This report is based on Limitless Smartphone Company and includes a strategy paper and professional development reflection report. It covers the company's vision, values, mission, human resource, culture, and reviews each year's progress. It also discusses market share, product/price analysis, and competitive strategies.
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Business Simulation with Professional Development 1
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Contents INTRODUCTION...........................................................................................................................3 Part A: Strategy Paper......................................................................................................................3 Review of Each Year’s Progress............................................................................................5 Market share:..........................................................................................................................6 Product/Price analysis............................................................................................................6 Competitive strategies of company........................................................................................7 Evaluation of strategies and decisions....................................................................................8 Performance analysis............................................................................................................10 Future plans and recommendations......................................................................................11 PART B-Professional Development Reflection Report................................................................13 Executive summary..............................................................................................................13 INTRODUCTION................................................................................................................13 Identified events:..................................................................................................................13 Review of Relevant theory...................................................................................................14 Review of industry practises................................................................................................15 Application of theory or practise..........................................................................................15 Discussion.............................................................................................................................17 Recommendations................................................................................................................17 CONCLUSION..............................................................................................................................18 REFERENCES..............................................................................................................................20 2
INTRODUCTION Simulation is basically termed as the rough or approximate imitation of overall operational procedure of company which simply shows expected by activities on the same area over the period of time. It is determine as the useful method that supports individuals in analysing things in better manner by communicating, verifying, and understanding things(Draijer, 2020). Along with this, it also provides valuable solutions towards the expected business problems that might occur in future while executing operational work or implementing any plan for future growth. The present report is based on Limitless Smartphone Company which is mainly producing smartphones in Asia under its own license. This project is mainly divided into two parts where Part A of this project is strategy paper and Part B will Professional Development Reflection Report. Here, Part A of the report will cover detailed information on business simulation activity opted by the company from last 5 years. In this, strategy of the company would be deeply reviewedbyevaluatingvision,mission,strategy,culture,competitors,industrialanalysis (Porter’s five forces) etc. and future plan. At last, it will provide recommendations to the for next five year. Part B of this report is related to reflective report which would emphasise on overall learning from experiences developed by the individual. Part A: Strategy Paper Vision:The vision statement of Limitless Smartphone Company is to enhance connectivity with the world, provide support to local communities, sustainable future practices, shaping the future of technology, transform human experiences with latest featured Smartphone that could simply help company in accomplishing their organisational goals and objectives in quicker manner. Values:Limitless Smartphone Company provides higher value to its ethics as they perform each and every activity related to business by adhering all the norms in appropriate manner. This simply helps company out in attaining organisational goals and objectives in quicker and wise manner(Zulfiqar and et. al., 2019). Also, the respective company values its each and every customer thus it offers Smartphone for all types of its customers belongs to every range. Mission:The mission statement of Limitless Smartphone Company to develop sustainable future with higher support of local communities. 3
Human resource:In order to execute all organisational activities effectively within Limitless Smartphone Company, the respective manager prefers to bring highly skilled and qualified employees within the company who could easily understand work and perform it in the same manner(Bocciardi and et. al., 2017). Also, for improvising performance of the employees and remaining competitive the respective manager of the company conducts training programs for the employees. In these training programs employees get to know about the skills which can enhance their performance rate. This simply supports the company in executing its work in appropriate form. Apart from this, the respective manager also provides rewards to its employees on the basis of their performance in order to motivate them at extensive level. Along with this, it has also been seen that the respective manager of the company also emphasizes on making use of bonuses and other remunerations in order to enhance loyalty among employees as they are motivated with the supported which being provided to them by their superiors(Hughes and Scholtz, 2015). This simply helps them out in serving its customers as they got appropriate training related to handling customers which