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The University of the West Indies, Mona, Faculty of Social Sciences

HRNM6201: Organizational Strategies; Management,

Leadership and Organizational Ethics
Due Date: October 25, 2023
Facilitator: Mrs. Myrtle Weir

Group Members:
Sheriece Blake 620088984
Arneta Buckeridge 620154819
Kimberly Dewar 620082261
Roshell Fyffe 620014084
Sashae Jarrett 620167742
Randain Matthews 620041728
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Abstract

The case study highlights the connection between an organisation's strategy and its

success, emphasizing the importance of effective leadership and the potential for both positive

and negative outcomes in achieving organisational goals. Human Resource Managers today play

a significant role in linking the connection between organisational strategy and leadership to meet

the organisation's goals for performance, effectiveness, and objectives. In this paper, we want to

offer insight through in-depth research utilizing journals and publications that are centered on

organisational strategy, performance, and leadership.

Currently, a lot of companies understand how crucial human resource management is to

attain organisational success. After all, your most significant asset is your workforce. It is possible

to define Strategic Human Resource Management as the proactive planning and development of

an organisation's most valuable resource: its employees.

An analysis of a company's financial health and competitive advantages or disadvantages

is done using the strategy frameworks SWOT. These strategy tools were developed to examine

both internal and external factors impacting XYZ Electronics and its industry, to develop

strategies that may proactively address organisational difficulties, and its environment

(PESTLE). The company's long-term viability and sustainability depend on the results of this

research.

The case of XYZ Electronics, which Basil Briggs' father created and then handed over to

his son, will be covered in this paper. Basil, whose leadership style is laissez-faire and whose

vision is myopic, needs to recognize that the changing economic environment necessitates that

his methods change if he is to continue to be prosperous and a titan in the sector he formerly

controlled. This essay analyzes the current tactics and suggests the adjustments required for
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success. The business is being compared to firms like Blackberry and Apple. Every company

requires a strong organisational strategy in order to lay out a plan for the future.

With the introduction of new executives to the company, who have the zeal to take

immediate action concerning the company’s current state. XYZ Electronics have initiated the

strategic management planning process, the faith of the company will be determined by how well

management formulate, implement and evaluate strategies, to combat the current internal and

external challenges and capitalize on its existing and potential strengths.

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Table of Content

Glossary.……………………………………………………………………………………5

XYZ Electronics New Vision Statement, Mission Statement, and Core Values…………..7

The Justification of XYZ Electronics New Vision Statement and Mission Statement…….8

XYZ Electronics Strength, Weakness, Opportunities, Threats Analysis………………….10

Recommend Strategies for Product Development (Portfolio Diversification),

Differentiation Strategy, Cost Leadership, Product Innovation and Market Expansion…..16

The Importance of Establishing a Sustainable Competitive Advantage and

How It Can Be Achieved…………………………………………………………………..22

The Evaluation of the Leadership Style Currently in Place and its

Impact on Employee Motivation and Performance………………………………………..27

Transformational Leadership……………………………………………………………....33

Propose Strategies for Building a Cohesive Leadership

Team That Shares a Common Vision……………………………………………………...37

Change Management………………………………………………………………………42

Implementation and Monitoring of Product Development (Portfolio Diversification)

Strategy, Differentiation Strategy, Cost Leadership Strategy, Product Innovation
Strategy and Market Expansion Strategy and Key Performance Indicators………………44

Conclusion…………………………………………………………………………………67

References…………………………………………………………………………………69

Group Reflection ………………………………………………………………………….74

Appendices………………………………………………………………………………...76

Addendum…………………………………………………………………………………81
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Glossary

Abbreviations:

COGS Cost of Goods Sold

HR Human Resource

HRMD Human Resource Management and Development2

PESTLE Political, Economic, Social, Technological, Legal and Environmental

SHRM Strategic Human Resource Management

SWOT Strength, Weakness, Opportunities, Threats

Definitions:
i. Business Strategy: An outline of the actions and decisions a company plans to take to

reach its goals and objectives (Indeed Editorial Team, 2020).

ii. Cohesive Leadership: Cohesive leadership refers to the type of leadership that is

concerned with the mobilization of vision into robust actions.

iii. Digital Transformation: The transformation of business processes, operations, and

structures to exploit the benefits of new technology, (Matt et al., 2015).

iv. Growth Wheel: The visual tool helps to quickly identify the most important Focus

Areas and define decisions and actions the business should be working on.

v. Human Resource Management Practitioner: A HR Practitioner is a person who works

within the human resources department in a company or organisation (“HRP Practitioner

Meaning and Role,” 2021).

vi. Leadership: Leadership is the process by which an individual determines direction,

influences a group, and directs the group toward a specific goal or mission (SHRM, 2019).

vii. Mission: A mission statement tells an organisation its reason for being/existing.
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viii. Resource Based Technique: This is a model that sees resources as key to superior firm

performance. If a resource exhibits VRIO attributes, the resource enables the firm to gain

and sustain a competitive advantage. (Jurevicius, 2021).

ix. Sustainable Competitive Advantage: A Sustainable Competitive Advantage (SCA) is a

unique value proposition that a business sustains over time to outperform its competitors.

SCA is not a one-time achievement but a continual process of innovation, improvement,

and strategic planning. It’s the compass that guides a company through the rough seas of

market competition, ensuring it stays on course toward success (Bhasin, 2023).

x. SWOT: SWOT analysis aims to identify the strengths and weaknesses of an organisation

and the opportunities and threats in the environment. Having identified these factors,

strategies are developed which may build on the strengths, eliminate the weaknesses,

exploit the opportunities or counter the threats (Dyson, R. 2002).

xi. Transformational Leadership: Transformational Leadership involves the leader

changing the values, beliefs and attitudes of followers. The leader motivates followers by

providing a vision of where the group is heading in the future and developing a work

culture that encourages high performance activities (Riggio, 2013).

xii. Value Statement: A company's value statement defines actions that validate the

important or fundamental values held by most individuals within an organisation.

xiii. Vision: A vision statement usually answers the question of what a company wants to

become.
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XYZ Electronics New Mission Statement and Vision Statement

A company’s success is heavily reliant on their ability to identify and define their main

aims and overarching goals. The mission and vision statements are tools used to identify, expand

and convey the organisations goals and objectives. Most importantly these statements guide the

strategic direction of a company and when reinforced correctly, increases the perceived value of

a company. These statements are vital in developing the strategic management process, which

involves scanning the business environment, collecting and scrutinizing information for strategic

reasons. The mission and vision statements essentially instruct the managers on what to look for

when hiring and making crucial business affecting decisions. The HR Practitioner should use

these statements to motivate current employees and attract top talent.

XYZ Electronics Vision Statement

To be the most customer centric company of choice for high-quality, diverse and

innovative electronic products.

XYZ Electronics Mission Statement

Our Mission at XYZ Company is to gain market prominence by adopting radical

innovation and redefining our approach to product development, customer engagement and

leadership. Through strategic management and diversity, we aim to rekindle the trust and loyalty

of our staff and customers. Our commitment is to evolve into the leading company for high-

quality products in the electronics industry, setting new standards for excellence, sustainability

and stakeholder satisfaction.

XYZ Electronics Core Values

Customer Centricity, Teamwork, Innovation, Integrity, Excellence.

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The Justification of XYZ Electronics New Vision Statement and Mission Statement

The mission and vision statement summarizes the overarching goals of the company, and

guides managers when deciding which strategies to apply and how to implement them. The

strategic management process involves identifying the company’s pain points (strengths,

weaknesses, opportunities and threats), and defining the strategies that the organisation’s

managers will apply and evaluate to improve performance. A mission statement communicates

an organisation’s purpose, identity and core objectives. This statement outlines the wider

approach to actualizing its vision and helps with deciding effective strategies to accomplish its

goals. It answers questions “Who are we?” and “How do we plan to achieve our purpose?”. Rarick

& Vitton (1995, as cited in, David, 2011) stated that “firms with a formalized mission statement

have twice the average return on shareholders’ equity than those firms without a formalized

mission statement have.” XYZ Electronics' new mission statement satisfies all elements of a good

mission statement as it clearly outlines the overarching objectives of the company (product

development, customer engagement and leadership) and outlines how the company plans to effect

change in these areas (adopting radical innovation, strategic management, and diversity).

The vision statement establishes the long-term goals of a company and promotes a

positive, idealistic, and inspirational future image of the business. This guides the strategic plans

and decisions of its managers (Wheelen, T. L., & Hunger, J. D. 2017). XYZ Electronics' new

vision statement outlines the key areas to be addressed, (diversification, innovation, and

stakeholder satisfaction). It also refers to the defining strength of XYZ Company, which is its

high-quality products that may not be easily replicated by newer organisations within the industry.

The core values of an organization are the clearly stated key principles a company focuses on;

these are power words summarizing the mission and vision statements.
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Additionally, these statements form the corporate image and culture which a company

will use to attract and keep its stakeholders. They define how the company wants to be perceived

not only by customers but by investors, employees, and all other stakeholders as it sets the tone

for how the company will operate internally and externally. “An organisation that fails to develop

a vision statement as well as a comprehensive and inspiring mission statement loses the

opportunity to present itself favorably to existing and potential stakeholders” (Fredd R David).
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XYZ Electronics Strength, Weakness, Opportunities, Threats Analysis

A strength, weakness, opportunity and threat (SWOT) analysis is a strategic planning tool

used by organisations to identify and evaluate their internal strengths and weaknesses, as well as

external opportunities and threats in their operating environment. The purpose of conducting a

SWOT analysis is to gain valuable insights that can inform strategic decision-making and help

the organisation to capitalize on its strengths while addressing its weaknesses and mitigating

threats. Daniel Kissinger (General Electric (GE) SWOT Analysis & Recommendations 2023)

emphasizes that the SWOT analysis model defines and evaluates the internal strategic factors

(strengths and weaknesses) and external strategic factors (opportunities and threats) relevant to

managing the business. These factors represent the various markets and environments that an

organisation operates in, and should provide a realistic view of the company’s strategic and

competitive position within its industry.

(Will, 2023) states that a company should conduct a SWOT analysis at various strategic

points in its lifecycle and during crucial decision making. In the case of XYZ Electronics it is

pivotal for the company to establish a SWOT analysis at this junction, as the company has passed

its maturity phase and is currently on a decline. This will allow its managers to evaluate the

company’s competitive position and help with identifying pain points that are causing the

company to be facing setbacks. In establishing the strengths, weaknesses, opportunities and

threats of XYZ Electronics the managers should prioritize these factors when choosing the

strategies to ensure that the company is addressing the actual problems and ensure that the

organisational strategies being developed matches the SWOT based on its significance in the

business.
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XYZ Electronics Strengths (Internal Factors)

The strengths component of the SWOT analysis refers to the internal capabilities and

positive characteristics that gives the company a competitive edge. These are the areas the

company excels at, that enhances its ability to compete within the industry markets. XYZ

Electronics will formulate strategies that match and enhance these capabilities. The XYZ

Electronics strengths includes:

1. Strong Company Legacy / Brand Recognition

2. Existing Customer Base

3. Established Supply Chain

4. High Quality Products

Strong Company Legacy/ Brand Recognition is one of XYZ Electronics main competitive

advantages within its industry as it represents the company’s historical reputation. XYZ

Electronics has been around for over a decade and was once a leader in innovation, known for

high-quality products. This positive association influences customers’ perceived value of the

company and will allow for easier market penetration. This will enable the company to attract and

retain customers. An existing customer base refers to the group of customers who regularly

purchase the company’s products. Understanding and leveraging this customer base will allow

XYZ Company to experience customer satisfaction. The established supply chain will allow the

company to better achieve economies of scale.

