Analysis Of Strategic Communication Plan Communications Essay

Analysis Of Strategic discourse Plan Communications put one crosswisek2008-09 was an important year for JSW STEEL LTD as keep comp whatevers evolution and growth was comprehensively tested their allow to survive, succeed and flourish in the midst of an scotch melt blue. The financial crisis that brought arse the painful memories of the Great De charge upion of the 1930s, affected the Indian economy as hale. JSW trade name was no island in this crisis. JSW trade names vision, mission and center pass judgments, policies and strategies in accordance with charters and expectations of stakeholders be maturation balance and minuscule edge and huge term necessarily of the company. In addition, plant-level policy fashioning and schema in mind from the external environment, immanent capabilities would receive info, and performance. multiform in the care for of be after a major step outline is shown in the picture below Major source of macro environmental analysi s for the National vane Policy, technical reports published in jumper lead journals, semifinalnars and workshops. The merchandiseing department at in merged office was primarily credi 2rthy for analyzing the external and inside environment. Information about trades and commercialise segments is obtained from customer surveys, and contrastive separate means. Means for raising and customer needs and expectations of law ability list given in Table below. Information about the internal atmosphere of plant was ga thered by aged officials. Strengths, weaknesses, opportunities, analyzing relevant c altogethering manage, and threats atomic number 18 analyzed and the results of exercises with company leaders and senior get byment are as followsStrengthsRich geological resource base (11 billon tonnes of iron reserves) outsize consumer BaseThe only integrated marque plant producing flat products in southern IndiaLow labour live and spunky productivityflexibleness in adopti ng innovative technologiesGrowing skilled and technical human working capitalWeaknessIndian economy , high reliance on goHigh cost of financeHigh cost of energy famine infrastructureHigh Ash CoalSocio-Political InterventionOpportunitiesStrong and increment Economy (8% GDP growth/annum)Low per capita steel outgo of 47 kg/yr as equated to 400 kg in develop countriesGrowth in steel exports and importsGrowth in motorcar sectorGlobal manufacturing destination for steelThreatsFluctuation in steel wrongsGreen- field steel acoustic projections by international playersExpansion of capabilities through jet -field and brown -field players by by existing playersInput from Stakeholders for the formation of Policies and StrategiesPolicies and strategies of the companys verbalism is a systematic method for identifying infix from stakeholders, and belowstand the needs and expectations of suppliers, employees, customers and other stakeholders. Review and analysis of requirements and expe ctations as to appropriate initiatives are in respective(a) stages shown in below table Area Scope of information Inputs from hatfulHR practices / Skill competence levels / Employee perceptions / Benchmark data / Employee development and preparation / Compensation and recognition systemsHR meet Employees Satisfaction mint Consultants guests Markets customer end characterr requirements, Price and commercial , Segment wise mart growth / trends / expectations, New emerging markets, internal markets, Govt. regulations on imports, exportsCustomer Survey Customers of Competitors overlap Application GroupCompetitive Environment Competitors activities and their plans Global fight Industrial analysis of competitivenessProduct Application Group Customer Services GroupCorporate CommunicationsCurrents efforts on corporate parley Communication strategy and planTop solicitudeTechnologyRisks, apostrophize of capital, Profitability analysis, Cost forecast, Excise gross revenue tax regulations VAI, Austria Technology watch Groups JFE, JapanCorporate Communication Objectives Due to sudden Meltdown, steel hurts went down drastic exclusivelyy and made steel buyers to relax for old thinking it get out go even low and testament cause worst term for steel manufacturers. Similar consequences were faced by JSW nerve Ltd and it was magazine for them to act and act fast and strategically. Their main goal was either to To affirm JSW make Brands as an asset for the company.Being third man-sizedst steel producer in India, JSW steel Ltd was facing heat from top two companies i.e. TATA marque and ESSAR leaf blade Ltd as these two big guns were dropping their trade products prices with ease as they had better market share and doubled the price of Same products that are exported in other countries by JSW STEEL. The short term strategy choose by these two big companies was to reduced the price of the steel for short period still managing to achieve the profit compare to other steel producer and can recover as time passes. But for JSW steel it was one decision to take to decrease the occupation all across units in India and wait for steel prices to go up and pay back into race again.To manage stakeholder perceptions to maximize business value.JSW Steel in like manner called as The Challengers in steel industry in India (Annual Reports). man steel Industries were trying to balance and hold their feet together world(a)ly and in India, it was time for JSW Steel to build the strategy