ultimately results in creation of better image at marketplace. Culture:Organisational culture is basically determined as the personality of the company which simply states the environment of workplace where employees performs their work. Culture of company includes many elements such as vision, mission, goals, working environment, ethical values, and expectation of the company. With reference to Limitless Smartphone Company, it has been seen that respective manager of the company focuses on developing positive working environment within the company where employees can work freely and give their best in the assigned work(Hernández-Lara, Perera-Lluna and Serradell-López, 2019). Apart from this, it has been analysed that manager of this company provides complete liberty to their employees that means that employees are allowed to perform their work according to their own knowledge. Also employees are free to share any sort of innovative idea with the company that could contribute in improvising functioning of the company in appropriate manner(Bocciardi and et. al., 2017). The respective organisational culture of this company is very corporative and working friendly as employees are highly free to express that whether they are able to execute their work in their own pattern or not. This aware the management in knowing problems faced by employees which ultimately helps them out in taking required initiatives to resolve the same problem. 4
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Review of Each Year’s Progress It is important for a company to take into account the progress of each year in order to determine the growth and development prospects of the corporation. In this relation, an in depth analysis of performance of Limitless is provided beneath with the assistance of effective tools. Porter’s Five Forces Analysis: This is a model which provides assistance in determining the extent of competitive rivalry within the confines of any industry. In relation to the performance of Limitless, the management of this organisation is applying this model to gain knowledge of the comparative position of the entity as against the industry within which it operates. This model consists of 5 forces which are discussed below:- Customer’s Bargaining Power:The extent of this force was low within the initial years of operations of Limitless as, there were lesser numbers of market players. With the passage of time, new companies gained access into smart phone industry which inflated the bargaining power held by the customers for Limitless(Levant, Coulmont and Sandu, 2016). Yet the effective performance shown by the concerned organisation during the last 5 years has provided assistance in countering the high customer bargaining power.Supplier’s Bargaining Power:In the initial phase, there were less numbers of vendors in the market due to which the extent of this force in context of smart phone industry was high. The passage of time introduced several new suppliers diluting the magnitude of this force for Limitless. Thus, the entity is now able to build networking with vendors and negotiate the prices of materials provided by them. Threat of Substitutes:The threat of substitutes in context of smart phone industry has always been high. This is so because even though the quantum of rivals in the initial phase of Limitless was low, such entities were still coming up with new features at rapid intervals to captivate the audience(Draijer, 2020).Threat of New Entrants:The extent of threat of new entrants has constantly increased in context of smart phone industry for Limitless. Even though substantial capital investment is required to gain access into this market, the constantly growing prospect of this sector has gained the attention of new companies, thus enhancing risk for Limitless.Competitive Rivalry:The magnitude of this force has increased with the efflux of time, being low in the initial phase of Limitless to being at peak in the present time.At present, 5
there are some top market players which pose threat to the sustainability of Limitless in the market place. However, the entity strives to leverage focus on fulfilment of customer needs to sustain in market in the long run. Market share: Market share is the percentage of the market (defined in terms of any unit or revenue) accounted for by a specific entity. Percentage of sales volume of products of a specific company among the total sales volume of specific products in a competitive market (market). Market occupancy rate, market occupation rate, which is also an indicator of market power. It is roughly proportional to the concentration of production in terms of production volume, but in the case of goods with high dependence on imports, market occupation rates may be lower even if the concentration of production is high. The simulation results shows that currently; smart phone company has grabbed around 45% market share in Australia; 48% in UK and more than 55% in Germany. Which indicates that maximum scope for product development and gaining more market share is in Germany itself. After 10 years; this results varies with improving the market share in Australia by 2%; UK also shown improvement by more than 8%; and the leading company Germany has maximum improvement which is more than 15% over 10 years of life span. Product/Price analysis Thisisthepercentagedifferencebetweenyourproduct'saverageproductpriceandthe participative product price. For product groups, the price difference is measured based on the traffic potential of your product. More popular products will be given more importance than less popular products. If the price of a commodity is kept low for the poor class due to price discrimination and high price is kept for the rich class, then price differentiation is beneficial for the society. Report says 81% of customers who think about various store offers locate a superior arrangement. Affiliates who can gather and dissect showcase information, map their position contrasted with contenders and offer the best costs, are the organizations that initially pull in the consideration of those purchasers. Serious valuing is a methodology that assists organizations with drawing in more clients by streamlining costs utilizing serious creation and evaluating information. An effective valuing methodology can fundamentally expand deals, lead to better coordinated effort with providers 6
