Turning a failing business around
Turning a Failing Business Around
MGMT290 – 1303A – 01
08/11/2013
Abstract
This paper will discuss about the three main problems in an organization and they are the outdated product lines, adversarial communication, and competition for internal resources. It also will discuss what steps to take for the transition from the old to the new. It will talk about the external environment and integrate into the turn around plan.
Introduction: As the new manager of a department that is failing in the business, there can be several factors that I can concentrate to begin a new transition in turning the failing business around. The first thing I will do as the new manager is to concentrate on the reality of the lost of market shares, because of outdated product lines. The next one, I will address is to solve the problem that we are having with adversarial communication and the third one, also needs addressing is the ongoing problem that the business is having with competition for corporate funding. These are very significant problems in having to combine all them in an organizational structure change. After addressing all the problems to be solved, I will describe the steps that are best to perform to changing. Also I will give details of effect the external environment will have on the turn around of the department.
The three main problems:
Outdated product line As the new manager of an organization the first thing I will do is to analyze the outdated products that failing. I also compare the competitor’s performance sales of products in the same market. Also review all the products that are enter in the market and decide whether using new technology to compare with our products. Search for the reason why the products are not selling and see what is the customers need or taste to changing. The newer technology will be a great enhancement in product performance. It is indeed important to ask customers to feedback on the products. As the
MGMT290 – 1303A – 01
08/11/2013
Abstract
This paper will discuss about the three main problems in an organization and they are the outdated product lines, adversarial communication, and competition for internal resources. It also will discuss what steps to take for the transition from the old to the new. It will talk about the external environment and integrate into the turn around plan.
Introduction: As the new manager of a department that is failing in the business, there can be several factors that I can concentrate to begin a new transition in turning the failing business around. The first thing I will do as the new manager is to concentrate on the reality of the lost of market shares, because of outdated product lines. The next one, I will address is to solve the problem that we are having with adversarial communication and the third one, also needs addressing is the ongoing problem that the business is having with competition for corporate funding. These are very significant problems in having to combine all them in an organizational structure change. After addressing all the problems to be solved, I will describe the steps that are best to perform to changing. Also I will give details of effect the external environment will have on the turn around of the department.
The three main problems:
Outdated product line As the new manager of an organization the first thing I will do is to analyze the outdated products that failing. I also compare the competitor’s performance sales of products in the same market. Also review all the products that are enter in the market and decide whether using new technology to compare with our products. Search for the reason why the products are not selling and see what is the customers need or taste to changing. The newer technology will be a great enhancement in product performance. It is indeed important to ask customers to feedback on the products. As the