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The contemporary commercial landscape has widened in its scopes and prospects. The international corporate environment has been evolving since the inception of advanced technologies and operational developments which have intensified the competitive dynamism in the business sectors. From B2B to B2C, companies are thriving to modify their approaches to match the industrial standards of efficacy and enhance the market value and preference by the intended market. Understanding the business dynamics has become a necessity which is emphasized more than previous analyses of the intensity of practices and how the alignment can be developed.
Having a critical outlook on the external environment is necessary to adjust the marketing approaches in favour of the company. The current essay will focus on Bilfinger SE Tebodin Middle East, Bilfinger SE is one of the world’s major providers of infrastructure assets. Improved asset management, increased availability, and lower maintenance costs are all goals of the Company (Matel, 2019). Environmental technologies and digital applications are also included in the portfolio, which spans the full value chain from consultation to engineering to production to installation.
2. Discussion (Main Body)
2.1 PESTLE
PoliticalFactor
The Construction Services business is unique in each nation where Bilfinger SE works, thus the company must tailor its policies accordingly. There has been a recent surge in political populism throughout the globe, which they think will have an impact on the German economy. Bilfinger SE has benefited from reduced taxes laws in the Western Hemisphere over the last two decades. (Srivastava etal., 2022). As a consequence, there has been an increase in earnings and a rise in research and innovation expenditures. Changes in taxation policy may be warranted in light of Germany's growing economic disparity. In addition, local governments are looking exploring tax measures that target Construction Services in order to limit the sector's carbon impact.
EconomicalFactor
Considering government spending, consistent requirement due to disposable incomes, and increased investment in new sectors, the financial outlook of Germany in the next 5 to 10 years is expected to stay stable. When it comes to capital goods, Germany's human resources have a moderately high to high competence level. Bilfinger SE can make use of it to not only enhance German services but also to develop worldwide possibilities for its highly trained employees (Mahroogi etal., 2022). The fortunes of the Bilfinger SE in Germany may be affected by government action in the Capital Goods industry and in particular the construction services business. Bilfinger SE's long-term investment plans may be affected by Germany's unpredictable currency rate in the near term as well.
SocialFactor
More and more Germans have been able to obtain basic services during the last decade and a half. This has come about as a consequence of an increase in public service spending. The culture of Germany is distinct from that of Bilfinger SE's native market. In order to better serve German clients, it must work to assemble a local workforce that is familiar with local customs and values. Inequality of income is on the rise in Germany. Over the last six to seven decades, the power structure of our society has remained unchanged (Shadab, 2021). Germany's public opinion is heavily influenced by the media. There has been a remarkable rise in the use of both conventional and social media in Germany. Bilfinger SE might take advantage of this development to enhance the visibility of its goods in the market.
TechnologicalFactor
The product life cycle has been reduced thanks to technological advancements, which have allowed manufacturers to design new items more swiftly. As a result, the marketing department at Bilfinger SE has been under pressure to promote a wide variety of items in order to satisfy its suppliers. It has increased the Bilfinger SE's operating costs. More companies will put money into R&D if Germany has stronger protections for IPR and other forms of intellectual property (Pagès-El Karoui, 2021). In Germany, research and development expenditures are made at both the macro and local levels. The government and business sector may work together to find innovative solutions if there is an atmosphere of creative disruption.
LegalFactor
Despite the fact that some nations adhere to international standards, the time required for a settlement is sometimes measured in years. For Bilfinger SE to successfully join the worldwide market, it must carefully analyse the average time of certain situations. The severity of environmental rules in Germany, as well as the actions that Bilfinger SE must take to comply with such standards (Bayzid etal., 2020).
EcologicalFactor
Bilfinger SE also has an interest in renewable technologies. It can take advantage of the current market trends. Investing in renewable energy is being subsidized in Germany. The national government of Germany now has specific goals to work toward under the terms of the Paris Climate Agreement. As a consequence, environmental requirements for Bilfinger SE in Germany may be scrutinized more closely. The goals of product innovation are likewise being shifted by environmental regulations (Pagès-El Karoui, 2021). Rather of adhering to conventional value propositions, many items are developed to meet environmental criteria. Environmental concerns have become more important to consumers as a result of a rise in environmental consciousness. To be a responsible stakeholder in the community, Bilfinger SE must not only conform to legal norms, but also go above and beyond them.
