Aurecon Market issues Assignment PDF
Added on 2021-04-21
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Running head: AURECON MARKET ISSUESAurecon Market IssuesName of the Student : Choy Kai YoonStudent ID : S3625479
AURECON MARKET ISSUES1Table of ContentsProblem Statement Analysis............................................................................................................2GAPsfromAssignment1................................................................................................................2Part 1: New Theories.......................................................................................................................4Blue Ocean Theory......................................................................................................................47 S Model.....................................................................................................................................4VUCA Analysis...........................................................................................................................6Literature Review-PEST analysis....................................................................................................7Political........................................................................................................................................7Economic.....................................................................................................................................7Social...........................................................................................................................................7Technological..............................................................................................................................8Conclusion.......................................................................................................................................8References........................................................................................................................................9Appendix........................................................................................................................................10
AURECON MARKET ISSUES2Problem Statement AnalysisThe problems faced by Aurecon in the recent times are greatly the result of the differentfactors affecting its overall market scenario of the organization. the different problems likeemployment and training issues along with the different problems faced by the organizationrelating to the market competition and the different aspects of the workforce challenges faced byAurecon. The implications of Aurecon’s needs to innovate new strategies and focus on a numberof different issues for the overall application in the market for its sustenance. The entry of anumber of global firms in the market greatly affects the overall performance of the organizationas it has to take into account the feasibility of the different strategies in the market (Pisano 2015).Rising competition from international firms like PWC, KPMG and Deloitte have forced thecompany to work on a number of different strategies for the innovation of new measures tomitigate the issues faced by the organization. The different macro-environmental analysisnegates the influence of the employee's problems and the cut-throat competition that is bringfaced by the organization due to increasing globalization in the country. The various analysisalso fails to take into account the lack of the various firms to spend a larger amount of money onthe services of the consulting firm. The globalization is bringing in a large number ofcompetitors where the competition is becoming cut-throat, and the minimalistic pricing strategywill not help the cause of Aurecon's growth. The different methods like 7s analysis and theVUCA analysis will help in the understanding the problems faced by Aurecon which wereoverlooked in the previous assessments. The Blue Ocean strategy helps in the understanding ofthe importance of the different strategies for the overall success in the market. The differentinnovative strategies need to be tested for the feasibility of their approach in the improvement ofAurecon’s market share.GAPsfromAssignment1In the Assignment 1 PESTLE analysis of the organization has been conducted tounderstand the external factors and its impact on the organizational objectives. Porter 5 forceanalysis is also a similar tool to understand the way external forces impact upon the organizationand its business process. However enough emphasis has not been provided to mitigate the threatsthat have been detected. External factors are ever-changing and PESTLE analysis is not equipped
AURECON MARKET ISSUES3to track the changes. The external factors and their influences are largely based on assumptionshence there can be certain mistakes. Factors like Political and Social elements cannot be changedby the company hence the analysis would not help much. Porter 5 force analysis, on the otherhand, does not provide a dynamic view of the external forces that are acting on Aerocon. Porterintended to utilize the tool not for a single company but for the industry as a whole. However,presently most people use the tool for analyzing singular companies. This has been done in thecase of Aerocon as well. Therefore, these can be regarded as some of the major gaps in externalanalysis.In the case of the internal analysis SWOT and VRIO analysis has been done. SWOTanalysis elucidates the strengths and weaknesses of the company, which has overlooked the caseof employee satisfaction in the analysis. Artificial Intelligence has been shown as a threat, whichmay well be utilized as an opportunity to improve the business process of the organization.AdditionalResearchThe additional researches that will fill the gaps of the existing research are 7S framework,Blue Ocean strategy and VUCA model.The McKinsey 7S framework would inspect the impact of changes in the company in thefuture and would provide a dynamic view of the changes. This framework helps in determinationof the best strategies for the implementation of the proposed solutions and changes. Blue Oceanstrategy helps in eliminating the competition and establishing a newly developed fertilemarketplace for the company by inducing demand. The blue ocean theory was first devised in abook called "Blue Ocean Strategy" by W Chan Kim and Renée Mauborgne(Blueoceanstrategy.com 2018). This will help in eliminating the gap that does not provide thesolution to the excessive competition that harms the business of an organization. The VUCAmodel explores the uncertainties and helps the management in determining what are the possibleactions that can eradicate such ambiguities and uncertainties from within the organization. In thecase of Aurecon, there are uncertainties about employability and market competition. VUCAanalysis throws light on the overall business environment of the organization and detects thevolatility, uncertainty, complexity and ambiguity within the system (Riehemann 2016).
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