Running head: FRANK CONSOLIDATED ENTERPRISES Frank Consolidated Enterprises Pamela R. Willis BUS/475 - INTEGRATED BUSINESS TOPICS October 24, 2016 Brad Bergman Running head: FRANK CONSOLIDATED ENTERPRISES Background Frank Consolidated Enterprises is a holding company for Wheels Inc. and operates by that name in the USA. It was founded in the year 1939, by the family of Zollie Frank, primarily dealing with auto leasing and fleet management (The Summary of Frank consolidated Enterprise Profile: Google Finance, 2016.Retrieved from https://www.google.com/finance?cid=1474778). In order to help its clients manage their vehicles, Frank Consolidated provides financing assistance, fuel and administrative management. It also works together with other companies worldwide through an alliance called Fleet Synergy International that offers leasing and fleet management services globally. It has greatly expanded over the years and currently manages over 320,000 vehicles for their clientele based in North America and also over 1.5 million vehicles in other countries worldwide. Through its leasing division, the company purchases and sells approximately 120,000 vehicles annually. According to the President and Chief Executive Officer of Wheels Inc. James Frank, the enterprise has approximately 1,000 employees who work in the leasing and fleet management divisions. It had sales revenue that amounts to 1 billion US dollars and as at the end of August 2016 and had a 3.03% sales growth rate (The Summary of Frank consolidated Enterprise Profile: Google Finance, 2016.Retrieved from https://www.google.com/finance?cid=14747781). The headquarters is based in the northern part of the USA, Des Plaines, Illinois, although it has expanded to have operations in 53 countries with regional offices in Canada, Mexico, Belgium and Puerto. Running head: FRANK CONSOLIDATED ENTERPRISES This paper will henceforth make reference to both Wheels Inc. as the operational and profit-making arm of the enterprise but will still refer to Frank Consolidated Enterprises as it’s the main holding company. As it was earlier noted, Frank Consolidated Enterprises operates as Wheels Inc in the USA. Importance of Innovation Wheels Inc. is a highly innovative company and has been recognized in numerous peer reviews/awards such as the ‘Chicago Best and Brightest Awards’, ‘Information Week Elite 100’, ‘Chicago Tribune Top 100’, among others for their breakthrough innovations. It has been consistently recognized by Information Week for the last 15 years as one of America’s most innovative tech companies. Likewise, to show the importance of innovation to the company, a portion of its policy statement states, “innovation is a key cornerstone of Wheels. Here, we constantly invest in new technology to meet and exceed your ever-changing needs.” The very foundation of the company is built upon a technologically dependant system that allows the firm to manage its complex operations of fleet management. It has had to originate pioneering products that have helped it maintain its position as an industry power house. Formation of a New Division In this digital age, advancements in technology are evolving at an unprecedented rate and are fast outpacing their adoption in industries. Wheels Inc. being an industry leader in innovating new products and whose very backbone is composed of complex operations, is determined to maintain its industry leading position. In order to do this, it is paramount that the company creates synergy between the various departments in its current corporate structure so that it can deliver a richer and more satisfying customer experience for the new products that it launches. A new division that assimilates and focuses the activities of the Running head: FRANK CONSOLIDATED ENTERPRISES following existing departments will be required so that the company can improve its customer service delivery. The departments include:  Customer Relations Department  Information Technology Department and  Sales Department The new division will be tasked with creating innovative products that are geared at improving the customer experience during their interaction with the company. Pioneering and adopting new technologies that are customer conscious will be a guiding tenet of this new division. The Customer Experience, Applications and Services Division The company plans to open a new technology driven and client focused division that will specifically deal with attending to the customer’s experience when interacting with the company as they use its services, applications and products. The new division will be named the Customer Experience, Application & Services Division; aptly to be abbreviated as the Customer EASe Division. The division’s name has been chosen to emphasis the ease at which the company intends to make future customer relations; a satisfied customer is a loyal customer. The new division will drive the entire organization's relations with its clients and will be tasked with adopting and pioneering innovative ways of making the interactions that its clients have proceeded with as much ease as possible. It will be guided by the following structure, mission, vision, values and functions; Customer EASe Division Structure Running head: FRANK CONSOLIDATED ENTERPRISES The new head of the division will report directly to the President and CEO, James Frank and will be responsible for running the operations of the new division which will be as follows: CEO (James Frank) Customer EASe Cloud Services Customer Relations Data Analytics Virtual Reality Artificial Intelligence Mobile Tech Social Media Mission statement Frank Consolidated Enterprise Customer EASe Division mission statement is: "To delight our customers through delivering the most satisfying customer experience.” This mission statement is aligned to the enterprise overall mission which is to ensure that clients receive fleet management in a partnership environment, which fosters relations among all stakeholders. Vision “To provide the most satisfying customer experience possible by using novel technologies that will push the boundaries of innovation.” This statement is in line with the company’s vision of becoming a world-class fleet, wheels management services which ensures customer mobility. Values Running head: FRANK CONSOLIDATED ENTERPRISES The division will be guided by the following values, which are in line with the company overall, mission and vision which is to provide world class fleet management services to its clients and customers. 