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ChatGPT is a tribute to the extraordinary advancements made in natural language processing in the dynamic field of artificial intelligence. ChatGPT, created by OpenAI, leverages the GPT-3.5 architecture’s capability while breaking down barriers and redefining how humans engage with technology. As we explore ChatGPT’s capabilities, it becomes clear that its influence goes beyond simple communication.
The Birth of
ChatGPT:
ChatGPT is the result of OpenAI’s unwavering quest to improve language models. The GPT (Generative Pre-trained Transformer) architecture is at its foundation and represents a substantial advancement in natural language generation and comprehension. ChatGPT has been trained on various datasets and has learned different linguistic nuances, allowing it to reply contextually and produce human-like text.
Conversational
Mastery:
At its core, ChatGPT is a master of conversation. It has risen to the top of applications like customer care and virtual assistance due to its meaningful and contextually appropriate communication capacity. Businesses use ChatGPT to speed up client interactions, give quick and precise answers, and improve user happiness. By linking the road between humans and machines, ChatGPT-powered virtual assistants enable fluid and natural interactions.
Extraordinary Writing
Companion:
Content producers, rejoice! In the field of writing, ChatGPT has become a crucial ally. ChatGPT contributes its unique flair to the writing process, whether for articles, blog posts, or marketing copy. Beyond simple grammar checks, the writing helper can actively participate in ideation, suggest changes, and stimulate the creative process. ChatGPT also offers comfort to programmers because it generates code snippets from descriptions in plain language, speeding up the coding process.
Educational
Empowerment:
With the introduction of ChatGPT, the educational landscape underwent a paradigm shift. No longer do students battle alone with homework problems or complex subjects. As a substitute for a real tutor, ChatGPT provides specialised guidance and explanations. The concept offers a dynamic platform for learners to practice conversational skills, receive immediate feedback, and improve their linguistic ability. This dynamic platform has excellent promise for language learning.
Developing Creativity: ChatGPT is a precursor to creativity, not limited to practical problems. ChatGPT turns into a partner in ideation for individuals struggling with the elusive spark of inspiration. ChatGPT injects a fresh stream of inspiration, working as a catalyst for invention, whether you’re a writer looking for new plot twists or an artist wishing for a fresh visual perspective.
Facilitating
Information Retrieval and Research:
ChatGPT is a valuable ally for academic and research settings. Due to its skill in information summarisation, sorting through big datasets is now a simple task. Researchers and students can use ChatGPT’s capacity to condense complicated information into summaries to accelerate the process of knowledge acquisition. The competence to quickly and precisely respond to user inquiries through the question-answering feature furthers the research procedure.
Ethical Considerations
and Challenges:
As we look at ChatGPT’s powers, discussing the ethical issues and problems associated with its use is essential. After being trained on various datasets, the model replicates the biases found in the data it learns from. Researchers and developers struggle to eliminate biases to guarantee equitable and fair interactions. Worries about the potential abuse of AI-generated content and the demand for strong security measures further highlight the ethical issues surrounding ChatGPT’s widespread use.
Future
Perspectives:
ChatGPT’s journey is far from over; it is only getting started. ChatGPT also develops along with technology. In subsequent iterations, contextual comprehension, problem-solving skills, and understanding of user intent can be improved. AI-human collaborations are anticipated to become more intense, establishing a relationship where the strengths of both parties are combined for optimal effectiveness and innovation.
Conclusion:
As a transformational force reshaping how we navigate the digital world, ChatGPT appears in the great tapestry of artificial intelligence as more than just a conversational agent. Its applications, from improving consumer interactions to encouraging creativity and advancing education, demonstrate its adaptability. But with great power comes great responsibility, and ChatGPT’s ethical issues serve as a timely reminder of the need for caution when using it. ChatGPT serves as a lighthouse, exposing the limitless possibilities that lie ahead, waiting to be explored and used for the benefit of humanity as we travel the vast landscape of AI.
