Global Strategy of Eastcompeace Smart Card Company, Ltd Dissertation

Pages: 37 (11516 words)  ·  Style: Harvard  ·  Bibliography Sources: 37  ·  File: .docx  ·  Level: Master's  ·  Topic: Business

Eastcompeace: Strategic Management

Data Presentation, Findings & Analysis

Recommendations & Management Implication

The smart card industry is one of the most lucrative industrial sectors in the world. This is because the lack of competitiveness and margin of innovation existing in this particular industry. From a sim card in a cellular phone to high tech and sophisticated security systems, the smart card industry covers it allThis makes it a highly price inelastic industry, which in turn means, that smart card producers have an edge to play with the prices the way they want to. On the other hand, the critical and sensitive nature of product that the smart card industry deals with demands immense level of continuous research and development so that the smart cards can be kept up-to-date with the changing needs of time. Moreover, the smart card industry requires as highly specialized, skilled and trained staff with relevant expertise. This makes the smart card industry a highly capital intensive one.

Eastcompeace is one of the oldest names in the smart card industry and is known for its continuous growth due to constant research and development. It is known for its strong presence in the market related to technology sector goods. The product line of Eastcompeace covers various smart card products and solution providing services pertaining to mainly B2B sectors such as health, security, credit cards etc.

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Over the years, the smart card industry has become extremely competitive. One primary reason behind this has been an increase in academic researches and technological advances. This has made the smart card industry surrounded with active internal and external influences.

Dissertation on Global Strategy of Eastcompeace Smart Card Company, Ltd. Assignment

The paper discusses and evaluates internal and external influences that have had an impact on Eastcompeace over the years on both micro and macro level. The five force analysis shows that external competition and threats of counterfeit is increasing. Eastcompeace has handles the issue of counterfeiting and well through extensive research and development. On the other hand Eastcompeace has failed to adopt a strong marketing strategy that can enable it to position the firm as a brand and as a result smaller competitors are having an edge on the marketing side.

The fitness landscape analysis shows that Eastcompeace is very rigid and inflexible as far as organization's internal culture is concerned. Decision making is accumulated with the to management only and the skilled workers have little participation in the company. Eastcompeace, thus will need to be more flexible with the changing management practices in the external corporate world.

Eastcompeace's sustainability framework shows that the company has a comprehensive structure in place for waste management. It has comprehensive and detailed Environmental, technology and safety program that aims at ensuring that minimum chemical inputs and by products are involved in the research and production process and the waste is properly recycled before disposal.

On the operational side, Eastcompeace is consistent with the sustainability needs of smart card industry. However, as far as management practice is concerned, Eastcompeace will need to be more flexible with its human resource management policies and will have to revisit the marketing policies.

1. INTRODUCTION

With the advent of information technology, the ways different aspects of life work and operate have changed a great deal. Media has always had a great influence in moulding the culture of a society. There was a point of time when television and radio were invented and when computer was invented and there was little connection between the two. Time then travelled fast then through the age of cassettes, records, VCDs, DVDs, flashes drive and then the internet. Media also started to go satellite on a massive scale and there came a point of time when media and digital communication systems became closely integrated with one another, opening the dimensions to digital media. Digital media not only played immense role in supporting the entertainment industry, but also added a whole new dimension to and redefined how education system was imparted and businesses were operated. It also opens doors for new methods of employment. Digital Media is also now becoming an aggressive tool for marketing.

1.1 Background of Study

In the era of technological advancements where technology is all about getting speedier and portable the smart card technology has been a revolution in itself. The seemingly small plastic chips have massive applications in real life such as tracking systems, credit cards, security systems etc., and life without smart cards seem virtually impossible nowadays.

Eastcompeace is one of the world's leading names in the smart card industry. With a range of successful and well endorsed smart card products, Eastcompeace is known for its advanced Research and Development culture. It ensures that it keeps its products up-to-date with the needs pertaining to the technology sector in the current era.

This paper aims at discussing Eastcompeace's strategies towards sustainable development. It also evaluates the company's strengths and weaknesses that supports and hinders the company's aspirations to achieve its targets pertaining to the achievement of its sustainable development goals.

1.2 Problem Statement

As mentioned earlier, Eastcompeace is surrounded by active external and internal influences that have a key role to play in determining the company's strengths, weaknesses, opportunities and threats. Eastcompeace's main stake holders tend to be its employees, competitors, customers government and employees. Potential competition in the market require Eastcompeace to ensure that it keeps itself up-to-date with the latest researches and technological standards in order to survive in the market. Moreover, it also needs to take active measures to combat the increasing threat of counterfeiting, which again call for high investments. Increased technology consciousness among consumers rapid influx of competitors require Eastcompeace to invest more into the marketing aspect. Since skilled, trained, and motivated employees are one of the fundamental requirements for the success of a smart card business, Eastcompeace ensures that it recruits and retains the best teams of workforce.

Eastcompeace's adheres to academic and normative cultural practices as far as its business practices are concerned. It believes in the philosophy of giving importance to people, be it employees or customers. As mentioned earlier, the smart card industry is a highly capital intensive one around the world. Most company's focus on a limited few segments of the technology care needs, primarily because they cannot afford to satisfy it completely. Eastcompeace has managed to diversify on a large scale, thus diversifying its risk factor. By expansions, mergers and acquisitions, Eastcompeace now has a product line dealing with eleven different therapeutic segments of technology sectors in both human and animal related smart cards and smart cards.

Overall Eastcompeace adheres to sustainable business policies as far as research and development and production processes are concerned. On the other hand Eastcompeace is too inflexible when it comes to human resource management which might lead to losing out skilled employees to competitors in long-term. Eastcompeace's sustainable production programs ensure that the company minimizes emission of green house gases and increase recycling. Adherence to various waste management techniques and the policy of reusing by products and recycled products makes the firm more cost efficient as compared to its competitors and enables it to enjoy the economies of scale. This reduces the firms average cost and gives the company a higher competitive edge.

1.3 Purpose and Significance of Study

The purpose of this study is to evaluate the sustainable framework of Eastcompeace and to evaluate the global strategy that the firm currently adheres to in order to achieve its strategic growth.

Eastcompeace aspires to be one of the world's most valued companies to consumers, investors' employees and the community and the society at large. It believes in adherence to ethical business practices, highest professional standards and total quality management which ensures continued growth and innovation.

At Eastcompeace special focus is ensured on research and development, innovation and quality management. Unlike many major mainstream smart card giants, Eastcompeace has managed to stay free of corporate scandals. Over the years, it had managed to keep itself up-to-date with the changing needs and evolutions in the corporate management.

Eastcompeace adheres to the most sustainable business practices in the smart card industry. If the company becomes more flexible in terms of management and more innovative in terms of its marketing strategies and brand management, it is inevitable that it captures and maintains the greatest market share in the smart card industry.

The significance of this study primarily lies in the fact that strengths and weaknesses of the company performance and overall strategy are pointed out. Recommendations are made on grounds of information analyzed, in order to bring in further improvement and propose a stronger sustainable management system.

1.5 Research Aims & Objectives

The aims and objectives of this research are given as follows:

To evaluate the long-term strategies of Eastcompeace and to evaluate the degree to which the strategies are sustainable.

To assess the firm's strategic growth and expansion.

To assess the global strategy of the firm in parts of the world that it is already operating and in parts where it plans to operate.

To evaluate overall strategic… [END OF PREVIEW] . . . READ MORE

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