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Core functions of the company drive the customers and help in running the business activities in an effective way. Ascential is the media business company which is specializing in the information services, exhibition and festival. The company was founded in 1947 and has headquartered in London, United Kingdom. The company Ascential focuses on the digital economy and operates the informational services such as marketing, sales, and product design and environment policies (Boasson and Wettestad, 2016). As per the economics, the core functions of the company are the one which leads to the yielding income. The core functions support the business functions of the company Ascential. The activities related to the distribution and logistics, marketing activities, sale services, services related to the communication and the information technology, the functions related to the administrative and management, services related to the technical and engineering and development of the research, etc. are the core functions of the company.
To achieve the mission and the objectives of the company it is necessary to design the activities in the appropriate way and define the product and services in an effective manner. The primary focus is on the core functions of the company and on the operation of the company Ascential, by maintaining a strong position in the market and developing new business opportunities. Ascential company has an effective sales and marketing process as they have increased their revenues in the last few years. If the core function of the sales and marketing will be effective then it helps in managing the relationship also with the customers (Ameer and Othman, 2012). The company should also have effective accounting policies and procedures as it helps in maintaining the accounts of the cash and helps in analyzing how much tax return the company has to pay. The product and services which are delivered to the customers are of high quality which ensures the company that they are earning enough money and can earn in the future too.
The core functions of the company Ascential helps in distinguishing themselves from their competitors. The company has many competitors so by using the core functions the company has built its value in the market (Campos, et al., 2015). The internal and the external value of the company have also built through performing the core functions. The business functions of the company Ascential are performed in an effective way when the manager of the company Ascential has developed effective internal functions. The primary function of the company is to maintain the finance of the company by approving the releasing of cash and by issuing the cash. The valuable information is also provided by the core function of the company such as it helps in analyzing the difference and comparability between the agencies related to the services. The services delivery can be improved and more opportunities are identified in the company which helps in coordinating and sharing the information (Contractor, et al., 2010).
The external environment of the company is also very important as it helps in maintaining the interrelationship of the company. The information is exchanged in the environment; the resources are exchanged, which makes the interrelationship with the company Ascential. For making certain decisions in life and for doing the proper planning and controlling, the external information is required by the company Ascential. To analyses, the external environment variables are essential so that the changes in the environment and the behavior of the market can be ascertained (Masisni and Miozzo, 2012). The business environment is very uncertain and complex so the information generated from the environment helps the company in handling problems and deals with the issues. The company exchanges the resources of the environment while performing the functions of the company.
The company Ascential needs many resources and inputs from the environment to perform its functions such as manpower, equipment, finance, machine, materials, etc. The services offered by the company Ascential uses theses inputs which require interaction between the market and the firm. The company has to satisfy the demands of certain groups to sustain in the external environment to increase their profit in the company (Piecyk, et al., 2015). There are certain groups in the company which affect the external environment such as employees, consumers, shareholders, suppliers, creditors, the general public, local community, etc. Exchange of power and influence also leads to opportunities and growth.
There are certain factors that lead to the change in the responsive of the environment such as due to the competition in the market, and due to the administrative and collectiveness. The external environment of the company also gets affected due to certain factors such as political factors, social factors, economic, technological, legal, etc. These factors have a great influence on the core function of the company (Oberthür and Dupont, 2015). There are many political factors through which the company has to comply with so that business runs in an effective manner. The company has to fulfill the tax to the government as per the companies act and also regulates the governing bodies so that higher growth can be seen. The long term profitability of the company is getting affected due to the uncertain market factors. The company was operating in the media factors so they to go through with the huge risk as company is exposing to the different economies of the country. Before entering into the market the company Ascential has to go through with the certain things such as they have to go through with the rules and laws which are related to media in anti-trust laws, they have to understand the legal framework of the bureaucracy and interference in media, risk of military invasion, etc. (Mio and Venturelli, 2013).