Keyword: ChatGPT, Artificial Intelligence, Content Creation, Creativity, AI Human Collaboration, Education, Tutoring, Ethical Considerations
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Introduction In academia, the culmination of a student’s academic journey often ends with creating comprehensive and unique research, known as a thesis. This landmark project requires rigorous research, critical analysis, and good writing skills. However, the demanding nature of this business has led to the rise of thesis writing services, which support students to write high-quality dissertations. This article inspects the role and impact of dissertation writing services, exploring their benefits, ethical considerations, and contributions to the academic landscape.
Benefits of dissertation writing service Dissertation writing services have grown in popularity for various reasons, mainly due to the benefits they provide to students who face challenges in the research and essay writing process. One of the most important benefits is access to a group of experienced and qualified academic writers. These experts have subject matter expertise and experience in conducting in-depth research, ensuring that the thesis content is knowledgeable and trustworthy. Also, time management is an essential aspect of college life. Multiple responsibilities, such as classes, part-time jobs, and personal commitments, can be overwhelming. The thesis writing service eases this burden by providing prompt support, allowing students to meet deadlines without compromising the quality of their work. In addition, these services often offer revisions, allowing students to refine and perfect their thesis based on the feedback received.
Ethical considerations Although thesis writing services provide valuable assistance, ethical concerns have arisen regarding their use. Critics argue that using such services could undermine principles of academic integrity and hinder students’ personal growth. It is essential to distinguish between ethical and unethical use of these services. Ethical use involves seeking expert advice, clarification, and understanding while maintaining academic autonomy and integrity. In contrast, unethical use involves submitting purchased or plagiarised content as one’s content. Educational institutions are taking steps to address these concerns. They emphasise the importance of learning and developing writing and research skills and guide the appropriate use of external support. Students can benefit from dissertation writing services without compromising their ethical responsibilities.
Contribution to the academic context The thesis writing service has significantly contributed to the academic landscape by fostering a collaborative environment between students and professionals. These services act as a bridge between theoretical knowledge and practical application, allowing students to gain a better understanding of empirical research methods and academic writing conventions. In addition, dissertation writing services have led to diverse perspectives and knowledge dissemination. Experts from a variety of fields contribute their expert opinions, resulting in the creation of briefs that explore unique angles and innovative ideas. This enriches the academic discourse and contributes to advancing knowledge in various fields.
In addition, these services have helped international students overcome language barriers and adapt to the nuances of academic writing in a new language. By receiving guidance and support from experienced writers, these students can confidently present their research clearly and consistently, enhancing their work quality. Conclusion Dissertation writing services have become invaluable allies for students who undertake the complex task of writing a thesis. Their benefits regarding academic support, time management, and skill development are clear. However, students must use these services ethically and responsibly, adhering to the principles of academic integrity. As the educational landscape continues to evolve, dissertation writing services will likely play an essential role in shaping the future of academic research and knowledge dissemination. Keyword: Dissertation writing service, academic support, time management, qualified academic writers, expert advice
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Introduction Behavioral finance studies focus on the psychological and cognitive aspects of investor decision-making. It acknowledges that investors are not always logical and that feelings, prejudices, and heuristics can impact their decisions. This article explores the field of behavioral finance, covering significant discoveries and perceptions from theses, dissertations, and research publications. We can better understand the influence of behavioral factors on investor decision-making by reviewing the available literature. Emotions and Investor Decision-Making The influence of emotions on financial decisions has been the subject of numerous research. For instance, Smith and colleagues (2018) published a dissertation titled “The Influence of Emotional States on Stock Market Participation.” According to the study, investors who feel good about themselves are more willing to take risks and participate in the stock market. On the other hand, unfavorable feelings like dread or worry might cause risk aversion and market withdrawal. This study emphasizes the significance of emotions in influencing investment decisions. Cognitive Biases and Heuristics Cognitive biases and heuristics highly impact investor decision-making. A study by Johnson (2019) titled “The Impact of Cognitive Biases on Stock Market Trading Behavior” looked at how biases like confirmation bias and overconfidence impact trading