2.2 Strategic Analysis
Company management: Bilfinger SE is a worldwide leader in industrial services. They provide customers with custom-made solutions and products, from consulting through manufacturing and assembling. Safety and quality are the top priorities (Matel, 2019). Its corporate-level strategy concentrates its efforts on two service lines, four business divisions, and six sectors.
Vision for the Future: Bilfinger SE will expand on its existing position and aim for a 5% EBITA margin by 2024. By 2024, the Group’s sales will exceed €5 billion via organic expansion and chosen M&A acquisitions (Matel, 2019). As the firm returns to investment grade, a strong emphasis on cash conversion will lead to projected free cash flow of over €200 million by 2024, setting the path for a sustained dividend distribution of 40-60% of modified net profit. Bilfinger SE’s data and AI competence are expected to help clients to enter the digital era.
Quality of Leadership: Jon Rokk has been named President & CEO of Bilfinger SE Middle East Engineering & Maintenance. He has been in charge of all Bilfinger SE operations in the area (Steen, 2018). The leadership approach of the company is prospective and having been in command of all Bilfinger SE activities in the region, the CEO is confident about its future. Capitalization on the project-specific leadership has also the potential to intensify its capabilities.
2.3 STP
Segmentation
Assembling Components
For both residential and non-residential building, recycling will play an important part in the future of the aluminium industry across the world. In emerging nations, where rapid industrialisation will necessitate numerous large-scale building projects, the sector will experience rapid expansion (Ha, 2015).
Constructive Tools
In spite of the economic slump, the worldwide escalator and elevator sector is showing signs of growth again. According to Koncept Analytics, the market is dominated by the top four players. EU demand for escalators and elevators is the strongest, accounting for about half of the total installed base. The new-installation market in China is developing at the quickest rate (Dasi, 2019). The global construction industry is expected to drive the market’s growth in the future.
Renovating and Building a House
China is the world’s most populous country and the world’s largest market. Demand will be fuelled by an improving economy and larger housing units. Growth in demand for plastic windows and doors will be the most rapid sub-segment, although plastic doors will not exceed 10% of total door demand. A rise in the popularity of vinyl windows may be attributed to the fact that they are long-lasting, inexpensive, energy-efficient, and low-maintenance (Ha, 2015).
As well as building goods, building materials, and construction equipment, there are other important divisions of the construction business.
Targeting
The company's principal customers are wholesalers of construction supplies (with the exception of wood) and roofing, siding, and insulation contractors. They're the main thing to watch out for. New commercial and residential building has reached record levels, and it's certain to continue doing so for some time yet. It is critical to our business to have a product that is unique and in high demand. Some of the most frequent materials for roof construction include: "Asphalt shingles," "organic shingles," "fibered cement shingles," "metal roofing, clay tiles, concrete tiles, sandstone tiles, slate tiles, cedar shingles, recycled tile roofing and solar shingles" (Lilien, Rangaswamy and De Bruyn, 2013).
Bilfinger SE’s product is completely unique, and moreover, Bilfinger SE is offering it to the business for the first time: fibreglass insulative architectural roof tiles, which are made of fibreglass (Fiberglass Plate). The prices of the aforementioned goods are not all the same. In spite of its higher price tag, Fiberglass Plate provides an insulating benefit that other alternatives do not. Costs for individual insulating goods can be reduced by this.
Positioning
There are a wide variety of tools and techniques that may be used to detect future situations of any sort. A number foresight approaches, such as Delphi, Scenario, quantitative forecasting, and Future User, can be utilised for this purpose. In general, the concepts of foresight in the methodologies described are very similar. Both of these approaches are provided as basic frameworks that may be used in research for a variety of reasons and are intended to produce comparable findings regardless of which approach is used. All of them meet the predetermined criteria of taking into account both the past and the present in order to make predictions about the future (Mutdo?an, 2020). Stakeholder analysis and need finding are important components of The Future User, which is why it’s a good fit for this investigation. Compared to the Future User technique, the other methods offered are more widely applicable and consequently require changes.
