Description
Utilize the Unit 5 template.
Describe how the four functions of management relate to each other.
Introduce the company chosen in Unit 1. State the mission, vision, and values of the company.
Keeping in mind the organization’s mission, identify one strategic goal and trace that goal through the tactical and operational levels of planning with one specific example at each level.
Specify the appropriate person in the organization responsible for managing the goals at each level as well as what forms of power would be most useful in each level with supporting details.
Describe at least one formal bureaucratic control that would aid in evaluating progress toward the operational goal you identified. Be sure to mention how you would measure the control.
Competitive and Macroenvironment Factors
Competitive and Macroenvironment Factors
Introduction
The firm I chose is 1-800-FLOWERS.COM, Inc. The company is a market leader in providing gifts for
clients to use during communication, bonding, and celebration (Mill, 2020). The company’s e-commerce
platform is home to a stacked inventory of household names. One way 1-800-FLOWERS.COM, Inc.
intends to grow closer to its consumers is through its Celebrations Passport loyalty program. The club
gives members perks like free standard shipping and no processing fee across all of the company’s brands.
The firm also runs BloomNet, a global service provider for the flower and gift industry that provides a
wide range of services and products meant to boost members’ bottom lines. The company is a lifestyle
firm that provides live-streamed digital floral, culinary, and other services to customers all over the nation.
In this regard, the paper will give a detailed analysis of 1-800-FLOWERS.COM, Inc.’s macroenvironment
and competitive environment.
Impact on 1-800-FLOWERS.COM, Inc.
Competitive Environment
Several factors outside I-800-Flowers’ control can affect its business, including existing and
potential competitors, customers, potential service/product substitutes, and suppliers.
Essentially, a close competitor is a rival in the business world. In that regard, competitors are
similarly sized and offer equivalent goods. Floral arrangement competitors to 1-800-Flowers
include Teleflora, Bloomex, and Urbanstems. New competitors are similar to rivals in that they
pose a danger to an enterprise despite being much younger than their rivals. Since 1-800-Flower
is the industry leader in the company context, any other flower delivery service is a potential
rival. Also, a customer is someone who purchases something from a company (Mill, 2020).
Customers can be anyone who purchases either a physical 1-800-Flowers location or the
company’s online shop (Bateman et al., 2020). A substitute is a service, product, or provider that
can replace the original. Within these confines, 1-800-Flowers floral can closely substitute the
floral form decoration with compact moss, wood aspen, marbles, clay, gravel, sand, and pebbles.
Macroenvironment
Social norms, demographics, technology, the economy, and legislation are all elements of the
macro environment. I discovered the above facts about 1-800-Flowers from reviewing their
company file at Hoover’s. The Food and Drug Administration’s laws and regulations impact the
business the most. The Food and Drug Administration’s governing body is mandated to ensure
the public’s safety because the company offers edible options like baked pastries and fruit
bouquets. Contextually, the economy scopes around aspects such as disposable income and
consumer habits. Hoover estimates that in 2019 1-800-Flowers made $34.77 million in revenue
(Mill, 2020). Statistics like these reflect the large population that, year after year, people strive
to enrich the lives of their loved ones by providing them with memorable festivities and holidays.
In that regard, the company has every right to be at the top.
Notably, by creating novel commodities and commercial avenues, technology has considerable
sway over the macroenvironment. Technology has made flower and arrangement orders over
the phone much simpler for 1-800-Flowers. Anyone can personalize an order on the company’s
website in a matter of minutes, and it will be shipped to the customer within a few days.
Conceptually, people’s sex, age, and other demographic data relating to a business are the
apparent demographic factors (Bateman et al., 2020). It seems that most 1-800-Flowers’ clients
are gentlemen purchasing flowers as gifts for the women in their lives. On another note,
corporate identity is enhanced by social ideals. Companies with popular products might expect
repeat customers who often bring in new ones. The product offered by 1-800-Flowers.com is
something nearly everyone needs to purchase at some point. People always appreciate a gift,
whether a birthday, an anniversary, or a show of sympathy. In this case, flower arrangements
will always get appreciated.
Conclusion
In conclusion, 1-800-Flowers has performed an outstanding job of expanding to its current size.
The company’s unwavering focus on client satisfaction is only one of many factors that have
propelled them to the top of the floral industry. To maintain its position as an industry leader,
the firm must also offer efficient services and keep pace with technological developments. The
company should also mandate to operate internationally to generate more revenue and profit.
References
Bateman, T. S., Snell, S., & Konopaske, R. (2020). Management. McGraw-Hill Education.
Mill, F. (2020, October 1). 1-800-Flowers.com, Inc. Retrieved from Hoovers Company Records.
Purchase answer to see full
attachment