Challenges Faced By The Nomura Securities

Challenges Faced By The Nomura Securities Nomura Securities was founded in 1925 by Tokushichi Nomura II and it was the first Japanese securities company to establish an office outside Japan in 1927. Nomura Securities Co. Ltd is a subsidiary of Nomura Holdings. Inc, a Japanese financial holding company. Nomura Securities is the leading Brokerage house and Investment bank in Japan and performs equity and fixed-income trading, underwriting of stock and bond issues, MA advisory services. Until October 2008, most of Nomuras operations were mainly restricted within Japan and having made a number of unsuccessful attempts to expand into other key markets, the acquisition of Lehman proved to be a watershed deal. In order to expand its operations globally Nomura took over the Asian, European and Middle Eastern (EMEA) operations of Lehman brothers, an American investment bank after it filed for Chapter 11 bankruptcy. Barclays took over Lehman brothers North American Operations. The acquisition of Lehman Brothers is expected to help Nom ura reach its goal of becoming one of the top five independent successful global investment banks. Before the acquisition of the Lehman businesses Nomura had an 18,000 strong workforce although a large part were based out of Japan, and greater than 90 % of its revenue from its local operations. After the acquisition, it retained over 8,000 former Lehman staff which meant Nomura had a difficult task in hand to integrate two very different corporate cultures. The union was termed as marriage of Tokyo and Wall street.'(FT.com, 2008) This was the first time when such a union had been attempted in the investment banking arena. The firm is still in its cultural transitional phase and its trying its best to overcome its teething problems. 1.2 Operations Nomuras operations are divided into three regions:- Asia-Pacific including Japan and India- Regional headquarter is in Hong Kong. Its operations are spread across 12 countries in the region. Americas- Regional headquarter is in New York. It operates from 6 strategically located offices in North and South America. Europe, Middle East and Africa (EMEA) Regional headquarter is in London. The operations are spread across 18 countries in the region. The banks global headquarters is in Tokyo, Japan. All of Nomuras business lines are coordinated globally and the regional heads report to their Tokyo-based business heads. Source: http://www.nomuraholdings.com/investor/summary/financial/data/2009_2q_leh.pdf http://www.nomuraholdings.com/investor/library/ar/2009/pdf/ar_all.pdf 1. 2 Vision Its long term vision is to become the top independent global investment bank. Source: http://www.nomura.com/europe/about_nomura/index.shtml Expansion of operations could render a firms organisational structure to become more complex as decision making takes more time. In order to make the decision making process faster and effective Nomura decided to reaffirm its matrix management style of organisation. Nomuras approach to decision making is quite centralised. Centralization means that the responsibility of making decisions is limited to those at the top of the organisations hierarchy. (Gordon, Pg 403)Decision making at Nomura is top down which consists of the Chief Executive Officer (CEO) on the top followed by the Chief Operating Officer (COO) and then five CEOs for each of its business division. The CEOs of business divisions are responsible for all the decision making of their division taking into consideration the management values adopted by the Nomura group as a whole. All these heads are based in Japan. To oversee the companys European operations theres also a European Regional Head. 2.1 Matrix Structure Matrix structure is an integration of a Functional and a Market Oriented structure. Functional structure groups people according to their skill set. It allows division of labour as specialisation which makes the organisation more effective. On the other hand in a Market Oriented structure employees are grouped according to product, project, client or geographical area. A Matrix structure team has two heads i.e. one being the functional head and other a regional head. Matrix structure helps in flexibility of employees as per the changing needs of the organisation. It also aids in prompt decision making and brings about diversity in skills and ideas. At Nomura, employees are grouped according to their expertise in various functional lines as well as relative experience in client servicing. The Lehman acquisition although brought in strong operational diversity and better branding the resultant organisational structure was mammoth and complex an HR nightmare possibly. Nomuras post-Lehman operational structure looks more diversified both from a product offering as well as a geographical stand-point; Nomura has three reportable geographic segments with a stronger talent pool and a broader franchise i.e. Asia-Pacific, Americas and Europe, Middle East and Africa (EMEA). It has appointed CEOs every business division stationed in Tokyo with every region having a regional head as well as a regional divisional head. 3. Organisation Culture Organisation Culture is defined as a set of shared values and beliefs that interact with an organizations people, structure, and systems to produce behavioural norms. (Harvey Brown, Pg 69) Every organisation has a unique culture. Nomura traditionally has been a conservative investor and largely risk-averse which seemed poles apart from the usual wall-street philosophy. The distinctions between Nomuras Japanese and American Corporate cultures are cited below: Employment Tenure- Employees in Japan are more likely married to their firms with most firms expecting to retain talent through long-term employment schemes. American firms, on the other hand have their eyes firmly set on profitability and return. Promotions- In Japan promotions are based on age and seniority whereas in America promotions are based more on performance. Payroll- Japanese Companies usually pay their employees a fixed salary with low or very little bonus whereas American firms have fixed salaries and employee bonuses are decided according to their performance. Decision Making- In Japanese companies decision making is top down whereas in American style companies managers have more delegation and authority. Therefore decision making in American firms is prompt. Attitude towards risk- Japanese are risk averse whereas Americans are more aggressive. Work Culture- Japanese work culture is very stiff in terms of dress code and punctuality to work whereas American culture is more flexible. Nomura hired 8,000 former Lehman employees. In order to keep the Lehman operations running Nomura had an uphill task of retaining Lehmans employees which meant it needed to change its organisation culture. Source: http://globalization.suite101.com/article.cfm/japanese_corporate_culture 4. SWOT Analysis Strengths- Lehman had a strong position in Europe and it had well developed IT and RD platforms. It possessed high velocity trade machines. Lehman was very active and was one of the best in the markets aided by a very skilled work force which gave Lehman a competitive edge. 95% of Lehmans employees accepted job offers given by Nomura. It is imperative for Nomura to effectively utilize the skill set and knowledge base in order to enhance its business prospects and also achieve economies of scale by resource integration. Weakness- Nomura needed to protect its human capital resulting in high employee costs right at the outset very much in line with Lehman tradition of keeping up higher pay outs. Nomura also needed to build its client franchise from scratch given its lack of presence in the EMEA region and also battle a growing reluctance from clients to trade with a relatively fresh and un-proven broker-dealer. It also initially suffered the baggage of the Lehman bankruptcy, which made it extremely difficult to convince clients and regulators as well as to its viability as a solvent counterparty. Opportunities- One could say that the recent credit crisis provided Nomura with a unique prospect of re-inventing itself. Additionally Nomuras traditional Asian advantage enabled it to push its franchise far more aggressively having added talent from Lehman. Nomura currently has a sound platform to launch a strong client-focussed business. Joint operations will create synergies and generate higher revenues as Nomura can be cost effective in running combined operations. It has a diverse set of services as well as workforce which can help them specialise in niche markets as well as create innovative products in investment banking. Threats- Market conditions are currently volatile across Europe while recovery in the Americas has been painfully gradual. Nomura continues to sustain high operational costs. Although Nomura is desperately trying to mould itself into a global player the inherent cultural clash remains, which could de-motivating for the employees. Source: http://n.ethz.ch/student/rebibr/projects/Lehman-Nomura.pdf 5. Organisational Change Organisations have to change in order to stay competitive. Changes in an organisations environment in terms of competition, new clients and diversity in workforce force an organisation to make changes to its culture. However these changes are significant to Nomuras goal to become a world-class investment bank. Organisational change represents any alteration to existing cultural fabric of an organisation. It happens when a company is growing and going through evolution in terms strategy. Nomura is adopting a behavioural approach to change i.e. its a planned change and it improves communication, group behaviour, leadership skills, and power relations by changing employees knowledge, skills, interactions and attitudes as well as the organisational culture.'