and produce income. Below is the product/price analysis of different countries; Australia, UK and Germany based on current year 2020 and over the next 10 years: Australia: In Australia; taking year 2020 as a base; total segmented market on the basis of price is 6 million; on the basis of quality it is 72,000 and over 1.14 million customers focused on current smart phone company. After 10 years; the resulted data shows not much difference; as segmented market based on price is increased by 300K; based on quality increased by 3,600 and focused customer base increased by 57,000. UK: As compare with Australia; in 2020, market segment based on price is only 1.8 million; based on quality shows more product preference by people and shows positive attitude towards quality of UK people which is 1.62 million and customer focus doesn’t create much difference; as it is only 1.14 million. Germany: This country is leading all other two countries from every point of perspective. In 2020; smart company is able to attract over 1.94 million people based on price; 1.68 million based on quality and 1.58 million customers are product centric based on both price and quality. Competitive strategies of company There are a number of generic competitive strategies which this company purse you in order to gain competitive advantage in the market. The company has chosen from four generic strategies in order to do so. Below mentioned is the strategies which can be followed by a number of companies to attain competitive advantage: Cost leadership:Cost leadership can be attained by a company in the market by providing their products at a lower price than their competitors.Companyhere usescost leadership or operational excellence strategy by offering high-quality smartphones in the market.Company here focuses on cutting the cost wherever possible only keeping the necessities which are essential. Product leadership:Product leadership is achieved by a company when they provide best possible product to their customers which have no substitute in market.Company here differentiates their product from others in market by providing high quality smartphones in market. They have all the new innovations required by a firm to do good in market. Innovation is the main focus on company through which they provide best product to their customers. 7
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Customer focus:In this company focus on building the brand image in the market.This is done through focusing on establishment of a long lastingrelationshipwith their customers. It helps in establishing a strong brand identity and also working for innovations will make the clients as ambassadors for the business. Combination of all of above: Company here does not focus on a single aspect but look for all the aspects altogether. They sit in the middle when taking into account price, quality as well as strong brand image. This is also a good competitive strategy which can be followed by company. When talking about company Limitless they focus on gaining competitive advantage in the market. There are a number of ways through which company can successfully do this. But Limitless follows combination of cost leadership, product leadership and customer focus. The prices at which company provides their product in market are neither too low nor too high. However, they take care of fact that their products are provided at competitive prices as per their competitors in the market. When taking quality and product into consideration Limitless have a number of innovations in their product which makes it better then their competitors. But the amount spent on research and development is not much as company do not want its cost to rise too much. Company have paid a lot of attention towards their customers. They do it through taking regular feedbacks from their customers and meeting the required wants and needs of customers. They have also focused on after sales service to make it possible. Following all these steps Limitless faces competition in market and attains competitive advantage. Evaluation of strategies and decisions Company have to take decisions regarding a number of matters. These decisions of companies are related to countries they work for, management of company along with different departments which are human resource, product, distribution, marketing and finance. Below mentioned is an analysis of performance and evaluation of company’s strategies and decisions regarding all these points. Countries:Limitless deals in a number of countries as it has gone international to carry on its business. Some of the major countries it deals in and various strategies it uses in those different countries are mentioned below: United Kingdom:It is a great option for Limitless as it represents economic power in Europe. Country is known for long and successful history including its financial history as well. This is reason how company is successfully positioned in this country. 8
Australia:Company have used market penetration to enter in Australian market. Germany:This company has 4thlargest economy when comparing nominal GDP. The country has high standard of living and sustained development making it a great opportunity for Limitless to work in this country. Management:Themanagementofcompanyisdividedintofunctional,geographicand international division structure. The company is divided into various departments as per their functions which are operations, finance, human resource, marketing and so on. Human Resource:Limitless have successfully developed a strong Human resource department by dividing it into various sectors. They have some important policies followed by them which include set standards for maximum workload on per employee, the number of full time employeesrequired,developingahumancapitalmanagementsupportsystem,specific remuneration, rewards as well as bonuses. Product:Limitless designs their product keeping in mind customer preferences so that it is acceptedinmarketbytargetedcustomers.Theyinvestenoughintheirresearchand development. There is a particular budget allotted for research and development and regular check is made by company on its research and development to make sure that everything goes according to plan. Distribution:Company have set standards for their distribution as well. The cost and time required for their distribution is clearly mentioned by the firm. The smartphones are produced in their factories which are situated in Asia and the delivery starts from their itself. The products move to the warehouses of specific countries from factory. Company is linked with LSP for their delivery who provide them on time delivery although it is a bit expensive. Marketing:The marketing of Limitless is done through various mediums. It is done globally as well as locally. Different marketing strategies are made for local as well as global markets. Company mostly uses online promotion activities for their global promotion. The major focus of their campaignsis on brand awareness, brand knowledge, behaviour intention, behaviour facilitation as well as satisfaction of their customers. Financial:It is clear that Limitless needs to invest a lot as they need to continuously innovate new features in their products. It is to be kept in mind that only investment will bring in profits for company. Company usually goes for loans in order to attain investment for their business. They have certain long term as well as current loans through which they get investments for 9
