AIU ONLINE |
Better Business |
Unit 4 Individual Project |
Michelle Forbes |
The goal of this memo is to take a deeper look into two companies and their success in particular business situations. By taking these situations and learning new tactics from these companies, we will learn how to invent new tactics creating a successful business, whose ultimate goal is to ensure an orderly and fulfilling working environment. Success financially and in the work place is important in having an ever growing corporation. |
To whom it may concern:
I have looked into two very successful businesses and have seen that there are two very interesting business tactics used by these companies that will ensure a brighter future.
Preserving cash flow is a huge part of a successful business. In this economy, one of the most important issues facing businesses ...view middle of the document...
Though buying in bulk is harder to manage because of the larger up front pricing, it is better for the overall growth of the corporation (BizEngine, 2012). Though this might seem like a small step towards a successful business, it is necessary in earning money and creating a lucrative business.
Another technique used by a different company, Corporation B, used more positive verbal reinforcement. Corporation B gathered all employees together before their shift and discussed each employee’s strong points along with magnifying the areas that the employee needs to work on (Marketing.com, 2013). Each employee needs to hear the positives related to their working habits along with the things that need improving, which will generate a more positive working environment. When employees hear the positives of the job that they are doing, they are more apt to do an even better job by knowing that their hard work is not going unnoticed. In the case of Corporation B, they also posted inspirational posters and even created a mural giving them incentives to do their job to the best of their ability. With employees taking pride in their work, we create a successful business.
If I were a senior manager in both of these corporations, I would have used both techniques to generate a lucrative and emotionally stable working environment. Though I would have also put in place a better way to manage Corporation A’s money other than buying in bulk, I would also budget money in other places and collect all invoices forming a strict budget. In the case of Corporation B, I think that this idea is great to keep up the moral of all employees.
Successful business bad economy.2011. Retrieved via web page 2/10/2013.http://venturebeat.com/2011/09/16/sucessful-business-bad-economy/
Buying in Bulk. 2013. Retrieved via web page 2/10/2013. http://www.bizengine.com/bulk-buying/
Management. 2013. Retrieved via web page 2/10/2013 http://www.mrkent.com/management/index.htm