(Gordon, Pg.460) The Organisational change was done in four Phases:- Create Synergies Promote efficiency Start Joint Operations Ex- Lehman staff Join Nomura PHASE 1 PHASE 2 PHASE 3 PHASE 4 Phase 1-Retain Lehman employees in order to smoothly run the acquired business. Phase 2- Integrate infrastructure as Nomura took over Lehmans Information Technology (IT) platform and Global Services in India. Phase 3- Making sure that the combined infrastructure and Operations are running efficiently. Phase 4- Joint operations will create synergies and generate high revenues. Source: http://www.nomuraholdings.com/investor/summary/financial/data/2009_2q_leh.pdf 5.1Changes in Nomura Compensation Structure- Nomura is seeking to follow Lehmans compensation structure of paying high performance bonus of its employees in line with global investment banking standards. Although Nomuras old employees were given a choice to choose Lehmans compensation structure of low basic pay and high performance bonuses. Over half of their old staff chose the Western compensation system which is very different from the traditional Japanese pay structure. Job Security- Earlier Nomuras employees had a better job security although compensation levels were average and very different from the Wall Street philosophy. With the current structure the employees would be offered performance-based bonuses and higher total compensation although the job security would be relatively absent. Complex Matrix- It has adopted a complex Matrix type of organisation structure to achieve flexibility and prompt decision making. Decision Making- Regional and Divisional managers are given more delegation. Traditionally decisions were taken in groups. Managerial Changes- Traditionally most of the senior managerial positions were handled by Japanese but recently three non Japanese Managing Directors have been appointed who are ex Lehman staff. Changes in Job Scope- In the past positions were decided according to age and seniority and now more emphasis is based on the skill set of the employees and their performance. The takeover of Lehman by Nomura looks like a reverse takeover as Nomura is trying to follow Lehmans Organisation cultures rather than super-imposing its own culture. This is because it realises the value of the ex Lehman staff as they can give them a competitive edge over other investment banks. Therefore its making sure that the ex Lehman staff is satisfied working at Nomura so that they can perform well and stay in the job. Another reason for adopting these changes could be that in the past Nomura had made some failed attempts to expand its business operations outside Japan. 5.2 The Change Process The change process of Nomura could be explained with the help of Kurt Lewin Model. The model describes the change process in three stages which are as follows:- 1. Unfreezing- Creating awareness of a need for change and create the right environment for change. Giving old Nomuras employees an option to change their compensation structure is a method of unfreezing as its older employees realise that their counterparts from Lehman will be earning higher. This could have put pressure on Nomuras employees to perform according to Lehmans expectations and thus forcing them to change to the new culture. 2. Change- Making the change. In Nomura this was done through changing its management structure, educating employees and motivating them to work together as a team. The Chief Operating Officer (COO) of Nomura, Mr. Takumi Shibata acknowledged that there were cultural differences in integrating the two companies but they were focused to work as one team, one firm. 3. Refreezing- A firm has to cement the change and make it its organisation culture. In Nomuras case, they are still undergoing change as the takeover took place only a year and half back. However the progress so far achieved has been no less spectacular given the hard line differences and size of operation. Source: http://www.mansis.com/freeze.htm Nomura Annual Report 2009 6. Organisational Development Techniques Organization development is a system-wide application of behavioural science knowledge to the planned development and reinforcement of organizational strategies, structures, and processes for improving an organizations effectiveness.(Cummings and Worley, Pg 2) Nomura believes in upgrading the skills of its employees through its employee development programmes. This is done so that an employees potential could be maximised at work. Employees are given authority to demonstrate their skills, abilities and they are evaluated on the basis of their performance. In order to enrich the careers of its employees Nomura initiated comprehensive education and training programmes. In 2006, it launched a Happy career and life project which aimed to help its employees maximise their potential. Nomura initiated training in global business etiquette in seven of its offices worldwide including Japan so that the employees could understand the differences in culture and background. This was done to increase responsiveness among its employees so that they understand the importance of building relationship with customers and fellow employees. In 2008, Nomura established Diversity and Inclusion offices in Europe and Asia Pacific. Diversity and inclusion is about respecting human rights and offering equal opportunities within organizations regardless of gender, age, race, faith, or values and harnessing peoples talent.'(Nomura Holdings Website) This programme was introduced to unleash employee potential and capitalize on value. Under this Nomuras Human Resource department will analyse the HR processes such as promotion, recruitment and performance management so that their diverse workforce is well managed. In order to prevent discrimination based on age, race and gender Nomura orga nised 29 training sessions and over 14,000 employees attended the training. Nomura has also created support systems for its female employees in terms of proving more childcare leave and offering assistance with the day care expenses of infants. Source: http://www.nomuraholdings.com/csr/stakeholder/employee/diversity.html http://www.peoplemanagement.co.uk/pm/articles/2010/04/investment-bank-nomura-launches- multi-strand-equality-strategy.htm 7. Conclusion Nomuras long term aim is to become a World class investment bank. After the acquisition, Nomura has achieved market gains in Asia (excluding Japan) and Europe. They are aggressively building business in the US market. Nomuras revenue from markets outside Japan has increased significantly after the acquisition of Lehman Brothers operations in Europe and Asia. Net revenue from its Asia and Europe divisions surpassed Japan in two of the four quarters for the first time. Clearly the integration has benefited Nomura as its revenue from its overseas operations has increased significantly. The Acquisition has generated immense synergies and its helping Nomura to achieve its goal of becoming a World Class Investment Bank. The two firms complement each other in terms of products, geographical locations and customers. Till now the acquisition has proved to be a good one but in the long run Nomura will have to address to a lot of challenges in terms of culture while maintaining balance between American and Japanese culture to keep its new as well as its old employees satisfied. It was easy for Nomura to retain ex Lehman employees as when the takeover took place as the market conditions were bad but once the market conditions stabilise employees might look for greener pastures. Therefore, Nomura has to a task of retaining its employees in the long run as employees are its biggest assets. Source:http://www.financeasia.com/News/174347,nomuras-emergence-as-a-global-investment-bank.aspx?refresh=on 8. Recommendations Most of the success stories on Wall Street have been of firms following a singular cultural philosophy across their businesses. Although the sweeping changes at Nomura have been largely well received by its employees, the company is a long way from realising its potential in the market-place. It needs to inculcate the performance-based compensation spirit amongst its Japanese employees while at the same time relying on Japanese practical wisdom of conservatism. Also behavioural changes in terms of better group dynamics, equal-opportunities irrespective of race, sex and age should be inculcated given the largely male dominated Japanese society. Nomura should take the culture change slowly as it has to keep its employees in Japan in high spirits. They might feel less motivated and think that new employees are more important to the company. Rather than the top management deciding how to change the organisation culture the decision should be taken collectively involving all its employees. Nomura should not get too carried away by the increase in revenues in overseas markets. It has to make sure that the upward trend in revenue generation continues without any holdups. Nomura should not get too Americanized in terms of risk adverse attitude. American banking approach allows managers to take risks which can be very disastrous. It should follow a mixture of Japanese risk averse and American risk adverse attitude in other to run the operations successfully without any turbulence in these volatile economic conditions. Lastly, there should be team building activities in which new and old employees should play an active part. Both old and new employees should work together as a team in order to make Nomura a successful global investment bank.

