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7009IBA Knowledge Management For Product Innovation

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7009IBA Knowledge Management For Product Innovation

0 Download10 Pages / 2,450 Words

Course Code: 7009IBA
University: Griffith University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Question:

The following instructions provide additional information about the requirements of this task:

A dedicated business report workshop will be held as part of the course. Attending this workshop (and/or listening to the recording) will provide the necessary information to complete this assessment item.
The expected word count is 2000 (+/- 10%). The word count excludes: Executive Summary, Table of Contents, Charts/Diagrams, Tables and References. Appendices are not required for this report, though you will not be penalised for their inclusion.

i. All references must be in English and accessible via the library database or internet. Sources can be either academic journal papers or industry publications with a majority from the last 6 years (i.e. the years 2010 to 2015). A minimum of 14/15 references is required.
ii.The report MUST be submitted via SafeAssign. Please ensure that you have completed the online assignment submission declaration quiz. Your report will not be marked if this form has not been completed.

You are also required to submit the report by 5pm on Saturday, August 22 (following the Week 4 class).

iii.The report should follow the format of the BRW tool as outlined on the course website. A clear structure will also be provided in the Business Report workshop.

Answer:

Introduction
Cement Australia Company works for construction material supply in the country. It has taken two strategies for operations which include business to business market and business to consumer market. It supplies cement products that are packaged. It is the largest company that operates in DIY retailers. Do it yourself strategy refers to the new strategy offered by the company for helping people. It also works in home construction, repair and maintenance and renovation projects. The company’s strategy is to use new ways to expand the business. It plans to use the strategy of just add water.
Background
Cement Australia is an Australian Company working on construction material. The company is working to achieve the objective of earning the profit and providing best of its facilities to customers. It is an old company having the business of cement and other construction products. The Company was providing average returns to its owners. After that, it takes a new strategy like Do It Yourself strategy into consideration. It helps it to provide better returns to owners of the company. The company managers are taking new innovations and improvements into account for further projections. As Cement Australia is working with Low’s Joint Venture, then it needs to report to managers for its achievements and problems.
Aim
In the establishment of any business, it needs to have a specific aim for which company is doing business. It must include the position where the company wants to stand and other factors like position and requirements. Cement Australian company aims to achieve the best market position in business to consumer market. It aims to have the best identification opportunities that may include packaging opportunities, marketing strategies, and renovation strategies. It aims to go through new strategies for expansion of the business. The company wants to achieve a great position through the new strategy of just add water. This strategy needed more identification opportunities to have growth (Diaz, 2013). For meeting aims of the company, it wants to go through new strategy and making these strategies as the way to achieve the aim of business.
Scope
Cement Australia company wish to have access to certain opportunities and identification of these opportunities. It needs to identify factors like marketing strategies and mapping techniques. The scope of the company includes achievement of aim or goals through new strategies and methods. The scope also includes Do It Yourself technology of the company. The scope relates to the achievement of just add water strategy. The Scope of the company includes marketing of production all over the country. It wants to be best in all over Business to business sale business unit and business to consumer market SBU. As the company has been going to expand business through shows of home renovation strategy, which is part of a company having a joint venture from Woolsworth Company. It needs to include the objectives of Holding company and its scope. It required considering all requirements of holding the company and achieve best related to holding company. The Scope also includes buying property and selling constructed houses rather than selling only construction material. It also has an opportunity of home improvement chain through the new project.  
Assumptions
Cement Australia needs to manage growth with new product innovation by adding values to existing products. New marketing strategies, packaging style, and mapping techniques can add value to existing products. The company requires considering features that may add value to current products. The DIY strategy of the company needs to analyze for expanding the business.
Cement Australia seems to have future growth in business to consumer sale business unit rather than a B 2 B business unit (Callaghan, 2016). Consumers are interested in Cement Australia due to a retail trend of Do It yourself technology. It helps in doing the business direct to the the consumer level. It facilitates to have access direct to company from the consumer. Consumers have a great relationship with the company due to its direct access. Cement Australia is trying to provide the best services to its customers with help of DIY strategy.
