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Improvement Project of Science Construction CS

Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi...
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how strategic management applies to a variety of organizations



           Ferrari is a well-known luxury sports car manufacturer. In this discussion, I am going to discuss its strategy using Mintzberg 5 Ps of strategy. The 5 Ps of strategy is meant to cover and articulate the broad subject of strategy (Ketchen & Short, 2012). It is useful in analyzing strategies, as shown below: -
Strategy Analysis
Plan
            Ferrari new plan for the 2018-2022 period is to produce 15 new models that are mainly hybrid cars and an SUV (Flak & Rebaudo, 2018). Ferrari CEO stated that "not everyone who loves Ferrari loves driving sports cars" (LILLI, 2018, para. 2). Therefore, management are trying to capitalize on the Ferrari brand to sell more cars to other consumers while remaining true to the Ferrari spirit.
Poly
           Current hybrid cars are silent when it comes to exhaust sounds. Ferrari is a leader in sports cars that enjoys an appealing sport sound of their vehicles. So, how can Ferrari enter the world of fully electric and hybrid engines without compromising its passion and position? Well, its chief technology officer has said that the sound will continue to be part of the Ferrari experience, and the music will deliver “a punch to the stomach” as he described it (LILLI, 2018, para. 5). Therefore, Ferrari seems to utilize sound as poly to penetrate markets that were not possible for current manufacturing to penetrate due to lack of the sport sound in their cars.
Pattern
            Ferrari strategy pattern is to immerse itself in research and development to stay a leader in the luxury sports cars industry. Innovating is an obligation for Ferrari to continue producing cars with state-of-the-art technology. Although lately, Ferrari is shifting paradigms while staying true to its passion with hybrid engines.
Position
            Luxury sports car brand with extreme performance cars build about Ferrari formula one heritage while selling merchandise under the Ferrari brand; a car that is owned by the few. The few should be celebrities and known figures, not any person who has money such as criminals. For this, a background check of the purchaser is mandatory before selling any car (Bhasin, 2018). Exclusivity as an emotional benefit and loudness and aggressiveness as brand personality is vital to remain true to its roots.
Perspective   
            Ferrari was lagging in entering the SUV markets that competitors such as Porsche benefited from early with its luxury Cayenne SUV and luxury four-seat cars such as Porsche Panamera. Ferrari, later on, manufactured the four-seaters Ferrari GTC4 Lusso in response to Porsche, which is a step toward expanding their market share while also keeps exclusivity intact by keeping the prices very high. Therefore, although Ferrari was lagging when it comes to expanding their product line, it is now entering those markets with a plan that guards their position well.
Conclusion
            Ferrari brand has invested a lot into building such sustainable competitive advantage through its strong brand. They will exist as long as it continues its excellence, and as long as rich people exist. They capitalize on exclusivity by charging higher prices and limiting its car supplies. Ferrari needs to return to win Formula 1 races if they want to save their heritage as a leading formula one winner.
References
Bhasin, H. (2018, March 21). Marketing Strategy of Ferrari - Ferrari Marketing Strategy. Retrieved June 24, 2019, from https://www.marketing91.com/marketing-strategy-ferrari/
Flak, A., & Rebaudo , S. T. (2018, September 18). Ferrari plans 15 new models, SUV to deliver earnings growth. Retrieved June 24, 2019, from https://www.reuters.com/article/us-ferrari-strategy/ferrari-plans-15-new-models-suv-to-drive-earnings-growth-idUSKCN1LY0KJ
Ketchen, D & Short, J. (2012). Strategic Management: Evaluation and Execution. This book is licensed under a Creative Commons by-nc-sa 3.0 license.  Retrieved from: http://jsmith.cis.byuh.edu/books/strategic-management-evaluation-and-execution
LILLI, E. (2018, September 18). Ferrari Reveals 2018-2022 Roadmap With More Hybrid Models. Retrieved June 24, 2019, from https://www.motor1.com/news/266493/ferrari-reveals-roadmap-more-hybrids/

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