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Small business management (find attachment) - Assignment Example

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I. Identify the Type of Control Required Given that Mobile Plus Group Ltd., is a new entrant and in the introductory phase of the celphone business, it is critical that the business should be able to capture enough market share to make the enterprise a viable business endeavor…
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Download file to see previous pages For reason that it needs to monitor the customers’ marketing response to prove that indeed Mobile Plus Group Ltd., is a viable business endeavor. This feedback on how the market responds shall be used to evaluate the efficacy of the marketing effort and business structure that will cater to customer needs. Through feedback control, it will be able to identify which part of the business went according to plan or fell short of expectation and be able to apply remedial measures when required. II. Relevance of Selected Method of Control. Employing an effective control mechanism in Mobile Plus Group Ltd. will assure us that the performance of the business will go as planned. Through it, we will be able to measure actual performance and will also be able to apply corrective measures to ensure that the “business’s objectives and plans are being carried out” (Dixon, 2003). In determining the method of control to be employed, it is important to determine the objective of a business at a given time. And to elect appropriate modality of control given the circumstances which in this case is the Feedback Control as the business is still in its introductory phase that needs to urgently capture enough market share to prove itself as a viable business entity. A. ...
This will be aided by an effective Management Information System that will provide us with concrete data to analyze. Control will also be performed by soliciting written feedback from the customers through feedback form available in our outlet. C. How Control will be Effective The efficacy of monitoring actual sales versus target sales will give us an indication of the efficacy of our marketing drive and to validate our hypothesis about the market. If market performance fell short of expectation, we will be able to apply remedial measure to steer actual performance in the direction of planned performance. By soliciting the feedback of our customers, we will be able to determine which part of the business is doing well or fell short of expectation. As it is the vision of the company to leverage itself from the competition through customer service that is second to none, we will be able to determine if indeed our frontliner’s performance is in line with this vision and make necessary correction or retraining if actual performance fell short when compared to expectation. III. Risk Involved While there is a huge potential for our celphones having an 80 % market for them, we are not however without competition. This competition poses a risk to the business as customers have other alternatives to purchase their need for a handheld mobile device. There is also a direct competition with our products, meaning there are also other businesses selling the same product such as ours and priced competitively and could even be lower. Also, there is also a risk that the market may not respond to our marketing drive of providing them a celphone with two working SIM cards with a TV and game functionality. While this added functionality may provide them with convenience and ...Download file to see next pagesRead More
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