As the company is going to facilitate a new category product to its customers calling Just add water. This product relates to DIY strategy because it attracts directly customers toward sale(McIntyre M, 2013). The new product is customer beneficiary having a mixture of many products into one and providing help in production (Mukerji, 2012).
Cement Australia is taking a project of house renovation. The project is undergone by Lowe’s Company. This renovation project includes the supply of everything which includes the use of timber or plumbing services. In this project, the company will himself build the house or the building. They use their own material and build or construct the building.  They provide these services at less cost as compared to different costs to be handled by customers. This is the main reason which shows that the company may have grown in Business to consumer sale during last year.(Berkes, 2016)This project can help the company to achieve the required profits in short time. In this new project, the company needs to analyze the current position of the person for which they are building or constructing. It may be an individual or a company (Wood, 2012). The construction must be done according to the choice of that person. It results in positive feedback from the customer.
Industry Overview
Australian Cement industry includes many companies operates in a similar business. Cement Australia is part of this industry. The industry has more emerging trends towards industry growth. It is trying to make the strategy that will increase the level of sale of cement and other construction products. They have tried to make a new product including all these factors into the single one. The industry of Australia is termed as an advanced economy (Chitkara, 2014). The industry growth is total 0.5 % in the year 2009. The company accept new strategies and results in total 2.25% profit in the year 2010. Home renovation project of the industry seems to have a great impact on the economy. The new market strategies and packaging style helps the industry to increase profits due to low loss.(Kosmatka, Kerkhoff, & Panerese, 2011)
Marketing Strategy
Cement Australia requires adopting a new marketing strategy for achieving the best position in the market. It needs to consider factors of strategy to be adopted for gaining success. The new identification opportunity for the marketing strategy of cement products includes strategies of DIY and just add water strategy. (Kerzner, 2017) It must analyze factors of Do it Yourself factor and attract market towards its products. The new product of Cement Australian needs for expansion of the business. Just add water can be expansion or growth factor for the company. It must inform customers regarding this new strategy. It will help customers to have access to the best products for the construction of their houses. (Hunt, 2015)
Mapping Techniques
The techniques are required for growth in business. Mapping techniques help to understand requirements of industry and techniques. Cement Australia needs to analyze the trends of industry and society (McArthur & Spalding, 2010). Mapping techniques of the industry make it easy to have profit in business. Society needs something which will help them to make construction easy and buying easy products. The new category of company having process of Just Add water is according to requirements of customers. The company needs to analyze and take feedback for improving mapping techniques of cement and construction requirements.
Packaging Style
The packaging of the construction material is a great responsibility of packaging departments. In construction of a house or building, many products are required. It may include concrete, rapid set variant, cement, sand and other requirements (Schneider, Kluge, Weiß, & Rohm, 2015). Packaging department needs to package this in different packaging’s in a way so that it can’t open in the way. Packaging all materials differently take time and employment cost. Cement Australia can take benefit of just add water in packaging concept as well. The product contains all the required products like mortar, cement, and concrete etc. It requires only single product packaging. It can help the company to save cost and time of product packaging.
Industry Analysis
Emerging Trends in Australian Renovation Market
Australian renovation sector has slowly resurrected from the year 2016. There have been great innovation trends occurred in the same year. There are specific reasons behind these trends which can relate to Cement Australia’s new product Just add water (Edwards, 2016). These trends increase the economy of every company and make the great expansion. If we give on a look on an index of the same year, w can see that there is more confidence among people having relation to renovation.
Following are the reasons behind the project:
Low-Interest rates: Renovation trend may occur due to the low-interest rate of loans. It is a great market opportunity for growth for Cement Australia Company. The company required to provide more facilities for people wishing for construction. The trend of renovation may relate to just add water category with low- interest rates. If people may access finance at low-level rates, it can attract them to have such loans and make the renovation.(Hargreaves, 2013) Just add water category products inspire such persons. It attracts them to buy these products and make an easy renovation.
