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How Can We Cope With The Rising Consumer Expectations?

How Can We Bring About Updated Technological Assistance In The Organizational Processes?

How Can We Enhance Communication Management?

How Can We Come Off As a Competent Market Force In Current Dynamic Market Situation?

Answer:
Introduction

Managing organizational challenges have become a necessity in today’s dynamic business world. The rapid transformation of technology and science has led to a huge business boom—encouraging the entry of newer organizations on the international business scenario (George et al. 2016). In order to keep up with the fast-changing concepts and technologies, it is important to conduct appropriate reforms and amendments in the particular organization’s structure, functioning and approach to delivery. An organization might need to change itself in more areas than one, including technology, strategy or contemporary population. However, managing and organizational change is a complex process as it requires in-depth knowledge regarding the Company’s position in the world market, as well as the relevant theories and literature on the subject, in order to bring about a structural and systematic change.

Efficient management of organizational changes includes critically analyzing the Company’s internal and external factors, so as to develop an appropriate approach for implementing the changes. Organizational changes might trigger employee resistance or turnover, and it is crucial to minimize such risk factors, while devising the approach to implementation (Georgalis et al. 2015). Along with that, the managerial body must improvise to make sure that the Company doesn’t have to bear much cost to the organizational changes that are being implemented.

 
Research Question

This research takes up the particular organizational challenges, as identified from the detailed study of Riverwood Logistics in Singapore, and offers ways or methods to counter the particular challenges, by devising an approach that would be most relevant to the Company in discussion. After a detailed analysis of the current internal and external conditions of the organization, the four major challenges that could be identified are the following:

  • Rising customer expectations
  • Lack of updated technology, resulting in over-consumption of time and costs
  • Poor internal and external organizational communication
  • Entry of new enterprises in international market, leading to a loss in client base

This particular research would emphasize on the various ways that can be adopted to reduce the mentioned organizational challenges, in the context of Riverwood Logistics, Singapore, and further explore as to why the chosen approach would be the best solution for this case (Chadwick and Raver 2015). The particular questions that the research would address and analyze are:Therefore, the aim of this project is to investigate the various approaches that can be undertaken to reduce the specific organizational challenges in question and critically analyze them to justify why they would be the best ways to bring about an organizational change.

Literature Review

In order to build a strong grounding knowledge regarding the nature of various kinds of organizational challenges and their nature, this research conducts and extensive Literature Review, taking into account various theories, previous studies and discussions regarding the management of challenges. With a strong network of theories as well as practical experiences, it would be easier to construct an ideal approach for the Company, keeping in mind it’s contemporary time and geography.

According to (Baruah and Ward 2015), there are various factors that play important role in determining a Company’s organizational challenges and they include both internal as well as external factors. The external factors of a Company include its political scenario, social stability, legal boundaries, market competitiveness and more. Amongst the internal factors would be economic stability, access to the new and relevant technology, sustainable practices, etc. Specific tools and techniques have been devised that help in measuring an organization’s potential strengths, weaknesses, opportunities and threats, which further help in identifying the most relevant approach that should be undertaken to make the optimum decisions regarding solutions. A detailed knowledge regarding all the factors of the organization is utmost important for the in-depth understanding of the particular issues.

According to (Novak, Zarubinska and Perederii 2017), a vast knowledge regarding organizational concepts and a first-hand experience in the competitive business world, are two most important managerial skills that sets a good manager from the rest. Adequate knowledge regarding the relevant technologies and their updated versions, in relation to the organization’s structure, is another crucial element that plays vital role in organizational management. The implementation of the management theories in practical areas depend completely on the specific circumstances and the discretion of the manager; in some cases, the situation demands a mix and match of theories and concepts to bring about the required changes in the organization’s setup. In order to bring about an effective change in the organization, it is important to have strong knowledge on the various management theories and then compare them against the current situations to strike an ideal approach that satisfies all requirements.

