Mission
Statement:
Company
Me is a Consulting & Services firm, that sets its values and methods on quality,
diversity and integrity because they exemplify strong characteristics about a
business.
Business
Environment:
As
for Company Me C&S, I will be competing in both the industries of providing
professional solution and quality services to allow big firms &
organizations, accomplishing their objectives and leading to their projects. Alternatively,
based on recent statistics, the business sector for consulting and services
firms is flourishing in a global environment
but at the same time raised some awareness of disturbance in the upcoming
years. Over 700 000 C&S firms provide services of all kind globally. According
to the supply and demand law,
businesses are more willing to offer their services when the prices is high which
will increase the supply quantity and make more profit. Similarly, the demand for
the type of services will also increase which makes the business in a more or
less Monopolistic competition Market.
Entrepreneurship
and Strategies:
An
Entrepreneur is considered to be a
person that structured and manages a business or businesses and identifies himself
to take remarkable financial risk while doing so. (Textbook, Chapter 2, section
2.2). As being the CEO of the startup Company
Me, the hardest and basic challenge that I will have to face will be taking Financial Risk. If things do not go
well, it will plunge the company into financial loss. In order to consider avoiding
financial loss, I might thing of going into debts. One advantage of being an
entrepreneur is Financial rewards. Despite
setting yourself into financial risk, being an entrepreneur and running a business
allows myself to make more money than being/working for someone else. As a
potential strategy to consider for a good startup business will be Getting Adequate Funding. The funding
surely can come from a family member but in order to expand, I need to work
with lenders and investors to have efficient to get open in the long term.
Management:
The
performing job as a Manager, goes through the management tasks of planning, organizing, directing and
controlling assets to accomplish a particular goal. As being the manager of
Company Me, there are several different steps to consider so that I could resourcefully
manage company Me. As for planning, I would have to gather enough information
in order to set goals and objectives and performance target, to direct all
activities needed to achieve the company’s mission. Zenger and Folkman mention
in their article of ‘traits of super productive people’ that setting stretch goals
part of their ideal way to become successful. For organizing, I will need to
develop an organizational structure and
arrangement of people within the company in order to best achieve the company
goal. Hence comes time controlling of myself so that all the priorities and
essential tasks are done. More importantly, directing, one of the most
important tasks of the management process. For that, I will need to practice
the manager transformational style to motivate and develop subordinates and the
reason is because of its effectiveness in organizations that value team
building and sharing information.
Marketing:
For
the promotion of Company Me, I would use
Social Media advertisement as marketing tool of the company. My potential customers
will be any big firms that are newly implementing themselves in new countries
to start their business and need international consulting and services at any
cost. For personal selling I will
also need the customer relationships management to retain good businesses by keeping
their informations on recent customers, to substitute and preserve strong continuing
relationships. As for the search engine optimization,
of my LinkedIn page, the commonly used of strategic and professional words that
a large number of companies use and make my business interest as clear as possible
in order to market Product Me.
Accounting
and Finance:
This is how a
simple hypothetical balance sheet of mine could look like:
Asset $
- None current assets 200000
- Current assets 14000
- Total
assets 214000
Equity & liabilities $
- Owner equity 196000
- None current liabilities 44000
- Current liabilities 2000
- Total
liabilities. 242000
For
the management of my investment, I would certainly use investment websites or app
that are common nowadays in order to keep track of the growth and use of my
money. This should also help to tell me when I should have the return money
that I invested in. Creating a cash flow
can be consider as one of the best strategies for a good financial plan for a
good monitoring of how the money flows.
Information
System and Operation:
As
a Mid and upper level manager, the use of one of the management support system will be required. In order to develop
plans and make major decisions so that relevant information, timely and easily understood
will be the executive information system
(EIS). Its particularity is known to be providing ready access to tactical
information that’s personalized to their desires and presented in a expedient design.
Work cited
Kaplan, S. (2017, Sept 11). The Business Consulting Industry Is Booming, and It's About to Be
Disrupted. Retrieved November 18, 2018, from https://www.inc.com/soren-kaplan/the-business-consulting-industry-is-booming-and-it.html
Folkman, J. Z. (2018, July). 7 Traits of
Super-Productive People. Retrieved November 19, 2018, from
https://hbr.org/2018/04/7-traits-of-super-productive-people?autocomplete=true
Granville, K. How to Manage Your Career. Retrieved
November 18, 2018, from
https://www.nytimes.com/guides/business/manage-your-career
Kumar, B. (2017, June 5). What Exactly is an Entrepreneur and How Do You Become One Today? Retrieved
November 18, 2018, from https://www.shopify.com/blog/117049413-what-exactly-is-an-entrepreneur-and-how-do-you-become-one-today
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