Cayman Islands Divers Ltd A Case Solution

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

Political

• A stable political environment provides a favorable market growth trend for Cayman Islands Divers Ltd A.

• It is important for Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A by impacting imports and exports.

Economic

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A, signaling the ability of consumers to spend on more products.

• Higher rates of interests can provide Cayman Islands Divers Ltd A with more investment opportunities.

• The flexibility in the labor market allows Cayman Islands Divers Ltd A to take advantage of higher workforce productivity.

Social

• The selection of appropriate demographic segments has allowed Cayman Islands Divers Ltd A to select the right segments of the market that have high growth potential.

• The research on gender roles has helped Cayman Islands Divers Ltd A to develop and align communication as well as marketing strategies accordingly.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A 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).

• Cayman Islands Divers Ltd A should maximize its profits by investing in disruptive technologies.

Environmental

• It is crucial for Cayman Islands Divers Ltd A to adopt effective waste management practices to reduce environmental pollution (J. K, W. J, & D., 2016).

• Cayman Islands Divers Ltd A should adopt eco-friendly products to establish better relationships with the stakeholders.

• Cayman Islands Divers Ltd A can take advantage of subsidies offered in renewable technologies to achieve the long-term goal of sustainability.

Legal

• Cayman Islands Divers Ltd A should follow proper laws concerning employee health and safety, and anti-discrimination laws to effectively develop HRM.

• Consumer protection laws are also important for Cayman Islands Divers Ltd A as it involves the consumer protection from fraudulent marketing (S. Samusenko, S. Plaskova, & A. Prodanova, 2020).

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A’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 Cayman Islands Divers Ltd A.

• The industry has a strong product differentiation, and heavy investment is needed for customer acquisition. Thus, Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A 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.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to easily switch their suppliers (Fabbri & F.Klapper, 2016).

• Raw materials can be purchased at lower prices by Cayman Islands Divers Ltd A. The company can also switch suppliers for more reasonable pricing.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A industry is weak.

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

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A can offer lower prices to attract customers.

Threat of Substitute Products or Services

• There are few substitute products available in the industry in which Cayman Islands Divers Ltd A operates.

• Expensive substitutes are available in the industry of Cayman Islands Divers Ltd A, 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 Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A operates has highly differentiated products, making it difficult for companies to win each other customers.

• Cayman Islands Divers Ltd A can focus on making more differentiated products to gain a strong competitive edge in the market (Zhao, Zuo, & Wu, 2016).

Internal Environmental Analysis

Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to identify the company’s internal strengths, weaknesses, opportunities, and threats (Halmaghi, Iancue, & Băcilă, 2017).

SWOT Analysis

Strengths

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to have a high level of customer engagement (Rizaldi, 2015).

• Cayman Islands Divers Ltd A has been successful in building a large product portfolio, so unique and distinctive products can be offered to consumers.

• Cayman Islands Divers Ltd A has a strong brand image in the market.

• A low-cost structure of Cayman Islands Divers Ltd A has allowed it to manufacture products at lower costs, so they become affordable for consumers to purchase.

• The financial position of Cayman Islands Divers Ltd A is strong as the company has generated higher profits over the past years (Phadermrod, M.Crowder, & B.Wills, 2019).

• Cayman Islands Divers Ltd A has invested in the training and development of its employees to keep them motivates, leading to higher efficiency and productivity.

Weaknesses

• The expenditure of Cayman Islands Divers Ltd A on its research and development is comparatively less to other competitors of the market.

• Cayman Islands Divers Ltd A uses a centralized decision-making process that takes time and reduces operational efficiency (Ahmadi, Dileepan, & K. Wheatley, 2016).

• There are high rental costs because Cayman Islands Divers Ltd A operates on more of the rental properties rather than purchasing them.

• There is no workforce diversification in Cayman Islands Divers Ltd A. 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, Cayman Islands Divers Ltd A can take it as an opportunity to expand its online presence.

• Cayman Islands Divers Ltd A can make use of social media platforms to market its products, with more customers interactions.

• Due to more technological developments, Cayman Islands Divers Ltd A can make its operations more automated so that overall company costs can be reduced (Ahmadi, Dileepan, & K. Wheatley, 2016).

• Globalization provides an opportunity to Cayman Islands Divers Ltd A to expand its operations in multiple countries.

• Cayman Islands Divers Ltd A can enter in a niche market and sell distinctive products to gain a competitive advantage.

• The increase in the demand of environmentally friendly goods, Cayman Islands Divers Ltd A, 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 Cayman Islands Divers Ltd A to buy raw materials at lower costs.

• Numerous players are entering the industry, posing a major threat to Cayman Islands Divers Ltd A.

• There has been constant pressure on Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A.

VRIO Analysis

Cayman Islands Divers Ltd A uses VRIO Analysis to assess and evaluate the company resources to determine the competitiveness, and strategic advantage.

Valuable

• Cayman Islands Divers Ltd A has a strong brand image and engages in corporate social responsibility.

• Cayman Islands Divers Ltd A has a high brand recognition because of the quality of products it offers to its customers (Ariyani & Daryanto, 2018).

• The distribution system of Cayman Islands Divers Ltd A is valued all round the world. The company has been able to successfully establish strong relationships with its suppliers.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A has been able to penetrate the market through its ability to raise large funds.