company. Once they started earning profits, they can easily manage regular cash flows for business and will not require huge borrowings from market. Performance analysis It analysis the performance of the Smart phone company with the help of merit called key performance indicators. Below are some measures for comparison: Comparison of actual performance based on targets: Profit Margin Ratio: Net profit margin ratio is a profitability ratio. Basically, after deducting preferred share dividends from business operating expenses, interest expenses, taxes and revenue, it is a percentage of profit from operating the business. Common stock dividends are the only major debit item left out of the equation. The reason for this is that, technically, ordinary shares are not a dividend expense; they are distributing profits to shareholders. Furthermore, they are not mandatory debits - a company's board has declared a dividend and the same board can reduce or suspend the dividend at any time. Net Income = Gross Income - Expenditure. In many instances gross income is similar to sales revenue, however, they may vary if certain exclusions are allowed - for example, stock options granted to company executives but here we will assume the original position Where gross income and sales revenue are the same thing. To arrive at net income for a specific time period, often a quarter or a year, you subtract from gross income all business expenses for the same time period. This includes all operating costs, interest, tax payments and preferred share dividends if any. The profit margin ratio of the company shows huge losses over 10 years. According to simulation software; Smartphone Company has profit margin of -67.97% which is much from year 2020 -48.69%. Lowest price: The lowest price which can be offered by company is 3 pounds in 2029; below this rate will make Smartphone developer to shut down its business because; it will not able to cover its fixed cost of the business below this rate. Return of equity: The return of equity is determined as the amount of profit the company makes from the shareholder's investment or is a measure of how effectively the company invests in a dollar amount and derives better profit from it. Return on equity is more important than return on 10
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investment to shareholders because it defines the way your money is reinvested in the company. A company has a higher return on equity that may be able to generate more cash internally. Therefore it is always better to invest in companies with high and consistent returns in equity. It is not always advisable to invest in high ROE companies to create better returns. There are some standards on which a company compares its return on equity with its industry average. Generally the higher this ratio, the better the company invests in it. Return on equity can be calculated based on the formula specified below: Equity ratio = Net income / Return on equity of average shareholders If we may be able to solve the return on equity problem, which is a part of the complex problem then there are various other situations where we can apply the return on equity ratio equation. The result of simulation shows that return on equity will not be received by Smartphone Company after year 2027; before this year firm is facing negative return on equity due to huge loss make by the company. And also it is much far from its target which is to earn 15% return on equity. Return on total Assets: The return on assets determines how much profit a company makes for every dollar of its assets. Assets can be anything like cash in the bank, accounts receivable, property, equipment, inventory and furniture. Return on asset defines the investment that a company is generating from invested capital (assets). Returns on assets vary greatly for public companies that rely heavily on industry. If we compare ROA, it is a best practice to compare with ROA of the same company or against the previous ROA number of a company. As we know that total assets of a company is the sum of total liabilities and shareholder's equity. And the company's assets are funded either by debt or equity. More debt will result in zero if we add net income and borrowing costs to average assets over a given period. A formula for calculating the return on an asset is defined. According to simulator; the targeted return on total assets set by Smartphone Company is 10%; but actual performance is -0.11% showing poor performance by the company. After 10 years; it will be -108.41% due to huge loss occur by the company. Future plans and recommendations Based on current analysis of target and performance of the Smartphone company over next 10 years; it is recommended that company required lots of changes in its operations and marketing activities. These loses are very huge and can’t bear by firm over 10 years. Also sales growth 11
study analysis indicates negative growth which is bad indication for Smartphone owner to continue its business for long period of time. The future plan of the firm should be to focus on niche market; so that it can cover atleast its variable cost. Profit margin also required by the company for the growth of its business. Hence, it is suggested and strongly recommended that Smartphone Business Company should focus to increase its profit margin and return on its equity and total assets for continuation of its operations. 12
