HR Planning for Motor and More Inc.: Competitive Analysis, Market Differentiation, and Porter's Five Forces Analysis
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This article discusses HR planning for Motor and More Inc. including competitive analysis, market differentiation, and Porter's Five Forces analysis. It also includes a SWOT analysis and references.
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HR PLANNING2 Company foundation Motor and more Inc. is classified as a business to business sales company which uses the prospector’s strategy. The company deals with small motors and accessories for industrial and home products and targets both local and international markets. Proper operational and considering quality in its operations has been assisting this company to dominate market share and also to realize substantial growth in its sales revenue. The mission of the company is to attract and attain customers with the high value products and also the services based on the ownership experience. Its management emphasizes on the growth and invention of new products to enhance development. The company’s vision is to be the most successful company by being the first to the market. Competitive analysis and SWOT analysis The competitive analysis of the motors & more, Inc. is small as compared to that of its competitors, and this makes it difficult for Motor and more Inc to serve its intended target. The company focuses on different local supplier who deal with small motors and accessories for industrial and home products by providing a variety of products to distribute locally and internationally. One of the major strengths associated with this company is its ability to establish strong relationship with their customers. According to Shameem (2018), strong customer relationship is crucial in business operations because it makes organizations to realize substantial growth. For this company, strong relationships with its clients has played a great role in helping it to acquire a competitive advantage.
HR PLANNING3 One of the weaknesses associated Motor and more Inc is that it seems to lack proper operational and marketing strategies that can assist it enlarge its merchandises, and also to expand its operations to areas especially beyond its local markets. One of the major opportunities associated with Motor and more Inc is possibility to realize significant market share because of customer loyalty. Due to the long term and strong relationships which the company has established with its customers, this company has an opportunity to grow because of increased sales and revenue. One of the biggest threats facing motor and more Inc is competition. According to Marja- Liisa (2010), various companies have already ventured in manufacturing small motors and accessories for industrial and home products and therefore this has made the competition in this industry to be stiff. Other threats include economic downturns and changes in technological advancements Market differentiation Market differentiation requires a keen understanding of the product and also the services that are different from other competitors (Shameem, 2018). For instance, providing an opportunity to individualize the services being offered before and after the stock is delivered to the market. Another way of achieving the market differentiation is through Community involvement. This can be very effective more so when demonstrating an inimitable customers attitude as compared to that of competitors. Analysis with porter’s five forces The Porter’s five forces model analyzes a company based on its operational environment by considering factors that affect its business strategies. Porters outline the five force as the degree of rivalry that exist, the pressure encountered in the industry, the threat of new entrants,
HR PLANNING4 threat of substitutes entering the market and lastly the bargaining power of buyer and suppliers. In this case, prospector strategy has a pre-emptive approach to rivalries this admits that competition is sharp. The strategy also prepares the company from threats by new entrant and their effect into market by upholding a flexible structure. HR can fight under the prospector strategy on recruitment process through focusing on innovation to ensure the substitutes entering the market do not pose a threat. Porter’s Five Forces disclose that the prospector strategy can help Motors & More, Inc. be discreetly appropriate to grip the fears of opposition as well as that of new entrants through elasticity and invention.
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HR PLANNING5 References Marja-Liisa, P. (2010). A Comparative Study ofHRManagers' Competencies in Strategic Roles. International Management Review, 6(2), 29-35. Shameem, S. (2018). Winning onHRAnalytics – Leveraging Data for Competitive Advantage. South Asian Journal of Management, 25(1), 78-91.