This Slide has been made to analyse how and why Ferrari was able to become one of the most exclusive brand recognized in the whole world. Through a deep analysis of
factors will be shown how internal decisions of the company are reflected on the external environment. In particular, through the internal analysis will be given emphasis to the values of the company, which include high attention to environment and human needs. It will continue analysing the strategy decisions and the supply chain of the company, finishing with a consideration on the combination of emergent and prescriptive approach.
In the second part will be discussed the external factors of the firm using more specific tools, as SWOT and PESTEL analysis.
The conclusion will touch on the new challenges of the company and the strategy for the future.
This presentation encompasses various strategies adopted by ferrari to make it a brand ,marketing strategies,strategic management and SWOT analysis and ansoff matrix for ferrari
This Slide has been made to analyse how and why Ferrari was able to become one of the most exclusive brand recognized in the whole world. Through a deep analysis of
factors will be shown how internal decisions of the company are reflected on the external environment. In particular, through the internal analysis will be given emphasis to the values of the company, which include high attention to environment and human needs. It will continue analysing the strategy decisions and the supply chain of the company, finishing with a consideration on the combination of emergent and prescriptive approach.
In the second part will be discussed the external factors of the firm using more specific tools, as SWOT and PESTEL analysis.
The conclusion will touch on the new challenges of the company and the strategy for the future.
This presentation encompasses various strategies adopted by ferrari to make it a brand ,marketing strategies,strategic management and SWOT analysis and ansoff matrix for ferrari
Harley Davidson - Marketing Strategies: Past, Present and Future.geniusdevil110
Marketing Strategies: Past, Present and Future
Course: Marketing Strategy
University of Ottawa
Group Members:
Asif A. Ali
Ali Mirza
Matt Conley
Raj Gill
Shana Tannis
An extensive product portfolio analysis on market requirements for developing, launching and positioning new products with a comparative case study for Porsche and Ferrari in branding strategies according to market opportunities and threats of luxury automotive industry in Europe.
Brand Analysis of Harley Davidson (from Indian perspective).Jay Shah
I have attempted a brand analysis of one of the giants in Automobile sector: Harley Davidson. This analysis is done keeping in mind the Indian market. The brand is doing great globally but to get dominance in the Indian market, it needs to understand India's consumer behavior because India is not like any other market. They need to be more flexible in their framing their strategic plans. The competition between HD and Royal Enfield is exciting for the consumers as well as marketers. Well, i wish that the best marketer may win!
Adidas AG is a German multinational corporation that designs and manufactures sports clothing and accessories based in Herzogenaurach, Bavaria, Germany.
An end-to-end analysis of Audi's branding and marketing strategies. The analysis focuses on the company's launch, history, brand evolution, and efficiency in capturing customer loyalty. Future branding and corporate strategies are also evaluated against the current regime as a comparison to competitors within the market.
This presentation illustrates the analysis of Harley-Davidson's competitive strategy. It is based on the case from Grant, R., 2010. Contemporary Strategy Analysis. 7th edition, pp. 636-654
The report studies the Brand "Adidas" and its aspects like CBBE, Brand Prism, Positioning, Target Segment.
This is made by Shivi Aggarwal and Madhusudan Partani, Students of FORE School of Managemnt.
Contact: madhu.partani@gmail.com
This is a presentation on mercedes-benz.It has the histrory of mercedes , why it became popular and who are the target audience of mercedes in india and their upcoming models in india.
The steps in running a social media marketing campaign - 40 min preso at Edge of the Web, Perth Australia #eotw
Blog post for background
social media marketing campaign http://laurelpapworth.com/australia-social-media-marketing/
Harley Davidson - Marketing Strategies: Past, Present and Future.geniusdevil110
Marketing Strategies: Past, Present and Future
Course: Marketing Strategy
University of Ottawa
Group Members:
Asif A. Ali
Ali Mirza
Matt Conley
Raj Gill
Shana Tannis
An extensive product portfolio analysis on market requirements for developing, launching and positioning new products with a comparative case study for Porsche and Ferrari in branding strategies according to market opportunities and threats of luxury automotive industry in Europe.
Brand Analysis of Harley Davidson (from Indian perspective).Jay Shah
I have attempted a brand analysis of one of the giants in Automobile sector: Harley Davidson. This analysis is done keeping in mind the Indian market. The brand is doing great globally but to get dominance in the Indian market, it needs to understand India's consumer behavior because India is not like any other market. They need to be more flexible in their framing their strategic plans. The competition between HD and Royal Enfield is exciting for the consumers as well as marketers. Well, i wish that the best marketer may win!
Adidas AG is a German multinational corporation that designs and manufactures sports clothing and accessories based in Herzogenaurach, Bavaria, Germany.
An end-to-end analysis of Audi's branding and marketing strategies. The analysis focuses on the company's launch, history, brand evolution, and efficiency in capturing customer loyalty. Future branding and corporate strategies are also evaluated against the current regime as a comparison to competitors within the market.
