- April 24, 2014
- Posted by: essay
- Category: Term paper writing
The strategic planning of the further business development of Bob and Lou’s Café should include the detailed marketing analysis of the current position of the company and its prospects in the market. The detailed marketing analysis helps to understand better whether the company is capable to grow fast or the company is likely to face considerable problems in the nearest future. In addition, the detailed marketing analysis helps to understand ways for the further business development of Bob and Lou’s Café and possible changes that have to be introduced in the management of the company to enhance its marketing position.
The assessment of resources available to Bob and Lou’s Café is also very helpful for the elaboration of the further marketing strategy. At the moment, Bob and Lou’s Café has well-qualified personnel but the company has to retain employees and expand its services and products, which the company can offer to its customers.
The forecasting the further marketing development and business development of Bob and Lou’s Café is essential for the elaboration of the effective marketing strategy and successful business development. At the moment, the company fails to progress fast and the company definitely needs changes that can accelerate the business development of Bob and Lou’s Café in the nearest future.
C Possible changes to improve management and business performance
1 Actions to overcome weaknesses
First of all, the company has to focus on the motivation of employees to enhance the retention of employees and to prevent employees’ turnover. In this regard, the material motivation can be very helpful, but, taking into account the current financial difficulties of the company caused by the downturn in the economic development, Bob and Lou’s Café should offer employees attractive compensation plans. Compensation plans can increase employees’ loyalty and their satisfaction with their workplace environment. Compensation plans should stimulate employees to stay working in the company as long as possible and to improve their performance steadily. For instance, employees working longer time can count on higher compensation plans. In addition, employees performing successfully and staying loyal to the company can count on the promotion first compared to newcomers, for instance.
In addition, the company should enhance the quality control through the introduction of the position of a control officer, who will monitor the performance of employees and assess the customer satisfaction. Customers will have an opportunity to leave their feedback on the quality of services. The control officer will process this information and assess the effectiveness of performance of each employee. The improvement of the quality of employees’ performance will lead to the improvement of internal business processes. Therefore, Bob and Lou’s Café will improve the quality of services and products provided for customers and, thus, the company will increase the customer satisfaction and customer loyalty.