Insteel Wire Products ABM at Andrews Case Solution

The Harvard Business Review published a case study that primarily focuses on Insteel Wire Products ABM at Andrews. The following case solution has been designed to give the reader an overview about the business world along with a clear understanding of its growth dynamics. Recently, Insteel Wire Products ABM at Andrews has been subjected to strategic as well as managerial problems that require immediate attention so that they can be resolved to allow future growth, expansion, and competitive edge within the marketplace. This case study solution is being written to provide a strategic solution to Insteel Wire Products ABM at Andrews using various appropriate tools and frameworks. Harvard Business Review’s case studies involve a central problem that is faced by a particular company. The problem identified involves strategic and managerial implications for the company. Therefore, it is important for readers to critically identify the problem Insteel Wire Products ABM at Andrews faces. Moreover, it is also essential to highlight the key stakeholders that are impacted and influenced by the problem identified.

External Environmental Analysis

The external environment holds significant importance for Insteel Wire Products ABM at Andrews to ensure that the company is able to respond to all the changes in the macro-environment. This is because Insteel Wire Products ABM at Andrews cannot control the factors and thus can directly influence the company's operations (Indris & Primiana, 2015). The external environment of Insteel Wire Products ABM at Andrews will be assessed using PESTLE Analysis.

Political

• A stable political environment provides a favorable market growth trend for Insteel Wire Products ABM at Andrews.

• It is important for Insteel Wire Products ABM at Andrews to analyze the pressure groups, and social environment activists. The company can make close collaborations with these groups to achieve company goals (Wang, Wang, & Shi, 2022).

• High restrictions on trade and high levels of taxes can contribute to the complex business environment for Insteel Wire Products ABM at Andrews by impacting imports and exports.

Economic

• Insteel Wire Products ABM at Andrews can benefit from wide-range opportunities in business growth by operating in developing economies (Munro, 2017).

• High GDP can determine the long-term growth strategies of Insteel Wire Products ABM at Andrews, signaling the ability of consumers to spend on more products.

• Higher rates of interests can provide Insteel Wire Products ABM at Andrews with more investment opportunities.

• The flexibility in the labor market allows Insteel Wire Products ABM at Andrews to take advantage of higher workforce productivity.

Social

• The selection of appropriate demographic segments has allowed Insteel Wire Products ABM at Andrews to select the right segments of the market that have high growth potential.

• The research on gender roles has helped Insteel Wire Products ABM at Andrews to develop and align communication as well as marketing strategies accordingly.

• Insteel Wire Products ABM at Andrews has been successful in understanding the norms and cultures of different countries by developing local teams and partnerships (Hueske, Endrikat, & Guenther, 2015).

Technological

• The adoption of innovative marketing techniques that involves communication technologies has allowed Insteel Wire Products ABM at Andrews to collaborate successfully with consumers.

• The company has stayed ahead in the market, and can significantly increase its market share by placing its major focus on emerging technologies (Akpoviroro & Owotutu, 2018).

• Insteel Wire Products ABM at Andrews should maximize its profits by investing in disruptive technologies.

Environmental

• It is crucial for Insteel Wire Products ABM at Andrews to adopt effective waste management practices to reduce environmental pollution (J. K, W. J, & D., 2016).

• Insteel Wire Products ABM at Andrews should adopt eco-friendly products to establish better relationships with the stakeholders.

• Insteel Wire Products ABM at Andrews can take advantage of subsidies offered in renewable technologies to achieve the long-term goal of sustainability.

Legal

• Insteel Wire Products ABM at Andrews should follow proper laws concerning employee health and safety, and anti-discrimination laws to effectively develop HRM.

• Consumer protection laws are also important for Insteel Wire Products ABM at Andrews as it involves the consumer protection from fraudulent marketing (S. Samusenko, S. Plaskova, & A. Prodanova, 2020).

• Insteel Wire Products ABM at Andrews can gain a competitive advantage, and can position itself strongly in the market by protecting intellectual property laws.