which will function them to terpsichore back and keep them in competition and can win back shareholders trust. The Eloquent drawing of the corporate strategy They should adopt the strategy that is found on the unparallel curves and they distinguished the atmosphere of depression and emerged as the palpable winners Due to high involvement of cost and financial compaction, a drastic cut back in production was on priority for fringy cost producers of steel in India. To go domesticated as pastoral and semi urban demand for steel was the opportunity to tap. To involve Indian fiscal systems as meative banking practices as they meant that India was doing better compared to US and European countries. The pro-active policies of the Government with its fiscal stimulus packages meant that the revival would be in briefer than later(prenominal) in the Indian economy. The confabulation approach adoptive by JSW Steel to achieve above define goals is DAGMAR Model approach. The approach involves advertising planning and the exact method to select the measuring goals and to use these marks to mea sealed the performance. The talk task contains advertising accusives which creates awareness impart information by developing positive attitude and implementing action. The expressive stylel alludes advertising goals which builds company image and credibility, and this are can be achieved by involving and acting with customers, dealers and sta keholders. This approach also helps in allocating the cost in the effective way by help pick out merchandising. So from the above defined documentarys it is clear what JSW Steel has to achieve, and to achieve these goals setting of internal tangible targets will help them to measure their performance, there is also need of distinctive objectives for each group which is an inspirational, realistic and time scaled. Planning of parley strategy by JSW SteelIn a strategic role, market aims of JSW Steel is to transform corporate objectives and business strategy into competitive market position. So their Marketing conversation Strategy should counseling on the in store(predicate)(a) areas Maximising Value added products, Customisation, Import Substitution along with expanding Pan India Reach. consonant product character and timely deliveries enabled a long-run business kin with its valued set of customers, both in the domestic as soundly as International markets.A prominent do mestic supplier of unconditional and Long steel products and a leading strategic exporter of coated products.leverage plants location advantages to increase market share strategically in southerly and Western regions.Growing focus towards agrestic and semi-urban domestic markets having a large demand potential.So the estimated saleable steel will be targeted 3.2428 Mt tonnes and will be sub-divided this target all across marketing and sales department in all region. Strengthening International presence to speed of light countries, also increasing dealer base to over ccc be and to open much 50 JSW Shoppe outlets in the domestic market to get proper reach and serve the customer in the country. These marketing targets should be achieved in next 6 months by-line the promotional activities. Communicating Strategy for creating awareness of the demanded products in domestic market was also high on their agend.Hot rolled productsKey business driversSubstituting imports with focus on product quality, Customisation and timely deliveries.Thrust on project based orders from sectors much(prenominal) as Oil Gas conforming up to Grade API 5L X-70, irrigate pipe-line projects and other infrastructure and construction projects.By virtue of its longstanding dealinghip, the phoner emerged as a preferred supplier, leading to consistent and sustained orders, despite a downturn in the latter(prenominal) part of 2008-09.A prudential shuffle of long-and-short-term contracts to balance volumes with value.Leveraged retail market potential, compensating the volume drop from the go segment.Strong dissemination network with close proximity and strategic focus in southern India, helped during the period of sagging demand in the latter half of 2009-10.Cold rolled productsKey business driversDeveloping of well structured dispersion network assuring easy flow of sales along with good reach.Approval process with Automobile majors helped to potash alum the quality ladder alo ng with other process and supply associate parameters.South India being supply deficit region helped to achieve sales volumes through extended distribution network.Higher Sales in Semi-Urban and country-bred areas.Extended presence by adding new dealers and opening new JSW Shoppe outlets (Branded distribution Network).Entered into long-term contracts with suppliers for telecom and power which continue to grow at a rapid pace.Strategic foray into Pre-Engineered Building segment catering to increment demand for Industrial Construction.The Marketing communication strategy thus adopted by JSW Steel are as follows upgrade Strategy A impact strategy adopted by JSW Steel suggest baleful use of sales force and trade promotions, is best suited to situations where there is a low level of brand loyalty, as the choice is more often than non made at the point of purchase and the benefits are well mute by buyers. The other point was also to create good distribution channel. Targeting Se gments (customer wise and product wise)JSW Steel strategy for targeting segments is to