Veranda Brands: Developing and Coaching Talent Workshop Harvard Case Solution & Analysis

Veranda Brands: Developing and Coaching Talent Workshop Case Study Solution

Rare:

The valuable resources utilized are not even rare or expensive. These resources are commonly found, so it would be easier for the rivals and the new competitors in the industry to effortlessly move into the competition and make their presence felt in the industry with a little bit of experiment or innovation in their products by using the same resources.

Imitation:

The imitation process is not costly for the rivals of the company. However, it can be done only in two different techniques i.e. product duplication and launching of the product’s substitute with switching cost. This increases the threat of disruption to the recent structure of the industry.

Organization:

This component of VRIO analysis deals with the compatibility of the company to sustain its position in the market, by making productive use of its valuable resources, which are not difficult to imitate. Frequently, the development of the management is totally dependent on the firm’s execution strategy and team. Thus, this is needed to polish the skills of the firm  based on the decisions made by firm for the progression of its strategic capitals, to protect the organization from suffering any loss, before it’s too late.

Alternatives:

Cross-training Programs

An arrangement of training programs to develop and enhance the skills of the employees for an effective performance.

Pros:

  • The training of the employees will assist them to enhance their skills and interest for performing the tasks in an effective manner.
  • Effective performance of the employees improves the efficiency of product development outcomes.
  • It will allow different employees to work on different tasks in the absence of the other employees who were assigned the work, which will significantly reduce the delay in the project completion.

Cons:

  • Cross-training of employees will make employees diversified in their own professional area.
  • Non-effective performance of each employee in different areas with an increased chance of errors.

Team management

Management of team through effective leadership.

Pros:

  • Effective leadership is a substantial key, which promotes the growth of any organization.
  • It reduces the communication gap between the employees and management, allowing them to discuss their issues or resolve their conflicts if they have any.
  • It reduces the cultural barrier, which is the main hindrance in the economic growth of any organization.
  • Better management and up-to date profiling on the completion rates of the projects in order to complete them on time.

Cons:

  • Eliminates the prominent role of supervisors, as the employees are in the direct contact with the management.
  • It is only effective in case of educated workforce as it may result in slow decision making.

Policy introduction

Making of the policies in order to establish the best practices, guidelines and boundaries for acceptable behavior of the employees at work:

Pros:

  • It assists the employees in acknow ledging that what the organization expects from them regarding their behavior and performance.
  • This creates a sense of equality in the minds of the employees that they will be treated equally and fairly.
  • It provides a mean of communication between the employees and the management.

Cons:

  • It restricts the organization from making any rapid decisions.
  • The policy making itself requires much time its implementation.

Recommendation:

All the three alternative strategies are suggested considering the issues and problems of the organization,as the key problem of the organization is the behavior, attitude and disinterest of the employees in performing their services efficiently. Hence, these three strategies – cross-training programs, team management and introduction of policies would work fine in the combination,but the best suited and appropriate strategy is the team management through the adaptation of an effective leadership style. As the leadership style in any organization influences the entire structure of the organization, such as the performance of the employees, completion rates of projects, and effective productivity outcomes.

Conclusion:

Veranda is a brand of furnishing products such as pillows and cushion cases, slip covers and bedding etc. The founder and CEO of Veranda - Vickers is well aware of the customers’ demands, retailers, and the ongoing competition in the market. Irrelevant behavior, attitude and interest is not considered beneficial in the economic growth of the organization. Hence, the organization is suggested with alternative strategies i.e. cross-training programs, team management and introduction of policies among which, team management through an effective leadership style is best suited strategy, which has the potential of providing significant outcomes.

 

Exhibits:

Exhibit – SWOT Analysis

Strength Weakness
·         Strong reputation in the United States and Turkey.

·         Limited range of units

·         Efficient use of resources

·         Steady growth

·         Poor management of workload

·         Need of a larger space

·         Attitudes, interest and behavior of employees

Opportunities Threats
·         Business expansion in international market

·         Increased number of contracts and sales.

·         Efficient management of services

·         Loss of potential contractors

·         Financial Instability

·         Decline in sale.

Exhibit – Porter’s Five Forces Model

Exhibit – VRIO Analysis

ResourcesValuableRareImitateOrganizationCompetitive Advantage
Network Flexibility of Supply chain YesYesClose – sharing some same suppliers chainCompletely consumed.Unused competitive Advantage
Market position YesYesYesYesSustainable Competitive Advantage
Leadership teamYesYesNoYesStrong competitive Advantage
Awareness of Brand YesNoYesYesSustainable Competitive Advantage
Financial Resources YesNoNoFinancial status is sustainableTemporary Competitive Advantage

 

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