|Type of paper:||Report|
|Categories:||Leadership analysis Company SWOT analysis|
According to the Mainfreight Ltd.'s website, the core values are not clearly stated. However, from the reading in the company website, there are three primary pillars mentioned as the company's driving forces. The Pillar of culture, family, and philosophy.
Pillar of culture
As provided in the company's website, this specific pillar of culture includes aspects such as; ensuring reinvention with growth and time, making learning compulsory, letting the individual decide, maintaining standards, tear down the barriers of bureaucracy, superiority, and hierarchy, ensuring integrity, and looking after the company assets. The company culture is important for Mainfreight (Mainfreight Ltd., 2020).
Pillar of family
This pillar of family entails values like; profit sharing, respect, and collective discussion of issues that may arise. After going through the details of this pillar, it is evident that Mainfreight has a high regard for its customers and employees as well. making it a family.
Pillar of philosophy
In the pillar of philosophy, the company is driven by margin and not revenue, it takes care of the customers, community, and the environment, and total quality. This pillar is vital to the company as it controls how they deal with various aspects of the company and operations.
Analysis of the Core Values
Even though the core values are not clearly defined in the company's profile or website, they inform the decision-making process. For instance, the company has a significant domestic market share which could proof significant with the current world events of the Covid-19 epidemic. Since Covid-19 has resulted to the halt of freight activities, the company might have to focus on the maximization of logistics service in the domestic market. Such decisions are made possible with the ability to integrate the core values to key decisions that ought to be made.
Core Values EvaluationThe Mainfreight's current vision is, "anything is possible for Mainfreight in the universe" and the mission "is to be renowned as the chosen service provider for its customers" (Mainfreight Ltd., 2020). Hence, it is evident that the core values partially support the existing mission and vision statements of the company.
As a global supply chain, Mainfreight is ranked among the best logistics and transport companies in New Zealand and worldwide. The two strengths of Mainfreight include;
Mainfreight has robust sources of revenue and has expanded its operation by dividing the services into the sea and air freight, rail and road transportation, and logistics over the universe. With its global recognition and ownership of a large section of the New Zealand market, Mainfreight attains underlying strengths (Mainfreight Ltd., 2019).
In the past years, Mainfreight has portrayed a successful integration with numerous technologies and acquisition of firms as well. This has been a significant strength in supporting the company's growth in terms of sales and revenue. Compared to other competitors in the New Zealand market and globally, Mainfreight acquired revenue of 2.95 billion NZD in 2019 (Mainfreight Ltd., 2019). The steady growth is a strength as it offers proper cash flows that provide resources for Mainfreight to expand its portfolio (Mainfreight Ltd., 2019).
Two weaknesses of Mainfreight are;
- Despite the substantial growth revenues and margins in Mainfreight, the issue of weak margins and returns is a significant weakness as the company is affected by external factors (Mainfreight Ltd., 2019). Often, events such as inflation, tariffs, politics, and natural disasters decrease the returns and margins, which poses a significant effect on company operations, human resources, and risk management at large.
- In Mainfreight, there are fewer promotion and branding activities, which can be a significant weakness for the growth of the company. Based on the company policies, it does not run any branding campaigns. Even though this might not hamper the operation of the company with various customers, it poses a weakness since local businesses are not aware of the company.
With the increased globalization and technology, Mainfreight's two opportunities include:
- Mainfreight's strategic agreements and strategies create an opportunity for growth in the sector. New taxation policies may significantly influence Mainfreight operations with suppliers, competitors, and customers as they open opportunities to increase profitability (Mainfreight Ltd., 2019). Through government agreements such as the adoption of new technology and free trade deals has provided the logistics company an opportunity to enter new emerging markets.
- The growing production rates are an excellent opportunity for freight operations in that Mainfreight operations are designed in such a manner that they help meet today's challenges and help ensure that the company can avoid risks and maintain a proper focus on the sales and marketing along with the accounting.
Besides the possible opportunities, Mainfreight's two threats are:
- Increasing currency risk which may negatively affect the accounting and sales and marketing of Mainfreight since it involves the possibility that depreciation in a particular currency might adversely affect the value of investments, dividend payments, security, and assets in the foreign currency.
- Although Mainfreight has managed to capture the New Zealand market share, the company needs to develop new strategies to counter competition globally. Some of the Mainfreight competitors include Linfox, Trustpower, TNT, Toll Holdings, DHL, UPS, FedEx, Purolator, C.H. Robinson, and KiwiRail (Mainfreight Ltd., 2019).
Mainfreight Ltd. (2019). Annual Report, 2019. Mainfreight.com. https://www.mainfreight.com/Files/Downloads/Mainfreight%20Annual%20Report%202019.pdf.
Mainfreight Ltd. (2020). About Us. Mainfreight. https://www.mainfreight.com/global/en/global-home/about-us.aspx.
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