1. Our customers are our number one priority. 2. Pioneering and adopting new technology. 3. Ensuring cyber security. 4. Confidentiality of customer information. 5. Respect that is mutual for all. 6. Practicing integrity both in business environment. 7. Ensuring flexibility to changing world. 8. Ensuring that there is transparency and accountability. 9. Social responsibility by ensuring that the community receives quality services for them and their families. The above values also are in line with the company guiding principles which are; being socially responsible to its surrounding community, observing work and social ethics and building a culture of accountability and transparency among stakeholders. Business model for the customer care division According to (“Volusia county fleet management plan”2005), strategic business plans and model are essential in executing new innovations in a company. In this case, the customer care division of frank consolidated enterprise has a theme of “ensuring customer mobility”. It guides the structure of the customer care division. New Products Running head: FRANK CONSOLIDATED ENTERPRISES The division will drive the launching of several new products that are customer oriented. The products have already been proposed and will be immediately launched with the commencement of the new division. The new products to be launched include: 1. Cloud Computing Services This will be run using ORACLE Customer Relation Management™ (CRM) which is the leading CRM cloud software that is geared towards making a seamless customer experience as they interact which the company either on mobile, in store, Wheels website or any other digital platform. It provides a cross-platform customer interaction using pre-built business processes. This will reduce costs and increase the ease at which applications are used. 2. Data Analytics (focused on customer data) It will involve aggressively interpreting customer information and data so that bespoke solutions can be produced for specific customers. It will allow the company to provide solutions to problems clients didn’t know existed and answer questions before the clients ask any. 3. Virtual Reality To be deployed during the training and promotion of new services and products to employees. It will allow the company to have a more realistic training or promotion of new services as VR offers a more augmented and encompassing experience. 4. Artificial Intelligence Will involve the use of AI during interactions with clients. This will be highly intelligent and human-like interactions that are intended to able to respond to customer needs without delay. It will be deployed to act as personal assistant to clients and offer individualized assistance to the clients. Running head: FRANK CONSOLIDATED ENTERPRISES Guiding Principles in the Context of Culture, Social responsibility and Ethics The following are the guiding principles of the customer care division in meeting the set objectives, in line with the mission and vision statement, 1. Adopting systems that are consciously aware of the existing culture in which they operate in. 2. Promoting the empowerment of marginalized persons through their recruitment, training and promotion in the division. 3. Recruitment of young apprentices through an internship and mentorship program in the division. 4. Promoting a green and energy conservation cognisant working policy. The products launched are to reduce the carbon footprint of the organization. 5. To participate in corporate social responsibility activities on a bi-annual basis. Competitive Advantage The products to be launched are unique to Frank Consolidated Enterprises and are yet to be adopted by any other fleet management company. They will help the company to deliver unparalleled customer service delivery and that will be enjoyable to the clients who will interact with the company. Conclusion In conclusion, the creation and ultimate innovation of the Customer EASe division and the new products will help to improve the company’s customer service relation. Improving the client’s experience will be the utmost focus of the division and it will culminate at having a matchless service delivery policy. Running head: FRANK CONSOLIDATED ENTERPRISES References A Strategic Business Plan: Fleet Management Commitment to our Customers: Volusia County, 2015. Florida. Frank consolidated company: Manta content Editor. Retrieved from www.manta.com/c/mtkhd8x/frank-consolidated-enterprises Improve Customer satisfaction: Betaar3 technologies Inc., 2015. Retrieved from betaar3.net/mobile-staff-management/improve-customer-satisfaction/ The Summary of Frank consolidated Enterprise Profile: Google Finance, 2016.Retrieved from https://www.google.com/finance?cid=14747781 1 Frank Consolidated Enterprises Pamela R. Willis BUS/475 - INTEGRATED BUSINESS TOPICS October 24, 2016 Brad Bergman 2 Career Connection: Mission, Vision, and You I am currently a full time student but prior to that I was in the military. However for this assignment I decided to take an organization that I have always found interesting. The organization I selected is the National Science Foundation (NSF). The NFS was created by Congress during the 1950’s and it is the leading independent federal agency, that is used to promote the progress of science and Engineering (S&E) and possesses and annual budget of 7.5 billion dollar USD as of 2016. The vision/mission of the NFS is to have a nation that creates and exploits new concepts in the science and engineering fields while providing global leadership in research and education. Currently NFS is the only federal agency whose mission supports nonmedical S&E; "to promote the progress of science; to advance the national