Strategic alignment for The Wissol Company
Discuss about the Strategic Alignment and Firm Performance.
In this current technical era it has been found that, regardless of the type of the business background the organizational strategies are changing every day. It is necessary for any business organization to consider accurate strategic alignment so that it can gain effective revenues and competitive advantages simultaneously. For this particular report the nominated organization is a small Yugoslavian retailing showroom named as “The Wissol Company”. The proposed strategic alignments for this company are elaborated in this below section. The company should prepare real cash for carrying out the trades of the company accordingly (Hopkin 2017). By increasing the operational efficiency and overall quality the service and affordability of the company can be improved. The small companies are predominate the number is exceeding largely in wholesaling. In the year of 1994, the number of wholesaler and the retailer’s ratio was 3:1. The total number of sales volume in case of wholesaling was around 1.6 times greater than in retailing. In order to set the showroom businesses the wholesaler operates widely in the country.
Strategic alignment is referred to as a business process rather mechanism that helps to organize and visualize the relationship between the business process of The Wissol Company and their strategies as well. by using the concept of strategic alignment The Wissol Company enables the organizational decision makers to gather all necessary insights those are based on the current organizational processes. However, according to the current business trends it is little difficult to define all necessary sustainable optimal process set (Cagliano, Grimaldi and Rafele 2015). Though, there is no such specific strategic framework is available that is used for the strategic alignment of any business organization. Thus, based on the background of the company the project owners should design the project strategic alignment framework. The strategic alignment designed for the company is also based on the requirements of the company.
The information system of the company was designed in such a way so that it can meet the requirements and the strategies of the business organization by giving all the data to the consumers as per their demand (Bromiley et al. 2015). It will positively disallow all data loss during the transaction. All specific activities are required to be designed by the project managers considering integration management, system store operational management, human resource management, warehouse distribution management and financial management as well. In order to build a better understanding among the project managers and the project team members it is necessary for the company owner to design the proper business strategies so that is become more aligned towards the company objectives.
Resource Management and Quality Assurance
The Wissol Company should define the market level requirements during making target towards the no-core business operations. The business strategies should be capitalized and designed considering all possible threats. The company owner should improvise the market share considering stronger customer relationship management approaches (Ho et al. 2015). The business strategy should have the ability to change the organizational structure based on the potential threats and company vision. It is the responsibility of the company to establish necessary security links between the project development activities so that the organizational structure can be implemented successfully.
Resource management and quality assurance are the other two elements on which the company is required to focus on each phase. System administration is another important thing that has to be considered for the successful implementation of the company objectives. The company scope and objectives should be prepared to make the organizational operation smoother and error free. The vision of implementing the strategic alignment is to meet the organizational goal and the mission of the company is to make the company one of the highest position holders (Prioteasa and Ciocoiu, 2017.). The aim of “The Wissol Company” is to deliver affordable service to their consumers by improving the stakeholders alignment with arranging the portfolio, program, operation and project accordingly.
After analysis the background of the Yugoslavian retailing industries it has been found that, since 1990 due to centralized economy, legacy of the planning, hyperinflation and huge commercial crisis the Yugoslavian retailing industry is facing huge risks. The small companies predominate and the number of the number is exceeding largely in case of wholesaling. The obsolete risk management structure should be avoided by “The Wissol Company” and the risk management strategy that has to be adopted is elaborated in the below section.
Risk analysis is referred to as a process that is used for defining and analyzing the dangers for individual business and government agencies those are posed by the potential natural as well as human caused adverse incidents. In case of the application of the information technology it has been fund that risk analysis is a align technology related aim with the company business objectives (Kaiser, El Arbi and Ahlemann 2015). For Wissol Company the risk management strategies are developed considering the current risks that the company is currently facing. It has been found that, the operational and functional activities of the company are getting negatively impacted due to the risks.
Proposed Risk Analysis and Risk Management Strategies
It is necessary for the company owner to develop roper risk management strategies so that issues can be resolved accordingly. The risk management strategy is consists of three phases risk identification, risk analysis and risk resolution. Based on the impact of the risks those are needed to be prioritized accordingly. The negative impacts of the prioritized risks are again categorized from 1 and 5. The difference in values again shows that whether the impact is high or not (Prioteasa and Ciocoiu 2017). If the value is 5 then that risk will be defined as a harmful one the other hand, if the risk value is range in 1 then it will determine that risk can be easily mitigated and resolved. During the lifecycle of the business operation it has been found that, The Wissol Company is facing many risk and the risk management strategy developed for the company is elaborated in the below section.