2.4 4Ps
Product
The energy industry is well-served by Bilfinger SE Engineering & Technologies GmbH, which has a wealth of knowledge and experience in the field. The decades-long accumulation of specialised expertise is now being made accessible to new sectors (Chakrabarti, 2018). Users can find out more regarding their wide range of goods and services by clicking here. Focusing on the requirements of our clients now and in the future, Bilfinger SE is committed to providing the best possible service to them.
The projects are based on tried-and-true ideas honed throughout time. Due to the fact that they are a full-service firm, they have the expertise to develop solutions to fulfil these energy effectiveness and sustainability needs that are a result of globalization of consumer items. In the consumer goods business, they provide a full variety of services throughout the whole life cycle of a manufacturing facility (Chakrabarti, 2018). With their services, the specialists can assist its clients throughout the whole value chain with their considerable knowledge and strong service attitude - from installation via servicing and productivity improvements, as well as extension, transition, or closure.
“Steam generation technology and other pressure parts”
“Burners and firing systems for all kinds of fuels (various types of coal, biomass, oil, gas as well as special fuels)”
“Fuel feeding”
“Air and flue gas ducts, combustion air systems”
“Pulverisers”
“Heat recovery and heat displacement systems”
“Piping engineering including all machines and technical systems in power plants and processing facilities”
“Flue gas purification”
“Flue gas desulfurization”
“Flue gas denitrification”
“Dust removal technology”
Price
From March 2020, the effects of the pandemic containment measures will be seen across the business community in the US. Also, the cost of oil fell significantly for a short time. These conditions have a significant effect on Bilfinger SE’s operations throughout the last year. On the bright side, the organisation has seen that the organisation is now able to respond swiftly and effectively to changes in the environment (Ansah and Sorooshian, 2018). In 2020, a harsh economic climate brought on by the COVID-19 epidemic and the severe influence of volatile oil prices led to revenue decreases that were enormous in certain cases. This scenario underscores the importance of strategic marketing assignment practices in navigating such turbulent times.
As a result of the COVID 19-related lockout measures, both the North Sea offshore oil and gas servicing company as well as its European operations were severely impacted. There were also significant drops in our North American project business. However, the COVID 19 epidemic and the fluctuating oil price weren’t Bilfinger SE’s only concerns for 2020. The organisation was able to show its sturdiness and resiliency while also addressing important difficulties from the previous administration (Ansah and Sorooshian, 2018). Despite the bankruptcy of the “Cologne Municipal Archives in 2009” and a disagreement with previous members of the Executive Board, the Group was able to avoid any significant financial consequences as a result of these legacy concerns.
Place
Bilfinger SE, an industrial services company, is creating a new subsidiary to house its unique digitalization business. Consumers in the processing sector will get cutting-edge services as a result of the establishment, which is an important part of the group’s 2020 strategy. The company’s main skills allow it to deploy digital solutions to improve plant efficiency and boost plant availability and performance (Niazi, Rashid and Shamugia, 2021). The new division will serve as Bilfinger SE’s digitalization hub, bringing together the company’s top minds in one location. The goal is to bring digital technologies to market in the process sector.
As part of a larger effort to standardize digital applications, a wide variety of skills from the E&T and MMO business divisions will be tapped more often and bolstered by the inclusion of new alternatives. At medium-sized enterprises, the demand for digitization in the process sector is particularly acute. A plant’s efficiency, maintenance costs, and unscheduled downtimes may all be considerably improved by Bilfinger SE’s solutions. Process digitalization’s underpinning principle is known as “BCAP®” “Bilfinger SE Connected Asset Performance” (Niazi, Rashid and Shamugia, 2021). Content-wise, it supports the “Bilfinger SE Maintenance Concept” (BMC) and offers a boost for conventional maintenance services.
