Introduction to Management of ischemic disease - Myassignmenthelp.Com

Question: Discuss about the Introduction to Management of ischemic disease. Answer: Introduction In this report, BreadTalk group is taken to understand management. The external environmental analysis and issue analysis are taken to analyse Singapore economy and recommendations are also given on the economy of Singapore. The BreadTalk group is investment holding company and was founded in 2000 and has 1000 outlets in 17 locals. The company listed on the Singapore Exchange Limited in 2003 (Ying Hongcui, 2015). The group has bakery, restaurants and food atrium. The group has 850 bakeries and 26 restaurants in Singapore and Thailand. The company offers fresh products and do not use preservatives. The signature of BreadTalk is Floss Bun. The stores of group are located in the malls of Singapore and the company is also expanded internationally. The group has 746 outlets and more than 7000 employees in Singapore, Malaysia, Hong Kong, China and the Middle East. The company also holds franchise for Din Tai Fung in Singapore. The signature dish of franchise is soup dumplings Xiao long ba o. The group also launches new range of products every six months according to seasonal trends. The bakery contributes 52% of revenue, food republic 29% and restaurants around 19%. The group offers franchising opportunities. The outlet also sold rocket shaped products to celebrate Chinas astronaut in space. External environmental analysis Environmental analysis identifies all the external forces which affect performance of business. It evaluates macro environmental factors. It focuses on the factors which influences profitability of bakery industries. The companies have to make changes in the organisation to stay competitive in the environment (Combe, 2014). Opportunities: Opportunities are the chances to grow. The business can make development by using opportunities. The companies can expand its operations in other countries. BreadTalk can also diversify into some retail brands such as clothing, footwear and accessories. The companies can expand via acquisitions than setting up a new venture (Saari, 2017). BreadTalk has got success in expanding business this way. It is a better way of expansion in the Singapore economy. Threats: The company can avoid threats once its known to the facts which can be harmful. It can be in the form of competition from strong players. The rules and regulations of the economy are also threat as it constrains the activity of business. At the same time, entry of new companies has also created intense competition. The BreadTalk has competition from small bakeries like Crystal jade and Koufu. The market and growth in Singapore economy also become saturated due to its small size (Islam Mamun, 2017). Pestle analysis The dimensions of external environmental are: Political factors: The political environment in supportive in Singapore. It includes political factors such as trade laws, taxation, legislation and training. A company can develop by using these opportunities. There is less number of political riots and many trade laws to protect companies. BreadTalk faced major benefits due to the stability of government. Trade agreement of China and Singapore was also considered favourable for the company (Anderson, et. al. 2015). Economic factors: It includes gross domestic product, unemployment rates, Interest rate, inflation and currency exchange rates. These factors are helpful in influencing the purchasing power of consumers. Inflation also influences the bakery industry in economy by decreasing buying power. The Singapore government has also invested in expanding the economy. So, BreadTalk group got chance to diversify its business. Social factors: The social factors have control on the sales of products. It includes taste, belief, attitude, tradition, ethics, lifestyle and values. The population of Singapore is increasing which results in increasing demand of products. The consumption rate has also increased. The eating habits of people have also changed. Due to busy schedule of people, the demand for bakery items has increased. It has given better opportunity to BreadTalk (Ross, 2016). Technological factors: Technological advancement is the reason behind the change in lifestyle of people. It includes innovation and communication technologies. It has significant role in increasing production and decreasing cost of production. Advancement of technology has important role in the development of Singapore economy. It has improved the method of marketing. The BreadTalk has become successful in incorporating market campaign by the use of technology. Legal factors: These factors affect the business environment. The companies can legally enter into other countrys economy and have to follow regulation of other countries. When a country makes regulation for industries, the companies will be bound to follow. It can be regulations related to product, employment, patent, health and safety. The BreadTalk group has opened franchise in China and follows regulations in that country. Environmental factors: It includes climate changes and natural calamities. There is ministry in the country which works on maintaining air quality and environmental issues. Singapores business environment is relatively healthy (Lanzino Brown Jr, 2014). There are sufficient opportunities to expand existing business. The country has one of the fair judicial systems. The organisations can easily get assistance of government. BreadTalk stopped selling soya milk, as it was repackaged from Yeos packet drink. It was immoral, as it gave the impression that drink was brewed in house. Porter five forces In the porter five force analysis five industry forces are taken to define the intensity of competition. It determines the long run predictions of profitability in the bakery industry (Levanti Klein, 2016). The company can look beyond actions of competitors and can evaluate factors that can affect business environment. Competitive rivalry within an industry: The industry is growing at fast rate in Singapore. BreadTalk group have competitors from massive bakery franchises to individual bakery outlets. These are Four Leaves, Kopitiam, Prima Deli Bakery, Bengawan Solo and Food Junction. These bakeries make available similar products at cheap prices. These food courts have large number of outlets and offers discount cards to regular customers. The prices of massive bakery franchise are comparatively high whereas the prices of individual bakeries are much lower (Albert Beatty, 2014). The group faces competition from the established companies and also the companies which provides innovative products. The competition in the industry is penetrating