doi: 10.62486/agma202429
ORIGINAL
Analysis of the strategic plan for the Acuña Ventures SAS company in Yopal city, Colombia
Análisis de la planeación estratégica para la empresa Acuña Ventures SAS de la ciudad de Yopal, Colombia
Girlian Aylin Mendoza Ramirez1 *, Magda Yuriza Riscanevo Murillo1 *, Paula Juliana Chaparro Valderrama1 *, Marly Liceth Patiño1 *, Yesica Jazmín Rodríguez Mora1 *
1Universidad de Pamplona. Colombia.
Cite as: Mendoza Ramirez GA, Riscanevo Murillo MY, Chaparro Valderrama PY, Liceth Patiño M, Rodríguez Mora YJ. Analysis of the strategic plan for the Acuña Ventures SAS Company in Yopal City-Colombia. AG Managment 2024; 2:29. https://doi.org/10.62486/agma202429
Submitted: 10-11-2023 Revised: 03-02-2024 Accepted: 07-07-2024 Published: 08-07-2024
Editor: Misael
Ron 
ABSTRACT
Nowadays, companies develop strategic plans for making the right decisions, focused on organizational goals and continuous improvement. The present work was carried out in order to analyze the strategic plan for the company Acuña Ventures SAS in the city of Yopal through the positivist methodology, quantitative approach, descriptive design from the application of a Likert-type survey to 5 workers in the administrative area of the company under study, this information allowed consolidating the development of matrices such as DIAMANTE DE PORTER, MEFE, MEFI, IE, DOFA, PEYEA, MICMAC, then the management tool Balanced Scorecard was implemented. In the analysis of the matrices, strategies for internal development, market development and market penetration are identified, focused on the improvement of internal processes, growth and expansion of the company Acuña Ventures SAS.
Keywords: Strategies; Continuous Improvement; Organizational Goals; Planning.
RESUMEN
Hoy en día las empresas desarrollan planes estratégicos para la toma de decisiones correctas, enfocadas en las metas organizacionales y el mejoramiento continuo. El presente trabajo se realizó con el fin de analizar el plan estratégico para la Empresa Acuña Ventures SAS de la ciudad de Yopal; mediante la metodología positivista, enfoque cuantitativo, diseño descriptivo a partir de la aplicación de una encuesta tipo Likert a 9 trabajadores del área administrativa de la empresa de estudio, esta información permitió consolidar el desarrollo de matrices como, DIAMANTE DE PORTER, MEFE, MEFI, IE, DOFA, PEYEA MICMAC, posteriormente se implementó la herramienta de gestión Balanced Scorecard. En el análisis de las matrices se identificaron estrategias, de desarrollo interno, desarrollo de mercados y penetración de mercados, enfocadas al mejoramiento de procesos internos, crecimiento y expansión de la empresa Acuña Ventures SAS.
Palabras claves: Estrategias; Mejoramiento Continuo; Metas Organizacionales; Planificación.
INTRODUCTION
The commercial sector in Colombia comprises companies engaged in selling, marketing, and distributing products, among which the kitchenware marketers stand out. In 2021, of the total gross production ($86,0 billion), the largest share was held by wholesale trade with 59,4 %, followed by retail trade with a share of 30,9 %.(1) This sector is part of the Colombian Direct Selling Association. This non-profit organization brings together the main direct-selling companies, such as Avon, Natura, and Royal Prestige.(2) The Colombian Direct Selling Association (Acovedi) presented its annual report of operations over the past year, which shows a growth of 14,5 % compared to 2020.(3)
Acuña Ventures S.A.S.S.A.S. sells, markets, and distributes high-end kitchenware. In the development of its activities, there have been unexpected events, such as the cancellation of different orders due to the lack of organization, planning, and execution of a work plan, which can create problems in fulfilling the company’s objectives. It is important to solve these situations since they affect sales volume and customer loyalty. To find a solution to these events, it was proposed that the organization’s strategic plan be analyzed to determine the different aspects that need improvement. The challenges faced by companies in the execution of their strategic plan and decision-making prevent them from achieving their goals and objectives. This work is done because currently, the company is affected in the implementation of the strategic guidelines, the above due to different aspects such as the delay in the initial service for product delivery, poor performance of employees, poor advice from customers, among others, which directly affect the achievement of goals, now well, with this we want to perform an analysis of the strategic plan implemented by the company Acuña Venture S.A.S.S.A.S., which will allow us to identify the strategies of greatest impact to promote the growth and strengthening of the organization, also, increase sales of products marketed and distributed by the company. According to the above, the objective of the monograph is to analyze the strategic plan for the company Acuña Ventures S.A.S.S.A.S. of the city of Yopal.
