Swot Analysis Of Hayleys Company Ltd Information Technology Essay
Hayleys Company has developed of there own strategic planning process which involves Customer Relationship Management Systems, Executive Information System , Evaluation Systems (ES) and other net based technologies. The data information gathered from these sources will be used to take strategic decisions ensuring their company’s future development existence. This document further provides analytical description under this report title “Ensuring Organizational Existence with ICT and its involvement for strategic development – Hayleys Company”.
Hayleys is one of the leading multinational companies established (1878) in Srilanka with a team of 35,416 persons providing a variety of services covering a large business sector such as Fiber, Hand Protection, Purification, Transportation, Agri products, Plantations, Knitted Fabrics, Agri Inputs, Consumer Products, Industry Inputs, Power and Energy, Investments and Services, Resorts, Aviation and Destination Management Services both in local and international markets involving with a 2.6 percent of export income for Srilanka.
1. SWOT Analysis of Hayleys Company Ltd.
SWOT Analysis is a tool that provides valuable information to correspond resources and possibility to the environments of competitiveness that the organization operates. This Analysis model can also be used as an effective tool that can be adapted for strategy selection and decision making situations for the organization. As the first stage of performing the SWOT analysis it is necessary to identify the organization’s Strengths, Weaknesses, Opportunities and Threats where the Strengths and Weaknesses are factors that are important for analyzing the internal factors, the Opportunities and Threats to analyze the external factors. Furthermore, the internal factors are identified as the talent and the asset, which increases the values of the company, and the external factors which aren’t created because of the company, but affects the company due to the activities performed by the external forces. This mainly involves with the competitors.
1.1 The Effectiveness of SWOT in decision making for the management of Hayleys Company Ltd…
Strength mainly concentrates on the factors that the organizational management could take as decisions to improve the resources that is being utilized to improve the competitive advantage or how it could be used as a strength as an opportunity in the future.
The Factors involves strength, could be:
a novel product or a service
the expertise market enterprise
the location of the establishment
the quality of the procedures and the processes that are performed
Weaknesses are the factors that could be affect the company’s existence. Management should identify these weaknesses and must take necessary action to overcome. There could be a number of common weaknesses that could effect an organizations such as:
Less experience of marketing
Difficulties of constituting difference between products or services
(which is related to the competitors of the organization)
The Location of the establishment
Damage of the company reputation.
Opportunities involves with the new areas that the company could grow into. By adopting various opportunities the company management could easily decide how the technological development or demographical change could be involved to move in to various directions. The common opportunities for an organization could be listed as the following:
A new development of a new market such as the Internet
Improving profit by moving into lately developed market segments
Combine with strategic alliances.
Modern International Markets
Markets which are vacated by competitors who are ineffective.
Threats could be sources of danger for a company, but this could be an opportunity for another company’s existence in the commercial environment. By identifying and by making the proper decisions the management of the organization could overcome from such situations. A threat could be:
A fresh competitor in the home market
The price wars with the rivals
A rival has a distinct service or product
The superior access to the distribution channels, by their rivals.
The introduction of taxation to the products and services of the
How ever taking in to consideration about the above discussed information an analysis of SWOT representing Hayleys Company Ltd. is performed and the results are demonstrated bellow.
1.2 The categorical representation of SWOT for Hayleys Company Ltd.
1.2.1 Analysis of Company Strengths
Hayleys Company maintains a good picture with a globally recognized brand name over the past 132 years and this is one of the most diversified companies in Srilanka.
The company stands with an optimized business model.
Globally accepted financial position with higher profit rates.
Recorded 1.3Billion Post tax profits ever from 9 months.
Strong 3Q profit growth in Haycarb Posts.
50% of dipped products attributable profits at the end of the 3rd quarter.
2.6 percent export income for Srilanka is accounted annually.
Involvement of Information Communication Technology (ICT) in a vast area of business sectors for the day-to-day information and business transactions.
Online transactions with there international partners and customers (Business to Business, Business to Customer etc.)
Analytical tools are being implemented for the ease of taking analytical and strategic decisions along with progress and business critical activities.
Implementation of special units for coordination and monitoring of company based activities.
Hayleys has captured both local and International markets maintaining relationships with industrial giants.
