Strategy And Decision Making Assignment Sample

Decision Making Strategy at Beyond Meat

Introduction of Strategy And Decision Making Assignment

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Beyond Meat is a pronounced company for its plant-based protein food product in the USA. It has an orientation to replace the animal-based protein supplement in food products. It competes both in the USA and internationally. It possesses unique valued proponents for animal welfare and human health and therefore, strives to replace animal protein with plant-based protein. It has different resources and capabilities which is not only confined to delivering ready to eat plant-based food products but offers a set of other food products such as beyond breakfast sausage, beyond beef, beyond chicken products and fried chicken. It can deliver value sustainability because the supply of plant protein is sustainable and renewable; therefore, the company can deliver that value food product sustainability. Justification of the performance of the company over time can be done by observing the three useful business tests such as market demand, revenue generation and market expansion. Its revenue generation increased from 8.8 million $ in 2015 to 298 million $ in 2019. This figure substantiates the three tests of market demand, revenue and expansion of the market in other countries as well. Therefore, it can be further stated that the company in concern has huge market potential in the vegan food product industry which is the future of the world according to various studies.

Case Study on Beyond Meat, Inc.

Strategic management; role, importance, tools and techniques

It has different kinds of strategies such as marketing, growth, distribution, R&D, production and supply chain strategy. For example, it adopted product differentiation of the plant-based food product along with the expansion of retail stores for selling its product and stocking the same. In the growth sector, it has a strategy of increasing market expansion using retail grocery along with foodservice channels both in the domestic and international markets.

Distribution Strategy of Beyond Meat

(Source: Ostaev et al. 2019)

It has three broad perspectives of distribution strategies which are selective, intensive and exclusive distribution systems. Selective because it distributes some key protein resources edible by almost all the people of the home or international (Ostaev et al. 2019). Intensive is due to the continuous supply of the protein supplement and exclusive due to differentiation of both animal and plant protein to its supply chain.

Tools and methods of strategic analysis

(Source: Sulich et al. 2021)

There are several concepts and techniques of strategic analysis for an internationally operating business model. These concepts are logistical system analysis competitive advantage analysis, product quality analysis. The techniques are IT forecasting methods integrated measurement systems such as the application of machine learning and IoT in the data analytics of the company (Sulich et al. 2021). Other than that economic concept of strategic analysis of the international operation is also utilised by this company in its strategic analysis.

Role and importance of decision making in the international business management

Strategic decision making of this company includes identification of options and problems, information processing improvement of the business operations using feedback from both the employees and the customers and implementation of the same. Therefore, this company uses various steps to take decisions for corporate and international business practices (Miarka et al. 2018). In this way, a consolidated and scientific decision making and choosing method has been practiced by this company both in its domestic and international business operations. The theory of competitive advantage can be applied in the international business processes of this company. This theory says that, for strategic analysis, organizations must take into accounts factors of production, existing strategic structure, and rivalry profile of other companies, the feasibility of related or supporting industries and the demand of the product in both domestic and the international markets. This has been further depicted in the following figure.

In the above figure, the factors such as input materials processing factors of production and the quality of the product have been considered. After that, a comparative analysis with other company's products has to be made. The strategic part of this theory offers the taker of this strategy to observe its rivals in all its aspects and developed the counter strategies accordingly. Beyond Meat can take the advantage of the uniqueness of the product that came from the plant product to capture the domestic and international market (Ibrahim et al. 2019). This will help in determining the demand condition of the product and how the scale of demand has been increasing due to the unique features of the product.

Beyond Meat provides choices to its customers both related to animal and plant protein. It has enforced the tie-up with the KFC but is required to enhance its brands to capture the foreign markets. Therefore, key decision making approaches for this company would be to adopt branding its product so that a base of the international appearance can be created. It should take the approach of separating both plant and animal protein in different stores for the customers to attract more vegans in its store and retail shops. Even though this approach will cost the company for creating different retail stores, the long-term can outnumber the loss incurred in the short run. Other than that, Beyond Meat can also approach to tie up with the internationally operating hotels and restaurant organization to sell its product under its brand name. It will take some extra charges for marketing of the product by such restaurants and hotels, but the charges of general marketing on its own can be higher (Armstrong et al. 2019). Therefore, formulating and appraising the short-term critical decisions such as mentioned above can be subscribed to enhance the business operation in the international market along with its contexts.

The above mentioned strategic options can further be enhanced by adopting some other kind of decision. Some effective decisions are; taking the selling data of the rival company into consideration, measuring the demand of the customers for some specific type of protein supplement products and so on. This company makes effective decisions based on the number of vegans and non-vegan in the consideration. This help Beyond Meat to take appropriate production decisions by lowering the waste generation due to the mass production of food products. For example, plant protein food products can be costly and therefore, their sales in developing countries could be lower than the developed countries (Soule et al. 2019). Developed countries’ per capita income is higher and can subscribe to vegan products. On the other hand, per-capita income or the consumption expenditures of the food products of the developing countries is lower. They do not focus on food products mostly and simply rely on animal protein which is comparative lower priced. Therefore, in comparison to vegan and non-vegan products, developed countries will probably choose vegan products but the developing or least developed countries will choose non-vegan products. Therefore, an effective business decision of the company would be to sell the plant protein in developed countries and animal protein in the developing or least developed countries.

