Internal Analysis of JLL Company
With the increasing ramified economic changes and complex business structure, each and every organization needs to generate core competency to survive in market. The core competency is ideally created by using the resources optimally and creatively. In this report, JLL Company has been undertaken to evaluate the internal strength of company. There are several approaches to evaluate the internal strength of company such as SWOT analysis, Porter’s five forces analysis, VRIO analysis (JLL Company, 2017). However, by using the VRIO analysis, value, rarity, inimitability and organization support could be analyzed. In addition to this, benchmarking is also one of another tool which is used to evaluate the organization strength in the market. These all tools assists in identifying where company needs to make improvisation to make its business functions more effective (Nanjala Wabwile, and Namusonge, 2017). The JLL Company is NYSE listed company which is leading the market with its professional services of the real estate and investment management. This company has been operating its real estate business on international level (JLL Company, 2017).
The main vision of company is to reimagine the world of real estate by providing customized real estate and investment management services to clients (JLL Company, 2017).
The main mission of JLL Company is to cover at least 30% market share in the real estate business market in United America (JLL Company, 2017).
It is the fortune 500 companies with its nearly 300 corporate offices which are operated in over 80 countries. It has international brand image and indulged in using the advance technologies and digital systems to achieve the certain goals and objectives. It has also followed product differentiation and cost leadership strategy to win over the market. However, company has been facing issue to cope up with its undertaken strategic program. It is analyzed that with the increasing business trends, company has been facing issues to manage its cost leadership and product differentiation strategy to win over the market (Vitasek, Fenn, and Flynn, 2018).
The internal analysis of business functions, strength and weakness of company focuses on the internal factors that give an organization certain advantages and disadvantages in the meeting the need of its target market. The strategies are ideally referred as core competency that gives organization an advantage to meet the determined targets and goals. It is analyzed that the strategic programs and undertaking strategies are the key aspects which are used by organization to achieve the certain goals and objectives in long run. It is analyzed that the JLL Company has been operating its business on international level to provide the real estate and investment management services. All the long term and short term strategies adopted by organization has been formulated with a view to strength the market position of company in market. With the ramified economic changes and complex business structure, JLL Company has adopted advance technologies and cyber computing system in its business process. This strategy is adopted to establish the automation in the business process and increase the overall outcomes of the business. It has been observed that people in America are inclined towards buying and availing services from the organizations which are accompanied with the highly advance technologies and system process in their value chain activities (West, Ford, and Ibrahim, 2015). It is analyzed that JLL Company has established automation in its several process systems which not only lower down the cost of capital of the business but also strengthen effectiveness of the business process. It is one of the best strategies to win over the market (JLL Company, 2017). JLL Company needs to strengthen its business activities to achieve the set objectives and goals. With the increasing competition, it has to keep its business distinct from others to win over the market. In addition to this, company is also having more than 100 employees who have good amount of experience in their working. These persons endeavor towards achieving organization goals and objectives of organization. However, JLL Company has used its resources to expand its business in its existing and new markets. It is analyzed that company follow the matrix project strategic planning to accomplish its undertaken projects. The matrix project strategic plan is the method in which selected employees joins together to achieve the certain goals and objectives. These matrix projects are ideally used when company takes complicated tasks in its business activities (Petrulaitiene, and Jylhä, 2015).
Key Factors Affecting JLL Company’s Internal Factors
There are mainly following areas which are considered by organization to look all of its internal factors which affect the JLL Company (Chong, and Olesen, 2017).
Resources- These are the main factors and assets which are used by organization to implement effective business functions. It is accompanied with the profitability, sales, product and services quality offered in market, existing brand image relative cost of the services provided in the market, employee capabilities and product portfolio analysis. These are the main key factors which are undertaken by organization to meet set targets and goals in long run. Profitability- JLL Company has increased its total revenue to USD $ $5.8 billion which is 22% higher as compared to last five year data. It has been divulged that company has strengthen its business by expanding its business in other market. However, company has focused on increasing quality of its real estate services to achieve the set objectives. Nonetheless, increased turnover is the best part of increased profitability of the organization (Petrulaitiene, and Jylhä, 2015).
Products and service quality offered- Company has focused to create core competency by following product differentiation strategy. It is the strategy in which company will offer best quality real estate and investment management services to keep its offered services different from those of others in market. However, using cyber computing system and advance technologies will increase the overall quality of these services and assist organization to develop core competency in product differentiation strategy. This strategy will also assist JLL Company to strengthen its brand positioning in market (Alvarez-Rodríguez, Vafopoulos, and Llorens, 2015).
Employee capabilities- There are more than 150 employees who have good amount of experience in this working field. It is analyzed that these highly experienced employees will assist in developing core competency in product differentiation strategy of organization.
