BMSW6104 Strategic Management for SMEs (GC01676)

Table of Contents

1.0      Introduction.

2.0      Critically appraise the organization’s current strategic direction.

3.0 Analysis of organization’s internal and external analysis.

4.0      Stakeholder analysis and critically evaluate the expectations of the different stakeholders and their relative power

5.0 Verify or propose a new strategy and explain why you think it is a sustainable strategy for the long-term future of the organization.

6.0 Conclusion.

References.

1.0   Introduction

SME stands for the small and medium enterprise. Strategic management is required for every SME to exist and compete in the SME market. Ferguson (2019) stated that Strategic management indicates the flexible management capacity by the business organization on the basis of changing environment. An important section of the SME sector is Electronic Manufacturing Services (EMS) Company. EC Electronics is included in the SME sector that is considered a popular and luxury electronic company. This company offers electronic materials to the UK as well as European people (EC Electronics Ltd, 2020). This organization produces quality products quality by using quality materials with lower levels of prices by which customers can afford to buy these products. This business firm has applied several strategic management techniques to gain a competitive position in the competitive market. Additionally, EC is the first contract manufacturer in the UK to include Low-Pressure Overmoulding (LPO) and other electronic materials for the customers.

The headquarters of this company is situated at Basingstoke in the UK but it offers products to UK, Netherlands and Romania (EC Electronics, 2020). The main office of this company provides support to the global operations and helps to PCB as well as a cable assembly, electronics box build, test and repair. This paper, firstly it is trying to identify the current strategic direction of this organization. Secondly, this report evaluates the internal and external environment factors of EC electronics. Thirdly, the paper does the stakeholder analysis and evaluates the expectations of the different stakeholders and their relative power in the case of EC electronics. Fourthly, this report verifies and recommends a new strategy for ensuring a sustainable strategy for the long-term future of EC electronics. The overall findings of the report comprise the strategic management tools and techniques by which the EC electronics can improve its future condition in the competitive SME market.

2.0   Critically appraise the organization’s current strategic direction

2.1 Vision and mission

Vision

The vision of EC Electronics is to become the best manufacturer and supplier company all over the world (EC Electronics, 2020). Additionally, the creative products are also to produce with the best production process, and increase the quality and value of the service of the customers.

Mission

The mission of EC Electronics is to produce quality electronics products and deliver these products to the customers for ensuring sustainable manufacturing as well as supply chain in the market along with the maintenance of profitable relationships with customers (EC Electronics, 2020).

2.2 Aim and objectives

• To maintain the stranded of the product and business quality by achieving certification for all businesses as well as sites.
• To establish this company as an international business in the global market to attract global customers
• To meet customers’ expectations through producing quality products and effective customer service.
• To ensure effective supply chain management in the global market
• To perform corporate social responsibility to ensure social welfare and protect the environment
• To create a partnership with customers as well as suppliers protect the environment from pollution and greenhouse effect
• To motivate employees for increasing personal awareness to identify creative systems and produce quality products that ultimately affect the business success (EC Electronics, 2020).

2.3 Sustainability initiatives to meets vision and objectives

According to Ana (2018), the Business organization needs to take initiatives for continuing business sustainability that helps to meet the business mission, vision and objectives. In the case of EC electronics, the sustainable issues are highly connected because the production of this electric company may hamper the environment (EC Electronics, 2019). For this reason, this company takes sustainability initiatives to save the environment and ensure the sustainable development of the company. Firstly, this company was certified in UK business law and obeys the rules and regulations of environment protection Law.  This company is committed to protect the environment by obeying obligations, minimize pollution, effective waste management and ensure sustainable growth of the economy. Additionally, this company has to take initiative to reduce the plastic packaging system because plastic packaging impacts environmental pollution (EC Electronics, 2018). After that, EC electronics has to take a sustainable initiative to recycle all electronic waste for further use. The main responsibility of the quality manager of EC electronics is to reduce the carbon emission from the production house. After that, corporate social responsibility has to take into consideration by the EC electronics to ensure sustainable growth of the business.

2.4 Strategic Thinking

Strategic thinking is very important for the business to ensure effective strategic management (Anderson, 2017). The Quality Manager of EC Electronics “Kevin Osgood” thought that the present world has used more than 5 billion mobile phones especially Smartphones (EC Electronics, 2019). Every mobile phone needs a charge because the mobile can’t be run without charging. For this reason, the demand for chargers will never be reduced. Additionally, the other supportive materials of mobiles have huge demand in the market. For this reason, EC electronics have to consider strategic issues in the market for finding business opportunities. EC electronics think about the market changes and customers demand changes and other factors change to find the alternative way of producing and marketing the electronic products (EC Electronics, 2019).  The Quality Manager of EC Electronics also thinks about the UK market and global market position to take a strategic decision in the changing situation. The good quality of strategic thinking improves the business sustainability of business organizations including EC Electronics………………

Full Documents Click Download Button

Free – Download Checkout Added to cart