Finance Group Project Presentation
Transcript: Accounting for Business Group Project (LT10) Legal Factors Economic Factors Technological Factors Compliance with safety standards and regulations, including testing and labelling requirements, is mandatory. This includes adherence to laws concerning the use of potentially harmful substances. Economic factors influence the sale of personal care products as economic downturns can lead to reduced consumer spending on non-essential personal care products, while economic booms can increase demand. Advance technology lead to new product formulations, improved ingredients, and innovative packaging solutions. Technology also enables better consumer engagement through digital marketing and e-commerce platforms. Analyzing Sector Performance and Company Details Environmental Factors Understanding the Business Environment: PESTEL Analysis • There is increasing consumer demand for environmentally friendly and sustainable products. Companies are pressured to adopt eco-friendly practices, such as reducing plastic use and sourcing renewable ingredients. • Regulations regarding packaging waste and chemical usage influence how products are developed and marketed. PESTEL Analysis is a strategic tool to understand the external macro-environmental factors affecting a business. PESTEL stands for- Political, Economic, Social, Technological, Environmental, Legal. Here is a PESTEL analysis of the personal sector: Social Factors Nowadays, increase in awareness of health and wellness is also leading to increase in demand for natural and organic personal care products by which preferences for personal care products is gradually increasing Political Factors • Political aspect of personal sector is government regulations regarding consumer healthcare, hygiene which impact personal care products provided by the company. • Governments also impose regulations on the ingredients used in personal care products, safety standards, and advertising practices. Company Names Overview Personal Care Sector It is imperative to provide an overview of the company names involved in the Finance Group project to understand the diversity of the analyzed sector. Kimberly clerk (VAISHNAVI SINGH) Marico (AYUSHI SAXENA) VLCC (YASHI TRIPATHI) Shiseido (SHRUTI PRIYA) Emami (ARYAN TIWARI) Johnson & Johnson (ABHINAV SINGH) Mama Earth (RISHABH PANDEY) Enhanced Market Positioning Diversification Strategy Technological Integration Explore new market opportunities and diversify product/service offerings to reduce risk and increase revenue streams. Strengthen market positioning through targeted marketing campaigns and brand enhancement initiatives. Embrace technological advancements to streamline operations and enhance customer experience. Optimization of Resources Risk Management Strategies Continuous Improvement Culture Develop comprehensive risk management strategies to mitigate potential threats and safeguard project sustainability. Foster a culture of continuous improvement to adapt to market dynamics and drive innovation within the project. Optimize Cost Management Efficiently utilize resources and optimize processes to maximize productivity and achieve project goals. Implement cost-saving measures to improve profitability and efficiency. Innovative Growth Strategies Explore innovative growth strategies such as partnerships and acquisitions to expand market presence and drive revenue growth. Sustainability Initiatives Strategic Recommendations for Project Integrate sustainability initiatives into business operations to contribute to social responsibility and long-term resilience. Recommendations Marico business forecasting should reveal that in 2024, the income and the net profit will continue to decline and by reducing the focus on income and looking at other sources for additional revenue such as product differentiation or extension of the markets. Other ways include firm narrowing its losses, enhancing cost control or increasing operating efficiency to make margins more stable. Also, using its sound equity base for strategic investments might have further expansionary potential in the future. Key strategic recommendations to enhance project performance and outcomes based on the analysis findings. Customer-Centric Approach Adopt a customer-centric approach to enhance customer satisfaction and loyalty, driving long-term success. Recommendations Asset Utilization: Ensure efficient use of current assets and plan for future investments in fixed assets to maintain operational capacity. Revenue Growth: With a projected 20%+ revenue growth, invest in expanding production, marketing, and exploring new markets to sustain this momentum. Profitability: Continue improving cost management to maintain and enhance profit margins, building on the recent turnaround in profitability. Volume Growth: Leverage the 35% volume growth by ensuring the supply chain can support increased demand without compromising quality. TREND ANALYSIS (BALANCE SHEET) Johnson & Johnson Johnson &
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