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Summary of Sangkaya competitive analysis - Coggle Diagram
Summary of Sangkaya competitive analysis
Founded by Michael Mok in 2014
Decade-long presence in the market
Plans for expansion and new product additions
Utilizing Porter's Five Forces Framework
Present rivalries
Complementary and substitute goods
New entrants
Suppliers
Customers
Location and Operations
Vivacity Megamall, Kuching
Day-to-day operations and responsibilities
Manager: Lee San San
Challenges faced
Intense competition within the same mall
Focus on authentic and quality ice cream
Challenges posed by more affordable and accessible substitutes
Speed
Maximizing speed to market
Adaptability to market shifts
Importance of being a "first mover"
Enhancing consumer demand and loyalty through swift responses
Recommendations on
Key Management Practices
Culture
Path Goal theory and leadership impact
Strategies for cultivating a healthy culture
Importance of healthy communication and work culture
Strategy
Market survey and trend anticipation
Introduction of seasonal and limited edition products
Embracing sustainability and social responsibility
Challenges in keeping up with changing consumer preferences
Conclusion
Criticality of adjusting to shifting customer needs
Challenges and opportunities for Sangkaya
Prioritizing speed and organizational culture for sustained success
Strategic recommendations for thriving in a dynamic market