Essay on Dedicated And Generic Marketing Strategies

Questions: Production of the Strategy Challenge provides a substantial opportunity to develop cognitive, intellectual and behavioural skills from individual activities and working withothers in relation to: Identification of a relevant and important business problem or challenge one that has potential for making a difference to the business. Critical analysis and synthesis on the basis of suitable high-level and supporting level strategic analyses. Narrowing a selection of potential strategic options to one suitable option on the basis of appropriate evaluation criteria. Critical and well considered reflection on the managerial implications of the recommended strategic option for the organisation? Answers: Introduction: This documentation is about the strategies using by the company EDF Energy, which is a renowned company in UK. The company supplies gas and electricity to houses and corporate sector in United Kingdom. They have more than 5.6 million customers in the United Kingdom and the number of employees in this Company is more than 13,000. The EDF group is planning some strategies for future development that they may apply within the year of 2030, which might bring a new change in the world. The company use Fossil fuel, Wind energy, Nuclear energy, electricity. The company is also having own coal and power stations. The focus on the mentioned strategies will be beneficial for the future amendments and the profitable approaches for the company. The report will be discussing some of the strategies undertaken by EDF to gain competitive advantage over their major competitors. Section 1: Strategy process and Thinking: Strategy is a framework of activities to be followed by a particular company to achieve long- term goals. The goal is to reach in a point to synergies the optimal flow of resources to the company. It is an identifying, protecting, leveraging and formatting process that the strategic capabilities of a concern through the business purpose and processes and its choice and support of people. So the strategic management in the EDF energy business involves the formulation and the effective implementation based on internal resources of the company and external environment in which the organisation practices. As a result, the firm would be able to better align their resources in comparison to E.ON UK Plc and RWE NPower Holdings Plc. The building block of strategies emphasises five questions, which need to be analysed in the business process. It should be evaluated the existing competitive environment, their operations, organisations own resources and practices, customer identification in the current as well as future scenario, highlight companys unique competing space and last is the alignment of whole acting process together. So the each building block is critically examined though the process is prolonged and highly analytical. It is important to make sense in the business process skilfully to assemble the bigger picture enabling the strategic decisions as required. In the strategic thinking process, the strategic questions are analysed. The questions are those that are relevant for the EDF energy business. The discussion may be addressed anyone of the business blocks or the combined one. There are many questions come into the topic, but the priorities need to set by the management (Summerfield et al, 2015). Managers often get influenced by the irrelevant questionnaires which can be sidelined in the running process. In the Pareto Principles, it suggests that 80% of the effects in the events are come from 20% of the cause. So importance of the strategic questions should be critically examined. But these questions are not static in nature. The changes of the question pattern often occur due to changes of competitive market (Westney, 2011). The competitive environment changes are externally triggered, though the internal factors are also matter of concern for the business process. The strategic questions help to articulate the problem. The questions may be are to break down by sub-questions (Niehaves and Plattfaut, 2011). This is called skilful framing of strategic questionnaires. First, it is needed to identify the business problem and set the questions accordingly. In this way, the sense making of the business process is important. The risks are associated in this process including factors contributing in the complex realities are highly connected. The judicious application of the particular method of strategic analysis is identified as the most important factor. So the strategic thinking needs to be applied. The picture of fulfilment of business goal of EDF energy is completed through business thinking and follows the act accordingly. It directly deals the confidence to apply the right strategy in the long run. Thus, it can be pointed that focusing on internal factors and gauging production risk would help in gaining competitive advantage over E.ON UK Plc and other competitors. Strategy is a discipline that integrates other management discipline in an organization. Sometimes, it supervises the entire strategy providing a framework for the fulfilment of business process and delivers unique supervisor to value the stakeholders. There are many strategies which need to be examined includes operation strategy, strategic human resource management, strategic marketing and strategic leadership. Therefore, placing all strategies in one alignment would be beneficial for EDF and would receive long term gain and competitive benefit. As discussed above, the business sense in the prime focus for optimum results, because strategy is all about ultimate winning which is the business objective of the company (Mane and Niranjan , 2014). The firm engages in a variety of activities to pursuing these objectives. The activities include lot of marketing to maintain the position in the market place, branding, and enable the human resource management. In human resource management, t he process of engaging, retaining and involving the best talent available as strategic resources are analysed. In this process, the over-searching strategies are practiced (Seyfang et al. 2014). There are different level of strategies are involved. The first is corporate strategy based on strategic analysis on the corporate level. The corporation consist of number of operating