Foleo Fones Case Study

As Foleo Fones Limited is changing and expanding through innovation and technological advancements, the effects on the stakeholders is evident.

Customers are notable stakeholders as by Foleo Fones Limited, pursuing the proposed initiative of related diversification, its impact on customers is substantial. Essentially it allows for a broader target market and market share to be reached as well as the inclusion of new product’s with new pricing strategies. In turn, this will positively impact the levels of supply and demand of each product and ensures only effective and efficient products are produced, thus results in improved sales and profitability. Customers are only interested in reasonably priced products along with high quality customer …show more content…
Essentially Foleo Fones Limited should view all their competition as not as an obstacle but instead as an opportunity as having healthy competition fosters innovative thinking which is crucial for growth. In turn this will also decrease complacency as the company will want to stand out from competitors and therefore be highly motivated and more focused in finding better ways to satisfy the customers hence increasing levels of productivity. Having competitors is inevitably in any industry but is beneficial in the way that it educates the company on the state of the market and helps to show what will and won’t work, which will be extremely beneficial for Foleo Fones Limited when producing their new products. By clearly understanding how competitors will react to the company’s increased product line will in turn help to achieve sales and market share and allows for Foleo Fones Limited to better dictate their …show more content…
Consequently, the need for more employees is heighten due to the extended product range as will need more employees to work and manufacture the product. In addition, existing employees may find themselves with additional responsibilities and their role expanding within company which in turn increases job security as more jobs will be available and needed to be filled and is brought about because of the greater stability that the company will experience. Employees are vital assets to any company and help to directly determine human resource capabilities to innovation and develop profitable products. Foleo Fones should also ensure there are correct compensation and employees practices to protect employees rights and satisfy their interests thus ensuring the goal of providing a working environment that encourages and facilities a happy and motivated team is