Hi, I need help with essay on Glo-Bus Company Analysis. Paper must be at least 1250 words. Please, no plagiarized work!
The Glo- Bus Company is a fully automated simulation where the team leaders are divided in teams to run a digital camera in a head to head competition with other companies. It competes globally with other companies. The major challenge for this company in trying to craft and execute a competitive strategy which will result into a respected brand image, keeping their company in contention for global market leadership, and producing financial performance. This is measured by its earnings per share, stock price appreciation, credit rating and return on equity investment and this calls for a proper strategy. The Glo-Bus application was an intriguing and challenging venture starting in the simulation where the team leaders were positioned well with good strategy and strengths in the first years. Despite the challenges in the first years, it struggled to adapt to the increasingly changing market conditions. Eventually, it gained an insight which would help in its future strategy formation and execution efforts (John, 1997).
As a co-management team, a plan of attack was formulated quickly to enable the company compete effectively with its competitors. A plan conference was then decided upon with all the managers of distinguished image. The company felt that this would be its most convenient opportunity for its team leaders to talk over its strategies which would help them come up with a plan of attack. This conference led to the birth of the company’s vision statement and I quote, “Distinguished imaging strives to be the global market leader in reliable technological and advanced digital cameras. We are focused on customer satisfaction on quality technological products and seeking to be the number one in the digital imaging technology” (John, 1997). By having this vision statement put in place, the team leaders worked with the notion of being unified in to a cohesive and coordinated effort. From a strategic perspective, they decided to offer quality products at a cheaper cost unlike the other companies. Its major goal was to use the best cost provider strategy in providing good to excellent product qualities but at a cheaper cost. This strategy has enabled the company compete with Beacon camera and Capture camera respectively in the sixth year. Its goal was to offer a quality entry level camera at a cheaper cost plus a higher quality multi feature camera at a reasonable price. This was only during that year alone but in the next year, the company would adapt a new strategy which included a combination of focused market niche differentiation and low cost strategy to be applied (John, 1997). Strength One of the quickest ways in trying to achieve the best cost strategy was to invest in a high quality workforce and major on the employee output. This was coupled with paying their employees at the high end of the pay scale and rewarding them in exchange for reaching a higher level of output. This was because with a higher input, it would definitely lead to improved product production and quality. Unlike its competitors, this would definitely be a plus to them hence compete effectively as can be seen in year seven. As a result of this logic, the company did not invest in the first three years in warranty periods as it expected the quality of the products to maintain lower quality claims. Therefore, in hindsight, the company might have missed a great opportunity in offering an extensive warranty programs at a lower claim rate due to the quality products. As a result of this, a corporate citizenship program was implemented by increasing the employee conditions and the community efforts in the following years respectively (Jennifer, 2000). As part of the initial product strategy, focus was on offering a strong number of camera models and concentration was initially on developing features of entry level cameras. This was definitely to offer a strong market share. A decision was made not to enter the multi feature