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Business System Specialism

BUSINESS SYSTEM SPECIALISM

Portfolio (Essay)

Introduction

The portfolio is showing current role of technologies in enhancing economic outcome by lowering cost and effort. The picturising of Noja Power plant can be identified which is well known for its specialisation in research and development regarding Reclosure product and low and medium voltage switchgear assemblies for different industries. Different business strategies are adapted by different companies for ensuring customer outcome and benefits of the strategies. The current essay is showing an understanding on the use of technologies in order to enhance the economic outcome of organisations. A systematic discussion has been conducted on the inclusion of such economic concept that is effective for Noja Company for enhancing their productivity and efficiency.

Contemporary issues

While understanding the operation and strategies of Noja Power company, the contemporary issues can be noticed which the company complaints on lowest price production. This is the most efficient strategy for overcoming competition for a company. However, a company like Noja which is operating in global level has significant level of competitors. In spite of taking care of different strategic initiatives effectively, they have generalised the strategy of pricing. On the contrary, despite of being low price specification, the utility specification is not up to the mark. Therefore, it has become an issue regarding quality maintenance of the products of the company (Hawlitschek, 2019). the economic concept is quite relative with the market mechanism as well as the competitiveness for them is becoming more theoretical.

Along with this, the issues regarding the product quality as well as utility has become relative and varying. It has been also found that in case of Noja Power Company, they have a relative as well as multidimensional economic concepts that is sometimes applicable or sometimes inapplicable in case of different levels of competitions (NOJA Power, 2020). On the other hand, in a market place, all type of components is present which are of low, medium and high agents of economy. Therefore, in order to compete with all these forces, different strategic initiatives are required to incorporate. However, it has been identified that the main product of the company is automatic circuit recloser system. After noticing the considerable barriers of the firm in order to entry in market in the UK, the high market competition can be noticed. one of the most significant issue is barriers of technical knowledge of specialist which is the causal effect of lack of knowledge training, research and development (Dellaert, 2019). Considering these aspects, the issues have been observed in the supply chain system of the company. It has been noticed that, in the contemporary market, there are several new aspects and models along with engineering products of such automatic circuit recloser system.

On the contrary, while eliminating the other aspects, it has been noticed that the utility of this product is quite low in terms of industrial aspects. However, the price is very low and this is the main strategy of the company to encounter the cooptative market. On the other hand, another significant issue is lack of proper supply chain system of the company. In different market, the supply chains are not properly established and the relationship with suppliers are not proper. Sometimes, the bargaining power of suppliers are quite high, some cases very low, in some cases, the suppliers compromise with the quality of materials (Xie & Lin, 2017). However, the company s dealing with a significant aspect which is the absence of new entrants in the market which is showing significant prospect of the company. Instead of the existing competition, there are not much effective competitions could be established in the recloser market of Noja Power Company. Therefore, it can be stated that, the company has its advantageous position in the market place and along with this, they can build strong brand name in the market in an effective way.

Application in business

The company has been controlled and predicted the future of their customer outcome in an effective way. The most important aspect is their product design. As the company knows the future business is depending upon automation and technology dependent market, the product design has been done in such way. However, automatic circuit recloser system is one of the most significant product which is produced by limited organisations. For this reason, the company has acquired the global market with several strategic alignments discussed above (Xie et al. 2019). The economic strategy has been taken by the company by incorporating the consumer’s behaviour. Supplying the goods to attract the market and consumers and satisfying their needs are the main aim of a company. Along with this, in case of Noja Power company, they have evaluated different data of economics and incorporated in their product design, pricing, marketing policy and consumer penetration method (NOJA Power, 2020).

This aspect can be identified from the given record by which the consumer’s behavioural accounts can be identified in a broad aspect. Therefore, it can be stated that the strategic market planning has been done in effective way by the company. for this reason, the influence of the company in a country’s economy is quite high and it is also influencing for enhancing GDP. On the contrary, analysis of proper market size is a challenging aspect for any company as different micro and macroeconomic influence can be noticed. the main reason for this aspect is the current global market exposure. The Noja Power Company is currently operating in the global market in which different economic countries are belonging. However, the main reason is the products like switch gears does not shares their total capacity and the market cannot estimate their total power requirement. Therefore, the calculative capacity index is lacking in the production line which is creating significant issues. In a market place, all type of components is present which are of low, medium and high agents of economy (Chua, Chiu & Bool, 2019). Therefore, in order to compete with all these forces, different strategic initiatives are required to incorporate. However, it has been identified that the main product of the company is automatic circuit recloser system. After noticing the considerable barriers of the firm in order to entry in market, the company has changed their existing financial strategies effectively.

