PowerPoint Narration
Core of the company and mission and vision (2-3)
The attitudes and practices that influence how employees and management interact in a firm are known as corporate culture. National cultures and customs, economic trends, global trade, firm size, and goods all have an impact on corporate culture.
It is proper to indicate that the culture present in the organization can influence how the staff think, feel or behave. The psychological and social environment present in a firm like ours is what is termed as “corporate culture.” It’s critical to make sure that your clients understand your fundamental values, in addition to helping your workers live by them.
Your corporate values, in fact, assist you in clarifying the brand’s identity and in educating your clients about the company’s beliefs. Having a distinct set of fundamental values can provide a significant competitive advantage. There are numerous core organizational culture that are critical for our organization.
Mission
The importance of creating the mission and vision to be used by the business is fundamental for the future decision making process and strategic planning. The mission and vision statement are important in guiding the employees to understand what the company seeks or aims to accomplish in the market. The mission guide the management in knowing how the organization is going to be structured and which departments should be formed or here to allocate resources to ensure the set goals are achieved.
Although there are some similarities, there is a fundamental distinction between vision and mission statements. In it, you can learn everything about what the organization does, how it does it, and who the organization does it for. In contrast to the vision statement, it is of a more immediate character. “According to Stephen Covey, if you do not set your goals in accordance with your Mission Statement, you may find yourself ascending the ladder of success only to learn that you are on the incorrect building when you reach the top.” Therefore, after examining why we started the business we foresaw that our mission as an organization is to the world’s leading Bicycle providers for individual’s mobility.
The Vision statement, on the other hand, concentrates on what the organization hopes to achieve in the future if it is successful in achieving its mission. Even if the company changes its strategy, its vision often remains constant. A company’s commitment and energy are boosted when it has a clear, compelling vision statement.
An effective vision statement connects the present and the future while setting a bar for excellence. Additionally, it conveys the organization’s mission to its employees and other stakeholders, and inspires them to do their best to accomplish it.
Objectives
Company’s objectives enable you to keep track of your development. They act as a necessary check to prevent you from becoming blinded by your prejudice.
Additionally, goals and objectives assist you in evaluating your employees and enable employees to evaluate themselves. They’ll inform you of which departments are performing well and which want assistance. Additionally, they can inform you if you are setting unrealistic expectations for employees. The above listed on the slides are some of the main objectives set for the company for the next quarters.
Target market (slide 3)
The most important thing to remember when marketing your product or service is to target your marketing and sales efforts to particularly contact those people who will be most likely to purchase your product or service. In order to succeed, it is vital that you first identify or precisely define your key market. Your time, energy, and resources will be better utilized as a result. Who are your customers, and how will you know if you are meeting their requirements if you don’t know who they are? Because your ability to address the needs and wishes of your consumers is critical to your success, you must first understand who your customers are, what they want, where they reside, and what they can afford. We’ve all heard a business owner say something like this: “My product is just fantastic! It is appealing to a broad audience.”
Businesses that aim to be all things to all people are also something that many of us have seen. The crossing of this bridge will be challenging, if not impossible. It is as simple as determining who your primary customer will be when you are targeting your market. The market should be quantifiable, suitably large, and reachable to all participants.
Therefore, it is important as a firm to be able to identify the consumers you are wishing to serve. This will enable you as the business be able to focus your resources to meet the needs and requirements of the consumers. Thus, the Company has selected three target markets that include Speed, reaction, and Mountain. Specifically, Speed is the first priority while Recreation is the second priority and Mountain the third priority. The priority of each product is based on prior market analysis. Essentially speed bikes have been noted to have a high response form the consumers followed by recreational ad mountain bikes respectively.
Past Market (slide 4-5)
The previous quarter has shown how the company has been performing poorly in the market. There is a myriad of reasons why a company like ours, which is starting may experience difficulties to break even or making significant profits. However, based on special reports from the consumer groups it can be easy to understand the dismal past market performance.
