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Essay: G S Impex

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  • Subject area(s): Business essays
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  • Published: 12 September 2015*
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  • Words: 1,617 (approx)
  • Number of pages: 7 (approx)

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Company profile:
‘ G.S IMPEX is an enterprise of New Madina cycle store. It was founded in the year 2000 by Mr. Abdur Rashid and Mr. Golam Destegir. With historical roots in the bicycle spare parts business, we began designing and OEM our own bicycles in year 2000 under the brand name G.S.IMPEX.
‘ G.S.IMPEX working as the international buying house for the Madina cycle store, New Madina cycle store and Bismillah cycle store. In the same time G.S IMPEX also registered as their bicycle spare parts brand name.
‘ All imports for the show rooms done by G.S.IMPEX under the import license G.S.OVERSEAS.
‘ Their Product line – which now features a full range of mountain bikes, BMX bikes, city bikes, electric bikes and children’s bikes – has become one of the most well-known, fastest-growing and widely-accepted bicycle brands in Bangladesh.
2002: Introduced worlds cheapest mtb bicycle called ‘NANO’
2004: Introduced the ‘MASTER’ brand standard bike.
2009: Formed new company named R.S.IMPEX under the care of Mr. Syed Mahbubur Rahman. This company has introduced for the research and development of all their products and to find the new business segments.
2010: Introduced the new brand ‘Hamshaad- The Prince’.
‘ Opened new four showrooms for complete bicycle in bangshal road called Cycle Park, Cycle Point, Afreen cycle store and New Madina cycle store (kaliakoir branch).
2011-2012: Importing all world famous branded bicycle like, SPECIALISED, SCOTT, UPLAND,KELLYS for the widely grown up high end bicycle users.
(www.gsimpexbd.com)
Introduction:
‘A bad strategy will fail no matter how good your information is and lame execution will stymie a good strategy. If you do enough things poorly, you will go out of business.’- Bill Gates.
This quote of Bill gates indicates the importance of having a proper strategy for running a business with efficiency. In this modern business world it is necessary to cope up with an effective strategy. Strategy is the structure of future planning process which leads an organization to work in a system.
Mission:
Mission states the actions of the organization which are taken towards the society. It also describes the way of their specific journeys which are meant to their belief and knowledge to be spread.
Mission of G.S IMPEX:
The mission of G.S IMPEX is to serve the highest quality and most innovative bicycles at the most competitive prices.
Vision:
It describes the long term view of their organization. It also states the future plan of the organization.
Vision of G.S IMPEX:
To establish a full bicycle manufacturing plant within next five year.
Objective:
Objectives are the anticipated end result of activity. They are the things that we hope to achieve.
The objective of G.S.IMPEX is to increase their business through selling the quality products and is to innovate the highest quality cycle at the most competitive prices with more attentive and dependable customer service.
Goals:
It is the target for getting the cherished place through the profits of an organization. It also needs to have a fixed time to achieve the goal.
Core competencies:
Core competencies are the uniqueness of the products which an organization produces.
As G.S IMPEX serves the highest quality and branded bicycles at the most competitive prices; it is their competitive advantage in the particular business sphere. Their most unique product is the renowned brand of cycle ‘Specialized’. This brand defers them from the other cycle stores.
Strategy and strategic planning:
In every business it is very important to determine the strategy for running their business with efficiency. It is the designed plan to run a business. If it is not followed as a regulator the business organization would have to face so many inconveniences in the way. Strategic planning is the indication that, how, when, where and who would do the particular works in the organization.
We can describe the Planning as the four management activities. They are: Planning, Organizing, Motivating, Controlling.
Planning: It is the thoughts of doing the works by following the necessary step.
Organizing: It is the synchronization of the activities of an organization.
Motivating: The way of inspiring the plan related persons for achieving more best outputs or results for the sake of organization’s well being.
Controlling: It is the power of putting limitation and monitoring the works. Afterwards, implementing the resources as per required.
Importance of strategic planning:
‘ It helps to work in a frame.
‘ It helps everyone to do their particular works in their particular space.
‘ It removes the uncertainty in the working process.
‘ It also facilitates the control by supplying targets for performance.
There is a hierarchy of plans which leads an organization to achieve its cherished goal.
Fig: 01 (HIERARCHY OF PLANNING)
*Mission: it is the basic function of the organization through which society is being helped.
*Objectives: it is the anticipated result of the activities.
*Strategies: it determines the working process of the organization.