Brand positioning- Company has used online marketing channels and system procedure to strengthen the business position and its business effectiveness in long run. It has been observed that company has created strong brand image due to its long term sustainable business functioning in long run. It has also used the eco-system procedure to increase the overall brand image in society (Kioko, 2017).
These are the resources have been used by company to manage its business and grow throughout the time. However, company has faced tough competition in market with the ramified economic changes and it has also impacted the high cash outflow from its business (Alvarez-Rodríguez, Vafopoulos, and Llorens, 2015).
Issues and Potential Opportunities for JLL Company
It is analyzed that in the internal work functioning, the main issue which company is facing is related to the high employee turnover and increased financial leverage. It is considered that company needs to undertake proper strategic management process to mitigate these issues with a view to mitigate these issues throughout the time. These issues have emerged due to the less effective business functioning and less motivational program of the organization. It is analyzed that company needs to undertake proper training and development program to motivate employees and assist them to adapt with the changing business environment (Petrulaitiene, and Jylhä, 2015).
There are several issues and potential opportunities which have been observed by JLL Company in its business. It is analyzed that there are main four key criteria by which capabilities can be assessed in terms of providing a basis for achieving sustainable competitive advantage in market (Chong, and Olesen, 2017).
Value- It is the business functioning which focuses on achieving the set objectives and goals of the organization. The business process of JLL Company focuses on the creating the core competency in cost leadership strategy by offering it’s all the products and services at very least cost. It is analyzed that company has followed the six sigma business strategic program to offer the best quality goods and services in market to attract more clients. This strategy is adopted by using the online cyber computing system in its business process to strengthen the business process system and increase the overall quality of its offering (Wu, Straub, and Liang, 2015).
Rarity- It is analyzed to focus on the available resources and assets of the organization. It is analyzed that company has increased its investment in the business process system to increase its overall productivity of the organization. However, the management department focuses on using the capital budgeting process to identify which process would give better business outputs. In addition to this, company has also invested its capital in its research and development department to increase its business efficiency and establish the automation in its process (Kämpf-Dern, and Pfnür, 2014).
Inimitability- It reflects the core competency of organization to beat the market and give the tough competition to its rivals. It is analysed that company has created core competency in its product differentiation and cost leadership strategy. It is analysed that JLL Company has designed its all the products and services as per the clients need and customized all of them to strengthen the business output of its business. Furthermore, Company has also used IT system in its business to make its business more effective. It has used advance system process to design the process to strengthen the overall business functioning. The company has created the inimitability by using the advance system process to offer best quality goods and services in market (Chong, and Olesen, 2017).
Criteria for Achieving Sustainable Competitive Advantage
Organization support- It is the support program which is based on creative and innovation development plan undertaken in the research and development department. It is considered that the more than 50 employees is indulged in the research and development program of organization which focuses on the improving the business functioning and promoting the creative and innovative business functioning of organization. This organizational support program is designed to promote the business and create the strong core competency to win over the market. However, all the business process and value chain activities is supported and based on the cyber computing enterprises resources planning which assists in strengthen the communication program of different business organizations (GOH, 2015).
After analysing all these details, it could be inferred that company needs to increase its overall sales in market. It is analysed that company needs to take proper marketing plan to strengthen its business outputs and overall business attraction towards its clients. However, in order to implement the proper marketing plan, management needs to implement the marketing mix (Chong, and Olesen, 2017).
Product- JLL Company has been offering real estate services and investment management products to its clients to add value in their investment. However, preparation of portfolio should be based on the proper strategic plans and risk and return analysis (GOH, 2015).
Price- The fees, charges charged by company should be undertaken on the basis of market rivals offering. JLL Company will follow the cost plush pricing method in which prices and charges will be determined on the basis of cost and determined profit (Dybskaya, and Vinogradov, 2018).
Process- JLL Company should re-engineer its business process to attract more clients in market. It is analysed that process system will be supported by the proper cyber computing system which will assist organization to connect all of its business process with each other (Ferreira, 2015).
Physical attributes- It is related to company’s offering in market. It is analysed that company will use the loyalty card and its innovative and creative products offering in market to attract more clients in market and strengthen its brand image in long run (Dybskaya, and Vinogradov, 2018).
Promotion- It is the promotional process of the company which will assist organization to strengthen its brand image. Company have used online social media, promotional development plan, loyalty card and undertaken ERP online system to promote its business online. It will also strengthen its business brand image to attract more clients in market (Dybskaya, and Vinogradov, 2018).
Conclusion
People- It will include all the potential and proposed clients who will buy the services and products offered by company in market. It is analyzed that people are more inclined towards buying goods and services from the company which uses advance technologies and system process (D. McCarty, and Gottschalk, 2014).
