Strategic Management refers to the formulation along with implementation of the goals that is taken by the top management of a company that can help an organization in making profits. It helps in giving direction to an organization on the basis of the resources that is possessed by it. It helps in the development of policies that helps in the allocation of the resources that can aid in implementing the plan. Collins Foods Limited is indicative of a public company in Australia that helps in the operation of food service retail outlet (Collinsfoods.com 2018). The company is popular for operating the restaurant chains within Australia. It acts as the owner of the Sizzler restaurants within Australia that operates in the areas of Brisbane, Australia along with Queensland. The company is instrumental in operating 229 KFC restaurants across Australia. This report discusses about the external issues that has an effect on the company that have made it to move the job offshore. The report also discusses about internal issues that has made the company to move offshore. The report also elaborates on the stakeholders of the company and how the shift will have an effect on the stakeholders of the company. The report also discusses about the competitive advantage that the company would be able to enjoy in the event of moving offshore. The report also states the risks and the increase in revenue that the company would be able to experience in the event of moving offshore.
There exist various kinds of external issues that have resulted in moving the company offshore. There are many companies in Australia that has retail outlets related to food service and moving the company offshore will be able to help the company in unearthing new business opportunities that will be able to help the company in making profits. Collins Food Services faces a competitive market in Australia and moving offshore will be able to help the company in gaining new opportunities. The Australian government does not provide sufficient incentive to the business owners and moving outside will help the company in expanding (Chernev 2018). The changing customer demand is an important factor that can compel Collins Foods in entering into the foreign market. The demands of the consumers have greatly evolved in the present age and there are large number of retail food outlets within Australia that has paved the path for moving abroad so that it carry on business and making profits. The changing of prices is another important factor that will cause Collins Foods to expand in the foreign country (Baku, Kutu-Adu and Achiriga 2017). The prices of the raw materials have greatly increased in the present age in Australia and moving to other countries that are less developed will help the company in getting the raw materials at an affordable price that will be able to greatly help the company.
There are various internal issues that is making Collins Food Limited think of moving some jobs offshore as a part of the strategy. The employees of Collins Foods Australia lack the element of creativity and moving some of the jobs offshore can help in providing innovative ideas that can help the company in making innovative products. Collins Food will be able to capitalise on the innovative ideas of the people of the foreign countries that can help the country in sustaining itself within the competitive environment. Collins Foods Limited will be able to tap into the novel ideas of the people of the foreign countries that can help them in making products and creating services that can cater to the changing tastes of the people in the present age (Foxall 2014). There are partnerships that can be forged in the foreign company that can help the company in retaining the consumer base. The cultural beliefs that people have in the foreign countries makes people gain new ideas that can help the company in retaining its hold over the market. Collins Foods Limited will be able to solve the problems that exist in the company with the help of the entrepreneurial mindset of the people of the foreign countries. This can facilitate the process of marketing of the company and more people will be able to know about the unique services that are offered by Collins Foods Limited (Hollebeek, Conduit and Brodie 2016).
Stakeholders refers to the parties who has got interest in the company and who all are affected by the business. The stakeholders of Collins Foods Limited will be the customers and the employees of Collins Foods Limited. The other stakeholders who would be affected when the company moves off shore are the suppliers and the shareholders of the company. There are many employees of the company who would be affected owing to the fact of it moving offshore (Proctor 2014). There are many employees who would lose the job owing to the fact of it moving abroad. The individuals who would be directly affected owing to the factor of Collins Foods Limited moving abroad are the employees along with the customers of the company. The other people who would be indirectly affected are the various organizations that facilitates the operations of Collins Foods Limited by the providing of the various resources. There exist other group of the individuals who are involved in operating the social supermarkets who are called “donors” (McDONALD 2016). The stakeholders of Collins Foods Limited would be the suppliers of the company who would be affected when the business moves in other countries. The suppliers of the company would be greatly affected when the company moves offshore as they have to face a lot of losses.