This presentation illustrates the analysis of Harley-Davidson's competitive strategy. It is based on the case from Grant, R., 2010. Contemporary Strategy Analysis. 7th edition, pp. 636-654
The report studies the Brand "Adidas" and its aspects like CBBE, Brand Prism, Positioning, Target Segment.
This is made by Shivi Aggarwal and Madhusudan Partani, Students of FORE School of Managemnt.
Contact: madhu.partani@gmail.com
This is a presentation on mercedes-benz.It has the histrory of mercedes , why it became popular and who are the target audience of mercedes in india and their upcoming models in india.
The steps in running a social media marketing campaign - 40 min preso at Edge of the Web, Perth Australia #eotw
Blog post for background
social media marketing campaign http://laurelpapworth.com/australia-social-media-marketing/
An analysis of Automobile Lamborghini S.p.A. as well as its sister concerns falling under the Lamborghini family. It provides an overview of the brand positioning, the values, brand identity and brand equity, analysis of competitors, etc.
Everything I needed to know about marketing I learned playing Dungeons and Dr...Ian Lurie
No, seriously. There are great marketing lessons in the game of Dungeons & Dragons. This is a updated, annotated version of a presentation I've given three times now.
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
Running head DETERMINING LEADERSHIP AND TALENT OPTIONS AT TOYOTA.docxsusanschei
Running head: DETERMINING LEADERSHIP AND TALENT OPTIONS AT TOYOTA
8
DETERMINING LEADERSHIP AND TALENT OPTIONS AT TOYOTA
DETERMINING LEADERSHIP AND TALENT OPTIONS AT TOYOTA
Richard K. Hairston
GM543.01
Organizational Diagnosis and Design
1/1/18
Professor
Dr. Rebecca Herman
Introduction
As part of a continuum on the best practices in organizational design and diagnosis, milestone three of this series concentrated on the concept of strategy at Toyota Corporation. The paper outlined various quantitative indices as part of a proposal to the best approach for managing strategy within the company. Among others, concepts revolving around operating models and decisional analysis were comprehensively explored as part of creating a substantive argument that had been taken at that point. As part thereof and forming part of the argument presented in these series of papers hitherto, it was conclusively determined that work specialization, decentralization, a span of control and chain of command are integral components of decisional analysis. This series seeks to determine the talent and leadership possibilities at Toyota, with a keen emphasis towards the design of the concept in its entirety as opposed to giving a “report” about what should possibly be done within the company.
Top level reporting
General President
CEOn-1
CEO1
CEO2
CEO3
CEO0
General Managers under each CEO
The top-level reporting structure shall include a company president at the very top, Chief executive officers for the various brands of Toyota. It must be noted that Toyota operates various autonomous companies which produce the various types of the car such as Toyota Wish, Toyota Prado, etc (Russel, 2006). This justifies the need to have these two powerful positions, with the only need for a CEO reporting to a president being the fact that various aspects of the Company’s beliefs need to be maintained constant- such as the design of the company’s logo.
Regional managers will directly report to the CEOs. Since the company mostly exports its products to offshore markets (Cusumano, 2008), it is logical to have managers who understand how the market structures in these regions work so as to improve the company’s sales worldwide.
Executive Team
The executive team, as illustrated by the positions in the “top-level reporting” shall consist of the general president, chief executive officers, and regional managers. The designation of these individuals in terms of role play within the company will heavily hinge on the principles of networks, diagnostics, beliefs, and boundaries (four governance levers). The general president of the company will mostly coordinate and enforce the beliefs of the company, issues such as why the logo should be kept round and its relevance in the modern market. The chief executive officers will need to undertake all rol ...
International Strategic Management is a comprehensive and ongoing management planning process aimed at formulating and implementing strategies that enable a firm to compete effectively internationally.
A Report On The Content Analysis Of Vision And Mission Statements & Environme...Navitha Pereira
Content analysis is done of the vision and mission statements of the Indian IT companies as it is a very effective tool; here certain set of themes or keywords are identified in the vision and mission statements and then their occurrence is taken into account and is recorded in terms of simple frequency.
Environmental analysis technique is where factors such as the international factors, demography, political/legal factors, technological factors and socio-cultural factors are firstly recorded and stated separately for internal environment & for the external environment and then they are totally integrated and put up into the SWOT table which is a summarizing conclusion of the analysis performed.
Research Journal Part 4Sheroda SpearmanMGT 498Febr.docxverad6
Research Journal Part 4
Sheroda Spearman
MGT 498
February 10, 2020
James Powell
Running head: RESEARCH JOURNAL PART 4
1
RESEARCH JOURNAL PART 4
2
Research Journal Part 4
In this week’s discussion about strategic planning, we discussed more corporate strategy. We learned that there are three scopes of corporate strategy which include vertical integration, diversification as well as geographic scope. We also learned the role of the company leaders in the strategic planning of the company. The discussion also touched on concepts such as tape, innovation integration global strategy and international strategy among many other concepts (Rothaermel, 2019). The main aim of these concepts is to help the company strategically plan for activities that will help the company grow. The concepts also help to align the company strategically with other companies. In this journal, I will discuss some of these concepts and how they apply to the company’s strategic planning.