According to (Rozdolskaya and Ledovskaya 2015), a Company’s success in the international market can only be ensured by fulfilling customer expectations. An effective customer-oriented approach in all business activities, including decision-making, is bound to bring about a worthwhile change in the organization’s performance abilities. Be it business-to-business or business-to-consumer oriented business, the fulfillment of consumer expectations is the parameter of organizational success. Various methods have been identified, which play a vital role in managing consumer expectations. These methods include, having a strong team of skilled professionals who would be able to take up consumer satisfaction issues and deal them using relevant knowledge; lead a more time-oriented approach, when it comes to carrying out organizational processes; maintaining good intra-organizational communication and keeping realistic and optimistic attitude.

 
Industry and Company Research

In order to successfully conduct an extensive research of the Company and its particular industry, it is required to investigate and analyze its external factors that play a vital role in affecting the Company’s performance (Eikeland and Skjærseth 2016). A complete industry and Company research would need a particular perspective that analyzes the Company, as in relation to its contemporary business market, competitors and stakeholders of the same. Therefore, a PESTEL analysis has been conducted to fulfill all the requirements.

PESTLE Analysis

Political Factors: The logistics industry of Singapore has been booming rapidly due to its unparallel global connectivity (Gary 2016). The government’s active role in authorizing new logistics Companies emerge from its capability to ensure sufficient success and expansion in this field.

Hence, multiple new logistics companies have sprung up in Singapore’s business market, causing particular disturbances to the Riverwood Logistics Company’s organizational performance. With more suppliers available, their customer base is being split amongst the various Companies in this industry, causing them to lose more customers. Fragmentation of the client base is one of the most serious issues of an organization, especially with ideal political conditions that support the emergence of more new start-ups in the Logistics industry (Ardeli and Kurmala 2017).

Economical Factors: The logistics industry of Singapore has been enjoying the economic benefits of a lenient trade system, allowing private Companies to invest in industrial sectors. Many start-ups in this industry gained their momentum with the benefit of economic stability (Vu 2016). With the increase in competition in the logistics industry, the Riverwood Logistics has to shift their focus to other departments like, freight management, warehouse management and retail market management.

On the other hand, with the powerful entry of large-scale organizations like FedEx and Agile, in the logistics industry of Singapore, the Riverwood Logistics has turned to be weak and incompetent.

Sociological Factors: The sociological factors also play a dominating role in determining a Company’s position amongst its contemporary business industry market. With rapid changes in the global community as a whole, certain changes in the consumer trends could be spotted. With access to more supplier companies of logistics, the consumers now have multiple options from which they can choose the one that suits them best.

Simultaneously, third-party providers like the Riverwood Logistics Company, face a grave threat of losing out on its customers, as stronger Companies emerge with better quality of services.

Technological Factors: Another important factor to consider is the technological factors of the industry and the Company in specific. With advanced technologies, consumers now have the access to buy services via online mediums and interfaces, thereby accessing a range of Companies that provide similar services at a wide variety of prices (Wu, Straub and Liang 2015).

However, the lack of proper technological assistance in the management of organizational analysis or market analysis is playing the role of a huge barrier for the Riverwood Logistics Company (Kucukaltan, Irani and Aktas 2016). The lack of technologically skilled workers in the organization plays a role in creating organizational chaos and ambiguities.

Legal Factors: With the gradual expansion of the industrial sector beyond the geographical territories, the Singapore government employs seven separate regulatory bodies that look after the entrance of new start-ups in the logistics industry (Tongzon 2018). The massive increase in business transactions in the logistics industry has resulted in legal lenience and free trade policies that make the transactions with foreign Companies and clients less expensive.

Therefore, it helps the Riverwood Logistics to maintain their transactions in other departments like management of freight management or retail services, almost without any added costs.