PART B-Professional Development Reflection Report Executive summary The reflection report, based on the individual working in a team in the simulation business in Limitless Company. The company is involved into manufacture of verities of smart phones. The reflection report consist of professional development and the learning way is completely different the theories such as situational leadership and communication theories are two relevant theories that can be applied in the organisation. INTRODUCTION The annual performance development review is approaching and there has been reflection of understand if the company from the point of overall industry. Working in real completely different from what we study in the overall MBA course. The theories and practises what we understood in the overall academic concepts have to be applied in the practical life in a complete different manner and with a overall different prospective. In the scenario I have been appointed as a team leader where I got the opportunity to work with many different people in the whole organisation. The present report, deals with the identified events, relevant theories, application of theories and further discussion of the overall practise and research with more number of recommendations on the practise. Identified events: The event that has been considered in the present report isa Leadership conferencewhere many leaders have participated along with limitless that lead to lot of detail discussion on various events and based on that event(Trinidad, Vozmedianoand San-Juan, 2018). In this event I got the opportunity to interact with other great leaders of my competitors to understand the basic nature and the way they are playing various leadership theories for conducting of the business practises, making some of the relevant business decisions and then managing the subordinates in suchawaythattheyarecontributionmaximumtowardsachievementoforganisational objectives. There were further many decisions that have been made in this organisation for the purpose of developing an understanding of such events. There are many different theories that I was able to identify such theories that can help in smooth functioning of overall function of this organisation. 13
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As the leader and manager of the board there are several decision that have to be made for the organisation for various functional departments such as, marketing, financial and human resource. In the conference event which I am highlighting in this present report there was major discussion of the strategies that has been adopted by leaders working at various different positions and in different departments of companies that they use on order to manage their staff and help them in making higher contribution. Review of Relevant theory There were many leaders who are part of this company Limitless and they all are responsible for participating and using their leadership skills for further management of various roles and responsibilities. So, there is use of some below discussed leadership theories. There are basically two leadership theories that are being considered in the present report as discussed below: Situational theories: It is a proposed theory that leaders in limitless have chosen based on the actions that is suitable according to a particular business situation. Such as if leader is having lot of experience and knowledge then use of authoritarian style of leadership is the most appropriate theory that can be applied for various dynamic situations(Trinidad, Vozmedianoand San-Juan, 2018). There are different types of leadership theories that are part of situational leadership that are helping in managing and leading of the overall workforce in an organisation such as: Autocratic style: In this the sole decision making power rest with the leader and no other organisation has the right to make decision and there is no consideration that is being given to the subordinates while major important decision are being made in the working of organisation. Democratic styles: It is a style of leadership that is also part of situational theories in which there is consideration given to views of employees and all the subordinates and Behavioural theories:behavioural theories are based on a belief that leaders are not born but are made. It is having focus on the mental capabilities and the internal state of a leader. According to this theory leaders can become and get a significant position with help of teaching and more observation. Participative theory:It is a theory that is in relation with a ideal style of leadership that tale into account of other subordinates in a organisation. Leaders are encouraging and are feeling more confident in participating with others so that they are more capable of performing such task and make proper decision making. 14
The above mentioned are some of the theories that have been used in Limitless according to my analysis that I made while I attended the conference events Communication theory: this is related with the use of communication theory in the case of Limitless the main communication theory that has been used by leaders is theinteractional modelof communication in this model there is a two way communication that is taking place in a organisation and it will help in such a communication that leaders are not only passing on their information but at same time they are able to receive feedback and viewpoints of their subordinate on various different topics and discussed matters so that they can reach to proper conclusion(Gustafsson, 2017). It has also created a satisfied workforce is subordinates feel that they are also important and their views are being considered at the time of making any important decision in the organisation. Review of industry practises Company Limitless as dealing in smart phones have to deal with high amount of competition in different areas such as in case of United Kingdom that are competing based on prices, quality and customer focus are there criteria based on which there is high ,amount of competition that is being observed in UK by Limitless(Fox, and Farrington, 2016). The scores that have been provided based on various industry practises have been in such a manner that there has been a core score of 108.23647 and the multiple core score has been not much. There has been no major market share in comparison with all the other companies who are part of this industry and the total segment size has been 6300000 and the total sales within this segment has been zero. This leads to a analysis that there is lot more efforts that are required to made in order to increase the percentage of sales in this particular segment(Wortley. and Tilley, 2017 ). From such figures it can be said that there has not been much progressive reports and I have realised that the main objective of achievement of higher sale can be done only if there will be something different that can be experienced by customers in the target market by limitless. The efforts of both leaders and managers are required along with suitable marketing and promotional strategies have to be applied to enhance the overall sales of the organisation. Application of theory or practise The above discussed theories ofleadership and communication theoryhave to be applied in a organisation based on review of certain practises and then making decision based on the 15
