Running Head: Individual Analysis Report Overview After reviewing the material of Cango thus far one is able to see that the company is well established.
The CEO has been chosen as the business Leader of the year in Hudson Valley. Julian telephoned Liz with the new and she was elated by the news. With this said Liz is expected to give a speech that entails how the company has become successful. Liz is not keen on the idea and was eager to give up on putting the speech together since the company really lacked in strategic planning.
Even though the business has become one of the most successful small businesses in the rea Liz did not know how to deliver the speech. The speech that Julian referred to was expected to demonstrate how this little eBusiness became such a huge success.
They wanted her to tell how she strategized and what game plan was utilized. Liz was so uneasy about this because she knew there had not been a real game plan Just trial and error. She was proud of her company and thrilled with the overall success. Liz did deliver a speech, but afterwards was not feeling as she did a very good Job.
She compared their business to a mouse and cheese talking about not building a better mousetrap.
Liz sat in her office after giving the speech obsessing over the public announcement. She did reference that hind sight is always 20-20. She feels that the success was accidental, but is contemplating how can they move forward and continue to be a profitable company. Liz was already planning to delve into a new market. During a meeting Liz exposed the idea of entering a new market. The group never really discussed whether or not to move forward in the new market, or what affects it would have on the company.
Communication is key in any company. Without the adequate communication people within the company do not necessarily eel that their company is concerned about what they feel. This left some of the staff uneasy regarding the new venture. One staff member was left feeling uneasy about the future of the company. She asked another where he seen the company heading with the new venture Liz mentioned.
Instead of a strategic plan, Liz stated that Andrew will put together a preliminary marketing plan. This left some of the team members feeling uneasy about the company’s financial woes since they are still in the red.
Warren was eager to move on with the online gaming market, and went to Nick and requested that he put together an implementation plan that would cover all areas of the online gaming. Warren made sure to stress the importance of this project as it needed to get underway very quickly. He explained to Nick that this needed to be his top priority and nothing should distract him from this project.
Warren made sure to mention what areas needed to be covered in this presentation. This would include things such as the hardware, software, bandwidth and licensing.
Of course these are only a few of the areas that need to be looked at. Each are hould be researched thoroughly in order to get an understanding of what needs to be done to successfully begin marketing the online gaming. Nick seems excited about the task, but also overwhelmed.
His desk is covered with so much work that he is not jealous and as she takes him work that needs to be completed she makes reference to how organized he is and tosses work onto his desk. It appears that there is no love lost between these two for sure.
The only problem is Nick gets the task but is least organized and has no idea where to begin. He is offered some assistance with organizing the project. Debbie offers Nick a hand with some organization skills.
She helps him discover how to use a Gantt chart. Nick makes a bit of a Joke in regards to the Gantt chart that Debbie references. She also helped him organize his stack of work that is on his desk. In doing this they prioritized his work load and then scheduled each task accordingly using a planner. Debbie was able to help Nick develop an adequate chart and demonstrate what should have the most focus.
Nick fails to use adequate methods, but with help he will improve. This is where some interoffice training could come into play. The online gaming implementation needs to e done right away because the date to go live is in only five weeks. This presentation will demonstrate each of the processes that need to be looked at. The analyzing of each process will allow them to be broken down into more detail.
Warren has come to the department with new information regarding their projected increase in business. This brings about more tasks, such as scheduling, deliveries, and order fulfillment.
This means that the team has a lot of other research to do as well. Now they have the online gaming implementation to do as well as come up with the information needed to assure the readiness of the influx in business. They need to look at their finances that are available to assure they can handle the new inventory needed. They have many things that need to be done to accommodate their influx in business.
The storage and shipping process are only a few, but this indicates the possible need for a larger warehouse and more trucks to handle the shipping.
The company may also need to hire more staff. Financial planning is where they will fgure out what they need to do in order to make these things happen. Will they need to borrow from somewhere or sell off something in order to handle this expected change? The team is organizing who will handle what tasks and to move forward with their findings. Cango is a small business that has become a success in the Hudson Valley location. Liz the founder and CEO are proud of the accomplishment but yet want to become more.
She is so eager to move forward that she announces a new idea she has.
Liz wants to make it in online gaming. Many of the team members seem to be uneasy about the new market that Liz introduced. A few of the members make comments about the lack of communication in regards to this new venture. Cango is small business and does lack any type of strategic planning. The company hus far has been successful, but when asked how this happened the CEO does not really have an answer.
Liz wanted to start a business and that is what she did. The venture was started with no plan, but to begin a business and see what happens.
This alone was Just luck of the draw. Liz does seem to have a passion for her business and her colleagues. She cares about the stability of the company and her friends. SWOT Analysis A.
Strengths a. Cango is small but successful business b. Thus far their product lines have been positive choices. c. Luck, because there a. They have employees that lack the skills to complete tasks which could lead to ome training.
b. There is no strategic planning involved. c. The company’s work atmosphere lacks discipline. d. The company lacks communication between the departments.
. The company is currently still in the red. f. The company would benefit from a mission and vision statement as well. This would help everyone have a better understanding of where they are and what they would like to accomplish.
C. Opportunities a. The projection of increased orders by 500% b. Online gaming market, but still needs explored c. Expand their already successful company d. Emerging into new markets.
D. Threats a. The lack of a strategic plan b. Not having the capital to handle increase in orders c. Employees not being adequately trained. .
Cango lacks both a mission and vision statement Recommendations Liz seems to know that she wants to emerge into a new market. The market she wants is in online gaming. Online gaming can be promising, but the implementation plan has not been presented as of yet. Some of the team members are unsure of the concept, but would like to see some financial analysis in regards to this plan. The financial analysis would help to show whether this would be a rewarding venture for the company. Liz has asked that Andrew put together a preliminary marketing plan.
The idea of this plan is good, but some preliminary research should be done prior to this. Is there really a market for online gaming and what type of games should be offered? One question particular would be what demographics we are looking to appeal to the most. Sporting games do consume the game counsels, does this mean that the venture should look at sport type games. I feel first that they should lay out a strategy. This means for the first time begin a strategic plan and make goals and outcomes that the company plans to achieve. This plan will give them stair steps into the future.
Draw a strategic plan is my first recommendation. Another recommendation I would make is to reevaluate your employees. This would include making sure they are adequately trained to do their Job. If this means some training in organization it should be done. Debbie seems to be well organized; therefore she could possibly have a training session with some of those that are less organized.
The company needs to look at their finances and see what needs done to become profitable. They are a successful company, but we did learn that they are still in the ed.
This means moving forward into another market could hurt them even more. The financial department would need to look at a cost analysis of what it would take to begin this new marketing plan, along with looking at what is needed to handle the projected increase in orders. I recommend that they meet with a financial advisor and accountant to see what this venture will entail for them. Will this new market make or break them? In conclusion they should become more organized and develop accordingly.
Cango needs to set goals and plan ways to achieve these goals.
With ompanywide goals and strategies they will emerge more united and therefore more successful. Learning to communicate as a team will help all that are part of this venture. Delivering a mission and vision statement that all members feel they can relate too is also important. Each member of the staff should be part of the mission and vision statements. References Class Videos.
(2010, January 4). Cango Quicktime Videos [Video File]. Videos listed on http://www. devryu. net/ec/crs/default. learn? CourselD= 3680404&CPURL=www.
devryu. net&SurveF& 47=5655192&ClientNodelD=906358&coursenav=O&bhcp=1