In this order of ideas, De Vicuña(4) presents the elaboration of a strategic plan as a puzzle in which we create the pieces that we then place in a way that makes sense and coherence. Gonzalez(5) states that the qualities of the entrepreneur must be strengths so that the strategic plan’s beginning is effective and there is continuous improvement over time. In this regard, Alvarez(6) explains the strategic plan as the ability to gather and direct forces to achieve a company’s goals, surpassing the plan of the competition. According to Pincay & Silva(7), a strategic plan is a tool that helps microenterprises achieve short and long-term goals through well-defined steps and instructions that support managers in making assertive decisions for each area or department of the company. On the other hand, Lema(8) mentions the competitive strategic plan with business approaches and initiatives that are carried out to attract customers and meet their expectations in resisting competitive pressures and strengthening its market position.
In order to analyze the strategic plan, it is necessary to define a series of variables and tools. To understand it, Quiroa(9) mentions that we must identify and evaluate all external factors, such as events, situations, and trends, that affect its execution and that cannot be controlled. Similarly, Martínez(10) mentions that external factors are those situations in which the organization has no influence, such as state regulations, competition, and macroeconomic conditions. However, dealing with the external factors that drive decision-making aimed at the growth of the company means talking about economic, social, political, and technological factors since they can influence the decision-making process.(11) Finally, Yánez & Pazmiño(12) remind us of starting from the external environment where the company or organization conducts its business activities. This business environment is divided into two, the macro-environment and the micro-environment, where economic, technological, political-legal, natural, demographic, and socio-cultural factors are found, fundamental aspects that must be examined when the organization decides to diagnose its business.
The internal analysis studies the characteristics of the factors, resources, means, capabilities, and skills available to the organization to deal with all the situations that arise in the environment, which can be general or specific.(13) This diagnosis can be made using techniques such as corporate identity analysis, strategic profile, value chain, and analysis of resources and opportunities; the Inter-American Institute for Cooperation on Agriculture states that we must look inside the organization to determine which of its resources and capabilities are its strengths and which are its weaknesses. It is important to mention that strengths are areas where the organization has an advantage over the competition. Moreover, weaknesses consist of those places where the company is vulnerable to competition.
For the analysis of these factors of a company, according to Fred(14), there are matrix-type tools that allow the identification of internal and external variables in the organization, and by crossing them, it is possible to identify the factors that influence the organization. Fred(14) also explains that the best diagnostic matrix is the one that allows us to apply it adequately and objectively to the organization, evaluating and measuring each of the fundamental success factors and taking into account each of the hierarchical levels and each of their functional areas.
On the other hand, Martinez(10) presents data structures to obtain information about itself regarding processes, information management, organizational structure, and the context in which it operates, analyzing strengths and weaknesses and allowing us to determine its status about the competition.
Among the matrix-type tools, we find Porter’s diamond as a model that allows us to specify the factors determining whether a company is more competitive. It is also through these factors that business success will be achieved.(15) Similarly, Porter’s Diamond Model suggests that the national base in an organization plays a fundamental role in creating effective advantages on a global scale.(16)
We also find the External Factor Evaluation Matrix (E.F.E.M.), a tool used to evaluate the current strategies of the company and the implementation of new tactics in organizations to know and avoid certain threats that may arise. It also allows us to take advantage of opportunities and reduce threats(17) by creating strategies focused on maximizing the opportunities in the business sector, thus reducing threats and their incidence.(18)
On the other hand, Porter’s five forces matrix allows organizations to focus on building a promising and transformed future, which can be achieved through knowledge and incorporating technology in different strategies(19), the relevance of sectoral groupings is highlighted, and the competitiveness in national and international companies is analyzed.
