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Strategic Management 8 Strategic Management Name and Number of Student Date of Submission Table of Contents A.Introduction to Tassal Group:3 B.External Analysis:4 PESTLE Analysis4 Political4 Social-Cultural5 Technological5 Legal5 Environmental5 C.Internal Analysis:5 D. Recommendations6 E.References8 A. Introduction to Tassal Group: Generally, Tassal Group Limited (TGL) is a one of the leading, fast growing and reputed Australian public company that mainly generates revenues & profits from farming, processing, promotion and auction of Atlantic salmon and other seafood. Moreover, it is also found that, Tassal was founded in the year 1986 as a salmon farming company. Since 2013, the company is listed on ASE (Australian Securities Exchange) under TGR code. In the present time, it is considered one of the biggest, leading and principal producers of Tasmanian grown Atlantic salmon. In the same way, it supplies salmon in both global and local/domestic bazar. In the current time, the company has a strong base of talented, skilled, and experienced people. For case, the company has more than 12000 people in the different states of Australia such as: Queensland, Tasmania and New South Wales (Tassal Group. 2020). Moreover, it employs more than 1530 full time employees It is also engaged in both domestic and export segment. At the same time, it is also analyzed that, TGL is produce different types of salmon formats & flavors from garden-fresh deli and fresh packaged, to smoked and canned. The product range of TGL includes hot smoked & smoked, canned salmon under the different brands names such as: Tassal, Superior Gold and Tasmanian Smokehouse. Furthermore, it is analyzed form the past financial reports of the TGL that, the company’s revenues are growing at the rapid rate from the last five years. The following given table shows total revenues of TGL for last five years such as: All values AUD Thousands 2016 2017 2018 2019 2020 Sales/Revenue 425,185.0 444,716.0 473,933.0 551,343.0 552,614.0 Sales Growth -- 4.59% 6.57% 16.33% 0.23% Basically, market/industry dynamics are the key and major factors that have a direct and indirect impact on the prices as well as behavior of consumers and producers. It is found that, the Tasmanian Salmon industry and Tassal group seek to produce Salmon farming output. This progress would bring risk to forecast plans and optimal growth. In the same way, operational planning via strategic planning process would be dangerous (Tassal Group. 2020). Tassal described favorable salmon market dynamics, with strong consumer demand outpacing supply growth. The company is growing in both domestic and global market. Additionally, the company is facing high competition from other players in the industry. For case, Petuna Aquaculture, Cermaq Group, The New Zealand King Salmon, Bakkafrost, SalMar ASA, Camanchaca etc. are the main competitors of TGL. These are affecting the business operations, strategies, polices and revenue of TGL negatively (Furrer, Thomas, & Goussevskaia, 2008). B. External Analysis: In order to access, analyze and understand the external environment of TGL, PESTLE analysis would be conducted. PESTLE Analysis: It is a strategic management tool or framework used to examine and analyze the key factors (Political, Economic, Sociological, Technological, Legal and Environmental) affecting a company’s business operations, strategies, practices, and polices from outside. This tool helps a company in addressing as well as examining external/non-controllable factors that have direct and indirect impact on the functioning and business operations of the organization (Ethiraj, Gambardella, & Helfat, 2016). · Political: The present political scenario/ environment of Australia is more operate and appropriate as compare to the other countries of the global world due to political stability, strong foreign trade policy & taxation polices, appropriate fiscal policy etc. This is beneficial for the business operations and success of TGL. But, trade restrictions, strict environmental & labor laws, new taxation regulations, political instability etc. are the fundamental political factors that may negatively affect the growth, success, functioning and strategies of TGL negatively (Doz, 2017). For example, the future political uncertainty may affect the spending patterns as well as income level of consumers negatively. But, the Australian administration had proposed and executed various friendly, cooperative and supportive business norms, regulations and standards which would help the company to grow in the future. Reduction on the corporate taxes and strict trade regulation is beneficial for the company (Collings, & Mellahi, 2009). Economic: The government of the Australia had implemented a number of specific and appropriate economic strategies and models after the financial crisis 2008 in order to improve economic position. Due to this, the overall economic situation of country is much effective than others. But, modification in the interest rates, labor cost, exchange rate, taxation rate, Inflation may affect the functioning of TGL negatively (Dibrell, Craig, & Neubaum,2014). · Social-Cultural: TGL has both domestic and international customers and market. So, the company is fully dedicated to offer products as per customer needs, expectations and wants. Simply, it can be said that, TGL is involves both social and cultural factors in offering its products to both domestic and global customers. But, Demographics & Cultural trends, Health consciousness etc. are the key factors that may affect the