behavior. The study found that people frequently look for facts to support their preexisting opinions, which results in poor investing decisions. In a similar vein, overconfident investors often undervalue risks and act rashly. For investors and financial professionals to make better decisions, it is essential to understand these biases. Herd Mentality and Investor Behavior In the financial markets, the herd mentality phenomenon is common, and investors frequently make decisions based only on the opinions of others. The impact of herd behavior on asset prices was examined in a research article by Li and Smith (2020) titled “The Impact of Herd Behavior on Asset Prices.” According to the study, investors who follow the herd tend to ignore fundamental valuations in favor of imitating others, which can result in price bubbles and market inefficiencies. Investors must be aware of the impact of herd behavior to prevent making illogical investing choices and to keep a long-term perspective. Prospect Theory and Risk Perception The prospect theory, created by Kahneman and Tversky, stresses how people assess and perceive risks. How prospect theory affects investment decisions were addressed in Brown’s 2017 dissertation, “Prospect Theory and Investment Decisions.” According to the study, people tend to be risk-averse when there are potential rewards but risk-seeking when there are likely losses. This research implies that how investment options are presented to investors affects their risk tolerance. Investors can estimate risks more correctly and make better logical decisions by being aware of these biases. Conclusion The many ways in which human behavior deviates from the conventional economic theory have been highlighted by behavioral finance. Emotions, cognitive biases, herd mentality, and perceptions of risk heavily influence investor decision-making. We have learned much about these behavioral characteristics and how they impact investment decisions by looking at dissertations, thesis, and research articles. Understanding these psychological dynamics can help investors and financial experts make more educated, logical decisions, improving long- term investment results. Keyword: Rational decision-making, Behaviour Finance, Heuristics, Dissertation, Thesis.
References: Smith, A. (2018). The Influence of Emotional States on Stock Market Participation. (Unpublished doctoral dissertation). University of XYZ. Johnson, B. (2019). The Impact of Cognitive Biases on Stock Market Trading Behavior. (Master’s thesis). ABC University. Li, C., & Smith, J. (2020). The Impact of Herd Behavior on Asset Prices. Journal of Behavioral Finance, 25(4), 345-365.
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Change Management Strategies for Digital Transformation: A Comprehensive Overview Organizations increasingly embrace digital transformation projects to stay competitive and foster innovation in today’s fast-changing digital market. However, as several Ph.D. thesis and dissertations demonstrated, digital transformation involves more than just implementing new technologies; it also entails a significant change in organizational culture, procedures, and mindset. The followings are some of the change management techniques covered in this article and their implications for successful digital transformation: Recognizing the Landscape of Digital Transformation: Organizations must first understand the complexities of the digital landscape to begin a successful digital transformation path. According to Johnson’s (2018) dissertation research, it’s critical to thoroughly review market trends, consumer preferences, and technology developments. This study emphasizes the importance of coordinating digital transformation goals with overarching company goals to ensure a purposeful and cohesive approach to change. Developing a Strong Vision: A compelling vision inspires Employees to accept and actively participate in the digital transformation process, which serves as a driving force. A clear vision that conveys the advantages of digital transformation to various stakeholders is essential, according to Brown’s (2019) Ph.D. thesis. To ensure a common understanding of the result, this vision should address the “what,” “why,” and “how” of the transformation. Creating Successful Communication Channels: During times of change, communication that is open and honest is essential. Smith’s dissertation (2020) strongly emphasizes the necessity for businesses to build efficient communication channels to share information, respond to employee problems, and get employee feedback. This makes it possible to develop a welcoming workplace that promotes teamwork, lessens resistance, and increases a sense of ownership among employees. Developing Change Leadership Skills: Leading change is essential for advancing digital transformation. In her doctoral dissertation, Martinez (2017) claims that effective change agents must have a particular set of skills, including strategic thinking, adaptability, and the capacity to motivate and empower people. Organizations should foster change leadership skills through training programs, mentoring, and coaching to achieve successful change implementation. Empowering Employees: The active participation and empowerment of employees are essential for the adoption of digital transformation to be effective. Organizations should concentrate on building a culture of ongoing learning and experimenting, according to Thompson’s work (2021), which Thompson references in her dissertation. This includes giving people the chance to receive training, promoting knowledge exchange, and identifying and rewarding innovative conduct. Employees that feel empowered are more likely to welcome change and advance digital efforts.