*Policies: These are the rules and regulation imposed by the Govt. bodies; which are needed to be followed.
*Procedures and rules: The limitations and the boundaries of the working process and sphere.
*Programs: the accommodation of the activities of the organization.
*Budgets: this the financial issue of the organization. It mentions the budgeting of the departmental work, the expenditure of day to day needs, the liquidity of the organization etc.
The issues involved in strategic planning:
There are 5 issues by Mintzberg related to strategic planning they are:
‘ Ploy
‘ Pattern
‘ Position
‘ Perspective.
Plan: Strategy is a plan – some sort of consciously intended course of action, a guideline (or set of guidelines) to deal with a situation. By this definition strategies have two essential characteristics: they are made in advance of the actions to which they apply, and they are developed consciously and purposefully.
Ploy: As plan, a strategy can be a ploy too, really just a specific man oeuvre intended to outwit an opponent or competitor.
Pattern: If strategies can be intended (whether as general plans or specific ploys), they can also be realised. In other words, defining strategy as plan is not sufficient; we also need a definition that encompasses the resulting behaviour: Strategy is a pattern – specifically, a pattern in a stream of actions. Strategy is consistency in behaviour, whether or not intended. The definitions of strategy as plan and pattern can be quite independent of one another: plans may go unrealised, while patterns may appear without preconception.
Plans are intended strategy, whereas patterns are realised strategy; from this we can distinguish deliberate strategies, where intentions that existed previously were realised, and emergent strategies where patterns developed in the absence of intentions, or despite them.
Position: Strategy is a position – specifically a means of locating an organisation in an “environment”. By this definition strategy becomes the mediating force, or “match”, between organisation and environment, that is, between the internal and the external context.
Perspective: Strategy is a perspective – its content consisting not just of a chosen position, but of an ingrained way of perceiving the world. Strategy in this respect is to the organisation what personality is to the individual. What is of key importance is that strategy is a perspective shared by members of an organisation, through their intentions and / or by their actions. In effect, when we talk of strategy in this context, we are entering the realm of the collective mind – individuals united by common thinking and / or behaviour. (www.mintzbergs-5-ps-for-strategy)
Explanation of different planning techniques:
There are three types of planning techniques. They are: BCG Matrix, SPACE matrix, Ansoff’s matrix.
BCG MATRIX:
This matrix classifies the company’s products in term of potential cash generation and cash expenditure requirements.
There are four catagories of BCG matrix. We have mentioned them through a chart.
Stars: It indicates the high capital expenditure in order to maintain the high market growth rate. G.S IMPEX has already invested high capital to bring out the high quality cycles to maintain the high market growth rate.
Cash cows: Cash requires little capital expenditure and generate high cash income it can be used to invest for stars.
Question marks: Question marks are the brands that require much closer consideration. They hold low market share in fast growing markets consuming large amount of cash and incurring losses. It has potential to gain market share and become a star, which would later become cash cow.
Dogs: Dogs hold low market share compared to competitors and operate in a slowly growing market. In general, they are not worth investing in because they generate low or negative cash returns. (www.bcg-matrix-growth-share)
SPACE MATRIX:
SPACE(S- strategic; P- positioning; AC-action; E- Evaluation) is a management tool used to analyze a company. It is used to determine what type of strategy a company should undertake. It focuses on strategy formulation especially as related to the competitive position of an organization.
SPACE matrix has been divided into four parts. They are:
‘ Aggressive(+,+)
‘ Conservative(-,+)
‘ Defensive(-,-)
‘ Competitive(+,-)
SPACE matrix has two dimensions. 1. Internal strategic dimension, 2. External strategic dimension.
These dimensions indicate four positions of any company. They are:
‘ Internal dimension: Financial Strength, Competitive advantage
‘ External dimension: Environmental stability, Industrial strength.
(Note: The graph has been attached with the hard copy of the report.)
Financial strength:
‘ Return on investment
‘ Leverage
‘ Turn over
‘ Liquidity
‘ Cash flow
‘ Working capital
Competitive advantage:
‘ Speed of innovation
‘ Market niche position
‘ Customer loyalty
‘ Product quality
‘ Market share
‘ Product life cycle
Environmental stability:
‘ Economic condition
‘ GDP growth
‘ Inflation rate
‘ Technological changes
‘ Barriers to entry
‘ Competitive pressure
‘ Industry growth potential
Industry strength:
‘ Growth potential
‘ Profit potential
‘ Financial stability
‘ Resource utilization
‘ Capital intensity
‘ Ease of entry into market
‘ Productivity, capacity utilization
‘ Manufacture’s bargaining power
ANSOFF’S MATRIX:
Ansoff(1987) drew up

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