Strategic and Sustainable Accounting for Future Strategies

Introduction

In order to develop effective future strategies for Chobani, which help in efficient business operations at first have to do environmental audit of the company, so that the business environment of the company can be understood that help in developing the strategies accordingly. In order to do the environmental audit of the company SWOT analysis of the company would be very effective as it will provide the knowledge of the company’s internal as well as external environment (Jeffs, 2008). The internal environment consists of the strength and weakness of the company and the external environment consist of the opportunity and the threats for the company. The strength and weakness of the company is mainly company own strength and weakness within its business operation and the opportunities and threats are from the external world, which influence the business activities of the company. Apart from the SWOT analysis, for developing effective strategies the analysis of competitive environment is most important and in this matter the Porter’s five forces analysis is most useful

Main body

 This specific SWOT analysis of the US Company Chobani will provide a strategic SWOT analysis of the firm’s business and its operations. The profile will demonstrate a comprehensive view of the firm’s major strength and weakness along with the potential opportunities and threats (Jeyarathnam, 2008). The company has increasing demand in the market for its products as well as services and the market will be increased continuously in the coming years and the trend will be continued.  The SWOT analysis of the Chobani will provide competitive advantages to the company.

Strength

  • Skilled workforce of the company

The company has a good level of skilled workforce that provides competitive advantages to the company. As the company is a manufacturing and distribution company the workforce of the company play major role for the company and as the company Chobani has good amount of skilled workforce the business operations of the company is easier and smoother so that the production and distribution efficiency of the company in improving continuously (Sadler, 2003). Furthermore, it provides extra benefits to the company and help the company in staying ahead of the arch rival of the company.        

The company has essential production efficiency that help in delivering high quality product to the vast number of loyal customers. 

Presently, Chobani Yogurt is considered as number one brand for their Greek Yogurt product category.

The brand Chobani is extremely popular among the moms and children that increase its potentiality and provide addition advantages in the cutthroat competitive market.

 Weakness

Cost structure of the company is measured as weakness for the company, as the cost structure is an inefficient cost structure and it reduces its profitability.

Future profitability is not secure for the company as the company has inefficient cost structure.

Future debt rating of the company is increasing, which is also a significant weakness for the company.

The company is currently considered as a small business unit, which is also a significant weakness for the company.

Opportunities

  • Contentious increment in income level

Contentious increment in income level provide vital opportunity to the company, which keep the in contentious improvement process.

  • Growth rate and profitability

The growth rate and profitability of the company is also contentiously improving that also provides considerable amount of opportunities to grow and develop.

The global market of the Chobani Greek Yogurt is increasingly growing and it is a significant opportunity for the company.

The demand for the product from the company is increasingly growing and which provides significant amount opportunities to the company.

Threats

Increasing cost of the raw materials is considered as significant threats for the company.

  • Increasing rate of interest

Increasing rates of interest can be a vital threat for the company.

The price changes in the market can be a major threat for the company.

The technologies are rapidly advances and to match with the change is also a significant threat for the company. 

Apart from the SWOT analysis, for developing effective strategies the analysis of competitive environment is most important and in this matter the ‘Porter’s five forces analysis’ is most useful (Saloner, Shepard, & Podolny, 2001).   

Porter’s five forces analysis

Bargaining power of the buyers

Bargaining power of the buyers is limited as there is not any substitute products and the brand is highly popular.

Bargaining power of the supplier

Bargaining power of the supplier is also very minimal as the company is the sole producer of this types of yogurt.

Threats of substitute product

Threats of substitute product are also minimal.

Threats of new entrant

Threats of new entrants are also negligible.

Industry rivalry

The company is the number one brand and the rivals are not yet strong enough to become threats for the company.

The company can apply the strategy of increasing the health awareness by providing health education among the primary level students by their health experts can increase the sale of Green Yogurt produced by the company (Subba Rao, 2010). The company can encourage people by informing them about the significant benefits of the Greek Yogurt.   

Conclusion

Effective SWOT and PORTER FIVE FORCE analysis help in efficient audit of Chobani and it helps in the enhancement of the effective strategies for the organization.

Knowledge Management

Introduction

Knowledge management is one of the most significant management aspects it helps in using the knowledge and information to acquire competitive advantages from the market. Knowledge management is a systematic procedure of management of a company’s knowledge and information in order to create values as well as improving value so that can be able to meet the tactical as well as strategic needs of the company. The knowledge management composes initiatives, procedures, and strategies along with the system, which sustain as well as improve the storage, evaluation or assessment, sharing, sophistication as well as creation of the knowledge (Amine Chatti, 2012).     Knowledge management is effective use of knowledge, effective accumulation of knowledge, effective preservation of knowledge as well as effective mange of knowledge.