Managing Change Resistance: Organizations must actively manage resistance to change during digital transformation because it is a common human reaction. The need to determine and treat the underlying causes of resistance is emphasized in Davis’ (2018) doctoral dissertation. Assessments of a company’s preparation for change, the use of change agents, and employee participation in decision-making can all help. Resistance can also be reduced through open communication and benefits clarification. Conclusion: The complicated digital transformation process requires careful planning, carrying out, and managing. Organizations must implement effective change management techniques to lead organizations through the transformation process. Organizations can increase their chances of successfully navigating digital transformation by comprehending the digital landscape, developing a compelling vision, establishing effective communication channels, developing change leadership competencies, empowering workers, and managing resistance. Dissertations and Ph.D. thesis offer unique insights that can be used to create and practice effective change management methods in digital transformation. Keywords: Digital Transformation, Dissertation Writing Service, Academic Research Paper Writing Service, Thesis Writing Services, PHD Thesis Writing Services References: Brown, M. (2019). Crafting a compelling vision for digital transformation: Communicating the benefits to stakeholders. (Unpublished doctoral thesis). ABC University. Davis, L. (2018). Managing resistance to change during digital transformation: Identifying root causes and implementing strategies. (Unpublished doctoral thesis). MNO University. Johnson, A. (2018). Digital transformation: A comprehensive analysis of industry trends, customer demands, and technological advancements. (Unpublished doctoral dissertation). The University of XYZ. Martinez, R. (2017). Building change leadership capabilities for successful digital transformation. (Unpublished doctoral thesis). GHI University. Smith, J. (2020). Effective communication channels for navigating digital transformation: Addressing concerns and fostering collaboration. (Unpublished doctoral dissertation). DEF University. Thompson, S. (2021). Empowering employees for digital transformation: Fostering a culture of learning and experimentation. (Unpublished doctoral dissertation). JKL University. Wilson, T. (2022). An iterative approach and agility in digital transformation: Adapting to evolving market dynamics and emerging technologies. (Unpublished doctoral thesis). PQR University.
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1.1 AC 1.1 Explain the importance of strategic human resource management in organizations Strategic human resource management is related to the development of human resources strategies in synchronization with the mission, vision and objectives of an organization in a way such that the organization’s goals are accomplished. An organization should have the ability to frame such human resource strategies which will enhance the overall productivity of the organization (Durai 2010) . The strategic human resource management in Tesco has been like the backbone of the company in achieving success at the time of diversification into different sectors for business activities. The organization through its strategic HRM has been able to develop its business embedded with technical expertise, integrity and customer oriented globally (MacLachlan 2009) . For developing a vibrant strategic linkage of human resource with its corporate strategy the company had designed a transformational coaching programme for the growth and capability development of its mangers followed by an effective feedback procedure. The programme aimed at communicating business priorities of the organization to its personnel and building effective leaders as its competitive advantage (Churchard 2010) . In order to augment the customer value the organization invests highly on recruitment, employee’s training and infrastructures (TESCO 2012) . Tesco maintains a healthy relation with its union partner and believes in employee’s participative decision making process for the accomplishment of organizational goals (Wilton 2010) . With a change in organizational culture Dell has been able to build a strong position in the market. The company shifted its focus from just attaining growth to talent management, leadership building and framed global vision (Scott 2006) . Dell strives for building a competitive strategy for becoming a low cost player in the market. To have an alignment with
its business strategy the company renders its human resource services with the help of technology that is through web. Through the company’s intranet its HR team have been able to carry out various HR activities with the help of a variety of web applications such as hiring applications or tools, management reports, automatic employee reference system, updating of employee’s information to cite a few. This has helped the organization to increase the performance of its employees in many ways such as development in productivity, self-service, outsourcing as well as self-service. Along with these the company has been also able to reduce its cost of carrying out human resource operations as less manpower is required in performing automated activities and it is less time consuming as well (Gary & Varkkey 2010) .