This can be identified as strategic market planning in which a tentative market size and volume has been assumed by the company. However, the issue lies in the planning of economic aspects in different countries. It has been noticed that in different countries, different systems of topography, power need, rules and regulations as well as different legal and governing systems are present. Therefore, identification of such strategies in an effective way is a significant task for the Noja company in order to establish their market. thus, for the current behavioural principle the generic economic principle is not effective for enhance the profitability of the company (Ramaiah, Sirait & Smith, 2019). However, the company is using adapt and borrow strategy of economics which are essential for maintaining productivity and sustainability. Along with this, in this way, the company could engage in the increase of GDP of the host country.

Challenges

While identifying the aspect of economic production and potential customer attraction, the Noja company is facing significant challenges in the global market. As the company is now operating in the global market, it has become a significant issue for the company to engage in different policies, legal and regulatory barriers of different countries. It can be stated that in different countries, different types of political environment can be noticed in which the taxation system is quite high (Cohen, Brown & Vergragt, 2017). Thus, it is a challenge for the company to conduct their operations in every market place and in every country. Therefore, political challenge is a great barrier for the company to enhancing its economic growth in an effective way. On the other hand, the economic factor like GDP and taxation system are also responsible for challenging the company to conduct its operation.

Apart from the operation, the marketing and purchasing behaviour of customers are varying in such cases. Thus, for Noja company, it has become a serious concern for enhancing their productivity as well as sustainability. On the contrary, another significant aspect is rise of competition. It has been noticed that the aspect of future competition is quite low in case of Noja but sometimes, the existing competition could affect the production line and consumer outcome. Due to the lack of quality maintenance the competitive market can be influenced on the business outcome. Along with this, it has been also identified that, due to low economic production, the consumer market is influencing on the consumer’s outcome (Camacho-Otero, Pettersen & Boks, 2017). Additionally, for this low pricing strategy, huge consumer market has been acquired by the company. As the company knows the future business is depending upon automation and technology dependent market, the product design has been done in such way. However, automatic circuit recloser system is one of the most significant product which is produced by limited organisations.

For this reason, the company has acquired the global market with several strategic alignments discussed above. The economic strategy has been taken by the company by incorporating the consumer’s behaviour. Supplying the goods to attract the market and consumers and satisfying their needs are the main aim of a company. on the other hand, another significant challenge is lack of proper supply chain facility of the company. In every country proper supply chain is not present which is causing huge costing (Romaniuk & Nguyen, 2017). Therefore, the economic outcome is degrading in a significant way which is causing issues in production line. Along with this production line, it is also influencing the capital marketing and the economic position of the company. therefore, more inclusion of technology is required in order to enhance the economic outcome in low cost. These are the key challenging factor and economic influencer.

Benefits

Apart from the key challenges, there are several benefits can be identified in the context of the business of Noja Power Company. The most significant benefit is the presence of low competition in the existing market. there are very few competitors are present in the market which the company has to compete in terms of production, product design, branding, pricing and others. For this reason, it has acquired significant amount of market in an effective way with the help of its production line (McDonald et al. 2017). However, this market dominance is sometimes facing issues regarding customer acceptance. The economic aspects of the company are showing significant strategy to overcome the economic barriers. However, there are several strategies that the company has adapted for lowering market competition is the low cost production. It can be stated that in different countries, different types of political environment can be noticed in which the taxation system is quite high. Thus, it is a challenge for the company to conduct their operations in every market place and in every country. another significant aspect is rise of competition (Davidson, Habibi & Laroche, 2018). It has been noticed that the aspect of future competition is quite low in case of Noja but sometimes, the existing competition could affect the production line and consumer outcome.

The low pricing is the key potential marketing which offers low priced product. The potential customers are attracted by this pricing policy of the company effectively. This is effective for maintaining the sustainability as well as competitive advantage in the market. In this way, the economic strategy is effective for the Noja Power company to elevate its productivity. It has been noticed that the operation of the company is done by identifying the highest gross domestic production countries (GDP). The highest GDP countries are having largest power requirements. Therefore, the highest earning countries which are the developed countries are having significant requirement of power that is produced by Noja Power Company (NOJA Power, 2020). the exploration of the power consumption can be estimated from its GDP and economic outcome. Along with this, the structure and amount of industries and households are also effective factors for estimating such power requirement. Therefore, with the help of these factors and elements, the power consumption ratio has been prepared by the Noja Power Company. Apart form this, based on this economic data, the future marketing can be effectively done by targeting both developed and developing nation (Lutz & Newlands, 2018). These benefits are influencing on their customer outcome, productivity as well as sustainability.

