Dsicuss about the Interest of Buying Firms and Sustainable Supply Chain Management.
The products with which Danfoss deals is that of heating and air conditioning products for the refrigerators and the company currently has more than 70 factories and employs more than 20000 people who are posted in different parts around the globe. One of the high profile events that are hosted by the company and needs an involvement of all the employees is known as Man on the Moon where the company gather information regarding the creative and innovative ideas that the employees have, which will help the management of the company in gaining a competitive advantage in the market where they are operating (Busse, 2016). With respect to the challenges that are present in the management system, it can be seen that they exploit the knowledge of the employees so that it can provide them a platform to increase the market penetration of the products by using these innovative ideas. The management of Danfoss will accept the challenges by hosting an event like this so that the issues present within the company can be negotiated in a better way (Candi, Melia & Colurcio, 2018).
It has been seen that the survival of the company in the market for a longer period depends on the satisfaction it can provide to the customers regarding the strategies of innovation taken up by them. The management of the company has understood that to satisfy the needs of the customers they need to be sustainable with their productivity so that the reputation of the company can be upheld in the market. This will also help the company in providing the necessary products to the consumers in the future as well. There is fierce competition among the companies, which has made it difficult of the company to stand out. The use of this innovative idea by creating an event known as man on the moon will help the company in gaining a competitive advantage in the market. It will help in bringing together more than 20000 employees so that their innovative ideas can be taken in to account for the best interest of the company. The event will help in providing a platform that will allow the employees in sharing their innovative ideas so that it can be taken up by the company and earn a competitive advantage in the market (Bocken et al., 2014).
Definition of the problem
The business organization in the recent world has been facing many issues that can be mitigated with the help of the ideas gathered from the employees. This will help in managing the idea at the developing stages with the help of the theories and models that has been established. The challenges that are faced by the management regarding the innovative ideas needs to be revised so that it can help the organization to be beneficial after the idea is being implemented within the system. Thus, the organization has begun an event, which will act as an effective platform so that the innovative ideas can be gathered from the employees who are working within the organization (Baldassarre et al., 2017).
The measures that needs to be taken up regarding the establishment of the innovative ideas in the business organization has to be done within a specific period so that it can help in understanding the benefits that the company will achieve. The ideas that will be transparent and innovative will be taken up by the stakeholders so that it can be used to contribute towards the enhancement of the level of productivity for the organization. The use of the innovative ideas will help in increasing the level of target customers for the company, as they are changing on a rapid manner (Franca et al., 2017).
The organizations that are present in the market needs to manage the operations of the company so that it can act as a mediator for MIT regarding the innovative ideas that will be taken up by the company through the event and can help in generating better and innovative ideas within the organization for its best interests.
The change in the technological advancements on a rapid manner has helped in providing a greater advantage to most of the business organizations so that the use of innovations can help in boosting their products in the market. Thus the management of the company needs to understand that an event like man on the moon will be effective in nature with respect to the innovative ideas that will be taken up from all the employees that are working under the company in different locations. Thus the ideas that will be collected from the event will benefit the profitability of the company as well as meet the demands of the customers that are changing on a rapid manner (Charles Jr., Schmidheiny & Watts, 2017).
Evidence of the problem
The creative idea that has been taking up for launching the event will be beneficial for the stakeholders of the company so that it can help in increasing the level of performance within the organization and increase the profit levels as well. It can be seen that the management of the company has created a team from where the ideas can be generated and evaluated, which will help in being beneficial for the company so that the reputation of the company in the market can be increased that will affect the profit level in a positive manner (Grobbelaar, Gwynne-Evans & Brent, 2016).
The launch of the event will help in opening up many possibilities and new ideas for the customers of Danfoss so that their demands can be adjusted in a proper way. Thus the idea will act as a beginning for the organization in Australia that will help in bringing necessary changes and the ideas can be advantageous to the government as well due to the boost that will be presented in the economy of the country (Ketata, Sofka & Grimpe, 2015).
The transparent and innovative ideas that the company will take up will help in bringing positive changes within the company and in the Australian market by boosting up the economy of the region. This will also ensure that the profit of the company can be increased in the market so that they can be sustainable in the market. The event like man on the moon will help in providing major changes to the company so that they can be able to increase their level of productivity and the reputation of the company can also increase in the market. This will also help in satisfying the needs of the external and the internal stakeholders of the company (Ortiz-de-Mandojana & Bansal, 2016).