The core function of the company Ascential also gets affected by a change in the demands and the aggregate investment in the economy such as change in the interest rate, inflation rate, foreign exchange rate, etc. Ascential Plc. can use certain factors to analyses how stable their market is such growth rate of media industry, forecasting the media sector, industry’s economic indicators, etc. Ascential can get a competitive advantage by analyzing the factors of competitive norms. The company has to raise its capital in the local market so that more growth and profit can be enhanced ion the media industry (Yamak, et al., 2014). The company has to identify the skill level of workforce and high quality of the infrastructure related to the media industry. The function of the company has to serve the local society and community also so the market of the company Ascential Plc has to share the attitudes and the beliefs of the populations so that the customer’s perspectives, demands, and needs can be analyzed.
Technology is fast changing with time so it has a great impact on the business and the external environment also. In media, a high level of technology is required to sustain in the business environment so recent technology development was done by the company. The product offered by the company should be advanced which the competitor of the company Ascential Plc has and they are taking benefits of that (Wang, et al., 2012). The impact of the cost structure is also seen in the market in the industry of media as there are many competitors who are offering the cheaper cost for similar services and products while some are charging higher. The value chain structure of the company is very effective as it helps in giving better services to the consumers. The major impact has been seen in the market due to changes in certain things such as weather, air and water pollution, climate change, ecological products, endangered species, recycling things, laws related to the environment pollution, etc. There are some legal factors also which were affecting the core functions of the company Ascential Plc. such as discrimination laws, laws related to the media, health and safety laws, consumer protection laws, etc. (Edelman, et al., 2014).
So the company core function is effective when the external environment factors are under control and certain factor does not interrupt the functioning of the company much. The customer’s services should be effective, the IT technology should be effective, and the human resources of the company should have adequate skills and knowledge which helps the company in operating the functions of the business in a more effective way. The finance department of the company has managed the budgets in the appropriate way and has controlled the funding and cash.
Description of the company: Assura Plc. is the property based company that was founded in the year 2003 and has headquartered in Warrington, United Kingdom. The company has earned good operating revenue in the last years. The company build, design and invest in the primary core buildings and also manages the General Practitioner in the UK. The company deals in surgery building and care and they are the long term investors which are the leading healthcare Real Estate Investment Trust. The company has maintained its dominant position in the market and has enough capabilities to fight with its competitors. The different departments of the company are properly coordinated such as finance, marketing, strategic planning, and the management information system.
SWOT of the company: The SWOT of the company has analyzed and from that, it has evaluated that the company has certain strength which the manager can use as the positive factor whereas the weakness of the company has to be converted into the strength (Drori and Honig, 2013). The company has the opportunity to expand its market more and also has the threat of the competitors as there are many companies that are dealing in the property industry. By analyzing the case study of this company it was founded that:
Strength: The Company Assura Plc. can reach to the large [potential market as they have a strong distribution network. The company can easily expand its project into the new markets as they have enough resources in hand and have strong free cash flows. The company has built many new revenue streams as they are successful in generating new projects and earing the goods returns on the capital expenditure on the project. The company also has a strong brand portfolio which so the biggest strength of the company (Najafi-Tavani, et al., 2014). The company has built a strong brand portfolio in the market by investing in the building over the years. When the company wants to expand the product into the new market then this brand portfolio is very helpful in enhancing the growth and improvement.
The dealer community of the company Assura Plc. is also very strong which the product of the company is not only dealt and promoted but also investors invested in the sales team and provides them enough training to extract more benefits from the products (Bell, et al., 2012). The company always meets with the demands of the customers and also provides the consistency of the quality which helps in increasing the scale-up of the automation of the activities. The major strength more of the company is that they spend more time and money in giving the training to the employees so that they can perform better and also stay motivated towards the work. The high skilled workforce is required by the company which helps in performing the functions at its best.
