Without increasing the number of employees, it is very hard to believe that the company's growth objectives will be achieved. Once a business is expanding, the necessary of human resources increases as well.
The second recommendation refers to the company' advertising methods. Currently, the company uses word of mouth as main advertising method. This is a very effective tool in terms of cost and results when it is used by a small business. But if the company is planning on expanding, other advertising methods will be required.
Another recommendation is related to the company's image. The company is trying to portrait itself as a friendly business, close to its customers. This method works very well in case of private individuals. But given the fact that the company addresses businesses too, it is recommended to add more seriousness to its image.
Also, regarding the company's prices, it is recommended to continue the direction that the company currently follows.
Section 2 - Maintaining Performance
One way of maintaining the company's current performance refers to continuing the current financial strategy. Also, the pricing strategy seems to be working for Lings Cars, and therefore, the company should continue following this direction. In order to increase the company's current performance, certain financial investments are required. The most valuable resource the company should invest in...
Small Business Plan A Business Plan for the Reorganization of a Small Restaurant Company Overview & Strategy Revised Statement of Mission and Vision Mission Statement Vision Statement Product and Service Marketing Macro Environment Target Market & Customers Facilities Business Performance Analysis Strengths Weaknesses Opportunities Threats PESTEL Analysis Political Economic Social Technological Environmental Factors Legal Factors Financial Projections Risk Analysis Action Plan The Hometown Grill is considering making changes to its menu to become both healthier and more sustainable. Several lines of investigations were conducted including an industry overview analysis, a PESTEL analysis, as well as a
Venture capital is the money that businesses get from investors to start or continue a business. Ironically the advantages of a business plan are also correlated with some of the disadvantages of a business plan. For instance, a book entitled Under the Radar: Starting Your Net Business without Venture Capital, Venture capitalists often find that many business plans are too optimistic (Kling 2001). The book asserts that, Trying to obtain venture
Market Analysis The third principle, that markets that don't exist can't be analyzed, reminds managers that assessing the effects of disruptive technologies is often counter-intuitive to good management practice. Many companies require the development of a business case and a business plan for new products. This approach is generally very successful when applied to sustaining technological innovations, because the market is well-known; however, when companies apply this strategy to new, emerging
Small Medium Enterprise Set Up Mission statement Business goals Marketing Market research (location and size of market) Market segmentation (which segments will you target) Marketing plan Products/services and target market(s) Placement Promotions and advertising Pricing policy Evaluation of marketing Operations Legal and licensing requirements Organisational structure and staffing Insurance and security issues Business premises Equipment required Production process Critical risks/contingency plans Financial projections Capital expenditure forecast Sales forecast Cash flow forecast Projected profit and loss statement Owner's personal expenses (continued on next page) Environmental responsibility and Eco-sustainability Implementation timetable Conclusions and future directions Executive Summary Business Plan Structure The business plan
In case the lender makes approval of the loan, depending on a SBA guarantee, an application copy as well as a credit analysis is sent by the lender to the SBA Office which is nearby. After the approval of the SBA, the institution of lending readies the loan and makes funds disbursal. The borrower makes loan payments on a monthly basis directly towards the lender. Similar to other loans,
particular types of businesses (for example, convenience stores or auto dealers), Federated emphasizes macrosegmentation. To further sharpen strategy, suggest possible ways that particular macrosegments could be broken down further into meaningful microsegments. Different businesses have different needs. For example, jewelers have a specific need to insure high-risk goods which can be stolen and thus need casualty insurance to protect these vital assets; auto dealers may likewise need to insure their
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