In the world of today, companies all around the world need to be aware about the inner working of the organization and the standpoint of the organization in the global business scenario. Since it is mandatory for all companies to be ahead of one another in this competitive world, it becomes necessary for the companies to be well aware about itself before strategizing any plan to bring in any change that is required to deal with the aggressive world. The competition makes it mandatory for companies to stay ahead of one another, which is important for being at the top in this quest for achieving the maximum profit and revenue. In order to survive in the extremely competitive world of today, the assessment and analysis of the operations of the company is important. It is important because to keep up with the competition that exists in the world today, any company needs to analyze its strengths and weaknesses. It is also required to monitor and analyze any change or scope of change that might be present in the company at a given point of time. Tools for this type of analysis like the 7S, SWOT analysis, PESTLE and balanced scorecard are necessary. To understand the innate inner working and structure of the company, these analyses are required. Companies all around the world should conduct these analyses in order to make the required changes that are important to improve the profitability and productivity of the company. This write up explores the change and the strategy of change that is required to bring in to the mentioned company, SKL. The write up shows what effect the change is going to bring in to the company and its operations. It uses tools like 7S, SWOT, PESTEL and Balanced Score Card to make the analysis. These tools help in analyzing the operations of the company. It provides a clear picture that facilitates the analysis of the company in case of any query regarding a particular section of the company.
SKL is a multi-national company that is a worldwide leader in consumer transaction technologies. The company deals with software, hardware and other services that help to achieve a successful completion of 450 million transactions on a regular basis across the financial, retail, travel, telecom, technology and hospitality industries. SKL solutions run the everyday transactions that make the life of the consumers easier. Headquartered in California, San Francisco, the company has over 26,000 employees and has operations in about 180 countries. It is a trademark of SKL Corporation in the US and other countries. The dynamics of the company is based on a “pluralism” point of view. The company is made of divergent sub-groups, which are powerful, and has their own set of loyalties, objectives and leaders. The way to achieve good relations in this company is to acknowledge that the various employees in different groups have different requirements and to put all the employees on the same page of any particular matter, the management should arrive at a conclusion with the help of some amount of compromises and understanding.
In order to understand the operations of the company in a proper and accurate manner, the help of some measuring tools like the 7S, Balanced Scorecard, SWOT and PESTEL analysis have to be taken into consideration. Therefore, the assignment proceeds with the usage of these tools to understand the company in a better way. These tools are needed to analyze how well an organization is placed in the market to achieve the intended objectives.
The McKinsey 7S framework is a model that helps to bring about a successful change in the company by analyzing the operations of the company. The 7S framework helps to analyze the strategy, structure, skills, staff, system, style and shared values of the required company. The strategy discusses the plan of the company that is aimed at achieving at incorporating changes in the company that is crucial to bring about an alteration in the operation of the company. These factors help in determining the way in which a company operates (Cheal 2014). This model can be applied to many situations and act as a valuable tool when there is a need to facilitate a change in the organization, to implement a new strategy, to help identifying how things may change in the future and to help in merging organizations (Pressler 2014).
These few points help to analyze the identity of the company and help to figure out the changes that are necessary within the company to compete with other companies around the world and earn maximum profits.
SWOT analysis is used to analyze the strengths, weaknesses, opportunities and threats of a particular company. This analysis is required to get a clear picture of the company in the global market.
The balanced scorecard is a tool that is helpful for strategic planning of an organization. It is used widely in industry and business, nonprofit organizations and government worldwide to support industry activities to the idea and policy of the institute, recover external and internal communications, as well as observe the organization performance alongside the strategic goals. The phrase was coined in the early 1990s. The balanced scorecard is necessary to analyze the workings and the operations of a particular company (Kaplan 2012). The following table represents the balanced scorecard of SKL as a company.
Internal Process Perspective
Learning or Growth Perspective
>> The revenue of SKL corporation for the year 2015, is 6.37 billion USD (Krishnamoorthy, Labuda and Haddock 2012). In the year 2016, the revenue of the company was $ 1,802 million.
>> The expenses of the company for the year 2016, was $1,656.00 million.
>> The net income of SKL corporation for the year 2016 was $ 57 million.
>> The cash flow of the company is depended on the customers and the consumers of the company (Ruland 2013). The other investing cash flow of the company is $38 million.
>> The asset value of the company as of December 2016 was $ -33.88.
>> The inventory of a company is indicated by the raw materials and finished as well as the work-in-progress products of a company. The inventory of SKL as a company is its products, goods and services.
>> The orders that a company gets to produce more products is directly proportional to the demands of the consumers. For SKL, since the company is a world leader in consumer transaction technologies, it enjoys about 450 million transactions daily across the financial, retail, travel, telecom, hospitality and technology industries.
>> The resource allocation is important in a company as an efficient resource allocation can guarantee the optimum utilization of the raw materials and thus ensuring the optimum productivity.
>> The cycle time of an organization is the annual evaluation of the performance of the company. The company, after a specific amount of time, should produce a report of the annual performance of the company.
>> Quality control is important for each of the companies in this world.
>> The customer satisfaction is the ultimate objective that companies all around the world try to achieve. SKL, being the world leader in its business gives top priority to customer satisfaction. The company has a Customer Relations solution portfolio for the wholesale distribution that improves the satisfaction of the customer by transforming sales representatives to advisors. It is one of the many offerings of the Power Enterprise software suite.
>> The market share of a company is the share of the market that is controlled by a particular company or product. The market share of SKL is very high with the company being the world leader in its industry.
>> The brand strength of SKL is very high as it is the world leader in its industry. The company enjoys a lot of brand strength as it s the world leader in consumer transaction technologies.
>> SKL, as a company has a higher customer retention capacity as it makes about 650 million transactions daily (NCR | World Leader In Consumer Transaction Technologies, 2017).
>> Employee satisfaction in this company is high as being the world leader in its industry, the company easily keep its employees happy and satisfied as without a competent set of employees, getting the job done is difficult. There are about 29,000 employees in the company as of now.
>> Employee turnover of a company is the normal low of people out of an organization through job change, ill health, relocation or retirement. The employee turnover of SKL is not that high as the employees are happy and satisfied with the company. The company has a practice of assigning a “buddy” to the new entrant to make him orher comfortable with the entire new process and procedure of induction.
>> The skills of the employees of an organization is important as without a competent set of employees, the operations of a company cannot be properly successful. SKL boasts of a set of skillful employees that contribute immensely to the profitability of the company.
>> Employee skills of SKL is very high with an efficient workforce. This has led to the company becoming the world leader in its industry.
>> Employee education is necessary to educate the employees about the details of the company. The employees should learn adequately about the procedure and the operation of the company to perform efficiently. The employees of SKL are educated adequately during the induction process of the talents.
As the CEO of SKL, after a careful analysis of the company, it can be deduced that certain changes are mandatory to be brought about in the company in order to achieve a more efficient working process, management and operation of the company (Hmieleski, Cole and Baron 2012). The company, like any other businesses around the world currently, requires certain changes in its operation and management to achieve a maximum productivity and profit for the company. The changes that can be brought about in the company to achieve the optimum level of growth and productivity are as follows:
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