interact with customers, dealers and other distribution channels consistently. Use of sound and creative media strategy beneficial use of promotional ripple, methods and tools for delivering the messages by JSW Steel. Moving towards strategy implementation, following are as follows The most important point was to reduce the cost. This touch on reducing their high cost on inventory of input raw materials as soon as possible. This is only possible by employing production logically in all quarter and adopting aggressive marketing strategy in the rural segment they can quickly overcome the dull and slow period. wholly this meant that a space was being created in supply and demand of steel in the Indian context. Highly cost reduction was on their agenda. So use of amended techno-economics in the plant and the fall in input raw materials they could bring down the cost of production of steel by around 43% as compared to their past figures. Branching out the Product hoop Keeping aside the cost reduction, JSW Steel should enter the long product segment strategically as there is an increased presidential term spending in the infrastructure projects which will in turn render them ready market to serve.In other product segment where the demand has non been affected drastically, like the flat product, they should dressed ore judiciously on the value added product hoop. Tapping the rural Indian market The essence of their strategy was to push aggressive Marketing activities in the domestic markets. Undertaking Direct marketing in to st dischargee and meeting dealers, distributors face to face and persuading them to serve customers in rural and semi-urban areas. The benefit of this activity helps increasing JSW Steel reach in domestic and rural market. Apart from this the best part of this strategy help JSW Steel in adding 50 new dealers and distributors total numbers to 300 hund red in excess. Making availability of steel and also do steel more customers friendly, JSW Steel added more 50 JSW Shoppe outlets and opened in year 2008-09 all across India. The main intention behind this activity was to make Pan India presence of JSW Steel. Growth during Meltdown The strategy adopted by JSW Steel in past yield results and showed positive effect for the company lucrativeness in fourth quarter. They not only got rid of their excess inventories but also reinstated conventional production in all their production facilities and by February 2009 the new 2.8 MTPA project was also licensed. This growth of JSW Steel made them stand apart from the competitors in the steel sector as they recorded their crude steel production capacity at 7.8 MTPA. and then growth in depression times motivated them in all possible way and they reached at the top tasting the profitability. From the above defined marketing strategy, JSW Steel has used Push strategy as they pass involved p romoting heavily to distribution channel, this is, to dealers, agent on the assumption that they will in turn promote heavily on the end users. The Push strategy here means promoting the steel products which is targeted to different segments were pushed through different distribution channels to reach the end users. Push strategies tend to role emphasis on direct marketing (personal selling) and sales promotion. JSWs ability to see beyond the current scenario, induce them to embark on new expand Furnace with confidence which is also incidentally Indias biggest. It is praiseworthy for the strategy implemented by JSW Steel is really commendable as they can forecast the profitability by 60% when other steel manufactures across the world were essay back and cutting down their production. This achievement of reflection will be not only for JSW Steels productive strategy but also for inherent intensity and bouncing back of the Indian economyCo-ordinated promotional mix for JSW STEELTh e communication tools and Promotional Methods applied by JSW Steel are as followsCo-ordinating with corporate communication theory department for creating awarenessThe corporate communication theory team up facilitates communication to reinforce brand-building, compound visibility and a long-term PR policy through the following initiativesBuilding JSWs brand palenessCoordinating PR activities to strengthen the imageBuilding a primordial team to create communication synergyStreamlining PR and promotional eventsFacilitating senior commissions participation in global corporate, spiritual philanthropic forums and foundation-related activities.Media comparisonsThe follow maintains cordial similaritys with media professionals. Its media transparency is critical for correct and factual information dissemination, building a positive brand perception. The communication activities guide oned during the fiscal under review comprised the followingPress conferences The team should org anised 10 press conferences to announce quarterly results, policy issues and key business decisions in 2009-10. quarterly resultsCommissioning of Indias largest blast furnace in Vijayanagar WorksVisit of Al bloodletting to India to establish The Climate Project IndiaEstablishment of Earth Care Awards startup ceremony for Steel plant in West BengalFinancial communicationsThe Companys financial PR involved proactive two-way communications with global investors, analysts and securities professionals.Analysts meets will be organized every quarter.Analyst and Investors visits will be conducted to plant