Recommendation

Thus, it can be recommended that with the help of effective policy, the consumption can be increased in developing countries. Due to the profitability in the concerned market as well as increase of their financial resources and requirement of power, the market can be selected. Along with this, the Noja company can create their requirement in the marketplace with the help of force marketing and promotional strategy. The economic strategy has been taken by the company by incorporating the consumer’s behaviour. Supplying the goods to attract the market and consumers and satisfying their needs are the main aim of a company. On the other hand, another significant challenge is lack of proper supply chain facility of the company. In every country proper supply chain is not present which is causing huge costing. Therefore, the economic outcome is degrading in a significant way which is causing issues in production line.

Along with this production line, it is also influencing the capital marketing and the economic position of the company. in addition to this, the issue is lack of future market planning which is required to satisfy the future goals and objectives of the company. Being one of the most renowned power production house, they need to incorporate effective strategy of empowering their brand name. along with this, targeting thee developed nations along the prospectus as well as developing nations can be beneficial for them in order to enhance the outcome. Based on the targeted market and their economic condition, future goals can be settled for the company. Inclusion and identification of such strategies in an effective way is a significant task for the Noja company in order to establish their market. thus, for the current behavioural principle the generic economic principle is not effective for enhance the profitability of the company. However, the company is using adapt and borrow strategy of economics which are essential for maintaining productivity and sustainability. The company has acquired the global market with several strategic alignments discussed above.

Conclusion

Henceforth, it can be concluded that with the help of more strategic initiatives, the company can achieve their sustainability in the future more competitive marketplace. Along with this, the conclusive study is also showing inclusion of more economic strategies can lower the cost and enhance the productivity in an effective way. The Noja Company can develop their market intelligence in order to understand the product portfolios of the competitors. The economic strategy has been taken by the company by incorporating the consumer’s behaviour. Supplying the goods to attract the market and consumers and satisfying their needs are the main aim of a company. on the other hand, another significant challenge is lack of proper supply chain facility of the company. In every country proper supply chain is not present which is causing huge costing.

 

 

Report

Introduction

The study of the current module has provided significant level of knowledge, understanding and skills of the learner. The current module aims to provide an in depth knowledge about business and business system associated with economy and technology have been incorporated in the learning effectively. This report is systematically discussed about the learning and knowledge understanding regarding the current module which will have potential impact on future professional practice and academic study.

Findings and analysis

The module is suggesting in depth understanding on business and business system. In reference with specialised systems which is dependent on technology is effective for lowering cost. This cost effective technologies are currently associated with business world which has been identified in the module. Therefore, skills and knowledge are necessary for understanding such automation and technology dependent operations. Apart from this, in the academic as well as professional field, there are several technology dependent operations are conducted by individuals (Romaniuk & Nguyen, 2017). These are effective for saving time, cost and human resource interference. The module is trying to incorporate such strategies in order to identify effective systems and framework to enhance the efficiency and reduce cost. The economic constrain is a potential marker that is required to lower in every aspect. Therefore, with the inclusion of proper strategic initiatives lower the cost and ensure the business system does not exceed from the budget.

Apart from this, the functional association of business as per the economy of marketplace is also necessary that can enhance sustainability and competitive advantage of an organisation. Therefore, a person, leader, entrepreneur or any other are to be aligned with the economic foundation of a target market that helps to understand the profitability. On the other hand, the module understanding is also suggesting that this is also effective for understanding the requirement or demand of potential customers. In this way, the understanding about the core subject has been increased (McDonald et al. 2017). On the other hand, the learner has also increased the analytical skills which has become critical. However, this critical arguments and similarities are derived from the logical reasoning capabilities of learner. Understanding the subject and increasing the assessing ability are the greatest contribution of the module which is beneficial for developing more ideas and knowledge in future. On the contrary, the understanding has also influenced on skill development and requirement of more training and practical knowledge is still the most concerned area for the learner that can enhance the outcome in an effective way.

Recommendation and conclusion

Thus, it can be concluded and recommended that, being a learner, gathering more knowledge by engaging in different practical field is required significantly. With the help of the acquired knowledge, practical skill is to be gathered extensively that is effective for conducting future professional activities. Along with this, in the future professional field, these skills can enhance the proficiency for understanding and conducting operations in future. In this way, the elements of the module have successfully enhanced the critical and analytical skills along with knowledge and understanding which can be incorporated in future professional filed.  

