Chapter 12 : corporate culture and leadership

Salam

For this entry, i would like to share about another topic which is corporate culture and leadership. However, this week there are no tutorial and lecture. So. i will share about my opinion from the online forum in GOALS. Have fun ! :)

Corporate culture ca assist in executing strategies in an organization. This culture is also important because it influences the firm's actions and approaches to conducting business. Therefore, if i am one of the top managers, i would like to make sure that all the employees have a good workplace environment. 

First of all, if we have a good surrounding, automatically it will motivated our employees to work together with the top management to gain profit for the company. There are many benefits that both can get. Such as it will increase their performance like promotion, bonus and so on. 

Besides that, they also will have their own responsibility to the company. They will work honestly to the company if they are feel comfortable with their environment. So, the relationship between employee and employer sometimes play a main factors to make sure successfully of the company. There should not have any conflict between employee or employer that will make a huge gap among them. If so, employee will not have any interest to the job. 

In conclusion, i believe that having a good environment in the workplace is a big influence to all employees and also to the top management. Therefore, in future if i am one of the top managers, i will make sure this kind of values will practice in the organization.

Thank you and salam :) 

Chapter 8 => Corporate Strategy

Salam to all readers ^^

For this entry,  i would like to share about the topic that i have learned today. Its about the corporate strategy in chapter 8. First of all, lets recap what is the corporate strategy. Basically, company use corporate strategy when its related or unrelated business in order to sustain in the market. Then, the top management level is normally plan for their corporate level strategies.

In this chapter, we have learned about several step in diversification strategy.

Other than that, there are also options for this strategic diversification.  

• Sticking closely with the existing business lineup and pursuing opportunities presented by these businesses. For example, Sime Darby. There are having many sub business unit like plantation and also produce product for end customer.
• Broadening the current scope of diversification by entering additional industries. We can take example from UMW Holding. They are having four core business like heavy equipment, oil and gas drilling services, automotive assembly and distribution and automotive component and lubricant.
• Divesting some businesses and retrenching to a narrower collection of diversified businesses with better overall performance prospects. We can see Air Asia company. Air Asia have narrow their business scope or unit nowadays. Other than they provide flight, they are have football team, hotel and so on.
• Restructuring the entire firm by divesting some businesses and acquiring others to put a whole new face on the firm’s business lineup. For example is Malaysian Airlines Holding Berhad. Before this, they also have their flight catering. But, when they are having lost, so they appoint another company to manage the food for their passenger and they can only focus for they flight.

Till we meet again ^^

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Sharing session wih founder of Oshima Restaurant

Good morning and happy weekend to all readers...^^

For this entry, i would like to share about what i have got during the sharing session with founder of Oshima Restaurant last week. First of all, let me introduce about this restaurant. This restaurant has start their business on year 2009 and was located at Shah Alam. The food that they served are base on Japanese food. Such as fusion food and authentic food.

In doing her business in food industry, there are several obstacles that they have to face. Firstly, when they would like to get the Halal certificate. What are the owners have tell to us that supplier in Japan are refuse to apply Halal. Other than that, it is very high cost to certify oversea supplier. Next is financial. They have got a problem when they would like to apply bank loan whereby request of strong background in financial and also they must identify what are the food business risk. Other than that, they also have facing a problem to gain trust from suppliers and a major problem is human resource. The owner have a difficult to find a worker and also difficulty to find trustworthy worker. 

Besides that, the owner also share with us what are the common reason for business failure. 

• have no knowledge about business
• do not intend to study
• have no sense of customer satisfaction
• little or no budget for promotion / HRD / training

To be succesful in doing the business, the owner said that we must :

• have your niche but understand needs
• have a good location
• increase brand awareness
• promotion
• make a full use of social media, website or blog
• do not ask for money (ikhlas for Allah) money will come

So, thats all for this entry. Untill we meet again on next entry ^^

Salam :)

Chapter 7 : strategies for competing in international markets

Lets continue another chapter. ^^

This chapter is about what are strategies that we have use to compete with the international markets. As we know that international markets are very big. So, there are several reason why that company would like to enter to international markets. The reasons are : 

• To gain access to new customers
• To further exploit core competencies
• To spread business risk across a wider market base
• To achieve lower costs through economies of scale, experience, and increased purchasing power. 
• To gain access to resources and capabilities located in foreign markets. 

So, there are the main reason why the company want to expand their business outside. Before they can expand their business, they must plan their best strategies to compete with the market outside in order to maintain their business. 

There are three strategic approach for company in competing internationally. 

1. Multidomestic strategies : is one in which a firm varies its product offering and competitive approach from country to country in an effort to be responsive to differing buyer preferences and market conditions. It is a think-local, act-local type of international strategy, facilitated by decision making decentralized to the local level.
2. Global strategies : is one in which a company employs the same basic competitive approach in all countries where it operates, sells much the same products everywhere, strives to build global brands, and coordinates its actions worldwide with strong headquarters control. It represents a think-global, act-global approach.
3. Transnational strategies : is a think-global, act-local approach that incorporates elements of both multidomestic and global strategies.

hH     However, there are advantage and disadvantage for these three strategies. So it is depend to the company to manage well for their business outside. ^^ Salam...

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Chapter 6 : STRENGTHENING A COMPANY’S COMPETITIVE POSITION: STRATEGIC MOVES, TIMING, AND SCOPE OF OPERATIONS

Salam to all readers ^^

For this entry, i would like to share about what i have learned before i back to my hometown for midsem holidays. I have learned about two topic. There are strengthening the company's competitive position in chapter 6 and strategies for competing in international markets in chapter 7.

To be a strength company's in market, there are many challenges that the company's have to face. As we know that, nowadays, there are many a big companys' outside. The company itself also must provide their solution to face all these matters.

So here i would like to share about strategic offensive principles that i have learned in last class. ^^ This strategic offensive is option when a firm or company to improve market position.

• Focus on relentlessly building competitive advantage and then converting it into sustainable advantage.
• Apply resources when rivals are least able to defend themselves.
• Employ the element of surprise as opposed to doing what rivals expect and are prepared for. 
• Displays a strong bias for swift, decisive, and overwhelming actions to overpower rivals. 

To be continued....

Generic Strategies (KFC)

Salam and hai to all readers :)

For this entry, i would like to write and share about another topic that i have learned last Tuesday. Its all about generic strategies. Ok, for sure i think that some of us already knows what is the generic strategies. But for me, it is new term for me because before this i never know what is exactly meaning of generic strategies. First of all, lets go to the meaning first.

What is generic strategies?? In a simple meaning, generic strategies is the basic approaches to strategic planning that can be adopted by any firm in any market or industry to improve its competitive performance. So, by having this strategies, any industry or company can compete with their competitors outside.
There are four categories in generic business strategies which are broad cost-leadership, focus cost-leadership, broad differentiation and focused differentiation.

An example of industry that i choose is KFC. For me, KFC has use broad differentiation to compete with their rivals. If we are talking about KFC, automatically in our mind will think about chicken right? so, here we can see that KFC is already has their brand name in market. KFC also use the original taste and recipes to be unique.

Also, sometimes KFC always improve freshness and food flavor enhancement . Due to that, KFC is able to offer their customer with something attracting that can attract and maintain their customers to try. So, their customer are getting a better eating experience through great tasting real food, freshness and quality.

Besides that, KFC also have many provide variety of food that we can choose. They are always give us a different taste because to ensure customer flavor and expectations from customers are met. So, customers will not bored with the food that served by KFC and they will come to try it. The price also affordable, therefore the customers are willing to pay for it.

Till we meet again in next entry. ^-^

Final project ~ ICEPS9