Blackmore’s Enterprises Business Environment
Blackmores Limited is an Australian company which has been experiencing enormous profits in the natural health industry. They offer quality products which range from vitamins, herbal supplements, and nutritional supplements to herbal supplements. This company is also involved in support of the community activities and improvement of their surrounding environment. This is actually one of the reasons as to why the company has been able to develop into being a very trusted brand in the industry already (InvestSMART, 2017). The company has also placed a commitment to be delivering natural healthcare commodities plus services and at the same time also be able to meet the highest attainable quality standards that have been set as well. They do this through making sure that they manage the ability to meet the expectations of the customers and just recently in 2016, the company was named as Australia’s trusted brand of the year in vitamin and supplements production(InvestSMART, 2017).Background Information
As a company, Blackmores started over 80 years ago; the pioneer was Maurice Blackmore; the more reason as to why the company also copied the name from the pioneer. The company did possess a naturopathic heritage and did have a greater influence as to the manner in which they do approach the health conditions and the maintenance of wellbeing; they draw the traditional herbs and use them as medicine using their nutritional knowledge (Eberlein et al., 2014, Pp. 26). The company has also stated their commitment to doing research and more innovation; they also focus on reducing their impact on the environment and the community and also look at being a very recognized favored employer.
The company also does offer more than 250 vitamins, nutritional supplements, and herbs which are developed by experts through the use of the highest quality ingredients that are possible around the world. As a generous company, they also do offer their customers a reasonable range of innovative commodities/services inclusive of the free Naturopathic advice which was seen to have reached out to more than 36,000 people. As a company, they also do offer support to their retail partners by providing intense training and better education. As a long term commitment, Blackmores looks at maintaining their environmental and social responsibility which does include getting to partner with the stewards in sustainability.
Internal Business Environment
The company has a well-structured management and is led by a board of directors which is headed by a Chairperson; Marcus C. Blackmore. The board is tasked with the duty to make sure that they get to make decisions regarding the running and the commitments of the business. It is the board that has been given the responsibility to make sure that they get to look at the possibilities of the company making more profits over time and also getting to commit themselves to attaining better standards as times do move by as well. The daily operations of the company are then lead by the Chief Executive Officer, under which the duty is to make sure that the instructions that have been made by the board are then flowing all the way to the bottom employees. This is the management of the company which has held this company together for all this while. The management under Christine Wendy (Chief Executive Officer) has always shown more commitment towards achieving all the goals that the company has set for itself and that over time their target has always been to be one of the best companies that are there in the industry.
The management forms part of one of the best management boards that are there in the market, and that makes it more reliable to the rest of the board and the lower employees. The offices of the Operations Officer is the one that follows in terms of the business operations which is the one that has been tasked with the duty to make sure that the company engages only in activities that promote their dreams and intentions that are there in the market with the times as well. As an office, it is the one that heads all the employees to the company and that all the operations of the company do fall under this office in the company. All the sales and the innovations that have been made over time in this company have all been affiliated with this office.
The office of the company secretary who is also considered to be the director of the corporate affairs. It is also considered to be another top class office in the company. This is because it is the one that has been tasked with the duty to ensure that they make the best relations with financial institutions and also get to promote better relations between the company and any other company that could be present in the market as such. It is the same office that ensures that the company develops better partnerships with other corporations and at the same time sends proposals that could attract better international funding as well.
The company has been committed to also ensuring that their employees are very satisfied with the conditions that they are subjected to and have been able to make more efforts to ensure that they get to showcase their intention by offering the employees bonuses and better pension schemes. They also have a retention plan for the employees. Under this plan, they offer their employees long term contract hence a better guarantee for job security and at the same time the employee see reason as to why they should work hard for the company as they are fully aware that the company will in return also appreciate them as well.
Natural forces: The Company relies on the natural environment to be able to make their regular productions to the market. That is the more reason as to why they have always gone ahead to make sure that they get to conserve the natural environment so that their resources do not deplete. With the increasing population and increased housing demands, the forest areas are depleting slowly hence reducing the total amount of resources that the company can be able to rely on to make their productions as such.
