New Harvest Coffee can take advantage of the resources it has available based on the four main factors of production to drive its agenda. The four factors of production that can help the company achieve success include capital, labor, entrepreneurship and land (Kurtz and Boone, 23). Each of these e factors contributes to the success of the company in a unique way. Capital refers to the investments that the owners and shareholders of the company put in the business while expecting returns in the long run. For New Harvest Coffee, capital investment includes the new technologies and resources that aid the company in providing high-quality products and services to its customers. Tools such as coffee processors, harvesters, and technological resources such as the internet comprise a significant share of the companys capital (Kurtz and Boone, 37).
The other important factor of production is labor, which incorporates the companys human resource. New Harvests labor force includes both skills and unskilled workers. The other factor of production is land or natural resources. New Harvest makes use of this resource effectively through growing its coffee organically and locally through a sustainable process. The other factor of production is entrepreneurship (Kurtz and Boone, 39). New Harvest promotes this aspect of production by engaging itself in new research studies and corporate social responsibilities.
Strategic alliances are very beneficial for the success of any organization. As Rik Kleinfeldt notes, forming strong alliances with not-for-profit organizations will be very important for marketing purposes of the company (Kurtz and Boone, 39). These alliances will ensure the company entrenches itself in a new market with new opportunities for growth. These strategic alliances also help the company in terms of building its brand by associating with other leading brands to execute its mission.
New Harvest is also strongly committed to creating a sustainable business model that aims at improving the environment and ensuring strict adherence to values of corporate governance. This has set the company aside from most of its competitors. The focus on environmental sustainability is one of the competitive edges of New Harvest Coffee. As part of its commitment to environmental sustainability, the company is involved in ethical business operations and social responsibility (Kurtz and Boone, 39). This approach in doing business helps the company to increase the value for its shareholders, attract and retain more customers and strategic partners, as well as strengthening its supply chain management system.
The reputation of the company as an environmentally, socially, and economically friendly business has benefited it when it comes to building stronger ties with its consumers. Today, many consumers are aware of the demands of corporate governance and the challenges of environmental degradation as well as the misuse of natural resources through poor governance (Kurtz and Boone, 44). As such they have piled more pressure on contemporary organizations to maintain a strong public image through elaborate policies touching on corporate governance and environmental sustainability. As one of the organizations that pays more attention to corporate governance and environmental sustainability, New Harvest Coffee has been able to strengthen its relationship with customers and consumers of its products globally. Many customers who believe in the need for a sustainable and a responsible approach to managing the environment feel obliged to identify themselves with the company (Kurtz and Boone, 53).
Kurtz, David L, and Louis E. Boone. Contemporary Business. Hoboken, N.J: Wiley, 2011. Print.
Need a paper on the same topic?
We will write it for you from scratch!
If you are the original author of this essay and no longer wish to have it published on the SpeedyPaper website, please click below to request its removal:
- SWOT Analysis
- Life Is the Sum of Your Choices
- writing in nursing
- Killings By Andre Dubus
- History and Evolution of the Juvenile Justice System
- Reasons for Becoming an Army Officer
- Marketing Organization and Advertisement
- Evolution of the American Punishment
- Green burials in effort to save planet Earth
- Reasons behind resistance to change
- Definition of Different Stages of Moral Development
- My personal success in college and life.