Creative Clusters & Gentrification with focus on the Hoxton area in London - Essay Example

The objective of the study is to find out the reason and factors influencing the poor performance. Why the sales have fallen or what is the problem of the employees. Though the five layer management systems are being followed what are the loop wholes is the system. Why it has not been able to reach the targeted goal. While other and peer companies are doing well what keeps this organization lag behind. The second objective is to provide corrective measures to address the current challenges. The study should also propose short, medium and long term solutions to come out from the problematic situation.

It should also highlight the theories and models behind the suggested solutions. The solution will include all the departments starting form marketing to human resource and others. So summarizing the above discussion the task of the new manager is to identify the challenging areas and prescribe the appropriate solutions for this to shift the company from a loss making venture to profit making entity. Though the problems are many, but the study has identified serious and major four problems that need to be addressed immediately.

These problems are related to marketing department, human resource department, financial department and research and development department. The business is suffering from lack of revenue collection, and lack of sales. The client base of the company is poor. That is why the revenue collection is not up to the mark. Customers are the key factors of any business. They are the revenue generating sources of any business. The ideal number of clients depends on the nature of the product and reach of the product.

But client satisfaction is extremely important. Every company has to maintain a proper client’s pipeline. Benton et al. (2003) argued that problem related to clients is increasing. A business falls under severe problem if sales figure or the number of active clients is not enough to reach the break even. Russell