Posted: November 27th, 2013
CanGo’s Issues and Recommendation
CanGo’s Issues and Recommendation
1. Can Go should write an effective mission statement or a value statement. This promotes the business in providing it with direction and a strategic vision. The statement should be revised every five or so years to give it a push forward and to make new goals and objectives. The Goals and objectives should be the company’s guiding feature in formulating the mission statement. This can be done by first listing down the firm’s core and unique strengths and weaknesses. The type of the company’s primary customers, both internal and external, should then be listed. A review of how the customers relate to the firm’s strengths should then be done. After this, a short description of the findings should then be written. This should encompass what the customer is interested in the company for, how he is satisfied and if he acknowledges the company for his satisfaction.
The customer-strength pairing outcomes that are similar should then be combined and the outcomes should be listed in their order of relevance to the firm. After this is done, the top three to five statements should be combined into a paragraph. This should be done by listing in order the most relevant to the least relevant statements to the firm and then taking the top five. The paragraph shall become the new company mission statement and consultations could be done with the customers to confirm if they would want to conduct business with a company with that mission. Employees of the firm should also be brought in the loop and they should be able to understand, support and act on the statement. If Can Go Company does this it shall have a good mission and vision statement.
2. The Can Go Company should also develop a good strategic management process. Since the manager or proprietor of the company has an idea of what they want their strategy to be they should document the strategy and document it. From here the strategy should be translated into actionable terms. After this a business plan should be created. The plan should state the strategies of the firm and the actions the firm plans to carry out to achieve the strategies. Objectives, aggressive but attainable targets, actionable metrics and initiatives to boost performance should then be identified and included in the plan. A performance score sheet should then be developed.
This should be accompanied by a process that enables the deliberations on progress in comparison to the strategy. This should be implemented in all sections and departments of the company. This should then be reviewed periodically, preferably after every month. Incentives and rewards should then be linked to the strategy of the company. This ensures that the desired behaviors are maintained and a competitive attitude towards performance is achieved. Budgets and investments should then be linked to the strategy. This enables the strategy to achieve completeness. This is because it is supported by the economic resources of the firm. With the budget and the capital investments of the firm supporting the strategy, it is placed as the most important part of the company, which it should as it leads to the success of the company. The Can Go Company should implement these steps in order. This should make their company change and use a lot of its resources but the benefits of this are long term and will be enjoyed many years to come.
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