Positive Economic Factors: This is another factor that may lead to a trend renovation process. The economic factors can attract them to have the achievement of products at low cost. Just add water product is a mixture of many products. It helps people to take all products in a single one. (Mahasenan, Smith, Humphreys, & Kaya, 2015). Emerging trends of Do It Yourself/ renovation market considers just add water category into the look.
Rivalry among Existing Competitors
Competition is a general term in every business. Cement Australia Company must have to face the situation of competition. There are many competitors in this business. All of them are taking new strategies in their business for growth. The company required to have different strategies in business for taking an effective position. As we know, the company is going to start new category products of just to add water. Other competitors may also start the same strategies. It becomes important for the company to launch this new product before another firm or businesses. It will have a great effect on the market position of the company. For facing these existing competitors, Cement Australia requires taking new opportunities for marketing or mapping into consideration.
Barriers to industry
Cement Australia is facing problem in launching their new product just to add water. There are some barriers to the entry of this product into the market. Competitors with this product have a great position in the market. The company must start this project at the place where there are not too many competitors in similar business. It can help Cement Australia to have a great achievement in this level. Position and reputation of new entrepreneurs will also affect the business of Central Australia. It must analyze factors of future trends and their consequences for business.(B, 2015) The company is required to give an approach to new industry trends and Do It Yourself facility must be analyzed for achieving required growth in current business (Princeton University Press, 2015). These barriers can be ignored by using the best quality products and the best strategies for companies. Cement Australia uses the product of quality nature which reflects that it may have limited impact of barriers.
Conclusion
Cement Australia is trying to achieve the highest position in the industry. From an analysis of the company’s current position, we find that it has great customer relations which may result in achievement of the company’s objectives easily and within a short period. The Just Add Water category product seems like a highest profit making factor. It results in that  just add water project needs proper attention while production. It concludes that current products can also provide great profit by implementing some strategies into products. New marketing strategies and packing style imply product value improvement in the company.
Recommendation
As considered in the project, a DIY project is helpful for achieving a required market position in the company. The company needs to analyze factors of future implications of current products. It needs to analyze regarding the strategies of the company. It must give proper attention to new category product of Just Add water. It is recommended for the company to continue in this category project because this project is providing great results for the company. It must take care of its strategic business unit of business to consumer. This unit is providing great returns to the company. It is also a great factor that the company is going through project oh Lowe’s. It must take these type of projects because it results in profit for the company.
References
B, K. (2015). Fast-track construction becomes the norm. Architectural Record. , 10-11.
Berkes, H. (2016). EPA Regulations Give Kilns Permission To Pollute : NPR. NPR.org , 20-26.
Callaghan, G. (2016). New wood: how it will change our skyline. The Sydney Morning Herald , 23-28.
Chitkara, K. K. (2014). Construction Project Management. Delhi: Tata McGraw Hill Education.
Diaz, J. (2013). This Is What the First Lunar Base Could Really Look Like. Gizmodo , 25-26.
Edwards, P. (2016). Global Cement Directory 2010. Epsom, UK: PRo Publications.
Hargreaves, D. (2013). The Global Cement Report 10th Edition. International Cement Review , 8-15.
Hunt, D. S. (2015). The Normative Imperatives of Business and Marketing Strategy: Grounding Strategy in Resource-Advantage View. Journal of Business and Industrial Marketing , 23-24.
Kerzner, H. (2017). Strategic Planning for Project Management Using a Project Management Using a Project Management Maturity Model. London: Wiley & Sons.
Kosmatka, S., Kerkhoff, B., & Panerese, W. (2011). Design and Control of Concrete Mixtures. Illinoi: Portland Cement Associations.
Mahasenan, N., Smith, S., Humphreys, K., & Kaya, Y. (2015). The Cement Industry and Global Climate Change: Current and Potential Future Cement Industry CO2 Emissions. Greenhouse Gas Control Technologies – 6th International Conference , 48-56.
McArthur, H., & Spalding, D. (2010). Engineering Materials Science: Properties, Uses, Degradation, Remediation. Elsevie: McGraw hills.
McIntyre M, S. D. (2013). Surety Bonding in Today’s Construction Market: Changing Times for Contractors, Bankers, and Sureties. The RMA Journal , 14-17.
Mukerji, C. (2012). Impossible engineering: technology and territoriality on the Canal. Australia: Princeton University Press.
Princeton University Press. (2015). The Cement Industry. London: David & Charles.
Schneider, Y., Kluge, C., Weiß, U., & Rohm, H. (2015). Packaging Materials and Equipment. Wiley-Blackwell: Technology of Cheesemaking.
Wood, H. (2012). UK Construction Careers, Certifications/Degrees and occupations. TH Services , 31-34.

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