Caterpillars Inc. short versus long term goals.
Caterpillars Inc. has created both short term and long-term goals to help grow the company. The short-term goals of the company are mainly key improvements in various areas are that enable the company to achieve its long-term goals. These short-term goals include improvements in renewable energy areas, water consumption intensity, reducing the number of recordable injuries, improving sales and revenues, and reducing the GHG emissions intensity in the next five years (Caterpillar Inc., 2019). The company also has long term goals that encompass the short term goals and this includes, reducing the energy intensity by 50 percent, reducing the emissions of the company by 50 percent, reducing the water consumption in the company by 50 percent and reducing the injury recorded rate in the company by 60 percent (Caterpillar Inc., 2019). All of these should be achieved in 5 years. The short term goals are the necessary steps that the company must take to achieve its long term goals. The main purpose of achieving the goals is to reduce the costs of operations, offer better products and reduce pollution to the environment.
Mergers and acquisitions contributed to the company’s performance.
The company has acquired three companies through mergers and acquisitions in the last 5 years. Two of the three companies acquired by caterpillar are from the private sector and have divested a total of 8 assets. These mergers and acquisitions have enabled caterpillar companies to increase their aggressiveness in the market place increasing its dominance in the global industrial market (Merger. 2019). It has helped the companies increase their value, improve their overall performance and has reached an increased growth in the regional and global market share and its products in the market. It has established a strategic market realignment in the company’s network helping it achieve more market shares and thrive well in the last 5 years.
The company’s global str.
Fleet management these days is next to impossible without connected vehicle solutions. Why? Well, fleet trackers and accompanying connected vehicle management solutions tend to offer quite a few hard-to-ignore benefits to fleet managers and businesses alike. Let’s check them out!
Things to remember while upgrading the brakes of your carjennifermiller8137
Upgrading the brakes of your car? Keep these things in mind before doing so. Additionally, start using an OBD 2 GPS tracker so that you never miss a vehicle maintenance appointment. On top of this, a car GPS tracker will also let you master good driving habits that will let you increase the operational life of your car’s brakes.
What Does the PARKTRONIC Inoperative, See Owner's Manual Message Mean for You...Autohaus Service and Sales
Learn what "PARKTRONIC Inoperative, See Owner's Manual" means for your Mercedes-Benz. This message indicates a malfunction in the parking assistance system, potentially due to sensor issues or electrical faults. Prompt attention is crucial to ensure safety and functionality. Follow steps outlined for diagnosis and repair in the owner's manual.
𝘼𝙣𝙩𝙞𝙦𝙪𝙚 𝙋𝙡𝙖𝙨𝙩𝙞𝙘 𝙏𝙧𝙖𝙙𝙚𝙧𝙨 𝙞𝙨 𝙫𝙚𝙧𝙮 𝙛𝙖𝙢𝙤𝙪𝙨 𝙛𝙤𝙧 𝙢𝙖𝙣𝙪𝙛𝙖𝙘𝙩𝙪𝙧𝙞𝙣𝙜 𝙩𝙝𝙚𝙞𝙧 𝙥𝙧𝙤𝙙𝙪𝙘𝙩𝙨. 𝙒𝙚 𝙝𝙖𝙫𝙚 𝙖𝙡𝙡 𝙩𝙝𝙚 𝙥𝙡𝙖𝙨𝙩𝙞𝙘 𝙜𝙧𝙖𝙣𝙪𝙡𝙚𝙨 𝙪𝙨𝙚𝙙 𝙞𝙣 𝙖𝙪𝙩𝙤𝙢𝙤𝙩𝙞𝙫𝙚 𝙖𝙣𝙙 𝙖𝙪𝙩𝙤 𝙥𝙖𝙧𝙩𝙨 𝙖𝙣𝙙 𝙖𝙡𝙡 𝙩𝙝𝙚 𝙛𝙖𝙢𝙤𝙪𝙨 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙗𝙪𝙮 𝙩𝙝𝙚 𝙜𝙧𝙖𝙣𝙪𝙡𝙚𝙨 𝙛𝙧𝙤𝙢 𝙪𝙨.
Over the 10 years, we have gained a strong foothold in the market due to our range's high quality, competitive prices, and time-lined delivery schedules.
5 Warning Signs Your BMW's Intelligent Battery Sensor Needs AttentionBertini's German Motors
IBS monitors and manages your BMW’s battery performance. If it malfunctions, you will have to deal with an array of electrical issues in your vehicle. Recognize warning signs like dimming headlights, frequent battery replacements, and electrical malfunctions to address potential IBS issues promptly.
