Analyzing the Strategic and Global Competitive Environment of JLL

This report provides a comprehensive analysis of JLL's strategic and global competitive environment. It begins with an overview of JLL's business functions and activities, followed by a detailed marketing plan that incorporates market research, competitive analysis, and SMART objectives. The report also explores JLL's internal strategies, core competencies, and value chain analysis. Furthermore, it includes a VRIO analysis to assess JLL's competitive advantages and strategic capabilities. The report concludes with recommendations for JLL to enhance its competitive position in the international market, emphasizing the importance of SMART objectives in achieving sustainable growth and profitability.

Running head: Strategic and global competitive environment
Strategic and global competitive environment

Strategic and global competitive environment
Executive summary
JLL is an American professional services and investment management company that is mainly
specialized in real estate. Here is the discussion about the business functions and activities of
JLL Company. An effective and dynamic marketing plan for JLL Company has been discussed
in the task. In today’s era, the company is maximizing or increasing operating income and profit
globally. The paper also explains the VRIO analysis, internal strategies, value chain analysis and
core competencies of JLL Company. The strategic capabilities for JLL Company also have been
briefly discussed in the task. The paper also outlines that how SMART objectives play a
significant and vital role in gaining competitive benefits in the international market.
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Table of Contents
Executive summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Recommend a Marketing plan for JLL........................................................................................................4
Marketing mix for JLL Company................................................................................................................8
Internal and effective strategies of JLL Company.....................................................................................11
Core competencies and values...................................................................................................................12
Value chain analysis..................................................................................................................................13
Strategic capabilities of JLL Company......................................................................................................14
Recommendation.......................................................................................................................................15
Conclusion.................................................................................................................................................15
References.................................................................................................................................................16
Bibliography...............................................................................................................................................21
Appendices................................................................................................................................................26
Profile of JLL............................................................................................................................................27
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Strategic and global competitive environment
Introduction
The primary aim of this paper is to outline and explain the significance and roles of the
marketplace to struggle with competitors in the marketplace. Here is also discussion about JLL
Company ‘s operations and activities because the company has decided to explore the business
widely. The marketing plan plays a vital role in initiating the business activities and operations in
other countries. The paper also explains and discusses the key target audience and competitors
for introducing new and innovative services globally. The internal and external analysis is done
by JLL Company. The paper also depicts ample of information related to real estate services and
products. Beside this, strategic capabilities, VRIO, and value chain analysis are done by the
company to reach its maximum level of outputs. Moreover, monitoring and controlling is done
by JLL Company to carry out the functions and activities of the business. More detail of the task
has been elaborated below.
Recommend a Marketing plan for JLL
A marketing plan is an inclusive document or blueprint that explains a business marketing and
advertising efforts for the coming years (Westwood, 2013). It also includes the business
activities that are involved in attaining specific marketing goals and objectives within a given
time period. The key factors of marketing plan include market research, target market,
positioning, competitive analysis, budget, market strategy and metrics (Kolb, 2013). SWOT
analysis and pestle analysis are done by the company to make a unique and effective marketing
plan in the marketplace (Morgan, Vorhies, and Mason, 2009). The marketing plan helps the firm
to expand and flourish the business activities and operations globally (Krishna, 2011). The
marketing plan for JLL has been discussed below.
Market research
The market is one of the significant factors of the marketing plan. The market research is any
formulated effort to collect information about the key target audience and markets as well. It is a
significant and effective element of business strategy (Chen, Fay and Wang, 2011). Along with
this, market research includes social ideas and research and it is a systematic process of gathering
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Strategic and global competitive environment
information about organizations and individuals as well (Wiid and Diggines, 2010). It also uses
statistical techniques and methods to get supporting material and data. It is noted that the United
States is the largest countries in the world therefore, people demand for properties in a large
extent. Hence, it is essential to conduct market research and survey for analyzing and evaluating
the demands and requirements of the key target audience (Verhoef, Reinartz and Krafft, 2010).
The market research plays a significant and vital role in the expansion and development of the
business across the globe. It has been found that JLL provides ample of services to the customers
in the international market (Vorhies, Morgan and Autry, 2009). It also helps the company to
increase and improve its efficiency and effectiveness by rendering unique and dynamic real
estate services to the customers in the competitive market (Crouch and Housden, 2012). To
analyze and evaluate the market, SWOT analysis and pestle analysis are done by JLL Company.