Porter’s Five Forces Analysis

Threat of New Entrants

• It is difficult to achieve economies of scale in Insteel Wire Products ABM at Andrews’s industry, making it a weaker force for new entrants.

• There are high capital requirements in the industry. This makes it difficult for new businesses to set up their companies, and compete against Insteel Wire Products ABM at Andrews.

• The industry has a strong product differentiation, and heavy investment is needed for customer acquisition. Thus, Insteel Wire Products ABM at Andrews can focus on innovation to differentiate itself from its competitors (H. Th. Bruijl, 2018).

• There are strict legal requirements to join the industry in which Insteel Wire Products ABM at Andrews operates, making it difficult for new entrants to enter the market.

Bargaining Power of Suppliers

• The bargaining power of suppliers in the industry is weak.

• Insteel Wire Products ABM at Andrews operates in an industry with a higher number of suppliers. This means that suppliers do not have much control over their prices.

• Standardized products that have low switching costs are provided by suppliers allowing buyers like Insteel Wire Products ABM at Andrews to easily switch their suppliers (Fabbri & F.Klapper, 2016).

• Raw materials can be purchased at lower prices by Insteel Wire Products ABM at Andrews. The company can also switch suppliers for more reasonable pricing.

• Insteel Wire Products ABM at Andrews can benefit from a variety of suppliers as it can have multiple suppliers for its various geographical areas (Cho, Ke, & Han, 2019).

Bargaining Power of Buyers

• The bargaining power of buyers in the Insteel Wire Products ABM at Andrews industry is weak.

• There is a high product differentiation in the industry, making it difficult for buyers to switch to alternative firms.

• Insteel Wire Products ABM at Andrews can come with differentiated and innovative products to attract more buyers of the industry (Zhao, Zuo, & Wu, 2016).

• Buyers of this industry has low incomes. This means they prefer to purchase items at lower prices, making them more price sensitive. Organizations like Insteel Wire Products ABM at Andrews can offer lower prices to attract customers.

Threat of Substitute Products or Services

• There are few substitute products available in the industry in which Insteel Wire Products ABM at Andrews operates.

• Expensive substitutes are available in the industry of Insteel Wire Products ABM at Andrews, making it difficult for buyers to switch to those substitutes (Aithal, 2016).

Rivalry Among Existing Firms

• The rivalry among existing firms is moderate to weak.

• There are few competitors in the industry in which Insteel Wire Products ABM at Andrews operates.

• A large market share is enjoyed by fewer firms in the industry. This means that more competitive actions will be made to become leaders in the market (Seema, 2016).

• The industry in which Insteel Wire Products ABM at Andrews operates has highly differentiated products, making it difficult for companies to win each other customers.

• Insteel Wire Products ABM at Andrews can focus on making more differentiated products to gain a strong competitive edge in the market (Zhao, Zuo, & Wu, 2016).

Internal Environmental Analysis

Insteel Wire Products ABM at Andrews can use internal environmental analysis to identify and evaluate the competitive positioning of a company in the business environment. This involves conducting a SWOT Analysis that can help Insteel Wire Products ABM at Andrews to identify the company’s internal strengths, weaknesses, opportunities, and threats (Halmaghi, Iancue, & Băcilă, 2017).

SWOT Analysis

Strengths

• Insteel Wire Products ABM at Andrews has a strong distribution network that has allowed it to make its products available to large customers within the given timeframe.

• A strong presence on social media platforms has allowed Insteel Wire Products ABM at Andrews to have a high level of customer engagement (Rizaldi, 2015).

• Insteel Wire Products ABM at Andrews has been successful in building a large product portfolio, so unique and distinctive products can be offered to consumers.

• Insteel Wire Products ABM at Andrews has a strong brand image in the market.

• A low-cost structure of Insteel Wire Products ABM at Andrews has allowed it to manufacture products at lower costs, so they become affordable for consumers to purchase.

