In the future markets, aggregation simply refers to the principal of bringing about an effective combination of all possible future position that are current regulated by one trader are a given group of traders. Aggregation is very important especially in financial planning. It is an effective time saving account criteria according to Krishnan (2012). This is due to the fact that aggregation in financial planning helps in merging an individual firm’s financial data from different organizations (Ghemawat 2013). It is also effective in servicing clients’ accounts. This is why it is very popular with adviser. Aggregation strategies aims at achieving economies of scale. It does this by creating universal efficiencies. This normally incorporates the standardization of value proposition according to Cavusgil (2014). This process has the potential of bringing an assemblage of such process as production and development. This is achieve by means of coming up with considerable cost advantage. This is achieve through the centralisation of the purchase of raw materials as well as production of end products among others. Peng (2013) explains that in some places especially those in which the comparative cost incurred in labour as well as other resources is observed to be less, various organizations leaned toward the use of aggregation strategies and not adaptation. This is despite the fact that they were globalised. In all this, Bodie (2013) explains that non geographic parameters are also very important dimensions to be put into consideration.
Adaptation strategies are purposefully for increasing market share as well as the revenue for an organization. It does this by adapting to various components in a business model according to (Lee et al 2015). This is due to the fact that for accompany to succeed it has to use a business model that suitable to serve local preferences as well as requirements. Adaptation strategy is most widely uses strategy amongst the three strategies – adaptation aggregation and arbitrage.
Xero
Xero is a cloud accounting Software Company located in Melbourne city. It specialises in products meant for small as well as medium sized businesses. Despite facing challenges such as lack of hiring brand power and a problem in hiring workers, Xero has emerge as one of the best IT companies in Australia compared to other companies in the IT industry. Xero currently has about 262,000 Australian users and is driving towards winning more market share from its chief opponent MYOB.
Atlassian
Atlassian is a successful software enterprise. This Australian software company with no sales force is penetrating the Australian market very effectively. Its first product, JIRA is a testimony that with a great piece of software that is well priced, it is possible to make entry into the market more successfully. So far the entire company has changed. With its team work, this company is make great stride in the Australian market.
George Weston Foods Limited (GWF)
George Weston Foods Limited or GWF as it is commonly know is one of Australia chief manufacturer of food. This company employs over 6500 workers. This company has adapted to the Australian market and is keen on meeting the needs of the Australian market.
Schweppes Australia
Schweppes Australia outstanding beverage company in Australia. This company meets the needs of the market by producing products of various kinds and varieties. This company was established in 1995. It focus on delivering very high quality product in the competitive Australian food market. Schweppes Australia is celebrated for having developed more than 50 business units. These units specialize in whole sale food services according to Rostamy et al (2015)
1.2(a) Xero
Adaptation being the most used strategy always aims at improve an organizations market share. In order to improve on an organizations business revenue it is important to adapt to the desire, taste and preferences of the local market. Xero on their part are trying to expand their market share by targeting the desire within the local market and meeting those desires. With these approach, Xero is making huge strides in penetrating the Australian market. The company is currently at 15% market share (Financial Review, 2017).
The company is adapting to the needs of the market in various countries across the globe. Xero is diversifying to offer services on bid data. The market is shifting and Xero is focusing on bid data in order to offer services demanded by the market. A good example in this case is the expansion into the Asian market. Xero is transforming into being not only an accounting software firm but to also offer dig data services at a relatively lower cost. It is evident that a number of countries such as Hong Kong, Singapore and other countries in other parts of the great Asia are using Xero. According to The Australian Financial Review (2016), the number of Xero’s subscribers within Australia as well as in New Zealand rose by about 53% as compared to its previous corresponding period. Through its adaptation strategy, Xero was able to record an operating
(b) Atlassian
Atlassian is applying the use of innovation to develop products that match the needs of the market. With kind of strategy, it hope to grow its customer base. Atlassian is keen on tracking its numbers. It has discovered that in order to grow quickly, there is the need to track and know where one numbers are originating from. Atlassian has mastered the need for keeping track of the local markets preference. This helps it in knowing where it is losing out. It is important for organizations to understand why they are losing out. By understanding the why’s such as why they are growing or why they are not growing is very essential. This helps in expanding the business’s market share. For over 15 years, Atlassian has been attempting to thump down these dividers to develop cooperation crosswise over divisions. The organization’s leader item, JIRA, is a product arrangement worked to help groups share thoughts and cooperate to effectively plan and discharge programming. At first made for programming advancement groups, JIRA is currently accessible to client confronting IT and non-specialized groups to streamline work processes, track undertakings, and measure execution (Abu et al 2014). Due to the various combinations accessible inside the JIRA suite and a commitment to consistently adjusting and developing items in view of client request, more than 68,000 organizations worldwide are utilizing Atlassian’s community hierarchical devices.
