Consultative Analysis of Silver Chef Group

Question: Discuss about theConsultative Analysis of Silver Chef Group. Answer: Introduction The report is basically talked about the B corporation organization and contribution of the organization in triple bottom line elements. The report is also discussed about those areas in the country which required for the improvements. For the discussion the company Silver Chef Group has been taken. The silver chef group is the combination of two countries named Silver chef that is a hospitality company and GoGetta that are other industries. This company was founded in 1985 by Mr. Allan English. Silver chef was listed on Australian Stock Exchange in 2005. The company mainly operates in three countries i.e. Australia, New Zealand, and Canada. The company serves around 25,000 customers to start their business in hospitality industry (Silver Chef, 2015). Company provides funds to the small business owners for setup their business. Silver chef became a certified B corporation in 2015 because of its core values and culture of the business. Company is much focusing on the bottom line profi tability. This B corporation identity helps the company to create effective strategy for the business operations (Silver Chef, 2016). Silver Chef Group: B Corp A B Corp refers to the benefit corporation. It is a certificate given to the profit companies by non-profit B labs who meet the standards of social and environmental performance, accountability and transparency in their business (B Lab, 2016). Silver chef group became a certified B corporation in 2015 because it delivers social, environmental and economic benefit for the society of the Australia. The core value of the company is to get success based on the relationship with the community and society of the country. Mission of the company is to gain long term success with economic profitability and global business benefits. With the B Corp certificate, company is now able to create new strategies for the welfare of the society. With the B Corp accreditation, company seeks to deliver good changes in the society (Silver chef, 2015). Triple Bottom Line in the Company Triple bottom line in any company refers to the three pillars of sustainability. Triple bottom line helps the company to create strategy for business development. It refers to the three important parts i.e. people, planet and the profit. These parts are also called 3Ps. This is a framework that determines the performance of social, environmental and financial aspect of the company. These three parts tells about the actual position of the company. In the case of the Silver chef group, company gives contribution to triple bottom line factors in very effective manner (EMERSON, 2015). People: People aspect refers to the social capital. The people of the triple bottom line refers to the impact that a business has on people within the business (employees) and people outside of the business (the community).This factor can be determined by measurements of education, equity and access to social resources, health and well-being, quality of life, and social capital (Slaper Hall, n.d.). Silver Chef mainly focuses on creating a culture that motivates and engages employees in the business operations. The company supports key Core Values i.e.Teamwork, Respect, Attitude, Flexibility, Integrity, Communication and Wellbeing. Silver Chef Group provides a proper training and development program to help the employees to achieve their objectives and goals. Company seeks its success with the people who are connected directly or indirectly with the company. Along with this, company has also recorded positive results for the customer loyalty. Customers found the company best in the t erm of customers loyalty and customer services (Business Franchise Australia, 2016).. Planet: Planet aspect refers to natural capital. It includes environmental stewardship. Companies can improve the natural order and minimize their environmental impact in a wide variety of ways that are not only cost-effective, but easy to implement and adopt. This factor can be determined by natural resources and reflect potential influences such as air and water quality, energy consumption, natural resources, solid and toxic waste, and land use or land cover.Silver Chef Group is adopting green practices to save money, to attract new customers and helping to save natural environment. Company has already won the B corporation certificate for its green practices to save the environment (Business Franchise Australia, 2016) Profit: Profit aspect refers to the capital. It includes the real economic value such as income and expenditures, taxes, business climate factors, employment and business diversity factors created by the business and enjoyed by the society and community. The basic concept of this aspect is the flow of money. Silver Chef Group has strong financial stability with the effective and good returns for shareholders. Along with the Australian branch, Canadian branch is also growing with the strong budget (Silver Chef, 2016). Apart from this, by the merging with GoGetta, Silver Chef is experiencing 37% more profit and increment in the value of assets. The main reason of the companys success is its working capital. According to a report, silver chef is the best place to work for the people. The company has achieved 25th position in BRWs best places to work list (QuarterlyInvestorNewsletter, 2010). Improvement Required Areas In spite of many best things in the Silver Chef Group, there are some areas which need to be improved. The company is obviously successful and famous in the country but there are some risks with its business. Silver Chef is the company of equipment finance, and it is mainly targeting the hospitality industry. The company can do well in the business operations till the economy is strong and in the favor of the company. But when the economy falls down, company could be immovable with its old equipment and it would be difficult for the company to give rent to the customers (silver Chef, n,d.). In the case of Silver Chef, shareholders consider Silver Chef as risky. There is a very high debt in the company. Along with this, more international expansion can be the cause of more competition and worry. Company is investing all its cash in the new equipment. This is good to invest in new products but dividends are not coming in the business. Dividend should come for the growth of the business. Share prices of the company are good but if there will be recession, share prices will fall and then there will be higher risk for investors. Company need to focus on the cash inflow more than cash outflow to pay the dividends. Apart from this, there is a problem with the website of the company. It has poor website. People who want to search out for the company; they face many problems (Intelligent Investor, 2015) Social Media Campaign for Silver Chef