Case study
The mid-sized company chosen is
based on its ability to provide an e-commerce website. Customers have access to
a variety of products and can purchase any product through online ordering.
Because it is an e-commerce company, it is based on the availability of various
products such as household and other related products such as home and garden,
consumer electronics and accessories.
In a business where management
has limited employees' freedom to express their ideas, the leadership style is autocratic. The management or higher authority is the only one who can
participate in making the best decision.
(see we have used the case study while keeping in view the idea of Alibaba but we have taken it as a medium size company so that we can analyze its performance)
Identify the key characteristics of the company and its market context - Business SWOT analysis to become a global service business
Strengths
|
Opportunities
|
|
In today's modern world, the strength of
the business is based solely on the use of an e-commerce platform. It is
necessary to comprehend the significance of having an e-commerce platform. We
will be expanded once the company has access to an unlimited number of
customers or consumers worldwide. The company's main strength is based on its
use of an e-commerce platform that is accessible to customers all over the
world. Also, because every business is different. organisations
must adopt a leadership style that is appropriate for the business concept (Zhao et al., 2018). The business is based on
an autocratic leadership style, which is good for the business to understand
the needs and demands of the customers and then make changes; the employers
can make suggestions but cannot participate in decision-making due to the
business's style. Another strength of the company is that it
is using an e-commerce platform at a time when many businesses are closing
due to the lockdown and climate change conditions. It is critical for the
business to pursue the ongoing process going concern concept, as this is the
company's main strength. because it adheres to the concept of providing
opportunities for businesses to grow through e-commerce. As a result, regardless
of the circumstances, the company will grow. |
Because the company
has an e-commerce platform, it has the opportunity to gain global customer
loyalty. It is based on a website that is also accessible via the application
for an unlimited number of customers. It also gives you the
opportunity to understand where customers can go for online shopping. Whenever
there is a bad situation caused by the weather or another factor. |
Weaknesses
|
Threats
|
|
The main disadvantage of using an e-commerce platform is there because
so many customers prefer to shop in-store. It is not a good option for those
customers to browse products online and then order them at their doorstep.
Similarly, there will be new competitors on the online platform. As a result,
having the challenges across is another weakness for the business. |
The threat to a
business is based on the physical presence of stores with very similar
products to buy while having the physical appearance of the product as well
as the threat of a newcomer. As a result, entrepreneurs are devising new
ideal marketing strategies to attract more customers. The threat to
the business is present when it is operating on the online platform because
there are numerous issues such as consistency with spam, viruses, and spies (Liu
et al., 2021). It includes having a quick response to websites so that it
does not take long to open any of the products on the customers' lists
and they never return to websites that take a long time to load. A timely
response is important for the business because it can become a significant
opportunity (Chiu and Cho, 2019).
However, if it is not handled properly, it can become a threat to the
organization's goodwill. Customer want
to have the shopping through the online platform but there are customers who
are afraid of using their credit card information on the different platforms
due to their sensitive financial data. It is also
critical to recognise the thread of various entrepreneurs working together.
Even at the most basic level, today's strategies are primarily based on
understanding the needs of customers in order to have great dealings and
bonds with customers. so that they personally have a better customer
relationship. and it is actually growing their business while having a
significant negative impact on the business operating at a higher level.
|
Suggest a brief Corporate Plan for the firm, for the next 12-24 months
Business corporate plan for 12 to 24 months
Business
corporate plan is more critical than the traditional way as it include IDEAS
and SCALE effort to understand both internal and external challenges. The
business corporate plan to be exponential firm is essential to make but there
is a need to have the critical evaluation of both internal and external to the
sticks in order to make the better plan (Ismail 2014).
Internal Characteristics
First
12 months should be given to the internal characteristics to be evaluated and
understood. Also, it will follow the external characteristics as well.
Interface
|
the business interface is based on
essentially understanding the needs of the customers and then designing the
website accordingly, so that customers can easily reach out to the prescribed
or any data Product |
Dashboard
|
The dashboard is primarily used to
comprehend customer feedback as well as staff member suggestions (Mahdikhani and Yazdani, 2020). As a result,
it is critical to conduct internal evaluations every third month so that real
suggestions and feedback from customers and employees can be provided to make
the business more effective. |
Experimentation
|
Li (2019) in the e-commerce
business, experimentation with marketing strategies to reach out to different
customers is important. The marketing strategy must be updated every six
months in order to attract customers and make them aware that they exist in
the market.
|
Autonomy
|
The business has a good leadership
style based on the autonomous style, which is the critical leadership of the
leader fully giving himself or herself the authority to make business
decisions, so it is better to spend time with the business and then make the
strategy. |
Social
|
Being socially responsible is
important for business (Widiandita and Ketut,
2020). Giving value to products relating to words such as a green
environment and other strategies can thus improve the internal environment of
the business, so there should be a strategy for at least the next five years
so that it can be achieved and shared.
|
External Characteristics
External
character has a higher value and is therefore more necessary to consider and
work on to gain profitability and market goodwill.