Penetrating to the market covering almost all the business sectors in the industry providing variety of goods for their customers.
Diversified products are available to suite different markets
1.2.2 Analysis of Company Weaknesses
The existent on the market depends on the investments made by the international industrial giants.
The company mainly depends on the overseas market in some of the product areas.
The dissemination of the company sales agents are limited only to the countries main cities.
Looking in to products the product innovation time lags.
Products are limited for certain customer types and expectations.
The products introductory are less comparatively with the organizations. (Once a new technology or a product has being invented there is no introduction about it and the customers awareness is very less)
Local customers do not have direct contact while dealing with the company.
There are limitations for online transactions (this is not effected in internationally but locally) comparatively with the other competitors.
1.2.3 Analysis of Company Opportunities
Immerging markets are identified as in mainly in the European region as well as the Asian Region
Breaking old supplier chains to reduce the costs
Introduction of the technology to the local markets and convincing them the effectiveness of the product.
Relocating its manufacturing units to reduce cost
Diversifying the industrial involvement in untouched areas where less biography.
Sharing transferring technology within the industrial framework both internationally and locally.
Implementation of new more Technology based solutions for industrial analysis will increase opportunities for the industrial expansion.
Investors and share holders
Comparing with the past and the present short term and long term achievements Hayleys have made investors and shareholders confident about the company’s future and to invest more.
Involving in to new projects and by implementing current products enables new product introduction and new inventions.
1.2.4 Analysis of Company Threats
The Current Financial crisis
The downturn of the Interest rates
The less demand over the product which are produce.
Reduction of investments
The possibility of incurring bad debts and the prospects of protracted legal proceedings without assurance of satisfaction.
Market and the suppliers
Market Saturation could be one of the main threats for the company
Lack of supplies and suppliers could effect due the less of raw materials and less work force for the production of supplies.
Dependence on business partners
Loss of markets for the existing product range
Competition among the less complex, innovative, and price effective (Tax effective) products over the market with the involvement of Information Technology.
The group depends on accurate timely information from key computer systems to enable decision making.
Therefore, taking in to consideration about the above analysis the information will effectively offer the managers to choose between numerous strategic alternatives for the frequently resulting unnecessary industrial changes.
2. The Analysis of the competitiveness of Hayleys Company Ltd.
A model that perfectly analyzes the industries competition which involves true on the adjusted rates of risks could be continually forming a cross with industries and firms. However, various studies in the economy have state as fact that industries could obtain separate bases of profitability and variations of the industrial structure.
Therefore, to analyze these variations of the industrial structure an analytical model could be used to evaluate the strategic position in the market which is being affected by five forces.
Figure (a) – Porters Five Forces model of competitive analysis
2.1 Potential Suppliers
An industry which produces a service requires a certain level of raw materials such as: labour, supplies and other components. This form of requirement directs to relationship of buyer and supplier among the firm and the industry which accomplishes the necessary materials for the creation of the product. But if the suppliers are powerful, there is a high possibility to influence the production of raw materials which could affect the company’s profit.
Commonly considering the factors of Hayleys company’s supplies, it involves partially with international suppliers and local suppliers. About the local suppliers, it is considered that a 2/3 of goods for there business sectors such as Agri products, Fiber and knitting fabrics etc are being supplied by there own plantations and there own assisting branches. Furthermore, the establishment of long term business partnerships with the internationally reputed giants the risk and uncertainty with there suppliers are considerably in a low rate comparing with there competitors in the market.
The influence of the customers for an industry which makes productions is known as the buyer power. When the power of buyers are considerably strong the industry which involves with the production is termed as a monopsony by the economists which is consisting with a many to one (many suppliers and one buyer) market condition. In this case the prices are being set by the buyers. But in reality only a few of the monopsonies and an asymmetry do exist among the buyers and industry which makes productions.
However, Hayleys have accompanied there buyer power along with their trust worthy services and there long term reputation in the local and the international markets. Accolades and internationally reputed standards have increased the trust which have made more investors to invest in there organization and this has enabled them to supply satisfactory products among there buyers. Information Communication Technology (ICT) on the other hand, plays a leading role for the company by providing buyers to communicate and make necessary transactions under various buyer categories by maintaining the privacy and the affability and to make necessary strategic movements.
