Is the Grass Greener on the Other Side An Independent Contractor Case Study Case Solution

1. Introduction

This case study presents a detailed strategic analysis of Is the Grass Greener on the Other Side An Independent Contractor Case Study. The case analysis covers key managerial and strategic issues that Is the Grass Greener on the Other Side An Independent Contractor Case Study is currently facing due to challenging internal and external environments. The case solution first conducts the strategic analysis by applying the relevant strategic management tools and frameworks, and then presents strategic recommendations based on overall analysis (Hamilton and Webster, 2018).

The case offers a holistic view of Is the Grass Greener on the Other Side An Independent Contractor Case Study business environment. Case findings are relevant for all key stakeholders of Is the Grass Greener on the Other Side An Independent Contractor Case Study. Reader should first read the case on Is the Grass Greener on the Other Side An Independent Contractor Case Study, and then read the analysis.

2. External environmental analysis of Is the Grass Greener on the Other Side An Independent Contractor Case Study

The external business environment comprises political, economic, social, technological, legal and environmental factors that influence the strategic positioning of Is the Grass Greener on the Other Side An Independent Contractor Case Study (Khalid and Rahman, 2019).

Here are key external environment characteristics:

External environmental forces are dynamic and uncontrollable

External environment can directly influence the Is the Grass Greener on the Other Side An Independent Contractor Case Study strategic positioning

External environment requires continuous monitoring to timely identify the potential threats and opportunities (Shtal et al. 2018).

2.1. PESTLE analysis of Is the Grass Greener on the Other Side An Independent Contractor Case Study

2.1.1. Political

The Is the Grass Greener on the Other Side An Independent Contractor Case Study must carefully examine the potential impact of global political unrest on its business operations

The Is the Grass Greener on the Other Side An Independent Contractor Case Study should actively monitor, and respond to the changes to legislation

The Is the Grass Greener on the Other Side An Independent Contractor Case Study should analyze how taxation policies can influence its profitability in different countries where the company is currently present (Khalid and Rahman, 2019).

2.1.2. Economic

Rising GDP and growing consumer spending can help Is the Grass Greener on the Other Side An Independent Contractor Case Study in business expansion

Increasing interest rates can increase the debt cost for Is the Grass Greener on the Other Side An Independent Contractor Case Study.

Reducing inflation can decrease the production cost of Is the Grass Greener on the Other Side An Independent Contractor Case Study and increase profitability by driving up the sales revenue (Begley et al. 2005).

2.1.3. Social

The aging population can affect the Is the Grass Greener on the Other Side An Independent Contractor Case Study brand positioning, as Is the Grass Greener on the Other Side An Independent Contractor Case Study currently targets young people.

Growing preferences for luxury items, and improving lifestyles can create more demand for Is the Grass Greener on the Other Side An Independent Contractor Case Study premium-priced products (Perera, 2017).

2.1.4. Technological

Government is granting more technology incentives to fuel the innovation. It can help Is the Grass Greener on the Other Side An Independent Contractor Case Study achieve its innovation objectives.

Emerging automation trends require Is the Grass Greener on the Other Side An Independent Contractor Case Study to revisit its business model, and enhance process efficiency.

Improving technological infrastructure can enable Is the Grass Greener on the Other Side An Independent Contractor Case Study to resolve its supply chain inefficiencies (Shtal et al. 2018).

2.1.5. Environmental

The stringent environmental regulations require Is the Grass Greener on the Other Side An Independent Contractor Case Study to ensure strict compliance with environmental standards.

Consumers’ growing environmental consciousness provides an opportunity to Is the Grass Greener on the Other Side An Independent Contractor Case Study to launch more green, environment-friendly products.

Is the Grass Greener on the Other Side An Independent Contractor Case Study should incorporate environmental thinking in its strategic decision-making process to position itself as a socially responsible organization (Moser, 2015).

2.1.6. Legal

The Is the Grass Greener on the Other Side An Independent Contractor Case Study should take strict measures to avoid discrimination at the workplace.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study must abide by the consumer data privacy laws to avoid reputation-damaging lawsuits

The Is the Grass Greener on the Other Side An Independent Contractor Case Study must also ensure strict implementation of workplace safety standards to comply with the health and safety regulations (Khalid and Rahman, 2019).