business units, where each one differentiated by merit analysis. The second strategy is business unit strategy which involves units with various functions (Yongrok Choi, 2012). In connection, for each of the functions, management might analyse a functional strategy. However, the network level also becoming an important aspects in strategy formulation, because companies are into process of coalitions and alliances (Vom Brocke and Sinnl, 2011). So the levels of aggregation in the formulation of level of business strategies are segregated in four levels. The level of organisation is also taking into consideration (Zellner, 2011). On the other hand, it is found that EDF has alliance partnership within the business unit, create a corporation group, maintain an operating unit and send it to functional depart ment. As a result, EDF would be in a position to increase their market position in comparison to tough competitor such as GDF Suez, SNET. Lot of skills are evaluated in these processes like finance accounting, marketing and sales, marketing communications, information management and channelize the existing management in the whole business processes. So the most important factors keep in mind that all relevant level of strategy must align around the core business purposes. At the end, the organisations functional strategy must involve business unit strategy and alignment with corporate level strategy (Wong, 2015). Section 2: Analysis of the EDFs core purpose and strategic Boundary conditions: Core purpose and stakeholder considerations: There are several strategies which the company EDF using from several tear those are the core strategies of EDF such as,- The company is recently lost their weight in the graphite core and the gas-cooled reactors so at first they need to gain their weight in this fields By some headlines in the newspaper, they want to generate more interest in media such as "Safety Regulation Could Be Relaxed to Keep Nuclear Power Station Open." They need to improve the efficiency of the nuclear reaction during operation in seven of their nuclear power station including Hinckley Point where they have two advance Gas-cooled power reactors (Vella and McGonagle 2000). The company need to take care of their power stations that are now out of service The company EDF now looking for the safety concern that is regardless of commercial consideration The company now takes an efficient approach with the stakeholders where they told that they operate their PowerStation with a big margin of safety All the above mentioned points are followed by EDF Energy then it will help them to be at competitive edge. Notion of value and value proposition of EDF: The company EDF has some ICP Value propositions for the programs such as,- They have some technical protocols that are pre-developed and market tested from some program resources The vital strategy is to enhance accuracy for the programs they also looking for the requirement of cost effectiveness Their success in maximizing the programs, stakeholders, and the participants They now using the stander of European-wide to increase the objective of program requirement (Yang and Mallick 2014). The new strategy is to attract the stakeholders including ESCOs, insurance, investor and software vendor They planned to use the standardization of industry which reduce the cost of the company, investor and also the software provider Unique competing space of EDF: This company EDF is successful to gain the competitive advantages by which they can understand the factors and structure of their unique opportunity for creating value, and their unique computing is (Hamilton-Hart and Stringer 2015). The EDF represent that unique competing space has the three unique abilities by which they can fulfill the needs of customers in such a way that the competition failed to do. The company has three boundaries, and the three different boundaries represent three different things the first boundary represent a demarcation line to the competition. The second boundary represents the interface of the company for the market in which the stakeholders and relevant customers include. The internal thresholds are represented in the third boundary. Therefore, upgrading such system on regular interval would be useful for EDF Energy to provide better service and remain ahead of the competitors like GDF Suez or E.ON UK Plc. Figure: Competing space of EDF Source: (Van den Berg 2014) The most subtle boundary is the last boundary, and it is the most critical one. The third boundary mainly represents the internal threshold of the organization in which the company must mobilize their capabilities and their resources with a mobilize manner. The company EDF is also setting a stockpile of resources. The completion mainly exists for the electricity exportation. The company EDF provides the United Kingdom 66 THz per year by which they earn 2.5 billion Euros per year. The impacts of the company EDF depending upon the competition that is a different level from this country to another country. Strategic boundaries of EDF: There are so many restrictions on their planning and strategies that they planned to apply in few years such as,- The company EDF Energy needs to bring an improvement in their Renewable energy sources, to make electric energy from the water, but in the water plant that are already exist in those areas as the measure of the rainfall falling down . The company also not permitted to build the power station in new areas (Buckholtz 2010). The stakeholder of the company are not willing to support their planning and strategies they feel hesitated with their strategies The technical protocols that they think to apply on their projects are not applicable They are not successful to get the enhanced accuracy of the requirement of their programs They think to reduce the expenses for their new project, but it not possible to reduce the expenses because the high rise in the price of raw materials The company EDF can attract the stakeholder, but they are failed to attract the ESCOs and also the investor for the company. The above are the boundaries of the strategies of the company EDF, which are not possible to break within few years. Thus, it can be pointed that if these boundaries are not settled in quick time then it would be quite difficult for EDF Energy to achieve competitive advantage and align