Challenges Faced by Brooks Sports in Developing into a 1 Billion Company
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This research identifies the challenges faced by Brooks Sports in developing into a 1 billion company and suggests strategies to mitigate these challenges.
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Running head: BUSINESS MANAGEMENT BUSINESS MANAGEMENT Name of the student Name of the university Author note
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1BUSINESS MANAGEMENT 1. Introduction The different modificationsthat are commencedby the organization are dependent on the evaluation of the challenges that are encountered by the same in the different markets. In this context, the research will aim at identifying the different challenges that are being encountered by Brook sports and the manner in which the venture might mitigate the challenges through an action plan. 2. Challenges faced by Brooks Sports to develop into a 1 billion Company The challenges that are faced by the concerned venture are specifically based on a range of factors, which is being examined in this section of the research. The enumeration of the modifications would support in identifying the possible strategies that might be employed by the concerned venture to continue with the effectivenessof the operations while adhering to the needs of achieving a competitive benefit. Strong competitions between the concerned venture and Nike in the 1970s resulted to devastation of the brand name of the concerned venture. Product diversification has led to lack of monitoring and control activities, which degraded the quality of the products that werepresentedbyBrooksSports(Iveycases.com2016).Alternatively,thestrong competition between the two firms were affected by the lack of resources of Brooks which provided Nike with a competitive edge over the markets The failed acquisitions affected the goodwill of the venture and the capabilities of the same in enhancing the quality of the product offerings. In the year 1982 Wolverine World Wide, Inc. (Wolverine) acquired Brooks and concentrated on undertaking a range of
2BUSINESS MANAGEMENT acquisitions with the purpose of supporting and leveraging the brand image of Brooks. However, the lack of adequate resource allocations affected the capabilities of the concerned venture in continuing withthe effectiveness of the line of products. Again, I the year 1993, the Rokke Group acquired Brooks with the aim of enhancing the brand image of the venture (Iveycases.com 2016). However, Rokke Group failed to support synergies with the other brands of the same organization, which resulted to failure in the organization (Iveycases.com 2016). Therefore, the acquisitions affected the image of the concerned venture and the lack of strategic management affected the competitive edge of the venture while operating in diversified economies. The growth of the new entrants in the market has challenged the capabilities of the concerned venture in continuing with the operations of the same while operating in different markets(Iveycases.com 2016). The enhanced competition in the markets affected the capabilities of the concerned venture in continuing withthe effectiveness of the operation in adherence to the development related requirements of the same. 3. A six year plan for Brook sports The primary development plan for the concerned venture will be based on theevaluation of the current issuesthat are encountered by the same. The evaluation of the current issueswouldsupporttheventureincontinuingwithstrategiesforupholdingthe innovativeness of the venture. The concerned venture might undertake surveys with the aim of assessing the market structure and the growth opportunities of the same in the different markets. . Theplanning and consultationwith the stakeholders would support the management of the concerned venture in continuing with insight on the resource based needs of the same
3BUSINESS MANAGEMENT to implement subtle modifications in the processes. The concerned venture will take steps to develop collaboration with different supermarkets and retail stores around the world likeColesinAustraliaforbetterpositioningoftheofferingsinthemarkets. Alternatively,the concerned venture might take steps to develop apparels with the aim of diversifying their product ranges and sports accessories. The last part of the plan will be dependent on theimplementationof the strategies on the organizational processes. The implementation of the strategies would support the venture in continuing with the operation in adherence to the demand of the customers. The section wills thereby discus the detailed development plan that might be considered by the venture while continuing withthe effectivenessof the operations within the timeframe of 6 years. GoalsActivitiesTimeframePerson responsible Rationale 1. Evaluation of the market position Gathering marketrelated data Gatheringdata fromthe internalsources ofthe organization Evaluationof themarket 1 yearMarket analystof the venture The evaluation of the marketposition wouldsupportthe concerned venture in achieving knowledge onthedifferent processesthatare undertakebythe businessesandthe fieldswherethe concernedventure