Looking in to the overall buyer process of the organization it could be demonstrated according to the following diagram.
Hayleys Company (Head Office)
Hayleys International Agencies
Locally Registered Agents – District/ Area vice
Local Distributor (Wholesale Dealer)
Figure (b) – The buyer process of the organization
2.3 Competitive Rivals
In industries competition among firms directs the cause of dropping profits according to the traditional economic model. But it isn’t confirmed that the company are not ingenuously submissive in taking prices. However companies struggle them selves to gain a competitive advantage among the rivals of their environment varying across the industries. Therefore, to proceed along with an advantage over the rivals of the company it is possible to make various competitive movements such as change of price, increasing the differentiation or the products by implementing new features and innovations, use of creatively launched channel distribution methods and building extreme relationships with the suppliers.
Looking back at the past 132 years of industrial experience and its diversed industrial areas both in internationally and locally, Hayleys could be introduced as a top rated multinational company, which, rivalry affects in a certain levels comparing with the industrial environment in Srilanka. For example, looking in to Srilanka’s agriculture sector the higher percentage of the counties income depends on the exports of the agricultural products and this is being supported by the private and governmental organizations. Under this process the main competitors are being identifies as the other private companies such as Chemical Industries Colombo (CIC), Morison, Opex. etc which they have begun to diversify with there products for competition by introducing internationally and locally recognized products.
Assuring the quality is one of the key features when competing with the industrial rivals. Looking in to Hayleys point of view the company has achieved various quality assurance certifications which has made more easier to compete with the rivals by giving the a good picture to the public and to analyses these rival movements Information Communication Technology combined with Information Systems have been effectively used by the Company.
2.4 Threats of Substitutes
Substitute products mainly refer to the alternate products in the industry. According to the economists point of view the threat of a substitute product comes in to existence when the demand is affected with the change of the price of the substitute product. The elasticity of the price of products has made the availability of more substitute products where customers have more alternative products.
Considering about the market and the competitors in the Srilankan industry, pointing out substitute products for each and every product that the company produce is very difficult as it has spread all over the market and because of the price fluctuation effected to the products according to the current economic environment. Therefore, to overcome and to analyze about the threats of substitutes, this will be covered as a group comparing with its rival industries. For example: Hayleys is one of the main Agricultural product providers to the market and produces products such as tractors, fertilizers, seeds, and services. As there rivals Chemical Industries Colombo (CIC), BOURS Ltd. could be named as there main rivals provides the same products for a considerably low price. The best substitute is the hand tractor which they have introduced for the market which it has the same features in the tractor that the Hayleys produced and the price is comparatively lower.
2.5 Potential Entrants.
According to theory a firm must have the opportunity to enter and to exit from the market and the profit levels must be nominal always. But in the real world industrial environment industries do contain characteristics to protect firm’s high levels of profit levels of the potential market and prevent entering to the market for the newly entered rivals.
Considering about the industrial background Hayleys have limitations for penetrating the industry as new entrants. For example the Electricity industry in Srilanka is highly monopolized and there are government barriers for organizations to establish there own private electricity generating technologies to benefit themselves. Therefore, Since Hayleys are involved with the Power and Energy industry they have not directly involved as competitors for the countries monopolized industry, but they exist with the corporation of the government.
With the analysis of the companies competitiveness strategic managers will able to gain an idea about the competitive rivals of the company and by the next section it will provide an explanation how the core competence has effected the company.
3. Core Competency and the Hayleys Company
Core competency refers to something identical company posses or can perform strategically well. This a tool to adjudge the unrivaled asset that could be effectively apply to gain and to introduce value to the customers.
Figure (c) – The Core Competencies Model
The extreme capabilities of impressive relationship with there customers, promotions which effect the organization or for there products, preferable organizational structures, Information Systems (IS) and Information Communication Technology (ICT) and furthermore, manufacturing and distribution would be one of the competitive advantage also could be called blocks of core competencies. This will lead the company for the development of the core products which may or may not be directly sold to the customers, but this will be effectively used to develop different products.
Further discussions relating to core competence of Hayleys Company it provides various product types in various business sectors such as Fiber, Hand Protection, Purification, Transportation, Agri products, Plantations, Knitted Fabrics, Agri Inputs, Consumer Products, Industry Inputs, Power and Energy, Investments and Services, Resorts, Aviation and Destination Management Services and they made products and services characteristic for their company comparing with their main competitors namely, Chemical Industries Colombo (CIC) . Therefore, the bellow figures will demonstrate the competencies through the products and service areas.
