Entering HVAC Market Assignment Example | Topics and Well Written Essays - 3000 words

Entering HVAC Market - Assignment Example Keeping in mind the recent merger with the firm providing technological expertise in wireless communications the report outlines Goals and Plans needed to be devised by the firm, ways in which it can innovate in order to capture the new market the firm is venturing into, needs as ways to train employees and emphasizes the importance of strategic leadership. This report should be helpful to prepare the firm for a change and reorganizing it needs in order to survive the HVAC market. It outlines ways to innovate and brings forth the innovation process. It brings into account organizational behaviors and motivation factors which are beneficial to the company. It also provides an effective model for the sequence of changes. In view of the recent merger of the firm providing security system and our venture into the area of Eco-Friendly HVAC Systems a change in the organizational behaviour is in order. To make our company goal directed and structured activities such as Planning, Organising, Controlling and Leading must be rationalized. Our operations are now just not restricted to providing IT network equipment like LAN's and Firewalls. The merger has brought in the expertise in wireless technologies and thus broadened the horizon. Thus the foremost essential part of the strategic itinerary is to setup the goal and device a plan to achieve the set goal. A bottom up strategy for devising a mission statement is advisable. Firstly specific, measurable targets should be set up for each individual and departments forming the operational goals. Tactical goals should be conveyed to the middle management aiding the functions of major divisions of the firms. The senior management should be aware about short term and long term goals about the position of the firm in the market in future. Finally a Mission Statement has to be devised to be presented to the external players depicting the overall intent of the firm. In order to achieve these goals a particular strategy or a long term course of action needs to be in place. A few success indicators and corresponding strategic enablers must be considered in this context. Market Penetration Agility, Market Share Momentum, Rate of Return Factor and Shareholder Value Growth must be measured in terms of our technology standards meeting the market requirements, differentiation and compelling competitive advantage, strength relative to other economic value players (customers, competitors, suppliers, and channel members) and Proactive CRM, support, operational excellence, derivative products respectively.The Management By Objectives (MBO) approach is the one most likely to provide beneficial results. The following figure explains the working of the MBO approach. The Management By Objective approach:: Managerial Planning and Goal Setting. -Daft and Marcic 2008 Three approaches might be considered while developing a strategy to enter the new market of Eco-Friendly HVAC Systems production: The Position approach, Resources approach or the Opportunistic approach.