Read the attached file, write the conclusion
Recommendation should be related to issues
Recommendation should be like problem > root cause > solution.
Read the attached file, write the conclusion Recommendation should be related to issues Recommendation should be like problem > root cause > solution.
Introduction Providing cutting-edge technology to the automotive sectors on a global scale is Exco Technologies Limited (Exco Technologies Limited, n.d.). The interior of vehicles is designed, developed, and produced by Exco Limited Company. Their primary operating bases are in Canada, the USA, Mexico, and Morocco. Additionally, they have established their operational divisions that offer all the technology to the rest of the world and North America. Another division of this corporation is into two distinct business divisions. Both the casting and extrusion segment and the automotive industry are covered by separate segments (Exco Technologies Limited, n.d.). Exco Technologies Limited’s primary goal is to grow their company through lowering production costs and processing times. Exco technologies are renowned for their superior equipment life and overall performance. Two of the major vendors to the sectors are Neocon and AFX. Providing cutting-edge technology to the automotive sectors on a global scale is Exco Technologies Limited (Exco Technologies Limited, n.d.). This essay discusses the exco company’s mission, objectives, strategic planning, culture, legal structure, SWOT analysis, and PESTLE analysis. It also provides an organizational chart and a position map. This assignment is going to research this company in detail, including how its environment functions, its relationships with stakeholders, and its current position in the market. It will also discuss how the company’s competitive advantage, supply chain management system, and organizational structure affect its ability to pursue its mission and strategies. Background Description of the organization: Herbert Henry Robbins created the Exco Technologies Limited Company, which commenced operations in 1952. The business first operated as a machine shop before transitioning, over time, to the production of aluminum extrusion dies for Canadian aluminum extruders. Over time, this company evolved from a family-run store to a manufacturer of tools. The business increased operations and production facilities in England, France, Germany, and Australia in 1960. (2006 Annual information Form, 2006). After H.H. Robbins passed away, his son was became the company’s CEO. They sold off all of its overseas operations as part of their strategic planning in order to concentrate only on the Canadian market and maximize growth there. In 1986, the corporation began marketing the IPO. The company’s portfolio of goods grew, and they started working in other sectors of the economy in addition to manufacturing military weapons. The business eventually shut down its section in 1993. The new factory exco engineering marked the beginning of the company’s expansion. The corporation has tripled in size during 1997–1998 thanks to the addition of this factory. The design and assembly of interior parts for passenger and light truck vehicles were restricted by exco technology. The nations where they have established their operating units that provide all the technology to North America and the rest of the world include Canada, the USA, Mexico, and Morocco. n.d. (Exco Technologies Limited). There are two distinct divisions within this corporation. Both the casting and extrusion segment and the automotive industry are covered by separate segments (Exco Technologies Limited, n.d.). Exco Technologies Limited’s primary goal is to grow their business by lowering their production costs and leading times. Exco technologies are renowned for their superior equipment life and overall performance. Mission and vision statements Mission Statement The exco technologies limited is knowledgeable about the important things that they are carrying out in their purpose and business. “We enhance the aesthetics and usefulness of passenger cars and tool up light metal industries for optimum performance,” reads a company’s mission statement. It is also true that they produce tools for the metal industries and technology for passenger cars. Additionally, some businesses mention things in their mission statements that are completely at odds with the job that they really do. The company’s one division produces consumable components for society as well as tools for die-casting and extrusion. Additionally, several of the locations of exco technologies limited corporation are used for the global automobile industries’ manufacture (Exco Technologies Limited, n.d.). The goal of business is to lower production costs and processing times. Exco Technologies Limited has been active in the consumables industry for a while. They developed a solid reputation and significantly improved at producing a high-quality product. They periodically started launching new projects, which helped to further cut costs and shorten lead times. A different division of the business concentrates on creating and developing technology for the automobile sector. The business describes its two divisions, polytechnic and polyresin, which produce the technology and products for its cars, including rims, brakes, headrests, seat coverings, and a variety of other items (Exco Technologies Limited, n.d.). Because they emphasize improving the functioning of the passenger cars, the entire project is centered on the mission statement. The company’s two primary suppliers are Neocon and AFX, who supply all of the raw materials needed for further manufacture. Vision statement Exco Technologies Limited is a business with the goal of influencing human civilisation via the creation of cutting-edge goods. In the present business climate, corporations search for chances that set their goods apart from those of their rivals. The level of competition in