Staff members
|
Staff members play a
significant role there, and the first three months of each year should be
dedicated to them.
|
Community /
crowd
|
Karine
(2021) they can become dedicated and skilled enough for the customers based
on their needs and demands, and the communities where the customers live must
be taken into account. The business can understand the product's need and
customer demand based on the community or crowd present for the business's
product. |
Algorithm
|
Every six months, the business
algorithm is required to evaluate and comprehend the performance. However,
performance evaluation is also important for understanding where the
e-commerce business can go in terms of sales volume increases as well as
liabilities. |
Leased assets
|
Businesses that do not want to have
leased assets are currently forming healthy collaborations with all of the
different brands in order to offer their product to the commissioner to the
website business. |
Engagement
|
Customers and society must be
engaged, which is only possible with better connectivity with the customers.
Products must be available everywhere in the world to meet the needs of the
customers. According to Smith (2020) there
is a need for genuine bonding, which can only be achieved through a better
marketing strategy. It is also founded on providing superior services.
|
Shared value chain – Initiatives for modalities and impact on economy and society
Redefining business productivity
The redefinition of productivity
in the business is based on the productivity of the employees. Because workers
are the most important factors in the company, the company is solely based on
e-commerce platforms such as a website. It makes no mention of the product's or
services physical presence (Kramer and Porter,
2011). As a result, there is a better work environment through the
online platform where the workers who work in an office to provide services to
customers where they need to have an online ordering of the products that they
have with the good.
Product redefinition has a
greater impact on the economy and society as a whole (Tobon and GarcÃa-Madariaga, 2021). Because productivity
redefinition is based on understanding the needs of customers before developing
another strategy based on providing better products and services, On the other
hand, the redefining product is also based on providing workers with a more
positive and efficient work environment.
When the employees of any
company are satisfied and motivated enough, they will have a great time at
work. Because they will also provide a better time for society and their
families. As a result, it will have a positive impact on the country's society
and economy.
Relationship with customers
When they do not have good relationships with their customers, the business cannot grow effectively. As a result of the activity, there is a need to understand the word person so that they can feel motivated and satisfied at work and can go for understanding the better relationship.
Reconceiving the product and service
It is critical for any business
to achieve its vision and gather objective evidence based on employee and
customer satisfaction. As a result, understanding the shared value chain is
critical in order to create value for the business. Understanding societal
needs such as safety, environmental impact, education, health, learning,
disability, and housing is critical.
When any organisation is moving
toward a better understanding of the product's redesign. It is to create value
for society, so the product should be based on any commission or portion to be
donated for the welfare of disabled people or the education or health of the
country's people.
It is critical that the products
offered to customers are suitable for their needs. The concept of society as a
concept of shared value will also have a greater impact on the minds of the
people working to meet the needs of the customer (Gao
and Liu, 2020). As a result, there is a need to understand the communities
living below the poverty line or who are neglected for some reason so that an
online platform can create market-based solutions for problems in society that
are known but not highlighted enough to resolve them.
Local cluster development
Local cluster development is
critical for any business. It will be impossible for the company to grow on an
international scale if it does not have local customers to satisfy. However, no
such concepts of local cluster development exist. It is critical for the company
to stay in touch.
The company is responsible for
creating shared value opportunities so that local people can get job
opportunities and can also have a positive impact on society through its
business.
Essentially, it is based on
having the economic clustering or cluster initiator capable of capturing the
attention of consultants, government, and the Academy. They understand that if
the online platform offers discounts on books and other educational materials
or healthy items, the government will also contribute so that they can be a
part of our organisation.
Business risk parameters – Critical analysis
There are various risk parameters associated with the e-commerce business. And the E-Commerce craze has taught businesses to think about the majority of their risks. Because it is critical to understand how important digital commerce is for different companies and industries to use in order for the global economy to survive, but there are risks associated with using those digital forms as well.
Economic uncertainty
There is no doubt that
E-Commerce has an impact because products are available on the online platform.
However, if there is a state of lockdown all over the world or in a specific
area, it is impossible to ensure a better supply chain. It is also a challenge
for the mid-sized company because there are so many challenges for the company
not being the largest and having fewer resources to ensure a better supply
chain for the customers.
When there is a website or
application available for users, it is the most important risk parameter to
analyse and evaluate when moving into the E-Commerce business. However, it is
critical that the product be sold to so many customers all over the world
because it is critical to have the customers selling while understanding the
economics certainly timely.
Selling through one channel
There is a significant risk.
With There is a significant risk. With E-commerce is a single channel through
which a product can be sold, whether via a website or an application. Because it
is a medium-sized business, the website must be checked on a regular basis in
order to function properly.