Figure (d) – Services and Products of Hayleys Co.
Figure (e) – Services and Products of CIC Co.
Using that as evidence, Hayleys Co. competes with almost all the industrial areas that are available in the present industrial environment. The competition with there rivals are performed by making the necessary changes by adopting and performing Information Communication Technology, Information Systems (IS/IT) along with proper strategic planning. Partnering with the international community by providing goods for the international market is one of the best competencies for the company and it has not become an ease to penetrate the market because of the frequent introduction of divers products and services.
Segmenting the company into a number of departments and divisions have made easier with their day-to-day processes. With this it has made the organizational strategic managers and the operational managers to figure out the unexpected rival effects for the company and to make necessary strategic plans effecting values and production to more diversify within the industry. Each of those individual divisions or the sectors will be concentrating on their own survival of the industry considering as an individual which has made this process collectively a great benefit in the industry. For example looking in to the Knitting Fabric Sector it has become one of the leading industrial knitting suppliers with the co-operation with Australian partnerships and has become the best fabric material supplier for TESCO, Marks & Spencer, Woolworth and Decathlon, BHS etc. standing as a separate sector for Hayleys Company.
On the other hand while discussing about the Core Competency it is necessary to mention about the customer relationship with the involvement of Information Technology and Information Systems and how it has involved with the advancement of core competency. Interactive web pages with regular updates which provide detailed information about the company, Services, Accolades, and other customer transactions services are provided for the ease of the customers by providing equal care for regular and new customers by providing high customer security, satisfaction for each and every detail that they share.
The introduction of new technologies unique to the company gains more profit and effects with the core competence which will gain the opportunity to compete with the industrial rivals. Organizational News on 2009 revealed that Hayleys Agro Products Limited has introduced two new mechanical devices which could be reduce costs substantially in establishment of crop and which will significantly improve (15%) the harvest of rice paddy from the two cultivation seasons (Yala and Maha). Therefore, with that it is clear, that with the involvement of core competencies Hayleys Company has benefited in various areas to compete with there rivals.
4. The involvement of the Ansoff’s Product/ Market matrix for Hayleys
According to analysis Hayleys Company follows the business unit strategy process, and Ansoff’s Product/ Market matrix is the best way to adjudge the scope and the course of the development in strategy within the industrial environment. Since Hayleys company comprises with two strategic development types such as the Portfolio Strategy and the Competitive Strategy where Portfolio Strategy mentions definitely about the intention for each and every company product and combination of the market and Competitive Strategy mentions definitely about the route to approach these intentions.
4.1 Market Penetration of Hayleys Company
Penetrating the market could be introduced as selling current products in to current markets. Relating this idea with the company, Hayleys has formed with an establishment of strong interrelationship with there regular and irregular customers, suppliers, investors and shareholders (all together Stakeholders) and increasing the number of these stakeholders along with proper Customer Relationship Management was one of the great concerns and threats for the survival of the industrial environment. To overcome from issue Hayleys spreaded in a vast range of business sectors by providing better services and increasing the satisfaction for there products.
4.1.1 The Involvement of Information Communication Technology (ICT) and Information Systems (IS) to achieve market penetration of Hayleys Company.
Information Communication Technology and Information Systems plays a great role to achieve market goals for the company and this has enabled to encourage methodologies to compel and to identify the best practices for sales such as number of sales, services and inquiries made with their customers and to get an idea about the automated activities and practices made by marketing and sales which are related to the customer and the market. How ever to ease the process and to provide an accurate service the company has implemented establishments to cover the variety of sectors with the involvement of Electronic Data Interchange (EDI) or e-commerce, Executive Information Systems (EIS) and other web based technologies. The technological involvement with the supply chain has made the opportunity to supply products and goods according to the customers’ satisfaction.
