Introduction
Unichairs Inc. is a well-known and reliable Canadian supplier of high-quality furniture for commercial use in the hospitality industry. Moreover, the company’s products stand out from the competition due to the best quality at an acceptable price, the fastest possible delivery, as well as exclusive design in terms of modern and innovative trends (About us, n.d.). The business has been successfully operating in the market for more than 25 years, winning many positive reviews and high ratings from clients.
From the point of view of the company’s size and other similar metrics, Unichairs Inc. can be confidently attributed to a small enterprise in which a group of real experts in their field is involved. Hence, Unichairs Inc. has a relatively little organizational structure and the same number of employees. Furthermore, the market share within internal and external components is not as impressive as the revenue from sales compared to medium and large businesses.
It is known that Unichairs Inc. was founded in 1995 by Richard Marcolini and Rita Marcolini. In addition, the organization has a deep and rich history, rooted in the 70 years of the last century, when the Marcolini family started manufacturing and selling furniture under the Frini Furniture Inc. brand, which will be renamed in the future. Having discovered a new line of business in the 90s, they then focused on creating products for commercial use. Therefore, from now on, Unichairs Inc. is one of the most successful furniture suppliers in Canada and abroad, offering a wide range of services for people in business and entrepreneurs in the hospitality field.
Unichairs Inc. offers its customers a wide range of exceptional and inimitable furniture for every taste, color, and style. The collection of chairs, tables, booths, restaurant seating, and other pieces of furniture, in addition to the main furnishings and casegoods for the hospitality, recreation, and leisure sectors, combine both elements of traditional and classic, as well as modern and innovative design (Details & description, n.d.). It is no secret that the presented products are distinguished by their unique design, comfort, high-tech, and, most importantly, reliability, stability, and durability, following generally recognized quality standards (About us, n.d.). In general, the choice of creations from Unichairs Inc. is not limited since orders in most cases are carried out according to individual needs and preferences of customers.
It should be noted that the firm’s customer base relies on new and loyal buyers interested in the brand’s products. The organization’s clients are mainly owners, managers, and partners of local or world-famous hotels, resorts, casinos, restaurants, and nightclubs. For example, among the most famous customers, Novotel, Sheraton, Crowne Plaza, and much more should be singled out. Thus, an experienced team of craftspeople is always proud to cooperate with large and small organizations (About us, n.d.). Moreover, Unichairs Inc. actively works with various dealers, among which Nella cutlery, Jordash Co, Industrial Revolution, OGEE tables and chairs Inc., and others can be distinguished.
The Organization within the Industry
Primarily, Unichairs Inc. is one of the most stable and reliable companies, whose sphere of activity and interests is mainly based on the furniture production industry. According to Suman et al. (2021), it is a sphere with huge potential and opportunities for its growth, development, and expansion through the use of modern technologies and several available tools and approaches to product creation. It is essential to highlight that Unichairs Inc. operates in one of the most important and significant areas for people, which has been in demand since ancient times and remains so to this day. For example, sitting on a chair cannot give rise to exquisite ideas about history. Still, the truth is that every piece of furniture is part of the industry spanning centuries and providing jobs for citizens. Therefore, today, the sector remains a substantial commercial activity, employing millions of people in various positions, as manufactured furniture has turned from a luxury into an expected basis, and the market has expanded to meet all levels of budget, taste, and style.
Moreover, Unichairs Inc. provides a wide range of services and products: from consultations on the quality and design of products to selecting a specific piece of furniture for hotels, casinos, restaurants, and other places for entertainment and recreation. Furniture being an element of fashion trends and a creation for convenience, relaxation, and comfort, is a material product developed using essential resources, revolutionary solutions, and innovative technologies (Ratnasingam, 2022). In general, furniture has consistently crossed the words of practicality and art. Accordingly, furniture’s essence, role, and purpose are extensive and multifaceted; the process of its development, design, creation, and decoration is a remarkably profitable and promising business, bringing high incomes. Moreover, Unichairs Inc. operates in a relatively niche direction in the industry, selling furniture exclusively for legal entities and organizations. As practice shows, combining these aspects guarantees a company outstanding results, high achievements, sustainability, and resistance in the market.
