This sample will let you know about:
- Discuss about the Identification of company's resources and capabilities.
- Discuss about the Porter's five forces.
Every organisation is required to manage the activities and business performance in order to increase profitability. The aim of company is to manage activities and operations effectively so goals can be achieved effectively. There is needed to have good command on vision and mission so objectives can be performed effectively. To understand about how to manage and operate a business successfully and environmental factors that occurs in business q-bot has been selected that is technology based company provides robotics underfloor insulation services to homeowners and landlords (Gifford and et. al., 2019). This organisation uses new technology by applying insulation with minimal disruption which reduces heat losses. This organisation is operation its business successfully by understanding demand of people and provide them kind of products. Report discusses about focus on industry which is relevant to the company's core business and identification of company's resources and capabilities. Ask for Assignment help UK from our experts!
Identification of company's resources and capabilities (Covered in PPT)
The core business means area or activity which is founded by a company in order to focusses on its business operations. The core business of q-bot is to use robotics and AI for inspecting, monitor and maintaining the health of buildings and infrastructure. To use new technology for addressing the opportunity that can see in the built environment. This helps to make journey good by doing underfloor insulation.
Macro environment – This is consider as a condition that exists in economy as a whole rather than a particular region. It involves various factors that has impacted on business whether positively and negatively. The macro environment analysis in context to q-bot business are as defined:
Political- This factor is related to political stability, government regulations, stability and tax rates in a nation that can affect a business. Q-bot is managing and operating a business successfully because UK's government is stable who maintain constant tax rates that helps to run a business and adopting technology effectively.
Economical - The economical factor involves inflation rates, interest rates, employment rates, GDP and exchange rates that affects the business. The interest rate in UK is less and constant which helped q-bot business to get loan from institution at low interest and run their business.
Social- It involves cultural trend, attitudes, lifestyle, demographic factors and income group of people that needed to focus by organisation for operating business effectively. This factor might be a challenge for q-bot organisation as demand of people are changing day by day where other companies also try to provide insulation services according to customers. By considering this factor operation of chosen organisation can be a challenges that can reduce profits.
Technological - The needs and wants of people are changing in market who are demanding new products and services. Herein, q-bot has taken a good place to introduce robotics and artificial intelligence that helped to operate a business independently. With the help of new technology organisation becoming able and automating to perform well in competitive environment.
Therefore, from the above discussion it has analysed that, this is important for q-bot to focus on macro environmental factors that can help to understand which factor can affects operation and management negatively. Wit the help of this managers be able to face challenges and run all activities effectively.
Porter's five forces: This model identifies the opportunities and weakness of organisation by using forces that helps to maintain the profitability and productivity. This model is using by q-bot organisation in order to analyse environment and getting competitive advantages by operating business such as:
Competitive rivalry: This means competitive organisation are available in market that create competition and reduces profitability. In context to q-bot has many competitor such as Fetch Robotics, Rethink Robotics, Savioke etc, are providing technical services. This can be threat for q-bot to face the competition. Therefore, manager of such organisation is require to focus more on technical services and should increase productivity.
Threat of new entrants: Q-bot is robotics company that uses robots to spray insulation under floor with minimal disruption to people's life. In UK, there is no threat of new entrants because to adopt this technology organisation need to invest huge amounts, time, resources and capital which may be success or failed. So this is risky for new entrants that limits them to enter in to new market (Maduna and et. al., 2019).
Power of suppliers: In context to q-bot the bargaining power of suppliers is high because in UK there are less suppliers who are providing raw material to run business. So such suppliers charge high amounts that can be threat of organisation and it reduces profits.
Power of buyers: People are demanding variety of services while constructing their building which create an opportunity for q-bot to provide them underfloor insulation services. This organisation is providing different services that attracts customers and they pay extra amount also (Ko, Liu and Chen, 2019).
Threat of substitutes: In UK, there is low threat of substitution because q-bot is providing attractive services to the customers which are underfloor insulation which helps to reduce the heal and provide energy.
Therefore, from the above it has defined that q-bot is using all resources and capabilities in order to manage and operate business successfully. This organisation is taking competitive advantages by offering best quality of technical services and increasing performance (Biz and et. al., 2019). Need Assignment Samples?Talk to our Experts!
From the report it can be concluded that organisation needed to operate their business successfully by adopting various techniques and skills. All activities should be manage and maintain effectively by implementing plans and actions. Moreover, macro environment should be analysed by using PESTLE analysis. Moreover, Porter's five forces is used to get the competitive advantages.
Read Also - Hospitality and Venue Management