Skoda UKs management Essay Example

Skoda UKs management Essay Example Skoda UKs management Essay Skoda UKs management Essay This case study focuses on how Skoda UKs management built on all the areas of the strategic audit. The outcome of the SWOT analysis was a strategy for effective competition in the car industry. The audit provided a summary of the businesss overall strategic position by using a SWOT analysis. SWOT is an acronym which stands for: * Strengths the internal elements of the business that contribute to improvement and growth * Weaknesses the attributes that will hinder a business or make it vulnerable to failure Opportunities the external conditions that could enable future growth * Threats the external factors which could negatively affect the business. INTRODUCTION Skoda is a global brand offering a range of products in a highly competitive and fragmented market. The company must respond positively to internal and external issues to avoid losing sales and market share. A SWOT analysis brings order and structure to otherwise random information. The SWOT model helps managers to look int ernally as well as externally. The information derived from the analysis gives direction to the strategy.It highlights the key internal weaknesses in a business, it focuses on strengths and it alerts managers to opportunities and threats. Skoda was able to identify where it had strengths to compete. The structured review of internal and external factors helped transform Skoda UKs strategic direction. The case study shows how Skoda UK transformed its brand image in the eyes of potential customers and build its competitive edge over rivals. By developing a marketing strategy playing on clearly identified strengths of customer happiness, Skoda was able to overcome weaknesses.It turned its previously defensive position of the brand to a positive customer-focused experience. The various awards Skoda has won demonstrate how its communications are reaching customers. Improved sales show that Skoda UKs new strategy has delivered benefits. In 1895 in Czechoslovakia, two keen cyclists, Vaclav Laurin and Vaclav Klement, designed and produced their own bicycle. Their business became Skoda in 1925. Skoda went on to manufacture cycles, cars, farm ploughs and airplanes in Eastern Europe. Skoda overcame hard times over the next 65 years. These included war, economic depression and political change.By 1990 the Czech management of Skoda was looking for a strong foreign partner. Volkswagen AG (VAG) was chosen because of its reputation for strength, quality and reliability. It is the largest car manufacturer in Europe providing an average of more than five million cars a year giving it a 12% share of the world car market. Volkswagen AG comprises the Volkswagen, Audi, Skoda, SEAT, Volkswagen Commercial Vehicles, Lamborghini, Bentley and Bugatti brands. Each brand has its own specific character and is independent in the market. Skoda UK sells Skoda cars through its network of independent franchised dealers.To improve its performance in the competitive car market, Skoda UK†s m anagement needed to assess its brand positioning. Brand positioning means establishing a distinctive image for the brand compared to competing brands. Only then could it grow from being a small player. To aid its decision-making, Skoda UK obtained market research data from internal and external strategic audits. This enabled it to take advantage of new opportunities and respond to threats. To work on the strengths, Skoda UK carried out research. It asked customers directly for their opinions about its cars.It also used reliable independent surveys that tested customers feelings. For example, the annual JD Power customer satisfaction survey asks owners what they feel about cars they have owned for at least six months. JD Power surveys almost 20,000 car owners using detailed questionnaires. Skoda has been in the top five manufacturers in this survey for the past 13 years. In Top Gears 2007 customer satisfaction survey, 56,000 viewers gave their opinions on 152 models and voted Skoda t he number 1 car maker. Skodas Octavia model has also won the 2008  Auto Express  Driver Power Best Car.Skoda attributes these results to the business concentrating on owner experience rather than on sales. It has considered the human touch from design through to sale. Skoda knows that 98% of its drivers would recommend Skoda to a friend. This is a clearly identifiable and quantifiable strength. Skoda uses this to guide its future strategic development and marketing of its brand image. Strategic management guides a business so that it can compete and grow in its market. Skoda adopted a strategy focused on building cars that their owners would enjoy. This is different from simply maximizing sales of a product.As a result, Skodas biggest strength was the satisfaction of its customers. This means the brand is associated with a quality product and happy customers. Skoda UKs analysis showed that in order to grow it needed to address key questions about the brand position. Skoda has on ly 1. 