particular strategy of the organisation. Such as in the present case of Limitless I have observed that this brand is having a aim and they posses main concentration towards not only to sell smart phones built at same time Limitless will also be focussing on their post sales services so that they can have a more positive impact on their customers as such strategies will help them in having a competitive advantage to survive in the situation of high competition that they are going to face from similar mobile phones brands that are part of different countries(Wikström, . and Treiber, 2016). The use of democratic theory of leadership has actually created and can create a lot of difference in the conference simulation also the major important events that has been identified is related with how are various leadership used by such leaders and in such a manner that they can easily stimulate the behaviour of their actual working staff. The communication theoryhas been applied in limitless in such a way that the overall vision of this company is divided in three points such as first is becomingmore socially responsiblein this there is timely consideration given to all the aspects of society, second is highly reliablein which all attempts are made to be responsible for any issues that their customers are facing and then resolving them in the fast as possible so that customers are not switching to other competetive brands and last part of their overall vision is to make Smartphone basic need of a people living in the society. Third vision of Limitless is making Smartphone’s basic need for people in which there are efforts made to cater demand for such product very important in lives of people so that it becomes part of basic need for their survival and they cannot line without Smartphone(Wilcox, . and Cullen, 2018). So, above discussed are the vision of Limitless that are basically communicated with the use of interactional model which there is a two way communication that is made among the leaders and all the employees working in various different department at different levels of the company. So that they are able to understand the importance of this vision and all their workings are inclined towards achievement of such set vision in the organisation. In another way the main communication that was made was that the aim of the leaders of Limitlessis that to make smart and affordable phones for everyone that is their present and prospective customers. 16
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Discussion From the points mentioned above there can be discussion about the various different aspects such as there is requirement of strong leading and management theories that have to be used by organisations and especially those companies that are part of IT sector such as Limitless who are dealing in making of mobile phones. The Ans off Matrix is a tool that can be used easily and applied by the leaders and managers inLimitlessthat is going to be very beneficial in formation of a specific strategy that could lead towards achievement of their better score in comparison with other competitors. Use ofleadership and communicationtheory can help in carrying of the functions. When models such as Ans off will be used then it will lead towards high amount of sales as all the function will be perform duties a more specific manner such as it is going to provide a specific guidance to all the employees that in which direction all their efforts have to be focussed on in order to get high percentage of sales. Recommendations From the above made discussion there are some recommendations that I am making with respect to Limitless that can help in improving their overall performance: The above identified event of the conference in which leaders have been participated clearly indicates that there is a requirement to make certain very important tools for communicationwiththeirsubordinates.Withtheuseofvariousleadershipand communication theories there are also other some of the important concepts that have to be used in order to get a detailed understand of the actual; employs who are working at lower positions of the organisation. There is a requirement of using and making a detailed analysis of some news items that is very necessary part of the overall external analysis. The news items will help in updating about what all is happening in the countries as individual units. Such events will also help in influencing the national and the international strategy of limitless. Various attractive tag lines and slogans can be developed by the marketing department of this organisation so that they are able to attract their prospective buyers about such products.The overall vision of the organisation should be reflected in a particular tag line that is going to help customer perceive more value and make their purchases according to such identified core value being offered in a particular product. 17
There has to be more focus on the overall international plan that is prepared by limitless that is helping the leaders and concerned employees in making strategies for the organisation. Above discussed are some of the recommendations that have been with regard to sue of various leadership theories and communication theories by leaders in limitless. In the conference events and the overall experience of attending this event has lead to development of such recommendations. CONCLUSION On the basis of overall information specified in the above section, it has been business organisationsarerequiredtoemphasisonanalysingtheirinternalaswellasexternal environment deeply so that they can easily determine their actual positioning at marketplace without any issue. It has been further acknowledged that mission, vision, values of the company simply shows how company itself sees its business and execute the work in rightful manner. Mainly, it is highly important for the business managers to deeply analyse their actual financial positioning by simply reviewing balance sheet, cash flow statements, income statement etc. so that they can easily take future financial decisions accordingly for attaining maximising their business growth in rightful manner. It can be further said that business organisations can easily take its future decision by considering few areas such as market, customers, competencies, capabilities, product quality and price. All of these equally contributes in the business growth of the company as they are able to take rightful decisions towards it. 18
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