There is another tool which could be used by JLL Company to strengthen its business functioning with view to increase its overall market share on international level. It is the tool which is used to cope up with the existing offering in market. It is analyzed that if company wants to improve its business functioning then it will have to set up the proper targets and goals for its employees. It will not only motivate them to set new targets for them but also strengthen the quality of the business process of JLL Company. This benchmarking technique is used to prepare the organization for the future challenges and upcoming opportunities in market. It is analyzed that in order to set up strong marketing plan, company needs to gauge its available resources and business opportunities available in market. It is analyzed that the business growth and sustainability of company is highly dependent upon the marketing plan and undertaken business promotional plans. JLL Company has already faced tough competition from its rivals in market. It will have to strengthen its business process by investing more capital in its research and development department (Horstmeier, 2015).
It is the analysis which is used to gauge the strength, weakness, opportunity and threats in market.
Strength- It is analyzed that company has set up strong brand image in market. The main strength of company is related to its research and development department. JLL Company has invested USD $ 122 million capital in its business with a view to promote innovation and creation in its business. Global Cam Network plan undertaken is also one of the PR services program which allows company to strengthen its communication n network program in its all the business units. In addition to this, more than 40% of its employees are highly trained and experts who undertake proper strategic program. These employees will assist organization to manage their business with a view to set up strong core competency in cost leadership and product differentiation strategic program (Anthonisz, and Perry, 2015). It is analyzed that company needs to focus on identifying the potential market requirement and how company could attract clients for its newly offered products and services (Horstmeier, 2015).
Weakness- The main weakness of company is related to its compliance program. IT has faced high penalties due to its high compliance issues. It is analyzed that professional services of the real estate and investment management covers IT and real estate rules and regulation which needs to be complied by organization to mitigate the regulation compliance issues. However, company needs to invest more capital in setting up new compliance program to comply with all the applicable rules and regulation. In addition this, with the ramified changes in economic, re-engineering of its value chain activities are required which increase its business costing in long run (Kaleka, and Morgan, 2017).
The marketing activities of the company are based on the undertaken promotional activities. JLL Company has used loyalty card and social media approach to promote its business. However, if it wants to increase its overall market share then it will have to use online cyber computing enterprises resources planning system which will assist in grabbing the potential clients in market. These will assist organization to promote its business and set up online business channel communicate with the clients. The marketing plan is accompanied with the several promotional activities which will assist in mitigating the business issues and problems. In addition to this, it will help in attracting more clients and strengthen the overall turnover of organization. These activities is related to use of social media, online business promotional program and implemented strategic program which company needs to take for implementing the proper strategic programs (Meyer, Neck, and Meeks, 2017). It is analyzed that company needs to use the advance technologies and cyber computing system to promote its business online and strengthen the attraction of its offered products in market (Dybskaya, and Vinogradov, 2018). This promotional strategic program will assist JLL Company to expand its business in its existing and new markets as well. It provides the market expansion and growth of the business by following the diversification and market development program. In addition to this, with the use of advance technologies, company could easily win over the existing rivals by set up the strong nexus between its business units
It is analyzed that managers could easily develop effective strategic capabilities for company if it uses the proper strategic intents and required internal and external data. It is considered that if company has faced high competition in its market due to the advancement of the technologies and ramified economic growth (Hitt, and Duane Ireland, 2017). Managers needs to understand that perception, values, choice of actions and other details of the clients so that they could easily customize the products and services with a view to satisfy clients and need in market. However, Mangers firstly needs to collect the required data and after that assessment of the business capabilities and resources should be to done to make the improvisation of the business process to pave with the existing demands and need in market (Vallecilla, et al. 2015). Mangers are the person who takes all the key imperative decisions. However, in order to develop strategic capabilities fro company they takes several decisions. In case of JLL Company, it is analyzed that if company wants to win over the market then it will have to use the diversified business strategies. This strategy will be very much useful for company to create value on its investment. JLL Company has strong brand image on international level. By using the diversifying strategy, company could easily tap the new market on the basis of its strong brand position in market (Sakas, Vlachos, and Nasiopoulos). It will not only increase the overall turnover but also increase the overall return on capital employed as well. Nonetheless, managers could also easily identify the future problems and issues at spot and by using their strategic intents they could easily avoid the possible issue and losses of business (Chong, and Olesen, 2017).
JLL Company should focus on market expansion strategy to expand its market share. It will assist organization to increase the overall turnover. With the changes in market factors, company should focus on following several strategic programs such as merger, amalgamation, acquisition and strategic alliance to expand its business on international level. In addition to this, managers need to focus on hiring more expert employees who could undertake creative strategic program to expand its business through IT system and cyber computing methods. It will assist organization to set up strong communication among employees.
