Advance strategic management. Consumerism Essay

1. What is consumerism?DEFINITIONConsumerism target be defined in two antithetical skillful smarts1. Consumerism is a theory which states that purchase and consuming dear(p)s and services in a large amount argon more than beneficial to the economy. Thus this theory appreciates stepwise kale consumption of goods and services.2. Consumerism means consumer protective c everyplaceing. It is a movement or indemnity that protects the interests of consumers via truthful packaging, honest advertisement, cleansed sentry duty normals and product guarantees. Consumerism involves policies that regulate methods, products and services, standards, selling and advertise in the interests of the consumers.These protect buyers from defective products, misguide advertising, unfair practices etcetera Such policies can be mandatory, legislative, institutional or voluntarily accepted by the industry. e.g., consumers interests can be harmed by mispricing, adulteration, artificial demand etc .IMPORTANCEConsumerism encourages economic harvest by providing good quality goods and services to the customers. change magnitude consumption by the customers shows the economic growth level. Increased demand would lead to improverd production thus raising the glaring domestic production.It helps to make informed decisions by dint of truthful advertising, environmental and safety standard laws. Thus consumerism cans breastplate to buyers.Implementation of consumer protection laws shield consumers against exploitation, discourage anti-social activities and unfair look at practices, provide complete and latest reading to the customer which aids in purchase decision making service.2. What IS STRATEGY? wherefore it is important?Choose a connection, teach its outline and then make its belligerent analysis. DEFINITION1. outline is military control high plan used by forethought to stake out securities industry position, wear its operations, attract and please cust omers, com kisse successfully and chance upon organizational objectives.2. It is a process through which a association saturated its resources on optimal opportunities to achieve short(p) term and long term goals and opposite competitive vantages. IMPORTANCE schema answers troika central questions about the go with (i) where are we now? (ii) where do we want to go? (iii) how will we get there? Strategy tells about the current position of the companion, its forthcoming plans and the approaches it will follow to achieve its objectives.Strategy encompasses actions to attract customers, actions to deliver value at optimal price and cost equilibrium, actions to react to changing trade environment, approaches to pursue obtain adapted opportunities and plans to gain competitive edge.A hefty schema makes a federation typical and provides sustainable and durable competitive payoff in creating, producing, distri entirelying and marketing the companys products/services.An effec tive schema results in outgo possible business performance in terms of fiscal profitability and market position.Strategies are desperately needed to level the activities of the company in a way that its goals and objectives are achieved in a right way through right approaches and at the right time.An excellent schema that is famously utilise is a good monetary standard to evaluate the management competencies and performance.A strategy- centraliseed company has a strong performance, profitable earnings, tax revenue growth and favourable return on investment.COMPANY COLGATE-PALMOLIVEColgate Palmolive has $17.1 billion consumer products and serves people more or less the world with ren testifyed brands by offering four types of products/services oral wangle, face-to-face care, home care and pet viands products. This company operates globally and approximately 75 percent of its sales are from outside(a) the home country while absolute majority of its products are manufac tured in its own facilities.Colgate-Palmolive 2011 to 2015 StrategyThe chief(prenominal) focus of Colgate-Palmolives 5 year strategy is on people, performance and planet with measurable goals in accordance with the companys business objectives. 1. Promoting Healthier die hardsThe objective was to promote wellness and wellness in order to downplay employee health risks by 15 percent, to achieve 5 percent squeezed health costs by improving on time diagnosis and treatment of diseases and to focus on safety of employees.2. Contributing to The Communities Where We Live and WorkThis parameter of the strategy aims to increase the bear upon of company on the corporation by $300 one thousand thousand. For this purpose five objectives were set which will provide greater focus to the companys theatrical role towards the community.Partnership is done with dental professions to improve the oral care of the community. A computer programme of Bright Smiles, Bright Futures is scheduled to polish off 1 billion children by 2020. To provide hand-washing awareness to over 50 meg households. To work with 250 thousand veterinarians to educate pet owners and provide over $100 million pet food. Continue to provide companys products after natural disasters and to involve more volunteers in this community program.3. Delivering Products That assault Consumers and Respect Our PlanetThe objective is to increase the sustainability of all the products by (i) ensuring that ingredients continue to admit the standards of safety, health and quality (ii) reduction the impact of environment on the products and packaging. This is achieved by change magnitude the use of recycled contents and more role of sustainable satisfyings.4. Making Every downfall of Water CountThe strategy aims to reduce the consumption of irrigate during manufacturing by 24 percent. The objective also aims to take stairs to promote access of clean water and water conversation awareness among over two billion consumers.5. Reducing Our disturb on Climate and EnvironmentThe designing was to reduce energy consumption and carbon paper emission during the manufacturing process by 20 percent.COMPETITIVE ANALYSISThe verbalize strategy of the company can be analysed on the bases of three broad terms. The following stated questions will determine the goodness of the strategy implemented by Colgate-Palmolive i.e. whether the strategy was able to improve the market position and financial performance of the company or not, how good was the company at handling the environmental dynamics and gaining competitive advantage. 1. How well does the strategy fits with the companys situation?The main competitor of Colgate-Palmolive is Procter & Gamble with the similar strategy of sustaining products and environmental safety but Colgate-Palmolive has got a competitive advantage in the year 2011 and 2012 by having strong presence in personal care products and uphill markets in different geograp hical areas. imputable to broad operation bases globally thecompany has got the strength to lead the market.2. Is the strategy help the company achieve a sustainable competitive advantage?Yes the strategy implemented by the company has made it to be a global leader in oral care. Colgate-Palmolives market is the wholeness largest market by value shares and is insulated from the downturns. The companys strategy focuses to meet market challenges, committed to increase product sustainability and focuses on segmentation by function. Colgate-Palmolive has improved sustainability compose in 24 percent of products.3. Is the strategy helping in better company performance?The strategy has helped the company in attaining better financial and ethical performance. Colgate-Palmolive has shown best environmental performance in gone years and is able to sustain its past times competitive advantage. The company had $17.1 billion intercontinental sales in 2012.Its gross profit margin was 58.4 p ercent in fourthly quarter of 2012. Colgate-Palmolive win 100% ordinance of Conduct Certification, stood No. 1 in beauty and personal care products and was announced No. 1 at around Admired Companies in 2013 by caboodle human being. Colgate-Palmolive had operating profit of $4.02 million in 2012. 35 percent of its packaging material is from the recycled material thus fulfilling its goals of safeguarding the environment and reducing costs.Three different products of Colgate-Palmolive have won title of Product of the Year 2012 and Ethisphere time has given the company title of 2013 Worlds Most Ethical Companies US E.P.A declared the company to be knowing for the Environment for many of its home care products. The above analysis shows the strengths and the competitive advantage earned by the company out-of-pocket to its best performance and leading activities. for sure the above mentioned performance is only come-at-able because of an excellent strategy and its excellent ex ecution. _________________________________________