4.2 Diversification of Hayleys Company
Diversification is one of the business strategies that any organization looks forward to and this could be further divided into four types such as:
Horizontal Diversification (new products in current markets)
Vertical Diversification (move in to firms employee, supplier’s or customer business)
Concentric Diversification (new product closely related to current product in new market)
Conglomerate Diversification (new product in new market)
This strategy could be identified as selling new products in to new markets. However, this is known as a strategy where it could be more risky because the tendency is towards a market were there is less or zero experience. Therefore, before adopting the diversification strategy, strategic managers of Hayleys Company should have an explicit idea about what they are expecting from this strategy and an appraisement of risks.
4.2.1 The Involvement of Information Communication Technology (ICT) and Information Systems (IS) for diversification of Hayleys Company.
Since Hayleys Company has already diversed themselves in a vast area of the business sector, penetrating the market further into more diversed fields would be more easier than they expected considering the market position, reputation, the services that they provide for the customers and the international market that they have gained. The involvement of Information Communication Technology and Information Systems has improved the opportunity to analyze, and to make necessary transactions by with there stakeholders.
According to recent NEWS released by Hayleys Company, revealed that they have supplied and have implemented (Sampath Bank established in Jaffna is one of the establishments established with this technology) over 1000 convertainers (Converted Containers) fabricated, furnished and fully equipped and catered to those who required functional space with furnished functional areas in a hurry providing the opportunity for expansion business and projects to proceed quickly and efficiently, is one of the best examples for diversification.
4.3 Product Development of Hayleys Company
Product Development refers to a strategy of growth where more of the existing products and services are provided to the same market. To adapt this strategy the company should require developments of novel accomplishments and necessitates the business to improve changed products which will attract in the markets.
4.3.1 The Involvement of Information Communication Technology (ICT) and Information Systems (IS) for diversification of Hayleys Company.
Before developing a proper product there is certain information to be gathered to make this process drive more effective and beneficial for the company. Details which involved on this process could be illustrated such as:
Information which will be more helpful to get an idea about whether there is a potential market for the idea, and if there is, giving proper estimations, demand and allocating a proper price for the product is necessary.
Financial feasibility and legal approval is another important point which is needed to be considered. This mainly analyses whether the company can afford referring to their current financial situation (Investments made by the regular investors for the company has made a crucial factor on this process) and whether it is possible to gain the necessary governmental and industrial approvements.
Therefore, looking at the involvement of Information Communication Technology (ICT) and Information Systems (IS) of the organization, along with Customer Relationship Management system (CRM) and Executive Information Systems (EIS) have made easier for strategic managers to make strategic decisions effectively on product development of the company. The implementation of Convertainers could be named as one of the example for product development which was given under diversification.
4.4 Market Development of Hayleys Company
Market development concentrate on a strategy where the company sells the same product and services in new markets. Approaching this strategy could be done in many ways, which includes,
Modern geographical markets: products could be exported to new countries.
Modern scales of products and packaging: introduction of a channel of distribution.
Diverse policies for pricing to which attracts customers or introduction of modern market segments.
With the involvement of Information Communication Technology (ICT) and Information Systems (IS), timely information has been gathered (this specially involve with the company’s e-commerce sites which have gained an opportunity to understand the movements of there potential customers) for proper strategic decisions to identify the market development areas for the company.
2009 company NEWS revealed that a home grown sustainable sourcing initiative rooted in empowering smallholder rubber farmers has resulted in Srilanka’s Dipped Products PLC (DPL) giving the world its first Fair Trade rubber gloves and as a result of this natural rubber glows with a variety of styles were supplied as DPL’s own brands as well as glows which was made in Srilanka by DPL for ‘Traidcraft’, one of the UK’s leading fair trade organization, and reaching many countries as Fair Trade gloves and have represented first in the worldwide rubber glove sector and with that it is clear that Hayleys Company always look forward for Market Development to increase their business growth.
5. Identifying the Key Roles of the Company
PAEI which stands with four main key roles namely
P – Producer
The most superior person who involve with the responsibility of driving the company toward its achievements.
A – Administrator
Involves with the organization by performing activities on organizing, systematizing, and controlling.
E – Entrepreneur
Involves with awaiting and motivating and to adopt excessive changes of the organization.
I – Integrator
Known as team builders of an organization. Mainly concentrates about managing between persons, department, and supplier client alliance to function the organization as a collection.
to make a team of successful management for an organization.
