Sears Accounting for Uncollectible Accounts Case Solution

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

Political

• A stable political environment provides a favorable market growth trend for Sears Accounting for Uncollectible Accounts.

• It is important for Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts by impacting imports and exports.

Economic

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts, signaling the ability of consumers to spend on more products.

• Higher rates of interests can provide Sears Accounting for Uncollectible Accounts with more investment opportunities.

• The flexibility in the labor market allows Sears Accounting for Uncollectible Accounts to take advantage of higher workforce productivity.

Social

• The selection of appropriate demographic segments has allowed Sears Accounting for Uncollectible Accounts to select the right segments of the market that have high growth potential.

• The research on gender roles has helped Sears Accounting for Uncollectible Accounts to develop and align communication as well as marketing strategies accordingly.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts 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).

• Sears Accounting for Uncollectible Accounts should maximize its profits by investing in disruptive technologies.

Environmental

• It is crucial for Sears Accounting for Uncollectible Accounts to adopt effective waste management practices to reduce environmental pollution (J. K, W. J, & D., 2016).

• Sears Accounting for Uncollectible Accounts should adopt eco-friendly products to establish better relationships with the stakeholders.

• Sears Accounting for Uncollectible Accounts can take advantage of subsidies offered in renewable technologies to achieve the long-term goal of sustainability.

Legal

• Sears Accounting for Uncollectible Accounts should follow proper laws concerning employee health and safety, and anti-discrimination laws to effectively develop HRM.

• Consumer protection laws are also important for Sears Accounting for Uncollectible Accounts as it involves the consumer protection from fraudulent marketing (S. Samusenko, S. Plaskova, & A. Prodanova, 2020).

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts’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 Sears Accounting for Uncollectible Accounts.

• The industry has a strong product differentiation, and heavy investment is needed for customer acquisition. Thus, Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts 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.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to easily switch their suppliers (Fabbri & F.Klapper, 2016).

• Raw materials can be purchased at lower prices by Sears Accounting for Uncollectible Accounts. The company can also switch suppliers for more reasonable pricing.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts industry is weak.

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

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts can offer lower prices to attract customers.

Threat of Substitute Products or Services

• There are few substitute products available in the industry in which Sears Accounting for Uncollectible Accounts operates.

• Expensive substitutes are available in the industry of Sears Accounting for Uncollectible Accounts, 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 Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts operates has highly differentiated products, making it difficult for companies to win each other customers.

• Sears Accounting for Uncollectible Accounts can focus on making more differentiated products to gain a strong competitive edge in the market (Zhao, Zuo, & Wu, 2016).

Internal Environmental Analysis

Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to identify the company’s internal strengths, weaknesses, opportunities, and threats (Halmaghi, Iancue, & Băcilă, 2017).

SWOT Analysis

Strengths

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to have a high level of customer engagement (Rizaldi, 2015).

• Sears Accounting for Uncollectible Accounts has been successful in building a large product portfolio, so unique and distinctive products can be offered to consumers.

• Sears Accounting for Uncollectible Accounts has a strong brand image in the market.

• A low-cost structure of Sears Accounting for Uncollectible Accounts has allowed it to manufacture products at lower costs, so they become affordable for consumers to purchase.

• The financial position of Sears Accounting for Uncollectible Accounts is strong as the company has generated higher profits over the past years (Phadermrod, M.Crowder, & B.Wills, 2019).

• Sears Accounting for Uncollectible Accounts has invested in the training and development of its employees to keep them motivates, leading to higher efficiency and productivity.

Weaknesses

• The expenditure of Sears Accounting for Uncollectible Accounts on its research and development is comparatively less to other competitors of the market.

• Sears Accounting for Uncollectible Accounts uses a centralized decision-making process that takes time and reduces operational efficiency (Ahmadi, Dileepan, & K. Wheatley, 2016).

• There are high rental costs because Sears Accounting for Uncollectible Accounts operates on more of the rental properties rather than purchasing them.

• There is no workforce diversification in Sears Accounting for Uncollectible Accounts. 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, Sears Accounting for Uncollectible Accounts can take it as an opportunity to expand its online presence.

• Sears Accounting for Uncollectible Accounts can make use of social media platforms to market its products, with more customers interactions.

• Due to more technological developments, Sears Accounting for Uncollectible Accounts can make its operations more automated so that overall company costs can be reduced (Ahmadi, Dileepan, & K. Wheatley, 2016).

• Globalization provides an opportunity to Sears Accounting for Uncollectible Accounts to expand its operations in multiple countries.

• Sears Accounting for Uncollectible Accounts can enter in a niche market and sell distinctive products to gain a competitive advantage.

• The increase in the demand of environmentally friendly goods, Sears Accounting for Uncollectible Accounts, 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 Sears Accounting for Uncollectible Accounts to buy raw materials at lower costs.

• Numerous players are entering the industry, posing a major threat to Sears Accounting for Uncollectible Accounts.

• There has been constant pressure on Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts.

VRIO Analysis

Sears Accounting for Uncollectible Accounts uses VRIO Analysis to assess and evaluate the company resources to determine the competitiveness, and strategic advantage.

Valuable

• Sears Accounting for Uncollectible Accounts has a strong brand image and engages in corporate social responsibility.

• Sears Accounting for Uncollectible Accounts has a high brand recognition because of the quality of products it offers to its customers (Ariyani & Daryanto, 2018).

• The distribution system of Sears Accounting for Uncollectible Accounts is valued all round the world. The company has been able to successfully establish strong relationships with its suppliers.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts has been able to penetrate the market through its ability to raise large funds.