the globe is rising, and businesses must offer more comparative advantages in order to thrive. Being the benchmark for innovation, efficiency, and quality in the sectors we service is the exco technology limited vision (Exco Technologies Limited, n.d.). The firm Exco Technologies Limited has a number of measures in place to boost revenue and growth that is sustainable. They are also enhancing their position and leadership in the technology business. Their main goal is to reduce their cost structure. They are evolving to match their former level of operational innovation and efficiency. As a Canadian firm, the company’s biggest customer base is in North America. Since the start of the 2019 fiscal year, the company’s car sales have decreased in a number of different ways. In a nutshell, they also produce passenger vehicles and light trucks, which are selling at a lower rate because to fierce rivalry from rival brands. When compared to the present, their automobile sales were strong a few years ago. Low borrowing rates, inexpensive gas, and fierce market rivalry are the causes of this. Automobiles invest their money in the creation of clean-air, fuel-efficient equipment, which spurs innovation at the automaker. Exco Technology Limited manufactures components, technologies, and tools for both the consumer market and the automotive sector. these technologies must fulfil the requirements of the vehicle they will be installed in. The advancements made by a firm create significant prospects for the creation of interior trim and the tooling industry. Exco is moving in the direction of their clients’ efficiency, creativity, and quality. Current employee composition: There are two sections to the exco technologies limited. Casting and extrusion are dealt with under the second division, which deals with automotive solutions. The organizational chart is essential in the modern workplace because it enables employees and new hires to understand their place within the company. Additionally, this would clarify to whom employees should report. The CEO of the Exco Technologies Limited is in direct contact with four other people through downward communication channels. The complexity of this organizational chart is minimal. There would be additional branches on the charts, such as geographically, even if they trade worldwide (Exco Technologies, n.d.). Exco Technologies Limited organizational structure is shown below. (Exco Technologies, n.d.) The organisational chart has several significant aspects since it aids Exco Technologies Limited in managing their workload. The accompanying graphic makes it clear that the CFO and secretary are in charge of all decisions pertaining to the company’s finances. It makes it easier for new employees to interact with their coworkers. Exco Technologies Limited is able to plan more effectively because of the organisational chart since they can see from it which people the firm requires for their initiatives. Organisational design and structure: Organisation’s design: The international exco technology firm. They also require a framework that is appropriate for dealing internationally. Different countries have different political and social elements. When operating abroad, some businesses had issues with their organisational structure. For instance, Walmart failed in Germany because it conducted business the same way it did in the United States and Canada. Additionally, it is not always possible for buildings that are appropriate in North and South America to also be appropriate in European nations. The exco technologies limited investigates and assesses new issues they encounter in the different nations in which they conduct business, and then they find solutions. If you don’t comply, your company will have to stop doing business in that nation. Because there are so few raw material suppliers and because the firm wishes to maintain a consistent level of quality, the exco company is using a centralised buying strategy. There would be less product duplication as a result (Jones, Mills, Weatherbee, & Helms Mills, 2006). Additionally, it is challenging for the company to locate comparable material in other nations. Additionally, the corporation paid less since it ordered in volume. The exco limited adhere to a framework that combines both organic and mechanical elements. Because a corporation operates abroad and the environments in the other nations are likewise distinct, they cannot become entirely mechanical. They require some latitude in certain areas. Additionally, since the exco deals in foreign currency, they have to use local currency, such as the dollar or the equivalent. In certain nations, the transaction is haggled over in local money. Exco Technologies Limited has offices mostly throughout North and South America. In comparison to other nations, their product production would result in reduced prices on environmental aspects (Exco Technologies Limited, n.d.). When choosing the right positions for the right people, the organization’s design is crucial. The fact that all of the company’s resources are substantial is its competitive advantage. They have human resources, which is one factor that sets them apart. The company’s constant goal is to improve the capacity of the enterprise. Exco Technologies Limited focuses on providing training and enhancing the productivity of both their staff and the company as a whole. The difficulty in organisational design is balancing the centralised and decentralised, differentiation and integration, standardisation and mutual adjustment, as well as balancing differentiation and integration (Jones, Mills, Weatherbee, & Helms Mills, 2006). Additionally, Exco Technologies Limited strives to create these phrases with the shortest gap possible. because businesses are unable to eradicate it from society. Exco Technologies Limited has effectively put into practise its organisational structure, supply chain management framework, and vision. The goal of organisational structure is to provide a framework that will enable the company to overcome all of its challenges. There are several routes for information to go from one level of the firm to another at Exco Technologies Limited. All businesses mostly employ the centralised technique, and exco also employs it for communication within the exco technologies limited organisation. 