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Strategic Factor Analysis Summary

LOCKHEED MARTIN

TOWS Analysis

Recommended Strategy.

When you examine Lockheed Martin's TOWS projects thoroughly, you can see that the corporation has done well in recent years by expanding into new countries and selling its goods in those regions. Healthcare, sustainable energy, intelligent energy distribution, and compact nuclear fusion have been the company's primary interests in the past (Censer, 2020). Therefore, I believe that the corporation should pursue a strategy of diversification. Diversification is a business strategy used to expand into new markets by producing and selling new products and services. It is one of the four growth strategies shown by the Ansoff Matrix. Diversification tactics may be divided into subgroups that are either linked or unrelated to one another. As part of its diversification strategy, the company will develop new products and services in unrelated industries.

This course of action is dangerous since the firm lacks the required capabilities. When a firm adds new items, it does so by using its existing resources, expertise, and infrastructure. Lockheed Martin is a strong match for this approach since they have the necessary personnel and resources to execute it. After doing extensive research on market demands and consumer preferences, Lockheed Martin should implement the relevant diversification plan by acquiring successful firms or developing new products in non-core sectors. Utilizing its strong brand recognition and financial stability, the company has been expanding into new areas by purchasing existing enterprises in those regions. In 2011, they acquired QTC, an outsourced medical assessment firm, for $649 million (Clabaugh, 2011). They are also exploring new categories within the beverage industry. The company is now working on a technology to filter seawater for human consumption. Even if the market is extremely volatile, the company will be able to survive if the associated diversification growth strategy is implemented.

References.

Atherton, K. (2013, March 18). Using Graphene, Lockheed Martin Wants To Turn Salt Water into Drinking Water. Popular Science

Censer, M. (2020). Lockheed Martin Ventures Made Nine New investments in 2019. Inside the Pentagon, 36(6)

Clabaugh, J. (2011, August 22). Lockheed Martin to acquire QTC Holdings. Biz Journals.

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Running head: Strategic audit report 1

Strategic audit report 4

Strategic audit report

Institution:

Student’s name:

Date:

Part 1

FedEx implements a continuous strategic audit in monitoring small progresses or variation from expected performance on a short-term basis. This is attained through information systems at FedEx which is equipped to give useful insights into the progress and outcomes of implementation initiatives. FedEx agents have access to real-time client data for any number of customers. Managers and other essential individuals can also view this data. Having this kind of real-time data access is crucial for FedEx's performance monitoring and forecasts, as it allows them to see what their customers are ordering and from which divisions, if any. FedEx is able to detect issues, isolate causes, and develop workable remedies thanks to its extensive network of computerized systems (Yun et al, 2021).

FedEx has the capability to perform both functional and consolidated financial analysis and evaluation. FedEx, the parent business, receives financial data from each of its operating divisions and compiles it into a unified report. Each business unit within the company can have its own financial data reported and analyzed in addition to the overall company's data. FedEx needs to look at things from both the operating company level and the corporate level in order to have a full picture of the company's financial health.

FedEx relies on benchmarking to examine its operations and results against those of its competitors. The organization must assess its performance and quality of service in order to identify and address gaps, improve processes, and expand offerings. In order to maintain their high level of service and cater to their customers' individual preferences, FedEx relies heavily on benchmarking data. As described in the company's values, FedEx's corporate culture includes a robust performance-tracking technology system, quantifiable sustainability goals, and a rewards program for top performers. Awards for exceptional achievement reinforce FedEx's high-performance culture and encourage employees to go above and beyond in their pursuit of customer satisfaction (Tanriverdi, & Du, 2020).

The current strategic audit tools and processes used are effective. This is because they have so far enabled the company to operate among the best performing businesses in the global market.

Recommendation

FedEx can gain more from evaluating its performance in relation to the prevailing market trends. This can be attained through implementing Core Competence Analysis. This type of strategic audit is vital for a business as it establishes the fundamental strengths of the business and areas that needs more effort in maximizing the differentiating advantage of the business (Alvarenga et al, 2019). This would improve the overall value of FedEx Company.

Part 2

Types of output

There are three main types of output in which FedEx use in determining the performance of the company in a given period. The first type of output is SWOT analysis output where the management focuses at evaluating the internal and external business environment and determining the most appropriate strategy to apply in operating optimally. The second type of output used by FedEx is performance analysis. This focuses at determining the prevailing performance of the company based on established information that is obtained in earlier periods. FedEx use this output in determining the performance trend of the company over time. The third type of output used in the company is value chain analysis where the systems within the organization are assessed based on their performance (Huong et al, 2022).