Why Is Your BMW X3 Hood Not Responding To Release CommandsDart Auto
Experiencing difficulty opening your BMW X3's hood? This guide explores potential issues like mechanical obstruction, hood release mechanism failure, electrical problems, and emergency release malfunctions. Troubleshooting tips include basic checks, clearing obstructions, applying pressure, and using the emergency release.
"Trans Failsafe Prog" on your BMW X5 indicates potential transmission issues requiring immediate action. This safety feature activates in response to abnormalities like low fluid levels, leaks, faulty sensors, electrical or mechanical failures, and overheating.
Comprehensive program for Agricultural Finance, the Automotive Sector, and Empowerment . We will define the full scope and provide a detailed two-week plan for identifying strategic partners in each area within Limpopo, including target areas.:
1. Agricultural : Supporting Primary and Secondary Agriculture
• Scope: Provide support solutions to enhance agricultural productivity and sustainability.
• Target Areas: Polokwane, Tzaneen, Thohoyandou, Makhado, and Giyani.
2. Automotive Sector: Partnerships with Mechanics and Panel Beater Shops
• Scope: Develop collaborations with automotive service providers to improve service quality and business operations.
• Target Areas: Polokwane, Lephalale, Mokopane, Phalaborwa, and Bela-Bela.
3. Empowerment : Focusing on Women Empowerment
• Scope: Provide business support support and training to women-owned businesses, promoting economic inclusion.
• Target Areas: Polokwane, Thohoyandou, Musina, Burgersfort, and Louis Trichardt.
We will also prioritize Industrial Economic Zone areas and their priorities.
Sign up on https://profilesmes.online/welcome/
To be eligible:
1. You must have a registered business and operate in Limpopo
2. Generate revenue
3. Sectors : Agriculture ( primary and secondary) and Automative
Women and Youth are encouraged to apply even if you don't fall in those sectors.
Core technology of Hyundai Motor Group's EV platform 'E-GMP'Hyundai Motor Group
What’s the force behind Hyundai Motor Group's EV performance and quality?
Maximized driving performance and quick charging time through high-density battery pack and fast charging technology and applicable to various vehicle types!
Discover more about Hyundai Motor Group’s EV platform ‘E-GMP’!
In this presentation, we have discussed a very important feature of BMW X5 cars… the Comfort Access. Things that can significantly limit its functionality. And things that you can try to restore the functionality of such a convenient feature of your vehicle.
Ever been troubled by the blinking sign and didn’t know what to do?
Here’s a handy guide to dashboard symbols so that you’ll never be confused again!
Save them for later and save the trouble!
2. Introduction:
Ferrari S.p.A. is an Italian sports car manufacturer based in Maranello, Italy. Founded by Enzo
Ferrari in 1929, as Scuderia Ferrari, the company sponsored drivers and manufactured race cars
before moving into production of street-legal vehicles as Ferrari S.p.A. in 1947. Throughout its
history, the company has been noted for its continued participation in racing, especially in
Formula One, where it has had great success.
History:
Enzo Ferrari never intended to produce road cars when he formed Scuderia Ferrari (literally
"Ferrari Stable", and usually used to mean "Team Ferrari", it is correctly pronounced in 1928 as
a sponsor for amateur drivers headquartered in Modena. Ferrari prepared, and successfully raced,
various drivers in Alfa Romeo cars until 1938, when he was hired by Alfa Romeo to head their
motor racing department.
The first Ferrari road car was the 1947 125 S, powered by a 1.5 L V12 engine; Enzo Ferrari
reluctantly built and sold his automobiles to fund Scuderia Ferrari.
In 1988, Enzo Ferrari oversaw the launch of the Ferrari F40, the last new Ferrari to be launched
before his death later that year, and arguably one of the most famous supercars ever made. From
2002 to 2004, Ferrari introduced the Enzo, its fastest model at the time, in honor of the
company's founder: Enzo Ferrari. It was restricted to only the most wealthy automobile
enthusiasts, however, as each one cost $1.8 million apiece.
On 17 May 2009 in Maranello, Italy, a 1957 250 Testa Rossa (TR) was auctioned, by RM
Auctions and Sotheby's, for $12.1 million — a world record at that time for the most expensive
car ever sold at an auction. That record is now held by a Bugatti Atlantic which sold for over $28
million.
Products:
Ferrari's first vehicle was the 125 S sports/racing model. In 1949, the Ferrari 166 Inter, the
company's first move into the grand touring market, which continues to make up the bulk of
Ferrari sales to the present day.
Several early cars featured bodywork customised by a number of coachbuilders such as
Pininfarina, Zagato and Bertone.
The Dino was the first mid-engined Ferrari. This layout would go on to be used in most Ferraris
of the 1980s and 1990s. V8 Ferrari models make up well over half of the marque's total
production.