Weakness: The USP of the company is not that effective which is the weakness the company has. The company has the makes enough sales of the product but when it comes to attacking the competitors their USP is not clearly identified. There are many new entrants in the market and the competition was increasing so the company is not able to tackle the new challenges which are also one of the weaknesses the company has. It was also found that the company was more responsible for their sales team to counter many challenges. The core business and the functions of the company have limited resources which lead to face many challenges by the company (Eccles, et al., 2015). The technologies of the company were getting outdated with the time so they need to invest in the new technology also as the competition in the market is high and they were using the updated technologies. The company Assura Plc. has to put more money into buying the new technologies so that more effective functions can be performed by the company. To expend the market into the new geographies they have to integrate with the new technology process.
There were many opportunities that were missed by the company in comparison to its competitors as they are not good at demanding the forecasting and end up keeping the high inventory which is not good for the company. The adjacent product segments are limited which causes many barriers in the business models and the expansion of the company is getting affected. Assura plc. Long term growth can also be impacted as their day's inventory is very high in comparison to its competitors. The company has to invest more money and capital so that the growth of the company can be raised on this channel (Palmer and Cooper, 2013).
Opportunity: The Company Assura plc. It has the opportunity to boost up their profitability as the company has the decreasing cost of transportation because the rates of shipping are very lower. The cost of the company can bring down by lowering the shipper prices so that they can increase their profit. Assura Plc. has opened the new market by opening the new trends in consumer behavior (Khan, et al., 2015). The company builds the new product categories has also built new revenue streams by analyzing the new trends in consumer behavior. The competition in the market can be reduced by the company and they can get an advantage in the competitive market by developing an effective market as it will lead to the dilution of competitors.
The new government policies have been launched which were promoting the building industries and the market share has been gained through the new technology and new categories of the product (Ramanathan, et al., 2014). The company has the opportunity of buying the new products and technologies as they have a stable free cash flow which will invest in the adjacent product segments. The company can also increase its profitability as the new taxation policy has brought new opportunities for doing the business.
Threat: There are certain threats which the company has to face and it was found that if the overcome this threat then it can lead to more profits and growth in the market. There are different laws and regulations which fluctuate in the market and have a great impact on the company product standards (Davis and Franks, 2014). The physical supply chain model of the company gets affected through the online channel as the buying behavior of the consumers is changing by the time. The negative impact has been seen by increasing the isolationism on the economy of America. The sakes of the company have declined over the period as there was no regular supply of innovative products.
The profitability of the company Assura Plc. gets affected due to the rising raw material which is also a threat. The competition level of intensively increasing which is the major threat as the profitability of the company has disturbed due to the increasing number of players in the market (Schroeder, 2013). The margins of the local distributors are also high so it also becomes a threat to the company. It was found that the company generally runs in the season only as there was the time when the customer gets the time to reinvade, design and manage their buildings so high profits can be achieved when the season is there but in the offseason it becomes threat for the company as the profitability of the company is short term and the demand of thing are also not high.
The senior management of the company uses the SWOT analysis to analyses what the strength the company has which he can used ore often to increase their profit. The management of the company Assura Plc. focuses more on the weakness so that it can be turned into a strength. If any barriers are there in the growth and increasing profitability then it is analyzed through this analysis (Carcello and Li, 2013). The company analysis their opportunities in the market so they, can expand their market on those things and also invest in more on certain factors. The company has the threat that the competition level is increasing so the manager makes certain strategies and more innovative products that the competitors will no longer sustain in the market.
The senior management of the company also has the benefit that it becomes the source of information for them so effective strategic planning can be done. The core competencies of the company are analyzed which helps in dealing with both the internal and the external environment of the company. SWOT-analysis helps in taking effective decisions to the managers of the company Assura Plc. and influences them to take advantage of the new opportunity and convert them into an advantage. The objectives and the mission of the company can be met through this analysis and effective strategic planning can be done by the managers of the company Assura plc. (Cucchiella, et al., 2012).
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