|
Level of risk |
Description of the risks |
Liability |
Warning |
Mitigation strategy |
|
1 (minimum) |
Assessment issue |
It is the role of the company owners and the rest of the employees to assess all possible issues before the development of the final business strategy for the company. Not only this but also it will allow the |
The possible opportunities and improvements are required to be identified. If the company fails to identify theses then serious issues will raise thus warning must be generated in such cases. |
Before initiating the final business it is necessary for The Wissol Company to diagnosis the organizational models for the retail wholesalers (Marcelino-Sádaba et al. 2014). In order to implement as error free information flow rudimentary level technical support is required to be implemented by the company. In addition to this, for this particular company general reengineering is required to be implemented in terms of research. |
|
5 (high) |
Sales issue |
Due to lack of proper business strategy the company is facing serious sales issues. |
If the company fails to consider all necessary buying and selling and buying approach then in that case necessary warning should be generated. |
The Wissol Company was facing serious sales level issues due to the vast difference between the retail and wholesale showroom business and the organizational model. In order to resolve this issues the company is required to deliver possible documentation business strategies accordingly (Wu, Straub and Liang 2015). proper showroom selling process should have to be designed so that the primary design of the company is followed accordingly. |
|
Improper communication |
Proper communication among the working employees of The Wissol Company was missing. It is the role of the working members to utilize proper communication approaches in terms of team communication (Gerow, Thatcher and Grover 2015). Team communication will increase the overall team efficiency also. |
If any employee fails to respond to the request or give too late response then both of these approaches will take the company towards major failure. In such situation warning signs are generated. |
It is necessary for the company to design proper team communication through open communication. On the other hand the technologies that the company should be used while communicating with each other include Skype, video chatting, Facebook chatting etc. |
|
|
5 (high) |
Improper fundamental strategic assumptions |
Proper salesperson should have to be hired for the successful implementation of the business strategies. (Obeidat, Al-Dmour and Tarhini 2015) |
Warning must be generated if The Wissol Company fails to assume all fundamental business strategies. |
It is necessary for the company to concentrate on radical reengineering of the business process so that a broader change can be incorporated in terms purpose process people and strategic structure systems. |
References
Bromiley, P., McShane, M., Nair, A. and Rustambekov, E., 2015. Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), pp.265-276.
Cagliano, A.C., Grimaldi, S. and Rafele, C., 2015. Choosing project risk management techniques. A theoretical framework. Journal of Risk Research, 18(2), pp.232-248.
Gerow, J.E., Thatcher, J.B. and Grover, V., 2015. Six types of IT-business strategic alignment: an investigation of the constructs and their measurement. European Journal of Information Systems, 24(5), pp.465-491.
Ho, W., Zheng, T., Yildiz, H. and Talluri, S., 2015. Supply chain risk management: a literature review. International Journal of Production Research, 53(16), pp.5031-5069.
Hopkin, P., 2017. Fundamentals of risk management: understanding, evaluating and implementing effective risk management. Kogan Page Publishers.
Kaiser, M.G., El Arbi, F. and Ahlemann, F., 2015. Successful project portfolio management beyond project selection techniques: Understanding the role of structural alignment. International Journal of Project Management, 33(1), pp.126-139.
Lam, J., 2014. Enterprise risk management: from incentives to controls. John Wiley & Sons.
Marcelino-Sádaba, S., Pérez-Ezcurdia, A., Lazcano, A.M.E. and Villanueva, P., 2014. Project risk management methodology for small firms. International journal of project management, 32(2), pp.327-340.
Obeidat, B.Y., Al-Dmour, R.H. and Tarhini, A., 2015. Knowledge management strategies as intermediary variables between itbusiness strategic alignment and firm performance. European Scientific Journal, ESJ, 11(7).
Prioteasa, A.L. and Ciocoiu, C.N., 2017. Challenges In Implementing Risk Management: A Review Of The Literature. In Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE (Vol. 11, No. 1, pp. 972-980). Faculty of Management, Academy of Economic Studies, Bucharest, Romania.
Viglione, J., Rudes, D.S. and Taxman, F.S., 2015. Misalignment in supervision: Implementing risk/needs assessment instruments in probation. Criminal Justice and Behavior, 42(3), pp.263-285.
Wu, S.P.J., Straub, D.W. and Liang, T.P., 2015. How information technology governance mechanisms and strategic alignment influence organizational performance: Insights from a matched survey of business and IT managers. Mis Quarterly, 39(2), pp.497-518.
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