Specific issue appraisal for the international business operations

It has been observed from the case study that the R&D investment in Beyond Meat is huge and incurred 6.9% of the total revenue in 2019 (Mohor?ich and Reese, 2019). It becomes a specific issue for them. Therefore, Beyond Meat can adopt the strategic concept of outsourcing the services of R&D in its food innovation. This way, this company can reduce the expenditure on R&D drastically as the money resources for outsourcing such services will incur a relatively less amount to the company (Gerhardt et al. 2020). Other than that, critical tools such as data mining, feedback of the customers and machine learning can be opted to determine the customers’ base, choice of the customers and market for the product respectively which are other specific issues for the company.

Understanding and analysis of the strategic position of the organization require the deployment of various tools such as BCG matrix, SWOT analysis, PESTLE analysis and so on. BCG matrix of Beyond Meat can depict the various competitive aspects of the specific product in the domestic and the international market. SWOT helps the organization in detecting the strength of the company in the food market, weaknesses, opportunities and the scope of the products in particular and the company in general (Belo et al. 2021). On the other hand, PESTLE analysis helps the company to analyse the impact of various social, technological, environmental, political and economic factors on the product and the company’s position from the strategic point of view.

International strategic decisions of the company comprise the decisions on tools and techniques in the business operations, the appropriate theoretical background of any new business decisions and the time and scale of implementations. Therefore, some critical thinking and arguments are required for Beyond Meat. this company uses various business management decisions such as investment in R&D for producing a new type of animal and plant-based protein food products (Fulkerson and Tushingham, 2021). In this sense, critical appraisal of business decisions can be delineated or defined as the timely, efficiently and resource-based decision making subject to competition, demand and number of customers in consideration. The timely decision is the essential appraisal for critical business decisions because the early start in the business always benefited the initiators. Efficiently implementation of the business decision by allocating appropriate resources is also critical from the business management point of view. This critical appraisal must confirm the constraints of competition, market demand of the products of the plant and animal protein and the number of customers for both the animal and plant protein. This way, the critical decisions of Beyond Meat can manage the business operation in the international and domestic market more critically and effectively.

Conclusion and Recommendations

This project report is overviewed in the descriptive term that the managing condition of the managing strategy of a company along with its states and function. The controlling power of the company holds down different aspects of raising its growing power and legibility. On different aspects the company hosts different progressive knowledge which is differently overviewed in this study. In the outlet of this project, it is overviewed the frequent change a company can have during a time and in its possible cause. The formation of the company takes the back opposition of any people where developing conditions are high. It is the report where the project is highlighted with the different frequency of timer and its change. On the receiving, to the company, internal condition it has a possible effort that is earned to have and system to account the organization perspective. In this case study on Beyond Meat, Inc. the evaluation shows different sides on the success towards a strategic view. The company also evaluates the simultaneous condition of the different structures of the company. This framework about the company is highly researched that the central idea of Beyond Meat, Inc. can be centralized on a different perception of wills and efforts. Whereas this study it involves the credential part of the company.

Recommendations

As per the overview of this report, the results and cause can be highly recommended.

• A company can evaluate the situation of profit more rapidly when there is an organized function of processing. The function of this company can also overtake the other one by one service providing to a company employees so that they can have a rapid growth in its work. In different circumstances, it can be replaced by new inputted of the company in delivered growth. Hence moving forward to the company study it can also formulate different conditions to take forward a company in static methods.
• In between different surveys of the company it can also satisfy its growth in maintaining the function and theory to overcome down situation. In the description, the company can change its background to evaluate the reference on its business strategy. The vigorous conviction on different strategies the company can also be overviewed on public strategy. On looking forward the company can visualize different customers and distributors involved in its production.

In condition, the comfort ability on this company gives 6he review on its products which can qualify the similarity of different other company. The ethical view also shows the exception of different competitive companies according to the high growing function. Therefore, according to the study about the company, it is highly acknowledged that the frequency of the company can have possible growing on then progressive needs. The commerce to overcome the practical situation the company Beyond Meat, Inc. can also circulate its production on world circle to find a legible growing function. The company study also proves the static condition of their public objects.

Appendices

Appendix 1

Context

Appendix 3

External Analysis

Pestle analysis

Porter’s 5 Forces

Opportunities and Threats

Appendix 4

Internal Analysis

Resource audit: The organization has been auditing the resources in order to determine the quality to maintain certification of safe food from WHO. Improbability in maintenance may lead to misidentification of the tangible and intangible resources.

Value Chain Analysis

Threshold Capabilities: The organization limits its production according to demands and season. Availability of raw materials is also a factor for threshold maintenance. Application of food safety procedures and maintenance of standards impact the production line up with time management.

Strengths and Weaknesses

VRIO TEST

Appendix

Competitor Analysis

Appendix 5

External analysis

Integration

Backward: The Company has a backing up function on a different side of the growth on manual condition. It takes the utility of growing function on knowledge expansion of the company

Forward: The Company can be forwarded when people give the remark of its production and proper utilization. It takes forward a company to achieve growth.

Diversification

Related: The growing power of the organization depends on the working ability of the company so that it can rise to a higher place.

Unrelated: The function of the company can be not related to the opposition of the quality and quantity even in the secondary production.

Appendix 6

PORTER’S DIAMOND ANALYSIS

Appendix 7

SCOPE CHANGING

Appendix 8

EVALUATION OF FRAMEWORK

Appendix 9

TOWS ANALYSIS

Appendix 10

RISK ASSESSMENT OF RECOMMENDATIONS

Appendix 11

TYPES OF RECOMMENDATION

Appendix 12

SAF ANALYSIS

Reference

Journal

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