Western Strategic Business Plan

The company also provides a variety of services and products such as Simbrand services and hospitality services in various businesses and institutions across the globe (Peng, 2014). The company’s kickstart is the training of various businesses by providing simfirm services, these services help institutions and businesses in understanding the existing competition and international business environments. With advancements in technology and global market expansions in countries such as America, Asia, and Europe, competition has greatly pilled up and this has posed a great danger for the company. Due to the rising competition, there is a need for the company to establish effective strategic plans which will help counter the competition and retain the company’s customers (Mathew & Mansharamani, 2012). This report keenly looks at economics knowledge that will help the company at ensuring it remains competitive and relevant to the current market, the project also gives an overview of factors affecting the company and how they can be addressed.

Layla Nasser will head the Product operation department, he will be having the role of focusing on the company’s threats and external opportunities that the company has both in long and short-term basis. Amara Zara will head the finance department, he will be the top financial manager and will be mandated at ensuring that the company fully implements the corporate strategy. This will be of much significance and will ensure that the company remains active in the newly established markets in Asia and Europe where the demand for company services is increasing at a higher rate. Situation Analysis Competitive Situation of the Company and Industry Being a new industry in the market, the simulation industry is still developing and this makes it have low competition as compared to other industries.

The industry main competitor’s performance is extremely poor and the companies who are in the industry are sluggishly offering poor services. The already existing company reputation in the simulation business is another added advantage since it will enable the company to navigate through the competition as it attracts more customers. Ratios In order to remain competitive in the market, the company needs to take caution of certain ratios when executing the business strategy in the organization. For instance, business ratios are of much significance to the institution as they will ensure that the company fully balances its costs and revenues during its operations. Liquidity, cash and current ratios are particularly of much significance to the company and the company ought to remain focused in these particular ratios (Johnson, 2009). Current ratios will help the company in measuring and calculating the current assets divided by current liabilities belonging to the company.

Weaknesses Due to the current political tension between China and the United States of America, the already established inroads in the Asian markets are likely to dwindle and this can be bad news for the company. There have also been reports that the United States of America is proposing an increase in operating tariffs for all foreign companies operating in the USA soil. Opportunities The availability of online platforms creates a great opportunity for the company to market its products and services they offer. The expansion of the Asian market also creates an opportunity for the company to invest more and expand its territories. Consequently, the African market is slowly expanding and realizing the significance of simulation in companies and any business should take advantage of the platform. Thirdly, there is a high possibility of development of certain problems during the implementation of the service premiums to customers.

As a result, the company should lower its prices in the market in order to attract more customers to subscribe to their already established business platform. Strategic Plan Mission statement Western being an honorable company which is objected to accomplishing its set goals has its mission. The company’s mission is a dedication to becoming a big participant in the global and foreign mobile industry, supplying products and services which are of high quality to the existing markets (Steiner, 2010). The firm is also dedicated to ensuring that all customers and clients fully trust the company’s products and services for a lifetime. Marketing Just like any other business which is aiming to increase its sales, marketing is an important aspect to carry with. With its desire to expand in the Asian markets and to enter the African market, Western company is expected to increase its marketing skills through advertising, this way many customers will be familiarized with the company’s products and services.

By venturing into the African market and expanding its territories in the Asian market, the company is expected to make a 25% increase in sales in the next 5 or 6 years to come. Research and development Western company aims at improving the competitiveness of its products and expanding its market share in foreign and global markets. The company aims at increasing its research especially in the new markets, this will not only increase creativity in the production of products but also will enhance innovative strategies which will make the company flourish in the foreign markets. The company expects to introduce new products and at the same time achieve the objected economies of scale (Johnson, 2009). This will be quite crucial especially with the entrance of new markets in Africa and in Asia, entrance to new markets will enable the company to grow at an estimated rate of 20%.

Finance Funding the planned strategies will require large amounts of capital, the company is expected to capital fund through the use of various ways such as through dividends and equity funding. By borrowing loans from the bank in order to ensure the well-being of the company, the firm is expected to boost its finances in the four consecutive years. However, the company is also expected to finance itself partly through her own gained revenues in the banks. In order to ensure that the company keeps up with the pace in the changing world especially in human demand and changing technology, the mobile Inc. needs to lay down well-structured strategic plans and it fully stays at the top of its game. References Fitó-Bertran, À. López, E. S. Exploring SWOT analysis–where are we now? A review of academic research from the last decade.

 Journal of strategy and management, 3(3), 215- 251. Johnson, G. Fundamentals of Strategy. st Edition. Mansharamani, R. Simulating Business Processes: A Review of Tools and Techniques.  International Journal of Modeling and Optimization, 2(4), 417-421.