XYZ Electronics Weaknesses (Internal Factors)

In the context of a SWOT analysis, weaknesses are defined as the internal factors that

imposes difficulties and hinders the company from achieving its goals. This component considers

the significant internal limitations of XYZ Electronics management. The aim is to reduce the
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impact of its weaknesses on its competitive advantage. In planning the managers will be mindful

of these limitations and will be able to develop strategies to mitigate and overcome them. The

XYZ Electronics weaknesses includes:

1. Lack of Innovation

2. Outdated and Inefficient Internal Processes

3. Ineffective Communication

4. Resistance to Change Within the Organisation

5. Lack Of Strategic Direction and Vision

6. Ineffective Leadership Style

Lack of innovation stifles XYZ Electronics brand and product reputation, this contributes

heavily to the company’s customer dissatisfaction. Due to the company's outdated and inefficient

internal processes the product development is stalled, and based on the change in market climate

XYZ Electronics has lost its competitive advantage. This also affects the customer’s experience.

Ineffective communication negatively impacts the strategic decision-making process of XYZ

Electronics. This may cause employee unrest due to lack of transparency or last-minute

communication, leading to confusion and undue fear. This may also contribute to the employees

being resistant to change within the organisation as matters may not be clearly explained for

employees to understand the need for change as well as its benefits. It is important for the

leadership style to match the operations and needs of the company, it should also work well with

the internal characteristics and vision of the organisation. Lack of strategic direction and vision

impacts all areas of the company.

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XYZ Electronics Opportunities (External Factors)

Opportunities in a SWOT analysis are the external factors or circumstances that present a

potential for growth and improvement in XYZ Electronics business. Identifying a company’s

opportunities is essential in the strategic planning process, as the company is required to develop

strategies focused on leveraging these benefits to the advantage of the organisation. Management

decisions must consider the following opportunities available to XYZ Electronics:

1. Technological advancements

2. Product innovation

3. Customer engagements

4. Emerging market trends

5. Unsuitable leadership style/ staff dissatisfaction

Technological advancements refer to the continuous evolution, innovation and

enhancement of tools, systems, devices, processes, and methodologies used to create, manage and

utilize knowledge, information and resources (ChatGPT, 2023). For example, XYZ Electronics

can employ new machinery or systems to speed up the product creation process. These

advancements also assist with product innovation which is one of XYZ Electronics major

opportunities – developing the products based on market research will allow XYZ Electronics to

better compete in emerging markets, boosting customer engagement, and ultimately helping its

managers to align with the company’s corporate mission and vision. If these opportunities are

capitalized on, XYZ may experience growth, innovation, and market expansion.

XYZ Electronics Threats (External Factors)

Threats are external strategic factors or circumstances that impose limits/challenges that

could harm or hinder XYZ Electronics’ ability to achieve its objectives and goals. Threats reside
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in XYZ Electronics external business environments and are beyond the organisation's control but

can negatively impact its performance and competitiveness. The following threats are considered

in the case of XYZ Electronics:

1. Fierce Competition from Industry Leaders

2. Rapidly Changing Technological Landscape

3. Economic Downturns Affecting Consumer Spending

4. Changes in Market Trends and Stringent Regulatory Requirements

5. Decline in Market Share

Based on the growing demand for electronics and software products, XYZ Electronics

faces fierce competition from innovative industry leaders. The company finds that the rapid

change in the technological landscape requires continuous innovation and strategizing to interact

in this aggressive market. Management is required to continually develop strategies that

effectively respond to the changing competitive landscape and to combat economic downturns

that may affect consumer spending habits as well as remain in compliance with the stringent legal

and regulatory requirements. The management team will also be required to implement strategies

that remedies the decline in the company’s market shares.

XYZ Electronics SWOT Analysis Summary

Having acknowledged the strengths, weaknesses, opportunities, and threats, XYZ

Electronics now has a realistic idea of its market position. The SWOT analysis has revealed that

the company is struggling internally from poor management/ unsuitable leadership, and poor

communication which will need to be addressed for improvements. Though the company has high

quality products, existing customers, and a strong brand legacy on their side; they will need to

capitalize on emerging market trends, customer engagement, product innovation and change
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management to offset its weaknesses. Additionally, this will mitigate against the threats of

competition and change in market climate. XYZ Electronics must consider its SWOT analysis,

mission, and vision statement to formulate a business strategy that will achieve them.
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Recommend Strategies for Product Development (Portfolio Diversification), Differentiation

Strategy, Cost Leadership, Product Innovation and Market Expansion

Business strategy is a comprehensive plan created to achieve a specific set of goals and

objectives. The business strategy of a company defines what the business must do to combat its

threats and weaknesses and capitalize on its strengths and opportunities, as such it provides

strategic direction and must be considered when making decisions concerning resource allocation

and hiring. “Strategies affect an organisation’s long-term prosperity, typically for at least five

years, and thus are future-oriented. Strategies have multi-functional or multidivisional

consequences and require consideration of both the external and internal factors facing the firm”

(David, 2011). The business strategy simply put, is the pathway or roadmap to the company’s

success thus, if not correctly planned or suitable for the organisation, the company may experience

major downturns within its internal and external environment.

Based on XYZ Electronics current market position derived from its SWOT analysis, the

company must implement strategies that fosters diversification, product innovation and market

expansion. The company needs to first adopt a People First Approach: XYZ Electronics Human

Resource practitioners should address the company’s internal weaknesses by adapting a people

first approach that aims at correcting their staff’s resistance to change and breakdown in

communication. People fuel change and sustain its momentum. Change initiatives fail when the

people involved don’t understand, believe in, or engage in the change (Hannum, 2021). Leaders

make change easier when they engage employees in the change. Leaders accomplish this through

proactive change management communication that creates a desire to change across the

workforce. XYZ Electronics Human Resource practitioners should promote the following:

Empower employees through communication: Change management communication isn’t a

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one-time transfer of information. It requires commitment, clarity, and consistency. It should

engage employees through two-way communication methods like surveys, focus groups and

informal feedback collection (Lisa Hannum 2021). Active and visible executive leadership:

This is the top reason change initiatives succeed. The HR Practitioner should educate leaders on

their roles, and enable them to achieve change successfully. Make change compelling and

exciting: XZY Electronics should introduce an engagement team to ensure employees are

motivated and excited about change rather than resistant.

The diversification strategies are defined by (Hitt, M. A., et al 2016) as “A corporate-level

strategy that involves expanding a company's business operations into new markets, industries,

or product lines that are distinct from its existing offerings. The goal is to achieve a broader

portfolio of products or services, minimize risk exposure associated with a single market or

industry, and capitalize on emerging opportunities”. For XYZ Electronics to recover and grow

the company must apply the following strategies:

1. Product Development (Portfolio Diversification)

On the basis that the XYZ Electronics products are deemed to be “outdated” it would serve

the company well to diversify their product offering. Introducing new product lines that cater to

different market segments or industries, to leveraging the company's existing capabilities and

expertise. This also includes product extensions, that is to modify existing products to create

variations or upgraded versions that appeal to a broader customer base. This strategy will allow

XYZ Electronics to actualize its opportunities for product innovation and to enter emerging

markets.
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2. Differentiation Strategy

Differentiation aims to make products attractive based on features, brand image, quality,

and related variables. This strategy relies heavily on research and development and will require

XYZ Electronics to invest in this area, to ensure their products maintain good quality and are

unique in comparison to their competitors. This will ensure that they establish a competitive

advantage within their industry. This strategy supports the company’s opportunities of

technological advancement and product innovation, as well as mitigating the threat of fierce

competition. Unique and exclusive features may include solar powered electronics, extended

warranties and after sale technical support.

3. Cost Leadership

A cost leadership strategy hinges on a company's ability to lower costs of production to

offer quality products at low prices (MasterClass, 2022). Cost leadership strategies prioritize

having the lowest operating costs. Given that XYZ Electronics has been in existence for several

years, has established supply chains and purchases in bulk, the company would benefit from

economies of scale.

XYZ Electronics should apply this strategy to a subsection of its product line to benefit

from the following: Cost Leadership Competitive advantage: Low costs allow them to lower

prices while still making a profit. Withstand price wars: Cost leaders are more able to withstand

price wars and can gain more market shares from selling more products. This is also a good

marketing strategy for the company as their products would be more widespread and would gain

traction from customer recommendation. Increased market share: Cost leaders may enjoy

increased market share. A large share of consumers is price-sensitive and gravitate toward the

companies offering the lowest-priced goods. This means that the company with the lowest prices
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is likely to sell the most units. Once XYZ Electronics implements this strategy they will also

experience improved economies of scale and may be able to partner with their suppliers in the

long run. Employing this strategy will also require the company to invest in the development of

new technology that will increase efficiency (MasterClass, 2022).

4. Product Innovation
These are approaches employed by organisations to introduce new products or improve

existing ones with the aim of satisfying customer needs, gaining a competitive advantage as well

as to drive growth.

This strategy requires: Market Research and development: This is the process of

conducting thorough market research and gathering data, based on customer feedback to identify

customer pain points, needs as well as their preferences. Conduction proper research will aid XYZ

Electronics in capitalizing on its opportunities of product innovation and identifying market

trends. Training and development: The XYZ Electronics Human Resource Practitioner should

foster innovation through establishing a team of innovative individuals to train their current staff.

The human resource practitioner should ensure that the selection process for this team is rigorous

and result in the company employing top talent. Incentivized innovation: The company should

encourage innovation and creativity through incentives and rewards. XYZ Electronics should roll

out an internal programme that allows employees to make suggestions and be compensated or

rewarded for good contribution. Once the products are aligned with market standards and are

more current/ modern, XYZ Electronics will experience an upsurge in purchases, and will be able

to take advantage of the technological advancements that exist within the market, this will

establish a clear competitive advantage.

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5. Market Expansion

Market expansion is a growth strategy that aims to make a product or service available in

new markets when existing ones get saturated. A market expansion strategy starts with analyzing

existing and future channels of distribution and concludes with adopting measures to increase

reach and sales in the markets of interest (Global Business, 2023).

This strategy includes the following: Market Penetration: This strategy is when a

company works towards a higher market share by tapping into existing products in existing

markets. It’s how a company (that already exists in the market with a product) can grow business

by increasing sales among people already in the market (Baker, 2022). Through intense market

research XYZ Electronics should collaborate with their retailer and distributors to increase their

physical presence and product availability. Coupled with the cost leadership strategy, for the

subsection of products that will be low cost focused XYZ Electronics should offer those products

at discounted prices to further saturate the market with its brand.

