Corporate Strategy and Leadership Assignment
Added on 2020-03-16
29 Pages6814 Words27 Views
Leadership ManagementProfessional DevelopmentMarketingDesign and Creativity
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0Running head: CORPORATE STRATEGY AND LEADERSHIPCorporate Strategy and LeadershipName of the StudentName of the UniversityAuthor’s note
1CORPORATE STRATEGY AND LEADERSHIPTable of ContentsPart 1: Strategic Analysis.................................................................................................................3Customer Retention.....................................................................................................................4Effective Brand Management......................................................................................................7Proper Employee Training.........................................................................................................10Part 2: CEO leadership..................................................................................................................17Part 2(b) Reflections on why I should be appointed as the CEO of MyCo Pty Ltd......................21References......................................................................................................................................25
2CORPORATE STRATEGY AND LEADERSHIPExecutive SummaryThe strategic analysis is one of the basic tools that are used by all business organizations in theprocess of implementing the business plan. In case of MyCoPvt. Ltd the principal strategic issuesthat must be taken into consideration are customer retention, proper brand management andeffective employee training. However, all these three strategic issues are associated with certainrisk and potential threats. However, effective promotion of the opportunities of all the threestrategic issues will help in flourishing of the merger company.
3CORPORATE STRATEGY AND LEADERSHIPPart 1: Strategic AnalysisThe strategic analysis is one of the basic tools that are used by all business organizationsin the process of implementing the business plan(Zott and Amit2013). The process of strategicanalysis is often associated with that of identifying the internal strengths and weaknesses of anorganization that can be used in the process of making marketing plan(Langley et al. 2013). ForMyCoPvt. Ltd, it is essential to make use of effective strategy, which is needed in the process ofdealing with the tough level of competition in the market of management consultancy firms. Themajor challenges that are faced by Management Consultancy firms are mainly due to thestructure of the business (Langley et al. 2013). There are several forces of change that are facedby the Management Consultancy firms, which are the cause of major strategic challenges. Table: Effective Strategic Plan in a tabular representationThings to be avoidedThings that should be practisedAmbiguityFlexible, transparent and open mindedapproachSelfishnessSolidarity and greater unityPhilosophy undertaken during mergerShared ideologyAny kind of business practise before mergerUnified and strategic business plansDominant behaviour and dictatorshipShared and New corporate cultureInternal politics and Self-preservationEquitable and shared decisionsSegmentation of human capabilitiesEnhanced level of capabilityA strict domain of superiority and inferiorityProper motivation and EnthusiasmDebt differentials and retaining of resourcesDebt preservation and Unique resources(Source: Galliers and Leidner2014)
4CORPORATE STRATEGY AND LEADERSHIPCustomer RetentionOrganisations make several efforts in order to retain their customers and to attract a freshgroup of customers for escalating their profit margin(Boulding et al., 2013). They implementcompetitive strategies; propose implementation of the flexible supply and demandmanagementwith a goal of delivering their valuable customers consistent and high level ofsupply(Mithas, Krishnan and Fornell, C., 2013). However, despite their constant effort,customers do not stay loyal to one particular organisation for time immoral. The same thing hashappened in case of MyCo Pty Ltd. Their group of trusted customers have been undertaken bythe ‘The Hackett Group’ this may be due to competitive price and better offering of services. Inorder to outnumber ‘The Hackett Group’ in profit margin, MyCo Pty Ltd must move beyond thecommon thought of customer satisfaction and think something new in the grounds of customerretention via customer relationship management. The important areas of customer retentionmanagement are relationship marketing efforts, service failure management and service recoveryefforts, compatibility management and defection management(Khan 2012). In order to build stronger relationship with the customer, MyCo Pty Ltd must employstrong relationship marketing(Nguyen and Mutum2012). Customer relationship marketingpromotes long standing business success. Compatibility management promotes the concept ofcustomer to customer interaction. In customer to customer interaction, the company mustestablish the concept of upbeat encounters while avoiding other unnecessary encounters thatdeals with dissatisfaction among the customers(Martin and Martin 2016). In the ground ofdefection management, the company must look into innovative in approach to minimise thechances of customer defections(Riebe et al 2014).
5CORPORATE STRATEGY AND LEADERSHIPService Failure Management is one of the important aspect lying behind customerretention. Service failure in case of management consultancy can be defined certain inability tomeet the expectation of the customers in term of the propose service. This intangibility in theservice gives rise to service failure. The nature of business in the management consultancy firmsdemands rigorous interactions with the clients. Such interactions offer the chances of servicefailure. One of the best possible ways which MyCo Pty Ltd. Must undertaken in order to preventservice failure is plan things properly from the beginning and avoid relying on the servicerecovery management to keep the customers loyalty. Doing things right and managing the actionplan properly from the beginning of the service can only be achieved via identifying the possiblepitfalls of the delivery process. Other way of identifying the pitfalls of the service delivery planis to vouch for customer’s suggestion and to learn from the previous faults. MyCo Pty Ltd. Mustalso reduces complexity of the service procurement, promote positive word-of-mouthcommunication and concentrate on supplying high quality service. In the domain of dealing withthe quality services, their inseparability and perception must be taken into consideration. Herethe management consultancy must try to split their nature of service and manage the dealingbetween the service providers and the customers and thereby improving the delivery system.Another chord behind the service failure is lack of proper communication between theemployees and the customers. Here the employees must be trained in their communication skills.Since MyCo Pty Ltd. is merging with Canberra Pty Ltd, lobbying firm, it must take thecommunication skills of the Canberra Pty Ltd employees into consideration too. If they areefficient in communication skills then building a team with permutation and combination withCanberra Pty Ltd employees and old MyCo Pty Ltd. will lead to the development of effectivecommunication skills(La and Choi 2012).
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