The report is prepared as a new consultant working for the international management consultancy. The aim of the report is to complete one of the consultancy projects and the project that has been selected is Bendigo Systems Ltd. The report includes the analysis of the strategic position of the company, recommendations for the issues that have been addressed in the file with the implementation of same.
Bendigo is a new innovative start-up company that brought the smart technology for assisting the growing ageing population and their careers. The company is considering the potential benefits of the Assistive technology for people with dementia and their carers within the home as the only beginning of possibilities (Bendigo, 2018). The company believes in offering the home safe services. Currently, the company is at the beginning of its development and looking forward to bring the technology and to expand the business. Bendigo company started their business operations in the UK and willing to expand in Australia, US, Germany and Norway.
The purpose of the study is to address or bring a need that is predicted to improve significantly in the coming years with this they are willing to expand the business in other regions. Being an International management consultant, the duty is allocated to support or assist the client with the Internal and external factors analysis of the Bendigo Company. Moreover, the suggestions related to the recommendation to enhance the business performance are explained by the implementation of the plan.
The methodology can be quantitative and qualitative research methods that are generally used in the report. In this report, the methodology is based on the qualitative research that helps in including the entire aspects of the Bendigo Company. Along with this, it will present the deep analysis of the findings that have been drawn from the internal and external analysis. This research topic helps in analysing the future opportunities in the near future.
An external environment includes all the external factors that influence or create an impact on working of the business and its operations.
PESTLE analysis describes a framework of macro-environmental factors that are mainly used for scanning the environmental components (David, 2011).
The government of UK is stable and this is the reason due to which the UK is one of the most successful nations in terms of the application of regulations, policy, and rule of law, government effectiveness and many others. Though, the recent referendum on Brexit might lead to a problem for Bendigo directly or indirectly. This change can bring the taxation issues for the company in the UK.
The major economic factors include the GDP of the country as in the year 2017 UK was worth 2622.43 billion US dollars. In addition, the GDP value of the UK signifies 4.23% of the world economy (Trading economics, 2018). Bendigo Company is also contributing to improving the GDP of the country by providing support to the growing ageing population and towards their careers.
The age demographic is one of the important social factors; in UK population reflects that the numbers of aged people are increasing. The rise in the aged people brings the rise in the need of health and social care services that are essential to address improved well-being and acceptable lifestyles for the families (Hollensen, 2015). Though, most of the people resist making use of the technological solutions. Along with this, challenges of social care are drastically increasing in the UK as the human contacts are reducing. This is one of the challenges which are faced by Bendigo.
The technology advancement can influence the working of the company (Dawson, 2014). In the UK, technology advancement is growing and the company can easily take the benefit of these technologies for expanding the business. In addition, the technology development will help the company to increase the operations in the future. The main barrier that is faced by the company is related to the technology as Bendigo was not able to engage aged people of the UK with technology (Bendigo, 2018).
The legal factors include the legal rules and regulations that are required to be followed by the company. Bendigo Company needs to protect their own IP and with this, the company started with the patent application for the UK. Moreover, the company need to follow the set policy and procedures for the aged person to whom they are offering the health and safety services.
In the UK, the government of the country focuses on the environmental development strategy. EU sustainable development strategy includes the rules and regulations that are required to be followed by the company. Bendigo ensures that their business operations don’t create any impact on the environment of the country.
SWOT analysis
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Strengths |
Weaknesses |
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Ø The strength of the Bendigo is that it supports the people to have a better quality life with good wellbeing. Ø Bendigo Company has communication and integration of the skills which include both practical and technical skills that help in providing effective health and social care services. |
Ø The use of the advanced technology for the aged people is one of the biggest weaknesses because most of the aged people are not handy with the use of technology. Ø Bendigo has a lack of measuring system which is a weakness. |
|
Opportunities |
Threats |
|
Ø Bendigo has the opportunity to create the simple reminders for those who have lost the memory and also alert to indicate for the career opportunities. Ø The company has the opportunity to apply the home automation that can enable the aged people to say at their homes only (Bendigo, 2018). Ø Bendigo has the opportunity to expand the business in different countries. |
Ø The lack of monitoring of the movement of aged people might lead to the risk of falling (Lovelock and Patterson, 2015). Ø Bendigo is working with the university and with a program of AI. Managing both the elements is one of threat factor. |
Porter’s five forces framework is one of the effective tools that are used for analysing the competition within the market that will be faced by the organisation (Kotler, 2015).