Place in the Industry
It is recommended to note that Unichairs Inc. occupies relatively good, profitable positions in the industry. Generally, the firm has clear guidelines for strategic promotion and optimal marketing tools to discover the uniqueness and originality of products and meet the target audience’s needs, taking a firm place in the minds of its customers, partners, and suppliers. These facts can be confirmed based on numerous enthusiastic reviews on specialized websites and experience working with world-famous companies. Consequently, the correct understanding of the brand provided the organization with remarkable sales growth. Furthermore, such success of positioning the furniture supplier in the industry is additionally expressed in reflecting the desired position within the definition of a niche, planning and focusing on the maximum volume of sales and profits in the existing conditions of active competition. Thus, the presence of clear guidelines allowed the firm to build good communication with consumers. Nevertheless, Unichairs Inc. has many opportunities to achieve tremendous success in the market, create more efficient competitive advantages, and occupy leadership positions in Canada, the USA, and beyond.
The Student’s Role within the Organization and Realization of the Learning Plan
The key role of the student in the organization was related to accounting, as well as data analysis and processing, reconciliation of budgets, planning and conducting audits, a study of the value formation of products, and several other equally important tasks. Undoubtedly, this role is one of the most essential, critical, and significant in the company, due to which the student could competently and correctly engage in document management, preparation, and submission of accounting and tax reports. The student’s professional tasks were based not only on studying the general economic condition of Unichairs Inc. but also on managing data on prices, purchases, delivery of goods, and other job responsibilities related to sales and finance. The novice specialist helped to determine the timeliness of budget allocations and mutual settlements with partners and contractors; they displayed all financial data in the balance sheet and financial results reports.
Moreover, while working in the organization, the student partially implemented the designated training plan and the corresponding goals and objectives. Accordingly, for its implementation, such professional duties as performing daily “clerical work,” helping colleagues, accounting and calculating employees’ salaries using the QuickBooks program, checking bank statements and credit cards, and compiling a detailed list of gross sales and GST were performed. For a more complete and clear understanding of the essence of the implementation of the training plan, it is necessary to address the following essential aspects.
Firstly, from the point of view of combining and organizing several principles, directions, theories, concepts, and ideas into functional business areas, the student faced difficulties in integrating internal and external aspects within work systems and processes. In this case, there is a high risk of contradictions, shortcomings, and inconsistencies between business functions that entail unsatisfactory and non-compliant with certain norms and standards of the company’s results. Therefore, the competent and correct implementation of the goals and objectives in the field of “consolidation” was not fully or at least partially implemented.
Secondly, it is essential to emphasize that the trainee, during the internship at the educational institution, managed to form and develop professional competencies, as well as improve both hard and soft skills. Nevertheless, despite such positive results and high achievements, work is required to enhance professional self-awareness and “I-concept.” Consequently, the plan to improve and evaluate business skills in order to increase efficiency was partially implemented since comprehensive and thorough work on self-reflection is required.
Thirdly, relying on the manifestation of analytical skills and abilities, the student could fully reveal them and realize the conditions for developing innovative, revolutionary, innovative, and creative approaches and solutions. Without any doubt, the non-standard and productive approach to calculating taxes and wages presented to the management justified the time, effort, energy, and other resources spent by the trainee accountant. Strong motivation, hard work, creativity, and an unusual approach helped to facilitate the work with accounting at Unichairs Inc.
Fourthly, within the framework of developing a project management plan and increasing the value of products, the student demonstrated a deep interest and desire to improve internal structures, systems, and technologies in business processes to make meaningful use of available data. Nevertheless, it is complicated to answer that this plan has been successfully implemented since there are some difficulties and disagreements in calculating products and inventory management. The logistics system of Unichairs Inc. is entirely outdated and irrelevant; there is a lot of furniture in stock, but there is no objective report or entry about them in the accounting book.
Fifthly, the student was able to successfully implement goals and objectives in the field of practical marketing concepts. For example, a novice accountant performed a thorough, careful examination and detailed work in accordance with the analysis of the benefits and costs of a particular show and presentation of products in Canada and the USA. Today, due to the valuable trainee employee’s work, the company leaders have new and vital data on important financial components regarding advertising and marketing.
Sixthly, it can be noted that the student partially and not fully implemented the plan for demonstrating a high level of understanding of the company’s products, as they faced some inconsistencies and a lack of support from an experienced specialist. Nevertheless, the novice accountant clearly and correctly presented general and essential knowledge about the firm and its activities, but more specific details are still unknown. In this case, obtaining the necessary information will take time.