2020 (Kenton). All firm operations must be managed by the organisational structure in order for the organisation to achieve its objectives. The organisational structure of Exco Technologies Limited enhances the effectiveness and efficiency of the business. Additionally, it instructs staff members on how to work more productively and in the most effective manner. The exco firm is divided into several divisions. The exco corporation chooses its leaders depending on its projects, products, and geographic regions. A matrix is one of the typical organisational frameworks that businesses utilise. Exco Technology Limited has a dynamic work environment, thus a group of certain employees report to both the sales and customer service supervisors. Characteristics of the culture of the organization: The exco technologies limited must cope with both the cultural and legal changes that many nations impose on them. Everything around us, including the formal and informal business regulations, is part of the culture. The business hasn’t said much about its corporate culture. Additionally, they follow rituals, dress requirements, standards, and ideals. Exco Technologies Limited is subject to several limitations due to its global operations. Because of the increased resource emigration brought on by the economic challenges, there exist tariffs and constructive responsibilities. They have to fulfil their commitment. Exco Technologies is a business with significant capital and little liability. In addition, they are legally distinct from their originator. Stakeholders Because it helps the business develop stakeholder trust, organisational relationships are essential for all organisations. In the future, it makes their task simpler. When anything goes wrong, a company’s relationship may be in jeopardy. Consumers, suppliers, investors, workers, rivals, and a government agency are the company’s main stakeholders. The organization’s activities, services, and accomplishments all have an impact on them. Some stakeholder expectations vary depending on the stakeholder. Principal Interest Groups This Group’s Demands on the Organization How the Organization Found Out About These Rules 1. Clients 1. superiority and competitive edge 1. Surveys and market research 2. personnel 2. stable employment, competitive salary, and career advancement. 2. Complaint boxes, seminars, surveys, and conversations with the staff. 3. public 3. Supporting employment, environmental sustainability, and programs for health and education 3. A thorough examination of sustainability by researchers 4. Government 4. The business will act morally and lawfully 4. the department of law and government regulation Exco Technologies Limited’s healthcare suppliers were governed by NCBI. Exco Technologies Limited receives supplies from companies including AFX, Polytech, Polydesign, and Neocon (Exco Technologies Limited, n.d.). Meeting is the most typical form of communication between two parties. Additionally, the exco technologies limited liked to interact with the vendors in person. AFX and Neocon are the company’s most crucial suppliers. because they give the exco technologies limited corporation the majority of its raw materials. There is no parent organisation that owns The Exco Technologies Limited. Comparative benefits: Exco Technologies Limited is a top supplier of automotive components to business. They intend to improve the quality of the automotive parts for the automobiles while focusing on reducing processing time. They are a fierce competitor in the market because of their distinctive distribution model and strong stakeholder relationships. Exco Technologies Limited succeeds in building a stable business and expanding its market share. In the automotive and technological markets, they are enhancing their position of dominance and competitiveness. Their goal is to reduce the cost of their method. They aim to manage their large producing capacity in accordance with the demands of their clients. Additionally, new goods and services provide them greater power and competitive advantages (Exco Technologies Limited, n.d.). The exco technologies firm also has the best free cash flow in its sector. It enables Exco Technology Limited to demonstrate the retained earnings that will assist in luring new investors to the business. The business dominates various markets in addition to the native Canadian market (Wolf, 2019). The casting and extrusion produced there draw in a large market. Additionally, they have years of expertise in the field, giving them a comparative advantage over their rivals. The industry requires more money and runs a significant risk of having entrance obstacles. Having operated for many years, this firm has some protection. The organisation has established a number of relationships and trust with suppliers all around the world, which aids in their complexity and globalisation. There is more stability with Exco Technologies Limited. The corporation is the parent company of several brands, including AFX, Castool, and many more. It lessens their debt obligation. The business is expanding organically both domestically and internationally. By doing so, they become the industry’s top competitors and strengthen the Canadian economy (Wolf, 2019). Current problems As many people who can see a wildfire know, the hazards associated with the changing environment are enormous. Reduced raw materials as a result of COVID-19. due to the global business, there will be currency fluctuations. tariffs and trade restrictions imposed by some nations. Due to the severe restrictions of the nation, currently unprofitable enterprises need to be made more sustainable in another region of the world. 