Capability Determinant Company Performance -Myassignmenthelp.Com

Question: Discuss About The Capability Determinant Company Performance? Answer: Introduction The present study focuses on the long term business with the perspective on sustainability. Sustainability refers to the as socio ecological procedure that is characterized by common ideal. It is more than decreasing their impact on the business environment. For working in the business, it involves considering long term outcome of the industry and production. In context of the business practices, it signifies that corporate policies are not harmful to the companys long term reputation and well-being (Armstrong et al. 2015) Adopting sustainable practices in business have significant benefits in the business. Sustainability usually builds accountability culture throughout the business environment. The main reason for the business becoming interested in sustainable practices is that it attracts many investors. As investors looks for the life cycle analysis of the business that evaluates long term environmental as well as carbon footprint of the commodity, sustainable business practices makes it worthy for the investors. Integrating sustainability into the marketing practices has been developed in several ways based on the particular organization and its products as well as services. The marketing strategies adopted by the companys offers sustainability as it enhances the business operations. Marketing is mainly identified as the vital role of the customers as decision makers in adopting sustainability (Liu, Kasturiratne and Moizer 2012). These include- decrease in carbon dioxide emission, recycling waste and taking initiative for fair trade. The company mainly adopts sustainable marketing that involves development as well as promotion of products and services for meeting the needs of consumers and business. In addition, the company adopts sustainable marketing as it usually adds value to the customers for building long term relationship with their consumers. It also helps the company to gain competitive advantage through a desirable and defensible position. Sustainability and marketing practices plays a huge role within the CSL organization. The company provides green technology tools required for eliminating pollutants as well as waste and safeguard their natural resources (Seuring 2013). The members of this company are well versed in sustainability for innovating new products. They also use it in the marketing practices as the customers become wary of the resource depleting practices. This study focuses on the marketing strategy and sustainable management of the CSL. Marketing Background CSL is a world specialty biotechnology organization, which researches, develops, produces and markets commodities to prevent peoples medical condition. The products of CSL include vaccines, derivatives of blood plasma, cell culture reagents and antivenom utilized in different medical as well as genetic research applications. The values of this organization have been elementary to their success, thereby facilitating them to save peoples life, protecting their health and earn reputation as trusted global leader (Khan 2014). Their values mainly guide them in generating sustainable value for their stakeholders. The management of the company mainly focuses on innovation, integrity, collaboration and higher performance. They also focuses on research and development (RD), best quality production and patient centric management for developing as well as delivering innovative biotherapies and different types of support programs for saving the lives of people. CSL also makes investment in marke t development as well as sustainable management for their existing commodities and developing new product opportunities for longer period. In the last year, this organization delivered exceptional performance due to their successful execution of strategy. The biotechnology sector in Australia comprises of small and medium enterprises (SMEs) including multinational subsidiaries (Bernstein and Singh 2016). There are near about 450 biotech companies in this nation and the total revenue generated by these entities estimates to almost $1 billion every year. There are basically four kinds of organizations within this biotech sector of this nation, which includes- Core biotechnology entities Genomic entities Pharmaceutical entities Public research institutions This nation is considered as the leader of biotechnology industry as it boosts larger proportion of GDP globally. The vital players in this sector are CSL limited, biodata holdings limited, commonwealth scientific and industrial research organization. This organization has been positioned at top three players in the industry that brings in drugs to the Australian market. They develop as well as manufacture vaccines as well as plasma protein biotherapies. The products that are offered by this biotech organization include blood plasma, antivenom, vaccines and other pharmaceuticals etc. As they are the world leader in immunoglobulins, their portfolio of creative medicines includes varied range of plasma derived as well as recombinant products. In fact, they also produces critical care products, which are basically utilized in organ transplantation, treating trauma etc. Since the commencement of sustainability program in CSL, environmental awareness as well as responsibility has been infused into every aspects of their business. Their activities mainly focuses on the making it greener (Schoonmaker, Carayannis and Rau 2013). Over the last few years, this organization has made huge progress by decreasing their operational footprint as well