After reviewing a conflict of a big company such as fuji film, our team got to the conclusions that many companies face challenges when it comes to adapting to new generations of customers and the need to satisfy them by innovation in their own products. Many companies do not adjust of implement a good strategy to overcome such challenges. This is why we generated 4 questions that will categorize the problem we were handed in and later on find the ultimate solution for fuji film company and also other companies.
First of all, we need to know the company’s mission, vision statement and their strategy.
A) Benchmarking. (n.d.). Retrieved August 21, 2018, from http://caroline-vanarwegen.squarespace.com/benchmarking/zhg9oru6a3enebzyrg66ppkw2fzhfh
- What challenges do a company faces when diversifying?
Throughout the whole process of implementing a new diversification strategy into a company can involve matters like, diverse culture, formulated policy to support diversification programs not in agreement with implementing strategic decisions made in diversification programs, conflict of the organizational role, leaders being resistant to change, poor coordination between management, other employees and stakeholders.
Firstly, companies might wish to create and exploit economies of scope, in which the company tries to exploit its exciting resources and capabilities in other markets. Companies may also want to use diversification strategy to spread financial risk over different markets and products, so that the entire success of the company is not reliant on one market or product only.
B) ELECTOR, A. M. (2012, November). CHALLENGES OF IMPLEMENTING DIVERSIFICATION STRATEGY AT THE MUMIAS SUGAR COMPANY, KENYA. Retrieved August 21, 2018, from http://erepository.uonbi.ac.ke/bitstream/handle/11295/12287/document(9).pdf?sequence=3.page 3,4,5
Trust of customers, Exportation, Transportation, Marketing, And Research. New market, new product, means more production and more resources. Great investment, and a gamble in risk.
2.What helps a company grow?
C) Moorman, C. (2012, July 02). How Does Your Company Grow? Retrieved August 21, 2018, from https://www.forbes.com/sites/christinemoorman/2012/07/02/how-does-your-company-grow/#565bc13755e3
Collaboration: Now a days there are many smart people with different perspectives and experiences. The best way to overcome any organisation challenge is to tap that vast knowledge, working together to solve problems.
Communication: Top management should be reachable to employers for any doubts or any requests. Employees need to stay connected, so events between co-workers, or a platform in which they all connect is a good idea.By getting together and talking – both about work and their lives – it builds both a trusting and productive environment.
Focus: Too often we cease to “shiny object syndrome.” If everything is a distraction, however, nothing can really be accomplished. It is important to identify the end goal, create a plan to make it happen, and then remain focused on that plan moving forward.
Be open-minded: to solutions, different approaches, and new perspectives. Conversations and reflection are key to get to solutions everyone together.
D) Lyons, A. (2017, December 08). 5 Tips for Overcoming Challenges in Company Growth. Retrieved August 21, 2018, from https://www.shiftcomm.com/blog/5-tips-for-overcoming-challenges-in-company-growth/
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