• The financial position of Insteel Wire Products ABM at Andrews is strong as the company has generated higher profits over the past years (Phadermrod, M.Crowder, & B.Wills, 2019).

• Insteel Wire Products ABM at Andrews has invested in the training and development of its employees to keep them motivates, leading to higher efficiency and productivity.

Weaknesses

• The expenditure of Insteel Wire Products ABM at Andrews on its research and development is comparatively less to other competitors of the market.

• Insteel Wire Products ABM at Andrews uses a centralized decision-making process that takes time and reduces operational efficiency (Ahmadi, Dileepan, & K. Wheatley, 2016).

• There are high rental costs because Insteel Wire Products ABM at Andrews operates on more of the rental properties rather than purchasing them.

• There is no workforce diversification in Insteel Wire Products ABM at Andrews. This makes it difficult for the employees to adjust with the different workers who belong to different backgrounds.

Opportunities

• Since the online shopping has increased significantly, Insteel Wire Products ABM at Andrews can take it as an opportunity to expand its online presence.

• Insteel Wire Products ABM at Andrews can make use of social media platforms to market its products, with more customers interactions.

• Due to more technological developments, Insteel Wire Products ABM at Andrews can make its operations more automated so that overall company costs can be reduced (Ahmadi, Dileepan, & K. Wheatley, 2016).

• Globalization provides an opportunity to Insteel Wire Products ABM at Andrews to expand its operations in multiple countries.

• Insteel Wire Products ABM at Andrews can enter in a niche market and sell distinctive products to gain a competitive advantage.

• The increase in the demand of environmentally friendly goods, Insteel Wire Products ABM at Andrews, can place its major focus on making such products (E.Quezada, A.Reinao, & I.Palominos, 2019).

Threats

• In recent times, there has been an increase in the bargaining power of suppliers, making it difficult for Insteel Wire Products ABM at Andrews to buy raw materials at lower costs.

• Numerous players are entering the industry, posing a major threat to Insteel Wire Products ABM at Andrews.

• There has been constant pressure on Insteel Wire Products ABM at Andrews to conduct frequent research to understand the changing customer tastes and preferences (Kolbina, 2015).

• Technological advancements require workforce training. This adds to the costs of Insteel Wire Products ABM at Andrews.

VRIO Analysis

Insteel Wire Products ABM at Andrews uses VRIO Analysis to assess and evaluate the company resources to determine the competitiveness, and strategic advantage.

Valuable

• Insteel Wire Products ABM at Andrews has a strong brand image and engages in corporate social responsibility.

• Insteel Wire Products ABM at Andrews has a high brand recognition because of the quality of products it offers to its customers (Ariyani & Daryanto, 2018).

• The distribution system of Insteel Wire Products ABM at Andrews is valued all round the world. The company has been able to successfully establish strong relationships with its suppliers.

• Insteel Wire Products ABM at Andrews focuses on continuous innovation in its business. The company has expanded this innovation in its multiple functional areas.

• There are potential growth opportunities in the market, and Insteel Wire Products ABM at Andrews has been able to penetrate the market through its ability to raise large funds.

Rare

• Insteel Wire Products ABM at Andrews operates globally. This global presence has allowed the company to increase its customer base (Miethlich & G. Oldenburg, 2019).

• Insteel Wire Products ABM at Andrews has an organizational culture that promotes more teamwork, innovation, and creativity among its employees, that leads to a competitive advantage.

• Since Insteel Wire Products ABM at Andrews has a global presence, it allows the company to easily adapt to different cultures, norms and values.

• The risk-taking ability of Insteel Wire Products ABM at Andrews is strong. This provides more opportunities to the company to penetrate different markets.

Inimitable

• The inimitable resource for Insteel Wire Products ABM at Andrews is its high-quality products. These products have allowed consumers to make repeat purchases.

• Insteel Wire Products ABM at Andrews operates through multiple locations of stores in different companies, allowing easy access to products.

• Strong marketing communications have been used by Insteel Wire Products ABM at Andrews to attract more customers.

