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For the purpose of this assignment you are asked to critically evaluate the performance of the current strategy that the organisation is currently following. You are expected to draw on a range of academic sources and to provide a complete and accurate reference list. 

What needs to be covered in the strategic evaluation

1.Identify a set of strategy building tools to analyse the current strategy within its industrial context. (we focus our analysis on RNA as a company for their resources and capabilities, when using all strategic analysis tools. (apply 5 attached tools)

2.Using this tool set to evaluate the effectiveness of the strategy in operation.

3.Write a set of recommendations outlining a more effective strategy. (recommendations for Sideshow Allay specifically – how this department supports RNA and recommendation for improvement.

4.Research focuses on resources and capabilities, but also focuses on RNA company research more than the pdf provided , sideshow allay industry and carnie impressions etc  

Tool Set for Analysis

Strategic marketing is a way of building the profitability and sustainability of the business in an industrial environment. In order to identify the most suitable strategic the resource and capabilities analysing tools are the major weapons. In this paper, the strategic analysis has been focused on the company RNA or The Royal National Agricultural and Industrial Association of Queensland which is an event organiser company concerning the agricultural, industrial, manufacturing, cultural and educational promotion. In this paper, these strategic analysis and planning tools are used to make a suitable recommendation for the organization for their future expansion and profit.

Figure1: VRIO analysis model

Source: (Li & Liu, 2014)

In order to analyse individual strategies of any organisation, each strategies has to pass through this VRIO chain to identify its ability to be Sustained competitive advantage. VRIO analysis of the major strategies of RNA can be described as tabular form.

 

Rare

Supported

Inimitable

Dynamic

Users  experience

Capabilities valued in industry

Family segment

Educational Experience

Social activities

Food experience

Thinking out unique capabilities that may be of value

Signature entertainment

Financial value

Sponsorship

Integrated price

From the VRIO table, it has been understood that the major capability of RNA in the industry are its family segmentation. At the same time, social activities and food experience in the neutral level. The weakness is its lack of educational experience. On the other hand, in potential analysis signature entertainment can be very beneficial along with its integrated price. However, the financial value can be in moderate condition while having the minimum opportunity for sponsorships (Uwizeyemungu & Raymond, 2012).

Same as competitors or easy to initiate

Better than competitors & Difficult to initiate

Recourses

· Sponsorships

· Traditions

· Government Licence

· Integrated pricing

· Market recognition

· Food and beverage products

Capabilities

· Proportioning for Ekka

· Purchasing network

· Organisational structure

· Peak body profiling

· Commercial exposure

· Education and professional development

As per the RSIM analysis of the organisational position and strategic potentials, RNA can have a beneficial opportunity with exposure of their commercial success and planning, profiling highly influential personnel and developing its educational and professional activities (Li & Liu, 2014).  This is of opportunities of RNA are collectively identified as heat zone.

Figure2: Dynamic Capabilities

Source: (created by author)

In this Dynamic Capabilities tool, the innermost area is considered as the business growth or potentiality of RNA. The Sensing capability of the RNA depends on the organisational structure which varies in different section of the business. Because of being a promotional company of national, industrial, agricultural and cultural recourse the fear of competitors is very high.  There are many other show organisers in Queensland (Uthayan, 2016). Therefore the bargaining power of buyer is also high. At the same time, there are plenty of suppliers that make the supplier power moderate. The key stakeholders of RNA are the commercial clients, business partners, suppliers, market agencies and the participants of the events. Through gradual expansion outer most layers is considered as the external environment namely, legal and environmental. Being a cultural foundation the organisation always receives effective cooperation and support from the regional and national ruling government and political parties (Rna.org.au., 2016). At the same time, the stable economical growth of Australia also increases the potentiality of making larger amount of profit. However, due to an evolution of digital media and social network RNA sometimes receives negative marketing. Apart from that cultural diversities and external mixing are causing both prospects and obstacles.

Figure 3: Design thinking

Source: (Li & Liu, 2014)

From the Design Thinking analysis, it is clear that RNA and its events like Ekka and Brisbane Exhibition focus on the broad target with lower price and higher quality ratio. On the other hand, the strategic positioning of the competitors is exactly reverse. More specifically the larger differences between RNA and its competitors are their target and quality gaps while offering the service.   

Figure 4: 7-S Framework of RNA

Source: (created by author)

From the 7-S Framework the skill, structure, staff, system and style of the RNA, can be identified and measured concerning their current business strategy and operations (Wang & Feng, 2012). These Shared values and related objectives collectively build the vision and the values of the organisation.

  • RNA should make Commercial exposure to increase the corporate social responsibility and brand value.
  • RNA should incorporated high profiled influential personnel in their promotional and operational fields.
  • RNA should focus on education and professional development to achieve their major goals.
  • RNA can focus on their signature entertainment that can be very beneficial to gain more market recognition and brand value.
  • RNA should target the broader market to expand their fame across the national border.
  • RNA should have more insight into their competitors and their strength and weakness in order to build up their strong competency level.

Conclusion 

From the above context, it can be said that the strategic analysis and planning tools are used to make a suitable recommendation for RNA regarding their future expansion and profitability. Despite that, there are some major and some secondary recommendations involving making brand value, future goals, and strategic implementation.   From the above analysis can also be stated that to prosper in future from both financial and recognition aspect RNA should reconfigure their operational field as per their current resource and capabilities.

References 

Li, D. Y., & Liu, J. (2014). Dynamic capabilities, environmental dynamism, and competitive advantage: Evidence from Australia. Journal of Business Research, 67(1), 2793-2799.

Lin, Y., & Wu, L. Y. (2014). Exploring the role of dynamic capabilities in firm performance under the resource-based view framework. Journal of business research, 67(3), 407-413.

Rna.org.au. (2016). RNA Corporate: About Us. Retrieved from https://www.rna.org.au/about-us.aspx

Uthayan, C. (2016). A Community Based Event Management in Agricultural Products Exhibition: The Royal Queensland Show (EKKA) Australia. ?????? ????? ? ??. ???????, 10(1), 45-50.

Uwizeyemungu, S., & Raymond, L. (2012). Impact of an ERP system’s capabilities upon the realisation of its business value: a resource-based perspective. Information Technology and Management, 13(2), 69-90.

Wang, Y., & Feng, H. (2012). Customer relationship management capabilities: Measurement, antecedents and consequences. Management Decision, 50(1), 115-129.

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My Assignment Help (2020) Strategic Evaluation Of RNA In An Essay. [Online]. Available from: https://myassignmenthelp.com/free-samples/mgb309-managing-strategically/understanding-of-current-strategic.html
[Accessed 22 May 2024].

My Assignment Help. 'Strategic Evaluation Of RNA In An Essay.' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/mgb309-managing-strategically/understanding-of-current-strategic.html> accessed 22 May 2024.

My Assignment Help. Strategic Evaluation Of RNA In An Essay. [Internet]. My Assignment Help. 2020 [cited 22 May 2024]. Available from: https://myassignmenthelp.com/free-samples/mgb309-managing-strategically/understanding-of-current-strategic.html.

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