Assignment Part 1: Case Study (15 Marks for Case Study Analysis – Words count 1000 words 500 words per question).
Al Ufuq International is an electronic factory that was established recently by three young entrepreneurs: Omar, Nasser, and Shireen. They graduated with a business and management major from CBFS five years ago and were very passionate and enthusiastic about starting their own business. They managed to fund their business with the help of one passionate investor who believed in their vision. Initially, they started manufacturing small electric instruments such as TVs, smartphones, and tablets. Over time, they successfully established themselves in the Omani market and now have eight showrooms scattered across the country.
Al Ufuq International was able to return the initial investment in just three years, and the investor is now a strategic partner and shareholder in the company. Shireen’s SWOT analysis process led to the idea of manufacturing energy-efficient solar air conditioning units. The idea emerged when the partial lifting of electricity subsidies caused electricity bills to rise and become a significant issue for Omani families. Expanding the business to include green power was a significant opportunity and challenge for the company.
During a board meeting, the proposal was presented, and a market needs analysis showed that the project had great potential. However, it was a high-stakes and high-risk venture for Al Ufuq International. To mitigate the risks, a committee of well-selected personnel was formed from different departments to create a comprehensive business plan. The plan included a feasibility study, market needs analysis, and the scope of the company’s new expansion. The strategic plan was also modified to include a new direction.
The operational plan for the new expansion included a monitoring and evaluation system to track progress, measure success, and address any deviations from the plan promptly. This system enabled regular assessments of key performance indicators (KPIs) and provided management with the flexibility to adapt to changes in the market. After an extensive planning process, Al Ufuq International began its new expansion and doubled its profits from the previous years.
In conclusion, Al Ufuq International is a successful electronic factory that started with a passionate vision of three young entrepreneurs. Their commitment to quality and innovation has enabled them to establish themselves as a trusted brand within the Omani market. By expanding into green power, they have demonstrated their commitment to sustainability and the environment. With their comprehensive business plan and evaluation system, Al Ufuq International is well-positioned to continue growing and adapting to the ever-changing market.
Discussion Questions:
1. Evaluate and discuss the Al Ufuq Int secret-of success.
2. In the context of expanding Al Ufuq Int.’s expansion, discuss the role of control and evaluation in the planning process. How can an effective control and evaluation system help Al Ufuq Int adapt to changing market conditions and improve decision-making?
please mention the four functions of management (planning, organizing, leading, and controlling) when writing the answer
use the harvard referencing system.
