Managing Strategy, Operations and Partnerships

This study material discusses managing strategies, operations, and partnerships in the context of Thermax limited. It includes a Pest analysis of Thermax limited, Porter's five force model, and the development of survival and success factors. Explore this material to gain insights into managing strategy, operations, and partnerships.

MANAGING
STRATEGY,
OPERATIONS AND
PARTNERSHIPS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
COMPONENT 1.............................................................................................................................3
Pest analysis of Thermax limited.................................................................................................3
Porter's five force model..............................................................................................................4
Development of survival and success factor................................................................................4
REFERENCES................................................................................................................................5
Books and journals.......................................................................................................................5

INTRODUCTION
Managing strategies and operation is an important function within the organisation which is
related to using different kind of strategies to improve the functions and achieving the objectives
in the current business (Nurmala, de Leeuw, and Dullaert, 2017). Under this, the chosen
organisation is Thermax, it is performing its function as an engineering company which involve
energy and environment. Company was founded in 1966. In this current report there is
discussion on appropriate proposal which can be used by the organisation in order to maintain its
functions and achieve the objectives by analysing the external and competitive environment.
MAIN BODY
COMPONENT 1
Pest analysis of Thermax limited
Political factor: These are those factors which are related to the political conditions of the
area where the organisation is working. In relation to THERMAX manufactured there are
various political which are important for the organisation profitability. In context of organisation
it is operating in manufacturing boilers to the harness the power of steam. There is political
stability within a majority of the nations where the organisation is work. This helps the
organisation in maintaining a stable policies and manufacturing its products in an appropriate
manner from managing the functions (Holloway and Parmigiani, 2016).
Economic factor: Economic factors are those which are related to economic conditions.
It includes factors like GDP growth, market demand, interest rates and many others. In context of
organisation, GDP growth at market demand is major factors which impact the organisation.
This is because THERMAX manufacturing products which are directly impacted to GDP
growth. Here, Organisation has to manage the production services according to GDP growth of
the nation where it is operating.
Social factor: Social factor can be defined dost factors which include the cultural aspect
population growth rate age distribution career attributes and emphasis. This factor impacts
positively on THERMAX (Alonazi, 2017). This is because of nitrogen is using environment
friendly and health friendly technology which is helpful in achieving objectives related to society
and fulfil its responsibility towards the society.
Technological factor: Technological factors are those which include technological
changes research and development, activities, automation, technological innovation and many
others. In context of THERMAX, organisation is operating at higher profit. This is helpful to the
firm in achieving its objective and managing the function in an appropriate way so that it can
work accordingly. Organisation is using full automation and highly developed technology. This
is helpful to the form in managing the environment and achieves its objectives (Cohen, 2017).

Porter's five force model
Porter’s five forces model is a Framework which is used by the organisation to identify the
factors which are related to competitive advantage with the market. In context of THERMAX,
there are various factors within the porter’s five forces which are related to the organisation. The
first practice is threat of new entrants. In context of THERMAX, this factor does not impact on
the organisation because of using innovative ideas which reduce the chances of new entrant’s
industry and maintain higher profitability (Hitt, Xu and Carnes, 2016). Threats of substitute are
a second factor and the porter's five force model which also act in favor of THERMAX. This is
because organisation is cellular using product which is not easier for the competitors to arrange
substitute of organizational product. Third most important factor in porter's five force model is
power of customers. In context of this, where is low number of customer to the organisation
product which acts in a negative menu for the first because this grants more power to the
customer for bargaining with the organisation. Bargaining power of suppliers is also a factor in
the porters 5 force model which impact on the decision-making ability of form within the market.
In context of THERMAX, the bargaining power of suppliers is comparatively low to
organisation. This is because there are not numbers supplied to the services offered by the firm
which provide bargaining power to the organisation and reduce the power suppliers.
Competitive rivalry is also act as a porter's five force model factor which impact on the
organisation where it related to the competency within the industry (Heizer, Render and Munson,
2017). This factor does not impact the performance of THERMAX within the market because
organisation is using effective innovation within the firm where there is no big rivalry of the
organisation.
Development of survival and success factor
In context of THERMAX, there are number of success factors which can be use by organization
in relation to achieving its objectives some of these are mentioned below;
 Proper use of sustainability is prime function which helps organization in managing
profitability and using its resources.
 Bringing innovation at workplace is also a success factor which can be use by
THERMAX to achieve its business objectives.

REFERENCES
Books and journals
Nurmala, N., de Leeuw, S. and Dullaert, W., 2017. Humanitarian–business partnerships in
managing humanitarian logistics. Supply Chain Management: An International
Journal.
Holloway, S.S. and Parmigiani, A., 2016. Friends and profits don’t mix: The performance
implications of repeated partnerships. Academy of Management Journal, 59(2),
pp.460-478.
Alonazi, W.B., 2017. Exploring shared risks through public-private partnerships in public health
programs: a mixed method. BMC public health, 17(1), p.571.
Cohen, E., 2017. CSR for HR: A necessary partnership for advancing responsible business
practices. Routledge.
Hitt, M.A., Xu, K. and Carnes, C.M., 2016. Resource based theory in operations management
research. Journal of Operations Management, 41, pp.77-94.
Heizer, J., Render, B. and Munson, C., 2017. Principles of Operations Management:
Sustainability and Supply Chain Management (Global editon). Pearson.