Free «Strategic Management» Essay Paper

I work in a food processing industry where the company I work with is one of the world’s largest food service retailing company. The company is well known for its excellent products in over 120 countries. In order to maximize its opportunities, the company must develop sound strategies from which the company can attack each opportunity with appropriate action and resolution. One of the top two opportunities the company has over the next five years is; growth of franchise-operated restaurants and new restaurants opening. Many people are interested in the food processing industry, and they are approaching the company so that they can use its brand name. The company has a great opportunity in this because it will earn commissions from the interested parties. The company has another fantastic opportunity to opening new restaurants in other continents like Africa and Asia since it mainly operates in America and Europe.

The two major threats facing the company for the next five years include; competition from upcoming food processing industries and consumer spending is highly determined by the global financial crisis. In Europe alone, there are six companies trying to compete with this company and the principle they are using is to come up with unique products so that they can surpass this company in the market. This is a great threat and the company needs to come up with new strategies to outdo their competitors. The global financial crisis is affecting the company negatively. Most consumers have cut down their spending due to the economic crisis in the entire world. The company has to reduce the production of some products since the consumers have reduced the rate at which they were buying them. If the global financial crisis continues like this for the next five years, the company might not provide some products any more.