2.2. Porter five forces of Is the Grass Greener on the Other Side An Independent Contractor Case Study

2.2.1. Bargaining power of suppliers

The growing number of suppliers is weakening their bargaining power against Is the Grass Greener on the Other Side An Independent Contractor Case Study (Dobbs, 2014).

Is the Grass Greener on the Other Side An Independent Contractor Case Study has a wide supplier network, which strengthens its negotiation ability.

Low product differentiation further reduces the supplier bargaining power, as Is the Grass Greener on the Other Side An Independent Contractor Case Study can easily switch to suppliers that offer better terms and conditions (Dobbs, 2014).

Overall, the bargaining power of suppliers for Is the Grass Greener on the Other Side An Independent Contractor Case Study is low.

2.2.2. Bargaining power of buyers

There are a small number of buyers that buy in large quantities. It enhances their bargaining power against Is the Grass Greener on the Other Side An Independent Contractor Case Study (Cho et al. 2019).

Buyers are price insensitive, and cannot easily switch to other companies due to economic and psychological switching costs. It reduces their bargaining power against Is the Grass Greener on the Other Side An Independent Contractor Case Study.

High product differentiation further discourages the buyers from switching to competitors (Dobbs, 2014).

Overall, the bargaining power of buyers is moderate-to-low for Is the Grass Greener on the Other Side An Independent Contractor Case Study.

2.2.3. Threat of new entrants

High entry barriers make it difficult for new entrants to enter in the market

The high initial capital expenditure also erects an entry barrier for new firms

Is the Grass Greener on the Other Side An Independent Contractor Case Study has a loyal customer base, which further reduces the risk of customers switching to new entrants (Grundy, 2006).

Overall, threat of new entrants for Is the Grass Greener on the Other Side An Independent Contractor Case Study is low.

2.2.4. Threat of substitutes

The emerging innovative technologies are increasing the threat of substitutes for Is the Grass Greener on the Other Side An Independent Contractor Case Study

Growing threat of substitutes is compelling Is the Grass Greener on the Other Side An Independent Contractor Case Study to continuously improve product quality (Bruijl and Gerard, 2018).

Changing consumer demographics and their growing tech-savvy nature is further increasing the substitute threat for Is the Grass Greener on the Other Side An Independent Contractor Case Study

However, the brand loyalty increases the psychological switching costs, which somehow reduces the substitute threat (Dobbs, 2014).

Overall, the substitute threat for Is the Grass Greener on the Other Side An Independent Contractor Case Study is moderate to high.

2.2.5. Industry rivalry

The competition among existing market players is intense

The market is mature, and is approaching saturation point, which further intensifies the industry rivalry

However, high-quality differences and brand loyalty deters the customers from switching to competitors (Dobbs, 2014).

Overall, the industry rivalry is moderate to high, which makes the business environment challenging for Is the Grass Greener on the Other Side An Independent Contractor Case Study.

3. Company level analysis of Is the Grass Greener on the Other Side An Independent Contractor Case Study

Up till now, the case study presented a holistic environmental and industry-level analysis. This section now presents the Is the Grass Greener on the Other Side An Independent Contractor Case Study level analysis by applying relevant tools and frameworks.

3.1. SWOT of Is the Grass Greener on the Other Side An Independent Contractor Case Study

SWOT is a strategic management framework that helps Is the Grass Greener on the Other Side An Independent Contractor Case Study in understanding its core strengths and weaknesses. Framework also identifies opportunities and threats that reside in Is the Grass Greener on the Other Side An Independent Contractor Case Study’s external business environment (Helms and Nixon, 2010).

3.1.1. Strengths

The Is the Grass Greener on the Other Side An Independent Contractor Case Study holds a market leadership position, and has highest market share.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study has high customer loyalty, which makes it difficult for competitors to attract its customers.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study has strong financial health, which allows the company to spend heavily on R&D, and fuel the innovation (Sarsby, 2016).

The Is the Grass Greener on the Other Side An Independent Contractor Case Study has successfully positioned itself as a responsible corporate citizen.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study has a wide supplier and distribution network, which helps in the business expansion (Valentin, 2001).

