Unready for success

Article Abstract:

A long-established financial company's problem of coping with increasing product demand after a successful marketing campaign is used as a fictional case study. The financial institution is faced with the task of addressing a growing number of consumer complaints about deteriorating service quality that has resulted from the company's inability to handle the large volume of business and undertake the constant changes necessary in their products and services. The company's intention of installing a new information technology (IT) system is effective as a long-term strategy but fails to address current problems since installation of the IT system is expected to take at least three years. The solution proposed would require an approach that tackles the problem part-by-part, initially calling for the improvement of customer service, then the design of a cost-effective product development program.

Planning, Marketing management, Customer service, Information management

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Dilemma and decision: choosing between expansion and the desire to remain independent

Article Abstract:

Successful small businesspeople inevitably face the challenge of growth: heavy demands on a company's production capacity make businesspeople face the prospect of expanding and losing some independence or not expanding and remaining independent. Small businesspeople faced with two expanding lines of business that need more investment may be tempted to drop one. However, small, low-tech business will be more competitive if they hedge their bets by keeping multiple business lines. If businesspeople lack the capital, they should come to terms with the fact they will need to give up independence to maintain success. Businesspeople can subcontract manufacturing to plants nearby and initiate closer collaboration with distributors.

Finance, Small business, Industrial development, Industrialization, column

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