Acquire or Develop Talent Tanglewood should acquire talent, because it wants to keep performance and customer service at high levels. In addition, while old stores under Tanglewood have the same basic look, the management styles and human resource can use some improvements. Acquire talent is very helpful for new stores, because employees would “hit the ground running” and be at the peak performance the moment they arrive. Hire Yourself or Outsource Personally, I think Tanglewood should hire itself. Outsourcing is more practical for small and medium companies.
Short vs. long-term focus In the case of short or long term focus when it comes to employment, it is my opinion that it depends on what you are looking for. However, it is my opinion that for your particular company a long-term focus would be better of for you guys and will help you grow faster and have a solid and consistent mission throughout your regions. I believe that having a long-term focus and investing in developing your talent will result in having great managers that will pass on the culture of the company to their employees; in whichever store they happen to be placed. Since one of the concerns for both Emerson and Wood was the lost of the company core values as a result of expanding, I believe that having a long term approach to employment will assure that those who stay with the company pass on those values to the next generation of
How will the initiative affect sales? Describe risks associated with the initiative and financial effects they may have. Starbucks Strategic Initiative Your Name Here University Name FIN/370 Date Instructor Name Here Starbucks Strategic Initiative In this paper, Team C will describe the relationship between strategic planning and financial planning for Starbucks Corporation. The first topic covers Starbucks strategic planning initiative and identifies a strategic initiative discussed in the organization’s annual report; from this report Team C will describe how this initiative affects Starbucks financial planning. Team C will break down and address how Starbucks initiative directly affects costs and the sales of the company’s financial plan.
With a solid financial plan, the organization can tackle initiatives without the organization finding itself in so many debits they cannot recover. Initiatives can also affect a company’s financial planning, just as it affected Starbucks initiatives. Howard Shultz, the CEO of Starbucks stated, Starbucks has initiatives and plans that include increased stores, operating efficiencies, decreases in cost, and even more long time growth for Starbucks (Starbucks, 2011). In order for Starbucks to increase stores, decrease cost and increase operating efficiencies, they had to create a financial plan for this initiative. When a company, such as Starbucks, starts financial planning, it begins with a firm’s working capital to achieve the company’s goals and initiatives.
The growth strategy of capturing market share and growing revenue to increase business presence in the market was achieved for Service Experts. When the founders though that they had a proven business module and growth strategies in place they decide to take the company public to further increase capital and obtain growth. All of these strategies proved to be a win success for the company, for it grew to revenues of $60 million after going public. What did Abrams franchise? Why does the research show that buying a good franchise is less risky than starting a business?
The management team needs to understand that “change is an ongoing and never-ending process of organizational life” (Van de Ven & Sun, 2011, p. 58). After showing the team where they are the next step would be to show them where they can go if they make the necessary changes. During the future state presentation, an outline of how business would increase and improve statistically. Companies often require visual and the future state presentation would provide several visual chart reports showing the company how they will improve their marketability by implementing project management functionality. The increase to employee morale and production would be the closer to this presentation.
Set a pace of growth that will be sustainable, that will not rock the company to the core and in process set it back. BKD has learned this lesson from previous experience that put them in bankruptcy court. While implementing changes that will allow BKD to grow, the change managers and other managers within the company are setting a sustainable pace, one that the associates can grasp the change before others are thrown at them. Change is a way of life in the BKD organization, one that all associates strive to make a better place not only to work but to live. The vision and mission of the company are important components of any change that is implemented and by keeping them in mind, will allow the company to achieve the goal of being the leader in health and wellness for the
The store has not been able to bring in the same return on investment as the first location. One of the major problems seems to be the median household income for the new location doesn’t support the exact same business model. Kathy should have done more research on the new location to determine customer needs, income level, and population. KFF’s strategic plan was not implemented until 2003, so it appears market research was not conducted prior to expansion. The Del Mar location is at the break-even point, it appears the local economy may not be able to handle the same type of business opportunity as La Jolla.
Your shoppers must always be able to find these necessity items in stock whenever they are needed. These much needed products include household cleaners, health and beauty items, paper products and food items. As the current market structure of the dollar general store is important we look at the effect of government regulations. As seen in the last couple of years, DG has started offering advanced in-store services to their employees which in turn is passed to the consumers. However, more services can be added to attract consumers the best thing any business person can do is to get familiar with the country that you’re targeting.
The vast majority of companies that move in the direction to achieve sustainability also have enhanced profitability. Sustainability offers a firm new ways to protect their business from environmental, financial, and social risks, to run a company with greater efficiency and productivity, and to grow a company through the development of new products and services and the opening of new markets (Savitz, 2006). A firm can protect their business operations by conducting a thorough analysis of assessing the baseline. A company needs a clear understanding of where it is before figuring out where it needs to go. The thorough analysis of the firm’s environment will help identify risks that may be harmful to the employees, customers, and communities, as well as management failures early.