A Glasses Company’s Market Performance Improvement

Subject: Case Studies
Pages: 2
Words: 522
Reading time:
3 min
Study level: Master

Summary

In the case study, a small firm producing glasses was examined, determining the causes of its poor market performance. A major problem that was relevant was the lack of cohesion between different departments of the company, which had individual and distinct objectives (De Toni & Nassimbeni, 2003). This contributed to the disorganization and lack of direction for the company, which reflected on its operations and market performance since it lacked the necessary focus on devising a comprehensive strategy. Strategic planning and market analysis are necessary for successful product designs and launches that ensure cohesion in the company and produce goods that consumers need. Planning brings all departments together to prevent misalignment, and in turn, helps to prevent miscommunication, sales loss, and economic downturns for the company.

Knowledge/Application Area

The applicable knowledge/application area for the glasses company would be production, planning, scheduling, and control. It is evident that planning along with proper collaborative development and implementation of product designs are the major issues for the company. According to Chaston (2010), allocating sufficient time and resources to planning, where stakeholder considerations are evaluated, is necessary. It is a necessary approach that approaches all stages of a product lifecycle, balancing development, production, and reflective evaluation that can ensure success in the market and address potential barriers in risks and product design. Scheduling and control are also key components that are important to managing a product design and ensuring unity in terms of decision-making from different departments. Based on the comprehensive strategy, timetables can be established for various elements of the product lifecycle and then carefully regulated to ensure a smooth progression as the product is being prepared for market release.

Methodology

The most fitting methodology for the company, in this case, would be other descriptive models, perhaps those dealing with market analysis which is a critical concept. Some popular and broad models such as SWOT analysis, PEST analysis, and Porter’s 5 Forces are vital to market analysis, understanding consumer needs, and formulating strategy. Industry and market analysis allows for a company to review the economic, social, political, and other influential factors which underpin the business environment (Vitez, n.d.) This allows for better decision-making and establishing a competitive advantage, as well as recognized standards for a business function, which is critical for struggling businesses such as this evolving glasses company.

Planning Level

The planning level that is most fitting for the glasses company is strategic. Strategic planning can be characterized by a company defining its business strategy, allocation of resources, a collaboration of departments, and the direction that the company is heading. Strategic planning starts at the corporate level, leading to the business level, and then trickling down to the functional level, which includes the collaboration of various departments (Jannesson et al., 2014). For this case, the company struggles with the realization of its broader corporate strategy into the business aspects of market performance and functional issues at the departmental level. The strategic area can provide clarity of objectives necessary to drive the product design life cycle and collaboration among departments. It will benefit tremendously from a strategic level of planning to reform its operations.

References

  1. Chaston, I. (2010). Entrepreneurial management in small firms (2nd ed.). London, UK: SAGE Publications.
  2. De Toni, A., & Nassimbeni, G. (2003). Small and medium district enterprises and the new product development challenge: Evidence from Italian eyewear district. International Journal of Operations and Production Management, 23(5/6), 678-698.
  3. Strategy, control and competitive advantage. (2014). In E. Jannesson, F. Nilsson, & B. Rapp (Eds.), Management for professionals. Springer Berlin Heidelberg. Web.
  4. Vitez, O. (n.d.). Definition of industry analysis. Web.