Introduction
Beyond Meat changing, consumer meat preference is a crucial case study that allows the reader to understand the real challenges affecting the business world today. The case study consists of a primary issue that is affecting the organization. Therefore, it was essential to identify the problem, analyze and develop a solution that will help tackle the problem. This paper presents the analysis and solutions to the Beyond Meat changing consumer meat preference challenges. The report illustrates the procedures applied to analyze the challenge and tools used to find a solution.
The first step of the case solution is to identify the main problem of customer meat preferences that change Beyond Meat and the stakeholders affected by the case study. This is the phase of problem identification where the right tools and models will help analyze and resolve the problem in the case study. In order to determine the solution, the following tools are used: PESTEL analysis, SWOT analysis, five forces porter’s analysis, value chain analysis and marketing analyzes. All the solutions comprise the required strategies to overcome the challenge. If the suggested solution is not feasible, it is advisable to use an alternative case study solution where the solutions will later be implemented. Finally, an appropriate case study solution will comprise an implementation strategy for all the recommendations.
Problem Statement
The central problem in this case study is affecting the organization and several stakeholders. In this stage, the problem will be identified by reading through the entire case study, which could be mentioned at the beginning or end of the case study. Sometimes, problem identification is easy because it is evident at the beginning of the case study, and sometimes a person has to analyze the entire case (David et al., 2017). To enhance the analysis and consistency of the case study it is vital to consider the stakeholders’ goals. Therefore, the problem statement refers to the detailed description of the issues that need to be tackled. It determines the gap or challenges between the current and the anticipated type of an organization; hence it should be determined to help the management develop a change. The problem statement answers the questions who, what, where, and why, allowing the organization to solve the problem.
The firm uses a problem statement to identify loopholes preventing operating efficiently or making adequate profits. It also allows the management to recognize the symptoms of the challenge and narrow them down to determine the actual problem causing damage to specific parts of the organization (David et al., 2017). Therefore, developing a problem statement for the Beyond Meat changing consumer meat preference is a process that requires adequate brainstorming among the organization team to determine the inefficiencies in the organization. It also comprises insights hidden from the organization, making it challenging to identify the factors that cause inefficiency and slow performance. At the same time, when developing the problem statement, it has to be clear and concise because it helps the stakeholders and the management identify the main problems and not get entangled in the symptoms of the problem. When the problem statement is straightforward, the reader can easily understand the main issue.
Additionally, clarity of the problem statement of the Beyond Meat changing consumer meat preference is significant to help avoid misunderstandings between the stakeholders and shareholders (Hill et al., 2014). A clear problem statement includes the factors and operations that get affected and their impacts on specific areas of the organization, such as brand quality, sales, and profitability. It also explains the external environmental factors and their impacts on the organization in the short or long term and shows the effects of changing factors on stakeholders and users. Most of the time, the problem statement should enhance the current state of the company through innovation.
Establishing the problem statement enables the management and its team to work towards a specific goal. This is crucial because it helps the organization grow and move positively, reducing deviating from its purpose (Hill et al., 2014). It also makes it possible to benchmark to achieve the desired conditions of the company, thus putting the team’s efforts in the appropriate direction. Furthermore, the problem statement does not describe the solution of a problem but helps identify the organization’s gap. However, the problem statement is half the solution of the identified problem; therefore, stating it well is paramount. Since the entire team in the organization is involved in identifying the problem statement, understanding the organization’s challenges is essential to every member.
Understanding the problem statement will help develop suitable solutions that address all the challenges and consider the risk factors. Therefore, stating a problem solution is not all about writing but understanding the factors affecting or affecting the organization (Hill et al., 2014). Hence, it is important to focus on human aspects, technology, innovation, and resistance to change when developing a problem statement because they directly impact the organization. The management should not deviate from the mission and vision of the organization when dealing with the problem statement because it will help analyze the organization’s current state. Therefore, the problem statement will help the organization understand the right solution to overcome challenges affecting the organization’s productivity. When writing a problem statement, it is significant to identify the factors that get overlooked and have a considerable impact on the organization in the long term.
This is an essential tool used for the main issue in the case and develops a solution. Therefore, swot analysis implies the strength, weaknesses, threats, and opportunities Beyond Meat changing consumer meat preference (Ayub et al.,2013). This tool is helpful, and many organizations use it for strategic planning and management. It is effective in building and developing strategies for an organization to enhance its competitiveness in the market. The tools also help the organization identify existing opportunities, capabilities, threats, and challenges in the market. At the same time, it strategically evaluates the organization’s projects, framework, and businesses. When the organization is making a crucial decision, swot analysis helps it determine the environmental factors and how they could impact the organization’s decision.
An organization conducts a swot analysis to determine its position in the competitive market and compare itself with competitors and other significant factors that impact competitiveness before developing any business strategy (Ayub et al.,2013). The Beyond Meat changing consumer meat preference has two swot analysis dimensions; the external and internal dimensions. The internal dimension includes aspects that can affect the company; these include strengths and weaknesses. Opportunities, environmental factors, and risks involve the external dimension.
