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Workers Compensation and Risk Management

I need help with the following questions. I need specific details on each question to help me better understand the content and materials as I am having a difficult time with this. Please utilize the references along with outside references (anything to help) in which I have attached when helping to explain the questions' answers using the main article attachment (STRATEGIC EXPLORATION OF SALT INTERNATIONAL COMPANY IN THAILAND: CAN THEY HAVE SUSTAINABLE GROWTH AND PROFITS?) (Explanation of questions estimating roughly 1,000 words will be most sufficient for content understanding)

1. is Salt International competitive currently? Explain.
2. Can Salt International sustain their profitability in the coming four to five years? Discuss why or why not.
3. What have Salt International managers done to make sure their company is successful?
4. How have other firms used outsourcing, differentiation, and low-cost strategies to become successfully globally? Discuss one company or product from each area.
5. Based on a value driven management (VDM) analysis, which of the following strategies would maximize value over time (VOT): outsourcing, differentiation, or a low-cost strategy?
6. Create two other relevant alternatives for the future development of Salt International, and analyze them using the Value Driven Management framework to determine which one provides long-term maximization of value. Recommend the option which maximizes value over time and create an implementation plan.

Please provide a list of references used (articles, websites, etc.) So that I may check them myself. Thank you for any help that you can provide.

Sources:

PEOs Look To Boost Credibility With WC Risk Management Certification
Snashall, Robert R
National Underwriter. P & C; Nov 21, 2005; 109, 44; ProQuest Central
pg. S4

Cos. Bracing for Workers' Comp Hike; Outsourcing Alternative?
Beighley, Dan
Orange County Business Journal; Nov 5-Nov 11, 2007; 30, 45; ProQuest Central
pg. 48

MYTHS & REALITIES OF WORKERS COMPENSATION COST CONTAINMENT
Shafer, Rebecca
Risk Management; Nov 2006; 53, 11; ProQuest Central
pg. 10

Journal of Business Studies Quarterly
2010, Vol. 1, No. 3, pp. 68-81

Solution Preview

1. Is Salt International competitive currently? Explain.

Based on the article Strategic Exploration a company's competitiveness is determined by its strategic planning process. The author of this article meticulously drafts three fundamental components of competitive advantage such as (1) sustainable growth of the company, (2) the company's ability to maintain its competitive position in the marketplace, and (3) the revenue's generated. Many organizations, products, or services dilapidate because they are unable to effectively compete due to the fluidity of a rapidly changing competitive landscape. For example, several years ago, the Blackberry cellular phone was a product that consumers were desperate to obtain, however after the aggressive strategy of Apple products, Blackberry is currently one of the products that may become obsolete in a few years unless Blackberry can revitalize their product to compete in today's technological climate.

2. Can Salt International sustain their profitability in the coming four to five years? Discuss why or why not.

It is my assessment that Salt International is competitive for the reason that the company expands beyond domestic corporate headquarters. The company has various functional divisions in the South Pacific and South East Asian regions (Muensriphu et al, p.69-70). A company that is not competitive may not be compelled to expand corporate operations. A non-competitive company may remain domestic. Salt International's competitive advantage falls within the confines of the aforementioned competitive components such as sustainable growth (the company continues to expand international relations with the United States and other surrounding regions), the company offers a variety of products and services that guarantees a top position in the market, and Salt International expects to generate over $32 million by a specific timeframe.

On page 70, Muensriphu et al, examines the strategy Salt International uses to maintain sustainability such as low cost competitive pricing, value creation to ensure Salt International stands out from the rest of the competition, value chain management, and relationship sales.

3. What have Salt International managers done to make sure their company is successful?

Based on the reading provided, I would assume that market segmentation is a key contributor to Salt's success. Salt evaluates external factors that influence an organizations marketability and profitability. Management would (1) assess current market trends and predict potential market trends based on the results from qualitative and quantitative data. (2) Management would also assess consumer purchasing patterns and popularity of products based on consumer focus groups and/or beta ...

Solution Summary

This problem solution addresses the methods used to create value for an organization. We examine the concepts of what drives value and identify the components of key value drivers.

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