Running out of the stock
There is no doubt that any
mid-sized company can run out of stock due to a high demand from customers for
a specific product. As a result, it is the risk parameter that is a challenge
for the business to understand and fulfil.
It is common in the online
platform for businesses that use E-Commerce that providing or shipping the
incorrect order to the wrong person or customer can be a human error. It can be
aggravating for both the person who receives the order and the other person and
customer who does not receive the product on time. There is a needle to be
pushed in order to have a timely valuation, but it is a major risk parameter
for the digital commerce business.
World-class customer experience
E-commerce is available to any
individual, small, medium, or large business. As a result, any company's
customer experience should be world-class. Because even a small company, that
is offering product shipment to any part of the world can do so without
requiring the customers' participation while shipping the order on time and
with the same quality.
Order management
For medium-sized businesses that
sell their products all over the world via their website or online platform.
Because of the large number of orders from various countries and customers, the
major risk is based on order management. It is difficult to manage orders and
understand feedback or complaints about orders being delayed.
Business leadership plan for 12 to 24 months
For any organisation, leadership
plays a critical role in understanding the true performance of the business as
well as the performance of the workers so that it can be evaluated where they need
to have training or any other changes in the organisation or at the workplace.
So the main strategy for the business organisation is based on understanding
the needs and demands of the customers who place orders while viewing the
products online.
It is necessary to have charismatic and democratic leadership. However, the current leadership style is based on an autocratic style in which most decisions are made by top management without taking into account the suggestions of employees or workers. Although it has been stated that there is worker involvement, in the end, decision making is done by top management, implying that there is currently no such worker involvement.
|
Schedule |
Activity |
Description |
|
1- 6
months |
Changing leadership
style and staff recruitment |
Charismatic
leadership There is a
requirement for the leadership to interact with the workers. Because it is an
online platform, the most traditional way of having an autocratic style of
leadership will not work for the website or application where customers from
all over the world are placing their orders. It is a business opportunity
that can also increase customer involvement. and it will soon have better
investors as well, so that the company can become a corporation that works on
a global scale. However, this
is only possible if the company is committed to pursuing a change in its
autocratic leadership style. It is the traditional leadership style in which
the leaders were directive in nature and told the workers what to do and when
they needed to change their working methods. However, it is critical to
recognise that workers are the front players for the organisation,
particularly for digital platform workers, who know the true responsiveness
and needs of the customers.
|
|
|
Modern leadership style |
The modern style of leadership
requires teamwork with worker participation, so that workers who are
efficient enough can provide feedback and participate in decision making.
because they actually understand the needs and demands of the customers and,
through complaint, suggest answers. They are also gaining a true picture of
the business so that they can recommend specific changes to it that will be
beneficial. |
|
7 – 14 months |
Training, and Team
management |
Thus, 12 to
24 months are required for the planning of staff member recruitments, the
training of staff members, and the implementation of a better leadership
style at the workplace to form a better team. It is
critical for the organisation to first identify the staff members who are
truly skilled and qualified for the specific job description. It should not
be based solely on a mail-in request for the degree documents. However, keep
in mind that there are different competitors, even if they lack a degree or
efficiency. However, there is a need for masterminds who work on online
platforms where they can be a part of the organisation and understand the
market's needs. Therefore, it is necessary to evaluate the potential of each
employee thoroughly.
|
|
15 – 24 months |
Modern leadership style with an
efficient team |
Once the first six months are
spent on the recruitment and orientation of the staff members, the remaining
six months will be used to form teams based on different scales, such as a
call centre, which should be given to individuals who are efficient in
communication. Other departments, such as
order placement, should be given to staff members who understand the
calculations and account maintenance so that their skills can be used
effectively and they can also help each other. The cycle will be repeated,
and the organisation will benefit from working throughout the year and
continuing the activities to see a better outcome. The last six months of the
year will be dedicated to ensuring that each department has been managed in a
productive way and that the organisation is prepared for any challenges it
may face. |
References
Chiu, W. and Cho, H., (2019). E-commerce brand: The effect of
perceived brand leadership on consumers’ satisfaction and repurchase intention
on e-commerce websites. Asia Pacific Journal of Marketing and Logistics.
Available at: https://www.emerald.com/insight/content/doi/10.1108/APJML-10-2018-0403/full/html accessed on 30 December 2022
Gao, P. and Liu, Y., (2020). Endogenous inclusive development
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Ismail, S., (2014). Exponential Organizations: Why
new organizations are ten times better, faster, and cheaper than yours (and
what to do about it). Diversion Books. Available at: https://www.academia.edu/download/50924823/Exponential-Organizations.pdf accessed on 30 December 2022
Kramer, M.R. and Porter, M., (2011). Creating shared
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Karine, H.A.J.I., (2021). E-commerce development in rural and
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at: https://www.sciencedirect.com/science/article/pii/S0020025517310265
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December 2022
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