As in this competition era lots of small businesses are running in this time. So, one of them we are going to explain. Here, we are going to explain about a small business. Company has been doing a business in hardware and software area. Apart from this, management wants to expand business in various levels. A management of this company need to make focus on inventory control, sales, profit, facility for customer and main an essential thing is an order checking. More over, a company has major challenges from competitor in a same market place. As per data indication, competitor has efficient structure, higher quality product, various systems compare to this organization and all these sectors are ample for to attract a customer in business. On other side, company has been facing problem with own existing system. Like, stock management, customer relationship management and main issues with an order handling. Conversely, company has strength in a business like, unique service, higher level of employees and other facilities. So, an organization has been facing all these issues in this current time period. On the contrary, a management try to do some diversification in business with use of some strategy and technical tools. And try to grow up business up to some extant.
Research Back Ground In this competition environment for any business whether it belongs from small company or multi national industry competitor always rise in same market place. And create a competition in business environment. But, only few of them can get succeed in this area with prop of their extremely higher level of management and qualitative strategy. As we have seen that company has problems with its exiting system and business is not handled by management in well manner. First of all, SWOT analysis will reveal a description about company or this analysis will show mirror of exiting system. As we know that S indicates Strength of company. For this company its own reputation in a market place and main an essential thing is a best level of customer service and giving qualitative service. Apart from this, an organization is providing other facilities compare to its competitor. More over, weakness and Threat indicates internal problem in this current system. Other side, with prop of some management strategy and implementing a tools will create an opportunities for this company.
Problem Identification As we have seen a structure of a company and challenges from its competitor. In addition, we saw a company has some strength. But, here Weakness and Threat for this current exiting system can easily identify. In addition, company has many problems with its exiting system. Fristly, major problem with this exiting system is an if we talk about Stock Management. In addition, management not taking aware about this vital issues which will influence in a future for business. Still a management not applying any new strategy to grow up business in right manner and it's an extremely high issue for business. Especially when we compare with a future direction. More over, information reveals that company has been facing problem with some order checking or other words to say that, company has all manually system instead of any small tools or any data base where they can keep all information about ordering and also get all record about selling product. In addition, this organization has manually system which is difficult to handle especially when we talk about some invoice and re checking a system. Last but not lest, an organization has problem with it's less working hour. Finally, stock management control creates interrupt in current time. Apart from this, an organization also facing some challenging from it's competitor in same market place. Because of, in a same area other challenger runs business in same market. And they have better structure of organization, qualitative of product and unique product compare to other challengers. In addition, competitor applying different level of strategy to run business successful in a challenging environment. And they believe to do some diversification in business sector which is one of the higher threats for this organization. Thus, this organization has many problems in this current system and with lack of service, pure management pushing this business in to a downside.
Recommendations As we have seen that company has been facing many problems in this current structure. And create worth situation for them. But, a management need to bring some strategy for better future for this organization and create an opportunities for a business in this competition era. Firstly, as we saw a company has problem with its own stock management. In addition, a management needs to bring some unique strategy which will influence on business sector. As we know that, this company business totally related with computer hardware and software. So, this type business all transaction handles in day to day. In addition, transaction always day in and day out format. Apart from this, all decision has been taken a short time. Thus, with prop of Working Capital Cycle a management can get right and proper solution for this company. In addition, as per data which shows that an organization has major problem with its stock management. So, with prop of this method we can get easy solution. A management of this organization needs to develop "Reordering and Rechecking ". With help of this strategy a management can take decision related with stock control and ordering a new stock. Secondly, other issues which creates an interrupt in business sector. An organization has major problem with its lower level of qualitative service. It means that it's current manual system which creates a worth situation for this company which is an extremely dangers for this business. Because of, company belongs totally in technical environment .so, company need to develop some tools with prop of that they can manner some financial data and also does some diversification in business sector against it competitor. Moreover, company facing major problem with its management. That's lack of bring strategy in business. Company need to make focus on some market segmentation which will bring a some opportunities for business. It means that a management of this company need to make focus on demand forecasting which indicates a customer demand in a business. And it has direct relation with Working Capital Cycle. For instance, management should know about demand or product and type of demand. It means that if younger customer visiting more compare to other customer then management need to keep some game zone area which brings more customer in a business and grow a business in right and proper way. This is ultimate goal for any organization. Finally, according to a company's issues a management need to develop this strategy to grow up business in perfect direction. Last but not least, with prop of some strategy company need to do some diversification in business which will be helpful in a business level. Especially against competitor a company can get more benefits. And a management need to create CRM (Customer Relationship Management) with them. And always try to fulfil customer satisfaction. Because end of any strategy or any business plan base on customer satisfaction from company. Thus, company need to develop all these strategy to bring tremendous opportunities for business sector.
