Answer to Question #224575 in Management for Naaa

Question

Assume that you are a strategist and you work for one of the businesses in the Bottled Water Industry in Ghana. With the aid of Porter’s Five Forces, critically analyse the industry. Based on your findings, you are required to make some conclusions and recommendations that can help your company to strategically adapt to the changing external environment. 

Answer 1

1. Competitive rivalry

This force investigates the level of competitiveness in the marketplace. It takes into account the number of current rivals as well as what each one can provide. When just a few firms are supplying a product or service, the market is developing, and consumers may quickly move to a competitor's offering at little cost, then competition is intense2. The bargaining power of suppliers

This force examines how much clout a company's supplier has and how much control it has on its capacity to raise prices, lowering profitability. It also evaluates the quantity of raw material and other resource providers available.

3. The bargaining power of customers

This task group investigates consumer power and its impact on pricing and quality. When there are fewer customers, they have more power, but consumers may easily switch when there are many sellers.

4. The threat of new entrants

This force takes into account how simple or difficult it is for rivals to enter the market. The simpler it is for a new rival to get into a market, the higher the danger of a well-established company losing market share.

5. The threat of substitute products or services

This force investigates how simple it is for customers to move from one company's product or service to another.

Conclusion

The competitiveness of American industry is heavily reliant on smaller makers. They make up most manufacturing businesses, are vital components of the supply chain for both commercial and defense products, and employ the great majority of workers. However, many of these smaller businesses are not reaching their full potential. Their utilization of modern manufacturing equipment, methods, and management practices are insufficient to assure global competitiveness in American manufacturing.

Recommendations

·        Create and communicate meaningful values.

·         Conduct proper selection.

·        Improve orientation and onboarding.

·        Enable and empower employees.

·        Engage employees all year round.

·        Coach employees.

·        Communicate effectively with employees.