Collins Foods Limited would be able to enjoy a lot of competitive advantage in the event of moving to other countries. They would be able to make use of the new technological ideas of the foreign countries that would help them in gaining competitive advantage and facilitate its surviving within the competitive landscape. Technology has a great amount of macro-environmental influence and it can help in the aspect of conducting of business of a company. Collins Foods Limited would be able to gather knowledge in relation to exponential technology if it moves offshore. Exponential technology would be able to help the company in incorporating certain aspects that can help it in solving the business problems (Lambregts, Beerepoot and Kloosterman 2015). This would be able to help Collins Foods Limited in growing at an incredible rate. It would emerge to be popular among the consumers in the event of moving offshore to the other countries. The shift in relation to the new technologies has altered nature of the competition and help them in surviving and growing within the ever evolving market place. The intellectual property that a company has can help a company in making huge amount of profits (Zlate 2016). The expansion to other countries would help Collins Foods Limited in gaining intellectual property that would be able to help it in gaining a larger consumer base.
Collins Foods Limited would have to face risks in the event of moving offshore to the other countries. Collins Foods Limited can be exposed to political along with regulatory risks in the event of moving offshore. Production facilities have to be set up that will incur a lot of cost for the company. There would be cultural along with language barriers in the event of Collins Foods Limited going offshore. Collins Foods Limited would be able to get access to latest thinking and it would be able to take the advantage of the highly skilled labourers when it goes offshore (Borch and Batalden 2015). This would pave the path for the increase in revenue for Collins Foods Limited. Collins Foods Limited would be able to take the advantage of the lower freight cost in the offshore countries that can prove to be relevant for the success of Collins Foods Limited. The strategic implications of the company moving offshore would be that it can help in giving the company access to the lower material cost that can be instrumental in helping the company in earning profits (Osadchyy and Webber 2016).
Conclusion
Strategic Management is indicative of formulating goals that can be useful for an organization for making the profits. There are various that have retail outlet in relation to food service companies within Australia and moving offshore would be helpful for Collins Foods Limited in deriving new kinds of business opportunities that can bring benefits for the company. Creativity is lacking in the workers of Collins Foods Limited and moving outside to the other countries can help the company in getting new kinds of business ideas that can help them in sustaining within that of the competitive environment. In the event of Collins Foods Limited going offshore those who would be directly affected are the employees and customers of company. There exist different organizations that help in operating of Collins Foods Limited and they would be affected in the indirect manner. Collins Foods Limited can take advantage of the evolving ideas in relation to technology that can prove to be a factor of competitive advantage for the company. Moving offshore can make Collins Foods Limited face the political risks that can act as a threat for the company.
References
Baku, K., Kutu-Adu, G.S. and Achiriga, V., 2017. Strategic marketing management.
Borch, O.J. and Batalden, B.M., 2015. Business-process management in high-turbulence environments: the case of the offshore service vessel industry. Maritime Policy & Management, 42(5), pp.481-498.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Collinsfoods.com (2018). Collins Foods Limited. [online] Collinsfoods.com. Available at: https://www.collinsfoods.com/ [Accessed 1 Dec. 2018].
Foxall, G., 2014. Strategic Marketing Management (RLE Marketing). Routledge.
Hollebeek, L.D., Conduit, J. and Brodie, R.J., 2016. Strategic drivers, anticipated and unanticipated outcomes of customer engagement.
Lambregts, B., Beerepoot, N. and Kloosterman, R.C. eds., 2015. The Local Impact of Globalization in South and Southeast Asia: Offshore business processes in services industries. Routledge.
McDONALD, M.A.L.C.O.L.M., 2016. Strategic marketing planning: theory and practice. In The marketing book (pp. 108-142). Routledge.
Osadchyy, A. and Webber, J.K., 2016. A practical management system for the effective use of offshore software project opportunities.
Proctor, T., 2014. Strategic marketing: an introduction. Routledge.
Zlate, A., 2016. Offshore production and business cycle dynamics with heterogeneous firms. Journal of International Economics, 100, pp.34-49.
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