Overall, the silver bike is observed to have the smallest market share among other brand with a 7% market share while BIK3D is leading with a 34% market dominance. The silver brand experience a negative performance as evident by the scorecard in Q3. Nevertheless, the investor capital has increased the financial capability of the firm to project future growth in profits and revenues. The investment in future scorecard shows that there is favorable position for the company in the future.
SWOT (slide 6)
In order to identify aspects of your organization that are operating well, you need conduct a SWOT analysis. These are the crucial success criteria that will determine your company’s long-term success and provide it with a competitive advantage. Identifying your competitive advantages can assist you in ensuring that you preserve them and do not lose your competitive advantage. SWOT has been useful in enabling us as a company to assessment the main areas of our business that offer strength, and opportunities, and threats. The investors’ injection to the company will increase the ability of the firm to achieve its quarterly objectives. This will be useful in eliminating the challenge of failing to meet market expectations. There is room for growth for the company. This is because of the target market is not fully exploited by the firm. However, the presence of stiff competition pose significant threat to the company.
The plan (slide 7)
A well-written business plan demonstrates to financiers your seriousness about your firm and that you have considered how you will make money. However, it is important to note that the business plan is not the only thing that can win the hearts of the investors. there is no investor who will be willing to invest in a company where the financial accounts are poorly managed or handled. The direction and meaning of one’s financial decisions are provided through investment planning. It enables one to comprehend the impact of each financial decision on other aspects of one’s finances. When each financial action is viewed as a totality, the short- and long-term effects on life goals can be considered.
The previous performance of the company has shown that there is need for the management to develop a new investment plan that can assist the company to improve its performing in the coming quarters (4-6). The investment plan is geared towards enabling the company to fuse its missions and objective with the expectation and requirement of the market. The company failed to perform effectively in the market due to lack of proper strategies to “tap” to the targeted market. Thus, setting up a research and development department dedicated towards developing products that meet the need of the market can be a sufficient strategic approach. This is aimed at enabling the company to be able to identify, attack, and meet the need of the target market.
The strategies to be adopted (slide 8-15)
There four key strategic approaches, which have been noted will have significant impact in the performance of the company in the next coming quarters (4-6). The strategies are aimed at improving the core area so of the business, which based on the current performance date have been found to be critical in enabling the company to achieve its objective in the coming financial period. The main strategies to be adopted includes the marketing strategy, Human Resource strategy, distribution strategy, and financial strategy.
Marketing strategy
Marketers use the term “marketing strategy” to refer to a company’s strategy for reaching out to potential customers and converting them into paying clients for their products or services. A marketing strategy includes high-level aspects such as the firm’s value creation, key brand message, information on target customer demographics, and other relevant information. Thus, as part of the strategy to be adopted the company will identify what consumers what in specific niche and ensure that future product are produced to meet these requirements. In so doing, the company will be able to meet the requirement of the customers.
Distribution channel strategy
The distribution of goods play an important role in ensure that the consumers have received the purchased products or the goods are available conveniently. Thus, the company will adopt the use of wholesaler and retailers in ensuring the produced goods reach the consumer within their locality. Retailers will operate branded outlets where the customer can be able to purchase the product with ease. Similarly, the wholesaler will be responsible in ensuring the retailer is constantly stocked with products.
The human resource strategy
A Human Resource strategy is a business’s overall plan for managing its human capital to align it with its business activities. The Human Resource strategy sets the direction for all the key areas of HR, including hiring, performance appraisal, development, and compensation. The human resource strategy will primarily focus to ensure that the productivity of employee is optimal. This will enhance staff moral and overall productivity in the company. Thus, the employees can be offered various forms of remuneration and other financial incentives to improve their moral and commitment.
The productivity of the company can be negatively affected if employees’ morals are not high. Thus, the proposed strategy will be instrument in enhance staff morale at the company. This means that the investor equity can be use channelled in the R&d to facilitate adoption of latest technical innovation in product development. The technology will be useful in minimize operation costs to increase financial performance.
Financial strategy
The financial strategy is aimed at ensuring that the form improves its financial performance for Q4–Q6 quarters. This can be achieve by adopting policies and technology that will reduce costs or overheads that hinder the company from making sufficient profits while revenues are increasing.
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