Contribute To Strategic DirectionEssay Preview: Contribute To Strategic DirectionReport this essayActivity 1.1Paxar Corporation is a global leader in providing innovative identification and tracking solutions to retailers, apparel manufacturers and related markets. Paxar manufacture its own products in warehouses across the globe and distribute to a wide range of clients offering a complete package in hardware, software and support. . We can begin to assess the nature of the environment in which Paxar Corp. operates in by analysing the three key dimensions of dynamism, complexity and unpredictability.
DynamismIn the manufacture and supply of tracking solutions, eg. barcode printers, software, scanners, consumables etc. Paxar corp. sustain an increasing role in a high-tech battle against counterfeiting and theft. The intensity and frequency of change is high. As a result, we compete in a highly Dynamic environment.
This is due to the frequent changes in technology, which affect the industry. Changes are required to keep up with this fast paced environment forcing manufacturers like Paxar to come up with new solutions more frequently to be in a position to keep up with competitors.
ComplexityPaxar Corp. manufactures a wide range of products, which it distributes to an extensive number of markets, experiencing high levels of complexity. Paxar offers design and manufacture of tickets, tags and labels, and provides the technology–including the printers, software control systems and necessary supplies–for retail product identification. These products and services are used in the complete distribution chain from warehouse storage to retail and point of sale.
UnpredictabilityPaxar Corp. is in a highly unpredictable environment. Backlog is not a reliable indicator of future sales activity because more than 80 percent of annual sales consist of orders that the Company typically fills within one month of receipt. The balance of the orders is for products that are ordered to individual customer specifications for delivery within two to three months.
The fact that we are leaders in tracking and identification systems and in most cases set the trend for competitors to follow helps in some instances to plan ahead. Key accounts like WalMart in the US and Australia Post, Coles Myer and Nike in Australia are requralry reviewed for new requirements and required changes are made to meet them. Paxar works together with these larger accounts to design/manufacture new hardware and software to keep up with changes.
ConclusionFrequent changes in technology and the production of a complex product and service means that Paxar Corporation operates in a highly dynamic and complex environment as it competes, domestically and internationally, with a number of medium to large companies. Many of the factors that affect the Companys business and operations involve risk and uncertainty. Risks associated with significant international operations and Company planning to successfully develop and introduce new products, could have adverse affects to its financial condition and results of operations.
These changes can make it difficult to make effective plans with less certainty for the future. Being ahead of the competitors with constant communications with key accounts will be crucial to continuous success and to future plans. Information will be everything and working with key accounts Paxar Corporation can make future outcomes more predictable.
Activity 1.2The emergence of the global market place, influx of foreign competitors, technology substitution, rapid shifts in customers needs, wants and attitudes, and governmental and social changes, means that Paxar Corporation operates in a complex and discontinuous environment. Changes are taking place at a rapid rate and the future is difficult to predict. Production efficiency, marketing effectiveness and product responsiveness are all important determinants of our success and their relative importance are constantly adjusted by management in response to changes in the marketplace.
Our competitiveness and profitability levels will depend on how well we match our strategies and capabilities to the environment in which we operate. To be successful in a discontinuous environment we will need to be ready to adjust our historical position and must continually look at the new opportunities that may arise in the environment. Paxar is prepared to move to where it perceives the profits to be.
Paxar Corporation seeks to progressively improve their products and services in anticipation of the evolving needs of their customers. Managements ongoing strategy includes implementing process improvements to reduce costs in all of its manufacturing facilities, re-deploying assets to balance production capacity with customer demand and expanding production in new and emerging markets.
Activity 1.3Mission and GoalsOur reinvigorated strategic planning process translates our goals and objectives into actionable and measurable activities in order to track their progress.
Developing strategic plans has helped Paxar Corporation identify ways in which it can compete in the future by maintaining a strategic fit between its goals and capabilities as well as its changing marketing opportunities. To adapt to the changing global environment, Paxar initiated a broad strategic plan to improve responsiveness to customer needs, accelerate innovation and drive growth. Paxars mission is to be the leading provider of identification solutions to the retail and apparel industry worldwide offering new ideas and products, with quality, reliability and value. To achieve this goal, five winning strategies have been implemented that are driving global activities. These are:
Paxar’s Strategy to Market In-Home
Paxar has engaged in strategic planning sessions in order to develop and implement key new products and services for its customers of all colors in our stores.
