Evaluation of Mining Projects Australian Economic

Question: Discuss about the Evaluation of Mining Projects Australian Economic. Answer: Introduction: Deloitte Touch is also popularly known as Deloitte, the company is identified with the four vast corporations such as KPMG, PwC and EY dealing with expert administrations. Deloitte was established in the year1845 in United Kingdom by William Welch Deloitte. However, the headquarters of the company is situated in New York; the company is spread across a number of countries around the world. There are countless professionals who are employed under Deloitte all over the world (Galliers and Leidner 2014). These personnel teams up for providing consulting services, financial advice, tax consultation, management of risk and contributing in other administrative decision making processes to their clients. These personnel may be employed under individual firms but these firms are always a part of the Deloitte Touch Tohmatsu Limited (DTTL). Each member firm of the DTTL yield benefits of its geographical location and is liable to abide by the legal and political framework of the concerned count ry in which it is operating in (Pearce and Pinto 2015). Situational Analysis: In order to analyze the business evaluation plan of the Deloitte it is necessary to gain a broader knowledge about the macroeconomic and microeconomic factors that affects the company positively or negatively. The quick and persistent development of the Australias socio-economic factors has convinced a number of companies to shift their headquarters in Australia (Evans-Reeves et al. 2012). Now, the development of the economic zones in Australia has also contributed in the expansion of the businesses of the concerned companies. From the business reports of the company and gaining knowledge about the economy of Australia will help to analyze the situation of the company. SWOT Analysis: SWOT analysis is an analytical tool that is used to analyze the internal Strengths and Weaknesses along with the external Opportunities and Threats (Marre et al. 2015). Strengths: The rapid growth of the company has helped it to obtain a larger share of the market and maintain market leadership. This has also helped the company to raise its revenue more than the 3 biggest competitors. The brand equity and reputation of the company has also helped DTTL to maintain the market leadership. The pricing mechanism of the company is also efficient and gives rise to the cost advantage. Weaknesses: The lower involvement in the research and development activities of the company may give rise to a fall in the market leadership. The company does not operate over the internet. Therefore it is losing a large potential customer base. In order to build up better reputation the company should establish effective communication techniques. Due to the high financial risk associated with the company it should defend itself. Opportunities: The prime objective of the company should be to develop its research and development techniques. The company should also try to capture the markets emerging in the other countries as well. Operating in the internet will again help the company to develop furthermore. The product line of the company should be extended. Threats: One of the prospective threat faced by the organization is the threat of substitutes. There is a price war between the company and its competitors and this will limit the profitability of the company. Objectives: The broader objective of the company is to expand its business by 20% by the end of the next financial year in Australia (Abelson 2015). Segmentation: The company will segment its market while keeping in mind the demographic features of the concerned country. The first and foremost demographic factor that the company will look after is the type of industries in accordance with their growth rate (Abelson 2015). In this particular case the company will prominently look on those companies. In addition to this the age of the company will also be taken under consideration. The older the company is it is more likely that the company will enjoy better opportunities (Holland 2016). Targeting: The companies which will be targeted are mainly under the retail industry as these companies seem to possess larger cash flow and increased business activities. Because of these high levels of business activities these companies will definitely require financial advisory services taken together with auditing services in which Deloitte masters itself (Davey et al. 2014). The older companies existing the market will also be part of the target market and the reason behind this is that they have stood against the test of time and are sustained in the market for a long period of time. This will ensure that these older companies will always be around with Deloitte for a longer period of time. Positioning: The DTTL community that is the Deloitte Touch Tohmatsu Ltd ensures that Deloitte is always one step ahead from its competitors. It makes the company to stand out from the crowd of its competitors. Deloitte group establishes an effective communication with their clients in order to get acquainted about their future needs and be able to design effective strategic framework to mitigate those needs (Davey et al. 2014). The company is a leading financial advisory firm that maintains its position by proper innovation. The Green dot campaign invites individuals and clients to step ahead with Deloitte and the company is presently recognized as the worlds number one company that deals with services organization based on its revenue and size. The company sells to business oriented customers both in the medium sized and large sized firms. The organization also serves to the clients who are growing in a drastic speed and are devoted to meet their business needs along with solving their business related issues (Young and Jones 2014). Products and Services: The company provides its services all over the world. Its services include tax services, financial advice, audit consultation as well as managing the risks of its customers (Young and Jones 2014). The most crucial consulting services that are provided by Deloitte are listed with their features one by one below, Operation and Strategy: Very experienced consultants from wide range of industries and ensured quality of the services that includes both the business strategic decision as well as the corporate decision making. The services main benefit is that it comes with a wide view of the entire strategic decision making process (Singhà ¢Ã¢â€š ¬Ã‚ Peterson et al. 2016). Project Management (IT): Technical solution and the brief knowledge regarding the industry are provided to the clients. This service includes the