health, prosperity, and welfare; and to secure the national defense; and for other purposes. Business Operates to Align with Vision and Mission The NSF is a “pull up by the boot straps” type of organization whose main focus is tracking and keeping the United States' and the world's research. This opens the door for the NSF to maintain contact with research communities constantly and in turn monitor areas that are most likely to result in spectacular progress, and select the most qualified people to conduct the necessary research. ("About the National Science Foundation," 2016). The NSF is a tip of the spear organization in S&E they locate various avenues of research and education in the form of 3 grants and cooperating agreements; they accomplish this with approximately 2,000 colleges, universities, K-12 school systems, businesses, informal science organizations, and other research entities throughout the US. Science & Engineering is a key section of the nation’s future development and innovation ecosystem. The NSF's role in innovation is essential and a detrimental part to the US' growth. The NSF's commitment to S&E keeps the US in the lead slot in the innovation ecosystem of the 21st century. To accomplish its mission and execute their vision the NSF relies heavily on a well prepared and educated workforce to integrate the company's desires and wants into constantly expanding innovations for S&E. According to the Strategic Plan for 2014-2018 the workforce supports the vision and mission by being "steeped in the expanding knowledge base and advance technology being generated by fundamental research activities" allowing the NSF to "seamlessly integrate the education of future scientist, engineers, and educators into the broad portfolio of research that" the NSF supports. (Strategic Plan for 2014-2018," 2016). Guiding Employees As a want to be employee of the NFS I found that vison and mission support in the fields of Science, Technology, Engineering, and Mathematics (STEM) is very strong. If one is inclined to and works hard they may have the chance to participate in the NSF educational grants and development of innovation programs. Scholarship programs such as the Robert Noyce Teaching Scholarship from the NSF and an education completion grant are options that can be utilized if a student and or employees decide to continue and reach their educational goals. Regular 4 attendance at annual conferences allow employees to share and derive new ideas alongside NSF research developers in the recreation and association of STEM content in their daily lives. These types of options lead to a more fruitful outcome over the years and it helps gain and retain employees because it shows the organization supports, cares, and wants to help increase their knowledge. No Vision or Mission The lack of a vision and or mission statement could cause potential employees, student, and other organizations to be wary of and stay away from the NSF. However the same can be said of any organization that lacks a mission or vision statement. It could be looked at a failure in communication and show a lack of clear objective, direction, and morals. It poses the question of, “What are they about” since it is not given in a mission/vison statement. 5 Resources Robert Noyce Teacher Scholarship Program. (2016.) Noyce Scholar Profile #73: Kasmira Torres. Program details Retrieved from: http://nsfnoyce.org/about/ Profile retrieved from: http://nsfnoyce.org/profiles/73. Nation Science Foundation. (March 2014.) NSF: Investing in Science, Engineering, and Education for the Nation’s Future. “Strategic Plan for 2014-2018.” Retrieved from: http://www.nsf.gov/pubs/2014/nsf14043/nsf14043.pdf. National Science Foundation. (2016.) NSF: Where Discovery Begins. “How we Work.” Retrieved from: http://www.nsf.gov/about/how.jsp. National Science Foundation. (2016.) NSF: Where Discovery Begins. “About the National Science Foundation.” Retrieved from: http://www.nsf.gov/about/. 6 1 Running Head: SWOT ANALYSIS SWOT Analysis for Frank Consolidated Enterprise Pamela R. Willis BUS/475 - INTEGRATED BUSINESS TOPICS October 31, 2016 Brad Bergman 2 SWOT ANALYSIS SWOT ANALYSIS Frank Consolidated Enterprise is a fleet management company providing fleet management services in many countries around the world including the US where it is known as Wheel Inc (Frank consolidated company: Manta content Editor. Retrieved from www.manta.com/c/mtkhd8x/frank-consolidated-enterprises.). The company is known for providing its clientele with a wide range of services that enables it to appeal to more customers and reduce business risks. Stiff competition in the company's niche is, however, threatening to reduce its customer base. FCE has therefore started a special division known as Customer Ease Division whose role to improve customer service through technology. STRENGTHS WEAKNESSES 1. Mobile technology enables a wider 1. Most customers aren’t conversant with customer base to access services right from highly interactive technology at the moment. their mobile phones. 2. Huge financial investment to make the 2. Customer EASE incorporates the use of improvements. Artificial Intelligence which improves the 3. The ideas may be easily limited by other interactivity in customer service provision companies in the same field FCE. systems. 3. Customer service provision through social media improves the image of the company. 4. Data analytics use data mining technology to identify customer trends. 3 SWOT ANALYSIS 5. Virtual reality bridges the gap between selfservice on customer service systems with a representative approach. Opportunities Threats 1. Increased use of smartphones technology in 1. High tech customer systems are likely to comparison to PC. cut down on labor intensity encouraging 2. Many customers are dissatisfied by downsizing of the labor force. traditional low-tech customer services. 2. The fast changing technological field is 3. Huge unexploited social media platform to likely may make it difficult to catch up new improve customer service. trends in technology-based customer service. 