As discussed above that the firm works in three different industries i. e. Marin, Food Service as well as Cranes therefore it faces different industrial environment also. In food service segments, the rising prices of commodities may decrease the overall demand for the foodservices products of the firm. Similarly, technological factors are going to change a lot within next 10 years.
The new technologies are emerging at relatively low cost therefore the scenario of 10 years down the line, there are many changes including technological as well as economical in nature are going to take place.
The firm works in an industry where margins may be relatively high however, with the increasing pressures on the commodity prices, development of bio fuel as well as shifting of world trade towards EU and BRIC, the firm may find itself into hot waters and may not face the same industry dynamics which it is now facing.
Operating Environment Operating environment basically depends upon how the business can succeed in achieving and maintaining a low cost environment.
(Carlegren & Diaz, 2004) The long term sustainability therefore would depend upon how quickly and efficiently firms develop their core competencies. Over the next 10 years, there is at least one big change going to take place and that is the development of alternative energy sources. The sustainable energy sources would greatly reduce the overall cost of doing business.
Further, due to ageing population of the developed countries, firms may going to rely on immigrants to fill up high tech jobs therefore outsourcing or direct hiring of new personnel are two most important changes that may take place over the period of 10 years.
Long Term Objectives
1) Establishing new management practices to take into account the changing job requirements. 2) Diversification of business into new product lines as well as development of new markets.3) Plan to outsource minor activities to concentrate on developing core competencies of the firm. Bibliography 1. Carlegren, F. , & Diaz, A. L. (2004, July 24). Operating environment essentials for an on demand breakthrough. Retrieved September 01, 2008, from IBM: http://www. ibm. com/developerworks/library/i-odoe2/ 2. Manitowoc Company. (n. d. ). Our Company. Retrieved September 01, 2008, from Manitowoc Company: http://www. manitowoc. com/en/OurCompany/Default. cfm 3. Monye, S. O. (1997). The International Business Blueprint. London: Blackwell Publishing.