The Issue of Performance Measurement Essay Example | Topics and Well Written Essays - 2000 words

The Issue of Performance Measurement - Essay ExampleThis report card seeks to address the passing of measurement within the context of SWOT, PESTEL and Porters Five Forces Analysis in response to Jengo Limited. The paper further illuminates on how budgeting would benefit Jengo Ltds in planning and controlling its inventory, recruitment, and cash worry activities. Finally, it zeroes on how a balanced scorecard approach to measuring performance would benefit this company. SWOT analysis loosely speaking, SWOT analysis is used to evaluate and aid in project formulation and strategic plans (Bohm 2008, p. 3). moreover like Bohm notes, a SWOT analysis should be used in mapping out an agreements Strengths and Weaknesses of the products and services and assess the extent to which they are in tandem and how they could possibly be improved. beyond this, SWOT analysis is used to reflect on the Opportunities and Threats exposed by information accrued commonly through evaluation of the exte rnal environment and through comparative studies (Bohm 2008, p. 3, Habour 1997, p. 38). POSITIVE NEGATIVE INTERNAL Strengths 1. financially sound with good profit margins 2. An established name among customers 3. Offers quick modern services 4. Initiates Brand strategies 5. some distribution channels 6. offers long-lasting, fashionable clothes by a variety of established designers 7. Sound management Weaknesses 1. Few branches across the United commonwealth 2. Poor planning in terms of staffing and training 3. integrating of operations worldwide 4. High prices 5. No product differentiation 6. Poor planning in budgeting and funding EXTERNAL Opportunities 1. Emerging Markets in other parts of the United Kingdom and elsewhere 2. A effect of interested companies to be shareholders including palisade Plc 3. Can use e-marketing strategy to further enhance market standstill 4. Support from Palisade Plc Threats 1. Stiff Competition from other clothing furrow providers in the United Ki ngdom 2. Competition from similar Business offering the same services at cheaper prices 3. Government Regulation business overregulated Porters Five Forces Analysis of Jengo This framework was developed by Michael Porter. The tool essentially enables businesses to the great unwashed with dynamic markets, calculate competitive ground and make decisions regarding entering target markets successfully (Friedman 1999, p. 5, Hoffman 2001). Further, it enables in identifying partner as wholesome as implications that joint ventures whitethorn pose (Bradford & Duncan 1999). This is done by evaluating the following five key areas as espoused by Porter New Entrants At the moment for Jengo, there depend to be many potence businesses that may want to venture into clothing, fashion, and design business. Buyers Power The buyers that Jengo has to seem to be solid. However, they seem to complain about prices. Alternatives should be provided since they may shift their loyalty. Substitute Products and Services Certainly, there are alternatives to what Jango does and this may invite donors to look elsewhere. Power of Suppliers The suppliers for Jengo are few and this means that they determine a great deal especially in strategy formulation within the company. Current Competition Competition does exist as there are many companies who offer the same products even at lower prices.