• Insteel Wire Products ABM at Andrews has been using integrated technology that has allowed it to offer competitive pricing to its customers (Ariwibowo, Saputro, & Haryanto, 2021).

• Insteel Wire Products ABM at Andrews maintains an excellent customer service that has enabled it to have a high brand engagement.

Organization

• Strong financial position has allowed Insteel Wire Products ABM at Andrews to explore more product development opportunities.

• Insteel Wire Products ABM at Andrews is successfully maintaining the efficiency and effectiveness of its business operations with the help of more integrated and advanced technology.

• Employees are given both in-house and off-the-job training opportunities by Insteel Wire Products ABM at Andrews that allow more skills development (Adnan, Abdulhamid, & Sohail, 2018).

• The strong value chain and distribution network has enabled Insteel Wire Products ABM at Andrews to increase its revenue through the sale of its products.

Marketing Mix

Marketing Mix is needed by Insteel Wire Products ABM at Andrews to formulate effective strategies to achieve the company objectives.

Product

• Insteel Wire Products ABM at Andrews has five product categories. Each of these categories has a product line that involves more variety of products (Išoraitė, 2016).

• Highly differentiated products are offered by Insteel Wire Products ABM at Andrews to its customers. These distinctive products are not easily available at competitors.

• The products of Insteel Wire Products ABM at Andrews are of higher quality, and thus, customers pay more prices for these products.

• Insteel Wire Products ABM at Andrews designs products with traditional designs giving customers more product variety.

• Insteel Wire Products ABM at Andrews offers multiple sizes for its every product to make it easy for its customers to select the right product.

• Warranty and same-day delivery option if also provided by Insteel Wire Products ABM at Andrews to its customers.

Price

• Insteel Wire Products ABM at Andrews follows a competitive pricing strategy.

• To attract more customers, bundle pricing has also been used by the company.

• Little higher prices are charged for products that are sold online because of the delivery costs (Thabit & Raewf, 2018).

• Optional product pricing strategy is also adopted by Insteel Wire Products ABM at Andrews for some of its products, such as a base product is offered for a certain price, and there are separate prices for its accessories.

• Regular promotional prices are also offered by Insteel Wire Products ABM at Andrews to its customers.

Place

• Insteel Wire Products ABM at Andrews uses two channels for its product distribution. This includes online selling and through own stores.

• There are more than multiple stores owned by Insteel Wire Products ABM at Andrews globally. This ensures easy product availability to customers (Pogorelova, Yakhneeva, & Agafonova, 2016).

• Insteel Wire Products ABM at Andrews has partnered with delivery service companies to distribute its products effectively to consumers.

• Insteel Wire Products ABM at Andrews has also adopted an omni-channel distribution system.

Promotion

• Insteel Wire Products ABM at Andrews uses a traditional promotional strategy that involves TV advertisements (Fan, Y.K.Lau, & Zhao, 2015).

• Social media advertisements are also adopted by Insteel Wire Products ABM at Andrews to increase brand awareness.

• Insteel Wire Products ABM at Andrews takes part in various events and exhibitions as a way of promoting its products.

• Large sales force is used to provide the customers with a more personal experience.

• Insteel Wire Products ABM at Andrews also makes use of influencer marketing to increase the demand for its products.

• Regular content and deals are posted on the social media pages of Insteel Wire Products ABM at Andrews to attract and retain customers.

Value Chain Analysis

Insteel Wire Products ABM at Andrews can use Value Chain Analysis to identify and assess inter-relationships as well as interdependencies.

Primary Activities

• Insteel Wire Products ABM at Andrews’s primary activities involves the production and selling of products to the final consumers (Mintz, J.Gilbride, & Lenk, 2021).

• Insteel Wire Products ABM at Andrews has a strong relationship with the suppliers. This ensures that the product is received, stored, and distributed in a timely manner.

• Operational activities of Insteel Wire Products ABM at Andrews are effectively aligned.

• For inbound logistics, after the arrival of raw material, the company processes it to manufacture the final product (Hasan, Nekmahmud, & Yajuan, 2019).

• In terms of outbound logistics, Insteel Wire Products ABM at Andrews has been able to set up optimal costs as well as efficient delivery processes to deliver the product on time.

• Insteel Wire Products ABM at Andrews invests in its sales and marketing activities to build relationships with customers.

• Marketing funnel approach is used by Insteel Wire Products ABM at Andrews to effectively devise and build sales and marketing activities.

• Insteel Wire Products ABM at Andrews offers both pre-sale and post-sales services to its customers.

Secondary Activities

• Insteel Wire Products ABM at Andrews has an effective infrastructure that has allowed the company to successfully optimize its value chain.

• The competitive pressure in terms of employee skill development, motivation, and commitment is reduced as Insteel Wire Products ABM at Andrews has developed a strong HRM (Linkov, Carluccio, Pritchard, & Bhreasail, 2020).

• Insteel Wire Products ABM at Andrews uses a cost minimization approach to reduce its costs by analyzing the costs associated with training and hiring the employees.

• Insteel Wire Products ABM at Andrews has been using integrated technology in its value chain activities. This includes technological customer support, research and data analytics concerning product design, and automated software.

• The procurement activities of Insteel Wire Products ABM at Andrews are effectively optimized with its inbound, outbound, and operational activities (Maheswari, Yudoko, & Adhiutama, 2019).

Market Penetration Strategies

• Insteel Wire Products ABM at Andrews can increase the capacity of its production so it can reach more of the customers in its existing market.

• Insteel Wire Products ABM at Andrews can focus on controlling the overhead costs so that it can offer competitive pricing that can attract customers of the market (Dawes, 2018).

• Investments can be made by Insteel Wire Products ABM at Andrews in marketing and sales activities to increase the chances of successful market penetration.

• Insteel Wire Products ABM at Andrews can design and develop a content that increases customer engagement within a particular marketplace.

• Insteel Wire Products ABM at Andrews can assess and identify more enhanced distribution networks (Radpour, Mondal, & Kumar, 2017).

• Improved distribution systems and supply chains can improve the product accessibility for the customers, making it easier for Insteel Wire Products ABM at Andrews to penetrate the market.

• Insteel Wire Products ABM at Andrews can adopt price cuts in its products to compete in the market. This will give a company a competitive edge over its competitors.

• Insteel Wire Products ABM at Andrews can plan strategies where it can focus on acquiring the leading players of the market. Such acquisitions will give the company an opportunity to reach more customer segments.

• Strategic partnerships and joint ventures agreements can be signed by Insteel Wire Products ABM at Andrews to mitigate the risk factors, and to gain customer groups of the market.

• Insteel Wire Products ABM at Andrews can come up with new and innovative features in its already existing product for the market (Daouda, Barth, & T. M. Ingenbleek, 2019).

Market Development Strategies

• It is important for Insteel Wire Products ABM at Andrews to invest in the research and development department so potential markets can be identified (Hilman, Bohari, & Abdullah, 2018).

• Regional expansion strategy can be used by Insteel Wire Products ABM at Andrews for growth purposes. This will also take into consideration the cultural differences.

• Insteel Wire Products ABM at Andrews should also consider to expand its business operations in the international market. This will allow access to a larger customer base.

• New customer groups and segments should be explored by Insteel Wire Products ABM at Andrews.

• Insteel Wire Products ABM at Andrews should also invest in brand-building activities as it will give an opportunity to reach more potential customers (C. Koks & M. Kilika, 2016).

• Insteel Wire Products ABM at Andrews should consider the market education in terms of its product. The company can significantly increase its sales by giving product awareness to new segments.

Product Development Strategies

• Insteel Wire Products ABM at Andrews can come up with new improvements and modifications in the existing products to attract the market.

• Insteel Wire Products ABM at Andrews should undergo the NPD process, so the company is able to assess and identify new points for its customers.

• Regular investments in the research and development will help Insteel Wire Products ABM at Andrews to develop something new and innovative that can give a competitive advantage (Kalogiannidis & Mavratzas, 2020).

• Insteel Wire Products ABM at Andrews can develop new products by getting into more strategic partnerships.

Diversification Strategies

• Insteel Wire Products ABM at Andrews can adopt vertical diversification to develop business. This can be done by adding more products to the existing portfolio (Kalogiannidis & Mavratzas, 2020).

• Horizontal integration can also be adopted by Insteel Wire Products ABM at Andrews, where the company can enter into a completely new product development phase that does not exist in the current product line.

• Insteel Wire Products ABM at Andrews can also consider to conglomerate by starting a different business.

Conclusion

Based on all the models and frameworks discussed above, it is concluded that Insteel Wire Products ABM at Andrews should focus on widening the existing product portfolio. Moreover, the psychological pricing strategy can be adopted. Insteel Wire Products ABM at Andrews should also maintain close relationships with its suppliers to benefit from lower prices. Similarly, Insteel Wire Products ABM at Andrews should develop more integrated outbound logistics for its perishable items. It is also important to continue producing quality and innovative products, so Insteel Wire Products ABM at Andrews is less affected by the new emerging competition in the industry.

References

Adnan, M., Abdulhamid, T., & Sohail, B. (2018). Predicting Firm Performance through Resource Based Framework . European Journal of Business and Management .

Ahmadi, M., Dileepan, P., & K. Wheatley, K. (2016). A SWOT analysis of big data. Journal of Education for Business , 289-294 .

Aithal, P. S. (2016). Study on Insteel Wire Products ABM at Andrews Analysis Technique for Business Models, Business Strategies, Operating Concepts & Business Systems. International Journal in Management and Social Science, 95-115.

Akpoviroro, K. S., & Owotutu, S. O. (2018). Impact of external business enviornment on organizational performance . International Journal of Advance Research and Innovative Ideas in Education, 498-505.

Ariwibowo, P., Saputro, F. B., & Haryanto, H. (2021). Analysis of Strength & Weakness, Using the Concept of Resource-Based View with the VRIO Framework in Sharia Cooperatives. Jurnal Manajemen Strategi Dan Aplikasi Bisnis, 279 - 294.

Ariyani, W., & Daryanto, A. (2018). Operationalization of Internal Analysis Using the VRIO Framework: Development of Scale for Resource and Capabilities Organization (Case Study: XYZ Company Animal Feed Business Unit). Asian Business Research Journal .

C. Koks, S., & M. Kilika, J. (2016). Towards a Theoretical Model Relating Product Development Strategy, Market Adoption and Firm Performance: A Research Agenda. Journal of Management and Strategy.

Cho, W., Ke, J.-y. F., & Han, C. (2019). An empirical examination of the use of bargaining power and its impacts on supply chain financial performance. Journal of Purchasing and Supply Management.

Daouda, F. B., Barth, P., & T. M. Ingenbleek, P. (2019). Market Development for African Endogenous Products. Journal of Macromarketing .

Dawes, J. (2018). The Ansoff Matrix: A Legendary Tool, But with Two Logical Problems. SSRN .

E.Quezada, L., A.Reinao, E., & I.Palominos, P. (2019). Measuring Performance Using SWOT Analysis and Balanced Scorecard. Procedia Manufacturing, 786-793.

Fabbri, D., & F.Klapper, L. (2016). Bargaining power and trade credit. Journal of Corporate Finance, 66-80.

Fan, S., Y.K.Lau, R., & Zhao, J. L. (2015). Demystifying Big Data Analytics for Business Intelligence Through the Lens of Marketing Mix. Big Data Research, 28-32.

H. Th. Bruijl, G. (2018). The Relevance of Porter's Five Forces in Today's Innovative and Changing Business Environment. SSRN .

Halmaghi, E. E., Iancue, D., & Băcilă, M. L. (2017). The Organization's Internal Environment and Its Importance in the Organization's Development. International Conference Knowledge Based Organization , 378 - 381.