4. A chance to reach more customers through 3. The impacts of downsizing as a result of the new mobile provision. technology might get the company into 5. Customers often need better-customized problems with the government based on the support from customer service that is rules of lying off employees. achievable through data analytics and virtual reality. Strengths In 2014 mobile internet usage finally exceeded its predecessor the PC. More people today, therefore, use mobile phones to access the internet in comparison to those using PC. The customer EASE division which has a comprehensive mobile phone support program takes care of this emerging trend. The mobile section will also take off the increasing concern for safety SWOT ANALYSIS 4 while driving, since the use of mobile phones while driving causes distraction. Data analytics will help the customer to understand the different customer needs on fleet management. This technology will help the division to improve its services based on current customer trends such as increased concern for safety. Use of virtual reality will help improve the services given by the division by achieving better interactivity through better-enhanced user interfaces. It will help to fill the gap between the real customer service and self-help services through enhanced interactivity. Use of artificial intelligence helps the division to create better self-service provisions to help the customer which intern reduces the load on customer service agents. Self-service provisions help the customers to solve easy problems hence allowing customer service agents to only deal with the complex ones. This new improved approach to customer service gives the company a competitive edge over many its competitors. Weakness The idea of EASE division is a bright one unfortunately not a complex one. It is, therefore, likely to be copied by the other companies that are the competition of the FCE. The idea of creating this high tech division may, therefore, help the company to improve its competitive edge but only for a short time before the idea is copied by other companies. The creation of the division required a lot of capital investment but the rate of returns is slower than was expected. Despite the fact that the use of high-tech systems in the new division is more likely to cut down on labor force due to increased automation and DIY customer support systems. The huge overreliance on automation of customer service provision may negatively impact the reputation of the company. Many people today despite the availability of Self-help systems still prefer to talk to a real person when they run into a problem. SWOT ANALYSIS 5 Opportunities There is a growing demand for fleet management services not only in the US but also around the world. A forecast has shown a strong indication of huge growth in the fleet management demand approximately standing at a value of $35.4 billion by the year 2019 .This represents a huge percentage growth translating to more customers and hence the need to handle a bigger number of clients for the company to handle. There is also a huge social trend that has popularized technology based customer service, Do it yourself (DIYs) and self-help services. Customer EASE division will, therefore, be adequately prepared to deal with these new trends that have also brought in the aspect of mobile technology use both as a good and bad factor. First, the increased use of mobile phones offers FCE an opportunity to provide its customers with services right from their mobile phones. Secondly, it’s used especially by drivers on the read need to be addressed to avoid dangers of driving when using a mobile phone. The use of mobile phones exceeded PC back in 2014. This, therefore, there is a huge untapped potential in this section when it comes to customer service. The customer EASE division will, therefore, enable the company to achieve scalability in good customer service provision and stay ahead of the competition. Threats Customer EASE division applies high technology which is likely to limit its ability to hire new employees as well as maintain the current ones. There is, therefore, a high chance of for the company will end up in problems with the law over illegal entrenchment of employees as more automation technology is introduced into the system. The division also faces the threat of outrunning its usefulness if it cannot be able to keep up with changing world of technology in customer service. Technological trends and needs of consumers are quickly changing in a fast SWOT ANALYSIS 6 world of technology and the EASE division can only catch up if the changes are incorporated into the system as soon as they emerge. Conclusion Based on the above analysis it is there clear that FCE customers absolutely love the new customer Ease division. Not only has the division given customers convenience it also helps them to save both time and money. Government and employees of the company are however finding the division a bit of nuisance especially considering that it has helped applied the technology of automation in some departments. The results of creating this division, therefore, threaten the job security of employees since the high-tech systems spearheaded by the division may replace some of the employees in the affected departments. It is also not clear what the future holds for the division but the fact is faster technological changes are going to pose challenges to it, therefore, the division needs to stay at the very top of the technology field. The Customer Ease division, therefore, needs to maintain its strengths of customer-centered service provision as well as address as address the weaknesses found in this SWOT analysis. 7 SWOT ANALYSIS References Hill, T., & Westbrook, R. (1997). SWOT analysis: it's time for a product recall. Long range planning, 30(1), 46-52. Dyson, R. G. (2004). Strategic development and SWOT analysis at the University of Warwick. European journal of operational research, 152(3), 631-640. Frank consolidated company: Manta content Editor. Retrieved from www.manta.com/c/mtkhd8x/frank-consolidated-enterprises.
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