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In this project you will select an organization or a segment of an organization, and interview key employees in order to gather information concerning the organization’s
Individual Learning Project 1 Instructions
Company Analysis and Evaluation Project
In this project you will select an organization or a segment of an organization, and interview key employees in order to gather information concerning the organization’s critical success factors (CSFs). Be sure to inform your interviewees that any proprietary information included in this project will be kept confidential. You will then develop a SWOT analysis to clarify and aid in the identification of the organization’s/segment’s CSFs. The written project requires you to prepare and submit the following in order:
- Brief description of the organization/segment (1 paragraph)
- SWOT analysis in chart form containing the following 4 categories: Strengths, Weaknesses, Opportunities, and Threats. Each item must be clearly and concisely stated.
- Balanced Scorecard in chart Clearly and concisely list CSFs in each of the 4 categories identified in the text. For each CSF, explain in a separate column how the measurement of the CSF will transpire.
- A discussion of the CSFs chosen for the organization/segment – Why were these particular factors selected? Why are they important in accessing the success of the company? (2–3 pages)
- An evaluation of the organization/segment to determine if it is achieving each of the CSFs. Analyze each CSF and use data from the measures indicated in the Balanced Scorecard as support for the conclusions. (2–3 pages)
Additional guidelines:
- The project must be at least 5 pages, excluding the 2 charts.
- The project must be written in current APA format.
- Avoid using first and second person (e.g., “I,” “we,” “you,” etc.).
- You must reference a minimum of your textbooks and 2 additional scholarly sources. Wikipedia, Investopedia, and the like are not considered scholarly sources and should not be used. Any use of these sources will be grounds for a 100-point deduction.
- Any personal communication must be cited appropriately within the text; however, citations of personal communication are not needed for the reference section.
- The project must include a properly formatted cover page.
- An abstract and table of contents are not needed.
- The final assignment must be submitted via the SafeAssign submission link.
- If the information within the SWOT chart or the Balanced Scorecard chart needs to be cited, you may deviate from current APA format and use superscripts, with the citations placed underneath the chart. This is the only deviation from the current APA manual that is allowed.
See the Course Syllabus for the Late Assignment Policy. See the grading rubric for more information concerning the point breakdowns.
Individual Learning Project 1 is due by 11:59 p.m. (ET) on Sunday of Module/Week 4
Expert Answer and Explanation
Company Analysis and Evaluation Project
Coca-Cola Company has been a key player in the manufacturing and distribution of nonalcoholic beverages across the world. The company has made significant highlights in addressing both internal and external concerns that affected their operations. Founded in Georgia in 1892, Coca-Cola is notably a global leaders in beverage manufacturing and distribution.
The company controls distribution channels of more than 500 nonalcoholic beverage brands; mainly beverages but also a series of varieties of other options including water, juice, coffee and related drinks.
SWOT Analysis
| Strength
Brand Awareness The company has a string brand awareness. Robust Distribution Network The company manufactures and distributes its products through consumer networks around the world that are owned and controlled by independent distributors and partners.
|
Weaknesses
Water Management Pointedly, water is a scarce resource in different parts of the world and faces a series of issues from misuse and the rise in demands for consumer goods whose production need a significant amount of water. Foreign Currency Fluctuation Due to their wide scope of operation and consolidated statement, the company has to translate its costs and revenues to different currencies which are affected by different exchange rates. |
| Opportunities
Diversification The company has made significant efforts in making use of its competitive advantage towards creating a presence in the rapidly beverage business. Extended Reach The company has an open market that can further be explored. |
Threats
Nutritious Selection The consumer market is significantly shifting from processed foods to organic and natural foods. Indirect Competition While the company faces competition from competing products such as Pepsi, the product and service offering is also under significant competition from indirect competition (such as Dunkin Brands and Starbucks) that offer healthier alternatives and unique choices. |
Review the SWOT analysis
Each category of the SWOT analysis can be expounded. The business can then evaluate the implications of the SWOT analysis to decide if they can take advantage of their strengths, opportunities and introduce new products. After assessment of the results, they can decide whether the weaknesses and threats should be addressed before they can make any adjustments to their existing products.
Critical Success Factors
The balanced scorecard is used by the management to assess, establish and improve different integral factors and outcomes in the business (Beulque and Aggeri, 2016, July). Further, the tool provides feedback for organizational data in different areas (such as marketing and distribution). The process is significant as it provides quality data that is interpreted (essential for decision making) by different managers in different organizational levels.