1.2 AC 1.2 Assess the purpose of strategic human resource management activities in an organization (Siemens case study) The key purpose of developing a strategic human resource management is to have an alignment between the human resource strategies and organization’s business strategies. Such integration will help an organization in attaining sustainable competitive advantage. Integration in human resource signifies an alignment between the human resource policies and the policies of other business operations in an organization such as finance, informational technology, marketing, production to cite a few (Vedd 2003) . However, the purpose of designing a strategic human resource management is not only having an integration between HR and corporate strategy rather the aim is also to have an integration between decisions regarding the organization’s personnel with the expected output of the organization. An organization need to align human resource management with the corporate planning system, focus on the human resource activities that will help in the accomplishment of organizational goals and should undertake actions that will help in building strong personnel-management relationships (Dhar 2008) .
The main purpose of Siemens behind designing a strategic human resource management is to meet global challenges. Siemens operates in highly competitive technological market which is continuously developing which makes it imperative for the organization to have an effective HR strategy so as to develop and grow its personnel on continuous basis through frequent trainings. Various trainings imparted by the organization are like class room training, apprenticeship training to cite a few. The organization also organizes management development and education program so as to keep its employees up to date regarding the changing market trends and requirements. Siemens encourages global team work as part of its human resource strategy. The employees in the organization are expected to understand work and perform across every departments, disciplines and regions. The main purpose of Siemens behind such strategy is to enable its employees to handle multiple responsibilities in the global market and infuse a feeling of oneness and a vital part of corporate among its employees. In order to compete in the global market Siemens also redesigned its performance management system which constitutes of assessing its employee’s performance on regular basis followed by an effective feedback system. This will help its employees to augment their competencies and potentiality. The management will also be in a position to identify the existing competency gap and the remedial measures that needed to be taken to bridge such gap. The organization believes that in order to attain long term growth and increase shareholder value it is inevitable to build a motivated and satisfied human resource pool. Therefore Siemens provides career development and growth opportunities, fair compensation benefits, cordial work culture to cite a few to its employees by developing a strategic human resource policies and practices. This will in turn help the organization to prosper in the market. To gain success in the global market it is vital for an organization to have an effective cultural diversity management system. Therefore Siemens promotes a culture of transparency, openness and fairness in its organization to deal with the culturally diversified workforce in its system (Bhatia 2005) .