Rare

• Sears Accounting for Uncollectible Accounts operates globally. This global presence has allowed the company to increase its customer base (Miethlich & G. Oldenburg, 2019).

• Sears Accounting for Uncollectible Accounts has an organizational culture that promotes more teamwork, innovation, and creativity among its employees, that leads to a competitive advantage.

• Since Sears Accounting for Uncollectible Accounts has a global presence, it allows the company to easily adapt to different cultures, norms and values.

• The risk-taking ability of Sears Accounting for Uncollectible Accounts is strong. This provides more opportunities to the company to penetrate different markets.

Inimitable

• The inimitable resource for Sears Accounting for Uncollectible Accounts is its high-quality products. These products have allowed consumers to make repeat purchases.

• Sears Accounting for Uncollectible Accounts operates through multiple locations of stores in different companies, allowing easy access to products.

• Strong marketing communications have been used by Sears Accounting for Uncollectible Accounts to attract more customers.

• Sears Accounting for Uncollectible Accounts has been using integrated technology that has allowed it to offer competitive pricing to its customers (Ariwibowo, Saputro, & Haryanto, 2021).

• Sears Accounting for Uncollectible Accounts maintains an excellent customer service that has enabled it to have a high brand engagement.

Organization

• Strong financial position has allowed Sears Accounting for Uncollectible Accounts to explore more product development opportunities.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts that allow more skills development (Adnan, Abdulhamid, & Sohail, 2018).

• The strong value chain and distribution network has enabled Sears Accounting for Uncollectible Accounts to increase its revenue through the sale of its products.

Marketing Mix

Marketing Mix is needed by Sears Accounting for Uncollectible Accounts to formulate effective strategies to achieve the company objectives.

Product

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to its customers. These distinctive products are not easily available at competitors.

• The products of Sears Accounting for Uncollectible Accounts are of higher quality, and thus, customers pay more prices for these products.

• Sears Accounting for Uncollectible Accounts designs products with traditional designs giving customers more product variety.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to its customers.

Price

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to its customers.

Place

• Sears Accounting for Uncollectible Accounts uses two channels for its product distribution. This includes online selling and through own stores.

• There are more than multiple stores owned by Sears Accounting for Uncollectible Accounts globally. This ensures easy product availability to customers (Pogorelova, Yakhneeva, & Agafonova, 2016).

• Sears Accounting for Uncollectible Accounts has partnered with delivery service companies to distribute its products effectively to consumers.

• Sears Accounting for Uncollectible Accounts has also adopted an omni-channel distribution system.

Promotion

• Sears Accounting for Uncollectible Accounts uses a traditional promotional strategy that involves TV advertisements (Fan, Y.K.Lau, & Zhao, 2015).

• Social media advertisements are also adopted by Sears Accounting for Uncollectible Accounts to increase brand awareness.

• Sears Accounting for Uncollectible Accounts 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.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to attract and retain customers.

Value Chain Analysis

Sears Accounting for Uncollectible Accounts can use Value Chain Analysis to identify and assess inter-relationships as well as interdependencies.

Primary Activities

• Sears Accounting for Uncollectible Accounts’s primary activities involves the production and selling of products to the final consumers (Mintz, J.Gilbride, & Lenk, 2021).

• Sears Accounting for Uncollectible Accounts has a strong relationship with the suppliers. This ensures that the product is received, stored, and distributed in a timely manner.

• Operational activities of Sears Accounting for Uncollectible Accounts 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, Sears Accounting for Uncollectible Accounts has been able to set up optimal costs as well as efficient delivery processes to deliver the product on time.

• Sears Accounting for Uncollectible Accounts invests in its sales and marketing activities to build relationships with customers.

• Marketing funnel approach is used by Sears Accounting for Uncollectible Accounts to effectively devise and build sales and marketing activities.

• Sears Accounting for Uncollectible Accounts offers both pre-sale and post-sales services to its customers.

Secondary Activities

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts has developed a strong HRM (Linkov, Carluccio, Pritchard, & Bhreasail, 2020).

• Sears Accounting for Uncollectible Accounts uses a cost minimization approach to reduce its costs by analyzing the costs associated with training and hiring the employees.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts are effectively optimized with its inbound, outbound, and operational activities (Maheswari, Yudoko, & Adhiutama, 2019).

Market Penetration Strategies

• Sears Accounting for Uncollectible Accounts can increase the capacity of its production so it can reach more of the customers in its existing market.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts in marketing and sales activities to increase the chances of successful market penetration.

• Sears Accounting for Uncollectible Accounts can design and develop a content that increases customer engagement within a particular marketplace.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to penetrate the market.

• Sears Accounting for Uncollectible Accounts can adopt price cuts in its products to compete in the market. This will give a company a competitive edge over its competitors.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to mitigate the risk factors, and to gain customer groups of the market.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts for growth purposes. This will also take into consideration the cultural differences.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts.

• Sears Accounting for Uncollectible Accounts should also invest in brand-building activities as it will give an opportunity to reach more potential customers (C. Koks & M. Kilika, 2016).

• Sears Accounting for Uncollectible Accounts 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

• Sears Accounting for Uncollectible Accounts can come up with new improvements and modifications in the existing products to attract the market.

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts to develop something new and innovative that can give a competitive advantage (Kalogiannidis & Mavratzas, 2020).

• Sears Accounting for Uncollectible Accounts can develop new products by getting into more strategic partnerships.

Diversification Strategies

• Sears Accounting for Uncollectible Accounts 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 Sears Accounting for Uncollectible Accounts, where the company can enter into a completely new product development phase that does not exist in the current product line.

• Sears Accounting for Uncollectible Accounts can also consider to conglomerate by starting a different business.

Conclusion

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

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