Resource integration technique is synonymous to Integrated Resource Management (IRM). The veritable question is centered on the development of resource integration technique. Integrated Resource Management is defined as an overarching planning process (Rothaermel,2015). The composite planning process considers all the available resources that develop sustainable benefits. The Integrated Resource Management process entails many steps. It involves creating a team, adumbrating the layout of the project, discerning various issues, developing strategic concepts and executing the project (Armstrong & Taylor, 2014). The resource integration technique entails development of the project from initiation to its logical culmination.
The assignment reflects on the resource integration techniques prevalent in the industry. The industry that is selected is food industry. Based on the selection of the industry, the company chosen is Fonterra New Zealand Company. In the assignment, one has to identify the principal area (food industry) and a case study is prepared based on the identification of the area. The assignment outlines three key questions and manifests resource integration techniques prevalent in the industry.
The assignment juxtaposes theoretical paradigms and practical experimentation. The industry that is selected is food industry. The chosen company is Fonterra New Zealand Company. In the recent time, Fonterra captures the global market and ranks sixth in the whole world. At the same time, it is the largest international trader, as far as milk products are concerned. The sales of Fonterra can be pegged at a humble 2% CAGR over the past several years (Nilsson & Rydberg, 2015).
The assignment explores the strategic management of food industry. The company that is selected is Fonterra New Zealand. Based on the learning outcomes, three research questions are formulated. The research questions are enumerated as follows:
Dairy needs have been increasing exponentially. The demand is growing at a modest 2.7% per year. The growth of dairy is tantamount to 147 billion liters in the recent time. Fonterra gains a strong dimension in the global markets (Bansal et al., 2014). The markets of India are trade-protected and the established currents of Fonterra have been thwarted. However, Fonterra maintains a strong position both nationally and globally. The strategy of Fonterra is to establish robust customer liaison with leading enterprises in the food and healthcare sectors (Frow et al., 2015). Fonterra carves out a unique space in the dairy market in New Zealand, Asia, the Middle East and the USA. Subsequently, Fonterra becomes a significant supplier and establish their brands in industries based in Asia, the Middle East, and Latin America (Shelley & Andrews, 2015).
In the present time, several customers require an appropriate supply of dairy products. Fonterra is logically superseding New Zealand-sourced dairy products and began to manage the foreign supply. It helps to give and continue bolstering the improvement of fresh client dairy products. In the mid-21st century, Fonterra delivered 22 billion liters of milk across the globe, which includes 20% of output of Australia and 24% belongs to Chile. Both Australia and Chile operate as influential buyers of Fonterra. In the regions of Latin America, Fonterra delivers 2.6 billion liters of milk, along with Nestle (Sparrow et al., 2016). Fonterra and Nestle capture the dairy market of Latin America and parts of Asia. In the regions of New Zealand, milk accumulation can be pegged at 15.4 billion liters. Fonterra carves out a unique space in the domain of dairy product marketing. It begins to witness incessant development, as far as market segmentation and strategic organization are concerned. China is an important client nation and there are strategic points that are incorporating openings in various markets, for instance, India.
The dairy industry of New Zealand and Fonterra are inseparable. The dairy industry is vital to the advancement of the dairy farming of New Zealand. The development of dairy market is indispensable, as far as national economy is concerned. The composite revenue accumulation of the dairy firms of New Zealand can be pegged at NZ$18 billion. The total turnover of New Zealand-based dairy firms is generally NZ$18 billion. Fonterra is responsible for 90% of dairy farming and dairy products manufacturing in New Zealand.
The New Zealand government allows Fonterra to function without any restraint. At the same time, it is given an opportunity to promote a national theme (‘New Zealand’s Nokia’) that would propel fiscal and monetary improvement in New Zealand (Smith, 2014). This typical improvement has not shown up. In the recent time, there has been a hot bed of controversy in dairy industry circles, government and in the general media. The discussion revolves around the global outreach and expansion of Fonterra (Shadbolt et al., 2014). The major decisions have been considered by the Fonterra Board. It aims to improve the economy and fiscal administration of New Zealand. The New Zealand dairy enterprise is enhanced by the contribution of Fonterra and its associate (Shadbolt et al., 2016). Taking after contribution from observers, the document has created from being a valuable truth based situation outline into a fundamentally more grounded indispensable decisions report.