Change management As we have seen that, company has major problem in a current framework. And an organization has needed to change or modify structure in proper way to run business in this competition era especially against business enemy. In addition, we saw that an organization has major problem with forecasting or stock management. And as we recommend that a working capital cycle is a best and east strategy to check each stock. Apart from this, a management should aware of how to develop and apply in a business? Because of, this strategy has relation with business diversification. It's risk for business as well. If a management has lack of ability to handle a business in right and proper way. Apart from this, as we recommend that a business need to focus on some diversification in business sector really that type of business strategy brings a revolution in business environment. Especially when an organization wants to grow a business in right and proper direction. Because of, diversification strategy indicates that a management need to launch totally unique different product compare to other competitor. Which will brings a opportunities in a business level. More over, we can say that a company can create way to achieve goal in right direction with prop of this strategy. However, a major risk for this strategy and that is a lose business. With this strategy plenty of risk brings in a business sector and a little decision can influence in current position and also impact on a future situation in this competition environment. As we know that company has manual process whether it's related with its customer information, ordering, rechecking etc. and so, management needs to implement a tools which will handle data base of customer, order etc. so, on that base level they can keep each and every data which will be useful for business in right. Moreover, if we talk about business sector then for this organization has to develop a tool which will utilize for keep data records and for other system task as well. So, that is main and essential benefits to build up this task in business sector. However, for this type of tools are very time consuming and also up to some extant difficult to handle for operator. and main an important problem with this is need to employee a staff to develop a tools. This is really difficult to a current situation in business. Thus, a management of this business need to change a structure of a business with prop of some business strategy which will change a framework of business and create bright future for company or organization. However, all these things depend on how a management develop and adopt in a business in various level. Finally, qualitative strategies change a structure of business in different ways. And also create right way to achieve goal.
Conclusion As we saw that to run a small business in this competition it's really difficult. Apart from this, we also seen that how a management for small business need to develop or grow a business in various level with help of strategy. In addition, we cover all information related with small business environment especially against in competition environment. And shows that how a management of small business develop a diversification in business. How to useÂ SWOT analysisÂ to drive your business forward.Â ...Â Signing up to the is4profitSmall BusinessÂ Newsletter or; Entering your firm's details into theÂ ... www.is4profit.com/HYPERLINK "http://www.is4profit.com/business.../business.../swot-analysis.html"businessHYPERLINK "http://www.is4profit.com/business.../business.../swot-analysis.html".../HYPERLINK "http://www.is4profit.com/business.../business.../swot-analysis.html"businessHYPERLINK "http://www.is4profit.com/business.../business.../swot-analysis.html".../HYPERLINK "http://www.is4profit.com/business.../business.../swot-analysis.html"swotHYPERLINK "http://www.is4profit.com/business.../business.../swot-analysis.html"-HYPERLINK "http://www.is4profit.com/business.../business.../swot-analysis.html"analysisHYPERLINK "http://www.is4profit.com/business.../business.../swot-analysis.html".html Working capital cycle. Introduction. TheÂ working capital cycleÂ can be defined as: The period of time which elapses between the points at which cash begins toÂ ... tutor2u.net/business/finance/workingcapital_cycle.htm Analyse yourÂ businessÂ and markets to identify new opportunities and devise a strategy. www.businesslink.gov.uk/bdotg/action/detail?itemId...type How and when toÂ diversifyÂ into new products or services and markets, the risks and the rewards. www.businesslink.org/bdotg/action/detail?type=RESOURCES...
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