Balanced Scorecard in Chart
| Areas of Objective | Targets | Timeline | Responsibility |
| Customers Brand
-Fulfilment -identity |
Customer survey
Market Cap/Surveys |
Annually
Annually |
Marketing Manager Marketing Manager |
| Internal Process
-Employee`s Moral -Service Training |
Surveys
Number of seminars |
Annually
Annually |
Human Resources Management
Administrative Officer |
| Learning and Growth
Operations Diversity product line |
Acquiring Monster Beverage company |
Annually Annually |
Line Managers Line Managers |
| Business Ethics
-Ethical Capacity Building -Recycling |
Number of ethics capacity building sessions
Recycling 50% of the ultimate wastes |
Annually
Annually |
Project Officer |
| Financial Perspective
Revenue |
Growth by 50% annually better than the market trends. | Annually
Annually |
Finance Manager |
The Significance of Critical Success Factors
As far as the customers, internal process, financial, learning and development perspective is concerned, there is need for a strategic approach to ensure that the needs of the employees are addressed, employees are motivated and operational decisions are directed towards achieving the goals of the organization (Blocher, Stout and Cokins, 2010).
Pointedly, the goal of the company is to refresh its communities in body, mind and spirit in order to inspire optimism among customers through manufacturing and distribution of products that create value to their consumers. The management of the company evaluates its success not only through reliance on their monetary sales and products but also its successes through the determination of the impact that they pose on their customers so as to increase their sales volume.
Further, the company has come up with new products such as flavored drinks with zero sugar so as to address the concerns of their clients. Beyond that, the company publishes information of their products and financials so that their investors can make informed decisions on their investments.
The company is envisioned to creating an environment that the community can be inspired to feel in their right places and opportunities to improve their lives. The objective of the company is to provide their customers with a wide variety of products and to create a structure towards the development of fundamental strengths in their marketing and innovation so as to increase its efficiency and effectiveness in their relationship with its structure so as to generate a fresh energy through primary brands that is focused on the health and wellness of their communities so that they appreciate their produce hence increased sales.
The Business/Internal Process Perspective
Accordingly, this perspective is focused on the internal operations of the business as it improves their productivity through the creation of value for their customers and in the financial perspective as it increases the wealth of the shareholder.
Customer Perspective
The perspective of the customers is satisfaction. Expectedly, the products and service offering should focus on their needs and desires.
Financial Perspective
This perspective notes that it is important for the company to provide data that is timely and accurate so as to enhance the operations of the organization.
Analysis of the position of the company notes that their equity has mostly been fixed in neutral over the last decade, depicting support around the USD 37.00 mark and a resistance of about USD 44.00 (Habib and Aslam, 2014). Notwithstanding the limited rapid growth potential in the probable future, the issue has maintained a series of solid qualities and the companies’ shares has been noted to account for worthwhile risk adjusted return.
The company has developed advertising campaigns and strategies with an objective to advance and maintain the volume of sales. The brand managers have been able to initiate strategic approaches and plans that enhanced the company’s brand so that it achieves a competitive advantage. Similarly, the brand managers have successfully developed brand visions and strategy that include brand destination, target audience identification and development of key strategic imperatives.
The organization`s operating strategy is that the company acquire the knowledge and the capability to basic marketing operating approaches such as medial presence, strategic pricing, trade and consumer promotions used in the implementation of the marketing plans.
The other strategic approach is that the company ensures satisfaction of their consumer needs and desires. Further the business model creates, evaluates and highlights consumer based action frameworks that optimize long-term profitability. Coca-Cola makes use of the strategies of the market leaders in order to compete effectively in the global market.
While the Coca-Cola faces a series of challenges, the company possesses a significant set of advantages that position it ahead of its competitors. The overall size, leverage and final resources position the company to take advantage of meaningful acquisition aims. Similarly, the customer loyalty and brand appeal following guarantees its competitive advantage in the beverage industry.
The organization’s wide delivery network should either allow better volume ahead and success in the rapidly growing market.
An Evaluation of the Critical Success Factors
Arguably, Coca-Cola has made significant attempts to achieve its critical success factors. This has been achieved through an improvement of the SWOT analysis and evaluation of the measures indicated in the balanced scorecard.
Customer Perspective
Brand Awareness
Coca-Cola is one of the dominant brands in the global market (Mohammadi, Hnzayy and Azad, 2014). The company’s branding, logo and marketing campaigns resonates with consumers across all ages. The key players in the sector include PepsiCo, Inc. However, Coca-Cola has maintained a lead position in the global market.
Although the competition in the market is significantly increasing, as consumers are shifting their focus to other products due to individual preferences, the organizations stable financial and human resources is an added advantage to fueling its marketing efforts and increased productivity that later propels forward their market share in the long-run.
Wider Distribution Network
The company manufactures its products in more than 200 regions throughout the world (Habib et al., 2014). Their ability to make use of the company’s distribution network, as well as their independent partners has no parallel. The system allows the business to closely manage its cost implications, rapid innovation, and saturated geographical locations.