Articles for Teachers Day Essay

October 04, 2012, the HSL-Braille College community worked together for the biggest and widest celebration of â€Å"My Teacher, My Hero† for World’s Teachers Day 2012. As early as 6:30 in the morning, HSL-Braille College community led by its Student Government Organization (S.G.O), administrators, faculty, parents and students gathered together in the school ground to welcome our lovely teachers with their glamorous attire as they take their grand entrance in the red carpet together with their respective escorts which also the students’ teacher for that particular day. All our mentors received a souvenirs specifically a mug with a text written on it: â€Å"My Teacher, My Hero† World’s Teachers Day 2012. And a badge which also have a text written on it: â€Å"I Love Teaching†. This souvenir is not just only a give-away but instead, it serves as a sign of appreciation for our dear teachers for being the second parents in the school hat guides a nd leads the students to do good in life in order to have a better future. The program started at 6:45 AM and was introduced by the pair of stage hosts from the Fourth Year- Uzziah, the President of Student Government Organization (S.G.O), Ms. Nicholle Yummar D. Demagante and Mr. Rainier John Veluz, from the Third Year – Sheba and the External Vice President of the Student Government Organization. Before it was officially started, the teachers and students were welcomed by the Student Chairman of the Activity and the Internal Vice President of Student Government Organization, Ms. Kjienah Love I. Demagante. She gave her opening remarks to everyone which expressed her gratitude to be part of World’s Teachers Day celebration to help the school to celebrate and give warm appreciation to our heroes, our teachers. The students showed their gratitude to their advisers which is in the form of showing their talents and flaring skills like dancing and singing which shows a meaningful message to their lovely mentors. This really helped to boost the crowd’s moods. But of course students from HSL-Braille College are not only good in showcasing talents to everyone but also students can produce imaginative and constructive works that brings excellence to the schools. So, in this case, some students made an English and Filipino poems that are dedicated to their teachers which were shown and opened by their teachers which is actually felt the love and appreciation from their students. During that time, everybody especially our dear teachers were glad with the result of the event. It was successful and meaningful to everyone. After all, students,  teachers, and other guests are ready to hear our school directress words of wisdom before the end of the program. As expected, they will be served by generous students who voluntarily give their time to give service to our dear teachers. They will enjoy, have fun and relax the rest of the day. Every students can really see satisfaction after the program. It was undeniably a great celebration for World’s Teachers Day and was well-prepared despite of the bad weather. Truly, the reason for the event was to celebrate and to show our love as a matter of celebrating of the World’s Teachers Day to the true heroes of our community, our teachers. Everybody is looking forward for the next World’s Teachers Day Celebration for it will surely be another great event.

Taking a Look at Colon Cancer - 1919 Words

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Richard Carver’s “Cathedral” focuses on the dealing and...

Richard Carver’s â€Å"Cathedral† focuses on the dealing and overcoming of predispositions. On a more critical accord, â€Å"Cathedral† exemplifies the testing journey of marriage. Carver reveals the reality of close outside friendships impends on marriage through unsettling insecurities, conflicting emotions, and ultimately leading to betrayal. Within the text we notice the invading friendship between the unrevealed narrator’s (the husband) wife and the blind character Robert. Their relationship initiates the insecurities for the narrator, as it transpired though the course of ten years and many deep revealing conversations. Robert and his wife shared with each other countless important and confidential moments of their lives, but the narrator†¦show more content†¦As we call can testify, an individual reacts significantly drastic when invaded on their personal â€Å"bubble,† if you will. So for the narrator, his home is his bubble that Robert has imposed on. 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Silence of the Lambs and Mr. Brooks Essay - 718 Words

Unit 2: Week 2 - Reader Response - Assignment 1 Juan Luna Park University Serial Killers as Heroes in Popular Culture LE 300J Ms. Silvia Kofler November 2, 2012 Unit 2: Week 2 - Reader Response - Assignment 1 A serial killer could be dining, sitting, or even living next to you at this very moment. Most killers offer little to no obvious clues that will lead anyone to detect their often secretive, undercover actions. I ask myself, â€Å"How can we be so naive to these types of people?† Serial killers amongst us are often well educated, portray an All-American image, yet have a psychotic side to them. First, most serial killers are often well educated. Hannibal Lecter in the movie â€Å"Silence of the Lambs† is a psychologist. Who†¦show more content†¦In â€Å"Natural Born Celebrities: Serial Killers in American Culture,† serial killers are defined as clean cut, normal, All-American people. Some interviewees shared in chapter five state that the reason why it takes so long for the culprits to be apprehended is attributed to the ability to carry on with a normal life. One even offered that in one instance, his vict im actually thought he was joking when he kidnapped her to eventually murder her. In â€Å"Mr. Brooks,† Earl again is a very successful person. He is an ordinary, suit wearing, clean shaven, clean cut, successful Portland, Oregon businessman. I imagine that his killing addiction would shock even his closest, everyday coworkers. Hannibal Lecter is a former psychiatrist. I can’t even begin to imagine the amount of schooling that he endured and numerous certifications, both federal and state, that he must have attained. Yet, he did not like arrogant and obnoxious people, therefore, he murdered them. Despite being well educated and portraying an All-American image, serial killers have a psychotic side to them. Hannibal Lecter showed this side of him when he killed two prison guards. Not only did he murder them but he ate some of their body parts and even carved out the face of one of them to use as a way of disguising himself when he escaped from prison. Earl Brooks murder ed in such a cold hearted way. Evidence of this isShow MoreRelatedLE300J Final Essay1628 Words   |  7 Pagesor evil geniuses, and serial killers want to get caught. As easy as it might be to believe these stereotypes, and although some serial killers meet a few of the descriptions, they are not necessarily true. Through studying Dexter, Perfume, Silence of the Lambs, Frankenstein, Dead Until Dark, and the Walking Dead it can be determined that serial killers are all driven by their own unique motives, they have committed more than three murders, not limited to any specific demographic group, and are committedRead MoreThe Ballad of the Sad Cafe46714 Words   |  187 Pagesblossoming peach trees along the side of the road. In the air the odor of blossoms and sweet spring grass mingled with the warm, sour smell of the near-by lagoon. No. It s somebody s youngun, said Stumpy MacPhail. Miss Amelia watched the road in silence. She had put down her rope and was fingering the straps of her overalls with her brown bony hand. She scowled, and a dark lock of hair fell down on her forehead. While they were waiting there, a dog from one of the houses down the road began a wildRead MoreSummary of She Dwelt Among the Untrodden Ways11655 Words   |  47 Pagesbiographical information can be drawn from the poems—it is difficult even to determine Lucys age.