 

 

 

References

Camacho-Otero, J., Pettersen, I. N., & Boks, C. (2017). Consumer and user acceptance in the circular economy: what are researchers missing?. PLATE: Product Lifetimes And The Environment. https://ntnuopen.ntnu.no/ntnu-xmlui/bitstream/handle/11250/2478263/juana%2Bplate%2B2017.pdf?sequence=1

Chua, E. L., Chiu, J. L., & Bool, N. C. (2019). Sharing Economy: An Analysis of Airbnb Business Model and the Factors that Influence Consumer Adoption. Review of Integrative Business and Economics Research8, 19. http://sibresearch.org/uploads/3/4/0/9/34097180/riber_8-s2_03_h18-019_19-37.pdf

Cohen, M. J., Brown, H. S., & Vergragt, P. J. (Eds.). (2017). Social change and the coming of post-consumer society: Theoretical advances and policy implications. Taylor & Francis. https://books.google.co.in/books?hl=en&lr=&id=uzMlDwAAQBAJ&oi=fnd&pg=PP1&dq=economy,+technology+and+consumer&ots=2HzGhaY534&sig=sVI6DcZgBF9FDwViByvETqlyVTY

Davidson, A., Habibi, M. R., & Laroche, M. (2018). Materialism and the sharing economy: A cross-cultural study of American and Indian consumers. Journal of Business Research82, 364-372. https://www.sciencedirect.com/science/article/pii/S0148296317303259

Dellaert, B. G. (2019). The consumer production journey: marketing to consumers as co-producers in the sharing economy. Journal of the Academy of Marketing Science47(2), 238-254. https://link.springer.com/article/10.1007/s11747-018-0607-4

Hawlitschek, F. (2019). In Blockchain we Trust: Consumer Trust Relationships in the Sharing Economy 2.0. Perspectives on the Sharing Economy. https://www.researchgate.net/profile/Florian_Hawlitschek/publication/330452291_In_Blockchain_we_Trust_Consumer_Trust_Relationships_in_the_Sharing_Economy_20/links/5d47d104299bf1995b66418c/In-Blockchain-we-Trust-Consumer-Trust-Relationships-in-the-Sharing-Economy-20.pdf

Lutz, C., & Newlands, G. (2018). Consumer segmentation within the sharing economy: The case of Airbnb. Journal of Business Research88, 187-196. https://www.sciencedirect.com/science/article/pii/S0148296318301474

McDonald, M., Gough, B., Wearing, S., & Deville, A. (2017). Social psychology, consumer culture and neoliberal political economy. Journal for the Theory of Social Behaviour47(3), 363-379. https://onlinelibrary.wiley.com/doi/abs/10.1111/jtsb.12135

NOJA Power (2020) NOJA Power - Recloser Switchgear Engineers, Retrieved on: 3 May, 2020, From: https://www.nojapower.com/contact.html

Ramaiah, A. K., Sirait, N. N., & Smith, N. N. (2019). Competition in Digital Economy: The State of Merger Control on Consumer Transportation in ASEAN. International Journal2(7), 66-82. http://www.ijmtbr.com/PDF/IJMTBR-2019-07-03-09.pdf

Romaniuk, J., & Nguyen, C. (2017). Is consumer psychology research ready for today’s attention economy?. Journal of Marketing Management33(11-12), 909-916. https://www.tandfonline.com/doi/abs/10.1080/0267257X.2017.1305706

Xie, F., & Lin, Z. (2017). Market-driven automotive industry compliance with fuel economy and greenhouse gas standards: Analysis based on consumer choice. Energy Policy108, 299-311. https://www.sciencedirect.com/science/article/pii/S0301421517303518

Xie, F., Liu, N., Jin, M., & Lin, Z. (2019). Impacts of the consumer heterogeneity in fuel economy valuation on compliance with fuel economy standards. Energy177, 167-174. https://www.researchgate.net/profile/Fei_Xie6/publication/332077325_Impacts_of_the_Consumer_Heterogeneity_in_Fuel_Economy_Valuation_on_Compliance_with_Fuel_Economy_Standards/links/5cc06d9292851c8d2202d65d/Impacts-of-the-Consumer-Heterogeneity-in-Fuel-Economy-Valuation-on-Compliance-with-Fuel-Economy-Standards.pdf

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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