(c) George Weston Foods
GWF is driving growth through innovation. Among the criteria for driving growth these factors; Innovation, Focus, Externalization, Design and Innovation are very important in driving growth. Through innovation, GWF has tried to adapt to desire of the local market. The needs of the local market if well met leads to growth and an increase in market share. GWF does this by engaging with suppliers, and looking at technology. GWF recognises that there are so many products in the market already as such it begins by understanding the consumer and makes sure that its operational decisions links with its goals.
(d) Schweppes Australia
Schweppes Australia has fixed its position in the world market as the leading beverage company. It has a diverse portfolio of products. These products range from soft drinks to spirits. Sports and energy drinks also form part of the collection and many do quite well in bring in more revenue to the business. Schweppes Australia has as a leading industry is distinguished by its high quality and market innovation according to Abu et al (2014), Schweppes Australia has reinforced its association with business partners by building up a fluent connection with its distributors and comprehensive group control techniques. This activity was embraced in a joint effort with the item suppliers and yields significant operational efficiencies..
1.3 (a) Xero
Xero’s wide information reach empowers it to offer monetary bits of knowledge back to organizations and the administration. A shoe shop enduring a sudden downturn in ranchers’ spouses purchasing winter boots because of Fonterra cutting its payout may get prior notices and more alternatives to act with better data. For the administration, Xero says it can give a continuous preview of the strength of the private venture economy that isn’t as of now accessible. By looking through the solicitations and receipts flying between its clients, it has officially discovered 150,000 organizations that as of not long ago weren’t being checked in the national insights, taking the aggregate number of private ventures to almost 620,000 (Abu et al 2015)
(b) Atlassian
Atlassian’s group arranging and venture administration arrangement, JIRA, gives a way to get through walled situations, taking care of network issues to create and discharge items in the most effective way. Their product suite incorporates a few critical joint effort items, including Bitbucket, Confluence, and HipChat. Keeping groups adjusted, lines of correspondence open, and individuals talking together progressively is basic to building and discharging extraordinary programming and remaining aggressive in today’s swarmed and quick moving programming industry. Regardless of whether it’s client administration, venture and issue following, or business administration, Atlassian has built up a JIRA answer for help streamline operations and cross-departmental correspondence.
(c) George Weston Foods
The far-reaching range of both local and international products offers GWF a measure of balance. Generally, the number of customer keep on increasing with the help of GWF’s standardised campaigns. Despite business risk a rising from health risk affecting poultry, numbers number of clients received is not affected.
1.3(d) Schweppes Australia
In line with a worldwide product rebranding push, Schweppes Australia has diverse collection of products. These products include numerous types some of them being beer, a variety of spirits, cider, various soft drinks, a collection of world’s best juices, water, it also has iced tea, cordial, sports drinks as well as energy drinks. In line with aggregation strategy, Schweppes Australia incorporating the amalgamation of all of its future positions that it owns. Under this particular approach strengthens this organization’s image in the market. Schweppes Australia’s beverage service is actualizing a system of rebalancing the introduction between contract, national and autonomous clients in their separate markets as well.
1.4(a) Xero
In Australia, Xero is additionally accomplishing scale, with 203,000 private company clients, around 17% piece of the pie, as indicated by figures given by Xero. With one more year to year and a half added to its repertoire, Xero expects it will have enough organizations in Australia to have an agent test, empowering it to begin trans-Tasman benchmarking. Aggregated data enables the organization to benchmark against others of a comparative kind, on such things as capital, obligation, turnover and costs.
(b) Atlassian
Atlassian discharged the principal rendition of JIRA in 2002 as a reaction to the issues that emerge when working inside walled conditions. When dev. groups were all the while utilizing flip telephones and Excel spreadsheets to arrange, track, and sort out work processes, JIRA was progressive. JIRA entered the market and presented a solitary, moderate, out-of-the-crate arrangement where the greater part of a product group’s venture and issue following should be possible in one place. It was the correct device in the correct space at the time and has been the defacto venture and issue following apparatus for programming groups from that point forward. (El Sehiemy, et al 2014). This thereby makes the move from a siloed association to one advancing joint effort and straightforwardness crosswise over divisions and groups depends both on changing an organization’s way of life and the devices used to oversee and support coordinated effort.
1.4 (c) George Weston Foods
The demand for food is on the increase and in order to create global value, there is the need for GWF to effectively conquer all markets. GWF begins by ensuring that it supplies the needs of the local market before venturing into the global market. This is achieve through the centralisation of the purchase of raw materials as well as production of end products among others. In some places especially those in which the comparative cost incurred in labour as well as other resources is observed to be less, various organizations leaned toward the use of arbitration strategies does not bring in much changes to the business.