7% market share. This made it a very small player in the market for cars. The main issue it needed to address was: how did Skoda fit into this highly competitive, fragmented market? Perceptions of the brand This weakness was partly due to out-dated perceptions of the brand. These related to Skodas eastern European origins.In the past the cars had an image of poor vehicle quality, design, assembly and materials. Crucially, this poor perception also affected Skoda owners. For many people, car ownership is all about image. If you are a Skoda driver, what do other people think? From 1999 onwards, under Volkswagen AG ownership, Skoda changed this negative image. Skoda cars were no longer seen as low-budget or low quality. However, a brand health check in 2006 showed that Skoda still had a weak and neutral image in the mid-market range it occupies, compared to other players in this area, for example, Ford, Peugeot and Renault.This meant that, whilst the brand no longer had a poor im age, it did not have a strong appeal either. - Change of direction This understanding showed Skoda in which direction it needed to go. It needed to stop being defensive in promotional campaigns. The company had sought to correct old perceptions and demonstrate what Skoda cars were not. It realized it was now time to say what the brand does stand for. The marketing message for the change was simple: Skoda owners were known to be happy and contented with their cars.The car-buying public and the car industry as a whole needed convincing that Skoda cars were great to own and drive. Opportunities occur in the external environment of a business. These include for example, gaps in the market for new products or services. In analyzing the external market, Skoda noted that its competitors marketing approaches focused on the product itself. Many brands place emphasis on the machine and the driving experience: * Audi emphasizes the technology through its strapline, Vorsprung Durch Technik (adv antage through technology). * BMW promotes the ultimate driving machine.Skoda UK discovered that its customers loved their cars more than owners of competitor brands, such as Renault or Ford. - Differentiation Information from the SWOT analysis helped Skoda to differentiate its product range. Having a complete understanding of the brands weaknesses allowed it to develop a strategy to strengthen the brand and take advantage of the opportunities in the market. It focused on its existing strengths and provided cars focused on the customer experience. The focus on happy Skoda customers is an opportunity.It enables Skoda to differentiate the Skoda brand to make it stand out from the competition. This is Skodas unique selling proposition (USP) in the motor industry. Threats come from outside of a business. These involve for example, a competitor launching cheaper products. A careful analysis of the nature, source and likelihood of these threats is a key part of the SWOT process. The UK ca r market includes 50 different car makers selling 200 models. Within these there are over 2,000 model derivatives. Skoda UK needed to ensure that its messages were powerful enough for customers to hear within such a crowded and competitive environment.If not, potential buyers would overlook Skoda. This posed the threat of a further loss of market share. Skoda needed a strong product range to compete in the UK and globally In the UK the Skoda brand is represented by seven different cars. Each one is designed to appeal to different market segments. For example: * Skoda Fabia is sold as a basic but quality city car * Skoda Superb offers a more luxurious, up-market appeal * Skoda Octavia Estate provides a family with a fun drive but also a great big boot. Pricing reflects the competitive nature of Skodas market. Each model range s priced to appeal to different groups within the mainstream car market. The combination of a clear range with competitive pricing has overcome the threat of th e crowded market. Environmental constraints The following example illustrates how Skoda responded to another of its threats, namely, the need to respond to EU legal and environmental regulations. Skoda responded by designing products that are environmentally friendly at every stage of their life cycle. For example:- * Recycling as much as possible. Skoda parts are marked for quick and easy identification when the car is taken apart. Using the latest, most environmentally-friendly manufacturing technologies and facilities available. For instance, painting areas to protect against corrosion use lead-free, water based colours. * Designing processes to cut fuel consumption and emissions in petrol and diesel engines. These use lighter parts making vehicles as aerodynamic as possible to use less energy. * Using technology to design cars with lower noise levels and improved sound quality. Benefits of the analysis Skoda UKs analysis answered some key questions. It discovered that: * Skoda c ar owners were happy about owning a Skoda The brand was no longer seen as a poorer version of competitors cars. However: * the brand was still very much within a niche market * A change in public perception was vital for Skoda to compete and increase its market share of the mainstream car market. The challenge was how to build on this and develop the brand so that it was viewed positively. It required a whole new marketing strategy. - Unique selling proposition Skoda UK has responded with a new marketing strategy based on the confident slogan, the manufacturer of happy drivers.The campaigns promotional activities support the new brand position. The key messages for the campaign focus on the happy customer experience and appeal at an emotional rather than a practical level. The campaign includes: * The Fabia Cake TV advertisement. This showed that the car was full of lovely stuff with the happy music (Favorite things) in the background. * An improved and redesigned website which is e asy and fun to use. This is to appeal to a young audience. It embodies the message experience the happiness of Skoda online.Customers are able to book test drives and order brochures online. The result is that potential customers will feel a Skoda is not only a reliable and sensible car to own, it is also lovely to own. Analyzing the external opportunities and threats allows Skoda UK to pinpoint precisely how it should target its marketing messages. No other market player has driver happiness as its USP. By building on the understanding derived from the SWOT, Skoda UK has given new impetus to its campaign. At the same time, the campaign has addressed the threat of external competition by setting Skoda apart from its rivals.