Environmental Factors: One of the most influential factors that impact the success of an organization is the environmental factors. With a globalised and sustainable approach to business, it is utmost necessary in the international business market, to be a market force that is not only competent but also aware and conscious of the sustainability measures (Joyce and Paquin 2016). In contemporary business market, only responsible companies that actively take up Corporate Social Responsibilities are regarded as trustworthy market forces (Høgevold et al. 2014).

One of the major areas to focus for the Riverwood Logistics Company is their transportation department that actively contributes to harmful emissions in the environment and the depletion of natural resources. As the larger companies evolve stronger with their emission mapping technologies, companies like Riverwood Logistics, fall out of date.

 
Identification and Analysis of Tools, Models and Theories

As per the identification of the major challenges faced by the Riverwood Logistics Company and the detailed analysis of its contemporary business industry, the theory for managing consumer expectations can be identified as one of the major tools to help control the damages (Zeugner-Roth, Žabkar and Diamantopoulos 2015). The consumer satisfaction management theory emphasizes the fact the most decisions made by consumers are backed by rational thinking and preference, instead of impulsive erratic behaviors. The most essential factors that dominate the consumer’s expectations include a wide range: income of the consumer, price of the product or service, necessity of the product, availability of the product, available alternatives to the product and many more. It also incorporates the management of change theory, implying that change in consumer preference is not sudden, rather a gradual shift from one product to another, under the influence of a plethora of factors like, changes in tastes, preferences and changing environmental atmospheres (Slater 2017).

One of the major challenges of the Riverwood Logistics Company has been identified as the rising expectations of consumers and therefore, this theory proves to be an appropriate guide to a better understanding of the issue and its solutions.

Strengths and Weaknesses

Strengths

  1. By applying the Customer Satisfaction Theory, it will be possible to interpret the expectations of the customers in a more analytical way, which will further help the Company to restore their consumer’s loyalty and build a strong a relationship(Gornostaeva and Sorokina 2017).
  2. Applying this theory will help the organization to enhance the value of their products and services by making them more customer satisfaction oriented. The products and services offered by the organization would evolve to be more relevant, attractive and acceptable to the consumers.
  3. Implementation of this theory will help the organization to measure their success or achievement with the parameters set according to the consumer-expectations index(DEMTSURA 2017). The desired expectations, when compared against the actual performance of the organization, identify the specific areas that still require change.

Weaknesses

  1. The theory might prove to be useful but incomplete in ways as it would fail to incorporate other attributes that need to be incorporated or amended and has not been reflected from the gathered consumer expectations or demands.
  2. No matter how efficient the customer satisfaction management tools are, they would only be able to reproduce a vague and ambiguous idea of customer demands and act with the assumptions for an organizational change.
  3. Certain shifts in customer choices may be caused due to a change in the consumer’s personal taste, style and preference, instead of an external shift in the supply, prices and quality of the available services (Vohs et al. 2018).
 
Conclusion

To conclude, the research approach suggested here specifically emphasizes on the management of consumer expectations, which has also been identified as the biggest challenge faced by the Riverwood Logistics Company, Singapore. A detailed investigation of the Company and its Industry, followed by a critical analysis of the particular external factors that have a huge impact on the performance of the organization as well as its organizational challenges have been conducted in order to determine the most relevant approach to controlling these challenges. The Consumer Satisfaction Management Theory has proven to be relevant to this case, as it sheds light on the various challenges faced by the organization in discussion. However, certain lacks and shortcomings in using this theory have also been discussed, hinting at its incompleteness and ambiguities. Using a mix and match of various tools and techniques might prove more beneficial in this case, instead of relying on just one theory or concept.

 
References

Ardeli, R. and Kurmala, H.K., Aruba Networks Inc, 2017. Client reputation driven role-based access control. U.S. Patent 9,848,005.

Baruah, B. and Ward, A., 2015. Metamorphosis of intrapreneurship as an effective organizational strategy. International Entrepreneurship and Management Journal, 11(4), pp.811-822.

