Report on Achieving Professional Goals: Analyzing Competitive Forces

This report delves into the strategies for achieving professional goals, focusing on identifying and overcoming potential threats. It utilizes frameworks such as SWOT analysis and Porter's Five Forces to assess competitive dynamics, including buyer bargaining power, supplier power, the threat of substitute products, and the threat of new entrants. The report emphasizes the importance of understanding these forces to develop effective strategies for market share acquisition and profit realization. Furthermore, it highlights the application of value chain analysis to identify competitive advantages and the role of balanced scorecards in monitoring progress towards strategic goals. The report underscores the need for continuous adaptation and a willingness to invest in achieving professional objectives, providing a comprehensive overview of strategic planning in a competitive environment.

Running head: ACHIEVING PROFESSIONAL GOALS 1
Achieving Professional Goals
Student’s Name
Institution

ACHIEVING PROFESSIONAL GOALS 2
Abstract
It is hackneyed to say, but accurate, that remaining attentive on our career destinations, where
one wants to go and who they want to be when reaching the achievable goal, which mostly
entails the commitment to the expedition. That is not forthright or tranquil to do. Among other
stuff, when enchanting on this pursuit, there is wisdom in striding back and reflecting on queries
that aids in building a firm foundation to stand on. Being factual to oneself and vision as they
move along the gamut of where one is and where he/she want to be is, not astonishingly, the
guiding attitude. Checking out my energy is a tactic of having a dependable way of presenting up
is perilous to achieving objectives. This influence is not continuously deliberated in goal setting
calisthenics, and yet, it is an actual vital element. This sequence of questions enquires one to take
a close expression at this feature (Čabarkapa et al. 2017).
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Contents
Abstract.......................................................................................................................................................2
Introduction.................................................................................................................................................4
Competitive rivalry..................................................................................................................................4
Buyer’s bargaining power........................................................................................................................5
Bargaining power of suppliers.................................................................................................................5
Threat of substitute products or services................................................................................................6
Threat of new entrants............................................................................................................................6
Conclusion...................................................................................................................................................7
References...................................................................................................................................................9
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Introduction
Threats are dynamics in the external atmosphere that inhibits an individual from achieving
his/her professional goals. Classifying these risks is the fragment of the calculated planning
process of "SWOT analysis" the exploration of strengths, weaknesses, opportunities, and threats.
Theses analysis helps in the development of approaches to overcoming professional risks, either
by applying one’s powers to reduce defenselessness to threats or by disregarding internal
weaknesses that make business vulnerable to intimidations/threats. Understanding the modest
forces, and their essential causes divulge the roots of my business's current lucrativeness while
providing a context for anticipating and swaying competition over time. According to
(Sutherland 2014, p9), a whole industry edifice should be as much a competitive concern to
tacticians as their company's situation.
Goals that have yet to achieve in future is ensuring that being in place to develop new business
ideas within the organization or venture. My content rivulet is a fantastic place to attempt out
new ideas. Thoughtful of repositioning my essential product, Trying to better express my sole
selling intention and see an original problem with the prospect that my customers might dearth
me solving are the most goals worth achieving. In my business, I will enhance that I am in a
position to acquire most great market share for the commodities distributing to my clients hence
improving profit realization.
Competitive rivalry
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This force scrutinizes how intense the competition presently is in the marketplace, which is
dogged by the number of prevailing competitors and what separately is capable of undertaking.
This threat is high when there are impartial a few businesses similarly selling merchandise or
service. In every establishment, there must be a rivalry in the market and for this aspect; In this
case I should be prepared on measures to overcome the threat. First, there should enhance quality
products/services in the market, which in turn will assist in acquiring the most extensive market
share in the area. Having large marketshare I personally will have competitive advantage over
my competitors (Liyanage et al. 2017).
Buyer’s bargaining power
Bargaining power of buyers is one of Porter's forces theory, which acts as a threat to
