Tuesday, May 5, 2020

Strategic framework tools at Sika AG-Free-Samples for Students

Question: Discuss about the Use of strategic framework analysis tool for Sika AG. Answer: Introduction The strategic framework sets direction of policy as well as planning horizon for business of an organization. It has been a greater emphasis placed on the strategic framework. There are major elements of the framework that needs to be analyzed. Present study deals with making awareness of the process of using strategic framework analysis tool for determining targets as well as integration of the ICT resources. In addition, reviewing the efficiency as well as effectiveness of the technologies as per the organization using lens of the each framework is discussed in the present study. Use of knowledge processing tools for providing competitive advantages is described in the study. Overview of strategic framework tools at Sika AG Grant (2016) stated that there are several strategic framework analysis tools that are used to analyze business of the organization in order to manage internal strategy as well as external environment. It is important to identify the strategic framework tools for analyzing business of the organization. Porters five competitive forces, blue ocean strategy, PESTLE analysis and scenario planning are the tools used for analyzing business of an organization. On the other hand, there is universal acceptance of information and communication technologies for development of a business. For example, in manufacturing industry, the policymakers and staffs agree that information and communication technology are paramount significance to the future development (Anders et al. 2014). The technologies are inter-connected as well as capable to provide online information in real time. It also increases access through developing fruitful communication among the stakeholders. In addition, development of ICTs role in sustainable agriculture in sustainable development of the organization helps to bring new knowledge along with information resources. Moreover, the role if knowledge production as well as dissemination helps the staffs of Sika AG in order to recognize potential negative consequences. As the major aim of Sika AF is providing best quality products to the consumers, which are durable as well as encounter demands of the customers. Satisfaction of the customers regarding the products and services of the organization is one of the main targets of the organization, it is required to develop effective information and communication system that would be helpful to comprehend the needs and gain a scope fulfilling their requirements. Use of strategic frameworks SWOT analysis Sika AG has specialty in producing chemicals and belongs to the industrial products sector. The organization has a tagline named as Innovation and Consistency. It is one of the market leaders in construction chemical sector across the word, which is USP of the organization. The company has segment for the customers looking for high quality as well as efficient products with long term advantages towards development of business (McWilliam et al. 2013). On the other hand, the target group of the company is the customers in production of constructing the materials and industrial products as well as automobiles. Positioning of the company is globally active specialty as a chemical company. In order to analyze business of the organization, SWOT analysis would be helpful for analyzing business of the organization. Strengths: There are more than 15000 staffs operating across the world. It concentrates on the emergency- efficiency that has earned the organization having a strong customer base. In addition, there is a consistent as well as strong annual sale of the organization, which is considered as one of major advantages of the organization. Moreover, the organization is extremely effective in the process of distribution as well as research and development departments, which is located at Baar, Switzerland. The company has a strong brand present in Europe. Weakness: There are several strong points belong to Sika AG that makes the organization a competitive company in chemical industry. However, there is few weakness of the company that needs to be minimized for improving business performance of the organization. There is over dependence on the materials segment of the constriction has minimized the ability for expanding into the industrial sector across the globe (Li et al. 2015). On the other hand, market share of the organization remains very consistent as the organization has witnessed in high as well as lows in the last years. Opportunities: It is important to find opportunities in business in order to competitive advantages in the market. It emphasizes on emerging markets of Eastern Europe, Middle East, South America and South Asia increase development prospects of the organization. In addition acquisitions is very prcised and accounting for good share of the annual revenues of Sika AG. Threats: Peppers and Rogers (2016) mentioned that there are rapid fluctuations in the rate of exchange, especially with Swiss Frac. IT results in generating negative sales year-on-year for the organization. In addition, competition becomes very strong in the industry as well as products of Sika. These are slowly paving way in order to generate efficient products through different players. In addition, international trade hit all times low for economic downturns along with the Euro crisis. The competitors of Sika AG are BASF SE, Lyondell Basell Industries NV and Rockwood Hoodings Inc. Balanced Scoreboard: As stated by Shirch (2015), the balanced scoreboard is one of the management reporting frameworks can be applied to analyze business of the organization. It is extent to the requirements in order to understand the process. It is refined and has inquiries regarding the analysis of the business process. In this perspective, balanced scoreboard can be applied to a specific business sector and metrics, appropriate for the sector. The particular section provides database of working balanced scoreboard. There are 57 % of global organizations working with the balanced scoreboard. Information in the commercial sector is proprietary for related to the specific strategies of the organization (Berger et al. 2013). The companies related to the chemical industries are not concerned with proprietary information and have a mandate for posting with managing information on the particular web sites. In the present case scenario, Sika AG has lack of stable as well as sustainable approach in order to achieve vision as well as has any consistent model to make funding decisions. It is based on the priorities as well as access of getting bigger impact of the decisions. Chua and Banerjee (2013) argued that it is required to develop model as well as structure for decision making process, which is sustained regardless of the economic conditions along with political ideology. There are any ways of making prediction of long term impact of the system. Porters five forces for Sika AG Abo-Hamad and Arisha (2013) mentioned that Porters five force analysis framework analysis helps to assess attractiveness as well as competitive advantages for the organization. Development of the competitiveness can indicate if the industry is useful to enable development of profitability as well