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Help me to prepare 3mins presentation for a group reportYou need to write presentation draft of what I am exactly saying and few slide PPT. No references needed.Please note this presentation is to describe my contribution of our group report which is the 6th point The objective and competitive strategy of Foleo GroupPlease read the report very carefully and finish the draft and PPT accordingly.Thank you! group_d_research_report_final_version.docx Unformatted Attachment Preview ACCG3001 Group Research Report Group D: Foleo Retailing NZ (Strategy of growth: Related Diversification) Tutor: Elaine Ren Foleo Tablet 1. Executive Summary Foleo Group is contemporarily utilizing the latest technology to give the tablet giants, Samsung Galaxy, and IPad a stiff competition in the technology industry. Foleo group has conducted adequate research to establish its potential competitors to install strategic measures such as customization of its Foleo tablets to suit particular target markets. This term paper highlights the multiple techniques that Feleo Group is establishing to win a significant market base in the highly competitive field of technology. The paper assesses the external factors such as political and economic factors that may impact the Foleo Groups operation in the production of its Foleo tablets. The Porter Five Method has also been incorporated to assess a variety of factors that may impact the Foleo groups operation in the production of its Foleo tablets. The primary aspects discussed comprise of the threats new market entrants pose to the industry and the bargaining power of both buyers and suppliers. The paper also provides a detailed analysis of how the strategies proposed by Foleo Group will be aligned with the current goals and other objectives of the organization. A detailed analysis of how the proposed approaches will impact the different stakeholders is also presented. The project concludes by stating a variety of methods that will be used to measure the performance of Foleo tablets in the market and the presentation of smart recommendations. 2. Table of Contents Introduction ................................................................................................................ 4 The actual initiative being propose ........................................................................... 5 An analysis of the external environment of Foleo Group Limited using Porter’s 5Forces Model.............................................................................................................. 5 An explanation of how the proposed initiative aligns with the current goals and strategies of the organisation ..................................................................................... 7 Evidence that the proposed initiative will be viable for Foleo Retailing NZ ............ 8 An analysis of the likely impact of the proposed initiative on the below stakeholders .............................................................................................................. 10 An explanation of how performance will be measured – specific measures should be presented in a Balanced Scorecard and examples of useful/appropriate reports should also be suggested .......................................................................................... 11 Conclusion .............................................................................................................. 15 Recommendation .................................................................................................... 15 References ................................................................................................................ 16 3. Introduction Foleo Retailing New Zealand business proposal is outlined for the expansion of Foleo Group’ existing business unit. The business proposal focuses on the related diversification of the progressive strategy for Foleo’s development. The relevant diversification will be assessed through the initiative to introduce a new product line for Foleo Retailing NZ, Foleo Tablet. Foleo Retailing NZ is a division of Foleo Group which operating in the sale and distribution of products on the market. Introducing the Foleo Tablet as a model tablet gives opportunity for the whole firm to improve their brand image in New Zealand and the global. The purpose of the report is to reflect, analyse on how Foleo Tablet will be beneficial for Foleo Retailing NZ. The company’s strategies and objectives are defined to ensure that Foleo tablet is consistent with the same goals of Foleo Group. 4 4. The actual initiative being propose The best opportunity to achieve the goal of long-term profitability and sustainability is to introduce a technology product in the target market. Foleo NZ Retailing has decided to introduce a new tablet with additional features in the target market that are not launched in the market yet. However, it is important to assess the external environment for existing tablet providers in the target market, that is New Zealand. Apple Inc. offers valuable tablets in different international markets, including New Zealand. Therefore, the current document entails the opportunities and risks for tablet manufacturers in this specific market or industry that we should consider those factors in introducing a new tablet in the competitive market. 5. An analysis of the external environment of Foleo Group Limited using Porter’s 5- Forces Model (NB: each force examined should relate to the Foleo Retailing NZ business unit’s specific circumstances, e.g. it should analyse the bargaining power of Foleo Retailing NZ’s buyers, etc.) Porter’s five forces model is used to evaluate and assess the external factors for tablet manufacturers in New Zealand. Threats of New Entrants The threats of new entrants are high in the New Zealand technology market. The considered factors are low price and value proposition. The information shows that new tablet providers should offer products at low prices to encourage and motivate target customers. Although brand reputation and market share of existing companies are high, the competitive pricing strategy will be feasible to attract the target audience (Howard Wearing, 2019). Therefore, it can be said that Foleo NZ Retailing will achieve the goal of future growth by working exclusively on these two factors. Bargaining Power of Suppliers The bargaining power of suppliers is high in the New Zealand tablet market due to the presence of dominating suppliers. The suppliers are in a position to influence or pressurize technology companies to cut their margins by supplying raw materials at high prices (Zaman, et al., 2019). It 5 is the main risk that Feleo NZ Retailing cannot ignore, and should focus on strengthening