Strategy Formulation/ Recommendation
We therefore conclude that the best solution to the problem is alternative course of action number 3 which is “Continue delivering more relevant and attractive products and services. And expand research and development function, strategic insights and operations innovations” because Henry Sy and John Gokongwei company is on the top and successful but they need to come up with a new developments that will cater the taste and preferences of the customer.
Plan of Action
1. Determine the demand of the people and assess the opinion of the public
2. Produce product that are distinct especially to competitors that serve as an edge to others
3. Allocate the funds on time for the Research and Development purposes.
Alternative Courses of Action
1. Formulate new strategies that the company can use for the possible changes
Advantages:
Cope up with the possible adjustment that they may encounter in the future
Disadvantages:
The effect may cause downfall
Increase the risk in implementing new strategies
2. Seek advice from experts
Advantages:
*New knowledge and strategies that can be use for future operations
*Two head is better than one
Disadvantages:
*Large amount would be expended
*If the competitors hire the same person or adviser there is a possibility that the idea or strategy is the same.
3. Continue delivering more relevant and attractive products and services. And expand research and development function, strategic insights and operations innovations
Advantages:
*Attract more customer
*Generate more revenue
*They innovate and improve their products and services
Disadvantages:
*It will be costly to the company and budget allocated to Research and Development increase
Areas of Consideration
(SWOT Analysis)
Contingency Plan
1. Focus on what is already in the market and improve other area like providing services that will satisfy the customers needs and wants
2. Reduce the budget allocated for research and development and assign it to more useful functions.
3. Pursue other alternative course of action that will work for the long run considering the risk.
Potential Problems
1. What if expected outcome in producing a particular product is not attained?
2. What if investing so much in research and development will not improve the innovation of the products?
3.What if alternative course of action will work in a short length of time?
Henry Sy and John Gokongwei
Threats
*Too much pressure is automatically bestowed upon their children
*Emerging of new companies
Strength
*Both Henry Sy and John Gokongwei are health conscious.
*both have good business strategies
*the “innovation technique” they presented
* they are both optimistic.
*they are both competitive
*These two business tycoons believe that Learning is a never ending process
*their affection towards fellow Filipino people
*They have good intuition/visions towards opportunities coupled with enduring faith in the creativity and resilience of the entire Filipino national community.
Weaknesses
*They devoted so much of their time doing their businesses thus they have a limited social life
*Death of the two tycoons
Opportunities
*Their businesses created thousands of job openings that eventually solved unemployment problems in the country.
*They serve as an inspiration to ordinary people to pursue their dreams/goals as well as to their fellow entrepreneurs.
*They do community services since both have an interest in people and doing it overwhelms their competitive instinct
Bautista, Richelle D.
Danoso, John Christopher
Dizon, Sean Andrew R.
Central Problem
How can the company adopt to the changes if the two senior tycoons will retire or vacate the position?
Objective
To maintain the highest rank or position in the market.
Vision Statement:
Mission Statement:
History
John Gokongwei
Ranked #1 riches Filipino in 2013 by Forbes
Honors/Awards/Recognition
Henry Sy
The Father of the Philippine retailer
Henry Sy and family ranked #1 riches Filipino in 2013 by Forbes
Management Man of the Year" by the Makati Business Club – 1999
Honorary Doctorate in Business Management by De La Salle University in January 1999
40 Richest Filipinos of 2008
Forbes magazine Heroes of Philanthropy 2009
1st Chinese-Filipino recipient of the PCE Big Brother of Filipino Entrepreneurs award (2006)
1st Chinese-Filipino recipient of the PRA President's Award (2005)
design by Dóri Sirály for Prezi