Table of Contents
Set1: Evaluate and Analysis of Bang & Olufsen.
2.0 How strategies adopted by Bang & Olufsen affect its decisions and activities.
2.1 Bang & Olufsen strategic direction in its business unit level
2.2 Bang & Olufsen strategic direction in its corporate-level
3.0 Analyse how Bang & Olufsen responds to the external and internal factors in its business environment
3.1 Analysis of the external environment of Bang & Olufsen’s.
3.2 Analysis of the internal strategic capability of Bang & Olufsen’s.
Set 2: Strategic Solutions for ASDA, Burger King and Samsung.
Set 3: Reflection on the Case Study of Bang & Olufsen.
How the Bang & Olufsen strategy assist in its strategy evaluation.
Set1: Evaluate and Analysis of Bang & Olufsen
Bang & Olufsen is a well-known electronics company in the UK. There are several strategies are applied through Bang & Olufsen to developed their business. Some of these strategies are technology-based some are managing and operational based (Richard, 2018). In this paper, the strategies that Bang & Olufsen applied are discussed. The external and internal environments are also most important for the organization as well as Bang & Olufsen. These environmental factors are also described in this paper.
2.0 How strategies adopted by Bang & Olufsen affect its decisions and activities
2.1 Bang & Olufsen strategic direction in its business unit level
The most important part of any kind of business is to retain customers. If a business is able to satisfy its customers, it can easily gain its progress and business development. According to Bang & Olufsen (2018), it has a good brand image in the electronic sector. It has been able to attract and satisfy its customers. That is why it has gained a higher customer retention level. To ensure holding a better position in the competitive market Bang & Olufsen always concern to apply proper and suitable strategies in their business. They want to invent new and unique products and available for the consumers at a reasonable price. In the present competitive global technology market, it is very tough to exist the business properly for the companies, especially for the beginners. But Bang & Olufsen is an experienced and old company. The managing directors and leaders of the company have sufficient skills and knowledge to lead the company inappropriate way and exist in the marketplace in a strong position (Bang & Olufsen, 2019). They have efficient strategies to conduct the business. It has also been dealing with its stakeholders including suppliers and competitors. They have several effective campaign programs for their products and gain competitive advantages.
Though Bang & Olufsen is concerned to gain their target competitive advantages and continue the development in their business they face several challenges from the competitor’s companies. Like the other sectors, the business sectors are highly dependent on the technologies and the technologies are developed and expand very quickly (Bang & Olufsen, 2018). The competitor’s companies are used high technologies and improved their business strategies and produce better quality products that why earn more competitive advantages. On the other hand, Bang & Olufsen sometimes cannot able to use such types of technologies that fail to gain improved their product quality and customers’ demand so that unable to gain sufficient competitive advantages. The other problem that is considered as an important threat for Bang & Olufsen is increasing the number of new and large companies in the electronics business world (Bang & Olufsen, 2019). The large companies have enormous funds and manpower that are very effective to gain sufficient development in the business. Though Bang & Olufsen is an old and experienced company but fails to emulate these new and large companies to exist in the global electronics market and gain target profits.
In this situation, Bang & Olufsen should more concerned to hold their strong position in the market places by applying several strategies. At first, they should create a more strong relationship with their suppliers. They can take the advantages that they have already a better relationship with the specific suppliers and the supplies are may feel hesitant to do contact with the new companies. Bang & Olufsen should improve their strategies to gain the consumers’ satisfaction by inventing good quality products and provide to the customers as possible reasonable price (Bang & Olufsen, 2019). These strategies would be more effective to retain their position in the marketplace more strongly.
2.2 Bang & Olufsen strategic direction in its corporate level
As an electronic company, the strategies of the business methods and procedures of Bang & Olufsen are highly dependent on the technologies. Strategies are changes according to the developments and changes of the new and modern technologies (Richard, 2018). Using these types of technologies is very effective for the company to invent new products and maintain the quality and fulfill the customers’ demands.
Technology is the most important factor for Bang & Olufsen to conduct the business but they should maintain the others sectors properly to expand their business such as operational sectors. Bang & Olufsen has to pay the most attention in diversification strategy at its corporate level. To use the modern technologies and maintain the managing and operational sectors of the company Bang & Olufsen should renovate their products and markets their products globally so that they can expand their business and can benefit properly (Richard, 2018). Recently they improved their Audio-visual equipment that are helpful to make a strong position in the audio-visual market. They apply diversification strategies and maintain reasonable prices of the products that can help them to expand their business in India and Brazil. Shopping and transportation costs are enormous that have an unhelpful impact on Denmark as well as Europe. Because of this; production outsourcing systems are considered a risky system and the global market adopts various strategies for managing global markets (Harrison, 2019).
Besides the others activities, Ansoff Matrix is important for Bang & Olufsen to gain further profits and make sure the suitable and strong position in the business (Kotler, 2017). Four types of activities like market penetration, product development, market development and diversification. Market penetration enlarges the sales of the goods, product development ensures the better improvement of the goods and expands the demands of these products to the definite consumers (Harrison, 2019). Bang & Olufsen uses all four kinds of activities and gets the advantages in its current market. For growing and increasing the size of the business and make more popular in worldwide diversification process is most needed (Bang & Olufsen, 2018)………………………………..