For a time, Ferrari built 2+2 versions of its mid-engined V8 cars. Although they looked quite
different from their 2-seat counterparts, both the GT4 and Mondial were closely related to the
308 GTB.
3. The company has also produced front-engined 2+2 cars, culminating in the current 612 Scaglietti
and California.
Ferrari entered the mid-engined 12-cylinder fray with the Berlinetta Boxer in 1973. The later
Testarossa remains one of the most famous Ferraris.
Concept cars and specials:
Ferrari has produced a number of concept cars, such as the Ferrari Mythos. While some of these
were quite radical (such as the Ferrari Modulo) and never intended for production, others such as
the Ferrari Mythos have shown styling elements which were later incorporated into production
models.
The most recent concept car to be produced by Ferrari themselves was the 2010 Ferrari
Millechili.
A number of one-off special versions of Ferrari road cars have also been produced, some of
which have been commissioned by wealthy owners. One of the examples is the Ferrari P4/5.
The Special Projects program is a collaboration by Ferrari with Italian automobile coachbuilders
such as Fioravanti, Pininfarina, and Zagato to build custom cars using selected Ferrari models as
a structural base. The first car under this program is the SP1, commissioned by a Japanese
business executive. The second is the P540 Superfast Aperta, commissioned by an American
enthusiast.
Bio-fuel and hybrid cars:
Ferrari has considered making hybrids. A F430 Spider that runs on ethanol was displayed at the
2008 Detroit Auto Show. Ferrari has announced that a hybrid will be in production by 2015. At
the 2010 Geneva Motor Show, Ferrari unveiled a hybrid version of their flagship 599. Called the
"HY-KERS Concept", Ferrari's hybrid system adds more than 100 horsepower on top of the 599
Fiorano's 612 HP.
Keys Towards Strategy Planning
The strategy statement of a firm sets the firm’s long-term strategic direction and broad policy
directions. It gives the firm a clear sense of direction and a blueprint for the firm’s activities for
the upcoming years. The main constituents of a strategic statement are as follows:
1. Strategic Intent
An organization’s strategic intent is the purpose that it exists and why it will continue to
exist, providing it maintains a competitive advantage. Strategic intent gives a picture
about what an organization must get into immediately in order to achieve the company’s
vision. It motivates the people. It clarifies the vision of the vision of the company.
Strategic intent helps management to emphasize and concentrate on the priorities.
4. Strategic intent is, nothing but, the influencing of an organization’s resource potential
and core competencies to achieve what at first may seem to be unachievable goals in the
competitive environment. A well expressed strategic intent should guide/steer the
development of strategic intent or the setting of goals and objectives that require that all
of organization’s competencies be controlled to maximum value.
2. Mission Statement
Mission statement is the statement of the role by which an organization intends to serve
it’s stakeholders. It describes why an organization is operating and thus provides a
framework within which strategies are formulated. It describes what the organization
does (i.e., present capabilities), who all it serves (i.e., stakeholders) and what makes an
organization unique (i.e., reason for existence). A mission statement differentiates an
organization from others by explaining its broad scope of activities, its products, and
technologies it uses to achieve its goals and objectives. It talks about an organization’s
present (i.e., ―about where we are‖).
Features of a Mission
a. Mission must be feasible and attainable. It should be possible to achieve it.
b. Mission should be clear enough so that any action can be taken.
c. It should be inspiring for the management, staff and society at large.
d. It should be precise enough, i.e., it should be neither too broad nor too narrow.
e. It should be unique and distinctive to leave an impact in everyone’s mind.
f. It should be analytical,i.e., it should analyze the key components of the strategy.
g. It should be credible, i.e., all stakeholders should be able to believe it.
3. Vision
A vision statement identifies where the organization wants or intends to be in future or
where it should be to best meet the needs of the stakeholders. It describes dreams and
aspirations for future.
An effective vision statement must have following features-
a. It must be unambiguous.
b. It must be clear.
c. It must harmonize with organization’s culture and values.
d. The dreams and aspirations must be rational/realistic.
e. Vision statements should be shorter so that they are easier to memorize.
In order to realize the vision, it must be deeply instilled in the organization, being owned
and shared by everyone involved in the organization.
5. 4. Goals and objectives
A goal is a desired future state or objective that an organization tries to achieve. Goals
specify in particular what must be done if an organization is to attain mission or vision.
Goals make mission more prominent and concrete. They co-ordinate and integrate
various functional and departmental areas in an organization. Well made goals have
following features-
a. These are precise and measurable.
b. These look after critical and significant issues.
c. These are realistic and challenging.
d. These must be achieved within a specific time frame.
e. These include both financial as well as non-financial components.
Objectives are defined as goals that organization wants to achieve over a period of time.
These are the foundation of planning. Policies are developed in an organization so as to
achieve these objectives. Formulation of objectives is the task of top level management.