1.4(d) Schweppes Australia
Schweppes Australia is one of the beverage companies with the best solid money position mitigating advertising volatilities and instabilities, an upper hand when exchanging over various purviews. Schweppes Australia produces some of the best brands. Due to market inefficiencies across the globe, Schweppes Australia has managed to capitalize on sales arising from existing disparities in asset prices. Schweppes Australia has a variety of products. These various prices helps in maximising its revenues. Furthermore, creative, innovation based answers for clients and worldwide acquirement openings keep on gaining footing as a major aspect of the gathering’s quality add administration to develop piece of the pie, while unexploited potential risen in the new deliver and meat classes and esteem include preparing segments, in numerous areas.
Over the years, Atlassian has worked to improve its performance. The current level of performance though effective is still below the potential of Atlassian. It is evident that on the part of the management, the managers as at currently have very little experience when it comes to coaching conversation. As a result, this has not allowed the organization to operate to its capacity. In order to have a good coaching which can help managers operate efficiently and more productively, it will be important to have the managers trained on how have an outstanding coaching. The current performance incentive as used at Atlassian is not very productive and as a result the organization does not earn as much as it should get. Atlassian has the potential of earning more revenue if it can change its recognition and motivation model. A new model should work towards encouraging positive behaviour and this can be achieved through better coaching.
Schweppes Australia has over the years posted a growth rate of 5% on average. Even though the sales volume was at the same level with the markets growth rate, it is important to note that the increase in sales was achieved majorly through increases in the prices of the company’s products. This was also as a result of certain measure that Schweppes Australia was able to pursue. However, Schweppes Australia still did not perform to its full potential given that it has the capacity to perform more than what it had recorded. Through market segmentation of Schweppes Australia’s market. This particular type of segmentation will bring about some benefit. Schweppes range of products can be segmented and this can be done on the basis of the possible benefits that the particular products offer to Schweppes customers.
Product promotion has worked and helped George Weston Foods to increase its sales in the current local market. Through improved and well refocussed measures, it has been able to lead in the local market however it has note perfectly penetrated other markets effectively. It has enough potential but due to improper planning and an averagely executed plan it is not gaining enough in terms of revenue. As food and beverage company, to move to the next level a look at factors that aid in the business expansion is very important. Over the years the growth of the company has been remarkable as a result of a good legal environment. Technology is also important in the expansion of this particular business. These techniques neither incorporate connecting the diverse markets nor adjusting the neighbourhood requests.
Xero is currently operating at its minimum potential even though it seen as the best software company in the market. Current performance does not give much attention to customer feedback and therefore it does not effectively enable the organization to explore the needs of the current market. Xero stands a better chance of moving its operations to the next level by analysis the market needs more effectively and taking customer feedback into consideration more seriously. By assessing the current state of the economy, the level of the countries performance potential. The growth of the organization especially in its new markets will depend largely on the growth of the particular industry. It is there important to adjust to the prevailing economic situation in the host country.
It is important that the three strategies are studied and understood. This is very important given that different strategy applies differently and therefore just combining all of them into a business model does not guarantee success. It is essential that managers and business owners should gain a proper understanding of the business strategies. This will help in prioritizing appropriately. Prioritization should be done depending on the business objectives, goals and its requirements.
1.7 Conclusion
In conclusion, it is generally agreed that in order for a business to penetrate and succeed in new as well as emerging markets, it is important to for that particular business to adapt to the processes and practises of the local market. Identifying the process and practises favoured by the local market is one very important aspect or any business seeking to penetrate into new markets. This is because by adapting to locally preferences, a business gains acceptance very easily from its local customers. However it also important to note that adaptation can sometimes be challenging since it is divided into five parts. These part comprise of variation (which involves making changes to the products of a business), Focus, Externalization, Design and Innovation (Conway 2014). It has been observed that at all times, whenever business leaders or managers hear about these three AAA, they quickly want to implement all of them. However, it is important to note that this is not a simple thing to do. These three strategies have tensions among themselves. They have distinct differences. It is therefore important that these three strategies are first understood. Managers and business leaders therefore need to figure out only those elements which meet the company’s desires. After this is arrived at, then prioritization can be done accordingly (Conway 2014)
1.8 References
Financial Review. (2017). Xero to keep gaining market share in Australia, new MD Trent Innes says. [online] Available at: https://www.afr.com/technology/xero-primed-to-keep-gaining-market-share-in-australia-new-managing-director-trent-innes-says-20160106-gm0b08 [Accessed 19 May 2017].
Financial Review. (2017). ‘Bigger than the cloud’ … Xero makes first move towards automated accounting. [online] Available at: https://www.afr.com/technology/bigger-than-the-cloud–xero-makes-first-move-towards-automated-accounting-20170308-gutfvs [Accessed 19 May 2017].
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