New Science Company’s Success in the Global Economy

Introduction

An aggressive increase in sales through active global market penetration is often seen as a rather risky strategy to take, yet, for an organization with a significant competitive advantage that is ready to enter the global economy, the described approach is likely to have a positive effect. In New Science’s case, the company’s current chances for succeeding in the global economy can be improved by reconsidering the model that made it successful in the first place and considering the creation of a new framework for increasing the number of subscriptions.

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While New Science has been quite successful in its target market for several years, the current approach toward the management of sales could use several changes. The transfer to the digital environment will help the organization to remain relevant and appeal to a wider demographic, simultaneously creating an elaborate customer segmentation framework. Therefore, the main problem of New Science is the inability to redesign the sales management framework and adapt it to new market conditions that require the application of digital tools. Specifically, the reorganization of team management, workflow, and sales goals, as well as the creation of new dynamics within the company and its teams, should be seen as crucial problems.

Main body

The key alternatives that New Science presently has as the method of addressing the issue at hand is inside sales. The proposed technique is believed to target the greatest number of potential customers, thus making the sales increase. Indeed, when viewing the notion of inside sales from the described perspective, one will realize that it does provide additional opportunities for capturing the global market and catering to the needs of a more significant number of potential buyers. However, there are several issues that inside sales fail to address, the need to focus on innovation is the primary one. It is essential for New Science to remain relevant and keep its quality standards high, which will require an elaborate talent management framework and a well-thought-out quality management approach. Therefore, it is doubtful that the selected strategy alone will allow achieving the set goals. A strategy based on the concept of innovativeness, digital marketing, and customer-oriented service will be needed along with the selected approach.

There are several key alternatives that the company may consider in order to build its competitive advantage. Incentivizing staff members to deliver more effective and impressive performance is one of the potential solutions to the situation. Alternatively, the organization may invest in a marketing campaign that will position it in the most favorable way possible to attract the attention of potential investors and buyers. Changing the current approach toward communication with its stakeholders is one more solution that will enable the firm to improve the quality of its product and the number of its clients. However, the focus on innovativeness as the key organizational value will allow New Science to attain all of the described goals with a single yet profound change.

Conclusion

New Science has seen a rapid increase in its profit margins after the introduction of a subscription-based model, yet, to deliver the performance of the same extent in the current economic setting, the firm will need to revisit its performance management and create a new competitive advantage. For this reason, the concept of innovation has to be introduced into its context so that the company could draw the attention of potential buyers, investors, and partners. With a rebranded image and set of products, New Science will retain its clientele, at the same time attracting new customers.

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StudyCorgi. (2021, July 27). New Science Company’s Success in the Global Economy. Retrieved from https://studycorgi.com/new-science-companys-success-in-the-global-economy/

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"New Science Company’s Success in the Global Economy." StudyCorgi, 27 July 2021, studycorgi.com/new-science-companys-success-in-the-global-economy/.

1. StudyCorgi. "New Science Company’s Success in the Global Economy." July 27, 2021. https://studycorgi.com/new-science-companys-success-in-the-global-economy/.


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StudyCorgi. "New Science Company’s Success in the Global Economy." July 27, 2021. https://studycorgi.com/new-science-companys-success-in-the-global-economy/.

References

StudyCorgi. 2021. "New Science Company’s Success in the Global Economy." July 27, 2021. https://studycorgi.com/new-science-companys-success-in-the-global-economy/.

References

StudyCorgi. (2021) 'New Science Company’s Success in the Global Economy'. 27 July.

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