Create a hypothetical organization offering product /service of your choice. Ide

Question

Create a hypothetical organization offering product /service of your choice. Identify a real potential competitor in the market.

Name your product/service as well as organization.

Write the mission and objectives.

Scan and assess the external environment to determine the strategic factors that pose opportunities and threats.

Scan and assess the internal corporate environment to determine the strategic factors that are Strengths (especially core competencies) and Weaknesses.

Analyze strategic (SWOT) factors to (a) pinpoint problem areas and (b) review and revise the corporate mission and objectives, as necessary.

Generate, evaluate, and select the best alternative strategy in light of the analysis conducted in step 5.

State how you are going to implement selected strategies via programs, budgets, and procedures.

State how you are going to evaluate implemented strategies via feedback systems, and the control

of activities to ensure their minimum deviation from plans.

Explanation / Answer

As per the question, my hypothetical organization name is “Superb Health Drinks Private Limited” and the product is Superb Health drinks. We will be operating in the food and beverages industry. It is competing with the existing brands like Horlicks, Boost, Complan, Bournvita, Nutramul etc.

The mission of the organization is to become the best health drinks company catering to every individual need with organic ingredients only and thereby creating a healthy society.

The objectives of Superb Health Drinks are to acquire the market share with high-quality health drinks which will nourish the people and keep them healthy.

After scanning and assessing the external environment, the strategic factors that pose opportunities and threats to my company are competitors, local people acceptance to a new brand, the authenticity of the brand and the product, political factors, economic conditions which will determine the price, strategies for global expansion etc.

After scanning and assessing the internal corporate environment, the strategic factors that are Strengths (especially core competencies) are the quality of the product, its usefulness, does not contain any harmful ingredients, the symbol of purity, highly experienced professionals, strong distribution network, strong investor support, skilled employees and management etc. The weaknesses are not competing with competitors with prices or promotional strategies as we think we have a competitive advantage of using organic ingredients. Price is higher as we are providing quality products and am afraid that everyone cannot afford it.

Analyzing the strategic (SWOT) factors the problem areas are the high price, tough competition and political and people support. After reviewing the SWOT factors, there is no requirement of revision of mission, vision, and objectives as they are already aligned with it.

The best alternative strategy for their implementation strategy in light of the analysis conducted in the previous step could be lowering the price of the product initially and operating at the break-even point rather than focusing on profits. The promotional strategies should be visual advertisements very often in all the regional and national languages so that it is highlighted everywhere. The initial expenses on promotion will be more, availability of the products should be ensured in all stores and supermarkets. The implementation should be faster as the competitors might come up with new ideas. The focus should be on organic products with health concerns. Providing facts about nutrients, vitamins and its usefulness with doctors, nutritionists in screen will be helpful.

Evaluating the implemented strategies via feedback systems, and the control should be financial as well as non-financial like growth and financial indicators along with the increase in demand, absorption of products, realizing the brand and feedback from direct customers and seeking suggestions for improvements in the product.

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