The M.E.F.I. are diagnostic tools used to design and evaluate the company’s internal information, thus obtaining a diagnosis to determine what state the company is in. To have a successful company that is well-positioned in the market, an administrative process is required that contemplates the correct execution of the planning, organization, management, and control phases.(18) Talancon(20) mentions that once the SWOT matrix has been prepared, which lists the internal and external factors that affect an organization’s performance, the next step is to evaluate the company’s internal situation using the Internal Factors Evaluation Matrix (M.E.F.I.).
On the other hand, the External Internal Matrix (I.E.I.E.) is an organizational evaluation tool that considers the Internal Factors (Strengths and Weaknesses) and External Factors (Opportunities and Threats) to identify in which position the company is and what strategies it should implement. This matrix is represented by considering the M.E.F.E. and M.E.F.I. ratings, resulting in the company’s position in one of the nine quadrants of the matrix.(21) These quadrants allow the identification of the strategies that generate the greatest impact on the company’s growth.
Alan Chapman(22) defines the SWOT matrix as a very useful tool for understanding and making decisions in all kinds of situations in businesses and companies, and Correa(23) indicates that the SWOT matrix is generally used as a method of business diagnosis in strategic planning. For this reason, companies must establish all possible aspects, both external and internal, that in some way may affect the correct achievement of strategic objectives.(24)
The P.E.Y.E.A. Matrix allows us to select and formulate strategies that can tell us how convenient they are for our company since this matrix is useful to visualize the return on investment, blocking, cash flow, and capital managed in the entity. The M.I.C.M.A.C. is presented as a tool focused on qualitatively analyzing the relationships between the variables that comprise a system within a company, organization, society, country, etc. It is part of the structural analysis and relies on the qualitative judgment of actors and experts in a system. On the other hand, Hernandez(25) defines it as a method, also called structural analysis, which, above all, is a tool for structuring ideas and offers the possibility of describing a system with the help of a matrix relating all its constituent elements. By studying this relationship, the method can reveal the essential variables that explain the system’s evolution.
The Balanced Scorecard (B.S.C.B.S.C.) is also a useful strategic management tool. According to Norton and Kaplan,(26) the B.S.C.’s main objective is to convert a company’s strategy into action and results, executed through the alignment of business objectives from all perspectives: financial, customers, internal processes, as well as innovation and learning.
To continue analyzing the previously mentioned matrices, it is important to design a business plan as a written document that considers the strategies to implement in a company. According to Lambing and Kuehl(27), a business plan is a comprehensive document that helps the entrepreneur analyze the market and plan the business strategy to achieve its objectives and goals.
To determine the scope of this work, the internal and external factors that delimit the organizational growth and the development of the processes within the company will be analyzed and evaluated to establish strategies and improvement actions. Some important internal factors to emphasize as the brand raised by Paz.(28)
The consultancy applied to the company Acuña Ventures S.A.S.S.A.S. will cover the office in the city of Yopal and its nine collaborators, where the strategies presented in this work will be directed to solve and improve the situations that are presented in the company, according to the above it will be possible to determine how to analyze the strategic plan for the company Acuña Ventures S.A.S.S.A.S. of the city of Yopal?
METHOD
The project is structured based on the positivist paradigm. According to Ramos(29), “Positivism is the methodology for generating knowledge based on data analysis procedures such as those established in the exact sciences” on the other hand, this paradigm “is a quantitative method of research and is characterized by being rational, objective, based on the observable, manipulable and verifiable”.(30)
Descriptive research will be carried out based on applying a Likert-type survey of 9 workers in the administrative area of the company under study, including the founder/manager of the company.