1.3 AC 1.3 Evaluate the contribution of strategic human resource management to the achievement of an organization’s objectives (Siemens case study) Siemens has repositioned as well as redesigned its organizational and human resource strategy which contributed significantly in meeting the business objectives. Siemens has divided its business strategy into organizational strategy and human resource strategy in which human resource strategy has been framed in alignment with the organizational strategy. While the business strategy of the organization was framed to augment the organization’s capabilities, the human resource strategy was framed in a way to guide the actions of the organization’s personnel and maximize the human potentialities so as to achieve competitive advantage. For an effective execution of human strategy the company has divided human resource activities into design and consulting services, service centres and strategy. The service centre of human resource is concerned with carrying out daily human resource functions effectively. The strategy and design division of human resource is responsible for conducting an external environmental analysis. Based on such analysis the group is expected to carry out the human resource activities such as recruitment, communications, and appraisal to cite a few in a way so as to have a considerable contribution on the organizational success. The consulting service group provides guidance to the organization in respect to the formation and implementation of organizational strategies (Chanda 2007) . The human resource strategy of Siemens consists of imparting frequent training and education to its personnel which is based as per the business requirements of the company for building and developing competencies of its employees globally. This strategy acts as a pillar of global success for the company (Siemens 2015a) . To have a strategic recruitment process
8 Siemens PLM software has strategic affiliation with various organizations to build up the future engineers, technologists and leaders. By this way Siemens will be able to recruit highly skilled and qualified personnel in future which will in turn enhance the quality of business of the organization hence leading to success (Siemens 2015c) . Siemens had realized that recruiting right candidate, imparting training and retaining talent is imperative to achieve success. Siemens therefore to have a valuable top-notch recruitment, compensation, employee development, performance evaluation and retention process to cite a few globally collaborated with the success factors solution. With these the organization has been able to standardize and integrate its human resource process. Collaboration with success factors solutions has enabled the organization to have global insight for growth and human resource planning. Through these cross border managers are being able to exchange information globally and take quality business decisions (Siemens 2015b) .
1.4 AC 2.1 Analyse the business factors that underpin human resource planning in an organization (Either dell or tesco) Human resource planning constitutes of application of planning procedure to the human resource requirements of a firm. In order to have an effective human resource planning the plan should be linked with the operational and strategic planning process of a company (Prasad 2012) . The main objective of a human resource planning is to motivate personnel in an organization, enhance customer experience quality and focuses on enhancing creativity, commitment and development in an organization. Human resource planning enables an organization in determining the future demand for labor as well so as to meet the projected needs of an organization (Deb 2006) . Various factors related to the external environment of an organization may influence the objectives of an organization and the human resource requirements to meet the organization’s
9 objectives. Some of the factors related to the business of an organization which acts as influencing factors are like governmental control, economic circumstance of a place, and prevailing competition in the market and changes in the labor force. Governmental control includes rules and regulation framed by the state or local government. Economic condition of a place implies the recession, inflationary condition, level of employment to cite a few of a place. The prevailing competition refers to the major players or the number of exits and entry of players in the market and business that strives for absorbing the same workforce whereas changes in the labor force implies the composition of labor or supply and demand of labor in a particular market (Byars & Rue 2008) . One of the major objectives of human resource planning at Dell is to assist the organization in the accomplishment of goals and attain competitive advantage thus enabling the organization to beat various external and internal business factors. The organizational human resource planning (OHRP) process has been the key factor behind the success of Dell. The organizational human resource planning process enables Dell to forecast the demand for labour well in advance so as to augment the growth of the organization. The human resource planning process of Dell engages in identifying the vacancies for key jobs in the organization well in advance. Along with these the process also involves competency mapping which is done by measuring the performance and quality of the organization’s high performers. This enables an organization in deciding what kind of skill sets can be expected from the new recruits. The organization implements flexible deployment of its human resource personnel for an effective operation of OHRP process. During the lean time of recruitment and peak time of sales the recruitment team is deployed in the sales and customer service team to contribute in the sales of the organization (Rao 2010 ; Holzner 2006) .
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Introduction This critically analytical paper is in reference to the gap analysis made towards business and corporate level strategies of NutriNut, the selected case study. In this paper the Capability Gap Analysis, Capability Analysis of Key Success Factors, developmental strategies and evaluation of the same by NutriNut are initiated for appropriate business development.
Gap analysis: Capability Gap Analysis Introduction The role of resources and their capabilities at NutriNut, concentrates in terms of creating competitive advantage in the current market of Australia and its plan to be a part of international business community. According to resource-based view (or the RBV), NutriNut is very valuable as it has the R&D accumulated components of Macadamia oil. The components of this oil are Palmitoleic and Oleic Acid that comes in combination with Phytosterols and Linoleic Fatty Acid properties, whereby a unique skin care product gets its shape. This is the ultimate strength of this company and the combination of the same is restricted to its owner, Tracey Newman.
