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Free Business Case and Innovation Essay Sample
The main reason as to why investors spend millions of dollars to set up business is not only to satisfy the client's needs but also enjoy the returns on investments. This however is a tall order since there are numerous challenges that the companies must over come in order to enjoy this benefits. Based on the first part of my assignment, it is evident that the company of my choice is a well established company in the grain handling business. The purpose of this assignment is to identify a KM problem the company is facing (either through research or by imagining one that makes sense given the company context) and then develop an appropriate policy. The assessment will address the region, person or group assessed, the type of assessment used, and the problem identified. The policy will include a key principle, as well as a discussion of responsibility, implementation, and review.
Problem Assessment
Grain handling business is a very risk business and this because of the nature of goods being handled. The goods (grains) must be preserved at a certain temperature and exposing them to unfavorable climatically conditions will definitely spoil the produce. From the previous assignment it was indicated that the company handles grains for local market, that is Canada as well as international markets. Some areas in which the company has interests in is in Africa and this is where the problem lies. This region is still developing and hence it lacks of the latest preservation equipments as well as marketing policies and strategies for the business. On a positive note though most of the countries in this continent are faced with hunger and starvation and therefore if the company established itself then it will not only maximize the return on investments but also save the lives of millions of those faced with starvation.
It is however important to note that not all parts of the continent are arid and semi arid, a bigger percentage of the continent is very fertile and most farmers are minting millions of dollars from farming. In order for the company to make an impact in this region it must address the issues of grain preservation and also marketing. There are several policies is adapted by the company then it will be in a better position to penetrate the region.
The Policy
According to Proctor, proper grain storage a pivotal role in the determining the economic growth of a nation. He has argued that most grains are produced in surplus at the same period of the year, during this time the supply is high but the prices are pathetic; therefore if the company invest is state of the art equipments, it can purchase the produce from the local farmers, preserve them and release them to the market at a later date. The advantage with this is that the company will cut down on the cost of transporting of grains from Europe to Africa since the same grains that are planted in Europe are the same found in Africa.
In addition to the above, Proctor has given the various drying and preservation methods that the company can use in order to keep the grains in good condition for long. When it comes to marketing of the produce, the company has to be aggressive; this is because of the stiff completion it will encounter from other players in the industry. According to Leduc, there are five main marketing approaches that can be used by the company and this are, keep adding something new, become a valuable resource, separate the business from your competition, promote the end result and lastly expect change. One advantage that the company has is that it is an international brand and therefore it stands higher chances of winning government as well as private tender as compared to other local companies.
