EZ-Pleeze is a company that majorly produces potato and corn products and has been in operation for the past 20 years. The company has a strong value for employees and they are regarded as the first priority when making company decisions. Currently, the company has a number of strengths and limitations it is going through. Currently, the company enjoys a lot of support from its employees. This is a situation promoted by the high value that it places on them for instance through appealing salaries. It also has a widely known market presence generated from a huge budget spent on advertising. The company sets very low prices due to competition while spending highly on technology.
EZ-Pleeze offers goods at low pricing and provides high-quality goods. This has earned it a good relationship with customers that are highly satisfied with its products. The company has invested a lot in technology and hence has advanced technological products and processes. It also has a very satisfied workforce.
The company has labor-intensive processes of production which means that it has a huge burden of managing employees. It also has an extravagant yearly budget for technology and advertising which is responsible for its financial woes.
EZ-Pleeze has the opportunity to diversify the kind of products it offers to the market seeing that most of its products generate high satisfaction among consumers. The market also has competitors that are failing and there is also poor financial stability.
The government may increase tougher regulations which may cause the company to raise product prices to be in a position to adhere to such regulations. This may also mean the production process will be much more labor-intensive.
Figure 1: A breakdown of the strategic plan for EZ-Pleeze
Justification for Strategic Plan
The strategic plan identifies four items that should be considered and each requires a different set of resources (Vujicic, Vujicic-Tomic, & Klaric 2019). The first plan is cost-based pricing which, when actualized will enable the company to acquire a lean strategy of operations (Khalid & Sahu 2020). This will significantly reduce the costs of production and enhance the profitability of the firm. In addition, the company should increase its advertising which will improve its presence in the market. Currently, it faces stiff competition from other providers of similar goods in the market. Actualizing a higher budget for advertising will be critical in increasing sales for the business by a huge margin. This will lead to the exponential growth of the business at large.
The business should as well invest in research and development looking forward to coming up with new methods of production as well as products that are less costly. Finally, the business ought to consider acquiring automated units of production to reduce its high expenditure on labor.
Khalid, M. S., & Sahu, D. K. (2020). Pricing Strategies and Methods of Perishable Goods: A Critical Review. Studies in Indian Place-Names. Retrieved from https://archives.tpnsindia.org/index.php/sipn/article/view/317
Vujicic, M., Vujicic-Tomic, B., & Klaric, M. (2019). MEETING HALFWAY--COMPARISON BETWEEN COST-BASED AND DEMAND-BASED PRICING METHODS. UTMS Journal of Economics. Retrieved from www.utmsjoe.mk/files/Vol.%2010%20No.%202/UTMSJOE-2019-1002-07-Vujicic-Vujicic-Tomic-Klaric.pdf
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EZ-Pleeze: 20 Yrs of Valuing Employees & Prod. Strength/Limits - Essay Sample. (2023, Apr 06). Retrieved from https://proessays.net/essays/ez-pleeze-20-yrs-of-valuing-employees-prod-strengthlimits-essay-sample
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