Main body

Knowledge management builds a strong tie among the organizational goals and objectives with the strategies as well as it associates the management of knowledge, which is effective for some purposes as well as it creates value for the company. The company Chobani effectively uses the knowledge management aspects in order to create value for the company and it provides significant competitive advantages to the company. The TPG help in managing the knowledge by effective use of knowledge management. The company utilize efficient software’s to accumulate as well as store useful information for the company as well as manage the information and knowledge as per the need of the management of the company (Ceptureanu, 2016). There are systems that improve the information feed by the operators and enhance the quality of the knowledge. By using the information of the knowledge the company Chobani can improve the quality of the product as well as the price can also be competitive in comparison of the rivals. Therefore, the company can improve their core sale activities and improve the profitability of the company.   

Implementation of a knowledge management system

The implementation of a knowledge management system includes not only the activities and the programs but also different factors that are seemed to be responsible for the process of implementation that are the people, structure, processes, culture and the technology (ABAR & KINOSHITA, 2011). It also helps in the creation of consideration of the culture that is seemed to be responsible for the increment of the ability of the individual and thereby it also helps in the creation of transforms in the organization. The implementation process helps in bringing changes in the environment of the organization with detecting the issues that the organization is current facing. It also helps in the establishment of the knowledge sharing cultivation with the driven culture (Ahmad & An, 2008). The implementation of a knowledge management system model that the Chobani uses for the organization of Yoghurt is given below:-

This model explains the various implementation steps that are generally used in the industry of Chobani and thereby the successful results are found in the case of quality of services with control, company reputation and good public relationship.

Evaluation of the success of this implementation model of knowledge management

The success of this implementation model of knowledge management is gained by the construction of the appropriate system in the organization. Thereby the organization of Chobani is seemed to be developed in keeping view of the knowledge management system. The knowledge management system consists of the identification, selection, organizing and transferring the information and the skills in the workplace in the form of work. With gaining the ideas of these basic parts of the knowledge management system, the critical success factors becomes easier to be considered which helps in bringing growth and prosperity in the organization (Candra, 2014). The customer satisfaction with the consideration of the growth of the factors is seemed to be crucial for the enhancement of the organization. The growth and henceforth the construction of the organization in the competitive market become easier with acquiring the knowledge of implementation model of knowledge management.    

Conclusion

With the help of effective knowledge management system the company Chobani improve their business activities so that the company can improve its profitability. Moreover, in this way the company can be able to accomplish necessary growth and development on behalf of company. 

Product mix

As per the assumptions of the infinite machine hours are considered for Chobani, the product line focuses on the manufacturing of yoghurt with the creation of drastic environment in the parte for the enhancement of the Yoghurt platform. The goods and services provided by Chobani help in the creation of aggressive enhancement of the industry of Yoghurt. It also helps in the increment of the production of the goods and thereby helps in maintaining balance in the product line which seemed to be focused on the Plain containers and the fruit on the bottom containers. Therefore the increment of the manufacturing efforts is seemed to be created for Chobani with the competitive market in the product lines of Yoghurt.

 

Plain Containers ($)

Fruit on the Bottom ($)

Market Price

2.5

2.85

Direct Materials

-0.75

-0.9

Direct Labour

-0.15

-0.17

Variable Overhead

-0.15

-0.17

Fixed Overhead

-0.2

-0.2

Profit per unit

1.25

1.41

Production per hour

720 Unit

514 unit

Profit per hour

$900

$724.74

Plain containers would be the focus of chobani’s manufacturing efforts. The profit of plain containers is more than Fruit on the bottom.

7.

As per the assumption of constraining the machine hours for Chobani, the production rate seemed to be decreased with the removal of the focus from the production lines. It thereby helps in creating a misbalance in the production lines with considering the factors of the enhancement (Truss, Mankin, & Kelliher, 2012). The increment of the focus is created with the increment of the production lines of the product produced. Therefore the manufacturing efforts are seemed to be decreased with forming a part of disadvantage for Chobani’s Yoghurt. Therefore the constrained time hours must be removed in order to create demand for the product in the market and thereby these enhancements help in the creation of growth in the market.

 

Plain Containers ($)

Fruit on the Bottom ($)

Market Price

2.5

2.85

Direct Materials

-0.75

-0.9

Direct Labour

-0.15

-0.17

Variable Overhead

-0.15

-0.17

Fixed Overhead

-0.2

-0.2

Profit per unit

1.25

1.41

Production half hour

360 Unit

257 unit

Profit per hour

450

362.37

Plain containers should be manufactured by the company as the profit is higher than Fruit on the bottom.  

8.

