Companies are typically affected in the markets they serve by innovations and economic patterns. The management of the group wants to develop a clear understanding of their product, market share and market place, and special and niche model, as well as their influence of economic factors. The marketing relates to the connection between consumer desires and their reaction to a company’s goods or services. An enterprise with a good brand can boost its revenue by increasing consumer awareness and giving it a consistent orientation that contributes to improving operative quality. An organisation should connect its brand with its purpose and plan and be mindful of its sales and marketing weaknesses and capacities. The Victoria Sugar Mill Estate in Queensland is Australia’s largest sugar mill and one of Southern Australia’s oldest. A stack of 66 m high on the premises needed maintenance work including structural changes, sticking and painting. To achieve that, a work platform needed to provide a quick assembly, reliably and lightweight scaffolding framework. One of the many problems was that in a cyclonic environment, the site of the project dropped and a cyclone struck the scaffolding possibilities. The whole fabric was engineered and modelled in three different segments to support cyclonic wind speeds up to 230km/h. This will cause much of the grinder to continue in position throughout such an occurrence and ensure limited dismantling and related downtime. The project received the Townsville Chamber of Commerce Innovation Award and our near partnership with Benchmark Scaffold and Layher Australia enabled us to implement the Layher Method effectively in this project.
The chain of activities
connects each company to develop the value of the enterprise. They buy raw
materials, produce, distribute and sell products and services. These actions
shape the value chain together. Therefore, Value Chain sees the company as a
value chains. ‘Value is the price that shoppers are prepared to pay for what
they get from a commodity. To the amount, that the value received by a company
increases the actual expense involved in the production of its goods. A central
principle to analyse the successful role of a company is to create demand of
buyers that surpass the cost of revenue (i.e. the margin). Organized in 1919 by
Victoria’s Milling Company, Inc. (Victoria Sugar Mill), the largest saucier in
the Philippines and one of the largest in South-east Asia, the company
manufactures 30 percent of Philippines’ regular refined sugar requirement (Muflikh
et al. 2021). Over the years, it has
extended and engaged its activities in the manufacturing, food and engineering
sectors. Victoria’s Food Corp (VFC), Victoria’s Quality Packaging Corporation
(VQPC) and Victoria Engineering Division was organised by Victoria Sugar Mill.
It also went to other enterprises concerning irrigation, transport, the
railways, school and hospitals. It is also involved in agriculture. Victoria
Sugar Mill has two divisions, including North Negara Marketing Co., Inc. (None
Marco). In the middle of July 1997, though, for the first time in 78 years,
Victoria Sugar Mill ended its milling activity forever. This caused an
inestimable loss of P6.6 billion and did not cost the business more than P150
million in annual maintenance and renovations, because its finances are
inconvenient and almost all banks in the country had money already owed (Pachn
et al. 2018).
Inbound logistics: According to Rosales et al. (2017), inbound logistics include package processing, storage, quality management, and truck scheduling and supply return of defective goods. The costs related to all items inside the incoming logistics operation must be studied and analyzed and how they can be reduced as much as possible. Organized in 1919 by Victoria’s Milling Company, Inc. (Victoria Sugar Mill), the largest saucier in the Philippines and one of the largest in Southeast Asia, the company manufactures 30 per cent of the Philippines’ regular refines sugar requirement.
Figure 1: System Performance Metrics
(Source: mdpi.com, 2017)
Outbound logistics: These operations relate
to the physical sale to consumers and consumers of the finished products. They
entail finished products, storage, handling of inventory, activities for
distribution vehicles, sorting of orders, etc. Efficiencies may be
accomplished, whenever feasible, by successful transport, reliable storage and
delivery of finished products in greater lots. Over the years, it has extended
and engaged its activities in the manufacturing, food and engineering sectors.
Victoria’s Food Corp (VFC), Victoria’s Quality Packaging Corporation (VQPC) and
Victoria Engineering Division was organized by Victoria Sugar Mill.
Marketing & Sales: This role covers all
practices a company uses to advertise its goods and to sell them to its
consumers. Those are promotional activities, product marketing, sales, business
analysis and planning, delivery networks, etc. The highest Victoria Sugar Mill
officials reportedly appropriated corporate funds for personal use and
collusion inside the enterprise took several forms from the top-level
management to the lowest-level management. All the main creditors to Victoria
Sugar Mill decided to do nothing during its shutdown during the creditor
meeting held on 10 March 1997, despite its charges against the cash-strapped
sugar refiner (Beretta, Stucki & Hellweg, 2017).
Human resource
management: These operations involve workforce screening, recruiting,
preparation, growth and pay. The staff are included in any operation. Human
resources administration operations will also be coordinated and regulated
across the whole chain. It also went to other enterprises concerning
irrigation, transport, the railways, school and hospitals. It is also involved
in agriculture. Victoria Sugar Mill has two divisions, including North Negara
Marketing Co., Inc.
Value drivers
The infrastructure
consists of a series of actions that generally benefit the whole supply chain,
including general administration, organizing, financing, accounting, public
relations and governance. Infrastructure plays an important part in the smooth
operation of the sector. In the middle of July 1997, though, for the first time
in 78 years, Victoria Sugar Mill ended its milling activity forever. As per the
viewpoint of Jones, Demirkaya & Bethmann (2019), this caused an inestimable
loss of P6.6 billion and did not cost the business more than P150 million in
annual maintenance and renovations, because its finances are inconvenient and
almost all banks in the country had money already owed. Value drivers refer to
factors, which increase the valuation of a company if there is a sales chance.