as improves efficiency in energy. In addition, identifying as well as managing different aspects of sustainability is vital for this biotech company. They listen to their stakeholders on regular basis, which in turn helps the management of the organization to identify, priorities and review material that inform them opportunities to provide value to their shareholders. It also provides basis for performance metrics against their strategic priorities. CSL has adopted EHS ( Environment, Health , Safety and Sustainability) strategic plan, which ensures that this organization operates in the industry according to regula tory standards. This strategy mainly includes compliance with the regulations as well as commitments of government for improving safety as well as health of workforce. This organization is headquartered at Victoria in Melbourne. They have chosen Australia for biotherapies and manufacturers huge range of plasma derived therapies mainly for treating the Australian community. This organization focuses on innovating new products, improvisation of products and producing expertise, thereby ensuring continued growth in business (De Marchi 2012). Their RD (Research and development) portfolio is classified into two types including- life cycle management and new goods development. Their life cycle management ensures product up gradation by maintaining as well as increasing competitiveness within their existing range of product. However, new product innovation creates therapies for the treatment of life threatening diseases. CSL Ltd has acquired leading position in the marketplace as it is mainly attributed to their varied product portfolio. In addition, the organizations strong production as well as distribution capabilities also facilitates it for serving their customers across globe (Danzon and Keuffel 2014). They intend to strengthen their market position as well as stabilize their financial growth by adopting different growth strategies including expansion, agreements etc. This company has attained benefit in the present years from their range of products and hence has achieved good position in the marketplace as against their competitors offering. Customers Business to business (B2B) refers to the condition in which one business usually makes commercial transaction with other business. Customers plays huge role in making every business successful. In B2B, the customers usually compete with one another and hence depending on the business they decide from which organization they will purchase. The B2B companies mainly want to create cannel relationships with the consumers internal channel members as it would create with the members of external channel (Baker 2014). Target customers signifies particular group of customers who are the main focus of the organizations marketing strategy. CSL mainly targets China as the growth market in order to achieve success in business. They also commit in supporting their patient and local communities and also improve the lie of those people who have rare conditions. They also play important role in providing humanitarian programs around the globe. Brand positioning Brand positioning signifies the method of designing the offerings or products of the organization that occupies distinctive position in mind of the target customers. Brand positioning strategy adopted by the company usually involves creation of brand associations in the minds of customers for making them perceive brand in particular way (Standing, Standing and Lin 2016). CSL organization basically develops logo that accomplishes various objectives. They even create unique logo for communicating special benefits of their products and facilitate their customers to differentiate among the similar products. The logo is mainly created by some of the branding expertise for including important features of the product. For example, colors, scalability and printing of the logo are also taken into account for achieving successful identity. They also package their product based on the research as well as considerations of requirements of the customers. Competitive positioning indicates how the company differentiates their offering as well as creating value for their market. An appropriate positioning map is mainly influenced by some indicators that includes- Profile of the market- The market profile relates to the size, growth stage, competitor etc. Customers segments- This includes the customers group with similar wants and requirements. Delivering value method- It indicates how the company delivers value to their market at the highest level. Competitive analysis- This analysis includes strengths, opportunities, weakness and threats of the specific company in relation to other competitors. The organization mainly uses positioning map for helping them develop positioning strategy in the market for their product or service. This is also referred to as the perceptual maps as it is based on buyers perception. This CSL organization applies positioning map to identify the position of their existing products (Welter, Bosse and Alvarez 2013). They position their product in the market in order to compete with their rivalries. CSL mainly gives stress on advertising for marketing their products for providing them good position in marketplace. They advertise their product in different mediums so that it transfers their ideas to their audience of the prospective buyers. They also focus on packaging their product and spreading their message to the range of outlets including online advertising campaigns, multimedia presentations, print advertisements, websites, direct media campaigns, social media etc in order to reach their