Kantanka Motors
Kantanka Motors being a Small to Medium Enterprise, faces unique challenges in its immediate business environment. The company will necessarily have to deal with the prevalent forces to drive change if it is to survive, grow and meet the expectations to create investment and employment opportunities. Within this environment are important business success indicators which the business will have to adapt to chiefly, successfully adapting to the change from technological advances, customer expectations, supplier requirements, regulatory regime, increasing competition from domestic and foreign markets, and internal organisation change strategies. The focus of this paper is to outline and analyse the main challenges in the company’s …show more content…
As a strong determinant of the lifestyles and values that characterise a society, moreso the selected target market for automobiles for Kantanka Motors, the sociocultural factors influence the ability of the firm to procure resources, markets its goods (Kantanka range of vehicles), and function properly within the society. The business isn’t an isolated island. This will help the company better understand its customers, and various stakeholders. Factors such as the social satisfaction customers, literacy levels, level of social and cultural cohesiveness and conflicts, ethical beliefs, extent of social satisfaction. Specifically, the company could benefit from the gradual growth in income of consumers, possible shifts in consumer preferences for high end cars, the need to feel patriotic in procuring made in Ghana vehicles, among others, even as it positions itself to satisfy consumers on the lower income strata by producing salon vehicles. A rapid shift in these social factors could negatively impact the company’s strategy and business, if the speed of adjustment of business strategy isn’t as …show more content…
For instance, the firm can focus on product development to exploit opportunities in the market. Kantanta can also improve business operations and market presence to exploit opportunities based on economic external factors. However, Kantanka must address threats based on the external factors of the income strata, macroeconomic volatilities, political contexts, keeping up to pace with innovative technology, and utilize emerging social marketing tools and strategies to engage potential consumers. Technological measures and product innovation could prove beneficial in this endeavor. Thus, this analysis shows that Kantanka Motors has significant opportunities for growth and
Kantanka Motors being a Small to Medium Enterprise, faces unique challenges in its immediate business environment. The company will necessarily have to deal with the prevalent forces to drive change if it is to survive, grow and meet the expectations to create investment and employment opportunities. Within this environment are important business success indicators which the business will have to adapt to chiefly, successfully adapting to the change from technological advances, customer expectations, supplier requirements, regulatory regime, increasing competition from domestic and foreign markets, and internal organisation change strategies. The focus of this paper is to outline and analyse the main challenges in the company’s …show more content…
As a strong determinant of the lifestyles and values that characterise a society, moreso the selected target market for automobiles for Kantanka Motors, the sociocultural factors influence the ability of the firm to procure resources, markets its goods (Kantanka range of vehicles), and function properly within the society. The business isn’t an isolated island. This will help the company better understand its customers, and various stakeholders. Factors such as the social satisfaction customers, literacy levels, level of social and cultural cohesiveness and conflicts, ethical beliefs, extent of social satisfaction. Specifically, the company could benefit from the gradual growth in income of consumers, possible shifts in consumer preferences for high end cars, the need to feel patriotic in procuring made in Ghana vehicles, among others, even as it positions itself to satisfy consumers on the lower income strata by producing salon vehicles. A rapid shift in these social factors could negatively impact the company’s strategy and business, if the speed of adjustment of business strategy isn’t as …show more content…
For instance, the firm can focus on product development to exploit opportunities in the market. Kantanta can also improve business operations and market presence to exploit opportunities based on economic external factors. However, Kantanka must address threats based on the external factors of the income strata, macroeconomic volatilities, political contexts, keeping up to pace with innovative technology, and utilize emerging social marketing tools and strategies to engage potential consumers. Technological measures and product innovation could prove beneficial in this endeavor. Thus, this analysis shows that Kantanka Motors has significant opportunities for growth and