Effective objectives have following features-
f. These are not single for an organization, but multiple.
g. Objectives should be both short-term as well as long-term.
h. Objectives must respond and react to changes in environment, i.e., they must be
flexible.
i. These must be feasible, realistic and operational.
Process of strategic Management
The strategic management process is a systematic approach to its company & its environment.
The strategic management process can be broadly divided in to 3 phase which consist of 19
steps. 3 phases in which strategic management process is designed are as follows.
I) Phase 1
Strategy Formulation
Strategy formulation can also be referred to as strategic planning. This step is designed by the
corporate level of the strategic management .The strategy formulation involves following steps.
1>Framing Mission & Objectives
The 1st step in formulation of strategy is to frame mission & objectives of a company. The
objectives are the aims or the end which the company seeks to achieve where as mission states
the philosophy & purpose of the company.
6. 2>Analyzing the Internal environment
The analyzing of internal environment refers to analyzing of manpower, machine, procedure &
other resources of the organization i.e. it reviles strength & weakness of the company.
3>Analyzing The External Environment
The external environment refers to government, combination, consumer, technological
development & other Environment Factors that affect the organization.
4>Gap Analysis
Gap analysis is the analysis in which the management compare & analyze it’s present
performance level & the desired Future performance level.
5>Framing Alternative strategy
After making Mission & Objectives analyzing the internal & external Environment & the Gap
analysis the management must frame alternative strategies i.e. some strategies may be put on
hold & some other needs to be framed for taking some decision.
6>Choice of Strategy
The organization cannot implement all the strategies & thus a firm Strategy must need to be
selected i.e. the strategy must need to be selected i.e the strategy which gives maximum benefit
& minimum lost Would be Selected.
II) Phase 2
Strategy implementation
The strategies are formulated for each & every functional department such as Production,
Marketing, Finance & personal. Once the strategies are formulated then the next step is
implement of such strategies.
1>Formulation Of Plans, Programmes & Projects.
There is a need to frame plan, programme & projects. i.e plans result in different kinds of
programmes & results in different kinds of programmes & programme leads to the formulation
of projects.
2>Project Implementation
Project passes through various stages before the actual implementation. The various phases
includes Conception phase, Definition phase, Planning & Organizing phase, Implementation
phase, Cleanup phase, Etc.
7. 3>Procedural implementation
The organization needs to be aware of the regulatory framework of the govt. authorities such as
regulation in respect of foreign technology, foreign collaboration procedure, FEMA regulation,
capital issue guidelines, foreign trade regulation, etc before implementing the strategies.
4>Resource Allocation
It deals with the arrangement & commitment of physical, Financial & Human resources to
various activities so as to achieve the goals of the organization.
5>Structural Implementation
Structure is the establish pattern of relationship among the components of parts of an
organization. The organization structure for strategy implementation can be of Entrepreneur
structure, Functional structure, Divisional structure, Matrix structure, etc
6>Functional implementation
It deals with the implementation of functional plans & policies. Strategies frame by the top
management needs to be divided in to vital functional plans & policies which are compatible
with each other.
7>Behavioral implementation
It deals with these aspects of strategy implementation that have an impact on the behavior of
strategist in implementing the strategies i.e. it deals with leadership, motivation, business ethics,
corporate social responsibility, etc.
III) Phase 3
Strategy Evaluation.
Evaluation of a strategy is that phase of s.m process in which managers try to assure that the
strategic choice is properly implemented & this meeting the objectives of the company this step
is taken up by the business level at strategic management.
The strategy evaluation involves following elements.
1>Setting of standards
Strategist needs to established standards in term of quantity, quality, cost & time
2>Measurement of performance
The next step is to measure the actual performance both in quantitative terms as well as
qualitative terms.
3>Comparison of actual performance with standards
The actual performance needs to be compared with standards. There must be objective
comparison of actual performance with standards so as to find out deviations.
8. 4>Finding out deviations
After a comparison, the managers may notice the deviation i.e the differences between the actual
& standards.
5>Analyzing Deviation
The deviation must be reported to the higher authorities. The higher authorities analysis the
cause of deviation if any is available
6>Taking corrective Measures
After identifying the Causes of deviation the managers need to take corrective steps to correct
the deviations. The corrective steps must be taken at the right time so as to accomplish the
objectives.
Thus the strategic management process which involves three phases including 19 steps.
To sum up the strategy management process can be showed with the following diagram.
Keys towards business strategy (SWOT Analysis)
SWOT analysis is a method for analysing a business, its resources, and its environment.
SWOT is commonly used as part of strategic planning and looks at:
Internal strengths
Internal weaknesses
Opportunities in the external environment
Threats in the external environment
SWOT can help management in a business discover:
What the business does better than the competition
What competitors do better than the business
Whether the business is making the most of the opportunities available
How a business should respond to changes in its external environment
The SWOT analysis for Ferrari can be explained as follows:
Strengths of Ferrari
Extremely strong brand image.
