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Background
Though once seemingly having died down, the tidal wave of environmental concerns has returned in 2010s. As a result, the need for raw materials retrieved from recyclable products has emerged once again (EPA para. 1). Based on the recent data concerning the demand for recycling organizations that supply the raw materials for the corresponding companies, the global market in general and its American segment in particular needs a strong leader in the plastic recycling field (EPA para. 1).
Pricing Strategy
It would be wrong to claim that the U.S. Recycler is the one-of-a-kind organization. Therefore, the company complies with the principles of a rather basic pricing strategy presupposing a range of price reduction options for the customers in addition to rather reasonable prices for the product ($0.75 per 1 lb. or the product). Discounts will be provided to regular customers; moreover, seasonal discounts will also be included into the organization’s policy.
Opportunities
Because of the recent tendencies for supporting the environmentally friendly policies and the concern for the effects that improper waste disposal has on people’s health, the U.S. Recycler is bound to become a part and parcel of the functioning process of the American organizations producing plastic goods.
A close proximity to the key target customers (Capital Plastics, Washington Penn Plastics, etc.) and a reasonable pricing policy coupled with the quality of the product will provide a smooth ground for the organization to commence its growth. Moreover, the unique element included in the company’s production process (i.e., the use of ionic liquid as the catalyst for the transformation of nylon-6 to caprolactam (Kamimura et al. 3)) will galvanize the sales and make the organization easily recognizable.
Risks
Needless to say, the creation of the company may spawn certain risks, the risk of being surpassed by a more superior organization being the key one. Indeed, a closer look at the landscape of the American industry will show that the market is filled with firms engaged in recycling business, e.g., Murreys Disposal Company, Inc.
However, the market has not been saturated with the product quite, which means that the U.S. recycler may locate a comfortable niche to fill by introducing unique elements into its production process, such as the use of ionic liquid.
Risks Management
In order to avoid the possible financial risks, the U.S. Recycler will have to consider the idea of partnering with another business as well. In the light of the company’s operation specifics, one may suggest following the split liability principle by sharing the key risks with a transportation company (Rejda and McNamara 483). Thus, the retrieval of the target raw material (plastic) from the suppliers will become much easier and more comfortable for both the suppliers and the company.
In addition, the possible loss exposure may be reduced quite a few notches with the help of the capital budgeting strategy (Rejda and McNamara 78). Thus, the company will be capable of detecting and choosing the capital investments that it should make in order to retain its target audience.
The last, but definitely not the least, the need for creating a strong and efficient leadership strategy will be required. Incorporating the key elements of transformative leadership style and the laissez-faire one will allow for the maximum flexibility with a subsequent powerful reinforcement of the staff’s professional responsibility.
Works Cited
EPA. “Recycling Market Development.” United States Environmental Protection Agency. 2015. Web.
Kamimura, Aklo, Shigehiro Yamamoto, Natsumi Oyama, Hiroki Okagawa, Makoto Yoshimoto and Kouji Kaiso. “Combination use of ionic liquids and microwave irradiation: a new method for feedstock recycling of polymers.” 9th Green Chemistry Conference. Spain: Alcalá de Henares. 2011. 1–2. Print.
Rejda, George E. and Michael J. McNamara. Principles of Risk Management and Insurance. 12th ed. Upper Saddle River, NJ: Pearson, 2014. Print.
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