3.1.2. Weaknesses

The Is the Grass Greener on the Other Side An Independent Contractor Case Study currently has a high employee turnover rate.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study is facing supply chain inefficiencies, which are lowering the organizational productivity (Madsen, 2016).

The Is the Grass Greener on the Other Side An Independent Contractor Case Study is unable to quickly resolve the customer complaints, which causes customer dissatisfaction (Helms and Nixon, 2010).

The hierarchal structure of Is the Grass Greener on the Other Side An Independent Contractor Case Study causes resistance to change.

3.1.3. Opportunities

Is the Grass Greener on the Other Side An Independent Contractor Case Study can invest on emerging automation and artificial intelligence technologies to improve the process efficiency

Is the Grass Greener on the Other Side An Independent Contractor Case Study can accelerate the green product development, and invest on green marketing efforts to capture the attention of environment-conscious customers (Solaiman et al. 2015).

Is the Grass Greener on the Other Side An Independent Contractor Case Study can invest on an online influence marketing strategy to expand the reach to a young population

Is the Grass Greener on the Other Side An Independent Contractor Case Study can find strategic partners around the globe to achieve its expansion objectives (Sarsby, 2016).

3.1.4. Threats

The growing industry competition among existing players and thinning profit margins has become a major threat for Is the Grass Greener on the Other Side An Independent Contractor Case Study

Global political unrest can negatively affect the Is the Grass Greener on the Other Side An Independent Contractor Case Study performance at the international stage

The expanding grey market and the influx of replica goods can negatively affect the Is the Grass Greener on the Other Side An Independent Contractor Case Study revenue (Davidson et al. 2019).

Aging population can threaten the Is the Grass Greener on the Other Side An Independent Contractor Case Study survival that, primarily focuses on young customers

After presenting the SWOT analysis, the next framework analyzing the Is the Grass Greener on the Other Side An Independent Contractor Case Study’s marketing mix strategies.

3.2. Marketing mix of Is the Grass Greener on the Other Side An Independent Contractor Case Study

3.2.1. Product

Is the Grass Greener on the Other Side An Independent Contractor Case Study offers a wide product variety that meets the needs of diverse customers

Is the Grass Greener on the Other Side An Independent Contractor Case Study has consistently maintained high product quality to justify premium prices

Is the Grass Greener on the Other Side An Independent Contractor Case Study invests heavily on the quality improvement and management to meet the customers’ product quality expectations (Singh, 2012).

Is the Grass Greener on the Other Side An Independent Contractor Case Study invests on innovative marketing and communication strategies to set a clear product positioning, and communicate how its products are different from competitors.

Is the Grass Greener on the Other Side An Independent Contractor Case Study offers warranties and after-sale services that enhances the overall customer experience (Ferrell et al. 2021).

3.2.2. Price

Is the Grass Greener on the Other Side An Independent Contractor Case Study adopts a premium pricing strategy, which is aligned with the company’s premium brand image.

Is the Grass Greener on the Other Side An Independent Contractor Case Study avoids offering price discounts to maintain brand exclusivity (Baines et al. 2017).

Is the Grass Greener on the Other Side An Independent Contractor Case Study does not charge any hidden prices, and has integrated transparency in its pricing model

Is the Grass Greener on the Other Side An Independent Contractor Case Study also offers value-added elements, and adopts a bundle pricing strategy to boost the sales (Giri et al. 2020).

Is the Grass Greener on the Other Side An Independent Contractor Case Study offers credit payment options for the customer convenience.

Key factors that Is the Grass Greener on the Other Side An Independent Contractor Case Study considers while setting the prices include- brand image, customers’ expectations and purchase capacity, and on-going competition.

3.2.3. Place

Is the Grass Greener on the Other Side An Independent Contractor Case Study adopts a selective distribution strategy to reach the target market

The Is the Grass Greener on the Other Side An Independent Contractor Case Study chooses distributors who are located in urban areas, and can preserve the premium brand image

Currently, Is the Grass Greener on the Other Side An Independent Contractor Case Study has a distribution network that is spread in more than 50 countries

Is the Grass Greener on the Other Side An Independent Contractor Case Study has adopted Omni-channel strategy, and sells its products through multiple online and offline channels, including- official outlets, authorized distributors, the company website and mobile application (Palmatier et al. 2016).

