The business world is dynamic and keeps on changing from time to time. For businesses to survive there is need to adopt relevant changes in the right time to ensure that they remain competitive and retain their market share. Technology and changing human needs are attributed to the speed in which businesses implement changes. The changes that businesses implements vary from one company to the other, the main aim of any changes are for the short-term or long-term benefits associated (McCalman, Paton, & Siebert, 2008, p. 8). These changes include relocation of the firm operation place, change of the human resources, changes in the top management, implementing a new operational structure and many more others. The changes can affect a part or the whole business. Regardless of the type of change that a company has implemented, the management must ensure that the firm benefits from the changes by ensuring proper administration of the changes. It is important for the management to carry out change management with a lot of carefulness because they can become a source of failure particularly when a poor research and development was conducted, or there was improper handling of the change. Every change has its unique benefits that the company involved receives. In this paper a discussion of the opportunities that manufacturing companies after the acquisition in Europe and being integrated into the United Kingdom-based companies arises is done. The acquisition companies are assumed to own interesting patents and have issues in sales or not effective equipment management.
Opportunities of the changes management
The changes of the business acquisition of the manufacturing companies in Europe and being integrated into a UK based company draws many advantages that may modify the performance of the company for a better performance. The manufacturing companies are characterized by inadequate equipment and challenges in sales. The basing of the businesses in the UK would help solve the problem with the following opportunities that arise.
Advance technology available
The basing of the companies in the UK provides a chance to have a high technology employed in the processes of the business. Manufacturing techniques and technologies that determine the success of the companies are available in the UK. There are available labor skills that can handle high-tech equipment in the companies providing an efficient and effective manufacturing process (UK Trade & Investment, 2014). Employment of the finest technology would help in the minimization of the costs that were initially incurred because of inefficient equipment and poor methods of managing the available technology. The chance of the companies to use better technologies gives them an advantage of producing better quality products. Better and higher quality products would help the companies come up with the improved market share as the products would attract more customers. The new technologies installed would provide the companies with an opportunity to produce more goods that were initially not being produced. It also helps in reduction of the power used and the general cost hence giving the companies a chance of making higher amounts of profits that would otherwise not have been realized if they did not use the advanced technology.
In the United Kingdom, most of the population uses advanced technology and marketing is easy. Basing the companies at the UK would bring it to the so-called financial hub of the Europe. With the high technology gadgets being in use, the idea of online marketing would be enabled by the available technology and the internets. Since most of the families in the UK have internet connections, marketing of products online makes it is easy for companies to reach most of the potential customers. The opportunity cuts on cost and time spend using other media of advertising that may pose some difficulty of reaching the entire customer on a timely basis.
UK market provides an opportunity for the manufacturing companies to sell their product online. Online business would be enabled by the internet connection and high usage of smartphone among the Britons (UK Trade & Investment, 2014). Smartphones enable one to shop online at any point. Given the companies are being based in the UK, the establishment of the online platform for selling would attract many UK citizens because of the trust consumers have on companies they know and within their reach. The confidence to use the online platform to shop from the companies by the people in the UK is boosted by the fact that in case they have issues it would be easy to reach the reach them as a manufacturer and receive the after customer services they may need. With the technology enabling them to establish online trading, they would also have the advantage of being near to the customer for fast delivery of services and goods ordered from their stores.
The UK has a large market for products from the retailers and companies. The large market provides the companies with an opportunity of possible nearby potential customers who can provide enough market for all the products being manufactured (UK Trade & Investment, 2014). The nearness to a large market provides the companies with an advantage of less cost that is associated with availing goods to the market. The cutting of the cost would increase the efficiency of the companies and increase the possibility of generating more profits.
The United Kingdom is composed of population from diverse cultures that provides the companies with an opportunity to produce different types of products and still have a market. The diverse cultures also give the companies a chance to have continuous innovation since the consumer needs are diverse hence enabling it to diversify risk associated with having few products in the market. The UK provides a strong market for the products of companies based in her territories, for example, the strong market provided to blackberry and Mitsubishi.
