External Assessment of Volta Inc.
External Assesment
1. Social Forces:
1.1 Consumer Behavior:
Have high regard over firms with manufacturing capabilities
Prefer convenience within deals as associated with Supply Chain Management & Logistics capabilities of firms
Are subjugated with price competition (but this does not imply quality is dominated by price; it is merely a fact that firms within bids would be ready to undercut the price competition by lowering their price at a considerable level)
Buying process within larger companies would be in an entirely different perspective and ensure greater return.
1.2 Consumer behavior over pricing
Goods and services sold at a very high amount tend to be bought by credit terms (which can be benefitting with the firm)
1.3 Employees
Employees tend to be more productive if their superiors and management tend to display trust, praise, and commitment
Within Volta, Inc. employee turnover is high according to the readings (because of their low compensation packages). This could be a problem on their part since they need skilled-workers on their end to gain more profit. This rooted from the agenda that they avoid excessive overhead costs.
Pirating may exist
Intellectual Assets are in danger
1.4 Customer Relations
Customers tend to have impressions over services and how firms attend to them. According to the readings, Volta, Inc. has an excellent delivery of services over their market (which is stated as recognized and known). The company’s Customer Relations Management is efficient and effective.
2. Technological Forces:
2.1 Equipment For Electrical Systems
Equipment for electrical systems requires high-end skills to operate. The equipment used also require great capital investment that is why barriers to entry within the industry are high and it is with great difficulty to apply an exit strategy.
Skilled-workers are needed to operate such equipment for product quality is well-observed, maintained, and supervised for safety reasons
1. Social Forces:
1.1 Consumer Behavior:
Have high regard over firms with manufacturing capabilities
Prefer convenience within deals as associated with Supply Chain Management & Logistics capabilities of firms
Are subjugated with price competition (but this does not imply quality is dominated by price; it is merely a fact that firms within bids would be ready to undercut the price competition by lowering their price at a considerable level)
Buying process within larger companies would be in an entirely different perspective and ensure greater return.
1.2 Consumer behavior over pricing
Goods and services sold at a very high amount tend to be bought by credit terms (which can be benefitting with the firm)
1.3 Employees
Employees tend to be more productive if their superiors and management tend to display trust, praise, and commitment
Within Volta, Inc. employee turnover is high according to the readings (because of their low compensation packages). This could be a problem on their part since they need skilled-workers on their end to gain more profit. This rooted from the agenda that they avoid excessive overhead costs.
Pirating may exist
Intellectual Assets are in danger
1.4 Customer Relations
Customers tend to have impressions over services and how firms attend to them. According to the readings, Volta, Inc. has an excellent delivery of services over their market (which is stated as recognized and known). The company’s Customer Relations Management is efficient and effective.
2. Technological Forces:
2.1 Equipment For Electrical Systems
Equipment for electrical systems requires high-end skills to operate. The equipment used also require great capital investment that is why barriers to entry within the industry are high and it is with great difficulty to apply an exit strategy.
Skilled-workers are needed to operate such equipment for product quality is well-observed, maintained, and supervised for safety reasons