[20] In the mid-19th century, Thomas DeQuincey (1785–1859), author and one-time friend of Wordsworth, wrote that the poet always preserved a mysterious silence on the subject of that Lucy, repeatedly alluded to or apostrophised in his poems, and I have heard, from gossiping people about Hawkshead, some snatches of tragic story, which, after all, might be an idle semi-fable, improved out of slight materials

Strategic Management Assignment Free Essays

string(44) " as the geographic scope of its operations\." HANOI UNIVERSITY FACULTY OF MANAGEMENT AND TOURISM —————-o0o—————- INTERNAL ENVIRONMENT ANALYSIS Research in Motion Ltd. Tutor: Mr. Nguy? n Anh Quan Students: Ph? m Thanh H? ng M? u Minh Tuy? n Vu Ng? c Anh Class: Tutorial 3 Course: Strategic Management Date: 16/09/2009 Word count: 3, 261 words I. We will write a custom essay sample on Strategic Management Assignment or any similar topic only for you Order Now INTRODUCTION Besides external environment analysis, in order to craft a plausible strategy, the company has to understand itself as well, or in other words, to carefully evaluate its resources and competitive position. In this report, we look into the case of Research in Motion Ltd. RIM) to illustrate this point. Firstly, we will provide readers with background knowledge of the company, following by assessment of the company’s current strategy. Then, the SWOT analysis is executed, and the weighted competitive strength assessments is considered. Lastly, from the analysis, we provide the list of issues and problems that merit front-burner managerial attention. II. BODY 1. Company’s background: RIM was founded in 1984 by Mike Lazardis. Based in Waterloo, Ontario, the company also has offices in North America, Europe and Asia Pacific. RIM provides platforms and solutions for access to time-sensitive information, including email, phone, Instant Messaging (IM), short message service (SMS) messaging, Global Positioning System (GPS), Internet and intranet-based applications. RIM is known primarily as the maker and provider of Blackberry wireless devices and e-mail services. It can provide users with a wireless extension of their work and personal email accounts, including Microsoft Outlook, IBM Lotus Notes, Novell GroupWise and many Internet service provider (ISP) email services. RIM has recently reached 14 million subscribers worldwide and had just over $6 billion in revenue. In early 2008, RIM was one of Canada’s largest companies with a market capitalization of $69. 4 billion. RIM had more than 100,000 enterprise customers and an estimated 42% market share of converged devices. Revenues were contributed mainly by handheld sales (73%), followed by service (18%), software (6%) and other revenues (3%). In 2007, 57. 9% of RIM’s revenues were derived from the US, 7. 3% from Canada and the remaining 34. % from other countries. RIM had over 270 carrier partnerships in more than 110 countries. In terms of product innovation, RIM has a wide range of product design and innovation awards, including recognition from Computerworld as one of the Top 10 Products of the Past 40 Years. 2. Assessment of company’s current strategy 2. 1 Company’s strategic approach: RIM’s strategy focuses mainly on differentiating its products from those of competitors in order to serve a niche market for business class. In terms of differentiation, the BlackBerry wireless platform and line of handhelds include e-mail, phone, IM, SMS, internet, music, camera, video, radio, organizer, GPS and a variety of other applications. BlackBerry’s small size, long battery life, and ease of use, made the product extremely popular with busy executives who valued the safe and secure delivery of corporate mail. In fact, organizations that relied on sensitive information, such as the U. S. government and large financial institutions, were early and loyal adopters of BlackBerry and RIM’s largest customers. RIM’s enterprise e-mail servers, which were attached to the customer’s e-mail and IM servers behind company firewalls, encrypted and redirected e-mail and other data before forwarding the information to end consumers through wireless service providers (see Exhibit 3). RIM had more than 100,000 enterprise customers and an estimated 42 per cent market share of converged devices as mentioned above. 2. 2 Firm’s competitive scope: RIM has a quite narrow geographic market coverage, mainly in the region of North America, with the US market contributing 57. % of RIM’s revenues, 7. 3% from Canada and the rest 34. 8% from other countries. The company competes in several industries, including wireless devices, software and service. In terms of revenue distribution, as mentioned above, handheld sales is in the first rank 73%, followed by service 18%, software 6% and other revenues 3%. 2. 3 Recent move position and performance: In terms of competing against rivals, RIM ’s strengths firstly lie in the ability to improve its products both in design and technology. For example, RIM had recently introduced the award-winning Blackberry Pearl and Blackberry Curve, which were a significant design from previous models and for the first time targeted both normal consumer and business professionals. RIM had a variety of product designs and innovation awards, including one of the â€Å"Top 10 Products† from Computerworld in the Past 40 Years. Recently, RIM has stepped up in advertising its product, like images from celebrities like Madonna and Paris Hilton holding Blackberry in their hands. Especially, US President Obama were sighting using Blackberry device. Also, RIM is very brave to open their target market to younger consumers instead of their usual business consumers by launching Facebook, partnerships with software developers to bring popular games such as Guitar Hero II to the Blackberry mobile platform. Another illustration is that just six months after launching Facebook for BlackBerry, downloads of the popular social networking software application had topped one million, indicating that younger consumers were gravitating towards the popular handhelds. All these actions suggest a more aggressive move to the consumer, or at least prosumer, smartphone space. What’s more, RIM is expanding the number of product and technology development facilities in locations such as Fort Lauderdale. Geographic expansion is an essential strategy, but it has its trade-off. We will talk more about this in the SWOT analysis. One