Strategizing Leadership for Market Success: A Case Study

Introduction

Operating in the market as a company can be quite challenging, considering the strategies that the company is using. From the case analysis, it is evident that there is a need to strategize on the leadership of the company. This is because there exists a leadership gap where the company decisions and moves in the market need to be directed by a board. This is likely to aid in providing a strategy to operate under competitive environments and enable the company to achieve its goals and objectives. Rica needs to consider a business environment where the market gap will allow them to increase their profitability within the shortest time in the industry. This can be conducted by ensuring that they are conducting enough research to enable them to identify the best markets where there are a few competitors (Jenter,67). This should as well consider the target market of the company since it is the sole way to realize the company goals and objectives.

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However, learning more about the available risks in the market will enable the management to come up with a risk plan that will help avoid making losses in the long-run. Risks are a threat to the company, and thus, the organization needs to list down some of the possible risks that they are prone to to have a clear path as they execute their activities in the market. In this way, Rica Company will have minimized the possibility of losses, and within a specified period, they will begin to earn profits as anticipated earlier.

On the other hand, building up a new facility is another step that will help the company in the achievement of its goals. This is because there is a higher likelihood that the output that was being produced before will increase (Jenter,50). In turn, this will create additional revenue for the company. In this case, the management can consider researching the tastes and preferences that exist in the market to be able to find out the type of cars that will sell faster in specific markets. The company will be able to come up with various models that will enable in meeting the expectation of the clients in the market. At this point, they need to consider some of the models that already exist in the market and monitor their performance as well. Also, there is a need to cut on the operational cost that is likely to reduce the revenue of the company. It is because the construction is expected to take part in the revenue of the organization, and thus, reducing some of the expenses will enable save more for necessary use in the future (Jenter,23).

Conclusion

In summary, decisions by the management of the company usually affect their performance as well. Therefore, conducting an in-depth analysis is always critical to ascertain the situation of the market and the move that the company needs to make to increase their output. Besides, dealing with competitors is another significant aspect that is often looked upon. It is vital to study the strategies that are used by the competitors to implement others that will help in earning more and reducing the competition that is created. Therefore, Rica should consider the above strategies and use them in the company to ensure that they can improve in terms of performance.

Work Cited

Jenter, Dirk, and Fadi Kanaan. "CEO turnover and relative performance evaluation." the Journal of Finance 70.5 (2015).