Ventura Boat Case Study Analysis-Free-Samples-Myassignmenthelp.com

Questions: 1.Perform the SWOT analysis of Ventura Boats 2.Analyse the threats and opportunities you have discovered in the SWOT analysis. 3.Based on the Ansoffs Matrix and identified threats and opportunities, suggest a strategical alternative that Ventura Boats should pursue in the future. Provide reasons for your answer and support your recommendations with credible sources of information. Answers: Introduction This report will focus on the various issues in relation to the organizational tensions for a successful strategy via the Ventura Boats case study. It will elaborate further with an objective of analyzing the internal and the external environment of Ventura Boats by using the SWOT matrix. Threats and opportunities for the company will be the main subject of concern in this report. Lastly, it will end up with few strategic recommendations and suggestions so as to manage the management risks that the company is facing in the current days. Ventura Boats is a New South Wales based Business Company that is operating since 1961. It is a small boat building business that is operating only in the domestic area. This section of the report will identify the internal and external factors that are presently affecting its nature of business. 1. Internal and External environmental analysis of Ventura Boats (SWOT) Internal Analysis Strength Weakness Experienced company High quality and luxury boats Industry-respected employees Australian category market leader Confined only to Australian market Large range of its products are in decline in the market of Australia Low employee morale Zero experience in the trading market Dependency on the traditional manufacturing processes and materials for building boats Use of out dated technology and designs External Analysis Opportunities Threats The overseas government has placed less restrictions for using traditional boats Ventura products will still be legal for many of the coming years The emerging economies have resulted in rich customers Rich customers tend towards luxury boats, as they have a passion for luxury and traditional products Emergence of substitutes Growing market of overseas along with the presence of trading partners Notable staff departures from the company People are moving towards more ordered and efficient technologies Shrinkage of the domestic market in Australian People no longer wants to use the old boat models Australian government can place restriction in the usage of majority of the Ventura boats in the future. 2. Analysis of Threats and Opportunities Threats: The Australian domestic market is slowly shrinking and this is resulting in the emergence of more number of substitutes in the market of Australia (Green, Sterner and Wagner 2014). With the same, though Ventura Boats is one of the category market leaders, it does not have any experience regarding the overseas market and the overseas market is growing rapidly in the majority of the countries and that too with the presence of trading partners. Moreover, recently, the CEO of Ventura Boats has informed that the government of Australia may give restrictions on the usage of some specific types of boats of the company. With much efficient and well-experienced staffs, the company will still not able to make the necessary changes in the technology in such a less time i.e., before the current products become illegal in the Australian market. Not only Ventura, but the rest other traditional boat building companies that are present in Australia are also going through the same crisis. Th ey are also undergoing possible ruins. This is one of the major challenges that Ventura Boats is facing in the present years. Furthermore, the current generation tends more towards the modern and latest technologies that are efficient both in terms of material and manufacturing process (Ellabban, Abu-Rub and Blaabjerg 2014). With the same, some of the larger boat building companies inn Australia are looking forward for buying smaller competitors such as Ventura Boats in order to liquidate their assets and get their market share, which in turn will slowly bring them to their closure. This is why, the employees of Ventura have low morale and most of its best employees are leaving the company because there are very little chances of improvement of the company. As a result there are very significant staff departures. Opportunities: The major opportunity existing for Ventura is that there are lesser restrictions on the usage of traditional boats from the overseas government and that the boats of Ventura will still be legal in few of the near years as well. Furthermore, the growing economies in the emerging nations has generated wealthy customers, this is greatly beneficial for such traditional boat builders (Reynoso et al. 2015). This is because most of the rich customers are generally passionate for luxury products and there are very high chances that these customers will buy traditional boats (Kang and Park 2016). Hence, it will help the Ventura boats to sell their boats in the Australian market. 3. Recommendations There are few recommendations listed below that Ventura Boats could use in order to tackle the above situation. The company must make use of modern technologies, latest materials and latest manufacturing processes for building their products, rather than relying on the traditional methods. It must opt out the use of hand built boat building ways. In order to ensure that the international exporters are well familiarized with the business culture of Australia, training programs must be conducted. It will help Ventura to promote an effective intercultural communication within the company and this in turn will also help it interact with the international or foreign customers. It must start overseas trade and expand its business internationally. This will help Ventura to increase its customer segment as well, as more people will be aware of this brand and its business. It will also result in making a world wide popularity of Ventura Boats, which will save the company from shrinking in the near future. Ventura boats can make use of social networking sites and various other advertising medium for marketing and advertising its products. It is very important for a company to make people aware of its existence in order to remain in this competitive market environment (Olins 2017). Hence, Ventura must advertise its products though different online sites to reach more number of buyers so that, its product portfolio could be saved from shrinkage and declining (Scott 2015). References: Ellabban, O., Abu-Rub, H. and Blaabjerg, F., 2014. Renewable energy resources: Current status, future prospects and their enabling technology.Renewable and Sustainable Energy Reviews,39, pp.748-764. Green, J.F., Sterner, T. and Wagner, G., 2014. The Politics of Market Linkage: Linking Domestic Climate Policies with International Political Economy. Kang, Y.J. and Park, S.Y., 2016. The perfection of the narcissistic self: A qualitative study on luxury consumption and customer equity.Journal of Business Research,69(9), pp.3813-3819. Olins, W., 2017.The new guide to identity: How to create and sustain change through managing identity. Routledge. Reynoso, J., Kandampully, J., Fan, X. and Paulose, H., 2015. Learning from socially driven service innovation in emerging economies.Journal of Service Management,26(1), pp.156-176. Scott, D.M., 2015.The new rules of marketing and PR: How to use social media, online video, mobile applications, blogs, news releases, and viral marketing to reach buyers directly. John Wiley Sons.