operations of the company (Cavallo, Ferrari, Bollani, & Coccia, 2014). · Technological: TGL is investing millions of AUD in adopting advanced and innovative technologies to gain sustainable competitive advantages over its competitors. For example, by using advanced green and digital technologies, TGL is able to produce high quality products to its customers. It encourages employees for the use of innovative technologies via tanning. In the same way, it had improved its production ability, market share, reputation, sales/revenue by applying and using advanced and innovative technologies. But, high implementation cost of new technology, tools and machinery is affecting profit level of the company (Cheng & Huizingh, 2014). · Legal: There are certain legal factors such as: minimum wage act, safety standard operating hours, duty of care, product safety act, statutory law, competitive legislation etc. are the fundamental legal factors which affecting the business functioning and operations of the company negatively. So, it is essential for the company to follow and comply with such standards in order to deal with legal issues (Bettis, Gambardella, Helfat, & Mitchell, 2015). · Environmental: In order to protect the natural environment, the company is use supportable resources for the production purpose. It is using green technology to save the natural climate. It strongly follows environmental legislation. Moreover, it is also promote positive business ethics and sustainability. For case, fair trading practices are used to reduce waste. C. Internal Analysis: The VRIO Framework/Analysis is strategic management instruments that are mainly utilized to identify and understand a company’s internal resources & strengths. Resource/Capability Valuable Rare Costly to Imitable Organized Competitive advantage Brand reputation Y Y N Y Competitive advantage Location Y Y Y Y Sustainable Competitive advantage High quality of products/Services Y N N Y Sustainable Competitive parity Customer Support/Services Y Y Y Y Competitive advantage The following given table reflects Tassal Group’s key resources, capabilities and core competencies such as: Resources Capabilities Core Competencies Own Brand Products Value for money Loyal Employees/staff Strong Organizational structure and culture Strong brand name in domestic market (Ambrosini, & Bowman, 2009). Strategic branding Effective SCM Outstanding customer services Dedicated team of people Branded products Strong and effective (Barney, 2017). production abilities Professionalism Strategic Decision Making Industry knowledge Old in market Creative Thinking Team Building D. Recommendations: Based on the outcomes of environmental analysis, it is found that, the following are the main strengths, weaknesses, opportunities and threats of Tassal Group limited such as: Strengths: · Strong and positive brand reputation in both domestic and international market · Solid domestic demand · Quality Research and Development abilities Weaknesses: · Big distance from core market · Lack of sheltered sites Opportunities: · Changes in exchange rates · Growth in domestic and global market · Mainland Australian production expansion Threats: · Changes in the climate · Foreign exchange rate (Albers, Wohlgezogen & Zajac, 2016). · Strict government regulations On the basis of internal analysis, external analysis and company’s business analysis, it is suggested to the management of Tassal Group that the company should pay attention on expanding its business operations across the national boundaries in order to enhance market share and level of profitability. Moreover, the PESTLE of the company is also reflects that, the company should invest in developing new operations at both local and global level. It should also address its technological trends to affect the product design. It should also use more sustainable business practices to enhance business reputation. Along with this, it should adopt new approaches, strategies, methods and techniques to enhance its organizational capabilities via rapid innovation (Bettis, Ethiraj, Gambardella, Helfat, & Mitchell, 2016). At the same time, it should maximize its key strengths by minimizing threats and weaknesses. It should also utilize available opportunities to be success and market leader in the industry. Finally, it is suggested that, the management of the company should also pay special attention on adopting, and executing best business, marketing and growth strategies to bring innovation in its business operations and process and enhance profit level (Aggarwal, 2020). E. References Aggarwal, V.A., (2020). Resource congestion in alliance networks: How a firm's partners’ partners influence the benefits of collaboration. Strategic Management Journal, 41(4), 627-655. Albers, S., Wohlgezogen, F. & Zajac, E.J., (2016). Strategic alliance structures: An organization design perspective. Journal of Management, 42(3), 582-614. Ambrosini, V., & Bowman, C. (2009). What are dynamic capabilities and are they a useful construct in strategic management?. International journal of management reviews, 11(1), 29-49. Barney, J. B. (2017). Resources, capabilities, core competencies, invisible assets, and knowledge assets: Label proliferation and theory development in the field of strategic management. The SMS Blackwell handbook of organizational capabilities, 422-426. Bettis, R. A., Ethiraj, S., Gambardella, A., Helfat, C., & Mitchell, W. (2016). Creating repeatable cumulative knowledge in strategic management: A call for a broad and deep conversation among authors, referees, and editors. Strategic Management Journal, 37(2)