The strengths and weaknesses of JLL Company have been detailed below.
Strengths
 The company has reliable and faithful suppliers.
 High skilled and talented workforce used by the firm.
 Strong and unique dealer community and effective free cash flow.
Weaknesses
 High erosion rate in the workforce.
 There is high and intense competition in the global market (Fernfortuniversity, 2018).
Competition in JLL Company
It is the second element of the effective and dynamic marketing plan. It helps in determining and
analyzing the financial position and brand image in the global market. There is high and
immense competition in the real estate industry (Compatably, 2018). Therefore, high and intense
competition would be faced by JLL Company. The main competitors of JLL Company include
Cushman & Wakefield, Colliers international, Knight Frank, HFF, SVN and Marcus and
Millichap. All these competitors may affect the business activities and operations of JLL
Company (Compatably, 2018).
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Strategic and global competitive environment
If JLL Company wants to become a leader in the real estate industry then it should make unique
and effective marketing strategies globally. Along with this, the company is investing a huge
amount in the training and development coaching of the workers to gain competitive benefits in
the international market. The training and development coaching also helps in improving and
enhancing the performance and effectiveness of the workers (Compatably, 2018).
Along with this, advanced and innovative technologies and resources are used by the firm to
attract and retain a maximum number of clients in the international market. By using innovative
and advanced technologies, JLL Company has been able to provide attractive and luxurious
services to the clients globally. The firm makes unique and innovative strategies, policies and
plans to compete and strive with competitors in the marketplace. It also uses a differentiation
strategy to distinguish its services from the competitors (Compatably, 2018). This will help the
firm to make a dynamic image in the minds of the customers. Along with this, the firm needs to
take effective and dynamic actions to beat the competitors in the international market. It will also
help the company to strive with rivalries in the global market. It is essential for the company to
hire qualified, talented and skilled workers to perform tasks and duties in a hassle-free manner.
In this way, JLL has been able to make a strong position across the globe (Compatably, 2018).
Marketing strategies
The marketing strategy is one of the empirical strategies to overcome the competitors in the
marketplace. The marketing strategy includes advertisement and promotion sessions, seminars
and programs. By using marketing strategy, JLL Company has been able to accomplish the
desired goals and objectives in the competitive market (Kumar and Shah, 2009). It is suggested
to the company to use promotional and advertisement strategy to capture the entire market across
the globe (Sánchez-Fernández and Iniesta-Bonillo, 2007). The promotional and advertisement
strategy includes direct marketing, website promotions, public relations, trade shows, traditional
and non-traditional sources (Kanagal, 2009). This strategy helps in increasing awareness among
the people in the marketplace. The advertisement and promotional strategy help JLL Company to
accomplish the long-term targets and goals (Keller, Parameswaran and Jacob, 2011).
Marketing objectives
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Strategic and global competitive environment
The goals and objectives play a fundamental role in carrying out the business activities and
operations successfully and effectively. It is stated that marketing objectives are widely
interconnected or interlinked with the promotional and advertisement strategy (Gulati, 2010).
The main mission of the company is to build and develop a reciprocal relationship with the target
audience and further, the company wants to increase and enhance profitability and revenue. The
vision of JLL Company is to build a better and bright future for the clients. Along with this, the
organization wants to be a world leading professional service company by creating spaces, cities,
and buildings where everyone can thrive. The company is spreading awareness among the clients
related to the attractive and unique services globally (Gulati, 2010).
SMART objectives for JLL Company
SMART objective is one of the important parts of effective and unique marketing plan. Firstly,
the company should evaluate and analyze the SMART objective to attain rivalries benefits in the
market (Foray and Goenaga, 2013). It is recommended that JLL Company should ensure and
analyze the desired goals and objectives to attain the maximum level of output. Further, it also
helps in improving and enhancing the progress and growth of the company (Foray and Goenaga,
2013). The SMART goals for JLL Company have been discussed below.
Specific: It is stated that goals and objectives which are set by the company should be specific
and unique in order to gain competitive benefits. The goals and objectives must be established by
the company after considering the needs and requirements of the business. It will help the firm to
satisfy the needs and wants of the customers. The SMART objectives of JLL Company are to
deliver superior performance and develop and execute investment strategies that meet the
specific objectives of the clients. Further, the company also wants to deliver uniformly high
levels of services widely (JLL, 2013).
