Center and in all Caps business is vested on analytical successive measures obtain when I was working under the Mimi and Jasmines M&J Company as Assistant Manager. In regard to the financial returns and suckering financial advancements reflected by the company income statement and Balance sheet unveils a growing financial position which triggers my initiative of purchasing the business being but under sale by the owners (Burke). The in-depth experience on the company financial and operational incentive provide the pragmatic benchmark which initiated the M&J acquisition and diversify the company small business product by product differentiation and implementing marketing procedures, which are considered to define the market value and the position of the company products. M&J company acquisition will require exceptional management personnel who will bound their commitment in delivering the services to achieve the company objectives which is to maximize the returns.
The M&J organizational structure entails procedural approached which capitalized on the traditional approaches which lessen the companys diversified operational framework and performances efficiency. The directorate policies accentuate the compliance with the established policies without giving the room for technologically oriented business policies. Being in the companys managerial position, embracing pragmatic structurally technological measures in managing its operation will give the business an opportunity to diversified its products and meet the customer orders (Saari). The acquisition of the M&J Company will require initiating policies which will govern all the departments, this will substantiate all hierarchy of the company to consider operating towards achieving the set goal, performance standards which entail improving the profitability making of the company. The M&J organizational structure should be developed in such a way that it will validate on perceptible communication policies and procedures, this will allow the employees and other stakeholders to respond quickly to any changes that might be made.
Departmentalization at M&J cosmetic company refers to the aspects of the company that does not comply allowing the designed units to perform their operation based on their departmental objectives. While working as the assistant manager at the company, it what was well exhibited that most of the departments are not complying with the initiated company policies that seek to maximize the returns (Irwin). The acquisition of the cosmetic company will define all the relevant and significant units. Customer departmentalization is one of the strategic plans that will endeavor in promoting and improving the company profit making, proficiency in public relation is one of the aspects that should be bounded in developing and transforming the company units.
Development and growth of a business are a dream for every manager. As one of the top executive of the M&J cosmetic company, designing the chain of command will define on the level of growth with regard to the analysis of the past and present company performance. The policies of ensuring that one person will serve in more than department will be initiated to ensure that every individual will work towards achieving the set goals of the company.
Change in Management Approach
The success of maximizing the company performance is demarcated by the management strategies that are initiated by the organizational executives. The management approach at M&J Company exhibits the inadequate management approaches and strategies that will improve and promote the company productivity (Burke). Change in the management methodologies defines the effectiveness and the efficiency on how the management motivate and promotes team spirit in the company. Being one of the top managers at M&J Cosmetic Company, allowing the employee to organize functional teams that will promote innovation will be the precedence of maximizing the company returns. The position and power in relation to the management will also be well structured as it will form the basis of motivating and rewarding the employees, loyal customers as well as the infant customers, by enacting this the M&J Company will experience high returns as we achieve the set performance standards which are alleged to be more proactive than previous.
Departmental management approach should also be the basis of M&J cosmetic company to increase in making its profits. Management changes should be extended to the relevant department as they will define the marketing strategies that are significant and substantial to the company objectives (Irwin). Changing the management approach should be inevitable to deliberate on the marketing element. Segmentation is one of the marketing element that defines on how the company may increase the volume of sales by increasing the geographical position where the products can be accessed by the customers. M&J Company is to maximize its return by embracing on understanding the psychology as well as the customer behavior in the market, this configures the aspects of understanding on the alternatives products and services which the customers may take. By enacting the internal control policies relating to market segmentation as well as he customer alternative will enhance profit increment at M&J cosmetic company (Saari).
M&J Company is obliged in performing the market research which will define total understanding in relation to the market problem and possible market risk and problems, by identifying the market risk the M&J cosmetic company will restructure its internal control policies that will lead to possible solution, this will promote on the procedures of maximizing the profitability making.
Marketing at M&J Company explains all the approaches and the strategies that are used in promoting and selling the cosmetic products such as the body lotions and hair care products. Traditionally the company has not been capitalizing on information gathered from the market, the market information includes the pricing as well as the distribution strategies (Irwin). The procedures of achieving the set performance standards at M&J Company will focus to identify the correct group of the customer in the market, this will base on the age which according to the research perform by the company will be known to be popularly using the cosmetic products. Pricing strategies will be defined on the products prices which will be charged from the customers, the company will focus in charging customer fair prices that will favor their pockets, this will encourage the more customers to purchase from the company thus increasing the profitability making.
The process of determining the future course of action at M&J Company will be formulated by evaluating the performance before the acquisition and after the business have been taken over by new personnel, enactment of the procedures will be aboveboard prober departmentalization, develop organizational Structure, definable marketing strategies, research as well as elements and exceptional management approaches (Burke).
As one of the exceptional and professional manager at M&J Company, applying the risk management matrix will focus in maximizing the return in the company (Irwin). The risk consequence will allow the management to basically identify the risk that might influence the operation of the company, deliberating the management operation in relation to the risk associated with profitability will also be acknowledged.
As the M&J cosmetic company defines its process by analyzing the risk management, the company will also be able to capitalize on choosing the best financial institution that will offer high capital with low rates that will be used to invest in the business.
BIBLIOGRAPHY Burke, Andrew, Stuart Fraser, and Francis J. Greene. "The multiple effects of business planning on new venture performance." Journal of management studies 47.3 (2010): 391-415.
Irwin, David, and Jonathan M. Scott. "Barriers faced by SMEs in raising bank finance." International Journal of Entrepreneurial Behavior & Research 16.3 (2010): 245-259.
Saari, Sami. What do a banker and an investor look for in a business plan?: Case study: Designer PC Cases. 2014.
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- Furthermore, still, technology proved to be advancing so fast in the health sector. The more it advanced, the better this field became. New discoveries in the medical field were invented. The life magazine tackles some issues that were focused on during this time. On August 15th, 1949, the life magazine reported how polio causes infantile paralysis. Also on October 3rd the same magazine still gives reports on how children in Raymond Blank Memorial Hospital were being isolated. The article went ahead to discuss and say that there was a need for the intervention for polio. This solely depended on the advancements in technology. On October 24th, 1949, it was discovered that radio-iodine halts thyroid cancer as written by Beman Braunstein. This was a breakthrough in the field of health at that time. Later on, we still find many incidences in which advancements in technology have bettered human lives.