Business Strategies for Polaroid: Analysis of Macro and Internal Environment, Strategic Models and Plan

BUSINESS STRATEGIES

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1- Applying appropriate frameworks to analyse impact of macro environment on Polaroid......3
2- Analysing internal environment and capabilities of company................................................5
3- Porter's Five Forces Model......................................................................................................6
4- Applying theories, concepts and models to produce a detailed strategic management plan
for Polaroid..................................................................................................................................8
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

INTRODUCTION
Business strategies are defined as set of effective and useful actions that a manager or
leader accountable to take and conduct in practical manner. A business strategy play important
role in success and progress of any company, whether it is small or large, public or private. The
current assignment will be based on Polaroid, which falls under the category of top American
organizations in the world, which is best known for its instant cameras and film. The study will
explain application of frameworks analyse the impact of macro environment on company and its
strategies. It will also define the internal environment and abilities of firm using appropriate
models. Furthermore, the report will also define range of theories, models and concepts applying
for chosen firm.
MAIN BODY
1- Applying appropriate frameworks to analyse impact of macro environment on Polaroid
PESTLE analysis is one of the best and most effective macro environmental analysis
models that applied in the context of varied companies. It can of Polaroid, the same model is
apply, which in turn provide key information about certain factors that put direct impact on
organization performance and tactics. These factors are;
Political factor-
Changes related to political factor may put impact on a company performance and current
practices for which management is accountable to conduct (What is PESTLE Analysis? An
Important Business Analysis Tool, 2020). In case of Polaroid, change in the context of trade
policies may put negative impact on firm in term of decreasing its effectiveness related to
trading, importing and exporting products such as digital camera, instant camera, etc. Just
because of this factor, it may do not expand successfully at international level as it may pay extra
charges for purpose of conducting the same activity which is not possible to company to do that
in short time period as it may affect its success criteria.
Economic factor-
Economic growth, income level, employment, etc. terms are included in category of
economic factor, that affect organizations growth and success. Polaroid business may influence
by this factor in positive manner, because economic growth and employment ration may provide
organization chance to grow in rapid manner. As it may take pleasure of hiring skilled and
experience candidate, who are capable to achieve organizational aims and objectives.

Furthermore, due to economic growth, it may take benefits of increasing profitability as
individual person is able to buy a camera for purpose of travelling, during that process they may
capture the best moment with family and friends.
Social factor-
Current market trends, customers needs and emerging trends in the future may put
positive impact on Polaroid in form of driving management attention toward determine their
needs, which enable them to fulfil the same (What is PESTLE Analysis, 2020). It may lead to
increase organizational productivity and profitability, as it may offer each product that meet
target market needs, which is quite essential for administration to do that. People are taking high
interest to purchase the best products and watch out the films through which they may obtain
enjoyment and fresh their mind. By offering the quality products to customers, firm may retain
then for longer, which in turn lead to increase profits margin and progress ration.
Technology factor-
Technology advancement may put positive impact on Polaroid business success and
growth in form of providing organization the best chance to enhance customer satisfaction by
adopting new technologies and adding the same within their existing products. It may add new
features in cameras that allow individual customer benefit to capture real picture with clarity that
is the most attractive and demanding feature which people want in any form of cameras.
Furthermore, advancement of technology may enable organizational marketer to create the best
campaign that help to generate the awareness of venture all over the world, which is important
for them to do that.
Legal factor-
Changes related to legal factors such as data protection law, employment legislations,
contract law, etc. may affect any sector and companies that operate under the same. In case of
Polaroid, it may lead to decrease operational effectiveness and efficiency as well as
organizational productivity. As change related to above term may put a lot of pressure on
management which drive their attention toward making essential modification within their
practices as well, that is not possible to do within short time period. It may affect the way
manager, leader and other stakeholders act and behave in the context of aim achievement.
Environmental factor-