as success completely encounter the future challenges. Threat of new entrants: In order to determine attractiveness, the factors like supplier, buyer and new entrants as well as substitutes along with rivalry is generally consulted. In Germany, competition in retail sector is concentrated regarding 1% of getting competiveness produces 70 % of the revenues. Probability score is relevant measurement for getting evaluation of the stock attractiveness. Sika AG displays the probability score of 7 (Thm et al. 2014). There are several new organizations in the market that can come up to the market and might be competitive of Sika AG. Threat of Subsidiaries: However, probability score is higher compared to the peer group. The future adhesive helps the organization to obtain competitive advantages in the market. Substitute products for chemicals have an important value in the market that is required to consider. Bargaining power of buyers: Seaborn and Fels (2015) stated that the element of low cost for producing of the materials strengths the power of the buyers as one of the key force for Sika AG. However, collective bargaining power needs to be considered while analyzing the business performance of the organization. Bargaining power of suppliers: It is relatively weak force in the present market place of Sika AG. However, the element parts of the bargaining power needs to be considered while analyzing business performance of the organization. Work Centered Analysis Work system has been utilized loosely in several areas. In this perspective, a work system is one of the systems in which participants as well as machines can be helpful for performing work utilizing the information and technology as well as resources in order to generate products or services to gain internal or external customers (Girard et al. 2013). The components of work centered analysis framework are internal as well as external consumers of the procedure of business. In addition, the products are produced through the procedure of business. The participants are included in the business procedure. On the other hand, information of the business procedure utilizes and creates the process of business. The technology utilizes procedure of business. The WCA framework can be implied that staffs of the organization speak of the systems and business professionals of the system need to concentrate on the system make performance of work. The system of the framework has much broader comparative to the technology. On the other hand, the links are getting two ways for implementation that the components need to be balanced (Verbong et al. 2013). It makes the changes in one place that may give results in the components. Implementation of information and communication technologies helps to develop business of the organization. The framework is helpful to analyze performance of the business. Assessment of efficiency and effectiveness In order to assess efficiency as well as effectiveness of information and communication technology, different business models and frameworks are used. Based on the Work Centered Analysis the effectiveness of the system can be provided through implementing information and communication technologies for the organization (Koehler et al. 2014). On the other hand, porters five forces is would be helpful for gaining competitive advantages in the business. The framework explains as well as briefly preset the main elements of a strategic analysis. IT also outlines the order that need to be covered in the project of Sika AG. It includes a coherent skeleton of making a comprehensive strategic analysis. It is also important for the organization to adopt particular requirements of the project specification for the clients of the company. On the other hand, corporate-level analysis for the organization is required with several business units. It is more complicated than analysis of the organization in making single line of the business (Suarez-Tangil et al. 2014). However, some projects are required to be oriented to the analysis of industry. It is vital for potential clients for the type of analysis that might be helpful for the organization in order to consider entering to the related the industry. However, related projects are required to include in the part of making analysis of entry into a new market as well as business plans. The logi c of making proper strategic analysis is simple. It explains the issues that can be assessed in the business. In this case, it is needed to analyze the issues in more non-linear manner compared to the practice. However, writing-up for analysis in the linear form would be helpful for generating rational model. It is the way in order to analyze the understandable things to the specific client. Hence, it is required to write comprehensive strategic analysis for Sika AG. As the organization deals with producing chemicals, it would be useful for the organization to support the business through fulfilling their needs (Arnold et al. 2014). However, analyzing the present situation, it would be helpful for making situation as well as solution analysis. There is a tendency to want to avoid answering, trying as well as dodging the real issues through either presentation of the laundry lists of the issues as well as the solutions through presenting different undigested and strategic planning techniques. It provides no comprehensible structure that will be helpful to analyze the business structure of the organization. It is required to have short statement that will happen the organization to continue making the present strategy, which will be combined with brief description and the process. The statements are no longer than the performance of the organization (Zhang et al. 2013). There are several circumstances for the industry structure as well as different aspects of getting competitive environment and the strategy can affect performance of the company. It concentrates on the major elements of the present situation at present time. On the other hand, the causal relationships between the elements that comes together in the assessment analysis as well as the solution analysis. There are interdependencies in which the elements are discussed in the study. It is based on simply on the works best for doing specific situation (Sen et al. 2013). It varies in single line of the business. On the other hand, tradition of the organization makes suggestions on the industry first and followed through analysis of making internal characteristics of the organization. The process is followed through making present strategy. The financial performance need to be assessed by the organization. This order works well for the strategy of business-level in the industries that has well-defined boundaries. On the other hand, corporate-level strategic analysis is useful for better analysis of business performance of the organization. Van Eemeren and Houtlosser (2015) stated that in order to explain the overall business performance at corporate-level, it is important for the organization to gain competitive strategy first. In the local organization, it is required to duopolistic or making oligopolistic competitive environment for Sika AG. The industry analysis needs to merge with making the discussion of the organization to get supportive strategy. However, it makes specific sense for discussing strategy along with developing