Technological Factors: With the productions demand, the company has been committed to making sure that they get to use the latest technology that is possible in the market. The company relies on the latest grinders to crash the barks of trees and resources that they find and also make sure that they get to attain the highest technological standards possible in the market as such.
Social and cultural forces: The Australian’s belief in the natural environment is something that has always played as a great advantage to the company. The consumption rate of the herbs is higher because the people have had past experiences with these commodities previously and act as a better advantage to the same as well. As a well-established company, they have relied on these cultures to ensure that they maintain their sales on the high end.Micro- Environment
Blackmores has a very reliable supplier’s base that supplies them with the right products that they use to reach out to their market. As a company, they have been committed to making sure that they get to offer the market with the best commodities and this is only possible when one has a reliable supplier base (Blackmores.com.au, 2017). They always make sure that they get to attain the same market in the best possible manner through making quality products from quality materials as well. It is something that the market has the capability to ensure that they get to attain and is also able to maintain their production from time to time. The main suppliers that the company has relied upon over time include:
- RC Giber
- Lipa Pharmaceuticals Limited
- Nutricorp International
- Bega Cheese Limited and Essence Group
- Power Plastics Pty Limited
Several other suppliers deal with the company, but then these are the major suppliers. As a reliable company, they have placed a commitment to be paying their suppliers in time and also ensuring that the same suppliers also make deliveries in time as well. This is one big reason as to why the company stands out among many (Blackmores.com.au, 2017).
The company does face very stiff competition in the industry whereas more of the competition that they face is from the other medicine companies which are non-herbal. The main advantage that they also run in the same market is the fact that there are very few companies in the Australian market that offer the same commodities as they do (Hunter et al., 2015, Pp. 32-43). A majority of the companies that produce the same commodities are involved in the small-scale production and thus do not have the advantage of extending their roots better in the same market as well. In most cases, companies normally get to associate better with a market when the market has not been well exploited, and in this case, it is the same situation that has been presented to the company (InvestSMART, 2017). They are in a fresh market where the main competition that they suffer does not come from similar commodities as their but rather just from companies that produce the non-natural drugs. As a competitive advantage over the other companies, Blackmores gives a guarantee as to offering the best quality in the market and has also been able to maintain their customer loyalty over the times as well. It is one thing that puts them at the top of the market over the rest of the companies that are existent in the same market as well. The market needs nothing more other than quality for themselves, and it is indeed the same thing that this company has committed to offering them hence very probable that they will continue to have strong grounds in the same market even as the times move as such.
Blackmore has a well-performing market cap which almost doubles their nearest competitors. They have a $1.80 billion market cap while their closest competitor in the market comes at $61.05 million (Auscam Limited). This is a clear show that they have set their advantage and better performance at the very top such that the competitors are not even in close competition with the same company.
The General Public
Companies always have the duty to make sure that the general public is satisfied with their activities (Briggs, 2015, Pp. 21-32). They even engage in community service as a form of corporate social responsibility to be able to reach out to the market better and make the market have more faith in them as well. Blackmores has always made sure that they have the best relations with the public such that they stand a better chance to be able to reach out to the market and also have more acceptance coming from the same market as well. In this case, they have come up with some activities for the community such that the community has had no other option but being receptive to the company. The company sets out to ensure that the general public maintains a positive view of them and thus work harder to make sure that they maintain the same reputation in the market as such.
As a company, this is merely one of the best in Australia. They have always worked harder to make sure that they get to attain the best sales that are possible as well. Being that they have been in existence for over 80 years is a show that the company is one that is committed to ensuring quality is rendered to the consumers and that they are also able to attain better relations to the same market as well (InvestSMART, 2017). They have made great steps to arrive at where the company is hence convincing that the company has a better market share that the competitors present. The company also looks beyond Australia for a possible market that they could also explore thus the more reason as to why they have made more effort on social media marketing.