The company will have numerous features that can be developed with the help of innovative ideas within the business sector of Australia. An example of this would be that the launch of the event in the market in a successful manner will result in providing additional support by the Australian government so that the new ideas for the business can be encouraged within the economy. It can be seen that the idea will also make the management of the company to understand the different types of employees and their respective skill sets that are being used in the company (Johnson, 2016).
The operations of the company in the Australian market will get mixed responses, as the stakeholders before the launch of the event after which the employees can participate in the event and provide ideas to the company based on which the company can benefit from the best ideas. It will also help the company in boosting its level of production in the market and the market can be retained in a better manner where they are operating. The new ideas that will be implemented within the business will ensure that the operations can be carried out in a smooth manner so that the cost of the company can be reduced to a great extent and an increase in the level of profits. The use of the strategic idea by the company will help in being beneficial as the stakeholders will also be benefitted through the idea that is being used by the business (Marti, Rovira-Val & Drescher, 2015).
The management that is present in Danfoss will be collecting the new ideas so that it can be implemented within the business and the level of productivity can be increased so that it can increase its level of operations in the Australian sector. The management will continuously update the latest changes that are being done within the company to the stakeholders so that it can help the process to be transparent, which will allow them in enjoying a competitive advantage in the market (Shank & Shockey, 2016).
The analysis of the strategic options will be done as follows:
- The management needs to employ the people who have a better set of knowledge and skills so that the productivity can be increased
- The policies and procedures that are laid by the Federal Government of Australia needs to be abided by the company so that it can carry its operations in an ethical way
- The managers need to have a better insight regarding the ideas that are being used in the company (Tukker et al., 2017)
The strategies that are recommended to the company are as follows:
- The company needs to approach the government so that it can help them in getting the necessary aid
- The directors of the company needs to arbitrate during the time when the innovative ideas are being collected and implemented in the system (Schaltegger, Hansen & Ludeke-Freund, 2016)
- The management of the company needs to intervene in the regular operations so that it can help them in understanding the development that is taking place by gathering the creative ideas through the man on the moon event
- The management needs to follow the procedures that are laid down by the Australian Federal Government so that the operations can be carried out in a proper manner
- There has to be an increase in the level of effectiveness among the Human Resource Department so that the recruitment of the employees can be done in an effective manner
- The management of the company also needs to develop the CSR policies in a proper manner so that they can gain a competitive advantage in the market (Weber, 2018)
The stakeholders of the business will be the investors, buyers and the government of Australia along with the sellers so that the benefit that will be provided to them will also help the company in increasing its level of reputation in the market (van Westen & Zoomers, 2016).
The event will result in increasing the level of effectiveness of the organisation so that it can result in better profit levels and benefit the economy of the country as well.
- The projects that will be taken up by the company will not have any impact on the balance of the environment
- The use of eco-friendly technologies will be encouraged in the operations of the company (Johnson, 2016)
- The launch of the event will result in increasing the level of competition so that the economy of the country can be influenced in a positive manner
- The country will also benefit through the event due to the increase in the level of profit for Danfoss (Busse, 2016)
The points that has been listed above has shown that the launch of the event will be beneficial for the company along with the government and the market of Australia as well.
The analysis has given the cost of the application that needs to be incurred so that it can be developed in a proper way. The cost that needs to be incurred by the company will result in a positive flow of cash as well and the Net Present Value will increase as well.
Consideration of the broader context
The financial risks needs to be handled by the management of the company so that it can result in mitigating it whenever the need arises. The competition in the market can be avoided with the help of the innovative ideas that are being used in the work place (Bocken et al., 2014).
The innovation that will take place in the company will help in changing the business sector in Australia, as the challenges that will be faced can be mitigated through the implementation of the idea in the work place.
- The company can provide the customer service so that it can help in increasing the satisfaction level with respect to the experiences of the customers
- The management can take up different marketing strategies so that it can provide the products to the target customers in a proper way (Ketata, Sofka & Grimpe, 2015)
- The directors need to supervise the operations that are taking place within the company under strict guidance
- The customers need to be informed regarding the innovations that are taking place within the company (Schaltegger, Hansen & Ludeke-Freund, 2016)
- The rules that are set by the government will be followed so that the legal bindings can be avoided
- A framework needs to be developed so that the projects that are undertaken can be beneficial for the company (Tukker et al., 2017)
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