Well-integrated Omni-channel strategy offers a seamless experience to the Is the Grass Greener on the Other Side An Independent Contractor Case Study customers.

3.2.4. Promotion

Is the Grass Greener on the Other Side An Independent Contractor Case Study avoids offering promotional discounts to preserve the brand exclusivity.

Is the Grass Greener on the Other Side An Independent Contractor Case Study invests heavily on the celebrity endorsement strategies to promote the brand among the target market.

Is the Grass Greener on the Other Side An Independent Contractor Case Study also have a strong social media presence, and specifically focuses on the online influencer marketing strategy to create brand awareness (Varadarajan et al. 2010).

Is the Grass Greener on the Other Side An Independent Contractor Case Study uses both- online and offline marketing and communication channels to promote the brand.

Is the Grass Greener on the Other Side An Independent Contractor Case Study’s promotional strategy is well-aligned with other marketing mix components to develop a clear brand positioning (Palmatier et al. 2016).

3.3. VRIO of Is the Grass Greener on the Other Side An Independent Contractor Case Study

3.3.1. Valuable

The Is the Grass Greener on the Other Side An Independent Contractor Case Study has a wide distribution network that is spread across the globe.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study has extensive research and development capabilities that fuel the innovation process.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study offers a seamless customer experience through a well-integrated marketing mix.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study has strong financial health, and free cash flow that it can invest on innovative projects.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study has a strong presence over social media that drives the customer engagement, and increases the company’s reach to the target market.

The Is the Grass Greener on the Other Side An Independent Contractor Case Study has successfully attracted and retained highly skilled staff that drives the overall organizational productivity, and helps the company in achieving its innovation objectives (Cardeal and Antonio, 2012).

3.3.2. Rare

Is the Grass Greener on the Other Side An Independent Contractor Case Study has built strong relationships with suppliers that enable the company to achieve production objectives even when there is a material shortage in the market

Is the Grass Greener on the Other Side An Independent Contractor Case Study has access to the rare and hard-to-reach raw material that is used to produce top-quality products (Cardeal and Antonio, 2012).

Is the Grass Greener on the Other Side An Independent Contractor Case Study has successfully developed a strong brand reputation that keeps customers hooked with the brand

Is the Grass Greener on the Other Side An Independent Contractor Case Study shares a strong emotional connection with its customers, which increases the psychological switching costs for them (Hernández and Garcia, 2018).

Is the Grass Greener on the Other Side An Independent Contractor Case Study has developed its image as an environment-friendly, sustainable, and responsible brand that takes care of all stakeholders.

3.3.3. Inimitable

Is the Grass Greener on the Other Side An Independent Contractor Case Study has developed an in-depth knowledge of customers’ intrinsic motivational needs, and has developed its brand image in a way that shares close relatedness with customers’ desired self-image (Liu et al. 2012).

Is the Grass Greener on the Other Side An Independent Contractor Case Study has secured exclusive agreements with the suppliers to get access to unique raw materials. The exclusive agreement makes this resource inimitable for Is the Grass Greener on the Other Side An Independent Contractor Case Study

Is the Grass Greener on the Other Side An Independent Contractor Case Study has strong transformational and charismatic top leadership that has always successfully led the organization through a crisis (Nusari et al. 2018).

Is the Grass Greener on the Other Side An Independent Contractor Case Study has developed a robust organizational culture that promotes cohesion, and strengthens the employees’ affective commitment with the organization.

3.3.4. Organized

Is the Grass Greener on the Other Side An Independent Contractor Case Study has secured the access to human capital (skills and expertise) that is needed to exploit the above-mentioned resources.

Is the Grass Greener on the Other Side An Independent Contractor Case Study has a well-developed technical infrastructure that supports the business operations, and fuels the innovation process.

Is the Grass Greener on the Other Side An Independent Contractor Case Study has built extensive expertise, and gained years of experience that helps the company in leveraging its core strengths to exploit the available opportunities.

Is the Grass Greener on the Other Side An Independent Contractor Case Study has built strategic partnerships that help the company in pooling the resources together to gain a strong competitive edge over rivals (Cardeal and Antonio, 2012).

