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Case Study - planning & strategy in small business - Essay Example

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James as a good entrepreneur identified and exploited his business opportunities by purchasing the firm when it was in the verge of collapse. This implies that the incurred cost of purchase was below the cost that could…
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His management of finances proved to be good. As the owner of the firm, James has proved skillful in managing its finances and thus ensuring that success is attained. The overall overheads in the company have been minimal by the reduced cases of unnecessary taking of risks and by assigning all work in the firm on a sub-contract basis. The reduction of bad debts is another measure of his finance control. His checking of the profit margins involving all the contracts the company awards, the minimal cases of business bad debts and the leasing of land for business expansion has boosted his finance managerial skills. He is experienced and understands the market demand for the business. His vast knowledge on the relationship between employee productivity and their comfort prompted his venturing into this type of business. His business idea was spurred by his experience in the building and construction field and the knowledge on the existing market competition (Thomas 2006, p. 190). The championing of new ideas and development of existing ones has ensured growth.
He is inexperienced at controlling and managing human resources. The result of his taking of human resource management position, which requires a competent person, has led to his arrogant nature in relation to employee-employer relationship. He cannot delegate duties as a result of his mistrust of employees. The effect is reduction in employee performance as a result of lack of team spirit and motivation which develops into low productivity. This is the case in Comfort Homes where James, despite his lack of experience in human resource management takes the position and controls everything without considering his employees in any decision making. He, however, gets things done but the employees do not feel as part of the company. This has led to poor communication system at the firm and lack of new ideas to steer the business towards growth. For instance, the failure to involve Kevin ...Download file to see next pagesRead More
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