locations.CEOs media homework workshop The corporate communication team should organized media fostering workshop for the top management covering media management, dos and donts of media relations and inter-personal management with the media. The workshop will be attended by more than 20 top management team members.Media visits Print and electronic media visits should be organized to al l across and major branches. .Positioning platformsThe Companys communication modes comprised the following physical (print, poster, banner, gift, giveaway, face-to-face), digital (advertising, audio/visual), web (internet/ intranet) and experiential (events, exhibitions, associate gatherings, project execution, recruitment). It instituted communication guidelines as well as focused communications and fealty to deliver the brand promise.Understanding the JSW BrandThe Companys branding strategy is to nurture the JSW brand as an asset and manage stakeholder perceptions to maximize business value. The scrape patterns in the corporate logo represent a networked organization networking across people, technology and skills. The base represents a strong foundation and the apex points towards straight growth.Internal communicationsThe Company emphasizes internal communication to help employees interact with the senior management. The Companys quarterly news journal called Connect cover s relevant organizational (including overseas Subsidiaries) information.Website managementIn a world where information is critical, the Companys website is on a stiff tush updated to disseminate time-critical stakeholder information. The corporate communication team posts news briefings, minimizing paper use. periodical news brief The Company introduced an easy-to-access and paper saving communication mode for employees. The Daily News Brief covers all important news items published in newspapers. This strategy suggest the integrated marketing strategy triangle. (CHRIS read2006)IMC STRATEGY TRIANGLEMarketing communications is concerned with conveying the messages to a set of customer, distribution channel and stakeholders. As marketing also has to manage relationships with those people who are responsible for producing and distributing the goods and services. Thus Marketing and Public dealing are very much interlinked and there is a public relation element in every aspect of marketing communications. However, PR extends beyond marketing in that it is concerned with the total communications of the organization, embracing the lodge as a whole, funding bodies and shareholders, political and legal interfaces, the media, the organizations employees and their trade union. The needs of PR strategy is there therefore based upon decisions in the leash areas and same can be seen in JSW Steel Ltd.The extent and absolute frequency of the communications with involved public.The degree of importance attached to the communications in terms of their ability to harm or help the organization.The speciality of these communications in achieving objectives.Human Resources and financial planningIntellectual capitalEmployees Locations 7,669 5Recruitment ProcessJSW Steel Process of recruiting fresh graduate and experient executives is critical as they tend to get good knowledge students and having practice experience and good intership background. Experienced executives are recruited for the critical positions for which skills sets are not adequate in the existing teams.Strategy ProcessHiring of engineers and management graduates from premiere institutes is on their agenda. Hiring fresh and experience charted accountants for financial positions. This is done by move recruiting team from HR, Technical, and Management visiting directly to reputed colleges. Company also conduct their entrance test for the shortlisted candidates for the final and interview called O.P. Jindal entrance test, also JSW Steel group lays architectural planmes for recruiting students from campus and also sponsors various events and target alumni group of the premiere institutes. JSW website for direct application Employee referral for experienced people Personal interview. The Company outsources certain routine jobs to contractors supplementing the key functional areas.TrainingJSW consistently invest in training and development programmes, as they believe it is the most im portant asset and will provide sustainable growth to the company for long term. So they invested in growing the teams learning curve. Induction Training includesAll new recruits for the company include a 15-day training program which provides compressed. The program includes in-depth technical and functional training at shop floor level. The practical visits to plant is followed by theory, are the activities which is commensurate in each class of the training. In addition, training for behaviour, safety and environmental aspects are given. As part of the installation program for new members of all steel making plant locations and the entire process is clarified, in addition they are provided information about the group. After training, involved appropriate locations for personal contact is made with new recruits. All team members completing the training faculty can easily access the uploaded module through Human Resources Portal.Overseas Training The Company sends teams on regular basis to other reputed global steel companies so that they can enhance their skills and can deliver best for their organization. Training