This could be introduced as the word made from initial letters of other words to appraise the subscription of each member of a team in various fields. The main conception of this particular framework (PAEI Framework) is that none of the managers individually cannot meet the overall necessities of a corporation. Therefore, to deal with the percent complexity, the company should come up with a team of managers where governance will be taken place and the relationships between these roles does not always have to be one on one.
Figure (g) – The Governance Framework of Hayleys Company
Furthermore, the bellow description will demonstrate the PAEI roles of Hayleys Company.
5.1 PAEI Roles of Hayleys Company
5.1.1 Producers of the Company
Taking in to consideration about the producers of Hayleys Company it is based on a team effort and it consists with twelve Directors including the Chairman, Chief Executive, and the Deputy Chairman along with another five of Non-Executive Directors. Since the date of establishment, the achievements of the company’s business sectors which have already captured in the local and international markets are improved by gaining trust and quality among their customers, resulting with the strategic influences such as enhancement of shareholder value, formulating business policy, strategy and implementation, approve changes of portfolio, ensure employee productivity, rewords and other benefits, ensure effective information control and risk management, ensure compliance with ethical standards and laws, approval of annual budgets and monitoring etc.
5.1.2 Administrators of the Company
The main responsibility of the Administration division of Hayleys Company is the preparation and promotion of the entire role of the organization. The processed launched for this purpose are as Recruitment, remuneration and discipline of all personnel, Training and succession planning, Negotiation with trade unions and manual and clerical personnel, expenditure approval, Supervision of financial authority, Maintenance of safety etc.
5.1.3 Entrepreneurs of the Company
Identified as risk taking managers of a Company, the implementers of Hayleys Company has played a great role for the development and to support the strategic movements. The introduction of new analytical support systems for the managerial levels such as evaluation systems and new technologies for customer transaction (promotions in e-commerce) have being identified and implemented with the involvement of research and development along with ethically established standards.
5.1.4 Integrators of the company
Integrators are one of the important roles performed for the Hayleys Companies day-to-days activities and its diversification through out the business sector. The involvement for new research and development projects (Wind Power Generation Plants) and new introductory systems such as Evolution systems involved with Information Communication Technology and Information Systems were practiced with their help and within the business sectors of the company.
However, the analysis which has performed up to this point could be determined; that Hayleys Company holds the place of the initial stage of the CMM (Capability Maturity Model) and this will be analytically presented in the following section.
6. The CMM (Capability Maturity Model) and the Hayleys Company.
The Capability Maturity Model (CMM) mainly refers to as a model that uses wide key principles directing action for development in advance software in organizations. How ever this model basically covers five maturity levels involved with a set of standardized series of stages which are explained bellow under this section.
Figure (h) – The Capability Maturity Model
The Initial Level
At this level the organization’s environment is not stable and the processes are mainly ad hoc and the success of the organization depends on the competence of the workers of the organization. Mostly at this level the product and services exceeds projects budget and schedule levels. However this mainly depends based on the quality of the workers of the company.
The Repeatable Level
The development of the success of the software is repeatable and the process won’t be repeatable for certain projects of the company. At this level primary management on projects are used to mark the cost and the schedule. However the discipline of a process is properly placed to apply projects similar which are previously driven.
The Defined Level
Mainly this level concerns with a standard set of action which has brought in to service to set up companionship over the organization according to a set of standard guidelines and these guidelines confirms the intentions are clearly addressed and the essential distinction among the levels 2 and 3 will be its scope of description of process, and the policies.
The Managed Level
When established Application Development process, the organization concerns about development of statistical capabilities which could be expected and explained results by accomplishing business in this model. These basic principles provide a great knowledge of the capability of development procedure and the performance variations.
The Optimized Level
In the process of the targeted business objectives could not be achieved. Even though a top level matured organization, cause of evaluation of capability studies has to be maintaining continuously. In this manner the areas that have to go under improvement can be identified and with their experience the organization could produce more productivity and evaluate new methods and technologies implemented.
6.1 The Involvement of CMM within Hayleys Company
Initial Level – At this level the company’s main intention was to diversify the services provided according to the demand from there customers of Hayleys company. The introduction of management strategies have involved to move forth to the repeatable level.
Repeatable Level – At this level the Company adapted previously experienced successed strategies along with the involvement of a certain limit of ICT and IS for the development of the company to compete with their competitors.
