Future Business Plans and Their Feasibility | Free Essay Example

Future Business Plans and Their Feasibility

Words: 1033
Topic: Business & Economics
Updated:

Introduction

I cannot fail to notice that our company is progressive. For that reason, we must ensure continuity by projecting our focus to future possibilities. The technological changes as well as diversification of business ideas such as additional production efforts, provision of supplements to enhance the company’s future growth have to emanate from within. This memo, therefore, addresses to you as personal feasibility of the company’s expansion through analysis of various business operations. In this memo, I will not consider addressing the financial options that the company needs to consider. This is a general analysis of options for future business growth.

E-commerce and its issues

There is a need to expand the use of our network and internet to enhance the completion of business tasks through the web. This means that the company must invest substantially in the security of information and the entire intranet, for effective online collaboration. Our company has attained its maturity level and like many panache international companies, we have to embrace various electronic engagements through the internet for our daily routines.

The computer threats affect all companies and are arguably becoming more sophisticated and disproportionate for instance the security attacks on Google and Yahoo search engines and even the recent ‘Wikileaks cables’ revelations. This only requires better security measures or protective mechanisms.

I am certain that our firm will be in a better position to quantify its value through evaluation of performance in the course of using networking. Management will also be in a position to note prospective projects and any pending work at whatever time, place, or location. Networking and internet use is a control that adds value to performance in a reputable manner. The use of the internet also enables resourceful communication and sharing of information.

What is the amount of time spent by employees waiting to deliver projects for analysis before a new assignment? How much productivity is lost due to downtime? Lack of advanced technology slows the delivery of products, services, or projects. I hope our firm will be in a position to overcome this in the future by embracing virtual transactions since they assist in determining the business value, especially when considering project delivery.

New Forms of Telemarketing and Communication

The battle with technology is a dynamic and continuous process expected to bring about new challenges every day. This mainly influences the marketing and advertising department in a very vibrant manner due to the stable anticipated creativity. Current and future societies are dependent on technology and probably a good majority will have access to computers in the workplace, homes, or mobile systems. This is an effective chance for enhancing business transactions, especially marketing. Our business will cut down on production costs and time since this will eliminate the majority of the manually involved tasks. Is it also possible to include social-sites marketing strategies?

Collaboration

The performances and dimensional adversity of a company depend on its level of aggression. There is an urgent need for this company to ensure it avoids blending differentiated values, especially at the individual levels. Employees are often bond with group work initiatives. Some social groups may have strong integration probably due to their social bonds, generation links, or loyalty. Involving internal automated social groups will enhance group work and thus boost outcomes.

Managerial Structure

There is a need to revise the roles of management, especially in the HR department. To increase profitability, the current and future HR department should be the key business strategic planner with an ability to apply technology such as the web-based analysis of economic factors that can influence our business functions. The managers in the HR department should be the strategic business associates who ought to ensure the business gains from its planning strategies.

They ought to have the sole role of ensuring maximization of profit margins through enhanced quality and technology-based human management as a way of creating value for the organization. Future aspects of internetworking required for HR management include the electronic education of clients as well as employees. They also ought to enhance self-service for the client, gathering of the client’s response, reactions, or comments virtually through surveys and influencing website-based comments that may assist in business growth.

Investments

Future implications and planning for technological advancement as a business strategy means advancement in employees’ productivity. Our firm must integrate the latest information technology such as cable televising into the business functions, to eventually manage and improve customer relationships. This also assists in tapping intelligence as a business resource, enhance electronic trade as well as support decision-making procedures.

Future changes in profitability depend on the flexibility of our firm to embrace and take advantage of the already technologically acquainted markets. Investing in technological advancement will allow the company to be in a position of collaborating and exchanging information over contraction or stockholding. The current increased usage of technology is a clear indication that investing in the latest technology is inevitable for any business initiative.

Conclusion

Initial analysis of the above outlines factors might call for the alteration of various aspects and the need for additional or expansion details to ensure viability for growth of the company. However, a closer analysis will show that our company requires a major revolution to avoid various risks. On this note, before implementation, I recommend more details on the analysis especially in the following areas:

  • Survey of the existing customer niche to determine the demand, thus provide better as well as accurate services according to expectations and projections
  • Investigation of the financial requirement for each proposal as a measure to ensure significance in line with costs
  • Critical evaluation to align the study with the company’s strategic plans, goals, and objectives, this will also assist in determining the most feasible and urgent method to implement. Prioritizing is important for better financial growth.

Lastly, I am willing to discuss or review my findings with any interested member particularly the company’s board members. I am sure your reactions will assist to expound, adjust and put more details into my findings and I am willing to work with management to gather additional information to ensure implementation of any of these plausible findings. I appreciate your time to go through this imperative proposal.