MGT604 Assessment 2.a

STAKEHOLDER
MEETING
SIMULATION
FROM SENIOR FINANCE
MANAGER’S PERSPECTIVE
Word count: 646
Tutorial: Anna TSAPARAS
Campus
Semester 2, 2019
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ASSESSMENT 2.A MGT604 1
EXECUTIVE SUMMARY
This report dedicated to identify alternative strategy development for Pro-Go (here after
company) by assessing external environmental contexts and critically analyses alternative
strategic plans and referred the most beneficial outcome from Senior Finance Manager’s
perspective. Those alternative outcomes are discussed the latest stakeholders meeting which
were involved below members.
Members of Stakeholders meeting team:
 General Manager of company
 General manager of Supplier
 Union Official
 Operations Manager
 Senior Finance Manager
Table of Contents
INTRODUCTION………………………………………………………………………...3
AIM .....................................................................................................................................4
DISCUSSION......................................................................................................................4
CONCERNS AND RISKS ASSOCIATED IN THEM.......................................................6
RECOMMENDATIONS.....................................................................................................7
REFERENCES:...................................................................................................................8
INTRODUCTION
Pro-Go company has been known as their light and handy action cameras, however the
company’s management team concerns general use of action camera now able to replace by
smart phones, hence why just for focusing camera may have limited or short life time in the
future. Therefore, CEO of the company requested to develop and analyze and develop alternative
strategy for following five years.
This stakeholder meeting simulation for wrap up last meeting’s outcome, analysis the recent
external environmental factors, opportunity and threat, determine alternative options for targeted
marketing segment, justifies preferred strategic outcome and brief implication plan in short and
long term for chosen option.
AIM
This report seeking to provide the best strategic development and related analysis from SFO’s
perspective for the Pro-Go for following 5 years.
DISCUSSION
Rapid technology growth creates wide scale digital disruption into every industry even the best
positioned product/services. Hence the managing team decided to either transform the current
operating process by collaborating with mobile phone manufactures or develop new products.
According to stakeholder meetings outcome there are 3 possible strategic ideas. Which are:
collabration
with mobile
phones
Augmented
bundle new options Reality
package (AR)
new product
range
Key drivers for the action camera market consists increasing popularity of user base of social
networking communities and application in such Facebook Instagram snapchat and twitter, trend
of live stream and share video and photos with their friends and followers.
 Customers decision making based on variety concerns, though most frequent concerns
are about the cameras features how it suites the need and price. The company is well
known by the smart small action cameras, which is the company have an ability to
manufacture cameras for mobile phones. Hence, one of the option could be provide
cameras for those outsourcing their cameras to cellphone manufactures.
 Another alternative option could be bundle package which promote to sell cameras with
the essential accessories, from customers perspective it bring cost effective purchase and
from the company’s perspective it able to boost indirect sales and remain competitive in
current camera and accessories market.
 Augmented Reality now knocking the doors and allow to experience computer generated
objects in real life experience. Recently Go-Pro’s founder Nick Woodman announced the
company will introduce action camera that has VR technology. (Cornish.C , 2017)
 Introducing new product range would allow upstream the manufacturing and increase the
ability to remain competitive in ricing technology disrupted environment by focusing on
new technological innovations rather than focusing on current product ranges.
CONCERNS AND RISKS ASSOCIATED IN THEM
In general, business’s performance evaluated by how it compares with the market and other
businesses in a company’s portfolio. SFM’s input in decision making process is significant to
clarity on resources allocation to higher growth option/new business idea/ ( Frithjof.L et all,
2018).
In terms of current finance and talent resource, there are following concerns and risk:
 Collaborating cellphone company could limit to expand the company’s innovation and
creations in wide range without focusing certain type of cameras. Therefore, it could face
some finance loss or able to lost market share without the company’s fault or decision
making since the company become collaborated with the cell phone manufactures it
depend on cellphones manufactures market position.
 Bundle package can boost sales in short term, however it can not offer long term
sustainable business process.
 AR technology could be beneficial though it requires substantial amount of resources
both financial and HR since the company is not expert of this technology, creating this
technology could be time consuming as well.
Therefore, lack of communication may result failure in early stages of the change in the company
( Tamilarasu 2012), and personal bias of individual who is responsible for planning and
implementing new program could damage to implement new idea(Raineri 2011).
RECOMMENDATIONS
Expanding current product range will allow to compete strongly in near future and create new
opportunity and increase market share as well. In regards of new range could be segmented as
follow:
It allows the
user to live
shoots in 360˚ stream to
spherical Facebook and
YouTube
Personal
Based on type ByAllows to
technology Based on end user
periscope capture gimbal-
like stabilized
and professional-
looking video
cube style Carbon and
Kryptonaction
cameras
Professional
Wi-Fi
bullet style connectivity and
water resistance
REFERENCES:
Cornish.C, 2017, GoPro pins turnround on action camera and VR, Financial Times, retrieved
from https://www.ft.com/content/7cfddf98-a47f-11e7-9e4f-7f5e6a7c98a2
Frithjof Lund, Justin Sanders, and Ishaan Seth, 2018, How CFOs can better support board
directors—and vice versa, McKinsey&Company, retrieved from
https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-
cfos-can-better-support-board-directors-and-vice-versa
Raineri, A. 2011, Change management practices: Impact on perceived change results, Journal of
Business Research, vol. 64, no. 3, pp. 266-272.
Tamilarasu, V. 2012, Change Management, International Journal of Management Prudence, vol.
4, no. 2, pp. 26-31.
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STAKEHOLDER

Word count: 646

Tutorial: Anna TSAPARAS

company) by assessing external environmental contexts and critically analyses alternative

were involved below members.

Members of Stakeholders meeting team:

 General Manager of company

 General manager of Supplier

 Senior Finance Manager

CONCERNS AND RISKS ASSOCIATED IN THEM.......................................................6

strategy for following five years.

long term for chosen option.

perspective for the Pro-Go for following 5 years.

cameras for those outsourcing their cameras to cellphone manufactures.

current camera and accessories market.

ability to remain competitive in ricing technology disrupted environment by focusing on

new technological innovations rather than focusing on current product ranges.

CONCERNS AND RISKS ASSOCIATED IN THEM

businesses in a company’s portfolio. SFM’s input in decision making process is significant to

depend on cellphones manufactures market position.

sustainable business process.

 AR technology could be beneficial though it requires substantial amount of resources

technology could be time consuming as well.

implementing new program could damage to implement new idea(Raineri 2011).

directors—and vice versa, McKinsey&Company, retrieved from

Business Research, vol. 64, no. 3, pp. 266-272.

Tamilarasu, V. 2012, Change Management, International Journal of Management Prudence, vol.

4, no. 2, pp. 26-31.

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