Business Strategy for Company Security

2284 words (9 pages) Essay in Business Strategy

23/09/19 Business Strategy Reference this

Disclaimer: This work has been submitted by a student. This is not an example of the work produced by our Essay Writing Service. You can view samples of our professional work here.

Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays.

ABOUT THE COMPANY

Armourguard security is a New Zealand based organization which was founded in the year 1939. The company which provides guard services along with installing and monitoring of the security services is headquartered at Auckland in New Zealand. The company vision is to provide ‘100% safety for protected places from them’ and they are also offering high quality of service in their business with the help of using high technology equipment, train employees, better management to make these service more safe for their customers.  The new strategies for their business are that they can bring new product as security locker and start to give security service at Australia as well. (Mathekga, 2016)

PESTEL

Technology Factors-

As the company provides mobile security and other online security features, it is important for it to have the latest technological tools and devices. Locks, safes, mechanical and electronic vehicle security items, retail security frameworks and even fences what’s more, hindrances are among the items that consistently experience improvement and enhancement.. Aspects, for example, R&D movement, innovation motivating forces and the rate of mechanical change are incorporated into innovative components. They can decide barriers to entry least effective creation level and impact outsourcing choices. Moreover, mechanical movements can influence costs, quality and prompt advancement. The utilization of electronic security items offering Internet Protocol (IP) information transmission is expanding, yet development in this part is being kept down by a absence of comprehension among clients and by an absence of skill on the some portion of some installers. (Caetano, 2017).

            Economic-

These variables include financial development, loan fees, trade rates and the swelling rate. These components have major affect how business works and decide. For instance, loan fee influences an association’s expenses of capital and along these lines to what degree a business develops and extends. Trade rates influence the expenses of sending out merchandise and the supply and cost of imported products in an economy. In year 2001, a reduction was seen in demand for hotel security products, such as locking systems and room safes. This demand has now improved. Insurance agencies affect the security by making conditions in their arrangements and by advertising rebates to clients utilizing particular kinds of hardware. This is significant to the vehicle security advertise, and also to the market for physical and electronic security.

Social Cultural Factors-

It shows that atmosphere, culture and the conditions of the workplace where the employees will work, which need to be positive and fit for work. It consist community it could be related to workplace culture or outside people. Trends in social components influence the interest for an organization’s items and how the organization works. Organization may change different administration techniques to adjust to these social trends. National specialists have struck the correct harmony between security and assurance. In New Zealand, the overall population has been exceptionally tolerant of the utilization of CCTV cameras, tolerating (in general) that their advantages legitimize the interruption of security. However, open acknowledgment still has to be borne as a primary concern when situating new cameras. (Ahmed, Shah, & Soomro, 2016).

Political-

The company is service based which need to be instant. The industry favors speedy services. It means the workplace culture, facilities etc. Political variables include corporate zones; for example, assess arrangement, work law and natural law. It likewise incorporates merchandise and enterprises which the administration needs to provide or be provided. Therefore, government has great influence on the health, education and infrastructure of a nation. Neighborhood Wardens or Street Wardens have been introduced in many areas of New Zealand, and there is considerable scope for more contracts for the private security industry. The concept of Neighborhood Wardens has been judged successful by the Office of the Deputy Prime Minister Neighborhood Renewal Unit, which is helping to finance some of the schemes between 2000 and 2005 (Al-Jabi, Muhannad, & Diab, 2017). While researching on this factor I got some information about organization like in which part the things to be improved like machines, staff, products and many others which will help to organization to reach their future goal.

            Quantitative Analysis

PRIMARY RESEARCH

Employees- Questionnaires have been filled by them to review the types of work conditions and services. I made a meeting plan with employees and also with one ex- employees of this company to get the know the internal environment of this organization about the behavior of the staff, how much they understand to each other and many other.

Customers- They provide sufficient information on the quality of security services provided. By doing survey with customers I also got some good information from customers, employees and ex- employee. In this case I have got some information which will be totally helpful for this restaurant and also for improving the status of the existing business. It is very hard to ask some questions to every customer for the survey but I have done 5 customers survey while spending time on researching in this company.

Suppliers- They provide the technology and tools for the security services. I have also made some questionnaire for the supplier which is basis on credit record, dealing with this organization and some other. But the suppliers were busy in their work so I did not make any meeting with them. But I called them for survey after getting approval from my manager.  I talked 8-9 minutes with four suppliers and both were very kind and they did not hesitate to give the answers of any questions.

In this research I have found some analytical tools for the improvement of this business

Because without analytical tools this business will not reach to their goal. They have to be set some goals for increasing the profit. By using analytical goal this company get to know where they stand in the market, also know about their strength weakness opportunities and threats.

Analytical tool for variation

  • Steeple
  • Pestle
  • Ansoff model
  • Mckinesy 7s models
  • Bench marking
  • SWOT
  • BCG  matrix
  • Competitors analysis

These are the most powerful and important for any organization to make a best strategic planning. These tools will help to organization for achieving their future goals. The researcher has chosen SWOT analysis and Ansoff model for analyzing the environmental factor.

Analyzing through SWOT ANALYSIS

Strengths

The company enjoys a huge market share and has a monopoly in the country in terms of security services. It makes use of latest technology to provide security services to the customers. The staff of the company is well trained to avoid hazards.