RESULTS AND DISCUSSION
It is necessary to analyze the commercial sector in which the company Acuña Ventures SAS is located; for this, it is important to mention how is the commercial sector of high-end cookware. One of the most important items of this sector is the benefits that can offer the utensils for health care and disease prevention. Now, it is a topic that has taken great importance, as Colombian households are adopting new eating habits, where health care is prioritized. The strategic analysis used in the business world is used to analyze the competitive strengths of the company Acuña Aventures SAS. To analyze this, we use the methodology of Porter’s five competitive forces, where the following results were obtained:
Figure 1. Porter’s Forces
According to the graph where Porter’s five forces are applied, the result of the entry of new competitors is a score of 2, which means that the company has no direct competitors; this is because it is a company that is characterized by the quality of its products and the benefits it promotes in terms of healthy eating, this means that the company Acuña Ventures SAS is not affected at the level of competitiveness. Regarding the strength of bargaining power with customers, a score of 2 is evident; it is low because Royal distributes unique kitchen utensils in the market and does not enter to renegotiate the price of products. Concerning the Intensity of Rivalry, the score of 2 is somewhat low since the only brand that can be known as a rival is Renovar; the threat is weak since the company has been in the market for many years due to the quality of its products and the service provided to customers. On the other hand, the bargaining power with the supplier shows a score of 4, and this is a high level since there is direct contact with the brand and this is the one that provides the utensils; finally, the score of the threat of substitute products was 2, it is very low because there is not yet a product on the market that meets all the requirements offered by the company’s utensils.
Following the analysis of the information collected during the work, the evaluation matrix of external factors (MEFE) is presented, which has a result of 3,32, indicating that Acuña Ventures responds above average to the opportunities and threats in the industry. This represents a great advantage given the advantages offered by the sector, being the awareness of health care in food, the daily use of utensils in homes, and the existence of unsatisfied demand, opportunities that Acuña Ventures SAS has in the sector. On the other hand, unfair competition among franchises of the utensils brand is a threat of greater importance; therefore, measures should be taken to enhance the company’s opportunities and mitigate the effects of environmental threats. The results of the analysis of the company’s internal factors obtained from the internal factors evaluation matrix (MEFI) are also presented, showing a score of 3,01 being a favorable rating for the company’s performance where the most important strength was offering high-quality products and the most important weaknesses to take into account are the prospecting of customers and the delay in the initial services. It is important to outline strategies to improve the delivery of initial services to meet customer expectations and make them feel comfortable with our products and services. Considering the MEFE and MEFI results, the IE matrix is presented, where the rating obtained from the matrices for Acuña Ventures SAS is plotted, placing the company in quadrant I (grow and build). This means that the strategies of greatest impact with its implementation are market penetration and market and product development. As a result of the diagnosis of the company’s current position, the need to focus the strategic plan on market penetration and market development is confirmed to boost sales and focus efforts on new markets.
The application of the SWOT matrix includes the evaluation of strong and weak factors that together diagnose the internal situation of the organization, as well as its external evaluation, i.e., possibilities and risks. In addition, it is an easy tool to qualify and allows one a global vision of the organization’s strategic situation.
