There are number of issues that the company faces in implementing a workforce plan to achieve this objective. The main issue to take into consideration is the financial position and the cost. From the case study we cal clearly see that they have cash flow problems and limited financial reserves. In order to achieve their objective First Car Plc should have sufficient financial resources which need to be guaranteed so that the workforce plan can be implemented fully. Without the resources the company cannot be effective, this means this means that First Cars plc would also have a shortage of cash flow, because of the amount of money being used to start-up this proposal.
Weaknesses for the Korvette Company played a major role for their downfall in the business world. Lack of management stabilization was a key weakness area for Korvette. Not having a consistent team to manage all the storefronts made it difficult for the company to keep track of sales and the sufficient training needed to operate under the original format. The inability to cope with all the changes and additions to the company also caused the company to struggle. As a company try to grow and expand their business, the proper team must be in place that specialize in key areas they want to expand in.
Despite the desire to expand and value creation through quality difference, Porcini was aware of the challenges it will face. Could its limited menu at a moderate price be profitable without endangering its excellent reputation? Another challenge that Porcini faced was whether the company can actually maintain the remarkable high standard of service. In addition to profitability, reputation and service standards was if Porcini will be able to break into a market with established competitors profitably. Porcini being a privately owned enterprise at a slow growth needed to establish a brand name.
Key Issues:- Although Thembeka has set up a good business in the field of jewellery but their some challenges that company were facing during their supply chain. Vonkel has to consider all those challenges before expanding their business. Following are the issues of Thembeka that they were facing:- 1. They were unable to locate the stock efficiently from their inventory which resulted in frequent stock out during the peak demand periods. In this case their inventory is placed in various outlets.
It compares all outgoing funds with the incoming to determine whether the business is in front or struggling to keep up. It's important to understand the cash flow and to understand the items that need to be listed in each category. It's also important to understand when these transactions are taking place. There is the chance that a customer has bought an item but takes a long time in paying it off. Although you might have made a profit on the sale of the item, there is a cash flow gap as you have not yet received the funds to pay for the item yourself.
A business plan is the ‘road map’ for a business future growth and development, however, the importance of a business plan is frequently underestimated in today’s corporate society; where some fail to produce a business plan and some don’t plan well enough. ‘Business doesn’t plan to fail. They fail to plan’ – this effectively describes the nature of today’s corporate world. It is essential that future business owners and existing business owners understand and establish an extensive business plan outlining its goals, operations, marketing, finance and human resources in order to ensure ultimate business success. The business planning process is not easy and can be quite time consuming.
The two remaining industries, North American and International bakeries seem less attractive, but these may pick up again down the road. Sara Lee bakery products do carry name recognition, but they also carry the price to go with it. Consumers who are trying to get more for their money are more likely to
Now add on a hefty credit card bill to that amount, and you will find yourself in an extremely difficult situation financially. Credit cards should be used as an alternative tool for purchases. If food, clothing, or books is needed, charge it. Unfortunately, credit cards are not that evident. Once approved for credit, there is a limit of course, based upon yearly income.
Knowledge is power and for retailers, product knowledge can mean more sales. It is difficult to effectively sell to a consumer if we cannot show how a particular product will address a shopper's needs. One of the most important stages of selling is closing the deal, which are the actions taken by the sales person to gain agreement to the sale. There are many closing techniques in sales, which are prescribed actions that sales people take to persuade the customer to make the necessary commitment. No matter how hard you work, how well you prospect and qualify and regardless of how well you design solutions for customers, if you are weak in closing sales, you will suffer in the sales career.
There are some disadvantages to using activity based costing. One of the biggest disadvantages is that for an established business it is very costly to start up and implement the activity based accounting system. Unless you are in in a common industry many times the program has to be developed as you go to suit the needs of your business. Sometimes activity based accounting does not always conform with GAAP. If this is the case and the company really wants to use this system they will in turn operate with two accounting methods.