What Is Cango's Lack Of Business Strategy

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Team Video Analysis Report Week 2 1. Issue: Can Go's lack of business planning and structure. CanGo needs to create a Strategic Management Process. Although Can Go has managed to become a successful company without plan this far, in order to maintain their success and/or take their company to the next level they need to create plan. Recommendation:Create mission statement for the company.In the video where the Director of Financing, Clark and Director of Accounting, Ethel were having a conversation about whether Can Go should venture into online gaming, they were both very concerned. They were completely unaware of the reason why Can Go would want to start online gaming. A mission statement would help provide visibility of the company’s…show more content…
Threats: Having a lack of long-term business strategy gives CanGo no direction. The risks to the company become much greater with no planning and risk management being done. CanGo needs to be run in less of an emergent manner. A total aversion to any type of planning at all will be a glaring threat to CanGo. 3. Issue: Can Go’s lack of Financial planning. Since a financial plan is the section that determines whether or not your business idea is viable, and is a key component in determining whether or not your business plan is going to be able to attract any investment in your business idea. Recommendation:
Can Go should analyze and evaluate their financial status. All financial data should be collected from previous years to determine what goals the company has for the online gaming product. This included manpower and equipment. Also understanding a time frame for results and discuss all possible risk. Can Go should also monitor the progress to determine whether other measures should be taken and reevaluate the previous financial plan to make…show more content…
Warren needs to figure out what is the least and most important to him when comes to cost, time and performance. Then a work breakdown structure must be created to breakdown deliverables into work packages. These work packages should then be assigned to internal Can Go employees as well as outside resources if necessary. This will allow all Can Go to monitor project progress. Communication and risk management plan should also be created to respectively ensure open communication among appropriate individuals and mitigate possible issues that may arise during the project. 5. Issue: Can Go’s lack of Scheduling. CanGo has a lack of scheduling when it comes to setting timelines. The online project needs to be scheduled in order for the end result to be successful. Each process needs to be planned by priority. The company will need to determine the short, medium and long term plans. They will also need the to-do-list, deadlines and overall

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