Reflection Essay on Finance

Task 1. 1: 1. There are some key trends which may have infections to Elecdyne during the next 5 years, those factor are shown as follow: •Globalization in all industry may become a very important trend to the company. Because all of the top management team have learnt English, and several of them have studied abroad, that may lead an opening change from the top to the bottom, from minds to actions. •Trade with more and more Asia countries may become a popular tendency to Elecdyne because most of the countries have the cheapest labour and material so that they can produce the products in a very low price. The change of customer needs will also be an important factor which means the different demands in different period may determine the development direction of Elecdyne. •With the development of technology and the society, more and more hi-tech methods of marketing such as on-line shopping or e-trade will play an important role in the business between Elecdyne and other companies. 2. I will choose a STEEP table as the best tool for analysis of the Elecdyne situation because the table may contain more information than the map and it is clearer in each section.
That may be easier for the Elecdyne to make an analysis to their risk and make an improvement in each part. 3. The STEEP table Social trends: ?For their Old rivals who are already know the strategy of Elecdyne may have some influence on their future plan. There are another pressure of those new-growth enterprise and also have some competition to Elecdyne. That because the increase sense in greenness of consumers may be a big challenge. ?The increasing of variety demands may lead the company adjust their principle of management.
In order to ensure customers are satisfactory on their services. And retain their old customers and explore more potential consumers. ?Nowadays, mass media are playing an important role in every field. Either a positive news or negative news can have a big effect on the confidence of the customers. Technological trends: ?Whether the internal department of company can have enough new technical to improve the old products. ?The crash from high technology to the old products so that the old products will be weeded out. There are more and more copy products appear on the market, the company should try their best to maintain their patent right. Economic trends: ?There is a Steady recession of economic lead the cost of product is increasing. That may cause the staffs of the company are unemployed. The company should also make sure the Capital chain can be normally operation. ?Use the lowest cost of the product such as cheap labour from Asia countries so that can make the profit as much as possible. Be certain on the recovery time of economic in order to grasp the opportunity to lead the enterprise to the peak Ecological trends: ?Protecting the ecological can establish good company image ? Nowadays more and more people pay attention to the environmentally-friendly society and green products. ?There are stricter and stricter to the regulation of institutions. ?Renewable energies and new raw materials are becoming more and more popular among the companies which may means more ecological they are, more profit they can earn. Political trends: Whether the government will support the company and the tax of the company is increase or reduce ? The tread barrier can be influence whether the company can have a global business with the world companies. ?Whether the nationality of the company is the member of some trade organizations. That may also be a key factor to affect the trade of the company. Sources: ?Infed: globalization http://www. infed. org/biblio/globalization. htm ?MBA Boost STEEP: Analysis Tool http://www. mbaboost. com/content/177/ ?Contact-bg: STEEP Table http://contact-bg. wikispaces. com/STEEP+Table