First Course Assignment: Strategic Management and Planning

First Course
Name
Institution of affiliation
Date
First Course
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In the Towndrow and Vaishthe authors correctly identified a number of weaknesses. They noted that learners did not explore new media and constrained themselves to the computers in Class. The authors also noted that the use Wireless Laptops resulted in the teaching methodology changing to more of a lecture style presentation. Students further invested more in overt test preparations rather than in the actual learning CITATION Tow09 \l 1033 (Towndrow, P. A. & Vaish, V., 2009). The inability to use new media is a weakness because it inhibits the platforms through which learners can access content. The learners should be trained on mobile platforms. This would make the weakness a strength. The learners would be able to access content at any time on their mobile devices, regardless of where they are. This would revolutionize the learning process. The use of wireless laptops is a strength. The delivery of content however, affects the quality of the material. The delivery mode should be changed from a lecture style to a discussion paradigm. Where the lecturer engages the students in the lecture rather than rote delivery of content. The investment in overt test preparations indicates that the exam depends more on memorization. This can be changed, to an examination paradigm that requires learners to solve problems based on the material they have learnt. This would ensure that learners now learnt the course material rather than memorizing it.
The greatest weakness of the Turkish construction company is their perception of strategic management. The culture of the company does not believe in strategic management. This is a weakness since the company cannot prepare effectively for change in the future. This can be countered by deliberately deconstructing the current culture and replacing it with a belief in strategic management. The company staff should be trained in strategic planning. This would ensure the company is able to compete effectively in a globalized competitive environment. This can be done by creating and implementing a training program. The company’s greatest strength is the ability to create joint ventures. This strength can be leveraged by formalizing these into long term partnerships CITATION Kaz09 \l 1033 (Kazaz, 2009). This is a strength since the partnerships allows the company to benefit from the strengths of the other companies. The joint venture allows it to leverage its partners networks, processes, staff, machinery etc. these would enable it to compete more favorably. This ensures it can create products of higher quality, and price them adequately to ensure they remain competitive while generating profits.
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Strengths
•The Vietnamese workforce has deep cultural ties to the people and is loyal.
•The cost of labor is low, this makes it competitive in the global labor market.
•Vietnamese business practices protect firms from unfair competition where the government steps in to protect local firms.
Weaknesses
•The lack of technological advances means the firms are labor intensive rather than capital intensive.
• The Vietnamese firms are new comers to the market. This allows them to offer a new perspective with regard to their product offering. The firms can take more risks compared to the more established firms in creating their products. This provides them with a niche.
•The lack the financial capacity to support and implement projects demanding significant capital outlays.
•They also do not have the management capacity and the technology to support these projects.
SYNTHESIS
The strengths of the Vietnamese firms outweigh weaknesses. However, the weaknesses if they remain as such, will constitute a threat to the firms. Mechanisms must be put in place to take advantage of the strengths of the firm as well as changing the weaknesses into potential opportunities.
Opportunities
•The Vietnamese firm has opportunities through partnerships. The partnerships would provide it with access to finance, knowledge in design and construction technology. It would also provide it with the ability to set up mechanisms to monitor spending and cut back on corruption.
•The Vietnamese firms have access to cheap labor which allows them to produce goods at a lower cost. This, coupled with the competitive pricing of labor in the Vietnamese labor market makes it affordable to produce goods.
•The Vietnamese firms can partner with financial institutions to provide them with the financial capacity to take on large projects.
Threats
•The threats to the firms include the better quality services offered by foreign firms at a lower cost.
•Corruption and wasteful spending makes the Vietnamese firms uncompetitive in the market.
•The local laws which are protective of the local firms discourages the inflow of technology. Labor intensive practices are adopted rather than adopt technology. Where technology would make optimize work and create efficiency.
SYNTHESIS
The opportunities for the firms are significant. However, the threats to the firm create a potential quagmire for the firms. Where they remain unresolved they can and will lead to the firms losing out to the foreign competition. The threats should be addressed thus, allowing the firms to build on the opportunities.
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The case assignment on the L’oreal Company will collect information from leading academic journals. These journal will mainly be on the cosmetics such as; International Journal of Cosmetic Science, Cosmetics An Open Access Journal, the American Journal of Cosmetic Surgery etc. Other academic resources include leading cosmetology websites. The case assignment should discuss key elements of the company’s operations. A critical component should be the marketing of L’Oreal’s products. Noting enhanced competition of the cosmetic’s industry. The c...