 

Plain Containers ($)

Fruit on the Bottom ($)

Market Price

2.5

2.85

Direct Materials

-0.75

-0.9

Direct Labour

-0.15

-0.17

Variable Overhead

-0.15

-0.17

Fixed Overhead

-0.2

-0.2

Production in 97  hour

 

50,000

Production in 53  hour

38160

 

Linear programming

The optimal product mix helps in determining the quantity of each product that is produced on the monthly basis. It helps in providing the simplest form of the product mix problems that helps in maximizing the profit. The product mix consists of the following constraints that are the product mix can’t use more resources than are available and the limited demand is created for each product (Galal & Moneim, 2015).  The optimal mix helps in the creation of the resultant profits that helps in the showing the profits made in the 900g, 450g and 170g of the product. Thereby it also helps in the identification with providing the profit ranges of each product.

Vanilla Blended Yogurt

 
 

900g

450g

170g

Selling Price

6.5

5.5

2.5

Raw materials

-2.17

-1.76

-0.39

Direct labour

-1.52

-0.88

-0.26

Overhead

-1.08

-0.88

-0.37

Selling and Admin

-0.65

-0.55

-0.3

Profit

1.08

1.43

1.18

10.

Profit of 900g vanilla blended yoghurt = $6.50 – ($2.17+ $1.52+ $1.08+ $0.65) = $ 1.08

Profit of 450g vanilla blended yoghurt = $5.50 – ($1.76+ $0.88+ $0.88+ $0.55) = $ 1.43

Profit of 170g vanilla blended yoghurt = $2.50 – ($0.39+ $0.26+ $0.37+ $0.30) = $ 1.18

Vanilla Blended Yogurt

 
 

900g

450g

170g

Selling Price

6.5

5.5

2.5

Raw materials

-2.17

-1.76

-0.39

Direct labour

-1.52

-0.88

-0.26

Overhead

-1.08

-0.88

-0.37

Selling and Admin

-0.65

-0.55

-0.3

 

53687092.2

   

For the formulation of the linear program to determine the expected mix of Vanilla Blended varieties, the maximum profit can be obtained by the following equations that are given below with the assumptions. The symbols that are taken are  “X” for 900g vanilla blended yoghurt, ”Y” 450g vanilla blended yoghurt and  ”Z” 170g vanilla blended yoghurt. Therefore the maximize profit calculation can be done by the following equation:-

Maximize= 1.08X + 1.43Y + 1.18Z

Henceforth the above equation helps in the increment of the profit with providing the linear program for the enhancement of the profit of Chobani manufacturer. In this way the linear program is created for the maximization of the profit for Chobani manufacturers of Vanilla Blended Yoghurt with the creation of variation of the size of the containers.

References

Amine Chatti, M. (2012). Knowledge management: a personal knowledge network perspective. J Of Knowledge Management, 16(5), 829-844. http://dx.doi.org/10.1108/13673271211262835

Ceptureanu, S. (2016). Knowledge Cycles and Knowledge Management. International Conference KNOWLEDGE-BASED ORGANIZATION, 22(1). http://dx.doi.org/10.1515/kbo-2016-0031

Jeffs, C. (2008). Strategic management. Los Angeles: SAGE.

Jeyarathnam, M. (2008). Strategic management. Mumbai: Himalaya Pub. House.

Sadler, P. (2003). Strategic management. Sterling, VA: Kogan Page.

Saloner, G., Shepard, A., & Podolny, J. (2001). Strategic management. New York: John Wiley.

Subba Rao, P. (2010). Strategic management. Mumbai [India]: Himalaya Pub. House.

ABAR, S. & KINOSHITA, T. (2011). Design and Implementation of a Reusable Knowledge Model for Supporting the Network Management Functions. Interdisciplinary Information Sciences, 17(1), 19-37. http://dx.doi.org/10.4036/iis.2011.19

Ahmad, H. & An, M. (2008). Knowledge management implementation in construction projects: a KM model for Knowledge Creation, Collection and Updating (KCCU). IJPOM, 1(2), 133. http://dx.doi.org/10.1504/ijpom.2008.022189

Candra,. (2014). KNOWLEDGE MANAGEMENT AND ENTERPRISE RESOURCE PLANNING IMPLEMENTATION: A CONCEPTUAL MODEL. Journal Of Computer Science, 10(3), 499-507. http://dx.doi.org/10.3844/jcssp.2014.499.507

Galal, N. & Moneim, A. (2015). A Mathematical Programming Approach to the Optimal Sustainable Product Mix for the Process Industry.Sustainability, 7(10), 13085-13103. http://dx.doi.org/10.3390/su71013085

Truss, C., Mankin, D., & Kelliher, C. (2012). Strategic human resource management. Oxford: Oxford University Press.

 

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