The UK is a center for many cultural practices and games that bring many visitors who would provide a market for the companies. The games held in the UK may be international or local, but they always provide a market opportunity for products of the companies. Some of the games that have been held recently include Olympics and world athletics. They attract people from all over the world who are ready to spend on local products hence giving the companies based in the Kingdom had a chance to sell their products.
Favorable tax rates
The United Kingdom has one of the most friendly corporate tax rates as compared to other countries in Europe with a rate of 20 % (UK Trade & Investment, 2014). Basing the manufacturing companies in the UK gives that an opportunity to pay a less corporate tax that would help in saving part of the companies earnings. Deciding to have the companies based in the UK would be a massive positive decision on the corporate tax payment a factor that has made any companies go abroad. The decision would save the company from looking for ways of reducing their tax burden because it is favorable in the UK hence reducing the stress associated. The tax rates are favorable with numerous agreements with other countries in the world preventing double taxation.
The government gives companies tax credits for research and development. The tax relief encourages an opportunity for the companies based in the UK to look to look for a way of advancing and having unique market positions as a result of the research and development incentive from the government. The basing of the manufacturing companies in the UK allows the company to have the advantage created by the tax credit. Hence, it will be a higher a chance of having research and development in place.
The UK prides herself with an innovative culture with one of the best universities in the world. The universities collaborate with companies in carrying out research and development and also providing one of the most creative generations of students. Establishment of the companies in the UK brings an opportunity of getting quality cheap research and development that may become the sources of success of the organization. The opportunities offered by the universities in the UK are unique to the companies in the Kingdom, and the change of growth is high.
The creative nature of the population also provides the company with an opportunity to have new innovations that may solve future problems that may face the business (UK Trade & Investment, 2014). The opportunity provided by the community is valuable for any manufacturing company because in the case of a unique innovation by their staff, they may obtain patents rights to the products that may remain profitable for a long time. The government encourages innovation and charges relatively lower fees and tax than other countries in the Europe. There are lower fees as well as easy methods of securing a patent on an innovation hence the government encouraging innovation.
Reliable corporate management culture
The government of the UK encourages a transparent corporate governance to protect the interests of the shareholders. There few issues that arise as a result of conflicts of interest of management and the shareholders. The mitigation of the conflicts of interest means that the companies in the UK have good managements rarely misappropriate the funds of the shareholders. In case managers mismanage funds, they are prosecuted and pay for the damages cause. In the cases it happens, it is discovered at a very early stage because of the high level of transparency expected. The basing of the manufacturing companies in the UK will benefit from the transparency and the good corporate governance hence, doing away with the inefficiency experienced in the management in the current operations. The benefit of the good corporate governance helps the company future growth.
Stable and reliable economy
The UK has one the most stable and reliable economies in the world. Establishment of businesses in the UK provides the companies with an opportunity to experience the stability of the economy. For a success any business, political stability is essential and determines the future of the businesses and also the sustainability of the future operations. The historical stability enjoyed in the UK economy gives the future business a possibility of having the same hence the possibility of success in the development of the business.
The kingdom enjoys the reliable economic ability to support businesses. The basing of the companies in the UK gives the business an opportunity to enjoy the reliable economy and operate in an environment where its products have a potential and able economic support. The stability of the economy also assures the business that there is a possibility of continued future growth and existence.
The establishment of the companies in the UK gives the company an opportunity to be able to hire the best possible employees who suit the strategies of the company (UK Trade & Investment, 2014). The change of basing the acquired companies in the UK brings an opportunity of hiring the employees that the suits the set strategies of the company because of the flexible labor laws in the UK. The company can decide to employ part-time employees or permanent employees depending on the goals set the requirements of the labor forces of the company. The labor laws in the UK allow employees to come into agreement with the employers, and the laws that have to be observed are minimal giving the business an opportunity to...
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Opportunities Raised By Change Management in Manufacturing Companies after Acquisition in Europe and Integration Into UK. (2021, Mar 15). Retrieved from https://proessays.net/essays/opportunities-raised-by-change-management-in-manufacturing-companies-after-acquisition-in-europe-and-integration-into-uk
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