Measurable: After setting the long-term objectives, the company measures and evaluates these
objectives and goals. Some standards and benchmarks are set by JLL Company to attain the
desired goals and targets (Foray and Goenaga, 2013). The top management and leaders compare
the new standards and benchmarks with existing standards and benchmarks within the
organization. If there is any variation found then effective and unique measures are taken by the
company (Foray and Goenaga, 2013).
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Strategic and global competitive environment
Attainable: The goals and objectives that have been set by the top management at JLL Company
should be attained in the given time period. The company should focus on the realistic goals and
objectives to increase efficiency and effectiveness. Unrealistic goals and objectives that cannot
be attained by the firm should be ignored (Foray and Goenaga, 2013). It is stated that JLL should
identify and measure the strengths and weaknesses to build and develop effective and dynamic
goals and objectives. In today’s era, the company is making unique and dynamic policies and
strategies to attain desired objectives and goals.
Realistic: One of the significant aspects of SMART goals is realistic. After considering and
analyzing the performance and productivity, realistic and suitable objectives and goals are built
by JLL Company (Foray and Goenaga, 2013). If the goals and objectives are realistic then it will
help in improving and enhancing the brand image and goodwill of the firm. Further, it also helps
in gaining rivalries advantages in the international market.
Time specific: Time-specific plays an effective role in attaining the desired goals and objectives.
The objectives and goals should be accomplished in the given specific time period. The specific
time period has been fixed by JLL Company to accomplish the long-term objectives and goals
(Foray and Goenaga, 2013).
After setting the SMART goals and objectives the company can introduce new services and
products in the global market (Evans, 2010). Aside this, it is recommended that JLL Company
should focus on marketing mix strategies to make aware the key target audience globally
Conzemius and O'Neill, 2009). The company is finding various ways to be a global leader in the
real estate industry. By using marketing strategies and SMART goals, the firm has been able to
meet the needs and demands of the customers. It also helps in differentiating its products and
services from the rivalries (Conzemius and O'Neill, 2009).
Marketing mix for JLL Company
The marketing mix plays an empirical and fundamental to cope up with rivalries in the
international market. Furthermore, it also helps in standing out against the various competitors in
the market. The marketing mix for JLL Company has been discussed below.
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Strategic and global competitive environment
Product: One of the significant strategies that can be initiated by the company is product
strategy. The company should focus on the services while expanding and flourishing the business
in a large extent. The company needs to provide a service to buyers by educating them
throughout their effective and dynamic decision-making process. The firm should also provide
local property sales data and various tools such as marketing updates to the customers across the
world. In this way, JLL Company can attract the customers to buy the services and products
globally (Bruhn, Schoenmueller and Schäfer, 2012).
Price: It is a price that paid by the customers for the product and service. It is stated that property
prices may also fluctuate constantly. Understanding and measuring the seasonal sales cycles and
rental migration patterns are significant because it helps in providing suggestion to the clients as
when they demand and want. Therefore, the company needs to conduct research and survey
regularly in order to get ample of information about the market and clients as well (Lehtinen,
2011).
Place: It is a location where the service or product is made available to the customers in the
market. It can be either a digital presence or physical location but it is noted that real estate is a
combination of the two. Place plays a vital role to establish a market leading or growing real
estate brand.
Promotion: It is an effective effort of a business to promote and encourage the popularity of the
product and services in the market (Dominick, 2010). Digital marketing, online promotion,
advertisement are done by JLL Company to encourage and promote the products and services in
the global market (Mulhern, 2013).
People: These are people who directly or indirectly involved in the brand of the product or
service. JLL Company conducts training and development sessions and programs for attracting
the maximum number of clients in the international market. Apart from this, a positive and
favorable culture is maintained by the firm to encourage people in fulfilling the roles and
responsibilities (Gensler et al, 2013).
Physical evidence: The Company puts the standardized processes to reduce and eliminate the
various types of errors and mistakes. It helps the firm to track the effectiveness and efficiency of
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Strategic and global competitive environment
spend across multiple channels and ensure the results for programs and campaigns (Huang and
Sarigöllü, 2014).
Process: These are the processes and procedures that JLL Company should take to deliver or
offer a product and service to the customers (Weinberg and Pehlivan, 2011). By using an
effective and unique process, the company can capture and attract various types of the customers
(Mulhern, 2013).
