PESTEL Analysis – We know that PESTEL stands for external factors like Political, Economic, Socio-cultural, Technological & Legal. Company does this analysis as and when required and at regular intervals.
Michael Porter's 5 forces model - Competition in the industry, Potential of new entrants into the industry, Power of suppliers, Power of customers & Threat of substitute products are the factors thought for better competitive performance in the market to stand extra-ordinary in the market.
SWOT Analysis – Like all the professional businesses, this is a pre-requisite for any organization, we really consider to predict opportunities & threats and also see what are our strengths & weaknesses to know ourselves as well as the market.
Out of the 5 generic competitive strategies, we follow Low-Cost Strategy to cater the market needs but at a better quality.
From the history & today we have done many integration may it be horizontal or vertical, forward or backward which has given maximum growth to the company and variety of products. Benchmarking of several practices is also followed to make the process efficient. Moreover, departmentalization is also observed to gain fullest control & get the most utilization of resources.
Succession Planning Management – Then business as seen from the years is now growing at a tremendous scale and may sound a great family business for the founder & team, so from the date as the concepts explains, upcoming generation known as successors are trained as and when required for the smooth management of the business.