Weaknesses

According to researchers, installing latest security software and tools cost a lot of investment to the company.

Opportunities

Money can be saved by using cloud computing to store private data of users. It can make use of big Data to enhance the business and have a competitive advantage (Harrison, 2015).

Threats

Hackers are getting smarter which may pose security threats to the company’s services. Natural accidents such as earthquake, fire, etc may cause a damage to the services and property (Palmer, 2015).

Analyzing through Ansoff matrix

On Market penetration, it has been found through the survey, that the customers appreciate the reliable services of the company and opt largely for its alarm and property security services. On Market development front, the company needs to bring about more awareness about its services among the customers so that more customers opt for its security services. On the product development front, the company needs to provided added security to the data of the users and organizations by making use of latest technology and providing them with safety vaults for data. In diversification, the company may look at providing safe and secure parking services to the users to increase its sales and profits.

Findings: –

Company has a good reputation and bonding with agents or suppliers and with their strategic plan they can achieve goals and their aims. This institute using good technology with experienced staff. The institute has high rated technology. Employees love to have multi culture environment.

Suggestions: –

  • Armourguard have good relationship and bonding with contractors and they should arrange services  in overseas. So, they can get service contracts from these countries such as China, Europe, Sri Lanka, Russia and many other countries.
  • Armourguards should reduce the price in noise control services to be consistence in the market and expert workers should be appointed to get the customer’s issues resolved. The company is going well, and has very good staff in top management, administration staff and their colleagues. However, company can also use technology like GPS in each vehicle, latest smart phones and up-to-date software. They must do seminars in other countries so that they can get clients from other international countries.

R Square:

R-Square – which is the coefficient of determination, shows how the data are to the fitted regression line. Here it is 0.903, that is, 90%, which is a very good fit. In other words, 90% of the variation in quantity sold is explained by the independent variables, price and advertising.

Significance F and P-Values:

Significance F is 0.030. Since this is less than 0.05, the results are reliable, or, statistically significant. All P-values are also below 0.020

The data shown is strong to not reject the null hypothesis, that is, there is no significant correlation existing between total revenue and profit.

Coefficients:

The regression line is: y = Quantity Sold – (Price + Advertising) = 6805.646 – (917.999 + 1.198). In other words, for each unit increase in price, quantity sold decreases with 917.999 units. But, for each unit increase in advertising, quantity sold increases with 1.198units. This is good information.

If we are seeking a forecast and asumme that price equals $4.50 and advertising equals $2800, we might be able to achieve a quantity sold of 6805.646-917.999

* 4.50 + 1.198* 2800 = 6029.166

Residuals:

The residuals show how far away the actual data points are from the predicted data points. For example, the first data point equals 7500 (Predicted quantity sold – its residual).

CONCLUSION

Armourguard security has effectively used strategic planning models to enhance its  security services business which is evident through the results from the surveys conducted. The company can expand its business by exploring its potential in the safety car parking services to increase its consumer base. This can be achieved by the company by focusing on its strengths and improving upon its weaknesses. The company needs to have the latest technological tools integrated in the system so that the security systems are improved and the customer satisfaction is raised through the improved services of the company.

Bibliography

  • Ahmed, J., Shah, M. H., & Soomro, S. J. (2016). Information security management needs more holistic approach: A literature review. . International Journal of Information Management , 36 (2), 215-225.
  • al, e., & Ayuso, S. (2011). Does stakeholder engagement promote sustainable innovation orientation? . Industrial Management & Data Systems .
  • Al-Jabi, Muhannad, & Diab, M. (2017). IoT-enabled citizen attractive waste management system. Applications of Information Technology in Developing Renewable Energy Processes & Systems (IT-DREPS), 2017 2nd International Conference on the. IEEE .
  • Brandon, C. E., Hoffman, L. E., Hunger, J. D., & Wheelen, T. L. (2017). Strategic management and business policy. Pearson .
  • Caetano, A. (2017). Representation and analysis of enterprise models with semantic techniques: an application to ArchiMate, e3value and business model canvas. Knowledge and Information Systems , 20 (1), 315-346.
  • Gillespie, A. (2007). PESTEL analysis of the macro-environment. Foundations of Economics, Oxford University Press, USA .
  • Harrison, J. (2015). Strategic Planning and SWOT Analysis. . Essentials of Strategic Planning , 91-97.
  • Mathekga, J. M. (2016). The analyses of non-standard employment and contemporary labour protest in South Africa. South African Journal of Labour Relations, 40(2) , 139-151.
  • Palmer, J. (2015). Equity and Trusts. NZL Rev., 141 .
  • Porter, M. E. (1985). Competitive Advantage: Creating and sustaining superior performance. NY: The Free Press .
  • Porter, M. E. (2008). On Competition. Boston: Harvard Business , 11.
  • Tanwar, R. (2013). Porter’s generic competitive strategies. Journal of Business and Management, 15(1) , 11-17.

Cite This Work

To export a reference to this article please select a referencing stye below:

Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.

Related Services

View all

DMCA / Removal Request

If you are the original writer of this essay and no longer wish to have the essay published on the UK Essays website then please: