Argentina s Convertibility Plan Case Solution

The Harvard Business Review published a case study that primarily focuses on Argentina s Convertibility Plan. 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, Argentina s Convertibility Plan 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 Argentina s Convertibility Plan 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 Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to ensure that the company is able to respond to all the changes in the macro-environment. This is because Argentina s Convertibility Plan cannot control the factors and thus can directly influence the company's operations (Indris & Primiana, 2015). The external environment of Argentina s Convertibility Plan will be assessed using PESTLE Analysis.

Political

• A stable political environment provides a favorable market growth trend for Argentina s Convertibility Plan.

• It is important for Argentina s Convertibility Plan 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 Argentina s Convertibility Plan by impacting imports and exports.

Economic

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan, signaling the ability of consumers to spend on more products.

• Higher rates of interests can provide Argentina s Convertibility Plan with more investment opportunities.

• The flexibility in the labor market allows Argentina s Convertibility Plan to take advantage of higher workforce productivity.

Social

• The selection of appropriate demographic segments has allowed Argentina s Convertibility Plan to select the right segments of the market that have high growth potential.

• The research on gender roles has helped Argentina s Convertibility Plan to develop and align communication as well as marketing strategies accordingly.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan 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).

• Argentina s Convertibility Plan should maximize its profits by investing in disruptive technologies.

Environmental

• It is crucial for Argentina s Convertibility Plan to adopt effective waste management practices to reduce environmental pollution (J. K, W. J, & D., 2016).

• Argentina s Convertibility Plan should adopt eco-friendly products to establish better relationships with the stakeholders.

• Argentina s Convertibility Plan can take advantage of subsidies offered in renewable technologies to achieve the long-term goal of sustainability.

Legal

• Argentina s Convertibility Plan should follow proper laws concerning employee health and safety, and anti-discrimination laws to effectively develop HRM.

• Consumer protection laws are also important for Argentina s Convertibility Plan as it involves the consumer protection from fraudulent marketing (S. Samusenko, S. Plaskova, & A. Prodanova, 2020).

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan’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 Argentina s Convertibility Plan.

• The industry has a strong product differentiation, and heavy investment is needed for customer acquisition. Thus, Argentina s Convertibility Plan 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 Argentina s Convertibility Plan 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.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to easily switch their suppliers (Fabbri & F.Klapper, 2016).

• Raw materials can be purchased at lower prices by Argentina s Convertibility Plan. The company can also switch suppliers for more reasonable pricing.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan industry is weak.

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

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan can offer lower prices to attract customers.

Threat of Substitute Products or Services

• There are few substitute products available in the industry in which Argentina s Convertibility Plan operates.

• Expensive substitutes are available in the industry of Argentina s Convertibility Plan, 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 Argentina s Convertibility Plan 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 Argentina s Convertibility Plan operates has highly differentiated products, making it difficult for companies to win each other customers.

• Argentina s Convertibility Plan can focus on making more differentiated products to gain a strong competitive edge in the market (Zhao, Zuo, & Wu, 2016).

Internal Environmental Analysis

Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to identify the company’s internal strengths, weaknesses, opportunities, and threats (Halmaghi, Iancue, & Băcilă, 2017).

SWOT Analysis

Strengths

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to have a high level of customer engagement (Rizaldi, 2015).

• Argentina s Convertibility Plan has been successful in building a large product portfolio, so unique and distinctive products can be offered to consumers.

• Argentina s Convertibility Plan has a strong brand image in the market.

• A low-cost structure of Argentina s Convertibility Plan has allowed it to manufacture products at lower costs, so they become affordable for consumers to purchase.

• The financial position of Argentina s Convertibility Plan is strong as the company has generated higher profits over the past years (Phadermrod, M.Crowder, & B.Wills, 2019).

• Argentina s Convertibility Plan has invested in the training and development of its employees to keep them motivates, leading to higher efficiency and productivity.

Weaknesses

• The expenditure of Argentina s Convertibility Plan on its research and development is comparatively less to other competitors of the market.

• Argentina s Convertibility Plan uses a centralized decision-making process that takes time and reduces operational efficiency (Ahmadi, Dileepan, & K. Wheatley, 2016).

• There are high rental costs because Argentina s Convertibility Plan operates on more of the rental properties rather than purchasing them.

• There is no workforce diversification in Argentina s Convertibility Plan. 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, Argentina s Convertibility Plan can take it as an opportunity to expand its online presence.

• Argentina s Convertibility Plan can make use of social media platforms to market its products, with more customers interactions.

• Due to more technological developments, Argentina s Convertibility Plan can make its operations more automated so that overall company costs can be reduced (Ahmadi, Dileepan, & K. Wheatley, 2016).

• Globalization provides an opportunity to Argentina s Convertibility Plan to expand its operations in multiple countries.

• Argentina s Convertibility Plan can enter in a niche market and sell distinctive products to gain a competitive advantage.

• The increase in the demand of environmentally friendly goods, Argentina s Convertibility Plan, 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 Argentina s Convertibility Plan to buy raw materials at lower costs.

• Numerous players are entering the industry, posing a major threat to Argentina s Convertibility Plan.

• There has been constant pressure on Argentina s Convertibility Plan 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 Argentina s Convertibility Plan.

VRIO Analysis

Argentina s Convertibility Plan uses VRIO Analysis to assess and evaluate the company resources to determine the competitiveness, and strategic advantage.

Valuable

• Argentina s Convertibility Plan has a strong brand image and engages in corporate social responsibility.

• Argentina s Convertibility Plan has a high brand recognition because of the quality of products it offers to its customers (Ariyani & Daryanto, 2018).

• The distribution system of Argentina s Convertibility Plan is valued all round the world. The company has been able to successfully establish strong relationships with its suppliers.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan has been able to penetrate the market through its ability to raise large funds.

Rare

• Argentina s Convertibility Plan operates globally. This global presence has allowed the company to increase its customer base (Miethlich & G. Oldenburg, 2019).

• Argentina s Convertibility Plan has an organizational culture that promotes more teamwork, innovation, and creativity among its employees, that leads to a competitive advantage.

• Since Argentina s Convertibility Plan has a global presence, it allows the company to easily adapt to different cultures, norms and values.

• The risk-taking ability of Argentina s Convertibility Plan is strong. This provides more opportunities to the company to penetrate different markets.

Inimitable

• The inimitable resource for Argentina s Convertibility Plan is its high-quality products. These products have allowed consumers to make repeat purchases.

• Argentina s Convertibility Plan operates through multiple locations of stores in different companies, allowing easy access to products.

• Strong marketing communications have been used by Argentina s Convertibility Plan to attract more customers.

• Argentina s Convertibility Plan has been using integrated technology that has allowed it to offer competitive pricing to its customers (Ariwibowo, Saputro, & Haryanto, 2021).

• Argentina s Convertibility Plan maintains an excellent customer service that has enabled it to have a high brand engagement.

Organization

• Strong financial position has allowed Argentina s Convertibility Plan to explore more product development opportunities.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan that allow more skills development (Adnan, Abdulhamid, & Sohail, 2018).

• The strong value chain and distribution network has enabled Argentina s Convertibility Plan to increase its revenue through the sale of its products.

Marketing Mix

Marketing Mix is needed by Argentina s Convertibility Plan to formulate effective strategies to achieve the company objectives.

Product

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to its customers. These distinctive products are not easily available at competitors.

• The products of Argentina s Convertibility Plan are of higher quality, and thus, customers pay more prices for these products.

• Argentina s Convertibility Plan designs products with traditional designs giving customers more product variety.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to its customers.

Price

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to its customers.

Place

• Argentina s Convertibility Plan uses two channels for its product distribution. This includes online selling and through own stores.

• There are more than multiple stores owned by Argentina s Convertibility Plan globally. This ensures easy product availability to customers (Pogorelova, Yakhneeva, & Agafonova, 2016).

• Argentina s Convertibility Plan has partnered with delivery service companies to distribute its products effectively to consumers.

• Argentina s Convertibility Plan has also adopted an omni-channel distribution system.

Promotion

• Argentina s Convertibility Plan uses a traditional promotional strategy that involves TV advertisements (Fan, Y.K.Lau, & Zhao, 2015).

• Social media advertisements are also adopted by Argentina s Convertibility Plan to increase brand awareness.

• Argentina s Convertibility Plan 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.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to attract and retain customers.

Value Chain Analysis

Argentina s Convertibility Plan can use Value Chain Analysis to identify and assess inter-relationships as well as interdependencies.

Primary Activities

• Argentina s Convertibility Plan’s primary activities involves the production and selling of products to the final consumers (Mintz, J.Gilbride, & Lenk, 2021).

• Argentina s Convertibility Plan has a strong relationship with the suppliers. This ensures that the product is received, stored, and distributed in a timely manner.

• Operational activities of Argentina s Convertibility Plan 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, Argentina s Convertibility Plan has been able to set up optimal costs as well as efficient delivery processes to deliver the product on time.

• Argentina s Convertibility Plan invests in its sales and marketing activities to build relationships with customers.

• Marketing funnel approach is used by Argentina s Convertibility Plan to effectively devise and build sales and marketing activities.

• Argentina s Convertibility Plan offers both pre-sale and post-sales services to its customers.

Secondary Activities

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan has developed a strong HRM (Linkov, Carluccio, Pritchard, & Bhreasail, 2020).

• Argentina s Convertibility Plan uses a cost minimization approach to reduce its costs by analyzing the costs associated with training and hiring the employees.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan are effectively optimized with its inbound, outbound, and operational activities (Maheswari, Yudoko, & Adhiutama, 2019).

Market Penetration Strategies

• Argentina s Convertibility Plan can increase the capacity of its production so it can reach more of the customers in its existing market.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan in marketing and sales activities to increase the chances of successful market penetration.

• Argentina s Convertibility Plan can design and develop a content that increases customer engagement within a particular marketplace.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to penetrate the market.

• Argentina s Convertibility Plan can adopt price cuts in its products to compete in the market. This will give a company a competitive edge over its competitors.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to mitigate the risk factors, and to gain customer groups of the market.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan 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 Argentina s Convertibility Plan for growth purposes. This will also take into consideration the cultural differences.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan.

• Argentina s Convertibility Plan should also invest in brand-building activities as it will give an opportunity to reach more potential customers (C. Koks & M. Kilika, 2016).

• Argentina s Convertibility Plan 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

• Argentina s Convertibility Plan can come up with new improvements and modifications in the existing products to attract the market.

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan to develop something new and innovative that can give a competitive advantage (Kalogiannidis & Mavratzas, 2020).

• Argentina s Convertibility Plan can develop new products by getting into more strategic partnerships.

Diversification Strategies

• Argentina s Convertibility Plan 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 Argentina s Convertibility Plan, where the company can enter into a completely new product development phase that does not exist in the current product line.

• Argentina s Convertibility Plan can also consider to conglomerate by starting a different business.

Conclusion

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

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