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4BUSINESS MANAGEMENT driven data and comparingthe samewiththat ofthe capabilitiesof the organization (Juceviciene, Kazakeviciute andPetraite, 2015) Creationof reportsonthe marketdriven data might emphasize for improvements Planning,consulting andallocating resources Gathering insightsfrom themarket driven data Planning different strategiesand alternative solutions 2 yearsBoardof directors, CEO, responsible stakeholder s Theplanningand consultation with the stakeholderswould support the concerned venture in enhancing thedecisionmaking systems of the same. Alternatively,the allocationofthe requiredresources
5BUSINESS MANAGEMENT Choiceofthe best solution Consultation withthe relevantgroup ofstakeholders (Lawaletal. 2014) Assessmentof thecapabilities ofthe organization andcontinuing with budget Allocationof the resources in adherence to the wouldsupportthe venture in continuing withtheefficacyof the operations. Implementationof themodified strategiesand monitoring progress Implementing the strategies Monitoringand controllingthe progressof the organization 3 yearsProject managers, quality analysts Theimplementation of the new strategies wouldsupportthe venture in continuing withthecapabilities of the same to sustain inthecompetitive
6BUSINESS MANAGEMENT throughthe implementation of the strategies markets.The monitoringand controllingactivities wouldsupportthe venture in continuing with the operations of thesameinthe differentmarkets (Wu, W. and Bernal 2015). 4. Evaluation of different areas where the organization require investments for development The company might take steps to develop appropriate R&D operations for ensuring the innovativeness. In this relation, the concerned venture might take steps to invest in the different developmentalfunctionsoftheR&Ddepartment,whichwouldsupporttheventurein maximizinghescopeofoperationsofthesamewhileoperatingindiversemarkets. Alternatively,the concerned venture might take steps to develop suitable quality control and assistance teams with the aim of monitoring and controlling the quality related issues that are encountered by the same. It would support the venture in retaining the loyalty and trust of the customers while continuing with their product base in the different countries.
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7BUSINESS MANAGEMENT 5. Strategies that might be implemented by the concerned business The strategies that might be utilized by the concerned venture are being discussed in this section of the research. Lean Management- The concerned venture might take steps to adhere to the lean management philosophies, which would support the same in reducing the waste that are generated through the operations of the venture. The reduction in the wastes would support the concerned venture in optimizing the utilization of the available resources. Suitable resource allocation- Suitable resource allocation would support the concerned venture in continuing with the activities. Allocation of resources would support the venture in continuing with its resources with the aim of upholding the uninterrupted functioning the business units.Therefore, the suitable allocation of the resources would support the same in continuing with the operations. Development o R&D operations- The development of uninterrupted functioning R&D operations would support the venture in delineating the needs of the customers and thereby initiate the frequent innovative culture in the venture. Continuous innovations in the line of products will be assisting the venture in maximizing the rate of target audience for the organization. 6. Conclusion Therefore, from the above analysis it might be stated that the management of the businesses are dependent on the uninterrupted functioning of the processes with the aim of continuing with the operations in adherence of the demand of the customers. In this relation, the
8BUSINESS MANAGEMENT research delineated the challenges that are encountered by Brooks and the steps that might be considered by the same for the smooth functioning of the systems.
9BUSINESS MANAGEMENT References Iveycases.com (2016).Brooks Sports: Competing against the Giants. [online] Iveycases.com. Available at: https://www.iveycases.com/ProductView.aspx?id=80774 [Accessed 12 May 2019]. Juceviciene,R.,Kazakeviciute,A.andPetraite,M.,2015,September.Technology Entrepreneurship Competence as a Result of Experiential Learning: Relationship Between Knowledge,SkillsandAbilities.InEuropeanConferenceonInnovationand Entrepreneurship(p. 330). Academic Conferences International Limited. Lawal, A.K., Rotter, T., Kinsman, L., Sari, N., Harrison, L., Jeffery, C., Kutz, M., Khan, M.F. and Flynn, R., 2014. Lean management in health care: definition, concepts, methodology and effects reported (systematic review protocol).Systematic reviews,3(1), p.103. Wu, W. and Bernal, E.A., Xerox Corp, 2015.Method and apparatus for automated inventory management using depth sensing. U.S. Patent 9,015,072.