Business managers must consider important considerations to maximize their cash
balances and reduce risks, thereby increasing the company’s total value. A few
years until they consider an exit Victoria Sugar Factory needs to begin
tracking the worth of their business. Victoria Sugar Factory needs to identify
and understand the factors for valuation, which increase cash flows and reduce
company-related risks. There are several value factors, some unique to certain
sectors, that can be attributed to a company. Below are some of the universal
drivers for assessment. They agreed not to cancel payments and submit declarations
about debt and set up a working group (White et al. 2018).
Figure 2: Value drivers
(Source: blog.pricebeam.com, 2018)
Cost Drivers
Debt management,
recovery plans, proposing constraints on property and expense through job cuts
and oratory debt payments over 90 days, do not clarify the extent to which
Victoria Sugar Mills liabilities about industry face problems with the cash
flows and its debt… This is shown below. In addition, the Victoria Sugar Mill
requested that SEC set up a temporary management committee that will supervise
its operations and fulfil obligations such as accountable payments with
different government agencies, pay the salaries and benefits of its employees,
carry out the maintenance and repair operations in off-season service. As
commented by Jckering et al. (2019),
the SEC agreed to set up a six-management committee to remove the Victoria
Sugar Mill from its financial difficulties. If Mancom was formed, the board of
directors of the Victoria Sugar Mill presented to the SEC a rehabilitation plan
aimed at reducing costs and simplifying Victoria Sugar Mill’s other companies
other than sugar. Meanwhile, Mancom found facts that, based on the audit
performed by Joaquin Cunanan & Co., Victoria Sugar Mill’s real net asset
value (NAV) in the first quarter amounted only to P528 million compared to the
initial statement of P2.95 billion, which Victoria Sugar Mill had uploaded to
cover its financial records.
Figure 3: Value chain analysis model
(Source: business-to-you.com, 2019)
Usually, costs per unit
decrease with increased demand. Capacity prices are distributed over larger
quantities or employing discounts. It is possible. A business can make good use
of domestic economies that support its development. Companies may also make
additional savings by joining, consortium or contracting, to boost their
purchasing force and lower costs. While specialist companies seem to build
strength in their emphasis on specialized areas, such focus could result in
risks due to the lack of diversification and over suspending in a few markets.
Any of the biggest buyers of these companies may only pursue a sales strategy
through providers who deliver a range of goods, which obliges them either to
sell or extend their product offers to a larger company (Fernandez-Stark &
Gereffi, 2019). Firms must look for a variety of offers. The initiative for the
reconstruction of the Board of Victoria Sugar Mill did not understand their
employees’ participation in the scheme involving 51 per cent reduction in work and
merger groups of the same function. Victoria Sugar Mill also requested its
owners to exclude their new entrants from their pre-emptive powers. It
requested that interest service collections be suspended not having regard to
the unsecured creditors. No strategic strategy analysis and direction. No
reviews results (Yao et al. 2018).
Figure 4: Value drives & constraint blockage
(Source: wilsonperumal.com, 2017)
Bidding systems did not
go into the acquisition of overpriced supplies and emergency acquisitions. Ash et al. (2017) opined that RSDOs had not
been authorized. The OECD Equitable Treatment Principle guarantees that all
owners in any range of classes are given fair treatment. This ensures that all
shareholders can have fair representation in the Business, be able to access
reports on the situation of the Company and related issues concerning the
Organizations, vote, have the capital of an owner protected from
misappropriation, abuse and abuse of conduct, and be able to correct or rectify
any infringement of the law. As stated by Kumar & Kansara (2018), in the
rehabilitation strategy introduced by Victoria Sugar Mill, small players were
not entirely taken into serious consideration by the big players, as the
Victoria Sugar Mill opted to request its owners to exclude their preventive
rights to new entrants and to reduce expenses by cutting down their staff. It
has since been projected that, in some offices, at least 2,000 of 4, 500
employees were displaced; just 10 per cent were retained and others rotated
through the closure. The recovery proposal of the Victoria Sugar Mill Board
shall also require a 51% reduction in work. Major players were, however, afraid
that the minority might benefit management from Nonemarco when its stockholders
could turn their reported dividends into cash or additional securities.
An organization may
measure patterns, classify liabilities and assets and equate their status and
financial results with other related firms via a financial report. Internally
prepared financial statements could prevent the management’s performance
evaluation, which would result in the prospective buyers being able to doubt
the accuracy of the information. For any organization, skilled human resources
are important. Corporate staff devote their expertise, creative skills,
understanding and experience to the corporate community and its wellbeing. The
efficiency of output and service distribution is determined by workers. Aguilar-Rivera
(2017) commented that during that period, the recovery strategy for the Mancom
Group focused on the development and regeneration of the Victoria Sugar Mill
activities for milling, debt restructuring, and cash injection and creditors
settlement. These clashes were valid as the approval of the recovery package
took nearly two years to ensure that all parties served the best interests.
Moreover, these conflicts should be dealt with by a thorough understanding of
the company’s actual position through means of assessment analyses, audit
results and executive reports to determine the targets. Then assess each
dispute by deliberating its advantages and disadvantages and obtain independent
counsel that develops a rehabilitation strategy that is consistent with the
condition of the Victoria Sugar Mill. However, for many factors, the
rehabilitation strategy does not guarantee to restore Victoria Sugar Mill. At
the creditors’ conference, they addressed how the recovery package will include
better than their other alternatives, such as the winding-up and cessation of
payments. However, as the scheme has never been made before, it should be
strictly adhered to after its approval by the SEC and several disputes have
arisen as have been stated earlier. The scheme is risky.
Reference List
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