Defined Level – This level mainly involved with a number of named or identified processes were the company has mainly concentrated to achieve the targeted markets by providing services both locally and internationally providing customers and the management experiencing the technological advancements and has moved towards the managed level.
Managed Level – Hayleys have taken measures for the management of their projects and development processes with the involvement of past information and technological development and this has promoted the company towards the optimized level.
6.2 Hayleys Reaches Optimized Level, How?
Spanning through a vast range of business sectors.
As mentioned under Core Competencies, Hayleys have confirmed their business stability by covering a vast range of business sectors such as Fiber, Hand Protection, Purification, Transportation, Agri products, Plantations, Knitted Fabrics, Agri Inputs, Consumer Products, Industry Inputs, Power and Energy, Investments and Services, Resorts, Aviation and Destination Management Services, both locally and internationally providing 100% maintained quality and standard as required for their customers.
Foreign and Local investments
The trust worthy services and products comprising with 132 years of business sector experience, along with a consolidated turnover of Rs.32.4bn in 2008/2009 with an increase of 4.7% from the previous year. Therefore, a new investment opportunity in the international market continues further.
Figure (I) – The Group Turnover of Hayleys Company
Figure (J) – The Group Turnover quarter wise
Project Development and Technological Development
The involvement of investors on innovating new environmentally harmless products under projects have involved mainly with the increase of the income internationally, locally and the competency of the company. Technological development on the other hand have involved mainly with the growth. Innovative Information Communication Technologies and Information Systems such as Customer Relationship Management system, Executive Information Systems and Organizational Growth Evaluation systems have involved the organization to reaching the optimized level of the Capability Maturity Level (CMM).
7. The Involvement of Information Communication Technology (ICT)/
Information Systems (IS) and the Strategic Movement of the company.
Referring to Hayleys current business environment, the main intention is to expand itself within the business framework applying necessary business strategies. Therefore this has involved ICT and IS such as:
Customer Relationship Management Systems (CRM)
Executive Information Systems (EIS) or e commerce systems.
Organizational Worker Evaluation Systems (ES)
Other internet bases facilities (e-mail, teleconferencing etc.)
Furthermore, the following will demonstrate the information strategy and business strategy move of the organization.
7.1 Hayleys Company’s Business Strategic Move
Product and Product Design
Reinforce uniqueness of the brand
Introduce uniqueness of the product and design
Expansion of market opportunity with the involvement of Research and Development.
Replacement of organizational personal.
Introduction of various technological products which could increase productivity and the production for the company
The involvement of analytical systems for strategic decisions.
Speed up innovations in sector vise products (Power & Energy, Agriculture)
To leverage the international purchasing power creation among local environmental friendly products in the international markets.
To increase efficiency of production to fulfill the necessity of the consumer locally and globally.
Sales and Marketing
Introduction of novel unique products
Annual product promotions
Organizing training programs for products
Expand more in local and international markets.
Highly web base systems which involves with cost saving, high customer satisfying and timely information.
E-commerce for international business relationships and transactions.
Deduct unnecessary expenditure
Support product development for achieving profit.
Monitor, evaluate and affirm to achieve budget targets
Gain more investments
Human Resource Management
Individual evaluation according to the performance and talent.
Introduction of Environmentally safe products.
7.2 Hayleys Company’s Information Communication Systems and Information Systems Strategic Move.
Reducing ICT Cost
A strategy to unify, centralize and standardize application systems to deployed in various sectors.
A Web based service (E- Commerce) for customers where they can communicate, and make necessary transactions.
CRM, EIS and ES and e-mail services catering to most sectors in the group, and a group wide system for data communication.
Sector specific resources such Logistic Management Systems (LMS).
Finally, after a thorough study about Ensuring Organizational existence with ICT/ IS and its involvement for strategic Development in Hayleys Company, it is clear that the strategic management and the involvement of ICT and IS such as CRM, EIS, and ES etc. have been effectively used to compete with the varying markets strategically both locally and Internationally by providing 100% efficient and customer friendly services (Further suggestions, on implementing Content Management Systems would increase work efficiency). Proper implementation of services along with R&D (Research and Development) in properly identified business sectors the company has involved with 2.6 percent of export income for Srilanka’s.Order Now