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Introduction of Management - PDF

   

Added on  2020-05-16

12 Pages2855 Words153 Views
Business DevelopmentLeadership Management
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Running Head: Introduction of ManagementIntroduction ofManagement
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Introduction of Management 1ContentsIntroduction.................................................................................................................................................1Answers to the questions.............................................................................................................................11.Illustration of strategic management used by Carsales....................................................................12.Competitive advantage gained by Carsales......................................................................................23.External and internal factors helping Carsales in achievement of success.......................................44.SWOT Analysis helpful to CEO for the growth of company...........................................................4Conclusion...................................................................................................................................................6References...................................................................................................................................................7
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Introduction of Management 2IntroductionThe present scenario talks about the strategic management activities used by Carsales to initiatesuccess in their business. Further, the task explains the competitive advantage gained by thecompany in the target market. Below-mentioned answers explain the activities of the company inthe external market. Answers to the questions1.Illustration of strategic management used by CarsalesStrategic management refers to the activities implemented by an organization according to theirgoals and plans prepared for the achievement and success of the organization. Strategicmanagement approach helps an organization to achieve success in the competitive market. Thisapproach is implied in the business process of Carsales due to which they achieved success in themarket. This process increased the effectiveness and efficiency of the organization which helpedthem to increase the returns for the organization (Jeon, et al., 2016). The case study ‘A Stand-Out Success’ talks about how the company Carsales used the strategicapproach for the success of the business; the company was introduced with an aim to change themethod of selling cars through classified ads. The CEO of the Greg Roebuck innovated the ideato sell the cars by posting the ads online. In that time The Trading Post was the only famousnewspaper which was frequently used by people to post ads for the cars and look for car ads inmarket. Being the lonely source for online ad posting, the CEO of Carsales looked it as anopportunity to enter the target market and make money. Thus company Carsales was originatedin the year 1997 with an innovative idea to post ads on their online website (Robbins, et. al.,2016). The management then developed vision and mission. The aim of the company was toimprove the quality, quantity and customer satisfaction in the market. This helped them toincrease the number of customers in the market as well. The strategic vision statement helped thecompany to tell people about the objective of the company in the target market. Apart from that,the company developed the vision to compete with the biggest firm posting ads of cars in themarket and post ads for 3000 cars on their website as well. Afterwards, the strategic approach
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Introduction of Management 3helped the company to implement the vision of the organization in their business process(Fleisch, Weinberger, and Wortmann 2015). Considering to the fact that very few people used internet at that time acted as a risk for thecompany but then Carsales targeted the right people who actually used internet on daily basis.This helped them to adequately provide the services in the market. The approach of the companywas strategically implemented in the external environment by initiating unique selling points inthe regular activities of the organization. First USP of the company was successful application ofthe business model in the organization. The business model has formulated in such a way that itassisted the vision and mission of the organization. Greg adequately looked at the opportunitiesand used them in the business to shift the focus of customers towards the online car ad postingprocess (Martins, Rindova, and Greenbaum 2015). The model of the company explained theinnovative technology which they used in their process to increase customer satisfaction. Thesecond USP was the technology which they used in their process to create high-quality ads in themarket. With the use of such technology the CEO was able to implement his idea in theirbusiness process. Further generation technological implementation in the market where noorganization aimed to develop their business the use of internet also helped the organization togain the first mover advantage which assisted them in future when competitors entered in themarket. The last and third USP which Carsales initiated in their process was the use ofinnovation in every activity which they perform in the market. This process differentiated everystep of the company in the market due to which sustainability was a created in the market, alsothe management aimed to create sustainability in their activities which displayed their vision torun in the long run. Thus, in this way the company utilized their USP to create implementation ofstrategic activities in the market (Christensen, Raynor, and McDonald 2015).
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