relationships with dominant suppliers. Bargaining Power of Buyers The bargaining power is high in the target market due to the rapid increase in the demands and preferences of users. Technology companies allocate a high amount to research and development that they can identify the core needs of consumers (Pawson, 2018). Therefore, Foleo NZ Retailing requires to research for consumer preferences. Furthermore, the aim of the company is to introduce new tablets with additional features. The strategy is workable only when the marketing team of this company have complete or substantial knowledge of the demands of consumers. Threats of Substitutes The threats of substitutes is high in the competitive market of New Zealand. The main reason for this claim is the existence of giant of the industry that is Apple Inc. The existing tablet selling companies have a high market share and brand recognition in this market (Mukbaniani, et al., 2019). Therefore, Feleo NZ Retailing may face the issues of creating a competitive position in this market. However, the pricing, sales, and marketing strategies will enable this company to reduce the effect of available substitutes in the target market. Competitive Rivalry The competition is high among existing players in this market based on their quick response to the core needs of customers. The existing companies compete by implementing effective and goal-oriented strategies to retain their market position (Mukbaniani, et al., 2019). However, Foleo NZ Retailing can create its place in the competitive market by offering differentiated and innovative products. It is discussed earlier that buyers in the New Zealand market demand for advanced technological products. Therefore, it is the best opportunity to grab the attention of the target customers, even in the competitive market. 6 6. An explanation of how the proposed initiative aligns with the current goals and strategies of the organisation. This explanation should include: i. an identification of the corporate mission and objectives of Foleo Group Limited, and ii. an identification of the current generic competitive strategy of Foleo Retailing NZ. The value proposition is the primary proposed strategy that the Foleo Company bases on in the manufacture and distribution of their world-class Foleo tablets (Oliemat, Ihmeideh, & Alkhawaldeh, 2018). In a quest to establish a mission statement that announces the Foleo Group objectives and goals in the technology field, the most appropriate mission the organization selected is “manufacturing unique technologies that are yet to be seen in Australia and the rest of the world. Thus, Foleo Group has acquired professional technology experts to fulfill its mission statement of designing sleek Foleo tablets. The objective of the Foleo Group The technology industry is one of the most competitive sectors globally. The technology sector always has new entrants in the market who invent new technologies to outclass their rivals and surpass current customer expectations. The increased innovation, Foleo Group, has established a variety of objectives to support its overarching mission for its customers – manufacturing of unmatched Foleo tablets. The Foleo Group has embarked on independent market research to assess the needs of the numerous clients who are currently unsatisfied with the existing tablet design, performance, and distribution (Arafat et al., 2018). Using the research, the organization intends to tap the unhappy customers with custom products. Some of the primary objectives that the Foleo Group has installed comprise of customization of the technology network to fit the needs of every market. Foleo has already customized a variety of technologies to suit different needs of different markets, such as the Australian market (Oliemat et al., 2018). The other objective that Foleo Group has initiated is the production of unique technologies to support its mission statement of availing unique technologies to its clients globally. The organization also aims at leading the technology industry by pioneering innovation of unique techniques. Foleo also aims at expanding its current market share. In a bid to increase the market share, Foleo Group has initiated a variety of marketing strategies, both digital and traditional, to reach out to a broad market base. 7 Competitive Strategy for Foleo Group The stiff competition in the technology industry requires strategic measures to gain a competitive advantage in the market. Contemporary the primary competitors to Foleo tablet comprise of Samsung Galaxy and IPad. The two rivals have been in the technology industry for more extended time compared to Foleo Group (Oliemat et al., 2018). The two rivals have a variety of aspects that give them the advantage of having a significant market share in the tablet manufacturing industry. Contemporary, Apple is the technology leader in the production of quality tablets (Arafat et al., 2018). The innovations of Apple have consistently disrupted the technology markets. Foleo will seek to understand the type of technology innovations and inventions that Apple uses and improve the techniques to produce quality products that rival Apples market dominance in the tablet industry. Samsung is currently the second biggest rival that Foleo Group faces in the technology industry. Samsung has been in the technology market for approximately five decades (Oliemat et al., 2018). Thus, it has extensive experience in the manufacturing and distribution of the tablets to different clients globally. Samsung has comprehensive knowledge of the demand and supply curves of the tablet products. Foleo will primarily seek a variety of measures to help the firm cut the vast market for the two primary rivals in the technology industry (Arafat et al., 2018). The entrance of the Foleo tablets will significantly restructure the customer bases of both Apple Company and Samsung. Foleo is primarily focusing on the first impression with sleek designs and quality products to facilitate easy market win for the organization. 