Further, the meaningful distribution network creates for an advanced level of productivity as the company pursues new market. The diverse operations and innovativeness have allowed marketing presence, volumes, deliveries and introduction of new products within a significant span.
Internal Process
Water Management
Water is a major highlight in the company’s production (Habib et al., 2014). It is a crucial factor in the business production and manufacturing process. Further, this resource is a significant propensity that the community serves. These events lead to an increased risk of pollution and poor management.
As the demand for water continues and water becomes stretched, the overall quality of available water is depleted remarkably, making Coca-Cola to incur higher costs and face capacity challenges that can significantly affect its productivity hence productivity.
Financial
Currency Fluctuations
Coca-Cola owns a series of assets and incur costs in economies other than those that use United States dollars. In this regard, the increases of decrease in the value of the United States dollar against other key countries have a significant implication on the net operating revenues, income and the value of the items on the balance sheet that are dominated in foreign currencies.
Although the weakness in a particular currency can be offset by a strength in another due to the companies’ graphic diversity, the company can barely hedge the effects of variations in the foreign currency and rates of exchange.
Learning and Growth
Diversification
The company has made significant efforts in making use of its competitive advantage to build a presence in the increasingly developing beverage industry. Pointedly, the company has finalized the purchase of 17% stake in Monster Beverage and the purchase is an opportunity for the company to access popular energy drink growth segment.
Partnership opportunities is an opportunity for the company to connect with younger customer base.
Extended Reach
Accordingly, the population is increasingly growing (Farkas et al., 2015). The company has been capitalizing on this fact through a focus on bolstering a series of its business segments. The challenges of water shortage in developing countries have also elevated the need for the company’s traditional beverages.
Nutritious selections
Consumers have increasingly boosted their knowledge for proper dietary and exercise. The consumer market is significantly shifting from processed foods to organic and natural foods. In this regard, soda offerings and other high sugar beverages have declined as far as healthy options are concerned.
Indirect Competition
Additionally, smaller franchise and retail outlets allow leads with private labelling substitutions for conventional Coca-Cola products that allows the delivery of beverages at lower pricing. The data from the sector suggests that possible data will continually pull away from primary options in favor of customized products that possess significant nutritional value.
References
Beulque, R., & Aggeri, F. (2016, July). Circular Business Model Innovation: Key Patterns and Challenges to unleash recycling value creation potential. In EGOS.
Blocher, E. J., Stout, D. E., & Cokins, G. (2010). Cost management: A strategic emphasis. Includes index.
Habib, S., & Aslam, S. (2014). Influence of brand loyalty on consumer repurchase intentions of Coca-Cola. European Journal of Business and Management, 6(14), 168-174.
Mohammadi, M., Hnzayy, S., & Azad, N. (2014). A study on packaging factors influencing on export development. Management Science Letters, 4(10), 2213-2220.
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FAQs
What Are the 5 Critical Success Factors
In the realm of strategic management, organizations strive to achieve success and gain a competitive edge. However, this endeavor is often complex and multifaceted, requiring careful consideration of various factors. Among these factors, Critical Success Factors (CSFs) play a pivotal role. In this article, we will explore the concept of CSFs, delve into examples, discuss how to identify them, and understand their significance in driving organizational success.
Introduction
Achieving success is the ultimate goal for organizations across industries. However, not all organizations manage to attain the desired level of success. This discrepancy can be attributed to several factors, including market dynamics, internal capabilities, and strategic decisions. To overcome these challenges and enhance the likelihood of success, organizations must focus on identifying and leveraging their Critical Success Factors.
Understanding Critical Success Factors (CSFs)
Definition of CSFs
Critical Success Factors (CSFs) are the key areas, activities, or variables that are essential for achieving organizational goals and objectives. These factors have a significant impact on the success and performance of an organization within its specific context. CSFs provide organizations with strategic focus, enabling them to allocate resources, make informed decisions, and prioritize efforts.
Importance of CSFs in Organizational Success
CSFs serve as the foundation for strategic management, acting as guides to direct organizational efforts. By identifying and addressing CSFs, organizations can align their strategies, operations, and resources to optimize performance and achieve desired outcomes. Moreover, understanding CSFs allows organizations to adapt to evolving market conditions and navigate industry-specific challenges effectively.
Examples of Critical Success Factors
Industry-specific CSFs
The critical success factors for organizations vary across industries due to the unique characteristics, dynamics, and challenges they face. For example, in the manufacturing sector, factors such as supply chain management, quality control, and cost efficiency may be crucial CSFs. On the other hand, for service-oriented industries, factors like customer satisfaction, service delivery speed, and employee expertise may be primary CSFs.