Budget
Budget is the most significant part of the marketing plan. The company cannot make an effective
marketing plan without setting the appropriate and unique budget for the activities and
operations. Budget is a major part that used by the firm in marketing strategies and programs.
The budget is set by JLL Company for advertisement, promotions, social media channels and
events.
New Marketing goals
The marketing goals are significant part of the marketing plan. The new goals or objectives of
JLL Company are discussed below.
 Rising sales by 15% in the first 3 months of execution of marketing plan
 Rising customer base by 22% in the first 6 months of implementation of the marketing
plan
 Targeting to all the customer segments.
 Enhancing and promoting customer satisfaction
 Fulfilling the needs, wants and expectations of the customers in the international market.
 Attaining competitive benefits by providing innovative and unique services to the
customers across the world.
 To attain long-term mission and vision in an effective manner.
Monitoring and controlling
The last stage of a marketing plan is monitoring and controlling. After making an effective and
innovative plan, the company needs to monitor and evaluate the activities and operations. It is
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very significant to enhance and improve the organizational performance and effectiveness
(Rothaermel, 2015). By monitoring on the activities and operations, the company has been able
to measure and identify the threats and opportunities of the market. Aside this, it is also essential
to identify and assess the effectiveness and efficiency of the strategies and approaches in the
global market (Rothaermel, 2015).
If the company uses assessment techniques, models and methods, the firm has been able to
eliminate the future challenges and risks of the market. The monitoring and control by JLL
Company are successfully and effectively carried on through the balance control card methods
and techniques concentrating separately on the following four perspectives:
 Customer perspective
 Financial perspective
 Internal perspective
 Learning and innovation perspective
The evaluation or assessment techniques and methods help JLL Company to maintain a dynamic
and exclusive brand position in the marketplace (Rothaermel, 2015).
Internal and effective strategies of JLL Company
The strategic management is the managerial responsibility or authority to attain competitive
benefits by optimizing the internal resources and capabilities while capturing external
opportunities and ignoring external threats (Hyken, 2011). It is noted from the various studies
that JLL Company uses ample of internal strategies for aiming the development and expansion of
the business globally (Küng, 2008). The company maintains an effective code of conducts and
ethics to run the activities and operations across the globe. Furthermore, it is also needed to
analyze and identify the core values, competencies, weaknesses and strengths in the competitive
market (Park and Hwang, 2016). With the help of internal strategies, the organization can
introduce new and innovative services in the international market (Ramdani et al, 2018). VRIO
analysis and value chain analysis are done by the company to grow and survive the business
actions in the global market. It also helps in satisfying the expectations and desires of the
customers in a large extent (Najib Razali and Mohd Adnan, 2012).
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Strategic and global competitive environment
Core competencies and values
The core competency is a significant concept in the management theory. It may be defined as a
harmonized combination of multiple skills, talents, and resources that differentiate a company in
the workplace and further, it also helps in overcoming the rivalries globally (Ljungquist, 2007).
The core competency is an essential part of JLL Company that helps in attracting a maximum
number of the employees and customers as well (Enders et al, 2009). The core values of the
company include dignity, ethics, teamwork, collaboration, respect, patience, accountability, and
dedication. The core values and competencies help the firm to sustain the wide range of
customers across the world. Apart from this, the core competencies also provide support to
enhance and increase the base of the customers widely. VRIO analysis is used to evaluate the
circumstances inside the organization. Further, it also helps in identifying competitive
implementation and possible potential for improvement in the given area or for a given resource
(Kozlenkova, Samaha and Palmatier, 2014). VRIO is one of the significant framework or tools
used by JLL Company that has been discussed below.
Value
 It renders unique values to the customers across the globe.
 Services are fulfilled the expectations and needs of the key target audience.
Rarity
 JLL Company provides extra value added services to the customers in the marketplace.
 Innovative services and products are considered the rare capabilities that help in striving
with competitors globally (Mathur, Jugdev and Shing Fung, 2007).
Inimitability
 It is essential for the firm to provide innovative services to the customers and further JLL
Company is also responsible to analyze and identify the key target audience in the global
market.
 Inimitable capabilities are very costly and complex to imitate. Therefore, unique and
strict measures or actions must be taken by the company to gain competitive advantages
and accomplish the targets and goals (Mathur, Jugdev and Shing Fung, 2007).
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