professionalism. The bargaining influence of buyer’s ability of the clients exerts pressure on
commerce by demanding to diminish price and increasing the product superiority. I must
distinguish consumer’s want and necessity. To increase sales volume manufactures trail
changing consumer trends. The negotiating power of buyer will be high when the large size
buyer are concerted buying the product or amenities. Therefore, a fragment of enactment
management, which assists much in overcoming threats, is locating goals with associates of the
team. Bargaining power of the customers can be diminished by producing quality goods that are
customer satisfactory in the sense that the price will be worth purchasing.
Bargaining power of suppliers
The haggling power of supplier is labeled as the market of inputs. The supplier provides raw
materials and apparatus to the company than the corporation can carry out its business processes.
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When these suppliers power is high, it means I will start relying on just a few providers, or there
are no replacements available for supplier's invention. When an operative's goal get distinct
regarding an administrative KPI, it guarantees that what currently am doing, gets well ranged
with the organizational goalmouths. When establishing my rewards and acknowledgment
practices, I must make sure that what am rewarding ties unswervingly to the KPIs set (Berglund,
Blackne & Jansson 2014 p13). For the sample, if am measuring public on how well they pact
with customer criticisms, then pleasing them for lowering statistics of complaints complicates
the message trying to drive. Contrariwise, if my organization wants to fascinate new customers,
then I might have a KPI that processes how many new clienteles are intrigued each week.
Contingent on the situation, a well-aligned recital system may recompense employees based on
the number of new customers they individually help to fascinate.
Threat of substitute products or services
This force studies how relaxed it is for consumers to adjust from a business's merchandise or
service to that of a contestant. It views how many participants there are, how their expenses and
quality compare to the occupational being scrutinized and how much of a profit those contestants
are earning, which would regulate if they can lower their overheads even more (Dobbs 2014
p33). In overcoming this threat, I should expect at all try to ensure the quality of products I
produced are the best to win the loyalty of my customers. Even when there are substitute goods
in the market, the customers will go for the best quality products, hence giving me advantage
over competitors.
Threat of new entrants
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New entry tends description as a new contestant or firms in flowing into the industry. To
diminish the danger of further entrance, the company desires to create a good brand appearance.
If my corporation has a decent brand image, then purchaser would like to halt with the brand
merchandises. Balanced scorecard, which is strategic planning or management structure that
used lengthily in industry and occupation to align business happenings to the vision and
deception of the association and monitor organization recital against strategic goalmouths. The
balanced scorecard can benefit myself as an investor to know how well my corporate is running.
Also, will allows myself to measure economic value auxiliary and operating income. I should
reminisce that in a directive to achieve the goal takes some form of our detriment (Berglund et al.
2014). There is of sequence a price for accomplishment, and one must be enthusiastic to pay that
worth in the form of modification of some category. However, many folks do typically brawl
with this.
Conclusion
Value Chain examination can overawe the limitation of porter' five powers. It describes the
activities that take residence in a business and narrates them to a scrutiny of the competitive
assets of the business. In addition, I will get assistance in pursuing competitive recompenses.
Porter's defined value chain has two different groupings of activities that is a crucial activity and
support accomplishments. According to (Yunna 2014 p799) the original deeds of the company
include inward bound logistics, procedures, outbound logistics, marketing and auctions, and
services. The nourishment activities involve accomplishing, human resources managing,
expertise development, and stable substructure. Value Chain analysis will benefit the company to
pursue economic advantages.
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References
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Čabarkapa, M., Marković, Z., & Petrović, N. (2017). VALUES AND EXPECTATIONS FOR
ACHIEVING PROFESSIONAL GOALS AMONG HIGH SCHOOL GRADUATES.
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Resource Development Review, 15(3), 317-339.
E. Dobbs, M. (2014). Guidelines for applying Porter's five forces framework: a set of industry
analysis templates. Competitiveness Review, 24(1), 32-45.
Oyebanji, A. O., Liyanage, C., & Akintoye, A. (2017). Critical Success Factors (CSFs) for
achieving sustainable social housing (SSH). International Journal of Sustainable Built
Environment, 6(1), 216-227.
Ram, J., & Corkindale, D. (2014). How “critical” are the critical success factors (CSFs)?
Examining the role of CSFs for ERP. Business Process Management Journal, 20(1), 151-
174.
Sutherland, E. (2014). Lobbying and litigation in telecommunications markets–reapplying
Porter’s five forces. info, 16(5), 1-18.
Yunna, W., & Yisheng, Y. (2014). The competition situation analysis of shale gas industry in
China: Applying Porter’s five forces and scenario model. Renewable and Sustainable
Energy Reviews, 40, 798-805.
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