Nonetheless, the practice allowed the novice accountant to compare the theoretical information obtained with the objective reality, as well as to acquire the necessary knowledge, skills, and abilities for further study. During the internship, the student studied the essence, features, and history of the development of Unichairs Inc., the theoretical foundations of the analysis of the financial activities of the enterprise, the preparation of accounting statements at the company taking into account its specifics, the theoretical aspects of electronic payment systems, the process of organizing settlements at the firm and much more. Thus, the practice allowed the student to consolidate and deepen the theoretical knowledge gained at the educational institution, acquire practical skills in accounting, and get acquainted with primary and other accounting documentation.
Three Topics
A Particular Problem and the Proposed Solution
One of the specific problems faced by Unichairs Inc. is the lack of automation and systematization of logistics processes. The analysis of the company’s organizational structure has demonstrated that the counting of products, as a rule, takes place in a physical way. In most cases, manual inventory entails the risk of errors in calculating goods and distortion of data for the required quantity. Moreover, it becomes challenging to plan and estimate the time of the calculations, and the process itself may take longer than the scheduled period. For instance, the student working as an accountant at the enterprise faced difficulties such as misunderstandings between accounting and the warehouse, as well as inconsistencies in documentation. During the internship, the student noted that the warehouse workers could deliver goods to a customer without knowing the details about the payment status of orders. Without any doubt, this moment could make it challenging to conduct a competent and correct inventory calculation in accordance with the revenue received.
Therefore, as practice shows, manual designation of data can lead to inaccuracies and shortcomings in the complete inventory list. Consequently, the solution to this problem will be to appeal to innovative, revolutionary, and technological solutions that will allow Unichairs Inc. to get away from working “on a pencil” and come to full or partial automation of warehouse and transport logistics in order to optimize costs, accelerate processes and increase the level of service. Hence, introducing a logistics automation system will increase the transparency and overall efficiency of logistics processes, reduce the impact of the human factor on business results, increase the level of service, and optimize the number and composition of personnel. Thus, in order to facilitate the accounting of the company data on goods, it is advisable to introduce automation of the inventory process. In this case, high-quality and reliable activity outcomes will be obtained, which can be used for making various management decisions.
Diversity in the Workplace
Within the framework of the student’s individual experience and observations, it must be stated that Unichairs Inc. is an organization that recognizes, highly values, and respects cultural, national, racial, and ethnic types of diversity, appreciating the work of every employee, regardless of their age, gender, physical, and other features and characteristics. Thus, for example, the team of Unichairs Inc. consists of specialists of different origins, skin colors, gender, and generation. Each of them has their worldview, mentality, and vision of the world picture through the prism of cultural, religious, or spiritual aspects. Nevertheless, such apparent dissimilarities between people do not discourage them from working together side by side, overcoming various professional difficulties and obstacles. Based on such a perception of inclusivity, workers have the unique chance to put together their special set of skills, abilities, and talents to get different approaches to a situation.
The company’s leaders believe that such a “diversification” is a key to success and a guarantee of a better future for the firm. Thus, diversity practice indeed makes the working environment in Unichairs Inc. much more interesting, dynamic, and exciting. As practice shows, when different people from different backgrounds start working together, they can exchange information, traditions and experiences with each other. This procedure makes a workforce a much more balanced and tolerant place to work. By putting people of different skin color, gender, and ethnicity in the same workplace, Unichairs Inc. continues to benefit from the many different ways of thinking that these people bring with them. Many of these factors may not have an immediate noticeable impact in the company, but different groups have already brought great diversity in Unichairs Inc.
Therefore, according to the student’s observations and opinions, Unichairs Inc. is an excellent place to realize each person’s potential, whether an intern or an experienced specialist, a representative of a “non-Canadian” culture or race. Employees are friendly, amiable, pleasant, and benevolent people who are always ready to listen, answer questions of interest to colleagues and help not only with advice but also with a kind deed. Despite the team’s diversity, the student did not have specific barriers and problems when interacting and communicating with the staff. Every person is equal, and the company especially values this aspect, avoiding quarrels, disagreements, and conflicts on the basis of “dissimilarities.”
Analysis of Risks the Organization Must Deal With
Today, the modern furniture industry and Unichairs Inc., in particular, continue to put themselves at several risk, considering the dynamics of rapidly changing and uncertain transformations in the world. Firstly, Unichairs Inc. faces difficulties, problems, and issues that danger the firm’s employees. Thus, for example, according to Indrawati et al. (2018), the furniture production process may include up to 9 potential hazards, and more than 20% belong to the high-risk category. In most cases, people threaten with pinching their fingers, cutting their hands, or getting respiratory disorders (Indrawati et al., 2018). Due to these facts, staff turnover continues not only in the organization but also in the sector as a whole, entailing costs. As a result, the organization loses a valuable employee who made a profit and knew all the subtleties of the work. It is necessary to mention that it is especially challenging to find real professionals and masters of their craft capable of teamwork; there is always a risk that a worker may quit or be fired for a reason.
