creating an amiable environment in the company. At the same time, a leader needs to know the employees' balance between work and life. Enable your employees to free themselves from further activities to avoid being overwhelmed. In the current case, a manager supports his employees and his dependents in providing informal relations to uphold human values in the organization. We know that employees are comfortable with someone who has a connexion to their concerns.
8. Showing Courage- Daring is a virtue for a strong presence in an area. A leader should be afraid to play his role in ensuring his opinion on welfare and the evolution of followers. In this current scenario, a leader represents a variety of issues with courageous support and development through direct media and legal platforms.
9. Inspire by setting an example- A leader should be the one who guides his followers on regular and significant issues. In the present scenario, a leader leads his way through example-like work, responsibility, and care, etc. in the organization's regular activities.
10. Follow the team strategy- The team spirit and strategy in organizational behavior also have the most important responsibility.

Like Jack Ma today's leader, he follows the same principle to meet an organization's shared objective of creativity and innovation by using lean six sigma’s and other means, set strategic priorities, evaluate processes, share key results and report on conditions.

References for Convergence and Divergence in Consumer Behavior

Rovigo, D. (2019). Positive politeness strategies used by Jack Ma in the World Economic Forum;'Meet the Leader'Session (Doctoral dissertation, UIN Sunan Ampel Surabaya).

Glisson, C. (1989). The effect of leadership on workers in human service organizations. Administration in Social Work, 13(3-4), 99-116.

De Mooij, M., & Hofstede, G. (2002). Convergence and divergence in consumer behavior: implications for international retailing. Journal of retailing, 78(1), 61-69.

Mithas, S., Tafti, A., & Mitchell, W. (2013). How a firm's competitive environment and digital strategic posture influence digital business strategy. MIS quarterly, 511-536.

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