3.4. BCG of Is the Grass Greener on the Other Side An Independent Contractor Case Study

3.4.1. Stars

The core products of the Is the Grass Greener on the Other Side An Independent Contractor Case Study fall in the star category. Is the Grass Greener on the Other Side An Independent Contractor Case Study has secured market leadership in these categories

Is the Grass Greener on the Other Side An Independent Contractor Case Study’s market share in these product categories is growing due to high market growth potential

Is the Grass Greener on the Other Side An Independent Contractor Case Study should pay specific attention to these product categories, and should try to preserve the market share

The intensifying competition imposes a threat to the Is the Grass Greener on the Other Side An Independent Contractor Case Study’s market leadership in the ‘Star’ category

Overall, Is the Grass Greener on the Other Side An Independent Contractor Case Study should increase investment on the star category to maintain leadership in the growing market (Mohajan, 2017).

3.4.2. Cash cows

Is the Grass Greener on the Other Side An Independent Contractor Case Study has several product categories in which the firm has attained the market leadership position.

However, the market growth in these product categories has become slowed with time, as the market has become mature.

Is the Grass Greener on the Other Side An Independent Contractor Case Study should ‘milk’ these product categories as they are an important source of cash flow.

However, Is the Grass Greener on the Other Side An Independent Contractor Case Study should avoid increasing investment due to slowed market growth, and should bring innovation to keep adding new features.

Overall, Is the Grass Greener on the Other Side An Independent Contractor Case Study should aim to maintain the current market position, but avoid increasing the investment due to slow market growth (Kader and Hossain, 2020).

3.4.3. Question marks

Is the Grass Greener on the Other Side An Independent Contractor Case Study has some product categories that are in a growing market segment. Despite high market growth, Is the Grass Greener on the Other Side An Independent Contractor Case Study is unable to increase the market share in these segments.

The products under this category have the potential to become stars, as they operate in a high-growth market.

But, extensive investment is needed to understand the reasons behind the low market share, and it can affect the cash flow of Is the Grass Greener on the Other Side An Independent Contractor Case Study.

Therefore, Is the Grass Greener on the Other Side An Independent Contractor Case Study needs to evaluate if it is feasible to increase the investment to drive the market share, or it is wise to divest from this market segment (Mohajan, 2017).

3.4.4. Dogs

Is the Grass Greener on the Other Side An Independent Contractor Case Study has one product that operates in a market with low growth potential

Is the Grass Greener on the Other Side An Independent Contractor Case Study has only a marginal share in this market.

As growth in this market is stagnant, and market share is also marginal, Is the Grass Greener on the Other Side An Independent Contractor Case Study may consider divesting from this market segment.

It will be unwise to invest in this segment, as this product has turned into ‘dog’, which means the product is aged and waning.

Here, two options are available to Is the Grass Greener on the Other Side An Independent Contractor Case Study:

o First, Is the Grass Greener on the Other Side An Independent Contractor Case Study may entirely refresh the dying product.

o Alternatively, Is the Grass Greener on the Other Side An Independent Contractor Case Study may divest this product from the portfolio.

Considering the current business environment, and competitive dynamics, Is the Grass Greener on the Other Side An Independent Contractor Case Study is recommended to get rid of this product by taking divestment decisions (Torquati et al. 2018).

3.5. Ansoff matrix of Is the Grass Greener on the Other Side An Independent Contractor Case Study

Is the Grass Greener on the Other Side An Independent Contractor Case Study aims to expand its business operations to strengthen the competitive positioning in the market. Ansoff matrix here can help Is the Grass Greener on the Other Side An Independent Contractor Case Study in taking the right business expansion decision.

Four business expansion strategies available to Is the Grass Greener on the Other Side An Independent Contractor Case Study are- market penetration, market expansion, product development, and diversification (Loredana, 2016).

Choosing the right expansion strategy is important for Is the Grass Greener on the Other Side An Independent Contractor Case Study to achieve its expansion objectives.

3.5.1. Market penetration

Is the Grass Greener on the Other Side An Independent Contractor Case Study can penetrate into existing markets by expanding the market reach. This strategy is recommended when the market has high growth potential.

Is the Grass Greener on the Other Side An Independent Contractor Case Study can expand the market reach by increasing the customer loyalty, and encouraging them to increase the spending.

