An auto company C Ltd. is facing a problem of declining marketshare due to increased competition from other new and existingplayers in the market. Its competitors are introducing lower pricedmodels for mass consumers who are price sensitive. For qualityconscious consumers, the company is introducing new models withadded features and new technological advancements.Questions1. Prepare a model business plan for C Ltd. to meet the existingchallenge. You need not be very specific about quantitativeparameters. You may specify which type of plan you arepreparing.2. Identify the limitations of such plans.3. How will you seek to remove these limitations?
Answers
Answer:
Using various resources such as your school Library or the internet and discussions with your teacher, trace the evolutionary stages of any one animal, say horse.
Answer:
Explanation:
It would be advisable to formulate a strategy in such a situation. A approach is a one-time plan of use. Combating competition in the market is usually done.
The limitations are:
1) Rigidity: in nature, planning is rigid. Rigidity generates barriers to achieving goals.
2) Unable to deal with the dynamic environment: a dynamic and uncertain business environment. Because planning can not foresee the future, this may result in failure to achieve goals.
3) Costly: planning is an expensive process as it involves enormous money and time costs in planning. The benefit derived from the plan is sometimes lower than the cost.
4) Time consuming: planning is a time-consuming task, involving a great deal of research and assessment.
Following measures must be taken to remove these constraints:
1) Planning must be carried out in perspective of the vibrant company setting. 2) Some degree of flexibility should be provided by the plans
3) The scheduling costs and time must be reduced.