7. Evidence that the proposed initiative will be viable for Foleo Retailing NZ. This section should include: i. an explained example of a relevant ‘real-life’ company that has successfully introduced a similar growth initiative as that being proposed, and ii. reference to at least one academic journal that supports the initiative being proposed The business proposal initiative of the Foleo Retailing NZ to produce Foleo Tablets is followed by the success of Apple Inc. Apple Inc invested in the growth model of related diversification. They firstly introduced the Mac computers, before expanded their new products into market such 8 as iPod, iPhone, iPad, and Airpod. Related diversification has shown Apple’s revenue growth, not only relying on iPhone as before, their other products also gain a foothold in the market (Yarow 2018). The development of Apple shows a clear increase in profits when they applied this strategy to the iPad. A statistic published by ‘Statista Research Department’ indicates that until 2018, they sold 425 million iPad, released eight versions, and earned more than 19 billion U.S dollars. Released eight different models of iPads and many features like Apple Pen two versions which are unique for iPad, it shows that this is a truly proud and success product of Apple. The introduction of these products especially iPads has made Apple is one of the leading electronic organisations in the world. Rumelt (1974, 1982) argued that “related diversification produces superior performance as opposed to unrelated diversification”. The theoretical basis for this argument is that related diversification will allow the effective transfer of core competencies such as product lines, knowledge, skills, and experience into the target business (Penrose, 1959; Rumelt, 1974). Related diversification can enhance firm performance because it can take advantage of the existing market knowledge and products line. Hence can target to the current market to efficiently expand the product line while minimising costs for developing the new system or researching the new market and reducing risks. Furthermore, it allows clients to synchronize in the same operating system which is easier and more convenience for users. The introducing of this tablet can essentially bring a good result in a firm’s performance in the future. The example of iPad and the beneficial of using the related diversification strategy has inspired our team. As a team of consultants, we plan a project to expand Foleo Retailing NZ to introduce a Foleo Tablet which easily connect with other versions of Foleo Fones. Besides, we also focus on users demand for the tablets, their convenience and price. In 2021, they published that there were 1.28 billion users of tablets, declined 8.6 percent, to compare with Q3 2018. The reason could be the price of tablets, such as iPad or Galaxy notes, these two well-known brands, are increasing after each version. We can take advantage to produce an affordable price tablets, which is generally lower than iPads or Galaxy Notes. We also provide a price survey and rely on it to offer an appropriate price to target on low- and middle-income clients. In the future, if Foleo Tablet can take the opportunity to become the most tablet distributor with low price, we believe that our organisation can be a top seller tablet. 9 8. An analysis of the likely impact of the proposed initiative on the below stakeholders: 1. Customers 2. Suppliers 3. Competitors 4. Employees 5. Shareholders 6. The community in which Foleo Retailing NZ operates. Related diversification impact on selected stakeholders: Foleo group’s new strategy will be focusing on breakthrough the bottleneck and find out the best way to develop its market share within the telecommunication/electronic industry. The organisation aims to achieve the goal by inspiring and learning from other similar industries such as apple. However, with the improvement of the new regime, it is unavoidable to encroaching or enhancing someone’s interest. Consequently, it is necessary to collating stakeholders’ feedback and increasing their satisfaction. Customers The largest group of stakeholders who benefit from our revolutionary application and product will be the customers. The new system will assist consumers in becoming well-served and having better experiment. Additionally, the combination of related product and advanced functions will give customers different experience. On the other hand, the consumers are natural reagent of the revolution by giving their own feedback to official platform. The market department will receive the feedback from customers and test their level of competency and hand over to R&D department to make improvement. Employees Similar to customers, employees display an important role through the revolutionary. employees can develop their skills and work experience from related diversification strategy. It is an opportunity to make contribution to the company and realized their own value. During the period company make revolution on the new strategy, they need to deal with the customer problems and participate in new application development. This is the time for employees show their abilities to 10 management and superior leaders and create company culture. Moreover, the feedback from customers will be read and giving suggestion to their leaders and inject new blood to the company. Suppliers The development of new product and application will also impact the related supplier of the company. The new material and different number of orders will influence supplier’s plan of production and operation. However, it might take better interest into the business. Thus, it is necessary to make announcement after new strategy has well planned. Competitors The revolution of the new technic and application will significantly impact the competitors in relation to becoming more threatening to their market shares and interest. Thus, Foleo group has to prevent copy and exposure of information about the revolution outside the organisation. Shareholders The shareholders are likely to see that the Foleo group can make improvements on their new application which would dramatically increase the value of share. However, they need to take the risk that the revolution failed. Thus, each of the shareholders would have different view on the new growth strategy. The community in which Foleo Retailing NZ operates. The initiative of extension would have a positive impact on the Foleo group community. It is reasonable to meet new members through the development and which would introduce more advantages of this revolution and provide consideration support to other members. 9. An explanation of how performance will be measured – specific measures should be presented in a Balanced Scorecard and examples of useful/appropriate reports should also be suggested. The Foleo retailing New Zealand business unit in relation to the Foleo tablet measures its performances in many ways in order to evaluate performances in order to meet our organisation objectives. In our organisation, we take performance measures very seriously as it helps and 11 guides our organisation to the right direction. It also helps our organisation monitor report accomplishments as well as provide signals on areas that need improvement. However, the major advantage of measuring performance in our organisation is that it compares our performance with our targets and takes corrective action if needed. The reason why me ... Purchase answer to see full attachment