Localized Market Campaigns and Advertisements: To expand the company’s market

share, XYZ Electronics should tap into its current geographic locations by introducing localized

marketing and sales campaigns. This strategy will require the marketing teams within the various

geographic locations, to stay current with the news and current affairs to create advertisements

that the customers gravitate towards. Increased Online Presence: XYZ Electronics should also

strategically expand market reach through online platforms and online partnerships. This will

enable the company to take advantage of globalization, allowing them to reach new geographic

locations through platforms like Amazon, EBay, etc. without having to set up physical shops.
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XYZ Electronics Strategies Summary

By introducing and reinforcing a new mission and vision statement XYZ Electronics will

attract the attention of its stakeholders. Using a people first approach will address the company’s

weaknesses; changing the characteristics of the organisation, its leadership style, and the way the

employees interact on varying levels (transformational leadership/change management). XYZ

Electronics will capitalize on the external opportunities through product innovation, market

research, and training and development. With the use of the differentiation and product innovation

strategies, the company will better its position within its competing market, striking out its threats.

Using its strong legacy and pre-establish supply chains (strengths) to gain economies of scale,

XYZ Electronics, through its cost leadership approach will be able to lower product cost and

invest in new technology and marketing plans. The company will gain competitive advantage,

increase its market share, and regain market prominence, all together achieving the overall

mission of becoming leaders in innovation and customer centricity.

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The Importance of Establishing a Sustainable Competitive Advantage and How It Can Be

Achieved

A company's long-term success in the market depends on a durable competitive edge.

Without this advantage, businesses are more susceptible to shifting consumer expectations and

greater competition. The aim of a company's strategy is to establish a distinct position in the

market, add value for its customers and stakeholders, and increase revenue. Long-term success

requires a company's strategy to be flexible enough to respond to shifting customer needs and

growing competition. High value of product and quality without sacrificing pricing may provide

a XYZ Electronics with a significant, sustained advantage.

A sustainable competitive advantage is a long-term strategy or process that allows a

business to remain ahead of its competitors. Unlike short-term advantages, such as being the first

to market a new type of product, a sustainable competitive advantage may be built into the fabric

of a business and will help maintain its dominance over years and even decades. The development

of such an advantage often takes dedicated effort, the ability to consistently innovate, and even

some luck. (Ellis, 2023)

Sustainable competitive advantages can be seen as company assets, attributes, or abilities

that are difficult to duplicate or exceed and provide a superior or favorable long-term position

over competitors. A company with a strong brand reputation may also have a long-term advantage

because it is challenging for rivals to match the level of loyalty and awareness. Such advantages

may be influenced by several elements, including branding, customer service, technology,

product design, and distribution channels. This promotes sustainability because imitation and

replication demand a lot of labour.

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The Resource-based view technique can be used to establish a long-lasting competitive

advantage. This idea postulates an organisation based on four criteria: value, rarity, imperfect

imitable quality, and non-substitutable quality. Let us examine the principles aligned with this

school of thought and their applicability to XYZ Electronics. A resource, good, service, or

business procedure must be valuable to customers, rare if difficult to obtain, imperfectly imitable

if difficult to duplicate, and non-substitutable if it cannot be replaced by an equivalent resource,

product, service, or business process. These qualities ensure the uniqueness and worth of the

product or service. If a firm’s valuable resources are absolutely unique among a set of competing

and potentially competing firms, those resources will generate at least a competitive advantage.

To gain and sustain a competitive advantage, it is important to establish a clear vision and mission

statement, formulate strategies, implement strategies, and evaluate and monitor results.

With these qualities, XYZ Electronics would achieve its sustainable competitive

advantage. With the emergence of new technology companies and software, (e.g., Apple Inc.),

XYZ Electronics will focus on innovation and high-quality design to carve a niche in the

electronic industry. Managers may choose the best courses of action to enhance the company

based on its core competencies or long-term competitive advantages, which fulfill all four VRIO

factors.

XYZ Electronics must strategically position the company to deliver technologically

cutting-edge goods that establish the company as a key participant as these other sectors and

markets expand. XYZ Technologies must ask themselves these strategic questions: what are the

tools that are needed to carve out a sustainable competitive advantage for our business? and what

holds the key to achieving this goal especially in the realm of technology? The landscape has

changed due to the emergence of technology. The solution lies in the utilization of technology. It
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is imperative to use technical innovation, facilitate the creation of an exceptional user experience,

and finally look at automating the process of customer service. XYZ Electronics Technologies

plans to utilize specific resources to establish and maintain a long-term competitive advantage.

a. Analyzing other businesses in the industry: XYZ Electronics Technologies is utilizing

industry analysis to identify growth opportunities and potential threats, benchmarking against

formidable competitors like Blackberry and Apple. The company will use this information to

develop new products, target new markets, and develop marketing strategies. By identifying

customer expectations and weaknesses, XYZ Electronics can assess weak areas in its marketing

campaigns and gain an edge over competitors, ultimately enhancing its product line and market

penetration.

b. Using a customer-centric approach to customer service: XYZ Electronics

Technologies will enhance customer relationships and loyalty by creating more products and

tailoring services to address customer concerns. This approach provides a competitive advantage

by demonstrating a commitment to serving and catering to customers' needs. The process starts

with product inquiries and ends with after-sale follow-up and service, providing feedback on

business transactions with XYZ Technologies.

c. Innovation through product development and research: This is a crucial aspect of our

business strategy. XYZ Electronics Technologies plans to collaborate with software developers

and invest heavily in R&D to stay competitive and offer advanced solutions, recognizing the

significance of conducting industry surveys to understand market trends and customer needs. It

is the strategy of XYZ Electronics Technologies to ensure a new product line is released at the

end of each year to stay ahead of the competition and meet the evolving demands of the market.
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This approach allows the company to regain and maintain its position as a leader in the industry

and continue to grow and expand its customer base.

d. Content Creation: XYZ Electronics Technologies plans to enhance its online presence

through content creation, including blogs, articles, and videos, to expand its customer base and

cater to different demographics. This will enable older customers to receive training for new

models, while younger customers will gain insights into their market dominance through their

current products.

e. Creating partnerships through the use of influencer marketing: XYZ Electronics

Technology is partnering with influential social media influencers to market their products and

services, aiming to build customer connections and increase brand recognition. Social media

influencers significantly influence younger demographics' purchasing power, leading them to

purchase new technology gadgets from specific stores. This strategic partnership will help XYZ

reach a wider audience. This partnership creates a better competitive advantage.

It is evident that digital automation has yielded an increase in profit returns and improved

internal business processes. This is seen in the automation of all back-office tasks, improving

workflows, and creating a more efficient and affordable process. If XYZ Technology conducted

an analysis of their business processes, they would be able to pinpoint any gaps and the impact

these would have on their customer service experience. One might draw the conclusion that XYZ

Technologies would not be able to assess their lack of relevance to the present market for the

items they are supplying if their internal processes have not improved.

In summary, sustainable competitive advantage provides the knowledge needed to focus

on factors that affect corporate sustainability beyond numbers in the financial analysis, ultimately

resulting in long-term success. Making adaptive modifications to their manufacturing strategy is

26 | Page

a major problem for all businesses in the fast-paced commercial world of today. The management

of businesses can clearly see how to prioritize their production strategy to get a competitive edge

thanks to the sustainable competitive advantage analysis. By understanding their strengths and

limitations, businesses may make wise decisions and stay one step ahead of their rivals.

Sustainability begins to play a more and more significant role in the strategic management of a

firm as a result of the fast economic expansion and globalization. We looked at sustainable

competitive advantage from the perspective of available resources. Sustainable competitive

advantages relate to the external environment as well as the internal context.

27 | Page

The Evaluation of the Leadership Style Currently in Place and its Impact on Employee

Motivation and Performance

According to (Maxwell, 1998) “Everything rises and falls on leadership”. Leadership is

defined as the process through which leaders influence others to be more effective in working to

achieve mutual goals while maintaining effective relationships among members (Johnson and

Johnson, 2014). In order to maintain efficient operation of the organisation, leaders need to

undertake important functions such as setting goals, motivating subordinates, participating in

decision-making, and giving feedback (Bass and Bass, 2009).

Studies have recognized that leaders are seen as decisive factors for the strategy and

success of the organisation (Kotter, 1995). Innovation and the capacity of an organisation to adjust

to the evolving leadership environment are associated with leadership style, which is why

organisations are constantly in search of influential and dependable leaders (Judge, 2011).

When it comes to shaping the motivation and performance of employees within an

organisation, effective leadership is one of the most vital components. It can inspire, guide, and

empower employees, by fostering a positive work environment and driving enhanced productivity

and performance. Therefore, the manager-employee relationships become important for

achieving employee motivation by applying effective styles of leadership.

At XYZ Electronics, the laissez-faire leadership style was identified within the company.

According to (Luthans, 2011), laissez-faire leadership style is an abdication of responsibilities

and restraint from involvement in making decisions. Generally, leaders who are following the

laissez-faire leadership style are considered passive leaders and are uninvolved in the work with

their followers and co-workers. (Hinkin and Schriesheim, 2008) states that laissez-faire leadership

is an “absence of leadership”. There are varying views that surround the effectiveness of a
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Laissez-faire leader and (Goodnight, 2011) stated that it may be the best or the worst of leadership

styles.

Advantages of the Laissez-faire Leadership Style

(Oprea et al., 2022) found out that laissez-faire leadership may lead to positive job crafting

behaviors. This leadership style can promote creativity and innovation in work ideas and tasks

assigned to workers. It is best used when the workers are highly educated, knowledgeable, and

competent to take responsibilities without any supervision and observation of a leader (Kshirsagar

and J Ramgade, 2021). Another benefit of the laissez-faire leadership style is that it encourages

ownership and accountability, which stems from autonomy. Employees are more likely to take

responsibility for their work and its outcomes when they have the freedom to make decisions.

According to (Yang, 2015) a hands-off approach by a leader can allow employees to feel

respected and autonomous, suggesting that there are beneficial effects of low or non-involvement

on the part of leaders. This leadership style can be useful when a new manager takes over a

department or company. They may not want to disrupt the current chemistry or progress of the

team and instead, may want to assess the situation first, until a rapport is developed with the

employees. However, it should not be used long-term because it does not improve team building.

In the case of XYZ Electronics, we see this style of leadership continuing for 5 years and not

yielding a positive impact on the employees.

Disadvantages of the Laissez-faire Leadership Style

According to Mathieu (2021) the laissez-faire leadership style has the greatest potential

for negative impact. Einarsen et al (2007) regards laissez-faire leadership as a form of destructive

leadership. They argued that laissez-faire leadership violates the legitimate interests of the

organisations and their employees by undermining organisational objectives and /or subordinates'
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well-being. Bass and Avolio (1997) regard laissez-faire leadership as an ineffective leadership

style together with active corrective leadership (leading by monitoring and focusing on mistakes)

and passive corrective leadership (waiting for things to go wrong before intervening).

One of the most significant drawbacks of laissez-faire leadership is the lack of direction

and guidance provided to employees. When leaders are too hands-off, it can leave employees

feeling lost, uncertain, and without clear instructions on how to proceed with their tasks. This is

an evident shortcoming in the leadership of XYZ Corporation which is seen by its inability to

articulate a well-defined and motivating vision for the company's future. This absence of a clear

vision caused employees to feel disoriented and lacking direction.