benefits of developing IT set ups at a lower cost and in an effective way (Singhà ¢Ã¢â€š ¬Ã‚ Peterson et al. 2016). Financial Advice: The company possesses individual professionals who are equipped with a drastic experience in the technical knowhow as well as the financial framework of the country in which the company is operating or will operate. It will help different companies and professionals to make their various economic decisions during various phases of the business cycle based on their financial situations (Jacobson, Cornish and Sedaca 2014). The product line strategy of Deloitte is to provide customers with the services as per the requirements while keeping in mind the needs of the company as well. For example the local companies in Australia require a proper legal framework for terrorist attacks and thus the company should also design its ethical and methodical issues accordingly (Haddad, Muhammad and Wickramasinghe, 2016). Price: Among the 4 Ps of marketing price is one of the most important elements. The pricing of a product that is assigning the price of a product should not be done in a haphazard manner. It is also to be noted that Deloitte focuses more on ensuring the high quality of services that it provides to its customers (Power 2016). Along with this the tough market competition the quality of services turns the pricing strategy of the company in a different direction, that is to develop a more market oriented pricing strategy. The pricing strategy adopted by the company can also be regarded as a competition based pricing strategy (Haddad, Muhammad and Wickramasinghe, 2016). The company first evaluates the price of the similar products available in the market and then sets the price of its own product. This clearly depicts that the pricing of the products produced by Deloitte depends on the outcome of the research. Promotion: The term promotional mix pictures the different promotional tools used by the company for the purpose of selling its goods and services. Deloitte uses a promotional mix that includes marketing over the internet, direct marketing, advertising in the radio, and printed advertisements along with public relations for the publicity of its products (Hall and Chua, 2015). The main two audiences of the company are the business companies which are considered to be the potential customers of the company and the public media in which the people will get know about the nature and type of services that the company provides. The technical strategy that will be adopted in this regard will be to dominate the promotional mix with advertising activities. The company has also decided to narrow down the use of direct mail as these mails seem to reduce the scope to address the potential customers. Direct mails are generally sent to the existing clients because they are the clients whose complete communication details are possessed by the organization (Andersen et al. 2014). Promotion of the services of the company will need to be strengthened by raising its personal relationship activities that is by building up a positive relation between the organization and the media individuals. Distribution: The distribution strategies for the services organization should focus on the convenience, amount of outlets, indirect versus direct distribution and the location as well. The company definitely tries to offer a significantly high level of convenience to its clients who are need of assistance and expect a more recent appointment with the consultants who are responsible for dealing with the clients and performs so just by making a call to the company (Uddin and Holtedahl 2013). An efficient strategic framework used in this regard is the use of place and distribution that Deloitte can adopt are direct sales and contact. This will significantly reduce the specialist intermediaries which will in turn reduce the associated costs. Moreover, there should be upgradation of the customer service that will reduce the reaction time that a client takes for responding to an appointment, solution or recommendation (Uddin and Holtedahl 2013). People: In order to fortify the central intensity of Deloitte more worldwide talents will be enlisted with the company. In the context of the lowering of the Research and Development activities in this way the company may be able to develop its Research and Development segment (Teo, Singh and Cooper 2014). Therefore employing and preparing the new employees will give rise to the competitiveness of the company. Process: The code of ethics and the professional code of conduct adopted by Deloitte should enhance the company as well as the staffs in conducting the business ethically, honorably and with extreme professionalism while maintaining and respecting the national legal structure and the culture of local business (Teo, Singh and Cooper 2014). Implementation: The implementation chart of the company will be as follows, Figure: Implementation Chart (Source: Teo, Singh and Cooper 2014) Control Mechanism: As it is mentioned above that the employees are source of strength to the organization. They are the source of the factors that give rise to the competitive advantage of a service providing firm and therefore it is crucial for the company to keep a close eye on the performance of every employee as well as evaluation of the performance of every employee (Andersen et al. 2014). The performance of the management is also another important determinant of the performance of the company. The management of the company should be efficient in order to establish the fact that the overall performance of the company is enhanced as well as the performance of individuals such as the consultant or the accountant or the management should be enhanced (Uddin and Holtedahl 2013). Along with these a strong leadership culture should be established within the corporate culture of the company it will help to hold the staff and the higher management of the company together and thereby help the company to ach ieve a better performance. Reference List: Abelson, P., 2015. CostBenefit Evaluation of Mining Projects.Australian Economic Review,48(4), pp.442-452. Andersen, A., Beringer, J., Bull, C.M., Byrne, M., Cleugh, H., Christensen, R., French, K., Harch, B., Hoffmann, A., Lowe, A.J. and Moltmann, T., 2014. Foundations for the future: A longà ¢Ã¢â€š ¬Ã‚ term plan for Australian ecosystem science.Austral Ecology,39(7), pp.739-748. Davey, T., Plewa, C. and Muros, V.G., 2014. University-Business Cooperation Outcomes and ImpactsA European Perspective. InModerne Konzepte des organisationalen Marketing(pp. 161-176). Springer Fachmedien Wiesbaden. Evans-Reeves, K.A., Hatchard, J.L. and Gilmore, A.B., 2014. 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