STRATEGIC MANAGEMENT TYPES OF KEY SUCCESS FACTORS TECHNOLOGY-RELATED KFS\'s Scei
ID: 427476 • Letter: S
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STRATEGIC MANAGEMENT TYPES OF KEY SUCCESS FACTORS TECHNOLOGY-RELATED KFS's Sceintific research expertise (important in such fileds as pharmaceuticals, medicine, space exploration, and other "high-tech" industries Production process innovation capability Production innovation capability Expertise in a given technology MANUFACTURING-RELATED KFS's Low-cost production efficiency (achieve scale economies, capture experience curve effects) Quality of manufacture (fewer defects, less need for repairs) High utilization of fixed assets (important in capital intensive high fixed-cost industries) Access to adequate supplies of skilled labor Low cost plant locations High labor productivity (important for items with high labor content) Low-cost product design and engineering (reduces manufacturing costs) Flexibility to manufacture a range of models and sizes/take care of custom orders "DISTRIBUTION-RELATED KFS's >A strong network of wholesale distributors/dealers >Gaining ample space on retailer shelves Having company-owned retail outlets Low distribution costs Fast delivery MARKETING-RELATED KFS's A strong network of wholesale distributors dealers Available, dependable service and technical assistance Accurate filling of buyer orders (few back orders or mistakes Breadth of product line and production selection Merchandising skills Attractive styling/packaging Customer guarantees and warranties (important in mail-order retailing, big ticket purchases, new product introductions)Explanation / Answer
Key Success Factors applying to the trucking industry
(a) Technology - Low emission technologies, greater fuel efficient engines and aerodynamic design of vehicles makes the products more competitive and efficient to meet the needs of the users.
(b) Manufacturing - Improved productivity, reduced wastages and reworks, flexibility of operations to make a variety of vehicles in a given facility, low cost high quality manufacturing systems add to the efficiency and competitiveness.
(c) Distribution - Efficiency in getting to the market and making the vehicles avilable to all customer segments with a well lined up network and higher influence with multi brand retailers may give competitive advantage.
(d) Marketing - Understanding the market and prepare the collaterals and promotional material, ensuring length and breadth of SKUs, executing warranties and ensuring customer communication may lead to higher custoemr satisfaction.
(e) Skills - Ability to get the pulse of the market, identify potential for right type of vehicles and providing the customers what they want.
(f) Organisational capability - Strong think tank and leadership team keeping a view of market dynamics to come up with decisions that are aimed for a greater market share and higher customer satisfaction.
(g) Others - Creating an instant brand connect with the customers and be the first choice when it comes to choosing a trucking product.
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