- Free Essay About Kellys Business Short Term Goals
- Growth Strategy
- Place: Currently, the company has a offline place strategy and it will remain the same for a specific time period
- Business Form
- Financial Assistance
- Organizational Structure and Staffing Needs
- Customers and Promotion
- Ethical Issues and Social Responsibility
- Work Cited
Free Essay About Kellys Business Short Term Goals
It is a true fact that every organization strives hard for the economic based prosperity. Usually there are two different line of goals found in an organization which particularly are short term goals and long term goals. The line of strategies and corporate moves of small businesses are totally changed as compared to the big businesses (Colin Hales 2001). Obviously, the corporate strategies of big businesses are to achieve the long run prosperity while it is for achieving short term goals for small businesses in total. When it comes to organization, thenthere are certain things which come under the ambit of the same.
The main theme of this paper lies on a certain case study with the name of Kelly’s Business. Everything, advice or recommendation which would have been given and proposed in this particular document is merely to strengthen the business of Kelly comprehensively. There are number of sections of this analysis which would be transforming into an effective business report.
The growth strategy of a company is extremely important from the viewpoint of an organization, and it is more than necessary to have effective growth strategies as far as enhancing the portfolio of the businesses are concerned. The real productivity or growth of a company lies in four dominating facts which particularly are, product base, pricing base, place base and promotion based (John Rossiter, Peter Danaher 2005).
Product: Kelly has to check the demand of the product/service which they are intending to launch in the market. It is always important to fulfill the gap of the market completely and comprehensively, therefore Kelly has to search the market and then launch its product to compete with other companies operating in the same line of business (Matteo Fabbi 2013).
Pricing: As the company is new in the business, hence it is extremely important to have a perfect pricing strategy in particular. The pricing strategy which the company should adopt is “Penetration”, which is basically lower pricing strategy because the company has a low goodwill in the market.
Place: Currently, the company has a offline place strategy and it will remain the same for a specific time period
Promotion: Kelly has to use both electronic and paper medium to promote their products to the general public which will certainly help out the company to become economically active
Currently, Kelly has to open a partnership business, in which there should be certain amount of partners are there. Currently, it is important for the company to expand their market in the domestic market and then enter in the expansionary based international market. This particular form of business would be effective for the company because it would increase the level of initial investment in the company which would be perfect for the company in total (Matteo Fabbi 2013).
There are some pre-requisite for a start up business and owners have to use the same for the prosper growth of their business. Both short and long term prosperity and expansion is important for a business and the ling of strategies also varies parallel to the company’s objectives (Matteo Fabbi 2013). Financial based assistance is extremely important from the standpoint of an organization to become economically and strategically fit, active and prosper too. Under the ambit of financial based assistance, the name of capital is one of them.
Generally, there are three options are there for a company to increase their capital which particularly are, owner’s own capital, granting a loan from a bank or to start initial public offering (IPO) to spread the shares of the company in the capital market (Matteo Fabbi 2013). Kelly is strategizing to achieve the short term goals, hence owner’s own capital option is the best, as short term investment is required for the business of Kelly, and this option can fulfill the appetite of the company accordingly and effectively at the same time.
Organizational Structure and Staffing Needs
Employees deem as the most important personnel for an organization and employees have been referred as the backbone for an organization (Matteo Fabbi 2013). As a new business, Kelly needs to organize their employees in a perfect manner. First of all the company has to made certain teams in which different members would have been categorize according to their experience, education and other aspects. It is important for Kelly’s business to have a perfect hierarchy, in which every subordinate is obliged to report a certain person or authority (Jim Surmanek 1996). The best way to organize and orient the teams is to isolate the members and then check out the skills, education and the passion towards work and then make such a team in which relatively weaker members are also present because these weaker incumbents then learn number of things from the stronger candidate, which would be equally beneficial for the company. Training and development is also an important provision from the viewpoint of organization, as it is something uses to direct the performance of the employees of the company in particular. Operating in this way could certainly help out the company in achieving its short term goals with effectiveness and with ease.
Customers and Promotion
Customers are the end users of an organization and whatever an organization does is merely to enhance the productivity of their customers effectively. Kelly is new in the business and they have to deal their customers with perfection and with utmost care (Jack Zanville Sissors, Roger Baron 2002). There could be number of types of promotion based campaigns which have to be considered by Kelly, as far as attracting the consumers is concerned. First of all the company has to apply the promotion product like buy one get one free offer and should consider cheaper marketing campaigns predominantly on the social media to increase the awareness of their product and service among the end users.
Ethical Issues and Social Responsibility
It is extremely important for a business to comply effectively with ethical norms and regulations in order to mitigate the level of issues effectively. Adherence with the Corporate Social Responsibilities (CSR) could be extremely important for the companies to pursue (Jack Zanville Sissors, Roger Baron 2002). Kelly has to assure that their business and end products would not derail the motivation of any community and would not harm any person from any aspect. The company has to respect the ethical and religious beliefs of their consumers (Richard Lee Ehler 2010).
It is vital to have certainly points to enhance the productivity of a company in short term basis. Kelly business which has been analyzed in this particular analysis would certainly get added advantage particularly in the short run with the above mentioned recommendations, strategies and advices and it would be perfect for the company to stay in the same consideration to become economically and strategically active.
Colin Hales (2001). Managing Through Organization: The Management Process, Forms of Organization and the Work of Managers. London: Cengage Learning EMEA. p12-16.
John R. Rossiter, Peter J. Danaher (2005). Advanced Organizational Goals, Volume 1. Chicago: Springer. p26-32.
Matteo Fabbi (2013). Brand Activity Analysis. New York: GRIN Verlag. p10-18.
Jack Zanville Sissors, Roger B. Baron (2002). Advertising media planning. Houston: McGraw-Hill. p34-42.
Jim Surmanek (1996). Organizational Planning: A Practical Guide, Third Edition. Dallas: McGraw Hill Professional. p50-62.
Richard Lee Ehler (2010). Advertising and Organizations, Seventh Edition. Houston: McGraw-Hill Education. p66-79.