Table 1 Capability gap analysis: NutriNut Functional area Capabilities required
NutriNut capabilities
Competitors’ capabilities
Operations Capability to manufacture in volume Adding continuous
The manufacturing units are limited to Australian market, as of now.
Red Earth Natio: has the reputation of growing faster with appropriate service
Strategic Analysis of NutriNut 4
development to operations Prompt Services
Newman is particular about the operational developments Services are already prompt
responses
Neek Skin Organics: is very popular and a brand representing extensive manufacturing units as per increasing demands
Pricing Following income of the targeted consumers Price ranges should vary as per manufacturing costs
High fixed costs of the Nutri-Nut products Low level differences among the products
MooGoo: Prices vary as per the currency of the respective nation Iluka: Variations in quantity and pricing of the product for different classes of society Mukti Organics: Got fixed price as it concentrates in upper class of the society for maintaining brand image.
Strategic Analysis of NutriNut 5
Source: Adapted from Grant et al. (2014)
Table 2 Capability rating by resource
Source: Adapted from Grant et al. (2014)
Capability narrative Based on the aforementioned status of the capabilities of NutriNut in comparison with its competitors, this report lay focus on five basic capabilities that will assist the company in
Strategic Analysis of NutriNut 6
achieving better position amidst highly competitive market. These capabilities are discussed hereafter. Tangible resources, as in physical capability: In this analytical domain of assessing the capability of NutriNut, it has bene discovered that the company is better than its competitors. Its role is very clear in offering absolute organic product with excellent physical appeal (Teece, 2007; Ichrakie, 2013). Intangible resources, as in branding domain: Here, the position and role of NutriNut appears same as Neek Skin Organics. However, it is important to note here that all the other competitors are performing much better in establishing their brand image in the market. Davila, 2009; Ichrakie, 2013) Processes and systems, as in the selection of decision tools: According to the research initiatives of Teece (2009) and Broadbent & Laughlin (2009) the business proceedings of a company must have firm decisive tools. In this case NutriNBut relies absolutely on the decision of its owner, whereas all the other companies follow the decision of the Board of Directors, who are experts in diversified fields of manufacturing and marketing. Organisational culture, as in the maintenance of workplace attitude: The competitive edge in terms of workplace attitude has been widely discussed by Summers and Smith (2014) who laid emphasis on transparency of communication among every section of the organisation. NutriNut acts with excellence in this domain and this is better than its competitors. Organisational culture, as in the maintenance of ethics & values: in terms of maintenance of ethics and values, Bisbe & Malagueño (2009) and Schiller and Perera (2012) marks that an organisational culture should be well established as per the selected marketing domain. The role of NutriNut in this approach is remains average as it is also ready to take on adaption of different cultures as per the targeted market in international expansion process.
Strategic Analysis of NutriNut 7
Gap analysis: KSF – Capability Analysis Introduction In order to develop organisational status the implementation of key success factors from the external environment and the internal industry conditions must get the necessary competitive capabilities for gaining sustainability and growth (Grant, et al. 2014). According to the interpretations of Wu, et al (2010) for attaining regular growth, an organisation must have adequate amount of understanding about its activities, skills and resources. These are the aspects that must get analysd and reviewed in accordance to the competitive trend of the market. There are some relevant resources and professional skills among the employees of NutriNut that remain liable to get noted when it comes to the analytical platform of understanding the market positioning of NutriNut.
