Purpose of the assignment: This assignment is designed to get you to think more deeply about how you might solve the management challenge and why your chosen approach could be the “best way.” The main...

BUSM4547 – Assignment 2
BUSM4547 – Assignment 2
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September 17, 2020


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Executive Summary
Business strategy presents the gambit to the processes, decisions and choices that Tonic15 Ltdmake about how they will manage their people and turn their human resource into their biggest assets. It revolves and supports the strategic business plan. Tonic15 Ltd aims to appeal to customers who want a break from the present, and to those who want to invest in a product that will see the future industry. By the virtue of this assignment, I will provide tools and ideas Tonic15 Ltd can implement that will help the activities strategic in nature and more aligned with corporate vision and mission. This report will present complete analysis of recruitment strategy, onboarding, training, competency modelling and how can one effectively train their employees.
It can be said that the company has been putting all its efforts to carry on strategic decision making, measuring the competencies, resources in actions and maintaining the profits. Tonic15 Ltd has successfully handled the strategic management challenges and dilemmas with effortful success in the current domain. This organisation is the global leader and the benchmark for the sale of the Korean Beauty products. Tonic15 Ltd has achieved a 10% of the share market in the UK. The organisation has the specialisation of accessing the global market through D2C and B2B. However, the work will deal with the tension between the external and the internal environment of the company.Competitive strategyTonic15 Ltd is more about making judicious choices and corresponding trade-offs. By the virtue of this report, you will find how activities of managing the talent in the organisation can deliberately help in deliveringdistinguished blend of value to the customer.
Research Question
How can Tonic15 increase engagement of the employee with the company through effective leadership to achieve its goal of improving performance and productivity
It is a known fact that as human, we all are emotional animal and we do not work for companies rather we work for people. This essentially imply that motivation, performance and development all starts and culminates on the leader and its effectiveness. Interestingly what most of the people fail to acknowledge is the impact of the leadership style has on the team, its engagement as well as motivation.
· Motivated Employees are more inclined to perform better and contribute more in the Organisation. If the employees are motivated, they will be willing to go above and beyond their assigned task to perform in their role.
Justification for Selecting the Research Topic
· Overcome its weakness of: higher pricing of the products and withdrawal from the market, is possible with the selection of the research topic. The research topic justify its capacity in helping the company overcome its weaknesses, as sheds light on the leadership of the chosen organisations and hints at the strategic decision made by the company in terms of selling its products in different markets and pricing their products high. The research also topic raises question on the effectiveness of the existing leadership styles and suggests newer approaches towards business could develop new pricing strategy and better business potentials (Helms & Nixon, 2017).
· Seize Opportunities of: acquiring higher market share and larger customer base, and capitalising on them, it is found that the current research topic has the ability to justify its effectiveness as it focuses on the chosen organisation, namely Tonic15 Ltd marketing techniques. Based on the assessment of the SWOT analysis, it is found that Tonic 15 Ltd does business with customers, using multi levels of distribution channel, while retaining full control over their sales, ending up having higher prices for their products (Hill & Westbrook, 2017). The research topic is aligned leadership changes, which might promote B2B and D2C business strategies, and make the opportunity seizing a reality for Tonic 15 Ltd.
· Manage threats of: high competition from the competitors such as small K-beauty companies, is possible through relying on the current research. The current research topic can prove its worth and justify its relevance as it impies that Tonic 15 Ltd needs to change its leadership strategies and adapt business techniques, which includes the improvement its production, so that it can tackle the increased demand for its products in the markets, once it starts using newer business approaches.
· Volatility can reduced if the company can invest in innovation and technological implementation that benefits the customers in terms of offering lower prices or wider variety. Customers and investors would impose trust on Tonic 15 Ltd, once the investment of the company generates fruitful results.
· Uncertainty that has surrounded the chosen organisation points to the secrecy of production process and ingredients used, a policy prioritised by the company. In order to resolve the issue of uncertainty, Tonic 15 Ltd can give out details of the ingredients used and can file copyright if it plans to unveil the process in which it makes its products. It is true that a certain percentage of the customers would be unsatisfied, but the uncertainty would decline.
· Complexity, an element that has hampered the reputation of the company, can be tackled with bringing in of new products, especially, those that are made out of plant-based ingredients. Tonic 15 Ltd must also optimise and revise its distribution channel and instead of selling its products through limited chains and outlets, should collaborate with other business organisation to clear out the complex distribution model for their products.
· Ambiguity is an issue, which for Tonic 15 Ltd, is slightly difficult to resolve. In order to deal with it Tonic 15 Ltd would have to revamp its distribution channels and diversify its product line. The newer product lines, if focused on budget segment that promotes lower prices for Korean Beauty products, then it can clear out a lot of ambiguity about the future of the market.
Goals – Primary goal of the organisation Tonic15 is to improve performance and productivity. The company is looking forward to scale that requires huge work base who are not only aligned but also fully engaged and motivated to perform their task to the best of their ability. Moreover, the company aims to formulate certain strategies for retention of employees as well as clients. This can be done by effective leadership in the organisation who can drive desired actions from the employees as well influence the clients to be associated with Tonic15 Ltd.
Research Theory 1 – Situational Leadership
The situational hypothesis of administration proposes that no single initiative style is ideal. Rather, it relies upon which sort of administration and procedures are most appropriate to the undertaking. As indicated by this hypothesis, the best heads are those that can adjust their style to the circumstance and take a gander at signals, for example, the sort of errand, the idea of the gathering, and different variables that may add to taking care of business(Allen, D., Shore, L. and Griffeth, R., 2003). Situational Leadership is adaptable. It adjusts to the current workplace and the necessities of the association. Situational Leadership did not depend on a particular aptitude of the pioneer; rather, the individual in question alters the style of the executives to suit the necessities of the...