internal characteristics of the company in the same section. Developing the competitor analysis is difficult to make the position. However, it develops the part of making rivalry discussion for the industry analysis (Davies 2014). However, there are some aspects that can be helpful to form the part of developing internal characteristics analysis. It is important to have differences in the making the value chain and different times to make the sense in order to discuss separate section just be fore the fulcrum. Effectiveness of strategic framework tool In present years, the cost of processing power as well as storage capacity has skyrocketed. The development of broadband as well as internet connections illustrates the fees of communication to drop as speeds of the increase efficiency. Porwal and Hewage (2013) mentioned that the lower cost for providing higher functionality regarding information as well as communication systems has been profound for getting the effect in order to increase population of the internet users along with the fostering development of e-commerce. In the field of transportation, Intelligent Transportation Systems (ITS) such as navigation systems as well as Vehicle Information and Communication System provides drivers having information of traffic that has been started finding ways into the private vehicles. However, for commercial vehicles it becomes easy to track location of the vehicles as well as freight utilizing the GPS. Wamba and Carter (2016) commented that it applies in such of information system to the make the process of optimization in the organization. Moreover, use of electronic tags (RFID) as well as Dedicated Short Range Communication (DSRC) systems like ETC system is utilized in order to collect highway tolls. On the other hand, internet-accessible mobile phones need to be rapidly become more commonplace along with make together with ability that helps to use the servicing of e-mail messaging in order to find the road traffic information. On the other hand, it is required to have some system for the business that includes management of a schedule to the logistics application. It includes photographing inside of the shipping container. It has e several functionalities that would be helpful for the organization to gain competitive advantages (Micheli et al. 2013). On the other hand, the number of using the service is growing day by day. In this perspective, the total number of GPS-equipped services has been estimated to the limit for the organization. Application of strategic framework tool Strategic Planning has a comprehensive process in order to determine the business needs to become and the process of achieving that goal in best possible way. It appraises in the full potential of the particular business as well as explicitly links that is helpful to fulfill business's objectives in order to take some actions along with the resources needed to achieve them. On the other hand, strategic Planning offers systematic procedure in order to ask as well as answer the most critical questions (Fahimnia et al. 2015). It is confronting management team that includes especially large, as well as irrevocable resource commitment decisions. However, successful Strategic Planning processes need to include explaining the mission of the organization, vision along with basic values. On the other hand, targeting the possible business arenas along with exploring each market in order to emerge threats as well as opportunities In addition, it is required to understand current as well as future priorities of the segments of targeted customers. Analyzing strengths as well as weaknesses of the organization is related to the competitors as well as determines that the components of the value chain of the organization need to be properly processed (Wei et al. 2014). Identifying as well as evaluating the alternative strategies would be helpful for the organization in order to gain competitive advantages in the business. However, development of an advantageous business model will bring profitably and make differentiation of the company from the competitors Defining the expectations of stakeholders as well as establishing clear along with making compelling the specific objectives would be helpful for the business. Moreover, preparing the programs, policies as well as plans would be helpful to implement the specific strategy in the business of Sika AG. However, it is required to develop supportive organizational structures as well as decision processes that make the process of information along with controlling the systems. In addition, hiring and training systems can be useful for the organization. Allocation of the resources in order to develop some critical capabilities can be beneficial for Sika AG. Planning for as well as responding to the contingencies and environmental changes would be helpful for the organization (Seaborn and Fels 2015). It is also important to monitor the performance for implementing information and communication system with the help of strategic framework. In addition, core competencies, change management, miss ion and vision statement, corporate strategy as well as scenario and contingency planning would be helpful for the organization. Companies use Strategic Planning: There are several procedures of using strategic planning in an organization. In order to have effective strategic planning, some points need to be considered. Changing the direction as well as performance of the business is required to consider while establishing the strategic plan for the organization. In addition, encouraging the fact-based discussions of making politically sensitive issues and creation of a common framework in order to have effective decision making process in the organization would be helpful for the organization (Van Vuuren et al. 2014). However, setting an appropriate context for making the budget decisions as well as performance evaluations would be useful for analyzing the business. In addition, training the managers of the organization in order to develop better information for making better decisions and increasing confidence in direction of the business would bring competitive strategy for the organization. Conclusion From the above discussion it can be concluded that effective use of strategic framework analysis tool is useful for business of an organization in order to analyze the business performance of the organization. On the other hand, implementing ICT strategies is one of the most important strategies at current business perspective in order to gain competitive advantages in the market. There are several tools as strategic framework analysis tool are available for analyzing business of the organization such as SWOT analysis, Balanced Scorecard, Porters five forces and work centered analysis. Using these strategic frameworks can analyze the business performance and find the core strengths of the business that the company likes to focus. On the other hand, finding loopholes are required to minimize in the organization in order to retain in the market with respective position. Recommendations It is important for an organization to improve business process through adopting some measures that can be helpful for better alignment of information and communication technology with the present business strategies. 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