Report Of Fuji Vegetable Oil Company Strategic Plan

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Discuss about the Report of Fuji vegetable oil company Strategic plan.

The Fuji vegetable oil company has been a major supplier of oils and fats in the world.  It is located in America with its headquarters located in Japan. It was founded in 1987. Raw materials that are usually used are palm, palm kernel fractions and coconut.  For the years it has been in the market, it has been producing products that have been well appreciated by the oil consumers.  The company’s products are widely used in cooking at homes, hotels, used in manufacturing soaps and also in some baking companies. Recently, studies have shown that fats and oils are major contributors to development of heart problems such as high blood pressure, cardiac failure and stroke. This poses a risk to the future life of this company. Therefore, it is fundamental to develop a product that serves the initial purpose of oil and at the same time reduces risk of developing these conditions.  This will enable the company to continue giving its service to the community hence ensuring its continuity. The customers will also enjoy healthy products and their health is guaranteed. Therefore, the company should focus on investing in this project. Safety, quality and environment integrity being the top most priorities in this company, the vision of this project is to be the market leader in oil production while ensuring the health safety of our customers. With this in mind, the relevant stakeholders will work toward the vision as to meet the market demand and needs. Furthermore, the project mission is to provide quality and healthy products in the oil and fats manufacturing industry. This will work as the driving or motivating factor to achieving the company’s vision. The goal of this project will be to produce unsaturated and cholesterol free oils for healthy lives while the main objective is to reduce the levels of saturated fats in the palm, palm kernel and coconut oil. The current market competition poses a challenge to the company whereby it is important for the company to develop strategies that favour and give it an upper hand in the market. The relevant stakeholders will be involved in the developments of the strategies. The company’s stakeholders include: the company owner, funders, the workers, the shareholders, the researchers, the suppliers, the surrounding community and the government. Through group discussions, the owner, and the researchers will brain storm on how to develop a product that is healthy and competitive in the market. The company will implement the following strategies to achieve its goal of being the best company in production of unsaturated and cholesterol free oil products: conduct research on how to eliminate the 50% saturated fat in the raw material, call for funding from the possible donors, seek for other sources of raw materials to ensure continuous availability, increase the quality of the products and to promote their products through pilot testing, educate the community about the new product and its health benefits and advertisement. These strategic plans will the be presented to the managers, and departmental head for confirmation and advises. Through discussions in meetings and notices to be put within the company.  the information will be communicated to all the stakeholders so as to own the project and all to work towards achieving the goal.  Due to the current trends within the market, that is, availability of researchers in the company and the new technologies for research, this will be a boost to the attainment of the goal. The trending health risk issue associated with oils and fats is a trend that affect the company directly, the new advertisement models like social media, websites and other mass media will greatly aid in meeting the goal. The resources available from the company, funders, shareholder and profits will be allocated to the project depending with the need and priority. Firstly, research is key in this project,therefore together with purchasing of raw materials and advertisement will be allocated a higher percentage of the resources.  For the success of this project all the necessary parties should play their roles effectively. This will ensure unity during implementation of the project and hence success. Therefore,additional strategiesthat will be applied to ensure the success will be: educating all relevant bodies about the company goal. Study have indicated that effective communication from the high position in an organization to the workers and the other stakeholders motivates them to own the idea and this assures great performance in whatever is set to be achieved. Deadlines should be reinforced for all activities in line with this project. This will help all the participating parties to focus and this guarantees success, the other most important strategy is resource management. Through the human resource department, all departmental heads and the managers will be in charge of the allocated resources. Research have shown that the failure of many companies and organizations is due to poor managementof resources. Through the strength, weakness, opportunity and threat analysis the organization will realize its strong point and weak point which they will work on to increase chances of success. effectiveness of this strategies will be analyzed and implemented as advised by the relevant bodies. Consultations and meetings will be conducted among the owner of the company, suppliers and researchers for budget drafting and for identification of project risks. For the developed strategies an effective plan is that the education of the participating individual will run as the first thing then research will be conducted as the necessary funds are being sourced and then the findings from the research to be implemented and produce a product that is unsaturated and cholesterol free.