According to Al-Malki and Juan (2015), laissez-faire leaders do not provide continuous

feedback for their employees, which is regarded as an essential element of successful teamwork.

Due to the certain disadvantages provided by the leadership, team members may suffer from lack

of communication, feedback for improvement and at the end, they may fail to meet the deadline

for project completion. A recurring characteristic of XYZ Electronics’ leadership was the

breakdown in communication. Communication from the top-down was irregular and lacked

openness, causing employees to feel excluded from the decision-making procedures leading to

them becoming resistant to change. Vital details, like alterations in the organisational structure or

financial difficulties, were frequently kept hidden or presented in a diluted manner, which eroded

trust within the workforce.

According to (Skogstad, et al., 2007), laissez-faire leaders do nothing, and this omission

has negative consequences for firms. Many supervisors rarely understand this and are usually of

the view “that doing nothing will have no effect on performance” (Hellriegel & Slocum, 2007).

Nevertheless, when supervisors do not act following worker behaviour they often demotivate
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good performers and frequently encourage poor workers. Those who practice “if you don’t hear

from me, you know you are doing fine” (Hinkin & Schriesheim, 2004) may be doing more harm

than they suspect. These types of managers change performance for the worse by either:

decreasing the probability of future desired behavior or they open the door for increased levels of

undesired performance.

Another limitation to the laissez-faire leadership is lack of accountability. According to

Harbor (2023) the lack of accountability affects the morale of other team members. While these

leaders are supposed to take accountability for the group, some may use this to shirk their

responsibility for outcomes. As a result, employees could bear the brunt of the blame for

unfavorable issues, making them fearful of trying anything new. This is demonstrated in the

leadership team of XYZ Electronics, where they failed in instilling a culture of accountability,

leading to a situation where there were no repercussions for subpar performance or unethical

conduct. Prominent figures within leadership, such as Basil, frequently evaded taking ownership

of the company's shortcomings, which further diminished trust and employee morale.

Ineffective decision-making is another characteristic of this leadership style. Laissez-faire

leaders often avoid making decisions and hesitate instead of actively responding to the leadership

situation needed (Piccolo et al., 2012). Critical decisions may be delayed or poorly made when

leaders do not actively participate in the decision-making process. In situations requiring quick

and decisive actions, this can be detrimental. At an organisational level, by being indecisive and

uninvolved, laissez-faire leaders can lose the organisation important opportunities. The damages

can be especially costly when the market environment is unstable and changing fast. This is

similar to the decision taken by the CEO of XYZ Electronics, Basil Briggs to “wait out” the period

of deterioration and to disregard the shifts in the competitive industry landscape by failing to
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implement substantial changes to tackle the company's current challenges. Additionally, laissez-

faire leadership can result in poor crisis management. When these leaders fail to correct mistakes

and system loopholes when trouble first emerges, these issues can become more serious and start

to wreak havoc on the team or organisation.

Impact of Laissez-Faire Leadership Style on Employee Motivation and Performance

Many studies have explored employee motivation and its effects on both organisational

and individual performance. Research has also investigated the various strategies that leaders can

employ to improve employee productivity and shape leaders' impact on employee dedication and

performance. Regardless of the organisation's scale or field, employee motivation has the

potential to influence an organisation's development and effectiveness, contributing to its growth.

According to Zareen, et. al., (2014), motivated employees become more involved and

committed to their tasks and assignments and work hard for the achievement of organisational

goals. Frischer and Larsson (2000) documented that superiors’ lack of initiative and action can

also have detrimental effects on subordinates’ job satisfaction and efficiency. Lazaroiu (2015)

stated that a lack in employee motivation can be detrimental causing such problems as

complacency, disinterest, and widespread discouragement. Skogstad, et. al. (2014) noted that with

the Laissez-faire leadership style there is no attempt to motivate followers or to recognize and

satisfy their needs. Research has shown that exposure to laissez-faire leadership behavior has been

shown to be negatively associated with subordinates’ job satisfaction (Judge & Piccolo, 2004) as

well as satisfaction with the leader and leader effectiveness (Bass & Avolio, 1994; Judge &

Piccolo,2004; Yammarino, Spangler, & Bass, 1993). Rima Ghose Chowdhary (2014), examined

the impact of leadership styles on employee motivation and commitment: an empirical study of

selected organisations in the corporate sector. The Laissez-faire leadership style was found to
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have a negative co-relationship to employee motivation. The research concluded that the effective

leadership styles utilize the strategies for improving positive impact on supervisor and employee

relationship.

On the other hand, several studies have suggested that laissez-faire leadership may not

necessarily lead to negative outcomes. For example, when considering the connection between

laissez-faire leadership and motivation, Chaudhry and Javed (2012) suggested that laissez-faire

leadership shows a positive, yet statistically insignificant, correlation with employee motivation.

In contrast, both Zareen et al. (2015) and Fiaz et al. (2017) discovered that laissez-faire leadership

has a significant and positive influence on motivation. One explanation for the inconsistency in

findings may be explained by boundary conditions under which laissez-faire leadership may have

different effects on their subordinates. According to the stress theory, individuals’ cognitive

appraisals are determined by the extent to which an environmental event threatens or facilitates

their personal goals (Lazarus and Smith, 1988). While laissez-faire leadership is commonly

regarded as a significant source of workplace stress (Skogstad et al., 2007), individuals with

varying achievement objectives, such as a focus on learning goals or performance-prove/avoid

goals, might interpret this stressor differently. This differential interpretation can result in distinct

cognitive assessments, like viewing it as a challenge or a hindrance, ultimately influencing their

job performance.
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Transformational Leadership

James MacGregor Burns first introduced the concept of transformational leadership in the

1970s. This concept has continuously been tested and refined over the years and is known as a

process that changes or alters people. The transformational leadership model is more than just an

exchange of productivity and resources (Fleming, 2009). A transformational leader provides

vision, and a sense of mission, instills pride, gains respect, and trust, inspires and communicates

high expectations, and leads by example, which will be of great help to XYZ Electronics.

Transformational leadership is based on more than follower compliance. It involves changes in

believers' beliefs, needs, and values. According to Burns, "The result of transformational

leadership is a relationship of mutual stimulation and uplifting that can turn followers into leaders

and leaders into moral agents" (Kuhnert & Lewis, 1987). Transformational leadership focuses on

the transformation of people to support each other and the Organisation as a whole. It encourages

teamwork and enhances motivation, job satisfaction, staff morale, and the performance of those

involved.

In the transformational style of leadership, the leaders of XYZ Electronics will now be

appreciative for the feelings, morals, standards, and goals of the followers which inspires them to

move beyond expectations and increases the follower’s desire to become leaders themselves. The

leader focuses on collective values and needs by placing high effort into reaching organisational

goals (Van Dierendonck, Stam, Boersma, de Windt, & Alkema, 2014).

An important research instrument that was frequently used by specialists to observe the

leaders’ style is the Multifactor Leadership Questionnaire (MLQ), created by Bass and Avolio

(1990). The authors reveal four competency areas that ensure the success of transformational

leadership: Idealized behavior (IB) – it develops trust and respect for leaders. Conger and
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Kunungo (1978), viewed IB as the most significant dimension of the transformational leadership

model. A leader which falls on this dimension usually acts as a strong role model for others, and

whom others try to emulate. Inspirational motivation (IM) – is the ability to stimulate employees

to outrun themselves. This type of leader inspires followers to secure their commitment (Fasola

et al., 2013; Northouse, 2012). Intellectual stimulation (IS) – leaders stimulate the employees to

ask questions and to solve old problems in new ways (Bacha &Walker, 2011; Mcknight, 2013).

A leader in this dimension encourages creativity. Individual consideration (IC) – refers to the

habit of listening to the needs and wishes of subordinates. Based on the qualities of this leadership

style, we recommend that XYZ Electronics adopt this approach for the success of the business.

Benefits of Transformational Leadership

Low Staff Turnover. Turnover refers to the rate at which employees leave a job and new

employees are hired for the same job. High turnover rates can lead to inconsistency within a

company, poor productivity, and a lost sense of unity within the company. According to Strain,

2017, reducing employee turnover can be a major benefit of transformational leadership. In her

article entitled “The advantages of reducing employee turnover,” she states that when

transformational leadership methods are employed, then employees will be more enthused to

perform their specific job. When employees, especially experienced employees leave the

company, there is an unavoidable disruption in productivity (Strain, 2017). Accordingly, many

studies have used turnover as a criterion to evaluate the effectiveness of various organisational

processes such as leadership (Barrick & Zimmerman, 2005 Meglino et al., 2000). Thus,

understanding the factors that influence turnover gives XYZ Electronics the opportunity to reduce

selection and training costs. Hom & Griffert, 1995, states that turnover has a rich theoretical

history in which multiple models have been advanced to understand this complex decision. These
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models are based on the premise that if an employee is unhappy with the job and finds another /

he or she is likely to leave the current job (Lee, et.al, 2004). Thus, the focus of most turnover

models is on job attitudes (Job Satisfaction or Job Commitment) as primary drivers of turnover.

Moreover, Barmon & Motwildo, 1993, says that the continuing prosperity of a firm is likely to

be enhanced by employees who hold attitudes, values, and expectations that are closely aligned

with the Vision of the Company.

Improved Productivity and Morale. Improved productivity and morale are benefits that

XYZ Electronics can gain from transformational leadership. When an employee leaves, pulling

other workers off their jobs may be necessary, or the need may arise to increase their hours to

cover the work of the departing employee. This increased workload may result in stress and

reduced workplace morale (Heron and Shah 2017). The uncertainty about who will replace the

departing employee and how the changes will affect them may also have a negative effect on the

remaining employees. If the departing employee is unhappy and complains to his or her peers,

this can have a negative effect on worker productivity. On the other hand, loyal, long-term

employees who have been impacted by a transformational leader will provide a certain amount

of stability to the workplace creating job satisfaction (Safdar, 2009).

Job Satisfaction can be defined also as the extent in which employees within XYZ

Electronics are comfortable with the rewards he or she gets out of his or her job, particularly in

terms of intrinsic motivation (Statt, 2004). Job satisfaction has been a widely researched topic and

is positively related to transformational leadership. Research studies have consistently revealed

that transformational leadership is positively related to work outcomes (Dumdum et al., 2002).

Job satisfaction is a critical component of organisational success. When employers take into

consideration the welfare of their employees and ensure that they are satisfied then this will ensure
36 | Page

the organisation remains successful and committed in its competitive industry. Motivation theory

of an organisation is the best way to satisfy the employees which results in better performance

and an outstanding yield which in turn leads to increased productivity in the organisation (Farsi

et al., n.d.).

Transformational leaders instill a sense of goal and vision in their followers through

inspirational motivation (Al-edenat, 2018). Employee expectations will be determined by this

shared mission and vision. Furthermore, intellectual stimulation aids productivity by pushing

individuals and instilling the necessary energy in them to complete tasks efficiently. Employees

are encouraged to rethink old challenges in order to produce new ideas and adopt a critical

thinking system as a result of this. Transformational leadership positively influences employee

performance with the mediating effect of organisational citizenship. Job satisfaction is increased

when leaders focus on the employees’ passions and enable them to explore themselves beyond

their present interests (Bass, 2008).