Rare

• Cayman Islands Divers Ltd A operates globally. This global presence has allowed the company to increase its customer base (Miethlich & G. Oldenburg, 2019).

• Cayman Islands Divers Ltd A has an organizational culture that promotes more teamwork, innovation, and creativity among its employees, that leads to a competitive advantage.

• Since Cayman Islands Divers Ltd A has a global presence, it allows the company to easily adapt to different cultures, norms and values.

• The risk-taking ability of Cayman Islands Divers Ltd A is strong. This provides more opportunities to the company to penetrate different markets.

Inimitable

• The inimitable resource for Cayman Islands Divers Ltd A is its high-quality products. These products have allowed consumers to make repeat purchases.

• Cayman Islands Divers Ltd A operates through multiple locations of stores in different companies, allowing easy access to products.

• Strong marketing communications have been used by Cayman Islands Divers Ltd A to attract more customers.

• Cayman Islands Divers Ltd A has been using integrated technology that has allowed it to offer competitive pricing to its customers (Ariwibowo, Saputro, & Haryanto, 2021).

• Cayman Islands Divers Ltd A maintains an excellent customer service that has enabled it to have a high brand engagement.

Organization

• Strong financial position has allowed Cayman Islands Divers Ltd A to explore more product development opportunities.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A that allow more skills development (Adnan, Abdulhamid, & Sohail, 2018).

• The strong value chain and distribution network has enabled Cayman Islands Divers Ltd A to increase its revenue through the sale of its products.

Marketing Mix

Marketing Mix is needed by Cayman Islands Divers Ltd A to formulate effective strategies to achieve the company objectives.

Product

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to its customers. These distinctive products are not easily available at competitors.

• The products of Cayman Islands Divers Ltd A are of higher quality, and thus, customers pay more prices for these products.

• Cayman Islands Divers Ltd A designs products with traditional designs giving customers more product variety.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to its customers.

Price

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to its customers.

Place

• Cayman Islands Divers Ltd A uses two channels for its product distribution. This includes online selling and through own stores.

• There are more than multiple stores owned by Cayman Islands Divers Ltd A globally. This ensures easy product availability to customers (Pogorelova, Yakhneeva, & Agafonova, 2016).

• Cayman Islands Divers Ltd A has partnered with delivery service companies to distribute its products effectively to consumers.

• Cayman Islands Divers Ltd A has also adopted an omni-channel distribution system.

Promotion

• Cayman Islands Divers Ltd A uses a traditional promotional strategy that involves TV advertisements (Fan, Y.K.Lau, & Zhao, 2015).

• Social media advertisements are also adopted by Cayman Islands Divers Ltd A to increase brand awareness.

• Cayman Islands Divers Ltd A 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.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to attract and retain customers.

Value Chain Analysis

Cayman Islands Divers Ltd A can use Value Chain Analysis to identify and assess inter-relationships as well as interdependencies.

Primary Activities

• Cayman Islands Divers Ltd A’s primary activities involves the production and selling of products to the final consumers (Mintz, J.Gilbride, & Lenk, 2021).

• Cayman Islands Divers Ltd A has a strong relationship with the suppliers. This ensures that the product is received, stored, and distributed in a timely manner.

• Operational activities of Cayman Islands Divers Ltd A 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, Cayman Islands Divers Ltd A has been able to set up optimal costs as well as efficient delivery processes to deliver the product on time.

• Cayman Islands Divers Ltd A invests in its sales and marketing activities to build relationships with customers.

• Marketing funnel approach is used by Cayman Islands Divers Ltd A to effectively devise and build sales and marketing activities.

• Cayman Islands Divers Ltd A offers both pre-sale and post-sales services to its customers.

Secondary Activities

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A has developed a strong HRM (Linkov, Carluccio, Pritchard, & Bhreasail, 2020).

• Cayman Islands Divers Ltd A uses a cost minimization approach to reduce its costs by analyzing the costs associated with training and hiring the employees.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A are effectively optimized with its inbound, outbound, and operational activities (Maheswari, Yudoko, & Adhiutama, 2019).

Market Penetration Strategies

• Cayman Islands Divers Ltd A can increase the capacity of its production so it can reach more of the customers in its existing market.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A in marketing and sales activities to increase the chances of successful market penetration.

• Cayman Islands Divers Ltd A can design and develop a content that increases customer engagement within a particular marketplace.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to penetrate the market.

• Cayman Islands Divers Ltd A can adopt price cuts in its products to compete in the market. This will give a company a competitive edge over its competitors.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to mitigate the risk factors, and to gain customer groups of the market.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A for growth purposes. This will also take into consideration the cultural differences.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A.

• Cayman Islands Divers Ltd A should also invest in brand-building activities as it will give an opportunity to reach more potential customers (C. Koks & M. Kilika, 2016).

• Cayman Islands Divers Ltd A 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

• Cayman Islands Divers Ltd A can come up with new improvements and modifications in the existing products to attract the market.

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A to develop something new and innovative that can give a competitive advantage (Kalogiannidis & Mavratzas, 2020).

• Cayman Islands Divers Ltd A can develop new products by getting into more strategic partnerships.

Diversification Strategies

• Cayman Islands Divers Ltd A 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 Cayman Islands Divers Ltd A, where the company can enter into a completely new product development phase that does not exist in the current product line.

• Cayman Islands Divers Ltd A can also consider to conglomerate by starting a different business.

Conclusion

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

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