Table 3 KSF Capability: NutriNut Key Success Factors Capabilities Research and Development Unique use of Macadamia Nut Oil Innovation The management in particular ask for new ideas and innovative approaches to extend marketing expansion of the company
Communication Transparency All the employees and staff members are comfortable in getting communication with the owner of the company
Workplace Attitude At NutriNut there is a positive vibe in the
Strategic Analysis of NutriNut 8
workplace and there is no trace of discrimination at any ground
Adaption The company is well prepared to adapt every possible change that the new market demands
Source: Adapted from Grant et al. (2014)
Table 4 Rating KSFs Capabilities: NutriNut
KSF’s 1 2 3 4 5 Capabilities Research and Development Innovation Communication Transparency Workplace Attitude Adaption Technology Price Delivery Services
Source: Adapted from Grant et al. (2014)
Capability/KSF narrative
Research and Development: The R&D of NutriNut is very highly sophisticated. Its optimum
and unique way of extracting the Macadamia Nut Oil is the strongest point of the
organisational business of the company.
Strategic Analysis of NutriNut 9
Innovation: Pollock, et al (2009) considered the essence of innovation as the key to the success of any organisational strategy. In this case, NutriNut is very open to suggestions from the employees and the staff members. It even encourages innovative ideas and changes for organisational development. Communication Transparency:This is sector that is in great demand for international expansion of any firm or organisation (Felice and Petrillo, 2013). For NutriNut the transparency within the organisation is very visible and the same is assured to reach the consumers for building customer loyalty in the market. Workplace Attitude: Positive workplace attitude is the key to organisational growth of NutriNut in Australia. However, the company should also need to accept changes in its workplace attitude as it decides to expand markets in Asian nations (Bentes, et al 2012). It is here that the company must have resistance the risks and demands of the competitive market abroad. Technology: Currently, NutriNut is in demand of highly sophisticated technological backs up for managing the extensive online selling in the European nations. This is a domain that must get well nurtured and monitored with regular upgradation (Sara and Michael, 2007). Price: The current pricing strategy of NutriNut is very fixed. This must be changed to more flexible status as the company decides to cross borders (Kotler, et al., 2013). Delivery Services: Based on the speculations of Poveda-Bautista (2012) on international expansion, it is important that NutriNut organise its delivery proceedings as per the favourable services in every particular country. In case, there is a delay the possibilities of losing the client gets high.
Strategy development Introduction
Strategic Analysis of NutriNut 10
According to the research led by Bogomyagkov and Machulskyi (2012), the corporate-level strategies concentrate in the process of identifying the core competitors of a company, along with the kind of businesses that can create threat for the company. It is also a strategic management level, whereby the headquarter must remain efficient in handling all the other business corporate units of the company. On the other hand, business level strategies is about the adopt of the appropriate strategic structure to meet the competitive demands of the company. This is about the process of making decisions in favour of eeting business oriented competitive edges for a company (Bogomyagkov and Machulskyi, 2012).
Corporate-level strategies In order to meet the current organisational demands, NutriNut must follow Resource-Based View, in combination with agency theory for its global expansion. As marked by Daniel (2015) the implementation of ‘agency theory’ concentrates in ‘value creation’ among the consumers, and targets towards ‘wealth creation’ for the shareholders. An addition of RBV to this theory can add the elements of innovation and uniqueness of the products of NutriNut (see Appendix 1). As noted by Kraaijenbrink, et al (2010) the formulation of RBV can offer room for new ideas in the new markets. This is something that can combine with agency theory and will assist in the growth of NutriNut as shown in Table 5 below: Table 5 Product-market Matrix 1: NutriNut
Strategic Analysis of NutriNut 11
Source: Grant, et al. 2014)
Generic Business-level strategies For NutriNut, it is important to consider the cost leadership strategy and unlimited resources model under Porter’s generic strategies. According to Drnevich and Croson (2013) the generic strategic approach assists the company in pursuing the competitive advantage over the targeted market. Since NutriNut is very fixed with its costing strategy, the generic approach to the same will add consumer-oriented effectiveness to the prices of the products. A detailed assessment of “advantage or necessity” led by unlimited resources model will create demand oriented channel in terms of manufacturing the products for the respective market as noted in Table 6: Table 6 Product-market Matrix2: NutriNut
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