Human resources are an organisation’s greatest asset and as such management must pay

attention to its employees to ensure that their needs are met resulting in them becoming satisfied.

Job satisfaction alludes to employees being happy and fulfilled with their job (Misener et al.,

1996). Employee level of satisfaction surrounds different aspects of the job relating to their pay,

benefits, job security, working conditions, leadership, and organisational practices. Therefore,

implementing this leadership style will enhance change management and improve culture and

practices for the XYZ Team.

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Propose Strategies for Building a Cohesive Leadership Team That Shares a Common Vision

Building a strong and cohesive team is crucial for success in today's complex and change-

driven environment. However, a lack of cohesion can lead to misalignment, diminished trust,

conflict, decreased productivity, and increased turnover. Leaders must focus on developing

cohesiveness and trust within their teams, as it is built on a foundation of trust that changes and

develops as our connections do. Cohesion is often overlooked in leadership circles, but leaders

must make a concentrated effort to foster it and maintain a strong team that is greater than the

sum of its parts.

Cohesion in a team refers to the ability of a group or organization's members to work

together to achieve a shared goal. It involves understanding how everyone interacts and works

together to achieve common objectives. High-functioning teams are more than just a group of

people who occasionally collaborate on tasks in common. Cohesion increases as members' aims

and values are more closely aligned. Achieving and maintaining cohesion can be challenging, but

organizations can strengthen it with appropriate techniques. Techniques for increasing team

cohesion includes the following:

Effective communication: Effective communication is crucial for teamwork, as

inefficient communication can lead to group failure. Common communication issues include poor

listening, speaking, delegation, and adaptability. Improving these areas can enhance team

cohesiveness and success. Continuous feedback is essential for effective communication and

collaboration. XYZ Electronics Technologies leaders need to attend a communication or

leadership seminar to address the lack of clear and open communication among team members.

Basil's laissez-faire leadership approach allows team members to take ownership of tasks and
38 | Page

responsibilities, but it lacks clear roles and expectations, allowing managers to claim that projects

and strategies are not managed. (Cherry 2022).

Establish objectives and goals. Clear roles and responsibilities are crucial for defining

the team's success and ensuring everyone understands what success looks like. This allows for

performance assessment and helps the team identify necessary abilities with established goals,

ensuring everyone is aware of their role and responsibilities. XYZ Technologies will provide each

employee with a detailed job description outlining their roles, duties, and expectations, outlining

the chain of command and span of control. A job description should will include a description of

the role, functions, tasks, responsibilities, competencies, experience, and key performance

indicators. However, a person's role on a team is more than just a job description; it involves their

knowledge, expertise, experience, and capabilities. Responsibilities are based on the team's

mission, and responsible engagement involves offering guidance, strategic thinking, creative

ideas, and specific work related to the team's mission. Setting clear roles and responsibilities helps

leaders delegate work, ensuring everyone understands the team's mission and contributions. As

the strategic human resources business partner of XYZ Electronics Technology, our responsibility

is to establish a structure for the Human Resources Department, aligning the right team members

to achieve operational and strategic goals.

The use of frequent team meetings and gatherings. Regular team meetings foster unity,

collaboration, and emotional exchange among team members. They allow for discussions on

current issues and emotions, sharing best practices, and promoting teamwork. These sessions are

crucial for promoting unity, cohesiveness, and effective problem-solving within the team. Regular

team meetings foster alignment, ensuring alignment between team members and their roles in the

mission. They help understand the team's objectives, goals, and responsibilities, as well as
39 | Page

individual employees' roles. High-performing teams are happy, comfortable, trusting, and

understanding and foster genuine connections between colleagues, whether in person or virtually.

This approach is particularly beneficial for high-performing teams. Team meetings enhance

communication by promoting information sharing, avoiding translation issues, and creating open

channels for major announcements like staff restructuring, allowing for questions and comments.

As a team leader, it's crucial to encourage employee feedback for future success. Utilize meeting

time efficiently, open the floor for comments and problem-solving, and use team meetings to

share feedback on past or current projects. XYZ Electronic Technology is implementing weekly

structured meetings for management at all levels to gather information for effective strategy

conceptualization. These meetings will be held on Mondays to discuss key performance indicators

and strategic goals, and on Wednesdays to communicate the strategies and decisions of the

executive management team. A staff meeting will be held quarterly to communicate the

company's plans and goals, as well as receive feedback for future strategic meetings.

Employee development through frequent training sessions. Training can enhance

individual team members' talents, making them feel important and benefiting the team as a whole.

A good team has confident individuals who can achieve goals. XYZ Electronics will conduct a

training needs analysis to identify organizational gaps, assess employee competency, and provide

necessary coaching, ensuring effective and efficient employee training. Through the use of the

needs analysis, a plan will be developed. Investing in employee training and development is

crucial for a business's long-term success. According to LinkedIn's 2019 Workforce Learning

Report, 94% of employees stay longer with an organization if career development is supported.

Training programs increase sales, profitability, employee engagement, and financial success. In
40 | Page

today's competitive environment, continuous improvement through training is essential for an

organization's success. (Chepalla 2023).

Building Trust. Building trust among team members is crucial for effective collaboration.

Transparency, starting with the leader, is key to fostering trust, as secrets can hinder teamwork

and create a sense of openness. XYZ Technologies will be implementing an employee rewards

and recognition program. The following tenets are principles that XYZ Technologies will be

implementing to build trust among the team members:

a. Recognizing and rewarding excellence: Recognize and reward excellence by

providing tangible, personal, and public recognition to workers after achieving goals, celebrating

both micro and obvious achievements, and inspiring others to strive harder.

b. Establishing Motivating Goals: Set SMART goals to boost focus and collaboration

among workers, ensuring they are specific, measurable, achievable, realistic, and time-bound,

with a deadline included for review.

c. Allow employees to decide their process for job completion: To ensure success,

provide employees with the necessary tools, resources, and learning opportunities, with clear

direction on goals. Inquire with employees about their work preferences to understand their

strengths and demonstrate trust. Allowing autonomy drives innovation and intrinsic motivation,

as different approaches drive different approaches.

Building teamwork. Teamwork involves employees working closely together, with tasks

divided among members. Building a positive team culture and ensuring clear goals, leadership,

and strategic plans is crucial for successful teamwork.

Finally, XYZ Technologies plans to develop its human resources department to create a

strong leadership team through the hiring of a strategic HR business partner. The department will
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focus on employee engagement, recruitment, training, and development, ensuring clear vision

and excellent communication. The HR department will develop strategies to meet company HR

goals and collaborate with HR managers to implement policies within their departments. The HR

department's role is to ensure long-term goals are met, including developing strategic HR policies,

analyzing current policies, facilitating collaboration, planning strategic HR initiatives, and

meeting all colleagues, including executive management, to create a plan for executive meetings.

XYZ Technologies will focus on improving team cohesion for maximum productivity.

Their success relies on individual team success. A cohesive leadership style, inspiring vision,

clear action plans, and clear communication are essential. Empathy, support, and personal

investments in team members lead to success, while skill-sharing opportunities strengthen the

team. XYZ Technologies is committed to fostering interpersonal development through effective

human resources strategies, recognizing trust as the foundation of a successful leadership team.
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Change Management
The first strategy to overcome resistance to change is effective communication. According

to (Harvard Business 2023 review) change Management is a leadership competency for enabling

change within an organisation. It is also a strategic capability designed to increase change capacity

and responsiveness.

One of the most important tasks for leaders of XYZ Electronics is to facilitate change

smoothly in order to capitalize on the new strategies outlined above for business success. Change

is always inevitable but so is resistance. It is basic human nature for people to try and keep their

methods and customs constant. This is where change management comes into play for XYZ as

this organisation must adapt to be successful.

Whilst change will almost always face resistance, it is certainly possible to overcome it.

The leaders of XYZ must now strive to help the employees adjust and facilitate new variations in

functioning, leaders will now be able to convince workers that the new strategies being proposed

for XYZ are necessary and how they will benefit from them.

This will not happen in one go because it is easier to implement them in stages, if the

leaders portray leadership by first adapting to the changes themselves employees are least likely
43 | Page

to resist. Sufficient and prior training of employees can help the team of XYZ Electronics to

accept the proposed changes with confidence.

Participation is always a good idea as the XYZ leadership team plans for the future, all

employees will be impacted they must have a say in the planning process which can be done via

surveys, small informal meetings or conferences where the leaders will explain the relevance and

such participation will make them less likely to resist implementation. Creating hope for the staff

of XYZ Electronics which all employees will create an opportunity for a better future. Leaders

will create the desire to change by sharing passion for success. For some people seeing is

believing and therefore leaders will get the buy-in, by inviting guests to give testimonials and

demonstrate the success of pilot Programs. “Culture eats strategy for breakfast, operational

excellence for lunch and everything else for dinner”- (Peter Ducker, 2023).
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Implementation and Monitoring of Product Development (Portfolio Diversification)

Strategy, Differentiation Strategy, Cost Leadership Strategy, Product Innovation Strategy
and Market Expansion Strategy
Business Strategy Implementation involves bringing the strategic goals and objectives of

organisation into specific actions and initiatives that can be executed by management. Careful

planning and execution are required to implement the highlighted strategy areas of Product

Development (Portfolio Diversification) Strategy, Differentiation Strategy, and Product

Innovation Strategy.

Each of the above aforementioned strategies aims to improve a company's competitive

advantages and profitability in the electronics market. Below is a detailed action plan for

implementing these strategies, along with Key Performance Indicators (KPIs) to measure the

success:

1. Product Development (Portfolio Diversification) Strategy Action Plan:

Seven (7) key actions that management will need carryout to ensure that Product Development is

implemented are:

i. Conducting a thorough Market Analysis to identify the gaps and opportunities for

product diversification, this can be done using the Growth Wheel Business Model where one of

the four (4) models – The Business Concept - focuses on a sub model - Business Idea and how

the product can be further developed. It would also allow the evaluation of customer needs and

preference and assess competitors' product portfolios (GrwothWheel 2023).

ii. Define Target Markets by segmenting the market based on demographics,

psychographics, and geographic factors would work for XYZ Electronics mainly because the

organisation would have already acquired a customer-based portfolio. This would allow XYZ
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Electronics to identify the most promising target segments for diversification and to know the

market that would be penetrated.

iii. Product Design is investing in resources for research and development might seem costly

and time consuming but the development of new products or modify existing ones to cater to the

identified market segments can generate immense sales revenue. A great example is the

modification that Apple Inc executed in 2018. Apple realized that they were behind in their model

updates and design, so instead of releasing the iPhone 9 which would follow the iPhone 8 and 8

Plus from the previous year 2017, the company opted to release the iPhone 10 which the models

were referred to as iPhone X, XR, XS and XS-Max. The X Series saw the company going for a

sleeker look by moving from the touch button to a full touch screen. These modifications

increased the number of units sold from 216.76 million in 2017 to 217.72 million in 2018. This

has given Apple a steady increase in sales compared to 2015 and 2016 where units sold were

231.22 million and 211.88 million where there was a decrease. While the difference between the

units sold between 2018 and 2017 is 0.96 million that amounted to USD$25,551,000.00 (Global

Data 2022). With the new modifications Apple was able to increase the price of the iPhone to

generate this value in sales.

iv. Testing and Validation the new offering of products, XYZ Electronic would need to

carry out product testing. Conducting product testing, quality control, and validation is highly

important because you want to ensure that your product is safe and is of the best quality for public

consumption. Product testing can be done using small focus groups over a specified period,

gathering feedback from focus groups and early adopters to allow the company to make

adjustments to their products and product line.

