Designing a realistic, reasonable, and incentive strategic plan is crucially important for any business enterprise owner. This plan should include numerous important details including regulations and programs offered to employees, motivating strategies for employees, and reporting requirements which might be implemented in case of some problems emersion. In the following paper, an example of such a business strategy for an enterprise with 15 employees will be developed.
Generally, it appears that with finding more efficient ways of marketing along with the wise advertising company, the enterprise under consideration might become a successful and flourishing company occupying new markets making the work of sellers easier and more efficient; in addition, the company’s employees are to be offered due conditions for developing creative spirit, flexibility and love and passion to their job.
First of all, the enterprise which is going to be addressed in the business strategy is to be described. The enterprise works in the area of women’s tights sales. In particular, the company is meeting women’s needs for tights and related goods. Their target customers, as a result, are women, and the value proposition is seen in a great choice and good prices. Regarding the competitiveness of the product, it should be stated that it is rather high as well on the reason of such important factors as price and rich assortment. The enterprise employs fifteen people.
Next, the business strategy in itself is to be discussed. To begin with, the “employee” policy is to be addressed. With regards to the programs offered to employees, it should be stated that they are sales-oriented as the vast majority of the company’s employees are busy in the area of sales. The workers are to be offered a flexible system of bonuses in case their sales are better than in the previous periods (Bullock 2012). This system is to be graded from 0 to 15%, from 15 to 30%, from 30 to 45%, from 45 to 60%, and finally from 60% and above. In all these categories, a different bonus is to be offered beginning from 5% of the total sales turnover and then with the step of 5% more for each category respectively.
Further, with regards to the requirements for employees’ involvement, it should be said that the company’s success at this market is mainly gained by its managers who are to acquire considerable experience in showing creative spirit, flexibility and love and passion to their job. In any business, it is highly important that the employer preserves a good working mood and formative atmosphere among one’s employees’ as in the case of failure in this area the company may eventually suffer great material and reputation losses.
Finally, addressing the reporting requirements in case of dispute with management, and unethical behavior or practices in the organization, it is important to specify a few major areas. To start with, the company strategy should be added with the supply chain management enhancement in order to make it efficient and minimize all the possible operating expenses. In addition, the financial management of the company is not to be too much focused on paying the personnel, but it should have significant expenses for an advertising company. “Advertising is the engine of commerce”, everybody knows this simple truth.
How many companies have proved the truthfulness of this saying! Only wise financial management focused on aggressive advertising companies can prove to be successful (Batt & Appelbaum 2010). Inventory management is to be regularly developed as well. The company is to offer new products as the market never stays the same; the more new products and services are offered the more the customers are attracted. This tendency is even explained by the psychological peculiarities of people as they always want something new and unusual. Major opportunities for the development of the company are also connected with the goals for its expansion into new territories.
Further, it is universally accepted that the main objective of starting any business is to maximize profits (Barrett 2012). Thus, the advantage of using larger retailer nets is the reduced costs and increased customer service level to one or all the acting members. The retailers’ outward delivery costs will be reduced and hence there is an advantage when analyzing one’s profits.
This paper has identified the way the market and economic conditions, along with the impact of modern sales technologies affect the viability of the company products along with their costs. Concluding on all the information related above, it should be stated that the company under consideration specializing in women’s tights sales, can be evaluated as a company with good perspectives and significant potential.
In particular, with implementing successful retailing management and financial politics, the case would likely have developed in a very profitable way for the company. Finding more efficient ways of marketing along with the wise advertising company, the company might become a successful and flourishing enterprise occupying new markets and growing on a regular basis. In addition, the inventory sector of the company is also to be regularly innovated in order to provide the best quality and design product for its customers.
References
Barrett, R. (2012). The New Theories of business. Web.
Batt, R. and Appelbaum, E. (2010). ‘Globalization, new financial actors, and institutional change: reflections on the legacy of LEST’. Paper to Colloquium, Université de Provence.
Bullock, R. (2012). Employee vs Employer Opinions. Web.