Conclusion:
After analyzing all these details and internal business process system of JLL Company, it is inferred that company has used the strong marketing approach to increase its positioning in market. The use of advance technologies and system process have assisted organization to manage the business effectively and implementing the strategic approach in the business process. By using the social media and online cyber computing, company is easily positioning itself in clients market and increasing the attraction of its offered products and service. It will not only strengthen the overall turnover but eventually increase the return on capital employed at large. Now in the end, it could be inferred that company needs to increase its investment in its research and development department to promote innovation and creation in its business process system. It will assist in creation of the business synergy but also add value for the effective business system at large.
References:
Alvarez-Rodríguez, J.M., Vafopoulos, M. and Llorens, J., 2015. Enabling policy making processes by unifying and reconciling corporate names in public procurement data. The CORFU technique. Computer Standards & Interfaces, 41, pp.28-38.
Anthonisz, S. and Perry, C., 2015. Effective marketing of high-rise luxury condominiums in a middle-income country like Sri Lanka. Journal of Work-Applied Management, 7(1), pp.61-83.
Chong, J.L. and Olesen, K., 2017. A Technology-Organization-Environment perspective on eco-effectiveness: A Meta-analysis. Australasian Journal of Information Systems, 21.
- McCarty, T. and Gottschalk, D., 2014. Capabilities of the new strategic organization. Journal of Corporate Real Estate, 16(4), pp.290-298.
Dybskaya, V.V. and Vinogradov, A.B., 2018. Promising Directions for the Logistics Service Providers Development on the Russian Market in Times of Recession. Transport and Telecommunication Journal, 19(2), pp.151-163.
Ferreira, T.M.S., 2015. Internationalization Strategy of Labirinto Shoes to Tokyo, Japan (Doctoral dissertation).
GOH, C., 2015. The power of technology in CRE data and analytics.
Hitt, M. and Duane Ireland, R., 2017. The intersection of entrepreneurship and strategic management research. The Blackwell handbook of entrepreneurship, pp.45-63.
Horstmeier, C.A.L., 2015. Managing identification at work: toward an integrated approach to identifcation.
JLL Company, 2017, annual report. [online] available at https://www.jll.com/InvestorPDFs/JLL-2017-Annual-Report.pdf, [Accessed 14th/07/18]
Kaleka, A. and Morgan, N.A., 2017. How marketing capabilities and current performance drive strategic intentions in international markets. Industrial Marketing Management.
Kämpf-Dern, A. and Pfnür, A., 2014. Best practice, best model, best fit: Strategic configurations for the institutionalization of corporate real estate management in Europe. Journal of Corporate Real Estate, 16(2), pp.97-125.
Kioko, W., 2017. Factors Affecting the Success of Outsourcing Strategy in Kenya’s Banking Industry (Doctoral dissertation, United States International University-Africa).
Meyer, G.D., Neck, H.M. and Meeks, M.D., 2017. The entrepreneurship?strategic management interface. Strategic entrepreneurship: Creating a new mindset, pp.17-44.
Petrulaitiene, V. and Jylhä, T., 2015. The perceived value of workplace concepts for organisations. Journal of Corporate Real Estate, 17(4), pp.260-281.
Sakas, D., Vlachos, D. and Nasiopoulos, D., 2014. Modelling strategic management for the development of competitive advantage, based on technology. Journal of Systems and Information Technology, 16(3), pp.187-209.
Vallecilla, K.K.M., Arts, B.V., van der Borgh, W.M. and Schepers, J.L.L., 2015. The buying and selling process at the top and bottom of the pyramid in the Brazilian smartphone market.
Vitasek, K., Fenn, I. and Flynn, M., 2018. Choosing the right sourcing model for CRE outsourcing agreements. Corporate Real Estate Journal, 7(3), pp.277-289.
West, D.C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive advantage. Oxford University Press, USA.
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.
Chong, J.L. and Olesen, K., 2017. A Technology-Organization-Environment perspective on eco-effectiveness: A Meta-analysis. Australasian Journal of Information Systems, 21.
Ghani, E.K. and Tarmezi, N.A.M., 2016. The Effect of Corporate Disclosure Guide on Information Disclosure among Malaysian Public Listed Companies. International Journal of Academic Research in Business and Social Sciences, 6(9), pp.362-376.
Gulati, R., 2010. Reorganize for resilience: Putting customers at the center of your business. Harvard Business Press.
Nanjala Wabwile, L. and Namusonge, G.S., 2017. Determinants of Outsourcing as a Competitive Strategy in Supply Chain Management of Manufacturing Companies in Kenya (A Case Study of East African Breweries Limited).
Tatarynowicz, A., Sytch, M. and Gulati, R., 2015. Scaling: Organizing and Growth in Entrepreneurial Ventures. Academy of Management Annals, 11, pp.640-668.
Vitasek, K. and Fenn, I., 2017. Vested outsourcing in corporate real estate and facilities management. Corporate Real Estate Journal, 6(4), pp.323-335.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