of the key factor for RIM to win over competitors is in the field of RD. RIM employed just over 2,100 people with different RD areas of expertise: radio frequency engineering, hardware and software design,audio and display improvement, antenna design, circuit board design, power management, industrial design, and manufacturing engineering, among others. RD efforts focused on improving the functionality, security and performance of the BlackBerry solution, as well as developing new devices for current and emerging network technologies and market segments. RD had increased significantly both in terms of the total number of employees as well as the geographic scope of its operations. You read "Strategic Management Assignment" in category "Management" Since 2000, the RD group had grown more than tenfold, from 200 to 2,100 people and expanded to two more locations in Canada. Additionally, by merging with competitors, RIM had over 270 carrier partnerships in more than 110 countries around the world. Through the Blackberry Connect licensing program other leading device manufacturers such as Motorola, Nokia, Samsung and Sony Ericsson could also equip their handsets with Blackberry functionality and other technologies. 2. 4. Evaluating the strategy: 2. 4. 1 From quantitative standpoint: †¢ In 2007 revenue increased by 98% from the previous year. †¢ Reached 14 million subscribers worldwide and had just over $6 billion in revenue (see Exhibits 1 and 2). †¢ Since 2000, the RD group had grown more than tenfold, from 200 to 2,100 people, made up about 35 per cent of RIM’s 6,254 employees. Total headcount had also been growing in double digits over the last five years (see Exhibit 7). †¢ Low employee turnover rate and received â€Å"Canada’s 10 most admired corporate culture†. 2. 4. 2 Key indicators of how well the strategy is working †¢ Firm’s sale, market share and customers: 14 million subscribers in 2008, nearly double than in 2007 with 8 million subscribers worldwide. †¢ $6 billion in revenue, doubling of that in 2007 (see Exhibits 1 and 2) †¢ 1/6 of the market share (Exhibits 8). RIM revenue compared with others: For 4 years RIM revenue increased 10 times more from $595 million to $6,009 million, while the leader Nokia almost double ( $46,606 million to $80,672 million), Motorola from $23,155 million to $36,622 million. Apple from $6,207 million to 24,006 mil and Palm from $838 million to $1,561 million. Overall, RIM had the fastest growing rate (Exhibits 6). †¢ As one of the first to market with two-way messaging, over the years RIM has continuously improve its design and technology with award-winning models like Blackberry Pearl and Blackberry Curve. Also, good money is being spent on investment in RD to keep up with the change of the mobile industry. This creates a good image and reputation of the company to customers. 3. SWOT Analysis: 3. 1 Strengths: †¢ Product innovation: (a competence) The rationale of R D Department at RIM is: â€Å"Communication Through Innovation†. ? Products that attract the attention of both consumers and business professionals. Originally built for busy professionals, BlackBerry had made considerable headway in the consumer market and become something of a social phenomenon. CO-OP program with the University of Waterloo. CO-OP supplies business and industry with experience and contacts, as well as the opportunities to apply and refine what is learned in class. †¢ World leader in Business Mobile Communications market: ? One of the only trusted phones for the business-class mobile e-mail. As mentioned above, BlackBerry integrate e-mail, phone, IM, SMS, internet, GPS and a variety of oth er, in addition to small size, long battery life, and ease of use; making the product extremely popular with busy entrepreuners. Accumulated wide range of product design and innovation awards, recognition by Computerworld as Top 10 products of the past 40 Years. RIM had more than 100,000 enterprise customers and an estimated 42 per cent market share of converged devices, and significantly higher market share of data-only devices, in North America. †¢ Secure delivery: ? Source code is one of their few technical assets which is highly protected and is a key role in the success of the company, delivering the safe and secure voice and data transmission on which the BlackBerry reputation was built. This can be considered as a distinctive competence of RIM. †¢ Strong working culture: RIM’s core competence. ? Company culture has contributed towards a lower turnover rate compared to larger companies, and more happy employees. They have flexibility, adaptability and the ability to work collaboratively. There are not a lot of process or the kind of bureaucracy. 3. 2 Weaknesses: †¢ Shortage of physical space at RIM’s Waterloo campus. It is considered as a hazard of a growing company since it is not going to be conducive for expansion. †¢ Internal resistance to expand RD to locations outside of Waterloo. There are people here, even leaders and senior people, who said: â€Å"What? Products being built elsewhere? No! We can’t do that! Then we won’t have any control! † So, some of it is a cultural shift and a mind shift for the people that have been there and it is hard for them to let go and to be part of a really big company. 3. 3 Oppor tunities: †¢ Economic situation: ? Many smaller firms and technology start ups are struggling financially. ? In light of the dynamic market situation, RIM needs to ensure that its investment in RD keeps up with the pace of change in the mobile industry. Analysts predict an immense opportunity for smart phones starting in 2008-2009, which shipments reaching the billions by 2012. †¢ There are not many trusted alternatives for business-class mobile e-mail. RIM could be one of the world’s biggest handset manufacturers in the future. 3. 4 Threats: †¢ Global economic downturn recently caused a lot of difficulties for all companies, and RIM is not taken into the exception. †¢ Explosive growth and increased competition on the RD team to develop new solutions in the global smartphones market. In 2007, Symbian Operating System designed for mobile devices held an estimation of 65 percent worldwide share of the converged devices, shipping 77. 3 million smartphones. Th e second position was given to Microsoft’s Windows Mobile OS with 12 percent while RIM Blackberry OS at 11 percent. †¢ Apple announced that it would be pursuing the business segment, as Microsoft and Google were also both trying. Apple’s innovation in its mobile user interface and new technology (thermal touch screen) has created a new trend in mobile phone usage. This prompted a lot of design activities among competitors. Key competitors have already expanded globally while RIM is just on the way to be a global player. As can be seen from the SWOT above, RIM has a lot of strengths compared with its weaknesses. Its main problems that need solving currently are the expansion of the head quarter in Waterloo and the frightful competitiveness between competitors since there are day-by-day changes in technology that is considered as the matter of life and death for every player in mobile industry. When RIM becomes a global cell-phone producer, it has to face with the c ompetition from giants such as NOKIA, Motorola, Apple, Palm, etc. . Weighted competitive strength assessment To do the weighted competitive strength assessment of RIM, we take 2 main competitors namely Apple and Nokia. In order to have a precise view, we would like to consider the competitive assessment merely in the biggest industry of RIM – smart phones. The 8 key success factors that most affect industry’s members to prosper in the marketplace are identified. Among them, qualified human resource and quality of the products are considered the most important, thus get the weight of 0. 