8. Chances for Exco Limited Opportunities Businesses constantly search for market prospects for product expansion or new product introduction. One of the primary prospects for Exco Technology Limited is the expanding expansion of the automotive and tooling industries. Another benefit of operating in this sector of the economy is that it is generally growing. Because FDI is advantageous to both the nation and a firm, the government of the country supports it. The nation begins collecting taxes from overseas companies, and as a result, the unemployment rate decreases. The market’s consumer buying power is rising as a result of the 2008–2009 recession. For the new market, Exco Technology Limited has a distinct pricing approach. The business has just implemented new environmental practises that have elevated it above its rivals in the market. Increasing the internet sales channel is another chance. Exco Technology Limited is able to invest in new goods and technologies because to its steady cash flow. This benefits the restricted-use exco technologies for product categories. 10 &11: Last but not least, Exco Limited has excellent stakeholder relations. The success of the firm is entirely dependent on the confidence of its stakeholders. There is an emphasis on cutting processing costs and boosting product innovation. The user may purchase vehicle components from Exco Technologies Limited. The CEO can be reached directly by four people. They provide the CEO all the information. Additionally, there are two business segments. A corporation has to concentrate on the expansion possibilities in both the domestic and international markets. The customer, suppliers, government, public, and investors were all impacted by the Exco technologies limited company’s activities, services, and success. The interior of vehicles is designed, developed, and produced by Exco Limited Company. Sales are anticipated to be 71.0 million dollars, while profits per share will be 0.02 dollars (Exco Results for Third Quarter Ended June 30, 2020, n.d.). Tariffs and trade restrictions imposed by some nations are the principal obstacles to future business expansion. In the automotive and tooling sectors, KTH Parts Industries and Novares Company are two of exco Limited’s primary rivals (Exco Technologies, n.d.). Due to their significant investments in the startups’ businesses, the exco would anticipate increasing their growth. The exco has a good career in the field and fiercely competes with its rivals. Furthermore, their reporting system needs to be more transparent. Lower-level or slow-moving merchandise is viewed as being of little value to the company. Additionally, they began recognising all those inventory in the company for improved outcomes with the new modifications and enhancements in the organisational structure. Organizational structure and operational management are intertwined in some way. When a firm’s organisational structure is in trouble, the operation management of the company will eventually suffer as well. Since the contemporary environment is so dynamic and businesses need both sophisticated and simple structures at the same time, Exco Technologies Limited needed both mechanical and organic structures. Due of their global operations, Exco Technologies Limited is unable to entirely decentralise or centralise its organisational structure. They require a blend of it. Businesses are currently changing their organisational structures to blend and balance it simultaneously. Businesses can have difficulties as a result of organisational structure imbalances. Overall, the company’s goal has been successfully pursued as a result of supply chain management and organisation theory. If the exco technologies corporation managed its job effectively and efficiently, they would succeed. The business adheres to its long-term goal-achieving strategy, vision, and purpose. A corporation needs to do a lot better when it comes to investing in new technology. In order to reduce the delay the firm is facing, they also need to manage its supply chain more effectively. Because of the fierce rivalry, they must increase consumer trust. The globe is dynamic, thus they need to conduct more global research. Additionally, it is necessary to take care of all the crucial elements; otherwise, the exco might sustain severe losses. For businesses to be attractive on the global market, they must get involved in social issues. Additionally, it will inevitably boost the business’s reputation over time. References Exco Results for Third Quarter Ended June 30, 2020. (n.d.). Retrieved from excocorp: https://www.excocorp.com/2020/07/29/exco-results-for-third-quarter-ended-june-30-2020/ Exco Technologies. (n.d.). Retrieved from theofficialboard: https://www.theofficialboard.com/org-chart/exco-technologies Exco Technologies. (n.d.). Retrieved from zoominfo: https://www.zoominfo.com/c/exco-technologies-limited/13598878 Exco Technologies. (n.d.). Retrieved from theofficialboard: https://www.theofficialboard.com/org-chart/exco-technologies Exco Technologies Limited. (n.d.). Retrieved from excocorp: https://www.excocorp.com/ Exco Technologies Limited. (n.d.). Retrieved from annualreports: https://www.annualreports.com/Company/exco-technologies-limited Exco Technologies Limited. (n.d.). Retrieved from excocorp: https://www.excocorp.com/leadership/mission/ Jones, G. R., Mills, A. J., Weatherbee, T. G., & Helms Mills, J. (2006). Organizational theory, Design and Change. Toronto: Pearson Education Canada. Kenton, W. (2021, July 31). Organizational Structure. Retrieved from investopedia: https://www.investopedia.com/terms/o/organizational-structure.asp Wolf, C. (2019, January 28). INTRINSIC VALUE ASSESSMENT OF EXCO TECHNOLOGIES LTD. (XTC). Retrieved from theinvestorspodcast: https://www.theinvestorspodcast.com/intrinsic-value/exco-technologies-ltd-xtc/