Promotion
Its operational divisions are first and primarily accountable for generating new ideas and improving their services, procedures, and technology. Consumers rely on them because they are well-versed about their wants and requirements, as well as those of the local business community and the surrounding geographic area. A “Digitalization & Innovation Lab” was established by Bilfinger SE in 2017 in response to the increasing relevance of “digitalization” for all of its Group businesses. With the goal of advancing digital solutions even further, this unit was renamed “Bilfinger SE Digital Next” in 2018 (Guo et al., 2019). It is their goal to help ITS operational units with their digitization initiatives while also providing advice to new and current Bilfinger SE clients on how to maximize their technological revolution. the organisation has a staff of 30 as of the end of 2018. The organisation also has the responsibility of introducing freshly created digital products to the market.
This is why Bilfinger SE Digital Next brings together Bilfinger SE’s digitalization expertise while also encouraging knowledge sharing inside the company and working with the operational businesses and current clients to build digital solutions. Microsoft, Siemens, and Software AG are just a few of the technological partners it collaborates with as well as a number of start-ups and research institutions. At open-day events with consumers and operational firms as well as sales & marketing training classes for the Group’s sales directors and divisional business-development managers are just some of the ways in which digital professionals from operating units share their knowledge with each other (Guo et al., 2019). Special “accelerators” for each division were created in 2018 in order to guarantee that new ideas and best practices were quickly spread across the company. The sharing of information and expertise between Group firms with comparable business strategies facilitates the creation of new, marketable products and services.
Conclusion
In this way, by considering the entire above discussion it is concluded that the extent and opportunities of the current business environment have grown in recent years. Since the introduction of modern technology and operational improvements, which have increased the competitive dynamics in many business sectors, the worldwide corporate environment has been developing. From business-to-business to business-to-consumer, firms are prospering in their efforts to alter their techniques in order to meet industrial standards of effectiveness and increase the market value and preference by the target market. Having a firm grasp of company dynamics has become essential, and this is highlighted even more so than prior evaluations of the intensity of practices and how alignment may be achieved.
The ability to maintain a critical perspective on the external environment is required in order to change marketing methods in the company’s favour. Bilfinger SE will be the subject of the present essay. Bilfinger SE is one of the world’s largest suppliers of infrastructure assets, with a presence in the Middle East. The Company’s objectives include improved asset management, enhanced availability, and cheaper maintenance costs. Aspects of the portfolio that cover the whole value chain, from consulting to engineering to manufacture to installation, also include environmental technology and digital applications.
Recommendations
Cutting costs and increasing profit margins
In terms of cost, labour will be the most significant contributor. Effectiveness, efficiency, and competency of the workforce are all essential for excellent profit margins to be achieved. Additionally, costs are a big drain on a company’s resources. It is important to keep track of travel expenses, especially if the customer is not picking up the tab for these charges. There are also major overhead expenditures, such as those associated with offices located in high-end areas, such as office space (Imbuhila, 2016). Because of the COVID-19 epidemic, businesses have learnt what they can and can’t do when they’re out of the office.
Reduced exposure to risk, improved oversight, and tighter management
Having effective governance and control in a consulting organisation is all about having good project management procedures and systems (Wanyoike, 2017). If Bilfinger SE relies on Excel to support business operations and offer management information, they are in a bad position.
Customer Satisfaction Enhancement
Clients want businesses to go above and beyond. Intriguingly, it’s unlikely to be achieved unless the workers work at a firm where the culture fosters contented, enthused, and confident people. The customer is looking for a great deal. They expect a firm to complete all tasks on schedule and under budget, no matter how many there are. They expect the consultancy to be competent and trustworthy specialists in the sector and to provide a high-quality solution (Imbuhila, 2016). It’s their hope that the firm will go above their expectations and come up with new ideas. In a nutshell, they want their consumers to be a long-term, trusted confidant.
Expansion of the company and enhancement of the brand
An important goal for many stakeholders is to develop their firm; nevertheless, expansion without profitability is undesirable. The macroeconomic condition will determine the possible amount of growth (or contraction, depending on the circumstance). Increasing market share is more achievable given the COVID-19 crisis’s impact on growth in several markets (Wanyoike, 2017). Achieving both growth and flexibility in the market sector concentration will be important if Bilfinger SE plan on succeeding in the long term in this industry. Acquisitions or new firms, or even new divisions in various areas and nations may be options for Bilfinger SE if it wishes to quit or enter new markets.
References
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