Behavior controls

The company has set rules and regulations that dictate the expected mode of conduct among the members of the organization. The regulations are documented as Code of Conduct and is made available to every member of the organization upon joining FedEx. This makes it easier for the management to evaluate performance of the members of the organization based on their compliance to the expected code of conduct or behavior in the organization (Huong et al, 2022).

Input controls

FedEx has established an effective input control strategy that eliminates possible loops in the performance of the company as a result of faulty inputs or unqualified members of staff or employees. This is attained through the use of hiring criteria selection, appraisal requirements and promotion. With these processes, there are lower chances of the company experiencing unqualified people occupying positions of leadership within the organizational structure. Also, the company has an effective procurement system to ensure resources acquired by the company meets quality standards based on the predestined purpose within the organization (Kumar, 2020).

Reference

Alvarenga, J. C., Branco, R. R., Guedes, A. L. A., Soares, C. A. P., & e Silva, W. D. S. (2019). The project manager core competencies to project success. International Journal of Managing Projects in Business.

Huong, T. T., Bac, T. P., Ha, K. N., Hoang, N. V., Hoang, N. X., Hung, N. T., & Tran, K. P. (2022). Federated Learning-Based Explainable Anomaly Detection for Industrial Control Systems. IEEE Access, 10, 53854-53872.

Kumar, A. (2020). A STUDY ON SUPPLY CHAIN MANAGEMENT OF FEDEX EXPRESS TRANSPORTATION (Doctoral dissertation).

Tanriverdi, H., & Du, K. (2020). Corporate Strategy Changes and Information Technology Control Effectiveness in Multibusiness Firms. MIS Quarterly, 44(4).

Yun, M., Xiong, J., & Wong, K. (2021). Is FedEx a Good Investment Choice?. Frontiers in Economics and Management, 2(2), 171-175.

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College of Business | worldwide.erau.edu

All rights are reserved. The material contained herein is the copyright property of Embry-Riddle Aeronautical University, Daytona Beach, Florida, 32114. No part of this material may be reproduced, stored in a retrieval system or transmitted in any form, electronic, mechanical, photocopying, recording or otherwise without the prior written consent of the University .

External Factor Analysis Summary Worksheet

	FACTORS	WEIGHT	RATING	WGTD SCORE	COMMENTS
	OPPORTUNITIES
O1	Expanding in emerging markets	0.14	2	0.28	FedEx has the opportunities of expanding in emerging markets in Asia and Latin America to increase sales
O2	Focusing on retail e-commerce	0.20	1	0.20	FedEx has the opportunity of leveraging on the growing demand for delivery in e-commerce (Degirmenci, 2022).
O3	Innovation	0.13	3	0.39	The company has the opportunity of expanding its innovation to tap into technologies such as Blockchain (Natarajan & Katina, 2021).
O4	Portfolio diversification	0.10	5	0.50	With the growth in online retailing FedEx can capital ion this to expand its portfolio
O5	Expansion through merger and acquisition	0.05	9	0.45	This strategy is good for FedEx to penetrate into new markets.
	THREATS
T1	Unstable fuel prices	0.09	6	0.54	The volatility in the global fuel prices leads to increase in the operational costs and reduces the profitability
T2	High competition from online giants such as Amazon	0.11	4	0.44	FedEx is facing high competition especially from online retail giants such as Amazon. This competition is likely to affect the market share of the company and reduce profitability
T3	Trade tensions between the US and China	0.06	8	0.48	The trade war between the US and China has imposed great threat to FedEx as China is a big market for the company’s services
T4	The looming global recession and high inflation	0.08	7	0.56	The looming economic meltdown and high inflation is of great concern to FedEx since it will affect demand of products and services of the company
T5	Strong labor laws	0.04	10	0.4	Most governments in which FedEx operates have focused on protecting the employees’ rights. There with huge operations and many employees FedEx may incur h Collepals.com Plagiarism Free Papers Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers. Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS Why Hire Collepals.com writers to do your paper? Quality- We are experienced and have access to ample research materials. We write plagiarism Free Content Confidential- We never share or sell your personal information to third parties. Support-Chat with us today! We are always waiting to answer all your questions. Imagine you are a business analytics employee at BAT Car Company The president and CEO of BAT have tasked you with providing them with a data plan addressing expansion of BATs production busi Please discuss how supply and demand drive the transportation industry? In your opinion, how does the transportation industry affect the environment? Related Posts Uncategorized Unit 2: Common Assessment/Project Part A Start Assignment Uncategorized Person-Centered and Experiential Therapy Uncategorized Read the Instructions for the Population Health Assessment & Prevention ?Download Instructions for the Population Health Assessment & Prevention All Rights Reserved Terms and Conditions College pals.com Privacy Policy 2010-2018