CSFs in Strategic Management
In the realm of strategic management, organizations need to identify CSFs to align their strategies with their goals. Some common CSFs in strategic management include effective leadership, innovation and adaptation, customer relationship management, and financial stability. By focusing on these factors, organizations can enhance their competitiveness and long-term sustainability.
Identifying Critical Success Factors
Methods and Approaches
Identifying CSFs requires a comprehensive and systematic approach. Organizations can conduct thorough analyses of their internal and external environments to pinpoint the factors that have the most significant impact on their success. These analyses may involve market research, customer surveys, competitor analysis, and internal performance evaluations.
Additionally, organizations can seek insights from industry experts, consultants, and key stakeholders.
Key Considerations
When identifying CSFs, organizations should consider several key factors. These include the organization’s mission and objectives, industry trends, competitive landscape, customer preferences, and resource availability. It is crucial to take a holistic approach, considering both internal and external factors that contribute to success.
Types of Critical Success Factors
Market-related CSFs
Market-related CSFs are factors that directly influence an organization’s performance within its target market. These factors may include market share, customer satisfaction, product quality, branding, and pricing strategies. By focusing on these CSFs, organizations can position themselves effectively, attract customers, and differentiate themselves from competitors.
Internal CSFs
Internal CSFs are factors that are within the organization’s control and have a direct impact on its success. These may include operational efficiency, employee skills and capabilities, technological infrastructure, and financial management. By prioritizing internal CSFs, organizations can improve their overall performance and operational effectiveness.
External CSFs
External CSFs are factors that are beyond an organization’s direct control but still significantly influence its success. Examples of external CSFs include regulatory changes, economic conditions, industry trends, and political factors. By understanding and adapting to these external CSFs, organizations can mitigate risks and seize opportunities.
Implementing Critical Success Factors
Aligning CSFs with Business Goals
To reap the benefits of CSFs, organizations must align them with their overall business goals and objectives. This alignment ensures that resources, strategies, and efforts are channeled towards the most critical areas. By integrating CSFs into their strategic planning and execution processes, organizations can increase the likelihood of success and avoid wasted resources.
Monitoring and Measuring CSFs
Once CSFs have been identified and implemented, it is crucial to monitor and measure their performance regularly. This involves setting key performance indicators (KPIs) that are aligned with each CSF and collecting relevant data. By tracking progress and analyzing the data, organizations can gain valuable insights, identify areas for improvement, and make informed decisions to optimize their CSFs’ effectiveness.
The Benefits of Focusing on CSFs
Enhanced Performance and Competitiveness
By focusing on CSFs, organizations can enhance their overall performance and gain a competitive edge. By directing resources and efforts towards the most critical areas, organizations can improve efficiency, productivity, and customer satisfaction. This proactive approach enables organizations to differentiate themselves from competitors and capture market opportunities.
Improved Decision-Making
CSFs provide organizations with a framework for making informed and effective decisions. By understanding the factors that drive success, organizations can prioritize their actions and allocate resources accordingly. This clarity and focus lead to better decision-making, minimizing risks and maximizing the likelihood of achieving desired outcomes.
Conclusion
In the pursuit of success, organizations must identify and leverage their Critical Success Factors. These factors serve as strategic guides, directing organizational efforts, and enhancing performance. By understanding CSFs, organizations can align their strategies, optimize operations, and navigate industry-specific challenges effectively.
By focusing on CSFs, organizations can enhance their competitiveness, make better decisions, and position themselves for long-term success.
FAQs
1. What are organizations’ critical success factors (CSFs)?
Organizations’ critical success factors (CSFs) are the key areas, activities, or variables that are essential for achieving organizational goals and objectives. These factors have a significant impact on an organization’s success and performance within its specific context.
2. Can you provide some examples of critical success factors?
Examples of critical success factors vary across industries and strategic contexts. Some common examples include supply chain management, customer satisfaction, operational efficiency, effective leadership, and financial stability.
3. How can organizations identify their critical success factors?
Organizations can identify their critical success factors through comprehensive analyses of their internal and external environments. This may involve market research, customer surveys, competitor analysis, and internal performance evaluations.
4. What are market-related critical success factors?
Market-related critical success factors are factors that directly influence an organization’s performance within its target market. These may include market share, customer satisfaction, product quality, branding, and pricing strategies.
5. How can organizations implement and monitor critical success factors?
Organizations can implement critical success factors by aligning them with their business goals and integrating them into their strategic planning and execution processes. Monitoring and measuring the performance of critical success factors involves setting key performance indicators (KPIs) and regularly collecting and analyzing relevant data.