It is essential for the Bendigo Company to evaluate the market and the competitors that are present in the market. Firstly, Bendigo is an innovative startup due to which the company due to which the competitive rivalry is less in the market of UK. In the UK, there are companies who are offering health services to the aged people but have lack of companies who offer the career services to the aged people in the UK. Secondly, the threat of the new entrants is high in the market because numerous companies are making use of technology for bringing some innovative services to the market (Frynas and Mellahi, 2015). The moderate threat of new entrants is available to the company because companies can bring the same concept with a few new services. This is found that the cost of the care in the residential nursing unit lies between the 800- 2000 pound a week. Though, for Bendigo, the cost of 4000- 6000 pounds would be cheaper. The analysis of the cost reflects that new entrant will need a huge capital to enter into the market.
Thirdly, the bargaining power of the customers is less because the service that is offered by the Bendigo is unique. Apart from this, the aged people in the market won’t be able to find the services with the support of technology. Fourth, the bargaining power of the suppliers is high for the company because there are many companies who make use of technology for their operations. The supplier of technology might bargain a lot which makes the company form the strong relationship with them. This strong relationship with the suppliers will help them in getting the supply and update of the advanced technology (Baker and Saren, 2016). Finally, the threat of the substitutes of the product is one of the forces that are essential to be analysed by the company. Bendigo Company will find the low substitutes of the product because there is no other company who is offering the same sort of services to aged people like Bendigo.
Benchmarking
Benchmarking is a way of measuring the potential that could be applied to the system. The company is willing to expand the business and willing to improve the operations for which they need to set the benchmark. According to the set benchmark, the company will measure the movement (Bligaard, et al, 2016). This will help the company in analysing that person is improving or not. Bendigo Company decided to plug in the pressure cushion which will help in sending alerts if the aged person is stood up and they can maintain the safety. This is possible with the use of technology so it allows the people to be flexible on how to make use of pressure pad.
The capabilities of the Bendigo are the adequacy and suitability of the competencies and resources of an organisation which are essential for the survival and prosperity. One of the major capabilities of the company is that there are four directors of the company who are managing the operations (Carraresi, et al 2016). These directors of the company are skilled in different fields which include health and social provision, technology, nursing and learning development and the policy and procedural. The directors of the company conduct the regular meetings in which they take the major decision for operating the company. Along with this, one of the major capabilities of the company is that they make use of the technology that helps them in working effectively. This shows that they have the capability of communicating with each other effectively. The method which is used by Bendigo Company for communicating includes VARK method. It includes Visual, aural, read/write and kinesthetic sensory modalities that are mainly used for information learning (Cano, et al 2016). IMC Company can make use of this method to support or generate awareness among the stakeholders for the product.
The strategy of the company is formed or implemented with the motive to achieve the vision, mission and objectives of the company. The company is able to manage the physical, financial and human resources. The directors are managing the operations on their own which is a way through which they are able to meet their purpose.
This section includes the findings of the PESTLE framework that is used by the company to evaluate the positive or negative impact of the external factors on Bendigo. The company get the major benefit of the social factors which shows the rise in a number of aged people. On the other hand, the advancement of technology is one of the threats to the company. It is found that there is a very less political threat to the company and company is following the legal obligations.
SWOT analysis is another framework that is used by the company which shows that opportunities for the company which shows that they can expand the business in different countries. Though, there are different threats and weakness faced by the company. In addition, the company need to work on their weakness as they try to generate the education among aged for generating awareness.
The internal findings show the benchmarking that is used by the company that helps the company in analysing the growth opportunities. In addition, the strategic capabilities show the relationship of directors among themselves. The challenges and issues that are mainly faced by the company are included with help of Porter’s five forces. The recommendations for the same will be discussed with their implementation.
This section shows the cultural values of the company that is followed by them. Bendigo is a new company that formed the relationship with the focus group. The focus group is the group of diverse people from whom the company can take the feedback for the new services. The directors of the company play a vital role in forming a relationship with a focus group.