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v. Marketing and Sales is where XYZ Electronics Marketing Team should develop a

marketing strategy tailored to the new products. These include but are not limited to sales

promotions, advertising, backward and forward integration such as partnering with schools and

to provide devices for eBooks and other interactive learning. Partnership could also be developed

with businesses to provide the technology required one such business could be the restaurant

Macau Gaming Lounge & Bar. This restaurant uses tablets to take customer’s orders, stemming

away from the regular pen and paper waiters and waitresses would use. This allowed them to

make the ordering process easier. XYZ Electronics securing a partnership like this can become

their number one supplier and also manage their repairs. Train the sales team on the new offerings.

Both new and old employees should be trained on the new product offerings, promotions and

customer service.

vi. Launch and Distribution the new products in a phased manner, first step is to launch in

store. XYZ Electronics would set a launch date to promote their new products with exhibition,

sale deals, promotions and having external advertising agencies such as radio station Zip103FM.

Deals could include buying one of the new electronics and getting 30% to 50% off on one of the

older models. This would also help to get rid of products before they go obsolete. The second step

is to establish distribution channels and partnerships including exportation.

vii. Monitor and Optimize continuously, monitor sales, customer feedback, and market

dynamics. Make necessary adjustments to the product portfolio. Ensure that these changes are

documented to help with future research and product development. If the changes are feasible,

they can be done in short order.

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Key Performance Indicators for Product Development (Portfolio Diversification) Strategy

Success:

a. Revenue Growth: This will be a key indicator of XYZ's financial health and success. It

will measure the increase in total revenue (sales or income) over a specified period and will be

compared year-over-year. Growing revenue is essential for a company's long-term sustainability

and profitability.

b. Market Share: XYZ Electronics recognizes the significance of market share as a key

metric when evaluating its business performance. Market share is indeed a critical indicator for

understanding a company's position within its industry and the competitive landscape. However,

it's wise that XYZ Electronics acknowledges that market share alone is not the only metric to

consider. XYZ Electronics will strive for a more strategic approach that will maximize market

share while also ensuring a healthy bottom line. This approach will help the business to achieve

a sustainable and competitive position in the industry.

c. Customer Acquisition: This is the process of attracting and converting new customers or

clients to the business. It is a fundamental aspect of any company's growth strategy, as without a

steady influx of new customers, a business can stagnate or decline. XYZ Electronics will monitor

the number of new customers acquired as a result of diversification. The following are a few steps

and strategies that can be used to effectively acquire new customers:

d. Define Target Audience: XYZ Electronics will first begin by understanding who their

ideal customers are, what are their demographics, interests, pain points, and behaviors. Creating

buyer personas can help with this.

e. Market Research: XYZ Electronics will conduct a thorough market research to identify

where their target audience spends their time, both online and offline.
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f. Online Presence: XYZ Electronics will establish a well-designed website, active social

media profiles, and possibly an e-commerce platform to maintain a strong online presence.

g. Customer Satisfaction: This critically measures how well a company's products,

services, and overall customer experience meet or exceed customer expectations. High levels of

customer satisfaction are associated with customer loyalty, repeat business, positive word-of-

mouth recommendations, and long-term success. XYZ Electronics will gather customer feedback

to measure their overall satisfaction scores related to the new products. This will be an ongoing

process that requires regular assessment, adjustment, and commitment to improvement. High

levels of customer satisfaction can lead to increased customer retention, brand loyalty, and

positive brand advocacy, all of which contribute to a healthy and successful business.

h. Return on Investment (ROI): It is expected that XYZ Electronics will get Return on

Investment after the restructuring of the business. Return on Investment (ROI) is a financial

metric used to evaluate the profitability or performance of an investment or business endeavor. It

measures the return (or profit) generated as a percentage of the initial investment or cost. ROI is

a crucial tool for assessing the efficiency and effectiveness of various financial decisions. XYZ

Electronics will calculate the ROI for the resources allocated to product diversification.
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2. Differentiation Strategy Action Plan:

Establishing your brand and your company above your competitors is very important in

being the best in your market. XYZ Electronics should focus on:

i. Conduct a thorough Competitive Analysis of competitors' products and marketing

strategies by identifying areas where the company can differentiate itself. The now obsolete

device named Blackberry had a unique feature called Blackberry Messenger. Once Apple Inc

released the first iPhone in June 2007, Blackberry did not update their device to match or

supersede their competitors until November 2008. By this time Apple had captivated the market

with even using a simpler feature to the Blackberry called iMessage (Seth 2023).

ii. Define a clear and Unique Value Proposition that sets the company apart from

competitors. Apple perfected this area with “The Experience IS the Product '' the UPV is exactly

how it feels to use an iPhone, iPad or Macbook.

iii. Product Enhancement is to improve the quality, features, and design of existing products

to align with the value proposition. BlackBerry's stock price peaked at an all-time high of $147

million in mid-2008. A year earlier, Apple, Inc. introduced its iPhone—the first prominent

touchscreen phone. BlackBerry ignored it initially, perceiving it to be an enhanced mobile phone

with playful features targeted at younger consumers. However, the iPhone was a huge hit, and

this was the start of BlackBerry’s demise (Seth 2023).

iv. Branding and Marketing is needed to develop a branding strategy that communicates

the differentiation. In the partnership suggested earlier with restaurants like Macau Gaming

Lounge & Bar, XYZ Electronics could use that same avenue to have their brand (Logo) on the

restaurant’s menu. This would reach hundreds, even thousands of customers when they are

reviewing the menu and noticed “Powered by XYZ Electronics.” Create marketing campaigns
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that highlight the unique aspects of the company's offering. The uniqueness of Apple’s logo

allows them to differentiate themselves from their competitors.

v. Employee Training - train employees to deliver a consistent message and provide

exceptional customer service. Training includes IT training, sales training, soft skills training and

other competences training that would be relevant to the business. Your employees are your best

sellers and as such emphasis should be placed on theory development. “It has been said that the

most important assets of any business walk out the door at the end of each day. Indeed, people

and the management of people are increasingly seen as key elements of competitive advantage”

(Boxall & Purcell, 2003; Pfeffer, 1998; Gratton, Hailey & Truss, 2000).

vi. Continuous Improvement - regularly assess the effectiveness of the differentiation

strategies, monitor and make adjustments as needed.

Key Performance Indicators for Differentiation Strategy Success:

a. Brand Recognition: Brand recognition is critical in using the differentiation strategy. It

measures the increase in brand recognition and awareness and represents the extent to which a

target audience can recognize or identify a particular brand. This measures how well consumers

are familiar with and can identify a brand by its name, logo, tagline, or other distinctive elements.

At XYZ Electronics the vision is to create brand awareness and in doing so, our ultimate goal is

to make our brand instantly recognizable to our target audience, which can result in increased

market share, higher sales, and a gaining a competitive edge.

b. Customer Loyalty: This will allow us to track customer retention rates and repeat

purchase behaviour. Customer loyalty is a crucial element of a successful and sustainable

business. XYZ Electronics is dedicated to creating long-term commitment and allegiance with its
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customers. Loyal customers repeatedly choose a specific brand or company over its competitors,

often despite other options. Building and maintaining customer loyalty is essential for XYZ’s

growth and profitability. Aligning customer loyalty with the company's vision is crucial for the

overall success of XYZ Electronics. This alignment can also enhance the company's brand image

and reputation. When customers and partners see that XYZ Electronics is not only focused on

growth but also on its customers, it can build trust and loyalty.

c. Market Position: This assesses the company's position relative to its competitors. Market

position is not static and can change over time due to shifts in consumer preferences, technological

advancements, or competitive forces. To maintain a strong market position, XYZ must be agile,

responsive, and customer-centric, as well as able to differentiate itself effectively from

competitors. It is essential to align their market position with the overall business strategy and

goals to achieve long-term success.

d. Sales Growth: This will monitor sales growth attributable to differentiation efforts. This

is a key performance metric that measures the increase in a company's revenue over a specified

period, typically compared year-over-year.

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3. Cost Leadership Strategy Action Plan:

Implementing a Cost Leadership Strategy can significantly impact the competitiveness of

XYZ Electronics within the market. Following the prescribe tactics can prove successful:

i. Conduct a Cost Analysis - understanding the current cost structure is crucial to identify

areas where costs can be reduced without compromising quality. According to Dheeraj Vaidya

2023 the steps to create a meaningful Cost-Benefit Analysis model are:

• Define the framework for the analysis.

• Identity and classify costs and benefits.

• Drawing a timeline for expected costs and revenue.

• Monetize costs and benefits.

• Discount costs and benefits to obtain present values.

• Calculate net present values.

ii. Optimizing Streamline Operations can reduce waste and increase efficiency, leading to

cost savings. XYZ Electronics can identify and implement process mapping, analyze the current

workflow and simplify the work processes, identify the areas that should be automated,

documentation of everything, automate workflows, test the new workflow, refine the workflow

over time & optimize where needed.

iii. Negotiate with Suppliers for better terms with suppliers can lead to reduced procurement

costs. Terms may include bulk purchases to reduce cost, alternative routes for cheaper delivery,

longer contract agreements and multiple suppliers.

iv. Invest in Technology that the line of business that XYZ Electronics is in, implementing

technology can automate processes, reduce human errors, and improve productivity, leading to

cost savings in the long run.

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v. Well Trained and Engaged Employees can contribute to higher productivity and quality,

leading to cost savings and improved customer satisfaction. Quarterly training and certification

programme for employees will be implemented. Providing competitive compensation packages

and staff performance incentives will keep staff gainly engaged.

vi. Continuous Cost Monitoring - regular monitoring helps in identifying any cost

deviations and taking corrective actions promptly.

Key Performance Indicators for Cost Leadership Strategy Success:

a. Cost per unit, Cost of Goods Sold (COGS) and COGS as a Percentage of Revenue:

Cost per unit and Cost of Goods Sold (COGS) as a percentage of revenue are important financial

metrics that XYZ Electronics can use to assess their profitability and cost efficiency.