It is suggested that the proprietors of Fonterra pick a crucial heading and after that use this to drive ownership structure in an unexpected way. Eventually, the method looked for after will suggest or choose the cognizant ownership structure for Fonterra (then again, if proprietorship structure is settled, indispensable decisions are limited) Fonterra becomes the potential exporter of dairy products to the regions of North America and Europe. It makes the ingredients of Fonterra supreme among other dairy merchandise (Nyberg et al., 2014). Taking after the method for Kerry into a more broad extent of fixings is a for the most part clear technique, however not without its challenges. Transformed into the greatest refrigerated buyer things bargains and advancing relationship in Australasia. Make "Fonterra Foods", harden client dairy promote in New Zealand and acquire necessary associations to grow appreciation (Krajewski et al., 2013). In order to float the New Zealand dairy business, it would free up capital from what a cliché create a business in a decent shape, low advancement feature. Fonterra turns into the greatest customer dairy things association in the Southern Hemisphere with a persuasive position over each and every huge market. Fonterra occupies a significant space in the domain of New Zealand dairy industry (Kerzner, 2013). Fonterra becomes the greatest supplier of dairy products of infants across the globe (Rowarth, 2013). The “Fonterra Nutrition” occupies an important space, as far as the infant health care is concerned. It exports nutrition and health products to other parts of Asia and New Zealand. Fonterra could then secure no less than one imperative infant kid formula associations as a strategy for expanding the benefit of existing milk powder conveys, yet this will likely be astoundingly expensive.
The assignment reflected on the resource integration techniques prevalent in the industry. The industry that is selected is food and beverage industry. Based on the selection of the industry, Fonterra New Zealand Company is selected. The assignment identifies the key area and focuses on the integrated management strategies that gave a new mold to the enterprise. Based on the principal resource integration strategies, the organizational structure of Fonterra New Zealand is discussed and evaluated. The statistical analysis claims that the revenues of Fonterra New Zealand overshadowed the business of Cadbury, Nestle and other premium dairy companies of New Zealand. Speaking in a nutshell, Fonterra New Zealand has the capacity to rule the market. At the other end of the spectrum, Cadbury New Zealand needs more consultation, as far as its organizational framework and its positioning in the New Zealand market is concerned.
Armstrong, M., & Taylor, S. (2014). Armstrong's handbook of human resource management practice. Kogan Page Publishers.
Bansal, Bhavya, and Aishvarya Bansal. "Approaches of Cadbury Schweppes Company to manage its human resources and business strategies." International Journal of Scientific and Research Publications (2014): 36.
Frow, P., Nenonen, S., Payne, A., & Storbacka, K. (2015). Managing Co?creation Design: A Strategic Approach to Innovation. British Journal of Management, 26(3), 463-483.
Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Krajewski, L. J., Ritzman, L. P., & Malhotra, M. K. (2013). Operations management: Processes and supply chains (Vol. 1). New York: Pearson.
Nilsson, J., & Rydberg, C. (2015). Factors behind the Fonterra shareholders’ rejection of the board’s capital restructuring plan of 2007.
Nyberg, A. J., Moliterno, T. P., Hale Jr, D., & Lepak, D. P. (2014). Resource-based perspectives on unit-level human capital: A review and integration. Journal of Management, 40(1), 316-346.
Rothaermel, F. T. (2015). Strategic management. New York, NY: McGraw-Hill.
Rowarth, J. S. (2013). DAIRY COWS? ECONOMIC PRODUCTION AND ENVIRONMENTAL PROTECTION. Ecosystem Services in New Zealand? Conditions and Trends, 85-93.
Shadbolt, N. M., & Duncan, A. (2014). Fonterra as a case study of co-operative capital structure innovation. International Summit of Cooperatives, Quebec, Canada, 6-9.
Shadbolt?a, N. M., & Apparao, D. (2016). Factors Influencing the Dairy Trade from New Zealand. EVERY GENERATION NEEDS ITS LEADERS., 241.
Shelley, A., & Andrews, H. (2015). Economic Benefits to New Zealand from Beyond-Line-of-Sight Operation of UAVs.
Smith, L. G. (2014). Impact assessment and sustainable resource management. Routledge.
Sparrow, P., Brewster, C., & Chung, C. (2016). Globalizing human resource management. Routledge.
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