Report on Multinational Company - Rolex
18 Pages6508 Words91 Views
Added on 2020-07-23
Report on Multinational Company - Rolex
Added on 2020-07-23
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REPORT ONMULITNATIONALCOMPANY
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1A.) Comparative analysis of company and its competitive position in different markets. ...1B.) Issues required to consider while trading across the borders...........................................7TASK 2..........................................................................................................................................11A.) Company requirement in enhancing their business........................................................11CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONIn this competitive world, where industries are bringing various technology andinnovation which can help them to make themselves stable in market by competing with variousindustries. Although, company try to satisfy their customer in great manner so that they canmake consumer's a existing for longer period (Manova, Wei and Zhang, 2015). Different firm domake strategy and competitive analysis which can help them to compete with other entity andmanipulate enterprise to work harder and attain their goals and objectives in proper manner aswell. The report is based on ROLEX, it is a wrist watch firm and produce quality product andservices for millions of people. Firm was founded by Hans Wildorf and Alfred Davis in the yeararound 1905, although entity is having a approx. 2800 employees in organisation too.Assignment will include like knowing competitive position in market through making analysis ofdifferent things in market and it will also consider the issues which affect while trading acrossthe boundaries of country and what are the criteria is there which is needed to enhance businessand entity in proper manner as well. These are the things which help entity to work in greatmanner and thus it is required by industry to identify the culture and working scenario ofdifferent country. ROLEX even though a multinational company and working in proper formattoo and thus it comply them to work hard and make people satisfy with their product and earnhigher profits as well. TASK 1A.) Comparative analysis of company and its competitive position in different markets. Competitive positioning of any company refers to stand out differently from competitorsthat are present in the business environment. It enable them to create diversified products tosatisfy their customers efficiently (Yunus, Moingeon and Lehmann-Ortega, 2010). In order todetermine the competitive edge of ROLEX, they have to perform comparative analysis ofvarious markets where they have established their operations. ROLEX have to consider allfactors in order to carry out competitive analysis properly and accurately which is as follows: Locating competitors: It is very important to find out the number of competitor that isrendering similar services to their clients in market place. ROLEX have to examine thestrategies of their rivalries in order to study their policies and regulations implemented bythem. This aid them to perform accordingly. 1
Innovation R & D: Research and development department of ROLEX continuouslyconcentrate on launching new and innovative products to satisfy their needs and wants.Innovation refers to introduction of advanced and modern ideas so that they can able tostand apart from others significantly (Killing, 2013). There are number of conditions thatoccur which need proper attention so that proper research can be conducted accurately. (Source:- Competitive Analysis, 2017)Reviewing Financial position: Finance is a very important resource that is available withthe company and hence they have to manage it properly so that there is no wastage occurin the system. There are numerous risks that are present in business environment which isdynamic in nature and keeps on changing with time. Thus, it is essential to evaluate suchposition effectively (Scherer and Palazzo, 2011). Money is needed in almost everyactivity which is performed in the system. Strategies that are adopted by competitors: It is very difficult to survive in theenvironment which is full of number of competitors and therefore, it become2Illustration 1: Competitive Analysis
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