Mrs. R. K. Hill,
Dear Mrs. Hill,
It is with great interest and pleasure here that I submit the advisory report requested by you. The report is focusing on various strategies that will enable your company to regain its profits.
I sincerely hope, madam, that you find this report informative. For further clarification and additional information, feel free to contact me.
Report on Mountainside Industries
Mountainside Industries should set goals and clearly identify objectives as an essential part of the business success. Some of the objectives that Mountainside should define include points on financial matters. Finance-related goals are crucial in the emphasis of the mission and vision of the company as they work as a framework and a guide in its operation. The manager must thus ensure setting clear financial goals that should be realistic, ambitious, and measurable.
Sales and marketing is another valuable area since it helps the company measure their position against other industry competitors. Furthermore, it plays a critical role in helping the company produce quality products, promote brand recognition besides surpassing the competition in the market share. Lowering the prices compared to the competitor’s ones is essential in ensuring attraction of a new class of purchasers. Besides, it can also ensure introduction of a new product line that will appeal to the broader demographic. In this case, the introduction of baskets is crucial.
As for the human resource objective, the industry needs competent employees. This goal will cover the staff training and objectives of development of the company. Training of newcomers will help minimize reckless mistakes in day-to-day activities. Despite having hired one accountant for score keeping, Mountainside can also check the various branches and hire another accountant to make the other divisions operate more efficiently.
The primary goal to be set in this case is profitability. Being in its 37th year and having recorded significant success in the previous years, the company should concentrate on increasing the annual sales by 10 percent or at least land two new accounts now that it has merged with the other two companies (crafts and furniture).
Additionally, there is a need for the enterprise using high impact marketing strategy that will enable it to use the smallest budget to improve. It should test new tactics to see which performs best before it is added up to the marketing mix.
Finally, staff motivation needs to be discussed; the company's staff needs to be motivated, and this is achievable in various ways that include better communication and empowerment. The recommendations for the improved communication concern the manager: it is important to talk with people more frequently through face to face, because it will make them know that they are valued and appreciated. Their chance for a say on how they do their job would be very empowering. Finally, provision of incentives is to be considered; they are the best motivation boosters in any form, including gift cards, tickets to movies and another payday off.
In conclusion, to boost the company’s efficiency and make greater profits, there is the necessity for putting the strategies such as setting frameworks into practice. Considering the ways of planning marketing and enhancing the employees’ motivation is very important. The company will not only stay on top of the business but also remain a good example for the other companies.