Paxar is also exploring ways to expand its direct and indirect partnership with Bumble and Bumble Direct, which together have been named as the “Five Best Marketing Companies of 2015”. Based on our ongoing focus to create an engaging, engaging and productive world, these initiatives continue. Together we have conducted an extensive review of many successful and promising partnerships we have engaged. Although the focus on strategic planning in the US and Europe has generated considerable attention, this focus is somewhat premature because of the nature of this approach. Moreover, because of the lack of a coordinated, competitive and innovative business model, we are required to coordinate an intense search of potential customers and, if our primary objectives are to drive engagement, we must work to be the best possible solution to customers before the launch of our next-generation brands and, if we are successful in this task, to win a key customer base. The focus on strategic planning in the US has provided the impetus for us to develop a more collaborative approach. We are also continuing to focus our resources on developing an effective and dynamic marketplace across North America with an emphasis on the expansion of direct marketing to promote our brand. The impact of our initiatives is, we believe, to be most profound in bringing in new business for our brand, especially among non-business shoppers.
As a result, Paxar can focus on a more focused approach to the marketing of its retail and apparel partners and, in some cases, on its broader efforts to strengthen retail sales.
What are our key strategic initiatives and how are they aligned?
First, we developed our strategy in the early days of our launch. Each time we engaged with our partners in a strategic plan, we learned how our focus in the first phase would affect the overall strategy. Next, we reviewed the business, market and growth trajectory of our partner-focused strategies to determine what they needed to achieve at the strategic stage and why we couldn’t. When we got to its conclusion, we found that our partner approach to the market development and investment of major brands, particularly in the US, had done a great job of driving growth for us in many areas. We also learned valuable lessons from these investments and found that we must continue to develop and operate a more inclusive brand management system, which, once implemented, has improved our overall strategy. At the strategic stage, we are investing in the launch of our most popular brands, but also in expanding the breadth of our strategic plans so that we can offer our customers tailored products and services they will want. Finally, we seek to grow our partnerships with our partners through our partnership with Paxar. Paxar’s Strategy to Market In-Home
Paxar has engaged in strategic planning sessions in order to develop and implement key new products and services for its customers of all colors in our stores.
Paxar is also exploring ways to expand its direct and indirect partnership with Bumble and Bumble Direct, which together have been named as the “Five Best Marketing Companies of 2015”. Based on our ongoing focus to create an engaging, engaging and productive world, these initiatives continue. Together we have conducted an extensive review of many successful and promising partnerships we have engaged. Although the focus on strategic planning in the US and Europe has generated considerable attention, this focus is somewhat premature because of the nature of this approach. Moreover, because of the lack of a coordinated, competitive and innovative business model, we are required to coordinate an intense search of potential customers and, if our primary objectives are to drive engagement, we must work to be the best possible solution to customers before the launch of our next-generation brands and, if we are successful in this task, to win a key customer base. The focus on strategic planning in the US has provided the impetus for us to develop a more collaborative approach. We are also continuing to focus our resources on developing an effective and dynamic marketplace across North America with an emphasis on the expansion of direct marketing to promote our brand. The impact of our initiatives is, we believe, to be most profound in bringing in new business for our brand, especially among non-business shoppers.
As a result, Paxar can focus on a more focused approach to the marketing of its retail and apparel partners and, in some cases, on its broader efforts to strengthen retail sales.
What are our key strategic initiatives and how are they aligned?
First, we developed our strategy in the early days of our launch. Each time we engaged with our partners in a strategic plan, we learned how our focus in the first phase would affect the overall strategy. Next, we reviewed the business, market and growth trajectory of our partner-focused strategies to determine what they needed to achieve at the strategic stage and why we couldn’t. When we got to its conclusion, we found that our partner approach to the market development and investment of major brands, particularly in the US, had done a great job of driving growth for us in many areas. We also learned valuable lessons from these investments and found that we must continue to develop and operate a more inclusive brand management system, which, once implemented, has improved our overall strategy. At the strategic stage, we are investing in the launch of our most popular brands, but also in expanding the breadth of our strategic plans so that we can offer our customers tailored products and services they will want. Finally, we seek to grow our partnerships with our partners through our partnership with Paxar. * Responsiveness — to win by being responsive to customers needs every day, everywhere. The goal is for Paxar to be the first choice of all their customers.
* Relationships — to deepen relationships with customers and grow customer base by providing global solutions that utilize the full breadth of Paxars capabilities.
* Innovation — to be the “first to market” with meaningful innovations.* Information — to offer customers a truly global, superior information management capability to easily access, monitor and track orders