their competitive strategies. Analysis of the firms external competitive environment: Analysis of the macroeconomic and business environment In the macroeconomic and business environment of the company, EDF there is some credit risk for the company. The measurement and management of that risk become the area of rapid innovation. The demand for the bank is increased they want more accurate credit risk analysis and sensitive analysis of the loan taken by the EDF (Vella and McGonagle 2000) PESTEL Analysis of EDF Energy: Political-EDF Energy is a big company that has to deal with many political systems in different countries. The company follows government policy and labor law and trade restrictions policy. This helps the company to operate their operation in effective way and as a result, there the company receives better opportunity to have competitive advantage. Economic-EDF Energy is affected by fluctuations in rate of interest, exchange rates, and money value. It is known that EDF energy is a big firm and supplies energy to different regions that helps in earning exchange rates. Therefore, the company also contributes foreign exchange to UKs economy. Moreover, the company rightly and timely pays their tax (Mane and Niranjan, 2014). Social-Norms, culture, religion, and social customs often determine how a business should conduct itself in a particular country or environment. The company rightly understands the needs of their consumers and provides energy so that people can have good life. Technological- EDF Energy also have big amount of resources for their technology. The company highly concentrates on using nuclear power system and wind power system to check carbon footprints and gain quality production. Figure: PESTLE analysis framework Source: (Hamilton-Hart and Stringer, 2015, p.98) Environmental- EDF Energy is involved in many other industries, one being oil and gas. EDF Energy has invested billions of dollars to improve fracking, or drilling, in order to protect the environment. Legal- EDF Energy is involved in over 110 different countries in the world which makes compliance important. Therefore, the company give high preference to health and safety law, right distribution of energy, etc. (Yassien, 2015). Industry-level analysis: The company EDF is in the monopoly market, in the country the United Kingdom there is no other company that supplies the electricity in this country. Therefore, the company rules in the whole United Kingdom but on the outer side of the country there are many competitors of the company EDF. S-curve or industry lifecycle analysis: The S-curve life cycles show the demand and performance of EDF, This Company will move in such phase that is mature; it increases sales of the company that is only possible at the other market shear expenses (Brixiov and gert 2012). On the other hand, it can be pointed that if level of competition from E.ON UK Plc and GDF Suez is higher than there can be high fluctuation in S-curve. It is important for the company that the different phases of lifecycle offer value creation of different opportunities. Analysis of Industry value chain: After analysis the Industry value chain the below result is formed which represent the chain of the company EDF Figure: Industry value chain Source: (Buckholtz 2010) The Porter five forces framework: This framework is very useful for analyzing the market of any Company. This framework successfully analyzes the nature of the company EDF. This framework has four input and two outputs. Figure: Porter five forces framework Source: (Akenbor and Okoye 2011) Threat of new entrants- The Company EDF rule in whole UK because they have no any competitor which can beat them. In UK, EDF is one of the prime suppliers of gas and electricity. Therefore, it will be tough for the new entrants to have edge over the company. Bargain power customer: The customer of EDF energy cannot bargain with them because EDF energy is in the monopoly market and therefore the customers cannot bargain on the price of gas and electricity. Rivalry among existing competitor: The EDF Energy has few rivals in the market. However, the major competitors are E.ON UK Plc and GDF Suez. Treats of substitutes: EDF would not face threat of substitute as there is no near replacement to gas and electricity. Therefore, the company would be in advantage for longer period and will generate profit. Barging power of suppliers: There is a power in the hand of supplier they can easily increase the price of the raw material, if the suppliers do not supply the raw materials then EDF Energy would not be able to product the amount of electricity that is need to provide their customers. Key success factors of EDF: There is several strategies of the company EDF which turns to the key factor for the company such as,- They have some corporate level strategy that provide the main purpose such as the vision, mission of the company They also have some business level strategy, which is another key factor for EDF it comprises how to be successful in a particular market, also know who rule in the market. The last key factor is at the operational level for the company EDF, It analysis the end of the organization where the manager who operate the company take the decisions about the strategies which need for the company those strategies are in Business level. Competitor analysis and competitive intelligence: This company is in the highly competitive market with many competitors; it is difficult for the EDF to track the activities of their competitors. They also have some clustering competitors into teams that also use the similar strategies what they think to use. Some competitors sometimes shear same strategies The company EDF can understand the other company applies the same strategies that appear unsustainable (Chand 2013) These techniques allow the company EDF to consider clues about the competitive landscape and how the competitors are will be in the future Risk management and scenario analysis: It is essential for every company to manage the risk that they can be faced. The management of the company EDF is very good, and they are experienced. The companies always have a backup for the risk they can be faced (Van den Berg 2014). The company takes a board view of risk for the company, also recognize that it can be their internal strategic fault or the operational discussion. The