2. These are followed by the innovation to create new product, which is given 0. 15 weight. Reputation/image, financial resources, technological skills and product security are all rated as of medium importance, hence having 0. 1 weight. Last comes the customer service capability with the weight of 0. 05. [pic] From the assessments, it is seen that RIM ranks higher than its two competitors in terms of product quality and product security. However, the company is not as good as rivals in other aspects. Therefore, all things considered, the firm has a net competitive disadvantage versus major competitors, with the weighted overall strength rating of only 6. 9 compared to Apple’s 7. 4 rate and Nokia’s 8. 5. 5. Strategic issues and problems that merit front-burner managerial attention After careful consideration of both industry and competitive analysis, as well as the evaluations of the company’s own competitiveness, we have come to the â€Å"worry list† that is further discussed below. This list points out strategic issues that the managers of Rese arch in Motion need to address and resolve so that the company can be more financially and competitively successful in the years ahead. ? How to recruit and retain qualified engineers: As mentioned above, RD and engineering were the heart and soul of RIM. Therefore, the growth of the company is in close relationship with the development of its technological human resource. With the explosive growth of the firm, since 2000, the RD group had grown more than tenfold, from 200 to 2,100 people. However, the industry is experiencing a scarcity in the labor market, especially for high-skilled workers, leading to fierce competition to attract talented individuals. †¢ In the specific situation of RIM, because of its centralization in Waterloo, the company relies heavily on the labor supply of the region. However, this resource is strictly limited. On the other hand, the enterprise also faces threats from other companies, such as Microsoft or Google, as Waterloo is regarded as â€Å" an incredible pool of talent†. †¢ Attracting outside talent to Waterloo was difficult given the competitive nature of the global software development industry. The city of 115,000 people might not be perceived by some candicates to be as attractive as other high-tech centers which were more cosmopolitan, for instance Silicon Valley, or Taipei, Mitaka, Glasgow. †¢ In software, breakthrough innovations often came from small teams led by a visionary. In other words, although new graduates were essential, to be ahead of the game, a good proportion of the incoming employees for RIM was going to have to be senior hires. In the dynamic wireless communications market, exceptional software developers were scarce. †¢ From another perspective, similar to other players in the telecommunication industry, it is RIM’s policy to maintain its RD spending as a consistent percentage of total sales. RD expenses are seen as a proxy for new product or service development, therefore used as a key indicator of future revenue potential. Human capital represented the bulk of RD dollars and in fact, this rate is decreasing from 10. 59% in 2004 to 5. 99% in 2008. This is significantly low compared to rivals’ rate: Palm with 12. 24%, Motorola with 12. 09% and Nokia with 10. 20%. As a result, the need to increase the RD employees is crucial to the development of the corporation. ? How to solve the shortage of physical space at RIM’s Waterloo: This is another problem that needs attention from managers of RIM. The expansion of physical space is essential to satisfy the current demand of organization’s people as well as facilitate the growing human resource. Whether to remain centered in Waterloo or expand existing geographies: Maintaining the centralization in its headquarter brings about various benefits, such as the nurturing of the corporate culture, or the control of technology together with core activities. In fact, the cryptographic and software source code of Blackberry on which the brand reputa tion was built is considered uncompromised by the corporation. It is said by Chris Wormald, vice president of strategic alliences, that â€Å"Our source code is really among our few enduring technical assets. We have gone through extraordinary measures to protect it. We don’t give anyone any access under any circumstances. This vertical integration of technology makes geographic expansion and outsourcing of software development very difficult. † Therefore, intellectual property rights is strategically managed through a strategy that divided core platform development from product and technology development, with most of the core work still occuring in Waterloo. However, it is also concerned that without geographical expansion, the company can be left behind in its competition. How to maintain the unique culture while expanding the company: The culture at RIM headquarters was seen as one of its differentiators and was a key factor in RIM’s low employee turnover rate. The company has recently been recognized as one of â€Å" Canada’s 10 Most Admired Corporate Cultures†. This culture is described as flexible, adaptable and supportive, leading to the ability t o respond quickly to market opportunities of the firm. Compared to its competitors, RIM has a nice and dynamic environment, a place engineers like to work. Nevertheless, this unique culture is being challenged. The exponential growth of the company means the dramatic increase in human resource, and how to integrate the newcomers into RIM’s culture becomes an alarming question. Furthermore, when expansion of RD is brought into consideration, internal resistance is also heard. People complained about changing in the strategy. So here a cultural shift for the people is required. ? How to compete with rivals in markets other than the North America: In terms of operating system, RIM Blackberry is ranked the third worldwide, with 11% market share in 2007, and the first in North America. In the same year, 57. % of RIM’s revenues were derived from the United States, 7. 3% from Canada and the remaining 34. 