Company Background

The Fuji vegetable oil company operates and follow the international code of human rights. For instance, the code of freedom to thought and expression together with the workers right are some of the code that are relevant in the strategic plan of this project. The workers have the freedom to express their thoughts that they feel will go a long way to improving the projects. All participating parties are entitled to freedom of information.  Since communication is key, all participating parties will be continuously informed of the progress and the achievements obtained during project implementation process. In this project risk analysis will be conducted so as to help to identify and manage any challenge that may come up during the implementation of the project. This risk assessment will also help to prepare incase of threats. In that it will help to budget and allocate resources to deal with any risk that may arise. In this project, several parties will be involved.For instance, all the stake holders will brainstorm to give suggestion of the possible risks that may face the organization. Both internal and external risks will be considered.  The SWOT analysis will be used to identify the risks. The possible risk factors may include: market competition, rising cost of raw materials, change in industry regulations, death of a worker, theft, consumer preference and technological changes. The risks will then be estimated so as to realize the probability of the risk happening.The risk factor/ probability chart will be used to approximate the cost of the risk. This will help in the budgeting for the risk in the final budget of the project. After identifying the cost of all the risk, means of managing the risks will be developed. Brainstorming will still be used. here all stakeholders will give their views. Studies have given some of the method that can be used to manage risks. For instance, in case of a professional worker’s death the company can accept this as a risk and opt to ensuring continuous training of other staffs of the related job skills. The company may also decide to share the risk. In case of theft or fire the company can insure the company so as to share the cost of damage with the insurance company. The company can also avoid the risk. The political, economic, social and technological (PEST) analysis will be conducted to enhance the determination of the growth rate of the market or its decline. This analysis will also enable the organization to plan on what activity to work on first. These factors will be identified in consultation and meetings of the stakeholders where they shall brainstorm on these factors. This will help to identify a wide range of factors that may face the company, consequently enable planning for the project. Factors that may be identified in this analysis include: identification of tax, government policies, impact of new technology in the market, inflation, growth in the business market or its decline, change in lifestyle and customer attitudes towards a certain product. The strengths, weaknesses, opportunity and threat (SWOT) analysis will also be done through consultations. This analysis enables the company to identify the advantage it has over their competitors. This can help in improving on their advantage or improving their weakness so as to dominate the market. The SWOT analysis help the organization to realize the internal and external factors that may affect the company. When an organization learn its weaknesses and strength and the opportunity they are exposed to, it is now in a position to strategize on how to seize the opportunity and how to avoid or deal with the threats facing them. Moreover, this analysis also enables them to identify the strength and weaknesses of their competitors and this also help them in proper planning of the right strategies to embrace. For the organization to do these analysis, they require sufficient information.  Studies have developed models that are used to acquire information. There are two sources of information.

Market Competition

That is, Internal sources and external sources. In internal sources, the organization can access information from its own departments. For instance, financial information for projects can be related to the past projects cost and this can give an indication of the cost of the proposed project. Risk information can also be obtained from the organization itself. Through the past experience it is possible to determine the possible threats that may face an organization or a project. In external sources, the information can be obtained from research work. Many scholars research on organizations and document their findings. This act as a source of secondary information that help an organization to learn more about another company and identify factors such as risks, strength, challenges and achievements of other companies. The internet is also a good source of such information. A company is defined by what they produce or the service they give to the community and also its connection with the community. The values of an organization are very crucial. For an organization to develop its own value it considers its culture. The culture reflects how they interact with each other. The strategic plans of an organization may also define its value. When a certain plan is achieved the value is prone to change so as to accommodate the new strategic plan. The culture needed to achieve the plan also is essential in define the values of an organization this is the factor that leads to adoption of new values whenever a new strategic plan is developed. The chosen or new values of an organization needs to be understood by all stakeholders. This will make all to work toward achievement of a set goal without compromising. Therefore, the set values should be understood by all. The new values should then be incorporated in the organization processes. Unfortunately, research has shown that nowadays the organization run to hiring highly qualified personnel and overlooking the cultures of their organizations. This has led to many companies hiring the wrong candidate who will uphold the culture and the trend of the company. In this project the values should be highly considered to enhance soft running of the project and ensuring the success. The core value for the Fuji vegetable oil company is that it is dedicated to delivering quality services and products to their customers all over the world.

The Fuji vegetable oil has secured a wide market in the oil industry due to the quality of the of products they produce. Through PEST and SWOT analysis, the company will identify the internal and external environment that may affect the success of the company. The company managers and the other workers will discuss through meeting and identify the internal factors. This will be done through SWOT analysis.

internal environmental factors that affect the company are: few trained staff, unavailability of enough resources, company culture, and poor risk management. The managers will then find information from the public, books and internet through PEST analysis to identify the external factors. The external factors that affect the company are: competition, customer preference and suppliers. These environmental factors highly determine the success of the project.

The drafted plan will be circulated to the managers, departmental heads and the company auditors. They will advise accordingly. From the directives and solutions given by the managers and departmental heads the changes will be applied accordingly. The edited and finalized document will then be forwarded to the company shareholders and funders for approval. The approval of the plan will mean working towards the implementation of the project. Firstly, all the stake holders will be informed. Studies have indicated that continuous communication of the company progress to all the staff is essential. This make them own the project and all to play their role accordingly.

This also help the workers to work as a team. The workers and researchers will be informed through meetings and department memos, the suppliers and distributors will be called in for briefing meetings. The plan will be implemented and the performance analysis to be done as scheduled in the plan

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