company is in a favorable position under some particular set of circumstances. Internal Basis of Competitiveness Use of RBV The Resource Based View is considered as the approaches for the achievement of the competitive advantage of the firm. In the year of 1980 and 1990, the emergence of Resource Based View took place. Adinolfi et al. (2011) opined that the approaches of the Resource Based View areconcerning the focus on the internal resources of the firm for achieving the competitive advantages. Figure 1: Resource Based View and VRIO Framework (Source: Adinolfi et al. 2011, p.421) As per the RBV components, some of the assets are needed to be defined. The Tangible assets are concerning the physical resources equipment, machineries, lands, etc. On the other hand, Bonardi (2011) defined, Intangible assets are representing the resources, which are not physically present but have the greater value itself. The trade mark of the EDF Energy, the reputation, and the intellectual properties are considered as the intangible resources. The brand name is also being specified in such manner. The Heterogeneous is basically defining the capabilities and skills for maintaining the resources and using them for achieving the competitive advantages. It is to be specified that the innumerable assets lack of the relevant strategies and therefore, the skills are used for managing these assets for the profitable aspects. The immobile asset is focuses on the resources, which are not movable and have the short-run. The intangible resources, the intellectual properties, and the knowled ge of the process are usually considered as the immobile assets. VRIO framework VRIO framework is used as the tools for understanding the proper ways of achieving the competitive advantages. The tool is helpful for the value chain analysis, porters 5 forces analysis, and the PEST analysis of a firm (Buetow and Entwistle, 2011). EDF has been using such tools in considering the resource strength for positioning the business in the global business market. The identification of such analytical aspects is relevant for justifying the market value of the firm. Dynamic Capabilities: It is to be noted that the dynamic capabilities are assuring the ability of the firm while restructuring the use of the strategies as per the changing business environment. The external and the internal competencies are indicating the exact assets and the strategies that are needed for the survival of the company in the competitive market (Gouvea and Vora, 2015). The three dynamic capabilities are assuring the competitive aspects of the firm. EDF has to concentrate on these challenges, which deal with 1) shape and the sense of the threats and market opportunities 2) Seizing the opportunities 3) The maintenance of the competitiveness by enhancing, reconfiguring, protecting, combining, and managing the intangible and intangible resources The modification of such specification is assuring the market positioning by concerning the market opportunities and competitive scenario. Value Chain Analysis of EDF It is to be notified that EDF invests a good amount of the money while supplying the goods and services to different business operational managements. The investments are indicating the greater value of the business in considering the safety and securities for the business. Helfat and Peteraf (2014) pointed out that in assuring the safe and safety business dealings, the firm has to concentrate on the basic requirements of the stakeholders. The mergers with the broader organisations enhance the assurance of the safe and security purposes. The value chain is thus indicating the sustainable business partnership for concerning the competition in the global business market. However, it is to be indicated that the process of supplier qualification can contain the risk assessment while delivering the services (Liu, 2011). EDF is concentrating on such aspects for generating more revenue by confirming the safety approaches to the other business organisations. Informal and Formal Organisation The formal organisation is referring the structure, which is created by the management for the achievement of the organizational goals. The network channels are assuring the responsibilities of the authorities by communicating with the employees (Holder and Zhao, 2014). On the contrary, the informal organizational structure is ensuring the interactive nature of the work forces as per the social and psychological concerns. The informal organisation method is justifying the human relationship and the friendship relation maintaining with the co-workers. It is to be noted that the group performances are effective enough while achieving the organisational objectives. Therefore, it is very much useful to maintain a formal process and the cooperative nature among the subordinates for ensuring the organizational success. Strategic choices and options: Generic Strategies The formation of the generic strategy is effective and fruitful for EDF for achieving the competitive advantages in the global market. The generic strategies are indicating several aspects, such as Cost Leadership Strategies, Differentiation Strategy, cost focus strategy, and differentiation focus Strategy. Figure 2: Generic Strategy (Source: Nandakumar et al. 2011, p.223) Cost leadership strategies are used for the achievement of the competitive advantage by developing the edges. The strategy is beneficial in keeping the low cost of the products while demanding the average price from the other business (Nandakumar et al. 2011). The strategy enhances the market share as well. On the other hand, the differentiation strategy is focused on the innovation, development, and the market research. The focus strategy is depending in the market positions and building the market segments. The implementation of such strategy will be beneficial for EDF in strengthening the competitive position in the business market. Ansoff Matrix: It is to be specified that EDF needs to implement the Ansoff Growth Matrix for the enhancements of the energy products. The development if the business is also concerned accordingly. Figure 3: Ansoff Matrix (Source: Holopainen and Toivonen, 2012, p.200) As per the matrix, the market penetration has signified the development that the company needs to initiate for enhancing the sales level of the existing products (Moussetis, 2011). On the contrary, the product development is introducing the new market products for the development of the business in the market. The Diversification is generating the idea of offering new products for assuring the profitability. Holopainen and Toivonen, (2012) implied that this development and the offerings of the products are ensuring the market development in a broader area. The consumption and the delivery of the products are thus assuring the relevant use of the strategies, which can strengthen the business position more specifically. Diversification Strategies The Ansoff matrix is highlighting the necessity of the diversification strategy, which is divided into several aspects. The strategy is depended on the consistency with the resources for achieving the objectives of the firm. The three types of diversification strategies are the horizontal diversification, concentric diversification, and the conglomerate diversification. Concentric diversification: The concentric diversification is pointing out the use of the similar technological equipment in different industries. The firm has to assure the uses for implementing any strategies concerned in the amendments of the technological diversification (Wajcik, 2015). It enhances the market share for a new product launch. Horizontal Diversification In specifying the horizontal diversification, the company is adding market products for enhancing the business values and strengthening the competitive market position more profoundly. It has been seen that of the new products are more demanding for the higher quality assurance; it collects more amount of the revenues in every aspect. The company can be benefitted by launching the new products. Conglomerate Diversification In such types of diversification, the companyincorporates new market products, which have the greater value itself. It is to be noted that these types of the products do not associate with the technological or any commercial strategies. However, it is also very much indicative that the implementation of such diversification strategies can sometimes be too risky for the company, as this does not maintain any proper relationship with the current market segmentation. The collaboration of such diversification strategies can sometimes be more beneficial in determining the profitability assurance of the company. However, the company even has to focus on the relevant ways of implementing such strategies by concerning the risk assessment. Evaluation of the Strategic Option The evaluation of the strategic option is considering several features, which are needed to be maintained. These components are validity, consistency, business risks, feasibility, and flexibility. Validity It is to be ensured that while assuming about the strategic option, the firm should validate the option, as these include future business environment (Wajcik, 2015). Thebusiness competition is very much focused accordingly. Consistency The alternatives in strategic marketing should be focused on the firms mission, vision, and values. The maintenance of the consistency in choosing the options is very much essential. Business Risks In assuring the return of the business, the risk assessment is visible. Yassien (2015) notified that every strategic option include the risks, and therefore, the firms have to deal with such risks accordingly. Feasibility While choosing the strategic option, the firm has to concentrate on the feasibility aspects. In determining the achievement of the companys mission and vision, the feasible aspects are needed to be justified. Flexibility As the business world is rapidly changing, the firm has to maintain the flexibility for adjusting with the different working environment. The maintenance of the flexibility is thus effective enough in meeting the needs of the repetitive changing world. Recommendation: It is to be indicated that the EDF Energy occupies a significant position in the global market. However, the market challenges are very much prominent and concerned. The firm needs to cut down the excessive cost related to the production of gas and electricity. It will help in saving capital and investing in renewable source of energy for producing electricity. The implementation of the effective strategies is considering the innovative ideas to enhance the profitable aspects of the company. The PESTEL analysis is focused on the different factors, which may affect the business. The concentration of such factors will be effective enough in considering the business progress and fix their target customers as well as target markets. The value chain analysis is indicating the safety and the secure business dealings, which are needed to be improved for the future prospects. The firm has to do risk assessment before applying the strategies as it will help them to organize their activities i n much better way. The risk analysis will be ensuring the required rectification in the business establishment process. While structuring the business process, it is very much important to concentrate on the available resources, which will be assessing the profitability in the business. Therefore, managing the resources can be taken as one of the main criteria in considering the business profitability. EDF Energy has to acquire more resource-based structure for ensuring the skilled business dealings for the future progress. The effective evaluation of the cost leadership and diversification strategies can even enhance the business profitability. If EDF Energy can keep the eyes on the costing structure of the products or the service and can offer the dealers with an average cost. In such manner, the company can earn the profit in return of investing the money. On the other hand, the maintenance of validity, consistency, business risks, feasibility, and flexibility will be beneficial for considering the future profitability of the business. Overall, it can be mentioned that the concentration of such are as will be effective enough in considering the strengthened business position in the global environment. Conclusion: The entire discussion can conclude the structure of strategies which comprises five sections. The examination of the business scenario, it is required to know the business strategy first which may be appropriate for the business plan. 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