Secondly, there is a considerable probability of encountering a poor rate of raw materials and components for furniture. It is no secret that the company’s activities aim to implement high-quality and reliable products created from natural elements that meet all norms and standards. Accordingly, the firm is forced to periodically spend a sufficient amount of time, energy, effort, and resources to select all proposals for the supply of raw materials and components to find the best option. Moreover, the cost of fine details is increasing almost every year in an unprecedented progression due to a wide range of internal and external factors (Challenges of the furniture manufacturing industry, n.d.). Accordingly, the dynamics of price growth at a particular moment can put Unichairs Inc. in a difficult situation, from which, as a rule, it is possible to get out by taking on expenses in order to survive in a competitive environment.
Thirdly, the business additionally may encounter unscrupulous and unfair suppliers since not all companies work efficiently, and with their irresponsibility, deliveries for Unichairs Inc. may be disrupted. Thus, these circumstances often lead to additional costs or downtime of the enterprise. If a supplier is a randomly found intermediary, then problems are guaranteed, and maintaining business ties with regular contractors is not always and not in all cases possible.
Fourthly, regarding the disappointing economic situation caused by COVID-19 and other external hardships, there is a reduced demand for furniture purchases in the USA and Canada. For instance, the Canadian economy is experiencing a crisis, high inflation, household debt, falling incomes of the population, and stagnation in the construction industry (Spring & Tung, 2022). Nevertheless, this has almost no effect on furniture sales, but it is not a fact that it will not begin to affect tomorrow. Many businesses have not yet recovered from the pandemic and are forced to save and cut their budgets whenever possible. Therefore, buying new furniture for hotels or restaurants is not one of the priorities for businesses today.
Consequently, relying on the student’s job profile in the accounting field, it is necessary to state that the company’s risks are most associated with the property, financial and reputational losses. Hence, staff turnover, potential mistakes in the selection of materials and suppliers, as well as the direct impact of external threats on the inner side of the firm are among the few risks that Unichairs Inc. must deal with. In this case, the student in the role of an accountant is required to competently perform their functional duties through proper organization of internal control, keeping records of the facts of economic activity, performing strategic analysis, and much more to mitigate and eliminate the identified “hazards.” However, in order to minimize the risks of the business environment, the accountant should not only provide an accurate reflection of the facts of the company’s economic life but also present to the management the results of factor analysis, calculations of financial outcomes, and possible losses with the justification of conclusions based on reliable accounting indicators.
Conclusion and Summary of the Sections
Summarizing the above, it is necessary to state that Unichairs Inc. is one of the most reliable and stable companies in the furniture industry, promoting unique, modern, and durable products at a reasonable price. The firm is engaged in the promising sector, having excellent positions and a good customer reputation. Although, indeed, Unichairs Inc. has great potential for more remarkable growth and development. In general, the company has a friendly atmosphere built on diversity and inclusivity. However, Unichairs Inc. has such a problem as the lack of automation of logistics processes and several risks associated with finances, property, and reputation. Moreover, the student’s role in the organization was based on the performance of official duties in the accounting department in terms of financial and marketing directions. According to the student’s opinion, the training plan was successfully implemented, and all the goals and objectives were entirely fulfilled.
References
About us. (n.d.). Unichairs Inc.
Challenges of the furniture manufacturing industry. (n.d.). BizCover Pty Limited.
Details & description. (n.d.). Yellow Pages.
Indrawati, S., Prabaswari, A. D., & Fitriyanto, M. A. (2018). Risk control analysis of a furniture production activities using hazard identification and risk assessment method. MATEC Web of Conferences, 154(15), 1-4.
Ratnasingam, J. (2022). Furniture manufacturing: A production engineering approach. Springer Singapore.
Suman, M. N. H., MD Sarfaraj, N., Chyon, F. A., & Fahim, M. R. I. (2021). Facility location selection for the furniture industry of Bangladesh: Comparative AHP and FAHP analysis. International Journal of Engineering Business Management, 13, 1-15.
Spring, C., & Tung, A. (2022). How the slow-burning housing crisis is driving hunger in Canada. The Conversation.