Before making a social media campaign, it is very important to know about the social media marketing. Social media marketing refers to the marketing with the online tools such as Facebook, twitter, and linkedin to attract the customers in an innovative way. Todays world is digital and every person is using social media. Companies are also using social media channels to attract the new customers and retain the existing customers. There are many resources available on the social media by which company can promote its products. Company needs to plan a effective social media campaign because a failed campaign can be the cause of uncertainty (Perdue, 2010). The development of social media campaign for Silver Chef is described below: Gather a talented team: it is not necessary that if a person is not facebook then he is able to communicate professionally with others. Silver Chef needs to gather a talented team who can operate social media tools effectively and communicate with the customers professionally. Social media requires some skills such as writing, editing, photo editing, respond in real time etc. Silver Chef already have specialized team for social media marketing who design innovative ads for the promotions. Team Silver chef gives quick response to its followers on facebook (Silver Chef, 2016). Plan the campaign: When a company is going to launch the new product in new location, social media campaign help effectively in promotional activities. Before conducting a social media campaign, a proper plan is necessary. Proper plan includes selecting the social channel, objective of using social channel, team assignment, ideas and content for the social channel etc. Silver Chef can plan the strategy of social media marketing before launching new product and allocate the task of handling queries and comments to different teams. A planned campaign will be lead to a successful campaign. Silver chef is focusing on creating proper steps for the social media campaign so that it could attract more customers (Hemley, 2014). Choosing the most effective social media platform: Company needs to set out the targets and goals and needs to select the most appropriate platform of the social media channel for campaign. This time, company is focusing on facebook for social media marketing. Along with this platform company can more focus on the linkedin and twitter for the campaign because people are more connected with these channels also. Company has trained members who revert back to the customers on their comments and queries. Create editorial calendar: company can create an editorial calendar so that team of the social media campaign can stay connected with the public and it will also help to identify and notify the needs of the customers. Calendar will help the team to collect the data related to the campaign such as category, key words, promotion, content format, additional dates, due dates etc. Silver chef is not using editorial calendar. Editorial calendar will help the company to identify the needs of the customers. Honesty and transparency: Silver Chef is honest and always shows transparency with its business. It is important to deliver honesty in the marketing campaigns so that customers can rely on the company. By the campaigns, customers should be known of the companys policy and the delivering capability of the products. Silver Chef always tries to keep the voice friendly and relevant in its social messages. Company is very careful how it is promoting its products by using social media channels. The content and voices of the message should be similar to the goals of the company (Daquino, 2016). By adopting these marketing campaigns ideas, Silver Chef Group will be able to attract more and more customers by the social media platforms. These ideas of campaigns will help the company to get competitive advantage in the international market. This campaign would create consulting offering for the company. Arguments in Support of Current Strategy Company has already focusing more in promotional activities by using social media channels. It has a team for giving revert back to the followers on their comments. Company has included facebook and email to stay connected with the customers. Along with this, company also creates blogs for their users so they read them and get knowledge about the company. Company has started food photography for promoting its business among the customers. This is the way of the company to say thanks by sharing photos on instagram and snapchat. Company posts the photos with hash tag on instragram and facebook with the location. It helps the customers to access the location of the company. By using these marketing strategies, company is attracting more customers and winning customers trust and loyalty for the brand (Silver Chef, 2016). Conclusion The report has been discussed about the B Corp company named silver chef group and contribution of the company in triple bottom line elements. By the above discussion, it has been analyzed that Silver chef group became a certified B corporation because it delivers social, environmental and economic benefit for the society of the Australia. The value of the company is to get success based on economic profitability and global business benefits. Silver Chef mainly focuses on creating a culture that motivates and engages employees. Company provides a proper training and development program to help the employees so that they can be able to achieve the goals and objectives of their life. Apart from this, in the case of customers, they found the company best in the term of customers loyalty and customer services. Further, Silver Chef Group is adopting green practices to protect and keep the environment safe. It also has been observed that the company has strong financial stability with the good returns for shareholders. There are some points that the company needs to focus for more success such as Company need to focus on the cash inflow more than cash outflow to pay the dividends to the shareholders. With this, company should be prepared for the recession because if the economy falls down then company will not be able to give rent to the customers. Coming down to the marketing strategy of the Silver Chef Group, company has specialized team for social media marketing. The team has all those skills such as writing, editing, photo editing, and respond in real times which are required for social media marketing team. Company is focusing on facebook for social media marketing. Along with this, company is using food photography for promoting its business among the customers. Thus it can be seen that Silver Chef is honest and always shows transparency with its business. It is working properly for the social and environmental factors with the B Corp certification. The given social media campaign would be a consulting offering for the company. 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