|
Table 1. SWOT Matrix |
|
|
Strengths |
Weaknesses |
|
Daily training for advisors (F1) Variety of products (F2) Direct financing with customers (F3) High quality product (F4) Personalized customer service (F5) Incentives for employees (F6) Work environment (F7) Work environment (F8) |
High personnel turnover (D1) Customer prospecting (D2) Delay in initial product service (D3) Social Networking (D4) Qualified personnel for selection, recruitment and training process (D5) Division of administrative offices (D6) Corporate image (D7) Manual of functions for administrative positions (D8) |
|
Opportunities |
Threats |
|
Customer loyalty (O1) Market growth (O2) Accepting different means of payment (O3) Raising awareness of health care in food (O4) Daily use of utensils in households (O5) Existence of unsatisfied demand (O6) Exploration of new markets (O7) Technological advances (O8) |
Lower competitor prices (A1) Dollar-compliant product pricing (A2) Damage to national roads (A3) Unfair competition among brand franchisees (A4) Global economic crisis (A5) Climate change (A6) Instability of the tax system (A7) Change in legal regulations (A8) |
|
FO Strategies (Strengths-Opportunities) |
FA Strategies (Strengths-Threats) |
|
F4O2 Market Development, Market Penetration F4O3 Market Development, Product Development F4O4 Product Development F4O5 Market Development F5O2 Market Development F5O3 Market Development, Product Development F5O5 Market Development F8O3 Internal Development F8O4 Internal Development F8O5 Internal Development F1O2 Market Development F1O4 Market Development, Product Development F7O1 Product Development F7O3 Market Development F7O4 Market Development F2O2 Market Development, Product Development F2O5 Market Development, Product Development F3O2 Market Development F3O5 Market Development |
F4A3 Product Development D3A5 Internal Development, Market Penetration F4A5 Product Development D4A5 Internal Development F8A5 Internal Development D2A2 Product Development, Differentiation F1A2 Market Development D1A1 Product Development F1A5 Market Development D3A1 Product Development F4A2 Product Development D3A7 Market Development F5A5 Differentiation D2A5 Product Development |
|
Results |
|
|
Market Development: 18 Internal Development: 16 Product Development: 14 |
|
According to the analysis of internal and external variables, several strategies provide the company with opportunities for growth and improvement of internal processes; these possible strategies are market development, internal development, and product development. These strategies would help improve the company’s internal processes, search for market niches, and take advantage of the opportunities that arise for Acuña Ventures SAS to continue growing.
On the other hand, the PEYEA matrix’s purpose is to determine the most appropriate strategies for the organization once its internal and external strategic positions have been defined.
Figure 2. PEYEA Matrix
Considering the result of the evaluation of the factors, it is evident that it is in quadrant I, which focuses on aggressive strategies that allow the company Acuña Ventures SAS to take advantage of its internal strengths and market opportunities. Therefore, market penetration and development strategies will be used to enhance sales and focus efforts on new markets.
Then, using the variables of the SWOT matrix, these variables were evaluated with the application of the MicMac tool. As a result, the relationship between these variables. These factors are essential to continue with the strategic analysis of the company Acuña Ventures SAS.
Figure 3. PEYEA Matrix
The variables high product quality, product variety, daily use of utensils, and health care, located in the power zone, mean that they are variables with high influence and medium/low level of dependence; that is, these variables are key for the kitchenware commercial sector since they directly influence many other variables. Daily training, customer loyalty, customer prospecting, market expansion, and market growth should be carefully observed in the conflict zone since they help the company grow and develop new markets. Finally, the variables of personalized attention and the company’s corporate image were located in the results area. Therefore, they are variables that hurt the future scenario of the company, so they should be constantly monitored, and the effects they may have on the company’s growth should be analyzed.(31,32,33)
On the other hand, the application of the previous one helped to construct the Balanced Scorecard tool to specify the improvement opportunities of Acuña Ventures and, based on the obtained data, to establish objectives to develop for the improvement of the company.
Three objectives were established, which, in the exercise of their execution, allowed the improvement of the company. The first proposed objective was to train personnel to provide excellent service. This high-impact objective mainly seeks to attract new customers, build customer loyalty, achieve customer satisfaction with the service, and thus establish lasting relationships. To achieve this objective, three strategies are established; the first strategy is to carry out a training plan, which seeks to train all staff to feed back their knowledge and learn from experts in customer service, followed by a second strategy to train internal instructors where employees with more experience in the company will be appointed in order to make them instructors, to achieve this great goal we also propose to establish agreements with entities such as SENA, which can train staff.(34,35)
The second proposed objective was to improve the use of digital tools; the main strategy that we propose to achieve this is through digital marketing, and of course, to carry out this, it was also proposed as a strategy hire an expert in this area, the main focus with this objective is to promote the Royal brand through the different digital platforms that these tools offer us, taking into account that the company did not have official pages on these digital platforms a Facebook profile was created, Instagram and a business account on WhatsApp Bussines. The reference raised by Gallego and Torres is verified.(36)
The last proposed objective, and no less important, was to design a wellness program aimed at guaranteeing a healthy, integral life for the company’s collaborators; having a motivated, trained collaborator and guaranteeing their good well-being is fundamental for the good development and performance of their functions, to achieve this objective three key strategies are proposed, first, it is proposed to hire a trained person, with the knowledge and skills necessary to carry out all the activities that include achieving this objective, second strategy is to design a corporate wellness plan and create a culture of self-care and wellbeing.
