Monday, October 7, 2019

Cheshire Neighbours Credit Union Case Study Example | Topics and Well Written Essays - 3500 words

Cheshire Neighbours Credit Union - Case Study Example The study made three important findings. Firstly, Cheshire credit union unlike other financial institutions has but members and not customers. This has become part of the company's culture. To the company the institutions exist to cater for the needs of all the members. Secondly, we find out that the activities of the credit union are affected by all the environmental factors listed on the framework. Through the credit union principles of savings and loans, the company has been able to break through local market saturation, gain market potentials, and make financial gains. In addition, its continuous emphasis of savings and loans has created awareness for consumer's existing problem. Through this, new line of products is developed and with it effective marketing strategy the products are pushed to the customers through integrated marketing. Thus, through new products customers are pushed into recognising an existing problem. Today's business environment has increasingly become more turbulent, chaotic and challenging. To survive in this environment, it is vital that a firm can do something better than its competitors ( Wonglimpiyarat 2004:1). ... Globalisation has not only altered the natu and the intensity of competition but has had to dictate and shape organisations in terms of what consumers wants, how and when they want it and what they are prepared to pay for it (Hagan 1996:1). Kanter (1995:71) on his work of "Mastering Change" argues that success in the present day business is not for those companies that re-engineer the way they do things, or for those fixing the past. According to Kanter (1995) such an action will not constitute an adequate response. This is so because success is based on an organisation's ability to create, rather than predict the future by developing those products that will literally transform the way the world thinks and view it self and the needs (Kanter 1995:71). In business, environmental analysis is an appreciation of an organisations activities vis--vis its environment (Lin& Lee 2006). Such analysis has become imperatively necessary in the light of increase competition as present, subsequent operations and strategies direction will be dependent on the result (Lin& Lee 2006). According to wikipedia, it is a process by which a business gathers information from the environment to achieve a sustainable competitive advantage. In analysing the environment, the tool kits frequently used include The PESTLE Framework SWOT Analysis Porters five forces Competitors analysis Core competence This paper uses some of the above framework to gather information about Cheshire Neighbours Credit Union. The first part of the paper provides an overview about Cheshire credit union, while part two of the paper uses the PESTLE framework and Porters five forces framework to see how

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