Research Paper on "Glo-Bus Focus Point -- Final Assessment Leader"

>Relative to the vision, this has suffered modifications in terms of the company's position. In this line of thoughts, the initial vision statement argued that Focus Point strives to become a leader within the digital camera industry. However, throughout the past years, we have achieved this desiderate and the modern company envisions to maintain and consolidate its leading position for the years to come. The statements of high quality products and services, employee opportunities and maximization of shareholder value remain unchanged.

Despite the numerous changes the company has undergone in the recent decade, the goals established in the initial stages remain valid in today's environment. As such, Focus Point continually strives to increase its customer palette, offer high quality products and maintain its leading position within the global context.

3. Employee Strategies

Focus Point followed its idea that the organization is made of people, rather than products, and developed several courses of action with the aim of creating a strong, united, pleasant and, in the same time, challenging working environment. Significant amounts of money have been invested in this endeavor, but it has paid off as it generated numerous financial and non-financial advantages. The strategies implemented relative to the human resource include the development of a performance-based scheme, in which the hard working employees are recognized through salary raises, bonuses and opportunities for promotions. A second set of strategies saw intensified efforts to hire and retain the best employees. Focus Point recognizes that the growth of the digital camera industry translates not only into increased competition for customers, but also into incremental competition for the most skilled and capable workforce. In this light of events, the management at Focus Point offered a wide selection of financial and non-financial incentives that reduced the 10% employee turnover rate to a current 2% rate. Some of the incentives included premiums and bonuses or flexible working schedules, including telecommuting for the positions that allowed this system of work. The company also emphasized on the cultural diversity of its workforce and developed strategies that led to significant benefits. For instance, Focus Point hired multicultural employees in front desk positions. The endeavor meant that these employees would be able to interact with the multicultural clients, generating as such increased levels of customer satisfaction.

Overall, the totality of endeavors targeting the employees materialized in the following outcomes:

Reduced employee turnover rates, which means reduced costs with replacing the personnel (recruiting, training, integrating, accommodation etc.)

Increased employee on-the-job satisfaction which materialized in sustained performances and increased efforts in aiding the organization reach its overall objectives

Increased product quality and customer satisfaction, which in turn translated into financial gains.

4. Customers

Just like with the staff members, the key concern relative to the organizational customers became an increase in their loyalty. The strategic courses of action developed and implemented by Focus Point were aimed to increase the number of customers, but most of the emphasis fell on a desire to increase the loyalty of the already existent clients. The endeavor also requested additional financial investments but paid off in several instances. The actions taken were vast and included a wide selection of complementary services. Some of the most notable strategies offered the loyal customer the ability to purchase digital cameras at significant discount prices (10 up to 25% discount, depending on the history of the customer-company relationship and the amount of digital cameras purchased), extended warranties or the offering of complementary products, such as cleaning utensils, tripods or remote controls for the cameras. The outcomes of the customer loyalty programs implemented can be succinctly summarized as seen in the following lines:

Reductions in the marketing fees as the loyal customers are already familiar and satisfied with the company and will continually seek its products, without the need for so much advertising

Loyal customers can be assimilated with the cash cows in the Boston Consulting Group matrix in the meaning that they generate sustainable revenues by continuous purchases

Through word of mouth, loyal and satisfied customers bring in new clients and demands for Focus Point, further decreasing the marketing costs pegged to attracting new customers

Loyal customers are more patient and forgiving when the organization or one of its employees makes a mistake

Loyal customers lead to loyal employees, which in turn generates additional financial savings

The loyal customers also offer feedback to the company, which allows it to more adequately adapt and respond to market and R&D needs (Ramaswami, 2005)

The profits of Focus Point increased by 25% as a direct result of customer loyalty.

5. Market Position

The advancements made in terms of the market position have to be addressed from two instances -- the position within the local market and the position within the international market. In terms of the national market, Focus Point has managed to establish itself as the indisputable leader and the number one manufacturer and seller of digital cameras. Within the international context however, the situation is more complex. Due to some financial challenges and the difficulties of implementing numerous process of organizational change, in the first three years, the company lost its third position to Clickit Camera and took the fourth step on the global ladder. However, starting with the fifth year, the company regained its status and once again occupied the third place on the international podium. The successful strategies that followed (in terms of all products, employees, customer, resource allocation and so on) propelled Focus Point to the second place in the international digital camera scene. The current strategy revolves around maintaining this position, consolidating it and overcoming the differences between our organization and the international leader, a SnapShot Away. In terms of the zones operated by our company, we have managed to maintain our superiority in Europe-Africa and Asia-Pacific and we have further consolidated our position in Latin and North America.

6. Competition

Given that the organization has managed to move from the third to the second position in the international classification of the digital camera leaders, its number one competitor remains a SnapShot Away. This organization recognized the threats posed by Focus Point and developed a wide series of strategic courses of action to safeguard its position. They for instance became involved in intense process of headhunting -- basically, they contacted and tried to attract key organizational members in several companies within the digital camera industry. The fact that they possessed significant financial resources allowed them to make attractive salary package offers, which were accepted by several technical and managerial professionals. With this new, enforced and experienced workforce, a SnapShot Away increased its revenues and market coverage, registering an adjacent 20% increase in their I.E. score. The industry scoreboard today:

Rank

Company Name

I.E Score

B-I-I Score

Overall Score

1.

A SnapShot Away

2.

Focus Point

98

3.

BlackJack Digital

86

4.

DigiSnap

98

84

91

5.

Clickit Camera

88

68

78

6.

EyeSEEU Cameras

60

48

54

The most aggressive competition at this point comes from the part of BlackJack Digital, who is committed to regaining their second spot in the international board. It is yet unclear the course of action they intend to take, but rumors have been spread about a potential merger between them and EyeSEEU Cameras. The latter organization has encountered difficulties concomitant with the arrest of their manager on accounts of fraud. The potential merger will have to be assessed by the authorities to ensure that it does not breach the laws of friendly competition.

DigiSnap climbed two positions thanks to its strategy of reduced costs. It is a common fact that customers will always try to… READ MORE