Cost per Unit: Cost per unit is a measure of how much it costs a company to produce or

acquire one unit of a product. This can vary greatly depending on the nature of the business. To

calculate cost per unit, you need to sum up all the costs associated with producing or acquiring a

specific quantity of units (e.g., manufacturing costs, raw materials, labor, and overhead costs),

and then divide that total cost by the number of units produced or acquired. The formula is: Cost

per Unit = Total Cost / Number of Units

Cost of Goods Sold (COGS): COGS is a specific category of expenses on a company's

income statement. It represents the direct costs associated with producing or purchasing the goods

that a company sells during a specific period. COGS includes costs such as raw materials, direct

labor, and manufacturing overhead. It does not include indirect costs like marketing or

administrative expenses. COGS is calculated using the following formula: COGS = Opening
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Inventory + Purchases (or manufacturing costs) - Closing Inventory Alternatively, COGS can be

calculated by summing up the costs of all units sold during a specific period.

COGS as a Percentage of Revenue: This metric, also known as the COGS ratio, is used

to assess the cost efficiency of a business. It indicates the proportion of a company's revenue that

is consumed by the cost of goods sold. The formula to calculate COGS as a percentage of revenue

is: COGS as a Percentage of Revenue = (COGS / Total Revenue) x 100. A lower COGS as a

percentage of revenue indicates a higher profit margin because it means the company is spending

a smaller portion of its revenue on production costs. Monitoring and managing these metrics are

crucial for XYZ Electronics to control costs and optimize their profitability. It can also help

identify areas where cost reductions or operational improvements are needed.

b. Production efficiency and Inventory Turnover Rate. XYZ Electronics can use

production efficiency and inventory turnover rate as these are important metrics to assess the

operational performance and financial health of the business.

Production Efficiency: Production efficiency measures how effectively a company utilizes

its resources and production processes to manufacture goods or provide services. It evaluates the

ability of a business to minimize waste, optimize production processes, and maintain high output

with minimal inputs. There are several ways to measure production efficiency, such as:

● Overall Equipment Effectiveness (OEE): OEE measures the effectiveness of

manufacturing equipment in terms of availability, performance, and quality.

● Labor Productivity: This metric assesses the efficiency of labor resources in the

production process.

● Downtime Reduction: Measuring and reducing the downtime of machines and

equipment can enhance production efficiency.

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● Waste Reduction: Reducing material and energy waste in the production process can

improve efficiency.

Inventory Turnover Rate: Inventory turnover rate, also known as inventory turnover ratio,

measures how quickly a company's inventory is sold and replaced over a specific period. It reflects

the effectiveness of inventory management and supply chain operations. The formula to calculate

inventory turnover rate is Inventory Turnover Rate = Cost of Goods Sold (COGS) / Average

Inventory Value. A high inventory turnover rate indicates that a company efficiently sells its

inventory and minimizes excess stock, which can be a sign of effective inventory management.

Conversely, a low turnover rate may suggest overstocking or difficulties in selling products.

Both production efficiency and inventory turnover rate are crucial in maintaining a lean and

profitable operation at XYZ Electronics. They are closely linked because improved production

efficiency can lead to better inventory turnover rates by reducing production delays and

minimizing the holding costs of excess inventory. XYZ will use these metrics as they can provide

insights into the efficiency of the business operations, cost management, and overall financial

health.

c. Supplier cost savings, Cost savings percentage from negotiations. Supplier cost

savings and cost savings percentage from negotiations are important metrics XYZ Electronics

will use to evaluate the effectiveness of procurement and supplier management strategies.

Supplier Cost Savings: Supplier cost savings refer to the financial benefits realized by

an organisation through its interactions with suppliers. These savings can result from various

activities, such as negotiation, strategic sourcing, process optimization, and supply chain

management. The goal is to obtain goods and services at lower costs than previously paid or

budgeted, thereby reducing the overall cost of operations. Supplier cost savings may be measured
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in terms of actual monetary savings achieved through supplier negotiations or other procurement

activities.

Cost Savings Percentage from Negotiations: Cost savings percentage from negotiations

is a specific metric that measures the portion of cost savings achieved through negotiation

activities compared to the total procurement spend. It is typically expressed as a percentage and

calculated using the following formula: Cost Savings Percentage = (Cost Savings from

Negotiations / Total Procurement Spend) x 100. This percentage helps procurement

professionals and organisations understand the impact of negotiation efforts on their cost-saving

goals. A higher percentage indicates that a significant portion of cost savings is attributed to

successful negotiation outcomes.

Both metrics are crucial for assessing XYZ’s performance of procurement teams and the

effectiveness of supplier management strategies. They can also be used to set targets and track

progress over time, helping XYZ to identify areas for improvement and cost reduction

opportunities.

d. Return on Investment (ROI) from Technology Implementation, Reduction in

Labour Costs. Return on Investment (ROI) from technology implementation and reduction in

labor costs are essential metrics for evaluating the financial impact of adopting new technologies

in XYZ Electronics.

Return on Investment (ROI) from Technology Implementation: ROI is a financial

metric that measures the profitability or return on an investment. When it comes to technology

implementation, ROI assesses the financial gains or losses resulting from investing in and

deploying new technology solutions. The formula to calculate ROI is ROI = (Net Gain from

Investment - Cost of Investment) / Cost of Investment. A positive ROI indicates that the
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technology investment generated more financial benefits than the cost incurred. A negative ROI

suggests that the investment did not yield a sufficient return.

Reduction in Labor Costs: Reduction in labor costs is a measure of the amount of money

a business saves by decreasing its expenditure on labor. This reduction can result from various

factors, including automation, process optimization, and improved workforce productivity. The

formula to calculate the reduction in labor costs is: Reduction in Labor Costs = Previous Labor

Costs - Current Labor Costs. A higher reduction in labor costs indicates more substantial savings

in this area.

The relationship between ROI from technology implementation and reduction in labor

costs is often closely connected. Implementing technology, such as automation or software

systems, can lead to a reduction in labor costs by improving efficiency, reducing the need for

manual labor, and minimizing human errors. As a result, the ROI from technology can include

cost savings in labor as one of its components.

XYZ believes that these metrics are critical for assessing the effectiveness of technology

investments and their impact on a business's bottom line. Successful technology implementations

should ideally demonstrate a positive ROI, along with meaningful reductions in labor costs,

demonstrating that the investment not only paid off but also contributed to cost optimization and

increased efficiency.

e. Employee Productivity, Employee Satisfaction and Retention Rates. Human

resources are an organisation's greatest asset. Employee productivity, employee satisfaction, and

retention rates are key factors in the success and growth of any Organisation. These three elements

are interconnected and often influence each other.

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Employee Productivity refers to how efficiently and effectively employees carry out

their job responsibilities. It's a measure of the output or results achieved relative to the resources

and time expended. Factors that can impact employee productivity include workload, time

management, skills and training, access to necessary tools and resources, and workplace culture.

Increasing productivity often involves setting clear expectations, providing the necessary training

and support, and creating an environment that minimizes distractions.

Employee Satisfaction reflects how content or fulfilled employees are with their jobs

and work environment. High job satisfaction can lead to better morale, improved motivation,

and increased loyalty to the organisation. Factors influencing employee satisfaction include

work-life balance, compensation and benefits, career growth opportunities, supportive

management, work relationships, and a healthy work environment.

Retention Rates refer to how long employees stay with a company. High retention rates

indicate that employees are satisfied and committed to their organisation. High turnover can be

costly in terms of recruitment and training expenses, and it can disrupt workflow. Retention can

be influenced by many factors, such as job satisfaction, professional development opportunities,

competitive compensation, a positive workplace culture, and effective leadership.

The interplay between these factors is crucial. For example, a highly productive but

unhappy workforce may not be sustainable in the long term, as they may leave for better

opportunities. On the other hand, a satisfied and engaged workforce tends to be more productive

and is more likely to stay with the organisation.

Strategies to improve this aspect includes fostering open and transparent Communication to

understand employee needs and concerns. Act on feedback to improve job satisfaction. Invest in

employee Training and Development to enhance skills and job performance, which can increase
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productivity and job satisfaction. Recognizing and Reward employees for their hard work and

achievements. This can boost job satisfaction and retention. Work-Life Balance that encourages

a healthy work-life balance to prevent burnout and improve employee satisfaction. Ensure that

Compensation and Benefits are competitive with the industry standards to retain talented

employees. Career Growth Opportunities: Provide pathways for career advancement and

personal development to motivate employees to stay and grow within the organisation.

It is essential for XYZ Electronics to balance these three factors to create a positive work

environment that promotes both employee satisfaction and productivity while minimizing

turnover. This, in turn, can contribute to the long-term success and sustainability of the

organisation.
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4. Product Innovation Strategy Action Plan:

“There is no such thing as a new idea. It is impossible…” – Mark Twain. When you look

at the market around the world you will see that most, if not all ideas have been implemented

before. A perfect example is the iMessage feature that is “unique” to the iPhone which was once

the “unique” feature on the Blackberry Messenger. Even though that is the case it’s about how

we can implement it and market it to the uniqueness of our brand:

i. Ideation and Creativity foster a culture of innovation within the organisation. Encourage

employees to generate innovative product ideas. This will allow employees to feel engaged and

will allow management to improve the product and services of XYZ Electronics.

ii. Allocate resources for Research and Development of product innovation. Develop a

structured process for idea evaluation and selection. Keep employees and focus groups involved

in the process of development and marketing the changes to ensure that XYZ Electronic maintains

a competitive advantage.

iii. Prototyping and Testing - build product prototypes and conduct rigorous testing. Gather

feedback from internal and external stakeholders. Take these feedbacks and continue to develop

the product. Make a particular model the face of the campaign when marketing these prototypes.

iv. Intellectual Property Protection - protect intellectual property through patents,

copyrights, or trademarks with The Jamaica Intellectual Property Office (JIPO). XYZ Electronics

software and products should be protected at all costs.

v. Market Entry Strategy - develop a strategy for bringing innovative products to market.

Consider partnerships, licensing, or direct sales. (Full market penetration implementation to

follow).
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vi. Scalability and Sustainability - ensure that the innovation is scalable and sustainable

over the long term with export being the ultimate goal.

Key Performance Indicators for Product Innovation Strategy Success:

a. Number of Innovations: The specific key performance indicators and metrics XYZ

Electronics chooses will depend on the organization's goals, industry, and the nature of the

product innovation strategy. By monitoring these factors, XYZ Electronics will gain insights into

the effectiveness and progress of the product innovation efforts.

b. Time to Market: Time to market is a critical metric used to measure how long it will take

to develop and introduce an innovation to the market. It refers to the amount of time it takes for

a new product or feature to go from the initial concept or idea to being available to customers in

the market. Shortening the time to market is often a key objective for companies seeking to stay

competitive and innovative. XYZ Electronics will use this metric to stay competitive by quickly

delivering innovative products to meet customer needs.

c. Customer Feedback: Gathering customer feedback will be a crucial part of the product

development and innovation process for XYZ Electronics, regarding the value of innovations. To

effectively collect and utilize customer feedback to assess the value of their innovations, various

methods will be utilized to collect customer feedback. Some of which include surveys, focus

groups, social media monitoring and feedback forms.