due to slow growth and exit barriers. The company is also facing competition due to innovations and product variety of rivalries. Threat of new entrants: The new comers in bakery industry find it challenging to deal with competitive market. It is easy to enter in market due to low barriers to entry. But threat of new entrants is high. As the initial capital and the cost of equipment is low and there is less requirement of research and development. The companies in Singapore are adopting product differentiation strategy and effective distribution channel. Due to all these factors there is high level of competition which is threat for new entrants. The bakery industry requires economies of scale. BreadTalk entered in the bakery industry of Singapore in the year 2000. The company has been continuously facing competition such as product differentiation and low cost from other bakeries (Ralph Gupta, 2015). The company is safe in the restaurant and food atria business. As companies does not easily enter due to higher capital outlay and experience is also required for running a restaurant. Threat of Substitute products or services: Substitutes are great threat in the bakery industry of Singapore. As, the prices of substitutes can be relatively lower. As, bakery items of competitor companies are at lower price of BreadTalk. Substitute products can be diverse, out of which inferior products cannot satisfy needs of consumers. Like Four Leaves bakery is threat for the BreadTalk because of the similarity in products. The former one follows the strategy of providing quality goods and services. Bargaining power of Suppliers: Suppliers have low bargaining power in the Singapore bakery industry due to availability of large number of suppliers. The suppliers can easily drive the price of products as customers purchase in bulk. The suppliers cannot hike price of products as the customers are bakeries and restaurants (Christopher, Laasch Roberts, 2016). The ingredients also do not vary in quality and lowers bargaining power. The group believes in effective relationship with suppliers because of their intensive buying power. There is diverse distribution channel of products. Bargaining power of customers: Buyers enjoy huge bargaining power in the bakery industry at Singapore as they have multiple choices. The competitors in the bakery industry sell products at competitive prices. The demand for bakery items is highly price elastic. The customers are sensitive to high prices. The taste and preference of consumer changes as they have multiple choices and it also varies according to the adjustments in prices. During inflation, the buyers shift to the affordable and cheap alternatives. Evaluation of industry analysis: The buyers are having strong position in the market along with strong threats from the substitute products, low entry barriers and rivalry among competitors. The bakery industries in Singapore are viewed as attractive with significant profit margins (Stewart, 2014). Recommendations The organisation implements strategies such as Porters generics strategy to avoid problems, gain competitive advantage and to acquire position in market. The strategy has certain aspects such as: Low cost: The high cost is the problem faced by the organisation. The prices of BreadTalk are more than the competitors. The company needs to produce products at low cost while applying cost leadership in the organisation. To keep the cost low of raw materials, the company considers purchasing over dairy and wheat farms. This strategy can be achieved by lowering prices in the target market. There are three main ways to implement strategy such as by achieving high asset utilisation, low operating costs and control over value chain. This strategy is helpful in generating profit and the consumers are getting benefit out of it (Wilkinson, Wood Demirbag, 2014). Differentiation: Differentiation is unique characteristic of products. It helps to lead in the market. Such products are valued by customers. It is used for the development of products and offers distinctive attributes. BreadTalk needs to pay attention to the contributing factors to deal bargaining power of customers in market. The factors contributing in retail shops can be decoration, product packaging and attitude of staff. The BreadTalk can display motif on outlets, the matching motif on the packaging boxes of cakes and buns and conducting giveaway activity on weekends. Balloons identical to motifs can also be given free to customers with kids. This strategy helps company to charge premium price for products (Snyder, 2014). Focus on target market: It focuses on the particular part of the market. This strategy is appropriate for BreadTalk as it avoids competition with big companies. The company makes use of this strategy by focusing on the target market (Buono, 2015). It develops specified products for the particular segment of society. These are developed according to the need of customers. Such products help in building customer loyalty and are less attractive to competitors. Innovations: The company focuses on innovations to increase market share. BreadTalk produces products according to resource and capabilities of the firm. The company innovates in differentiation. It helps in gaining competitive advantage and customer loyalty. The company doing innovation offers products at high prices because of no availability of substitute products (Wheelen Hunger, 2017). BreadTalk can strengthen itself and can ignore competition by making use of innovations. As less investment is sufficient, so the company can more produce such products in order to avoid wastage. Conclusion From this report it can be concluded that BreadTalk held a competitive position in the market. The external analysis of company has helped to gain a major position in the market due to factors like opportunities, threats, legal, political, technological, economic and social. The company is also facing economy slowdown due to competitive strategy of other companies. BreadTalk has set itself as an established organisation today by using conventional business techniques. The organisation pays attention to environmental changes by constantly innovating and focusing market trends. It meets and satisfies the demand of customers by making use of PESTLE analysis. The organisation makes use of porter analysis to remain competitive in the market. On the other hand Four leave bakery is threat for the company. The competitor company produces products at similar prices. The company also follows porter generic strategies to avoid problems and acquire position in the market. The organisation focuse s on these aspects for the efficient operations. 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