Products that are a fine combination of beauty and aesthetics combined with unforgettable
performance.
The brand has connected to itself an aura of mystique
Is looked upon as a status symbol
Takes on new challenges on a constant basis with a head on attitude.
Innovation and technology are key drivers behind every product.
9. A very inspired, well taken care of and satisfied work-force who are proud to be attached with
the brand. This was further expressed publicly when Ferrari was voted the ―Best Place to Work
in Europe 2007″.
Weaknesses of Ferrari :
Ferrari’s business model, based around low volumes, removes the possibility of employing
certain technological solutions
That same business model also limits their sales volumes even though a lot more demand is
present in the market.
Due to their ―waiting list‖ model, they lose out on customers to the competition.
A big challenge lying in wait is fuel efficiency & emissions which are growing in importance
every day, thanks to spreading concerns over the environment.
Opportunities for Ferrari:
Growth in the global market for high-performance super-cars due to growing economies &
developing nations.
Expansion of the brand through entering into new & important automotive markets like India
wherein competitors like Porsche have already set up base.
Enlargement of customer base (increase appeal of their products to a more variety of buyers)
through adding comfort, roominess, luggage space, engines that are more user friendly, and so
on, while at the same time maintaining traditional Ferrari characteristics–performance, style,
exclusivity. Ferrari has been exploiting this aspect for a while and it has been a key contributor to
their success in the past 15 years.
Development of technology (for example interfacing electronics with mechanical systems) has
opened up new avenues to explore for their products.
Packaging i.e. the concept of the car, is another area which still has years to explore.
Threats to Ferrari:
Automotive policies being pushed by countries & continents all over the world which are being
strictly enforced like the emission norms of 130g/km of CO2 are very difficult to keep up with
due to the performance oriented nature of the engines built by Ferrari.
Tough competition from other iconic super car brands like Lamborghini & Porsche
A competing brand like Porsche does not follow the same low volumes, high on exclusivity
model which is followed by Ferrari & hence sells a lot more of its products & captures a large
chunk of the market share.
Once again, competitors like Lamborghini and Porsche are expanding their product range to high
performance SUV’s wherein Porsche has already been very successful with its ―Cayenne‖
model, all over the world and in particular, in India, which has lead to its success in the Indian
market. Ferrari has not announced any plans for such a product (high-performance SUV) as of
yet i.e.-2009.
PRODUCT LIFE CYCLE
In the first phase, the introduction or start-up, we can see that Ferrari cars (as it is a luxury brand)
are not a basic product, moreover this company doesn’t need a strong promotion since it is one of
the most important teams of F1, which makes it really influential on the consumers.
10. In the growth phase, Ferrari has always been a successful brand. In this period customers are
more attracted by the product, however, if it has a selective public, the brand doesn’t have a
massive product extension, it grows little by little.
This stage can be the longest because the company can use a lot of marketing strategies like
taking out the market different models of the product or just manufacture a limited edition, which
increase the interest of the consumers.
For example, nowadays economy is in a recession stage, Andrea Ferrari, the marketing
responsible of the brand, assures that they keep on their waiting list for the Ferrari cars, the crisis
has allowed them to get rid of the speculators, people who made petitions and negotiated whit
them, which wasn’t very good for the image of the company.
BCG MATRIX
As already mentioned before, Ferrari is an outstanding, not usual brand, with a very special
marketing strategy and a small group of exclusive costumers.
Therefore, the products don’t conform always to the normal life cycles of a product (s. chapter
Product Life Cycle).
The BCG-Matrix is based on the life cycle of a product- consequently an analysis of Ferrari
products and creating following strategies by using the BCG-model could be problematic.
Furthermore, the importance of the dimension of the market growth rate is questionable in the
small market of luxurious super-sports cars, in which Ferrari compete.
On the other hand, for Ferrari the (relative) market share is an important indicator; this is the
second dimension of the BCG-Matrix.
Actually it is quite difficult to get free information about the Ferrari products. So it is not
possible trying to create a Ferrari portfolio analysis here or showing some cash cows, stars,
question marks or poor dogs. Ferrari should have some cash cows, products with a high market
share and low market growth. Those are the fundamental products because you don’t have to
invest in them and they give you much money. This money should be used for your question
marks or stars that need much money in the phase of becoming a cash cow.
But let’s put give an example of a Ferrari product that doesn’t fit with the BCG-analysis model
and outlines the special position of Ferrari:
When Ferrari wanted to build the ―_Enzo_‖, they set a limitation of 345 cars. These were sold
before they were produced. Moreover, the demand was that strong that Ferrari decided to sell
399 cars (later the 400th car was produced for a fundraiser). You see, there is no development of
the product, all Enzos were sold at once and Ferrari earned much money with them. But,
according to the definition of a cash cow, the Enzo can’t be called as one, as well as a question
mark, star or poor dog. Maybe the Enzo matches a poor dog soonest because with an amount of
400 cars there is no high market share and, also, the market of such a super-sports car is very
small. Moreover, a poor dog can bring you much money. And don’t forget the big marketing
influence which the Enzo has on the luxurious image of Ferrari.