intended customers and understand their target market. Their competitors are mainly GSK , Astraseneca, Pifzer etc. GSK produces as well as markets prescription medicines, vaccines and health care products of the consumers globally (Hollensen 2015). This organization offers medicines for treating chronic diseases and commits in driving innovation in pharmaceutical industries. AstraZenceca is a biopharmaceutical company that engages in research, innovation, development and supply medicines for improving the life of Australians. Their business strategy usually focuses on returning to business growth through science leading innovation. They mainly focuses on three therapeutic areas including respiratory, oncology, Inflammation and Autoimmunity (RIA). Pifzer is also another competitors of CSL that offers health care portfolio with best known non- prescription as well as prescription products. Their purpose is to bring therapies to the patients and eradicating life threatening diseases. They also believe in working in partnership with other co mpany. Suppliers This company has adopted active program of selecting their supplier as well as management. The supplier selection is mainly driven by regulatory and stringent quality (Welter, Bosse and Alvarez 2013). As viral portion comes from the local retailers, this helps them to avoid high cost relating to distant suppliers. This in turn enables this company to increase their productivity. If any deficiencies are detected by their suppliers, they undertake proper actions during their inspections. However, through complete knowledge of supply chain risk of materials are needed to produce their products. Product and sustainability Their product portfolio mainly focuses on creation of new products and improvising the existing ones, which in turn ensures their continued growth (Khan 2014). Moreover, development of new product creates some special therapies for treating life threatening diseases. It also ensures growth for longer term through alignment with their present marketing channels. Their products are mainly used around the globe for treating the conditions given below: Immune disorders Neurological disorders Respiratory disease Hereditary disease Furthermore, their RD activities usually support product development, which optimize their product portfolio value and the RD assets. Safety as well as quality is the basic priorities of this company throughout different product lifecycle stages. For this reason, they focus on packaging and labeling the product, so that the customers attain the information about the product that is going to purchase by them. In addition, this packaging has been added by CSL as one kind of preventive measurement in order to provide their consumers proper method of assuring authenticity of product. They even design the products according to the requirement of the peoples health, which in turn saves their lives. Price trust Price trust means that a vital role in the markets for the products that is assumed by trust. The customers purchase the products if they trust on their sellers to provide high quality as well as abstain it if the quality is not good. The CSL Company adopts pricing strategy by focusing on the target customers and other competitors (Felzensztein, Gimmon and Aqueveque 2012). They set the price on medicines based on balancing the requirement of several stakeholders. Their prices also ensure optimal utilization of resources for the healthcare system, improving access to medicines for the patients and rewarding value for encouraging innovation. They even lower their prices of medicines by focusing on the competitors pricing strategy, which in turn helps them in attracting the customers and other companies for buying their product. Distributors, place and sustainability Recent study highlights that CSL progress to achieve short -term as well as long- term sustainability target and commitment (Forrest and Martin 2012). Their values help the company in creating sustainable value for their stakeholders. CSL biotechnology company partners with Immucor for distributing world market leading technology of transfusion testing. Their distribution places are Australia and New Zealand. In these two nations, this company markets huge range of pharmaceutical as well as vaccines products. Recommendation This organization should adopt 4P marketing mix that includes place, price, product and promotion. The company should diversify their range of products in order to provide their customers best possible options. Although this company is headquarterd in Australia, they should expand their business in the place by analyzing on the target market and competitors. The company has adopted reasonable pricing policy in order to remain affordable to every user. Therefore, it is suggested that they should set their price in such a way such that it keeps their profit margin minimum and provide high benefits to the customers. Moreover, they should adopt proper promotional strategy by taking help from social media in order to attain feedback from their customers about the product. Conclusion From the above study, it can be concluded that proper marketing strategy is vital for the company in order to attain success in competitive business environment. The CSL company has good share in the market owing to its effective distribution channel for supplying medicine and facing the challenges from new competitors in the marketplace. However, they should adopt proper marketing mix for meeting the requirements of customers and provide medicines at regular time. References Appiah-Adu, K. and Ranchhod, A., 2012. 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