Considering the analysis of surroundings, it has been found that the Bendigo Company faces numerous issues and challenges. These challenges and issues affect or influence the working of the company. Some of the recommendations to the company are given below: –
Bendigo Company needs to manage the people to whom they are offering the assistance of social and health care with the career opportunities. The monitoring and evaluation of the people are integrated with them is essential to bring development, peace and independence (Cronqvist, Siegel and Yu, 2015). The managerial style that is recommended to be used by the Bendigo company is Autocratic. This style includes the involvement of every director of the company while making the decision for the future growth and development.
Bendigo Company is dealing with the challenges which include the resistance and suspicion of solutions through technology to human problems. In the UK market, the company should generate the awareness among the aged people for the use of technology. The awareness for the benefits or advantages of technology will make the people understand to use the technology.
Most of the people are not ready to make use of the technology because they are not handy with this so Bendigo company can teach them the use of technology. It is recommended to the company to make them learn because this will help the aged people as this will enhance their personal development.
The leadership of the Bendigo company is a flat system with the four directors each have their own complimentary expertise in the different fields which include healthcare, technology and the management of the administration which include the polices and produces for the betterment of the company. This director handles the issues related to the protection of IP address. Currently, the company doesn’t have any levels of management. This leads to many issues as the company is not able to expand the business and also is not able to contribute to improve the efficiency. If the flat system will change the company will seem to be growing along with the managers of the company will be able to meet their future objectives. The recruitment and training of the employees are one of the solutions to these issues (Armstrong, et al 2014).
This section of the report includes the implementation of the recommendation that will help in reducing the barriers that can huddle the growth and expansion of the company. The below given are the recommendation that converts into the strategies and then to the actions that are taken by Bendigo to achieve the mission and vision of the company.
The directors of the company need to develop the skills that the managers maintain for achieving the success. The management skills will get develop when they will initiate to take the decisions for solving problems and for planning the future growth. Some of the management skills are given below: –
The awareness can be generated in the public with the help of the advertisement of the services that are offered by the company. The awareness can be generated with the help of promotion tools which include: –
Advertisement: – Bendigo Company needs to advertise their services that they are offering to the people so that they can bring development in terms of their health and careers. Bendigo Company can do advertisement through online and print media which helps them in generating the awareness (Gillespie and Riddle, 2015).
Public relations: – The directors of the company can make the relationship with the aged people by making them aware of the services. This promotion tool will help them in forming the effective relationships and making them understand about the services.
Bendigo can allow the users to leader the ways to use technology which supports them. This learning will resolve the problem of resistance of the people towards the technology used instead of the human contact (Reece and Walker, 2016). The implementation of this requires a place where they can invite the aged people to come and learn the effective uses of the technology.
Implementation of the change in leadership will exist when the directors of the company will take the decision to hire the employees which increases the levels of management (Crosby, 2017). This will bring the changes in the leadership style of the company. Along with this, the directors of the company will be able to develop more skills related to the management of Bendigo.
Recruitment of candidates- The recruitment of new employees will help the company in growing the business and also expanding it.
Training to employees- The training to employees is one of the ways through which the employees will learn about the ways to work. Along with this, the training related to the work will help the managers in getting the efficient work.
The communication in Bendigo needs to be effective because this is the way through which they can achieve the mission and vision of the company (Habermas, 2015). Vark method is used by the company to communicate effectively with the tools and strategies. This communication takes place between the stakeholders as it is very essential to make them aware of that innovative services that are offered to people are most effective.
Conclusion
In the end, it can be concluded that the Bendigo is offering unique services to the aged people. The directors of the company have come up with the innovative services that can help the growing ageing population of the UK in getting a good life. The use of technology and the services will make them to regained independence, peace of mind for career opportunities. The report includes the analysis of the external factors, internal factors with the support of the theoretical tools. Along with this, the report includes the findings of the analysis that has been undertaken. This analysis highlights some of the issues that have been faced by the company. The recommendation with the implementation of recommendation has been done in the report. This will help the company to expand the business and to accomplish the future objectives.
References
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Baker, M.J. and Saren, M. eds. (2016) Marketing theory: a student text. United States: Sage.
Bendigo (2018) About Us [Online]. Available from: https://bendigosystems.co.uk/about-us/ [Accessed on 3rd August 2018]
Bendigo (2018) Bendigo Systems – live at home safely and independently [Online]. Available from: https://bendigosystems.co.uk/ [Accessed on 3rd August 2018]
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