CONTRACT LAW Essay Example | Topics and Well Written Essays - 2250 words

CONTRACT LAW - Essay Example According to Sir Frederick Pollock, contract is â€Å"A promise or set of promises which the law will enforce2 In the general conclusion of a contract, we can understand that various elements are essential in the creation of a contract which includes an agreement, consideration, and intention to create legal relations, form, capacity, legality and other such. â€Å"A valid contract requires: (1) an agreement; (2) an intention to create legal relations; and (3) consideration (unless the Contract is made by deed). Whilst each of these three requirements receives separate treatment, they must in reality be looked at together.3 When all these are in existence, we understand that a contract is in operation. â€Å"In addition, a contract consists of various terms, both express and implied. A term may be inserted into the contract to exclude or limit one partys liability (the so-called â€Å"small print†). A term may also be regarded as unfair. A contract may be invalidated by a mistake and where the contract has been induced by misrepresentation the innocent party may have the right to set it aside.† 4 This is an enforceable law the violation of which is considered serious offence and, thereby, requiring penalty and consequences. â€Å"If one party has made a statement to the other about the subject matter of the contract, in some systems he may become liable for breach of contract (non-performance) if what he says turns out to be incorrect.† 5 Therefore the party that violates the contract is normally bound to receive its consequences. â€Å"A non-performance which is not excused may give the aggrieved party the right to claim performance, recovery of money due, or specific performance, to claim damages, to withhold his own performance, to terminate the contract and to reduce his own performance.† 6 In this background let us consider the two cases given for discussion. To consider the first case of contract violation

Paper Topics on Russia

Paper Topics on RussiaIn the field of education, student research papers on Russia has become a necessary thing for students, to gain an understanding about Russian culture and politics. The topics that they need to research are very important for them to have a thorough knowledge about different aspects related to the culture, history, politics and people of Russia. There are certain subjects that students will have to do research on as part of their education and the main one is the modern Russia.The principal basis for doing research on this country is the study of the political situation in this country and therefore the student must conduct a study of the history of Russia before taking up the topic of their research. The student can write the paper topics on this country in the form of a report or a dissertation. Students should first of all choose the topic of their paper topic carefully so that they will be able to express their ideas clearly.The student can choose from among the various topics that they feel are suitable for their paper topics on Russia. The principal topic that they can choose from among these choices is that of the Russian language, which is important for students who are studying for the exams.The present studies conducted by many American universities will help students learn the basic and advanced theories of the Russian language. They will be taught how to pronounce Russian words and also the Russian grammar. Students also get to learn how to use the Russian alphabet in writing their papers.If the student research papers on Russia are written in the form of a dissertation, they will need to prepare the required chapters, which will consist of notes and also data. They must also learn how to use a research kit, which contains all the required documents related to the topic. This is very essential for the student if they are going to submit their paper for publication.Students will have to write the chapters about the history of Ru ssia, which should start from the time of the Moscow, before the revolution and will include the rise of the Soviet Union. They must include historical documents, photographs, maps, and photos related to the topic.Students also have to learn how to write the subject headings. It is usually called The Introduction and The Glossary of terms. They must also write their research papers on Russia according to the date of their completion and should clearly state their conclusion on the paper topics.

