The competitive environment of any firm involves components both outside the firm and that are inside it. Strategies need to be implemented when a firm plans to compete against other companies; it needs to acknowledge the financial, physical, and human resources needed since they are the factors that impact the success and the smooth operations of the firm in the global environment. The paper focuses on the performance targets of B Company, the strengths and weaknesses, alternative strategies to be implemented, and the competitor strategies.
The five performance targets include how to maintain a lean workforce to ensure that the firm’s costs are controlled. The other aim is to compete for customer awareness by ensuring that the firm invests moderately while advertising (Blockeel, 2016). Another performance target is ensuring maximum effort is attained through incentivizing sales adequately, especially the ones directed to staff. Every firm’s objective is ensuring that their products have the highest quality in the market. Thus, investing heavily in assets, liabilities, and shareholding equity to ensure that B Company’s products are rated highly in the market is also another target. According to the credit and image ratings of year 16, company B experienced a percentage decrease in comparison to the previous years (Phadermrod, 2019). Through this, it calls for a performance target of determining how the rating would be improved.
The primary competitors to company B are companies D, A, and C. The strengths and weaknesses of company B were pricing, advertising, customer service, and distribution. Team B’S pricing was set by natural variables existing in the market. However, to match the products offered to suit in the competition, prices had to be increased (Blockeel, 2016). It was implemented while maintaining product costs and ensuring a comfortable gross margin. Team B implemented a directive advertising campaign while in the competition. Also, it ensured that a standard level of customer service was achieved while capitalizing on the aspect of the business. In terms of customer service, company B failed to take advantage of the competition’s customers and instead provided standard client service. This mistake was mainly attributed to less familiarity with how the category functions.
Team B should have approached the strategies they used differently to have an edge over their competitors. In their distribution, they should have fully maximized the potential of intensities in their channel, by doing this they would have maintained their competitiveness, and this would have provided them with the edge they lacked in certain areas and boosted their chances of success (Phadermrod, 2019). The company also needed to do better in areas such as the stock price and equity returns. Implementing measures such as using convertible debt, and avoiding buybacks these methods would assure investors of the stock and ensure high profits.
The competitors all had different strategies, but what they had in common was that they focused on their margins and ignored Company B’s market share (Blockeel, 2016). They were able to acquire significant sales by sticking to their price range. They realized fewer costs and gained a higher market share than company B.
Conclusively, the game analysis of company B thoroughly covered its strengths, weaknesses, recommendations, and alternative strategies. This was a management tool for the company to learn from their mistakes and turn their shortcomings in this game to maximize their success rates.
Blockeel, C. (2016). A fresh look at the freeze-all protocol: a SWOT analysis. Human Reproduction, 31(3), 491-497. .https://academic.oup.com/humrep/article-abstract/31/3/491/2384863
Phadermrod, B. (2019). Importance-performance analysis based SWOT analysis. International Journal of Information Management, 44, 194-203. https://www.sciencedirect.com/science/article/pii/S0268401216301694
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