Chadwick, I.C. and Raver, J.L., 2015. Motivating organizations to learn: Goal orientation and its influence on organizational learning. Journal of management, 41(3), pp.957-986.

DEMTSURA, S.S., 2017. Analysis of customer satisfaction of the quality and price of services. Analysis, 38(55).

Eikeland, P.O. and Skjærseth, J.B., 2016. Comparative Analysis. In Corporate Responses to EU Emissions Trading(pp. 271-300). Routledge.

Gary, L.Y.L., 2016. From third world to first world: Lee Kuan Yew and the Singapore transformation growth story. ?????? ?????????????????? ????????????. ?????: ??????? ???????????? ? ?????????? ?????????? ?????????, (24, ???. 8), pp.52-68.

Georgalis, J., Samaratunge, R., Kimberley, N. and Lu, Y., 2015. Change process characteristics and resistance to organisational change: The role of employee perceptions of justice. Australian Journal of Management, 40(1), pp.89-113.

George, G., Howard-Grenville, J., Joshi, A. and Tihanyi, L., 2016. Understanding and tackling societal grand challenges through management research. Academy of Management Journal, 59(6), p.1880.

Gornostaeva, Z.V. and Sorokina, Y.V., 2017. Increase of Customer-Oriented Approach by Means of Evaluating the Loyalty of Services’ Consumers. In Overcoming Uncertainty of Institutional Environment as a Tool of Global Crisis Management (pp. 31-37). Springer, Cham.

Joyce, A. and Paquin, R.L., 2016. The triple layered business model canvas: A tool to design more sustainable business models. Journal of Cleaner Production, 135, pp.1474-1486.

Kucukaltan, B., Irani, Z. and Aktas, E., 2016. A decision support model for identification and prioritization of key performance indicators in the logistics industry. Computers in Human Behavior, 65, pp.346-358.

Høgevold, N., Svensson, G., Wagner, B., J. Petzer, D., Klopper, H.B., Carlos Sosa Varela, J., Padin, C. and Ferro, C., 2014. Sustainable business models: Corporate reasons, economic effects, social boundaries, environmental actions and organizational challenges in sustainable business practices. Baltic Journal of Management, 9(3), pp.357-380.

Novak, V., Zarubinska, I. and Perederii, V., 2017. THE INFLUENCE OF THE MANAGER’S LEADERSHIP QUALITIES ON THE ENTERPRISE PERSONNEL ACTIVITIES. International Scientific Journal of Universities and Leadership, (4).

Rozdolskaya, I.V. and Ledovskaya, M.E., 2015. Customer-oriented marketing imperatives of innovation in the field of organization management working on the internal consulting principles. Mediterranean Journal of Social Sciences, 6(2), p.74.

Slater, T., 2017. Planetary rent gaps. Antipode, 49, pp.114-137.

Tongzon, J.L., 2018. Regulatory challenges in the Philippine logistics industry.

Vohs, K.D., Baumeister, R.F., Schmeichel, B.J., Twenge, J.M., Nelson, N.M. and Tice, D.M., 2018. Making choices impairs subsequent self-control: A limited-resource account of decision making, self-regulation, and active initiative. In Self-Regulation and Self-Control (pp. 45-77). Routledge.

Vu, D.C., 2016. The Impacts of Interest Rates and Taxations on Boosting Maritime Industry in Singapore.

Wu, S.P.J., Straub, D.W. and Liang, T.P., 2015. How information technology governance mechanisms and strategic alignment influence organizational performance: Insights from a matched survey of business and IT managers. Mis Quarterly, 39(2), pp.497-518.

Zeugner-Roth, K.P., Žabkar, V. and Diamantopoulos, A., 2015. Consumer ethnocentrism, national identity, and consumer cosmopolitanism as drivers of consumer behavior: A social identity theory perspective. Journal of international marketing, 23(2), pp.25-54.

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