8% from other countries. Currently RIM had offices in North America, Europe and Asia Pacific, however, it had only three wholly owned subsidiaries — two in Delaware and one in England. From this statistics, it can be seen that the main market of Blackberry is still North Ameri ca. To compete successfully, RIM has to enhance its appearance and market share in other major markets as well. Expanding the global reach of Blackberry solutions is therefore a fundamental part of RIM’s strategy. III. CONCLUSION From the internal environment analysis, we draw a conclusion that RIM is pursuing a reasonable strategy of focus differentiation. Its trend to move toward the consumer market is wise, promising to bring more market share and profits for the company. However, because of its small size and limited resources compared to big players in the industry, it is somehow having a net competitive disadvantage. To further itself in the future, the company should enhance its strengths, minimize the weaknesses together with catching opportunities as well as eliminating threats. The worry list above should be considered carefully so that the company can be compete more successfully in the coming years. REFERENCE 1. Company Histories. â€Å"Research in Motion Ltd. † [Online] Available at: http://www. fundinguniverse. com/company-histories/Research-in-Motion-Ltd-Company-History. html [Accessed 20 August 2009]. 2. Pkaasish, 2008. â€Å"Research in Motion Ltd. Always on, always connected†. [Online] Available at: http://www. oppapers. com/essays/Blackbberry/132559 [Accessed 22 August 2009]. 3. 2008. â€Å"RIM Reviews in Waterloo, ON (Canada)†. [Online] Available at: http://www. lassdoor. com/Reviews/RIM-Waterloo-Company-Reviews-EI_IE9091. 0,3_IL. 4,12_IC2280158_IP4. htm [Accessed 30 August 2009]. 4. PATRICIA BOW, 2008. â€Å"BUSINESS†¦ not as usual†. [Online] Available at: http://www. alumni. uwaterloo. ca/alumni/pubs/magazine/spring09/business/index. html [Accessed 30 August 2009]. 5. Arik Hesseldahl, 2006. â€Å"BlackBerry vs. Redberry in China†. [Online] Available at: http://www. businessweek. com/technology/content/apr2006/tc20060413_266291. htm? chan=search [Accessed 30 August 2009]. 6. Innovation, 2008. â€Å"BlackBerry: Innovation Behind the Icon†. Online] Available at: http://www. businessweek. com/innovate/content/apr2008/id2008044_416784_page_2. htm [Accessed 1 September 2009]. 7. Singapore and Reading (UK), 2008. â€Å"Smart mobile device shipments hit 118 million in 2007, up 53% on 2006†. [Online] Available at: http://www. canalys. com/pr/2008/r2008021. htm [Accessed 2 September 2009]. 8. Wikipedia, 2008. â€Å"Smartphone†. [Online] Available at: http://en. wikipedia. org/wiki/Smartphone [Accessed 3 September 2009]. 9. BlackBerry Nation Sample Chapter. â€Å"Chapter Two: The Birth of the BlackBerry†. [Online] Available at: http://blackberrynationbook. om/index. php/BlackBerry_Nation_Sample_Chapter#Financing_The_BlackBerry [Accessed 2 September 2009]. 10. Damian Francis, 2009. â€Å"Screw You Economic Downturn, We’re BlackBerry! †. [Online] Available at: http://www. popsci. com/gear-amp-gadgets/article/2009-02/screw-you-economic-downturn-we%E2%80%99re-blackberry [Accessed 6 September 2009]. Exhibit 1 Note: RIM Fiscal year ends in March (Fiscal 2008 is the year ending March 31, 2008) Source: RIM Fiscal 2007 Annual Report and Fiscal 2008 Press Release (April 2, 2008) Exhibit 2 [pic][pic] Exhibit 3 [pic] 1. BlackBerry ® Enterprise Server : Robust software that acts as the centralized link between wireless devices, wireless networks and enterprise applications. The server integrates with enterprise messaging and collaboration systems to provide mobile users with access to email, enterprise instant messaging and personal information management tools. All data between applications and BlackBerry ® smartphones flows centrally through the server. 2. BlackBerry ® Mobile Data System (BlackBerry MDS): An optimized framework for creating, deploying and managing applications for the BlackBerry Enterprise Solution. It provides essential components that enable applications beyond email to be deployed to mobile users, including developer tools, administrative services and BlackBerry ® Device Software. It also uses the same proven BlackBerry push delivery model and advanced security features used for BlackBerry email. 3. BlackBerry Smartphones: Integrated wireless voice and data devices that are optimized to work with the BlackBerry Enterprise Solution. They provide push-based access to email and data from enterprise applications and systems in addition to web, MMS, SMS and organizer applications. . BlackBerry ® Connectâ„ ¢ Devices: Devices available from leading manufacturers that feature BlackBerry push delivery technology and connect to the BlackBerry Enterprise Server. 5. BlackBerry ® Alliance Program: A large community of independent software vendors, system integrators and solution providers that offer applications, services and solutions for the BlackBerry Enterprise Solution. It i s designed to help organizations make the most of the BlackBerry Enterprise Solution when mobilizing their enterprises. 6. BlackBerry Solution Services: A group of services that include: BlackBerry ® Technical Support Services, BlackBerry ® Training, RIM ® Professional Services and the Corporate Development Program. These tools and programs are designed to help organizations deploy, manage and extend their wireless solution. Source: http://na. blackberry. com/eng/ataglance/solutions/architecture. jsp Exhibit 4 [pic][pic] Source: http://www. rim. com/newsroom/media/gallery/index. shtml and Fortune, â€Å"BlackBerry: Evolution of an icon,† Jon Fortt, Sept 21, 2007, accessed April 7, 2008: http://bigtech. blogs. fortune. cnn. om/blackberry-evolution-of-an-icon-photos-610/ Exhibit 5 MOBILE TELEPHONE USERS WORLDWIDE (IN MILLIONS) [pic] Source: Created from data accessed from the Global Market Information Database, April 4, 2008, http://www. portal. euromonitor. com. proxy1. lib. uwo. ca:2048/portal/server. pt? control=SetCommunityCommunityID=207PageID=720cached=falsespace=CommunityPage Exhibit 6 [pic] [pic] Note: Nokia 2007 includes Nokia Siemens. Source: Company Annual Reports. Exhibit 7 [pic] Source: RIM Annual Reports. Exhibit 8 Market share of mobile operating system 2008 [pic] Source: Wikipedia, the free encyclopedia How to cite Strategic Management Assignment, Essays

Therachem Case free essay sample

Therachem is a pharmaceutical company created in 1950, and has a portfolio of 7 different products Performance: The company has a signi? cant revenue growth of 68% over the last 3 years, driven mostly by Arthroquell Salesmen team: the sales rep’s job is to visit physicians and encourage them to prescribe Therachem drugs for their patients For the past 3 years Therachem has been growing its sales force by about 40 representatives per year and has expected this year to increase the number of reps from 433 to 473. Therachem is wondering if it has to maintain its 40-rep hiring per year rhythm or invest in human capital: A consultant report is suggesting Therachem to increase its sales force by 322 rep over the next 3 years, however is it opportune to do such a signi? cant increase or is it too unrealistic? Context Executive summary Smythe model Consultant model Alternatives Recommanda tions/Limits Goals Find the optimal solution for Therachem, taking into account strategic dimensions on the hiring rythm Methodology Optimize number of reps and the allocation of reps between products Resource Allocation analysis of the zero growth model, the Smythe model and the consultant model Creation of alternative models Assessement Smythe model is not optimal The consultant recommandation may be optimal it shows some risks in terms of hiring a lot of new rep There is an