Is the Grass Greener on the Other Side An Independent Contractor Case Study can use the influencer marketing strategy as a tool to create e-WOM. It will create brand awareness, spread the brand message, and enable Is the Grass Greener on the Other Side An Independent Contractor Case Study to penetrate deeper into the market.

Some other ways through which Is the Grass Greener on the Other Side An Independent Contractor Case Study can penetrate into the market is- to increase the marketing and promotional budget, making price adjustments, and improving the product quality to gain a larger share from the existing market (Shaw, 2012).

3.5.2. Market development

Is the Grass Greener on the Other Side An Independent Contractor Case Study can find new geographic markets to launch its existing products

Another way to pursue this expansion strategy is through celebrity endorsements. Celebrities can help Is the Grass Greener on the Other Side An Independent Contractor Case Study in finding new customers for existing products

Is the Grass Greener on the Other Side An Independent Contractor Case Study can also consider adding new product dimensions, or revising the packaging to reach new consumer markets.

Another way to pursue this expansion strategy is by exploring new distribution channels. Is the Grass Greener on the Other Side An Independent Contractor Case Study can strengthen its presence on e-commerce, and open multiple online sales channels to reach new customer markets (Hussain et al. 2013).

Is the Grass Greener on the Other Side An Independent Contractor Case Study can also charge two different prices to expand the reach from high-end to middle-class customers.

3.5.3. Product development

Is the Grass Greener on the Other Side An Independent Contractor Case Study can expand its business operations by pursuing a product development strategy.

Instead of adopting a reactive attitude by coping with the competitors, Is the Grass Greener on the Other Side An Independent Contractor Case Study must proactively behave while launching new products. Some possible proactive product development strategies are discussed below.

To pursue a proactive product development strategy, Is the Grass Greener on the Other Side An Independent Contractor Case Study may increase investment on research and development activities to bring the product innovation.

Is the Grass Greener on the Other Side An Independent Contractor Case Study may also invest on the market research to identify and respond to the unmet customer needs (Katsikeas et al. 2016).

Is the Grass Greener on the Other Side An Independent Contractor Case Study may consider strategic alliance and partnership options to launch new products. It will enable the company to pool the resources and capabilities together, and share risks while launching new products.

Acquisition of smaller firms can also enable Is the Grass Greener on the Other Side An Independent Contractor Case Study to successfully launch new products in the comparatively shorter time span.

3.5.4. Diversification

Is the Grass Greener on the Other Side An Independent Contractor Case Study can adopt the diversification strategy to reach new markets through new products.

Is the Grass Greener on the Other Side An Independent Contractor Case Study can pursue either a related or unrelated diversification strategy.

The related diversification strategy requires Is the Grass Greener on the Other Side An Independent Contractor Case Study to enter in similar markets. But, unrelated diversification requires Is the Grass Greener on the Other Side An Independent Contractor Case Study to find entirely new markets (Dhir and Dhir, 2015).

Unrelated diversification is riskier, and can affect the brand image. So, Is the Grass Greener on the Other Side An Independent Contractor Case Study should pursue a related diversification strategy.

By pursuing related diversification, Is the Grass Greener on the Other Side An Independent Contractor Case Study can horizontally and vertically add new product lines

Through successful diversification, Is the Grass Greener on the Other Side An Independent Contractor Case Study can increase its profitability, and generate more revenue from the new products and new market segments (Loredana, 2016).

4. Conclusion

The in-depth strategic analysis of Is the Grass Greener on the Other Side An Independent Contractor Case Study reveals some interesting insights. Is the Grass Greener on the Other Side An Independent Contractor Case Study currently holds strong competitive positioning. However, the challenging business environment and intensifying competition require Is the Grass Greener on the Other Side An Independent Contractor Case Study to adopt a proactive behavior. Is the Grass Greener on the Other Side An Independent Contractor Case Study needs to continuously assess its external and internal business environment to timely identify the potential threats and opportunities. Here, the application of relevant strategic management tools and frameworks can help Is the Grass Greener on the Other Side An Independent Contractor Case Study in making wise business decisions. The key to success in a such challenging and complex business environment is- to proactively respond to the external environment by leveraging core strengths, and overcoming the weaknesses.