effectiveness is evaluated by analyse pre-training performance with the post training. The above investments and strategy adopted by JSW Steel related to Human resources and finance planning shows they are fully outfit to undertake the fight down. In past the performance of JSW also shows the same results in fulfilling the achievement and conveying right message to targeted segments. Scheduling and Implementation of communication plan by JSW SteelJSW Steel needs plan their promotional activities on periodic basis and also implementing other plans on calendar weekly basis during the campaign. The following below table give an appropriate programing and implementation of the activities undertaken by the company in rolling out the communication plan. Integrated campaign schedule for JSW STEEL LTD TIME 1 week 2 week 3 week 4week 5week 6 week 7week ADV XXXXXXSalesXXXXXXXXPRXXXXXXXXXXXXXXMerchandisingDirect MaktngXXXXXXXXXXXXXXThe above table represent the schedule weeks when the promotion will take place. The above results suggest that JSW Steel concentrate more on PR and Direct Marketing to ensure the objective to spread the awareness is done in every week. Apart from this they also concentrate on the advertising of their retail outlets by moving rural- semi urban areas on alternate weeks.To overcome the logistic problems and making availability of the products during the campaign, the implementation of the distribution plan is also on weekly basis as decided between the dealers and the distributors. The objective to be served by a distribution implementation will typically cover how, when and where the company market offerings should be made available to the targeted markets. The implementation of this activity by JSW will provide means to communication plans of the company as scheduled.It is reasonable to suggest that implementation is often key determinant in the success or failure of any strategic activity. Therefore, it should be an integral part of any marketing communication plan. This view is supported by examining the history of corporate strategy. Recent times have seen a move away from corporate planning to the concept of the strategic management. The main difference is that strategic management addresses the issues of implementation. Success Vs Failure Strategy Appropriate Inappropriate SSS Good Strategy and Execution (source Adapted from Bonoma, 1984)Evaluation and find out Prior to promotion, the objective of JSW to build the brand perception and build the long-term relationships with the dealers and distributors in domestic markets was fulfilled and the level of awareness and recognition was high. The evaluation of Public relation as a main promotional tool used by JSW Steel in overcoming the problems in domestic market was achieved. Good media reportage and product placement was also achieved during and after the campaign. The graph shows the profitability of the JSW STEE LTD During candidacy and down rise of the time lapse. Methodology of evaluation and controlling the strategy at the coporate level is primarily based on Periodicity and effectiveness of the existing review mechanismUpdating process from time to timeGiving major emphasis on customer feedback and thrust on performance of equipments processControl is the simple way making sure what is supposed to happen actually haapens. The term itself control- often appears to have interdict connotations and is seen as limiting and coercive. This similar with the case of JSW Steel Ltd, the company management should or can develop effective control systems to monitor the campaign in future. Compare to their achievement of their objective in past JSW Steel is did well in time of recession and hoping to keep the pace release on to be the consistent challenger in the steel industries.FeedbackThe Communica tion planning strategy Adopted by JSW Steel Ltd was fair generous to convey their message to their targeted segments and other counterparts. The profitability achievement during the times of market being unfavourable corporate communications of JSW Steel was clear with their objective and how to achieve their goal by using proper promotional mix and other communication tools. Looking at the future of steel industries JSW Steel will be the market leader in coming future as they tends to adapt as per market change and deliver the quality products to consumers.Reference and bibliographyBooksChris Fill 5th edition (2009), marketing communication interactivity, communities and substance Richard M.S. Wilson and Colin Gillian 2nd edition (1997), Strategic Marketing management Planning, implementation and control Graeme Drummond, John Ensor, Ruth Ashford 2nd edition (2001 reprinted 2002,2003 (twice)) Planning and control Jim Blyth 3rd edition (2006), Essentials of marketing communication Patrick De Pelsmacker, Maggie Geuens, Joeri Van Den Bergh, (2005) Foundations of marketing communications (A European Perspective)Websites and databaseshttp//www.jsw.in/ (accessed 21.11.2009) http//www.jsw.in/companies/JSWSteel_aboutus.shtml (accessed 21.11.2009) http//www.jsw.in/organization/overview.shtml (accessed 21.11.2009) http//www.jsw.in/companies/company_JSWSteel.shtml (accessed 21.11.2009) http//www.jsw.in/beyond_business/future_prospects.shtml (accessed 21.11.2009) http//www.jsw.in/investor_zone/steel_presentation_analyst.shtml (accessed 22.11.2009) http//www.jsw.in/investor_zone/financials_quarter.shtml (accessed 22.11.2009)