Finally, we can say that the application of the Balance Scorecard of the company Acuña Ventures S.A.S. gave positive results because it was possible to execute one of the main objectives called improving the use of digital technology; the objective was achieved 100 % because the main pages of the company Acuña Ventures S.A. were created. S, having, as a result, the official Facebook page, the Instagram profile, and the WhatsApp Business profile, another result was the new logo and slogan designed to improve the image of the company; we also achieved the fulfillment of almost 50 % of the objective of designing a wellness program aimed at ensuring a healthy, integral life of the members of the company. As a result, we designed the corporate wellness plan and encouraged the creation of a culture of self-care and corporate welfare; with these great results, we helped the company to reinvent itself and be more competitive in the market.
CONCLUSIONS
Acuña Ventures S.A.S. has effectively showcased its ability to maintain and strengthen its competitive position in the high-end cookware market.
This success has been forged through sound marketing strategies, expansion into new markets, and diligent customer service, which are crucial elements that have contributed to its outstanding performance. The company’s successful journey through the birth, growth, and maturity phases indicates a consolidated trajectory, highlighting its adaptability to the different stages of the business life cycle. Commitment to product excellence and durability, especially the Royal Prestige brand, underscores a focus on innovation and quality, key elements for maintaining customer loyalty in a market where innovation is essential. Addressing the areas identified to improve operational management can further strengthen the company’s position, ensuring its long-term sustainability. In summary, Acuña Ventures S.A.S. is positioned as a competitive and adaptive company, capitalizing on opportunities, innovating, and recognizing key areas for continuous improvement.
RECOMMENDATIONS
Implementing digital marketing and market penetration strategies is recommended to strengthen the company’s presence in the market and reach new potential customers. It is also important that the company Acuña Ventures S.A.S. performs an analysis of the manuals of functions presented as a proposal in the consulting work to be implemented in the company’s positions. Thus, the collaborators have clear responsibilities and functions, contributing to a more efficient management of human talent.
On the other hand, it is recommended to establish a wellness program to improve employee job satisfaction, which could positively impact productivity and the work environment.
These recommendations could contribute to strengthening the position of Acuña Ventures S.A.S. in the market, improve efficiency in providing services, and ensure sustainable growth in the high-end cookware sector.
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FINANCING
There is no funding for this work.
CONFLICT OF INTEREST
The authors declare that there is no conflict of interest.
AUTHORSHIP CONTRIBUTION
Conceptualization: Girlian Aylin Mendoza Ramirez, Magda Yuriza Riscanevo Murillo, Paula Juliana Chaparro Valderrama, Marly Liceth Patiño, Yesica Jazmín Rodríguez Mora.
Research: Girlian Aylin Mendoza Ramirez, Magda Yuriza Riscanevo Murillo, Paula Juliana Chaparro Valderrama, Marly Liceth Patiño, Yesica Jazmín Rodríguez Mora.
Methodology: Girlian Aylin Mendoza Ramirez, Magda Yuriza Riscanevo Murillo, Paula Juliana Chaparro Valderrama, Marly Liceth Patiño, Yesica Jazmín Rodríguez Mora.
Project management: Girlian Aylin Mendoza Ramirez, Magda Yuriza Riscanevo Murillo, Paula Juliana Chaparro Valderrama, Marly Liceth Patiño, Yesica Jazmín Rodríguez Mora.
Original drafting-drafting: Girlian Aylin Mendoza Ramirez, Magda Yuriza Riscanevo Murillo, Paula Juliana Chaparro Valderrama, Marly Liceth Patiño, Yesica Jazmín Rodríguez Mora.
Writing-revision and editing: Girlian Aylin Mendoza Ramirez, Magda Yuriza Riscanevo Murillo, Paula Juliana Chaparro Valderrama, Marly Liceth Patiño, Yesica Jazmín Rodríguez Mora.