Through swot analysis, Beyond Meat changing, consumer meat preference will maintain competitiveness locally and internationally by applying innovative systems that utilize the strength of the business to overcome the weakness present in the business (Helms & Nixon, 2010). At the same time, they will use the business strengths and weaknesses to utilize opportunities and kick away the business threats such as risks in the market conditions. The business will need swot analysis because of its expanded operations. Beyond Meat changing consumer meat preference is already in business and operating in distinct markets; however, besides all these markets being unique, they pose different challenges to the company. As the organization grows, it has expanded its portfolio, adding more products besides its initial products. Basing on the swot analysis, business operation in different markets poses challenges to the business; hence they have to develop other arrangement skills that will match the current markets. Both the internal and external elements of the organization will help Beyond Meat changing consumer meat preference increase its accomplishment in facing other companies and businesses locally and internationally.
The primary quality of this organization has a solid brand image that is premium and well know around the world. Hence the organization has established clients who will contribute to the business’s success (Helms & Nixon, 2010). The organization also has a form distribution network. It also has a steady investment in research and focuses on innovation, enhancing the company leadership and distinguishes it from its competitors. However, besides having positive qualities, the company also has its weaknesses. The first weakness is that people believe that all its products are expensive because of their premium quality. The company also faces an imitability challenge because most of its products can be easily imitated. At the same time, the opportunities for the company include expansion in new markets, partnering with different organizations, and establishing corporate clients.
Pestel analysis is a significant tool utilized in finding solutions to the case study. It looks at the external business environment factors that may impact the business and analyze real-life challenges. Pestel’s analysis focus on the macro-environment factors such as economic forces, political forces, technological factors, and sociocultural factors. To identify its trend, it must utilize the Pestel analysis regularly (Yuksel, 2012). This is because an external factor can harm some parts of the organization. Political factors have a direct or indirect impact on the organization. Beyond Meat changing consumer meat preferences, policymakers have the possibility of interfering with the business surrounding. Unfavorable taxes introduced by the government can affect the business negatively, whereas political stability can make it challenging for a company to conduct its operations. Economic factors also affect the organization; hence when the GDP is high, the disposable income is high; therefore, the company’s sales will also increase. On the other hand, inflation will affect the consumers’ purchasing power and increase raw materials’ costs. Additionally, sociocultural factors can influence consumers by affecting work trends and also consumer tastes. The also makes companies more consumer-centric hence the company will have to become consumer-centric and not product-centric. Beyond Meat changing, consumer meat preference can get affected by technological factors through innovation which may also impact leadership (Yuksel, 2012).
This tool is important because it is applied in a competitive environment where meat preference operates Beyond Meat changing. Business operations resonate with real-life hence competitive analysis is significant. According to porters five forces, Beyond Meat changing consumer meat preferences environment is analyzed in five dimensions. The first analysis is the threats that the business will experience from the new entrants in the market. Second, there are dangers from substitute items and market customers’ negotiating power and distributors’ bargaining power. Lastly, the competition within the market is analyzed. By applying this tool, the organization will determine and understand the strengths of major players in the market (Baburaj & Narayanan, 2016).
Recommendation/ Implementation Plan
A recommendation is developed when the developed options get evaluated based on the one that provides maximum value to the company and solves the problem statement. Hence, the recommendation will offer a solution to the existing issues and reveal the implementation process and right action the company should take to increase its productivity (Kotler & Armstrong, 2010). A good recommendation covers all areas that the organization will implement the solutions to benefit the company. The proposal will offer the Beyond Meat changing consumer meat preference the appropriate directions to improve its competence, strengths and mitigate threats. The first recommendation for this organization is to strengthen its supply channels.
This recommendation will grant the company absolute control of all its products in the market. Therefore it will control where its products will be placed, the accessibility, and product availability. Secondly, the organization should enhance its relationship with the customers because it will help the company get their feedback and provide high-quality products (Kotler & Armstrong, 2010). Thirdly, the organization has to establish unique market strategies to reach many customers and penetrate different markets. These strategies will involve developing specific ways of communicating with the customers. Fourthly, the organization has to adopt other cultural practices in every market that it ventures. This will help the company connect with customers in that market, positively increasing its sales in the long run. When the company adapts to the cultures, it will represent itself well to its customers, creating a greater connection; hence the customers will be willing to purchase the company products.
Moreover, the organization should also venture into new regions to have exposure to new audiences. When the consumption rate of the company products goes up, the returns on investment of the company will also increase (Kotler & Armstrong, 2010). Hence the company will expand locally and internationally. When the company expands into a new region, it has to diversify its product line. Beyond Meat changing, consumer meat preference will penetrate the existing market by adding more products to explore new customers, diversifying its returns on investment. Lastly, the company has to reinforce its value channel. This includes adding quality products in every stage and frequently improving existing ones to meet consumer needs. The organization will increase its competitive value and make it challenging for new competitors to enter the market. Therefore, it will maintain competitive leadership locally and internationally.
Contingency Plan
Contingency plans are essential because they show different ways of achieving the main goal by applying other alternatives. The organization will have to develop ways in which it will adapt to change. The first step is to determine the forces that drive the business, such as technology, macroenvironment, consumer demands, and economy. The company will also consider the vulnerabilities that may be existing in the market and develop an alternative solution if the first strategy fails. The organization will evaluate its contingency plans by considering its market share, profitability, sales, and competitive advantage. It should also consider its financial capabilities because they are key determinant factors for meeting its goals. When implementing the alternative strategy, the organization should consider the opinion of the entire team to ascertain the effectiveness of the plan and its effect on the organization in the long term.