In addition, here is shown Ferraris outstanding position- not anybody could buy a Ferrari Enzo,
you would be asked whether you want to buy one.
11. General Electric (GE) Matrix:
GE Matrix overcomes a number of the disadvantages of the BCG Box. Firstly, market
attractiveness replaces market growth as the dimension of industry attractiveness, and includes
a broader range of factors other than just the market growth rate. Secondly, competitive
strength replaces market share as the dimension by which the competitive position of each
SBU is assessed.
As Ferrari does not have any strategic business units (SBU’s), General Electric matrix cannot be
implemented.
The McKinsey 7S model
The Seven Elements
The McKinsey 7S model involves seven interdependent factors which are categorized as either
"hard" or "soft" elements:
Hard Elements Soft Elements
Strategy Shared Values
Structure Skills
Systems Style
Staff
"Hard" elements are easier to define or identify and management can directly influence them:
These are strategy statements; organization charts and reporting lines; and formal processes and
IT systems.
"Soft" elements, on the other hand, can be more difficult to describe, and are less tangible and
more influenced by culture. However, these soft elements are as important as the hard elements
if the organization is going to be successful.
The way the model is presented in Figure 1 below depicts the interdependency of the elements
and indicates how a change in one affects all the others.
12. Let's look at each of the elements specifically:
Strategy: the plan devised to maintain and build competitive advantage over the
competition.
Structure: the way the organization is structured and who reports to whom.
Systems: the daily activities and procedures that staff members engage in to get the job
done.
Shared Values: called "super ordinate goals" when the model was first developed, these
are the core values of the company that are evidenced in the corporate culture and the
general work ethic.
Style: the style of leadership adopted.
Staff: the employees and their general capabilities.
Skills: the actual skills and competencies of the employees working for the company.
Functional Strategy:
Every business unit develops functional strategies for each major department such as:
• MARKETING STRATEGY
• FINANCIAL STRATEGY
• HUMAN RESOURCES STRATEGY
• OPERATIONS STRATEGY
13. Marketing Strategy:
Ferrari follows strategies based on market dominance by which the company became the leader
amongst its competitors. The world's fastest Ferrari, the F60, was debuted in April 2002. It
succeeded the F50 and was composed of carbon fiber, with a mid-engine V-12 and the ability to
go from zero to 100 in 3.2 seconds. It also constituted as an innovation strategy that made Ferrari
as the pioneer in the field of automobiles.
Financial Strategy:
Ferrari inculcates finance strategy which includes components such as:
Mobilisation of funds
Working capital
Retained earnings policies
Human Resource Strategy:
Ferrari undertakes numerous policies for human resource management:
Recruitment and training policies
Performance
Promotion policies
Compensation policies
Operation Strategy:
Ferrari undergoes and applies various operation strategies such as:
Production capacity
Size & location of plant
Technology
Quality of production
Research & development
Modernisation
Grand Strategy:
Corporate-level strategy is concerned with the growth and survival of the firm. In the case where
a firm operates in only one industry, growth must occur through a properly implemented
business-level strategy, i.e. low-cost, or differentiation, or best-cost. It follows that all growth
within a single industry is governed by the effectiveness of a firm’s business-level strategy.
14. Stability Strategy:
Under stability strategy, Ferrari follows Profit strategy as the surplus margin of the products is
kept too high with respect to the goodwill Ferrari has gained in the market.
Growth / Expansion Strategy:
Internal growth:
Under intensification strategy Ferrari undergoes product development policy. Under
diversification strategy Ferrari follows vertical diversification with respect to forward integration
as it manufactures and sells its cars only via their own car showroom outlets across numerous
nations in different continents.
External growth:
In the year 1997, Ferrari merged with Maserati. This was the only merger that Ferrari had in the
last two decades.
Conclusion:
Ferrari in my opinion is a company that right from the beginning was ―builds to last", it was built
to be the best in Europe. Its founder Enzo Ferrari was driven to develop the best (fastest) sports
car possible not the most profitable. He was a clock builder, not a time teller so he developed
traditions, he always wanted to be in the leading edge of automotive development; being a
pioneer. That is why "so much of what Ferrari established and where it was begun continues"
today in Modena, Italy. He developed an internal drive that is crucial for company's success
throughout the test of time and competition from other companies. Like all the visionary
companies that I know, Ferrari also had its problems but Luca Cordero Di Montezemolo"the man
who saved Ferrari" and this internal drive played an intense role in the transformation and the
reconstruction of this once deeply troubled auto maker in to a European visionary company.
Ferrari in my opinion has changed the Italian economy forever. They were the ones that
stimulated all the automotive competition we have today in Italy, and they are the reason the
Italians today are known for their beautiful automobiles.