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5. Market Penetration Strategy Action Plan:

Marketing penetration is very important for the success of XYZ Electronics. Positioning the

company in the most ideal area of the market not only will give the company a competitive

advantage but will also ensure that they generate a profit, by conducting the following:

i. Market Research and Analysis speaks to understanding customer needs, preferences,

and market trends and is vital for developing effective penetration strategies. One of the reasons

why Blackberry failed was because they were unable to keep up with market trends and took too

long to respond to their competitors i.e., Apple Inc. (Seth 2023).

ii. Product or Service Enhancement is improving products or services based on customer

feedback that can help in gaining a competitive edge and attracting new customers. Customers

will help stratify when the product and services meet their technological needs and are more than

likely to recommend XYZ Electronics to their friends and family.

iii. Pricing Strategy Review is adjusting pricing strategies that can attract more customers

and increase market share. Ensuring your product’s prices match or beat competitor’s prices to

secure your customer base.

iv. Marketing and Advertising Campaigns refers to strategic marketing campaigns that can

create brand awareness and attract new customers, leading to increased market penetration.

Placing Ads to continuously expose the products and services to customers, these include digital

billboarding using Print Big Ltd., television commercials, radio commercials and social media

campaigns.

v. Distribution Channel Expansion is expanding distribution channels can help reach new

customer segments and increase market presence. Partnering with the Universities to provide

eBooks, computers and other electronics can allow XYZ Electronics to secure a massive market.
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vi. Customer Relationship Management (CRM) is important in building strong

relationships with customers that can lead to customer loyalty, repeat purchases, and positive

word-of-mouth, contributing to market penetration. XYZ Electronics can use systems such as

QuickBooks to help store customer’s data, this will help the company to send promotions to your

loyal customers.

Key Performance Indicators for Market Penetration Strategy Success:

a. Product/Service Adoption Rate: Product adoption rate refers to the speed or percentage

at which customers or users adopt and start using a new product or service. It is a measure of how

quickly and widely a product is embraced by its target audience after its introduction into the

market. This metric serves as the yardstick for evaluating the appeal of XYZ Electronics' product

to new signups. By calculating the product adoption rate, the company can readily assess the

number of new sign-ups that have embraced the product and are actively engaged with it. A high

product adoption rate indicates that the product is resonating well with the target audience and

gaining traction. On the other hand, a low adoption rate may suggest that the product is facing

challenges in attracting customers or encountering barriers to adoption. The formula used to

calculate this is: (New Engaged Users / Total Signups) * 100. Additionally, another sub-metric

that is beneficial is the internal adoption rate. This is used to calculate the adoption of a new

feature. This involves calculating how many of XYZ’s existing users are utilizing new features.

The formula for this is: (Number of New Users of a Feature / Total Number of Users) * 100.

Customer satisfaction scores: This is a widespread approach to assessing how

effectively a company meets, and possibly surpasses, customer expectations. It serves as a

fundamental key performance indicator for evaluating the quality of customer service and

products. The ultimate objective is to identify the elements influencing customer satisfaction and
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to detect areas that require enhancement. XYZ Electronics will use this metric to evaluate and

monitor the contentment of their customers regarding their service, product, or overall experience.

Customers who are highly satisfied are inclined to share their experiences with friends and family

and actively endorse the brand. Moreover, customers who establish a positive emotional bond

with a brand tend to exhibit lower sensitivity to pricing compared to those who are less loyal.

b. Average Revenue Per User/Customer: This metric is used to measure the average

revenue generated per user or customer over a period. This will give XYZ Electronics a better

understanding of their company’s performance by giving them insight as to whether they are

attracting more profitable customers and the trends in customer cohorts and segments.

Pricing elasticity: This is an important KPI for XYZ Electronics Pricing Strategy. It

measures the responsiveness of demand for a product or service to changes in its price. This will

help XYZ Electronics determine the optimal price point for their products, the demand for their

products, and the impact of price changes on profits.

c. Conversion Rates: The ultimate goal of any marketing campaign is to increase sales.

Conversion rates are central to measuring the success of any marketing campaign as it measures

the effectiveness of the marketing team to convert leads into new customers. Each phase in the

customer's journey entails transforming their relationship from one form to another. For example,

an online ad aims to convert a virtual passer-by into a website visitor. XYZ Electronics will

monitor their conversion rates at various stages of the marketing and sales process which will

enable them to pinpoint particular areas of concern, discerning what is effective and what is not.

This will allow for ongoing refinement of the marketing strategy.

Customer Engagement Metrics: This metrics gauges the connection between marketing

tactics and customer responses. For XYZ Electronics to stand out, it's crucial to maintain the
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highest possible level of customer engagement. The stronger these connections, the larger their

customer base will become. To ensure repeat business, it's imperative to earn their trust, assure

their contentment, and instill confidence in the company’s products. A few of these metrics

include – The Net Promoter Score (NPS), this is used to measure XYZ Electronics customers’

trust in your products/services and their consequent willingness to recommend them to others.

This enables the company to check customer loyalty according to the products/services. Inversely,

the amount of effort they have put into your customer service is measured here.

The Customer Acquisition Cost (CAC): Customer acquisition cost reflects the overall

measure of customer satisfaction. This metric holds significance in marketing and sales, with the

CAC being a crucial point of interest for both company and their investors. This is calculated by:

Costs Devoted to Acquiring New Customer / Numbers of New Customers. Based on the results

of XYZ Electronics CAC, If the expenses seem too high, it’s indicative that it is time to change

their marketing strategy and modify the company’s views on customer satisfaction.

d. Distribution Channel growth rate and Geographical Penetration: Distribution

channels play a crucial role in determining the success and growth of a market. One of the key

strategies for XYZ Electronics is to expand their market size by leveraging distribution channels

effectively. By optimizing more channels, they will reach a wider audience, increase their

customer base, and ultimately boost revenue. Additionally, making products available in more

locations will raise consumer awareness of their offerings and expand the brand. XYZ Electronics

will assess the total revenue at each point in the channel as this will be a good indication of which

partners are strong assets and which should be providing more productivity. Also, tracking

inventory and regional sales is also essential. The company will use this information to help

determine which areas product distribution should be directed towards.

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e. Customer Retention Rate, Customer Lifetime Value: Customer retention rate is a

metric that measures the percentage of existing customers who remain active after a given period,

typically calculated on a monthly, quarterly and annual basis. Your customer retention rate can

help you better understand what keeps customers returning to your company, (Salesforce, 2023).

A high customer retention rate indicates that a company is effectively retaining their customers,

this is important to the long-term success of the company. Using this metric, XYZ Electronic will

be able to determine other needs and preferences that their customers may have. By doing so the

company will be able to explore their opportunities to cross-sell and upsell their products. The

more XYZ Electronics customers feel valued the longer they will remain loyal to the brand,

increasing their customer lifetime value metric. This metric represents the total expected revenue

from a single customer.

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Conclusion

In conclusion, developing a comprehensive strategic management analysis is paramount

for XYZ Electronics in achieving cutting edge technologies and the overall success of the

organisation. This allows a company in any industry to gain and maintain a competitive

advantage.

When developing the strategic management plan, it is important that the mission, vision,

and value statement are aligned to the strategic management process. This has several

implications on the company's business operations as one affects the other. It is also critical that

during the strategic management process of strategy formulation, strategy implementation, and

strategy evaluation, the Human Resource Practitioner considers its stakeholders, employees, and

customers as well as the business culture.

The business strategy of a company has proven that it is vital for an organization's

competitive advantage. Porter's Generic competitive strategies which include cost leadership,

differentiation, cost focus and differentiation focus are used by businesses for their objectives and

strategic plans. XYZ Electronics Group plans to utilize differentiation, cost leadership, market

penetration, product innovation, and development strategy to penetrate a broad mass market.

Moreover, the use of the SWOT analysis was very effective in evaluating the strategic challenges

and opportunities of XYZ Electronics. Since these are useful analytical tools, they will assist in

the development stages of a company's strategic plan with the help of the SHRM’s guide to make

a valuable contribution in achieving sustainable goals in a time efficient manner.

This paper discusses the effectiveness of transformational leadership style in

organizations, emphasizing its critical role in business functioning and its impact on

organizations. XYZ Electronics is renowned for its innovation leadership and transformational
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leadership style, which involves idealized influence, inspirational motivation, intellectual

stimulation, and individualized consideration. Research shows that this style positively impacts

employee retention, self-efficacy, organizational commitment, and job satisfaction. Leaders

should establish a productive and communicative organizational culture by developing strategies

for high performance and resolving employee grievances, ensuring high performance and

productivity.

Finally, the demanding challenge of digital transformation was referenced. It discussed

the implications it has on XYZ Electronics and gave an example of how it affected the company.

Nonetheless, workable solutions were identified for such challenges and it is for this reason why

the HR Practitioner is important, to develop ideas to address these challenges.

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Group Reflection
Writing a project can be a rigorous and transformative journey, leading to profound

personal and intellectual growth. As we (Group 5) reflect on the process, we recognize the

multitude of valuable lessons and insights that have emerged along the way.

One of the most significant lessons we have learned is the importance of meticulous

planning and organization. Initially, we might have underestimated the significance of a

comprehensive outline, assuming that our ideas would effortlessly flow onto the page. However,

we quickly realized that without a clear roadmap, our thoughts became muddled, and the

coherence of the project suffered. As a result, we have learned to appreciate the necessity of

dedicating substantial time to outlining and structuring the work before delving into the actual

writing process.

Furthermore, we have come to understand the significance of thorough research.

Conducting in-depth investigations into the case study not only enriched the content of our project

but also provided the team with a nuanced understanding of the topic. We learned to navigate

various sources, critically assess their credibility, and synthesize diverse perspectives to create a

comprehensive and well-informed narrative.

Moreover, the project writing process has taught us the value of resilience and

perseverance. There were moments when we encountered writer's block or felt overwhelmed by

the complexity of the material. However, we learned to persist through these challenges,

discovering that pushing through and bouncing ideas off each other in moments of difficulty often

led to breakthroughs and a deeper understanding of our own capabilities.

Additionally, we have developed a greater appreciation for the power of effective

communication. We had some challenges in not hearing from member in the initial stages of the
75 | Page

group formalisation, that quickly changed when the time mattered most., with the exception of

one member who withdrew from the programme and did not inform our group.

Furthermore, the collaborative aspects of the project, such as seeking feedback and

engaging in constructive dialogue with peers and mentors, have taught us the importance of

embracing diverse perspectives and incorporating valuable insights from others. This has not only

enhanced the quality of our work but has also fostered a sense of collective growth and learning.

Ultimately, the case study writing experience has instilled in us a deep sense of

accomplishment and self-assurance. We have learnt that with dedication, discipline, and a

willingness to embrace challenges, we are capable of producing work that is not only

intellectually stimulating but also meaningful and impactful.

In retrospect, this journey has not only enhanced our writing skills but has also shaped our

approach to tackling complex tasks in all facets of life. It has reinforced the significance of

resilience, perseverance, and effective communication, underscoring the importance of continual

growth and self-improvement.

76 | Page

Appendices

Appendix A
Figure 1 Showing Porter’s Generic Strategies (Friesner, 2014).
77 | Page

Appendix B
XYZ Company SWOT Analysis
78 | Page

Appendix C
Resource Based-View Table

Appendix D
Cost-Benefit Analysis
79 | Page

Appendix E
360 Growth Wheel Model
80 | Page

Appendix F
VRIO Framework
81 | Page

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