Apex Corporation Case Coursework Example | Topics and Well Written Essays - 1500 words

Apex Corporation Case - Coursework Example Conversely, the owners may just be satisfied with a business size that suits their managerial capabilities. Whatever the size of the business, it is the financial health that matters the most to all stakeholders (Meigs & Meigs, 10). In the given assignment, I have to assume that I am an attorney and that a client has approached me to consider whether a managerial position at Apex Corporation would be good to take up. He is already impressed with the salary and benefits they are offering but has no knowledge of accounting or finance. So I am going to have to advise him after looking at Apex’s financial statements for 2001, as the assignment criteria limits our evaluation to this year only. However we might make comparisons between the years 2000 and 2001 Analysis of Financial Statements The financial statements of a corporate enterprise, namely the income statement and the balance sheet are two of the most important summaries of the business activities that have occurred over t he last financial year. We are told that the Apex Corporation is a local manufacturing firm. The third statement that has also found to be of use to stakeholders is the Statement of Cash Flow, which shows how the firm used the cash generated in financing, investment and production activities. Negative or troubling cash flow situations are often the first sign of distress in a business, occurring long before telltale signs emerge on its income statement and balance sheet. The most common ratios that can be calculated for a corporate business entity using ratio analysis are the Current Ratio, the Debt-Equity Ratio, the Receivables Turnover, the Gross Profit percentage, the Net Profit percentage and the Inventory Turnover. This will give an analyst a good picture of the financial strength and viability of the business. Another approach would be a year to year comparison of results, using the common size income statement and balance sheets for 2000 and 2001. Calculation of Financial Rat ios Proceeding with our calculations, we first have the Current Ratio, which is calculated as: Total Current Assets / Total Current Liabilities. For Apex Corporation, this is: For Year 2000: $3,415,807/ $1,546,107= 2.21: 1. For Year 2001: $4,257,700/ $1,616,700= 3:1. So we find that Current Ratio has improved from 2.21:1 in 2000 to 3:1 in 2001. This indicates that there are now more current assets to cover current liabilities. The working capital which is defined as Total Current Assets – Total Current Liabilities, has improved from $1,869,700 in 2000 to $2,614,000 in 2001. This speaks well of the company’s short term liquidity and solvency. However, we would have to compare it to Industry Averages for the manufacturing sector to be more accurate in our perceptions (Meigs & Meigs, 943). Moving on to the Debt-Equity Ratios, the ratio of Total Debt to Total Assets can be calculated by Total Liabilities / Total Assets. For Year 2000 it is $2,296,107/ $5,615,807 or 0.41: 1 and for Year 2001 it works out to $2,466,700/$5,697,700 or 0.43:1. This means that debt was 41 cents to the dollar for each $1 of assets owned by Apex Corporation in 2000, and this increased slightly to 43 cents to the dollar in 2001. In other words we can say that each $1 of assets of Apex Corporation was financed 41percent by debt in 2000 and 59 percent by equity; this changed to 43 percent debt and 57 percent equity in 2001. Coming now to the Gross Profit Margin, this is given by: Gross Profit/ Sales x 100. For

Unanswered Questions About How to Teach Basic Essay Writing You Should Think About

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The Lost Secret of Possible Topics for a Beowulf Research Paper

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The Foolproof Research Papers on Database Management System Strategy

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