On the other hand, remaining with the current plan would mean that the company is willing to prove to the outside world that it is possible to come out victorious and start operating on profits once again. Closing down the company should be the last resort. Giving up so easily should never be an attribute of the business people. Closing down the company will contribute negatively to the economic growth of the country. It would also show the weaknesses of the company, and the rival competitors could take advantage of the situation to deter entrant into the market at a later date.
Closing it down would lead to many unemployment people as the workers would be rendered jobless upon its closure. Frustrations will take toll on the employees and some of them could even opt to indulge into criminal activities to be able to meet their daily needs. The lack voice telephone lines would be a huge blow to the consumers since the services would not be effective. Selling the company would be another option by the management to be able to recover the losses.
However, selling the business would not necessarily mean anything in terms of profit realization Brown, C. It would mean that the shareholders are given their dividends depending on their contributions. Selling it in haste could also lead to the company being sold at a throw away price as the buyers would realize the level of desperation and disappointments of the shareholders due to the uneven cash flow.
If money got form the sale of the company would be used to acquire another one in a more accessible location that will be able to tap the highest revenues as possible, the better. The legal requirements should also be considered to avoid any inconveniences to the buyer and the cost implication.
Sometimes, before disposing an asset, there are several legal requirements that lead to incurring more costs and should be avoided as the company seem to be suffering from the financial crisis. Slowing down the rate of growth would ensure that the customer demands are not met. It could lead to loss of loyalty from the customers and this leads to massive financial losses Clement, et al On a positive note, the company can be able to manage its finances since the operations will not be many.
The reduction of the burden of having to cater and be in the different locations would mean that it gives room for other competitors to come in to supply the network materials. Some of the revenues would be lost in the process but the strategy would help the company mend its inefficiencies while formulating new strategies and policies that would help the company evade such inefficiencies in the future.
Asking for a 90 day extension to take care of the cash flow problem could be interpreted as new reforms to be formulated. It could be to the advantage of the company as the management would have ample time to analyze their previous strategies that led to the cash flow systems.
Applying their expertise, knowledge and skills to scrutinize the cash flows systems would help them realize the causes of their problems, and they would therefore; do away with them Brown, C. The ninety day break would help the company regain a new image to the public taking the market and competition to where they should be. Reduction of the expenses would be the best solution if best implemented. Some of the unnecessary expenses incurred should be avoided in the company.
For example, the advertisements expenses in the media could be reduced since they consume a lot of revenue. Some of the employees who did not possess the skills should be laid off and encouraged to gain the skills first before entering the labor market.
It would have helped them realize more profits. The cash flows would improve with the reduction of the expenses hence it would be to their own benefit. Other possibility to be considered would be merging with other companies to strengthen their cash flows.
Integration with other companies in the same field would strengthen them in terms of gaining a greater market share and expanding on their strategies to maximize their profits Dawson, et al It would also mean that the products and services would be compliments hence increase in sales as purchase of one component would result to the urge to buy the other to be complete.
Merging helps the companies share ideas that are kept confidential and are used for the advantage of the parties involved. Dawson, R. Getting results from crowds. San Francisco: Advanced Human Technologies. Brown, C. Managing information technology. Upper Saddle River, N. Clements, J. The investor's manifesto: Preparing for prosperity, armageddon, and everything in between.
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Please note that we cannot guarantee that unsubstantiated claims will be satisfied. Note: this sample is kindly provided by a student like you, use it only as a guidance. ID Password recovery email has been sent to email email. Type of Paper. Essay Topics. Educational Tools. References: Dawson, R. Bachelor's Degree. Criminal Justice. Cellular Providers has a world class management team with direct knowledge of the industry, extensive research experience, and unique administrative skills.
Together, they have a combined total of over 10 years experience in the cellular and retail industries. In the future, Cellular Providers expects to require a highly qualified CFO, HR manager, additional customer service personnel, additional sales reps, and a public relations manager. The Services The company has a developed mix of services targeting both businesses and consumers.
The Market The ten-year outlook in the wireless communications service is excellent. The number of new cellular subscribers in the United States increased dramatically from to , and saw continuation of that growth. The number of new subscribers exceeded 10 million, with a record By the end of analysts had that figure reaching 80 million. While projections differ, the number of cellular and PCS subscribers in the U.
With the evolution of new technology, this industry is expected to generate increased revenues. There are a number of trends that are driving this growing industry. The most significant ones are greater marketing and advertising efforts, rapidly expanding networks, and technological advances. New services and applications such as advanced messaging, data and video transmission, location technology, and remote monitoring are in the early stages of what most analysts predict will be a period of explosive growth.
The company plans to focus on three target markets that will provide us with the greatest market penetration. This includes the specialty business users, the general business users, and the personal users. The company will move from the traditional product-focused strategy to a total-focus on customer ownership. Cellular Providers is committed to continued high levels of customer service and selling cellular and two way radio service through progressive retail locations and outside sales representatives.
Timing is critical in business. Cellular Providers is taking advantage of an opportunity to become a highly distinguished and recognized industry leader because of certain key advantages:. Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document.