Thursday, October 17, 2019
Norton Lilly International Case Study Example | Topics and Well Written Essays - 1000 words
Norton Lilly International - Case Study Example The agency's mission is to restore operational efficiency thereby helping to increase its profitability. The company sort to achieve this mission by pursuing growth which would see it double its size (Burton and Gamble 368). In addition, the agency had an objective of ensuring a smooth transition as it was on the verge of being passed over to the next generation of in the family (Burton and Gamble 368). Basically, the company wanted to have a turnaround strategy which would ensure both operational efficiency and profitability. In the first stage of the endeavor to bring about efficiency at the agency required the development of a strategy. The strategy was based on ensuring the company achieves sustainable competitive advantage and could be based on five different perspectives that include; Dominant Industry Economic Features, Five Forces Analysis, Competitive Analysis, SWOT and PESTEL and Financial. Generic strategies may also form the basis for crafting a business strategy. A business can rely on a combination of perspectives or all of them. Based on the dominant industry perspective economic features, Burton first role in developing the strategy was to assess the business to identify the areas that could help the company get a strong foundation for execution (Burton and Gamble 370). Under this approach, core business areas are assessed and addressed given that they support other parts of the company. This is also incongruent with the competitive advantage approach which calls for one to assess the stren gths and maximize them to ensure achieve the mission set out. The crafting of the strategy execution was also based on PESTEL analysis whichÃ postulates that a strategy must assess the social perceptions of the people involved (Goodstein and Burke 5). Consequently, Burton understood that he was bringing change among a group of people who were equally competent and therefore he had to introduce ideas hat could be easily accepted and therefore he chose an incremental approach. The other components of PESTEL require the political, environmental, technological, economic and legal macro-environment within which a business is conducted given that they may affect its growth.