alternative with an optimal net contribution per new rep compared to the zero growth model Recommandations Do not increase more than 40 person hiring per year Do a more optimal allocation of human resource through the products Context Executive summary Smythe model Consultant model Alternatives Recommanda tions/Limits Zero growth model Arthroquell Proxinil 144,0 $109,5 53% $51,5 $27,2 $30,8 Renora 135 150 77,0 $175,2 59% $71,8 $14,6 $88,8 Dermet Topisal 57,0 $157,8 59% $64,7 $10,8 $82,3 Mistalon 57,0 $33,6 53% $15,8 $10,8 $7,0 $448,2 $81,8 $6,0 $380,3 $583,3 Total 433,0 $1  119,3 98,0 $643,2 62% $244,4 $18,5 Sales Representatives Planned Revenue Unit Margin Cost of Goods Sold Direct Selling Cost Indirect Selling Cost Net Contribution Strategic option number one: Smythe model Arthroquell Proxinil 184,0 $124,7 53% 58,6 $34,8 $31,3 125,0 $734,4 62% $279,1 $23,6 $431,7 Renora 135 150 98,0 $191,4 59% $78,5 $18,5 $94,4 Dermet Topisal 73,0 $167,2 59% $68,6 $13,8 $84,9 Mistalon 73,0 $40,1 53% $18,8 $13,8 $7,4 Total 553,0 $1 257,7 $503,5 $104,5 $6,0 $643,7 Sales Representatives Planned Revenue Unit Margin Cost of Goods Sold Direct Selling Cost Indirect Selling Cost Net Contribution An increase of 120 new reps (an increase of 40 per year) = a gain of net contribution of $60,4m The Smythe model focuses its sales force mainly on Arthroquell and Proxinil with respectively 23% and 34% of the sales force. We will write a custom essay sample on Therachem Case or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Context Executive summary Smythe model Consultant model Alternatives Recommanda tions/Limits Strategic option number two: Consultant’s model, the most pro? table Arthroquell Proxinil 167,1 $119,4 53% $56,1 $31,6 $31,7 Renora 135 150 120,7 $201,2 59% $82,5 $22,8 $95,9 Dermet Topisal 86,1 $172,3 59% $70,6 $16,3 $85,4 Mistalon 70,7 $39,3 53% $18,5 $13,4 $7,5 Total 755,5 $1  465,3 $582,3 $142,8 $6,0 $734,2 Sales Representatives Planned Revenue Unit Margin Cost of Goods Sold Direct Selling Cost Indirect Selling Cost Net Contribution 350 300 250 Effort 310,8 $933,2 62% $354,6 58,7 $519,8 An increase of 322 new reps (an increase of approx 100 per year) = a gain of net contribution of $151m Base vs. Recommended Scenario However the model doens’t take into consideration the time you need to train the new sales reps as well as the economic climate parameters. 200 150 100 50 0 Arthroquell Proxinil Renora 135 150 Base scenario Recommended scenario An increase as signi? cant as this one is risky (in terms of redundancy costs as well) which makes the management decisions dif? cult and slow. Segments Dermet Topisal Mistalon Context Executive summary Smythe model Consultant model Alternatives Recommanda tions/Limits How to combine the rythm of hiring from the Smythe model with the optimal allocation of sales force from the consultants’ model? Resource allocation with a limit of an increase of 120 new sales rep: Arthroquell Proxinil Renora 135 Dermet 150 Topisal 99 $192,0 59% $78,7 $18,7 $94,6 Mistalon 0 $5,0 53% $2,4 $0,0 $2,7 Total 553,0 $1  374,3 $542,5 $104,5 $6,0 $721,3 Sales Representatives Planned Revenue Unit Margin Cost of Goods Sold Direct Selling Cost Indirect Selling Cost Net Contribution 258 $912,0 62% $346,5 48,8 $516,7 130 $101,7 53% $47,8 $24,6 $29,3 66 $163,6 59% $67,1 $12,5 $84,1 An increase of 120 new reps (an increase of 40 per year) = a gain of net contribution of $138m However the new product Mistalon has an allocation of 0 sales rep, which is completely uncoherent with Terachem strategy to launch this new product! We need to ? nd a resource allocation that is optimal while taking into consideration a reasonnable increase in sales rep (40 per year) AND a minimum allocation for the launch of the new product Mistalon. Context Executive summary Smythe model Consultant model Alternatives Recommanda tions/Limits How to ? nd an optimal ressource allocation that also puts forward Mistalon? (1/2) Resource allocation with a constraint of 30 sales rep for Mistalon: Arthroquell Proxinil 120,7 $95,6 53% $44,9 $22,8 $27,9 Proxinil 130 $101,7 53% $47,8 $24,6 $29,3 Renora 135 150 93,0 $160,5 59% $77,2 $17,6 $93,6 Renora 135 150 99 $192,0 59% $78,7 $18,7 $94,6 Dermet Topisal 60,9 $160,5 59% $65,8 $11,5 $83,2 Dermet Topisal 66 $163,6 59% $67,1 $12,5 $84,1 Mistalon 30,0 $5,0 53% $8,4 $5,7 $3,8 Mistalon 0 $5,0 53% $2,4 $0,0 $2,7 Total 553,0 $1  368,9 $540,9 104,5 $6,0 $717,5 Total 553,0 $1  374,3 $542,5 $104,5 $6,0 $721,3 Sales Representatives Planned Revenue Unit Margin Cost of Goods Sold Direct Selling Cost Indirect Selling Cost Net Contribution 248,3 $906,6 62% $344,5 $46,9 $515,2 Arthroquell A decrease of $4m compared to the most optimal solution with 553 sales rep but the new product Mistalon is launched. Terachem can capitalize on the future of this product Sales Representatives Planned Revenue Unit Margin Cost of Goods Sold Direct Selling Cost Indirect Selling Cost Net Contribution 258 $912,0 62% $346,5 $48,8 $516,7 However let’s try and come closer to the initial idea of Smythe, who decided to allocate 73 sales representatives to Mistalon, a product which has a potential of future growth. Necessity to analyse the impact of allocating more than 30 sales representatives to Mistalon. Context Executive summary Smythe model Consultant model Alternatives Recommanda tions/Limits How to ? nd an optimal ressource allocation that also puts forward Mistalon? (2/2) Resource allocation with a constraint of 57 sales rep for Mistalon (today’s ? gure): Arthroquell Proxinil 184,0 $124,7 53% $58,6 $34,8 $31,3 Proxinil 112,2 $89,3 53% $42,0 $21,2 $26,1 Renora 135 150 98,0 $191,4 59% $78,5 $18,5 $94,4 Renora 135 150 88,4 $185,2 59% $75,9 $16,7 $92,5 Dermet Topisal 73,0 $167,2 59% $68,6 $13,8 $84,9 Dermet Topisal 56,7 $157,6 59% $64,6 $10,7 $82,3 Mistalon 73,0 $40,1 53% $18,8 $13,8 $7,4 Mistalon 57 $33,6 53% $15,8 $10,8 $7,0 Total 553,0 $1 257,7 $503,5 $104,5 $6,0 $643,7 Total 553,0 $1  366,3 $540,6 $104,5 $6,0 $715,3 Sales Representatives Planned Revenue Unit Margin Cost of Goods Sold Direct Selling Cost Indirect Selling Cost Net Contribution 125,0 $734,4 62% $279,1 $23,6 $431,7 Arthroquell Smythe’s initial plan Sales Representatives Planned Revenue Unit Margin Cost of Goods Sold Direct Selling Cost Indirect Selling Cost Net Contribution 238,6 $900,6 62% $342,2 $45,1 $513,3 Optimization with 553 sales reps while maintaining today’s sales reps allocated to Mistalon This solution allows to respect Smythe’s initial decision but at the same time maximise the pro? t: $715,3m (last alternative) $643,7m (Smythe) = $71,6m Context Executive summary Smythe model Consultant model Alternatives Recommanda tions/Limits The last alternative: Total Net Margins â‚ ¬Ã‚  800,00 â‚ ¬Ã‚  700,00 â‚ ¬Ã‚  600,00   500,00 â‚ ¬Ã‚  400,00 â‚ ¬Ã‚  300,00 â‚ ¬Ã‚  200,00 â‚ ¬Ã‚  100,00 â‚ ¬Ã‚  0,00 0 138,252165 276,50433 414,756495 553,0086601 691,2608251 829,5129901 â‚ ¬Ã‚  276,99 â‚ ¬Ã‚  540,15 â‚ ¬Ã‚  648,15 â‚ ¬Ã‚  686,68 â‚ ¬Ã‚  717,55 â‚ ¬Ã‚  732,80 â‚ ¬Ã‚  732,64 The maximum net margin seems to stabilize around $730m. The last solution allows Terachem to reach $715m total net margin. If we compare it to the consultant’s model the difference in net margin is -2,33%, however there is -62% new reps hired!