Hasan, M. M., Nekmahmud, M., & Yajuan, L. (2019). Green business value chain: a systematic review. Sustainable Production and Consumption, 326-339.

Hilman, H., Bohari, A. M., & Abdullah, S. S. (2018). The mediating effect of cost leadership on the relationship between market penetration, market development, and firm performance. Journal of Business and Retail Management Research.

Hueske, A. K., Endrikat, J., & Guenther, E. (2015). External environment, the innovating organization, and its individuals: A multilevel model for identifying innovation barriers accounting for social uncertainties. Journal of Engineering and Technology Management, 45-70.

Indris, S., & Primiana, I. (2015). Internal And External Environment Analysis On The Performance Of Small And Medium Industries (Smes) In Indonesia. International Journal of Scientific & Technology Research .

Išoraitė, M. (2016). Marketing Mix Theoretical Aspects . International Journal of Research-Granthaalayah.

J. K, N., W. J, O., & D., K. (2016). Does External Environment Influence Organizational Performance? The Case of Kenyan State Corporations. Management and Organizational Studies.

Kalogiannidis, S., & Mavratzas, S. (2020). Impact of marketing mix strategies effective product development issues in MNCs/Retail . International Journal of Business Marketing and Management , 118-125.

Kolbina, O. (2015). SWOT Analysis as a Strategic Planning Tool for Companies in the Food Industry. Problems of Economic Transition, 74-83 .

Linkov, I., Carluccio, S., Pritchard, O., & Bhreasail, Á. N. (2020). The case for value chain resilience. Management Research Review.

Maheswari, H., Yudoko, G., & Adhiutama, A. (2019). Government and Intermediary Business Engagement for Controlling Electronic Waste in Indonesia: A Sustainable Reverse Logistics Theory through Customer Value Chain Analysis. Sustainability.

Miethlich, B., & G. Oldenburg, A. (2019). The Employment of Persons with Disabilities as a Strategic Asset: A Resource-Based-View using the Value-Rarity-Imitability-Organization(VRIO) Framework . Journal of Eastern Europe Research in Business and Economics.

Mintz, O., J.Gilbride, T., & Lenk, P. (2021). The right metrics for marketing-mix decisions. International Journal of Research in Marketing , 32-49.

Munro, M. M. (2017). Analyzing external environment factors affecting social enterprise development. Social Enterprise Journal, 38-52.

Phadermrod, B., M.Crowder, R., & B.Wills, G. (2019). Importance-Performance Analysis based SWOT analysis. International Journal of Information Management, 194-203.

Pogorelova, E., Yakhneeva, I., & Agafonova, A. (2016). Marketing Mix for E-Commerce. International Journal of Enviornmental & Science Education .

Radpour, S., Mondal, M. A., & Kumar, A. (2017). Market penetration modeling of high energy efficiency appliances in the residential sector. Energy, 951-961.

Rizaldi, A. (2015). Control Environment Analysis at Government Internal Control System: Indonesia Case. Procedia - Social and Behavioral Sciences, 844-850.

S. Samusenko, A., S. Plaskova, N., & A. Prodanova, N. (2020). The Analysis of the External Environment to Determine the Practical Focus of Applied Research and Development in the Framework of Innovation. Complex Systems: Innovation and Sustainability in the Digital Age , 245–255.

Seema, S. (2016). Porter's Model: A Critical Examination . International Journal of Engineering and Management Research .

Thabit, T., & Raewf, M. (2018). The Evaluation of Marketing Mix Elements: A Case Study. International Journal of Social Sciences & Educational Studies.

Wang, L., Wang, Y., & Shi, L. (2022). Analysis of risky driving behaviors among bus drivers in China: The role of enterprise management, external environment and attitudes towards traffic safety. Accident Analysis & Prevention.

Zhao, Z. Y., Zuo, J., & Wu, P. H. (2016). Competitiveness assessment of the biomass power generation industry in China: A five forces model study. Renewable Energy, 144-153.