The Greenwich Music Inc. is an organization dealing with the sale and promotions of music and artists. The main aim of the company is to deliver outstanding business standards that are driven towards customers’ satisfactions while enhancing their experience at a lower cost. It is also working in effort to emerge an outstanding solution provider in the current and future industrial trends. The company uses a business model that interacts with the clients’ needs as shown in the figure below:
Growth of the organization
In an effort to grow, the company has adopted various strategies that focus into customers’ needs while keeping track of the current market and industrial trend. Some of the strategies are as I will discuss in the paragraphs that follow.
This company can work on strategies to implement business model that encourage productivity. Currently, it has worked on digital marketing and other forms for advertising the products to gain a larger market. The business model is meant to target the large group at the right time.
In an effort to gain customers’ confidence, the company can provide offers and promotions aimed at attracting more customers into the business activities. These can be in the form of reduced costs and better delivery of the music products.
Identifying the business risks and opportunities is another factor that will drive the company into achieving its best. These risks should be in line with the industrial, business and technological advances that are currently experienced while focusing on the future market trends.
The company in an effort to gain a better market can work on strategies to gain a deeper insight into the expectations and deliverables of the stakeholders as well as that of the competitive and technological market. This is achieved in various steps. First is realizing what and how the customers consider the products. Secondly is an identification process for the business opportunities as well as the business risks that can be encountered. These are aimed at defining new strategies for the market and giving the firm an upper hand in the business realm. In doing so, the organization is ready to find itself the best position in the market and grow.
The company can as well work on strategies to gain a deeper insight into the customers’ needs so as to deliver what best fits them. To enhance in the profit growth, the company can diversify in the productivity activities
Acquisitions and Mergers
In order that the company managers pursue Acquisitions and Mergers, they have implemented some strategies to ensure that everything is working in order. The strategies include reducing the firm risk through diversification and increasing the firm size. Increasing the firm size increases the prestige and power of the organization hence the affiliates who come in through the confidence they gain in the organization. The increased size of the organization also increases the power of the firm and hence the reward of the stakeholders in turn.
To purse a large market, the firm works on strategies that ensure that economy of scale is achieved. These include increasing the size of the firm, having the firm in many geographical locations and putting up the firm near the reliable suppliers. These are aimed at reducing the debt capacity, reducing cash flow variability and avoiding information problems.
The organization n an effort to gain a wider market can improve on its relationship with other companies that have a common or complementary goal. This is through focusing on environments that will work well with the mergers. This is aimed at ensuring that they don’t lose in the long run to the company that they have merged with. Most companies tend to find mergers who are weak but can be mobilized. Greenwich Inc. can find itself a company that provide greater solutions in the market and align itself with the company to produce the best.
The organization through getting hold of suppliers can make a good use of their resources. They could agree on policies that govern their operation so that they strongly have the suppliers. The suppliers include the technical solutions providers, the instrument supplier, Internet service providers and the artists themselves. The organization can also make a good use of distributers by ensuring that their products have a marketing priority.
The company should as well establish pot merger strategies that will ensure that the objective still remains even after a long time of operation. This could include discussions to improve in the current objectives by introducing new methods to the original plans.
The strategies to Acquisitions and Mergers can be summarized as follows: strategic fit, preconditions for success, pre-merger discussions and lastly premerger integrations. In every effort, the company should consider whether the strategy in question is enhancing the competitive advantage or not.