To be successful in business and in the current rapidly changing world, organizations need to maximize productivity of all available resources to include, financial, information physical and human (Rouda, Kusy, 1995). At this current time, it is known that Precision Chem-Dry has a management problem in regards to both finances and resources, for this purpose, a needs assessment will be accomplished to understand why things are the way they are and how they instead should be. By completing a needs assessment of Precision Chem-Dry, a better understanding of the organizations current and ideal future state will be identified, ultimately moving the organization forward to deal with its current management problem and closing the gap between the …show more content…
In the case of Precision Chem-Dry the current state focus should be around pulling themselves out of their current financial situation and addressing the issues that have led to their poor resource and financial management problems. First, Precision Chem-Dry’s level of education when it comes to its owners and technicians may be considered sub-par to that of its competition, they have great training when it comes to cleaning carpets as this is identified by the 5 star master technician certification on their website, but lack the advanced accounting and customer skills needed to manage costs and its customers (Precision Chem-Dry, 2016). Next, Precision Chem-Dry currently has the required equipment to clean carpets, but that equipment is outdated and may be …show more content…
As mentioned above education is one key factor that is needed, both owners and technicians can benefit from additional professional development training which could put the organization in a better place to succeeded because it has the potential to increase collective knowledge of an organization, enhance a company’s reputation and make employees feel satisfied (Half, 2015). Following education, Precision Chem-Dry needs to lay out a financial cash strategy that will put them back on track because if cash is not properly managed the business will continue to go under and the necessary upgrades to equipment may never happen (Anthony, n.d.). Finally, to increase capital from a current loss state, Precision Chem-Dry needs to build social capital. In business social capital is just as important as monetary capital because it can be used for the production of wealth and in the case of Precision Chem-Dry used to earn new business and keep existing ones, ultimately leading the organization to increase revenue and pull themselves from debt (Misner,
The most distinct possibility that CleanSpritz has is to branch into the commercial cleaning industry. Only 31.5% of MJ Brenner’s overall U.S. sales derive from the sale of household cleaning products (which is where CleanSpritz’ current market is). 40% of its (MJ’s) sales come from industrial cleaning products. Not only could CleanSpritz claim some of that, but their market research showed that there was considerable interest from businesses to purchase their 3:1 concentrated formula.
Initial Capital Requirements: - Huge initial development period and very high investment costs, tooling costs, and WIP are necessary even before the company starts
Corning has a diverse product line that includes glass, ceramics, tableware, cookware, and auto parts. In order to offer such a diverse portfolio of products, Corning constantly reevaluates its production capabilities and deploys resources to improve productivity. The manufacturing and engineering team was developed internally and tasked with the responsibility of process change and improvement. The M & E team plays an integral part in Corning’s ability to garner new market share and leverage existing opportunities. For instance, the M & E team participated in numerous projects throughout Corning, but its core responsibilities include internal consulting, product quality assurance, and the smoothing the transition of products from R&D to production. The M & E team’s function is to solve problems by implementing long term solutions that facilitate process and quality improvement.
Operations management is important in CDS (Concept Design services) if they are to continue being one of Europe’s most profitable home ware businesses. As with any other company, CDS objective is to add value to their final product while using its resources effectively and efficiently through its internal processes like planning, scheduling, control, quality. The company has successfully been able to apply the technology used in the aerospace sector into home ware items, through the mastering of injection moulding machines. Moreover, the company has expanded into a premium home ware product market from low end product i.e. “Focus”, integrating new functions within its operations, such as forming partnerships with reputable designers and increasing the volume and complexity of its production i.e. High design value products and outsources the low end low profit making product i.e. “Focus” brand.
Hoodz of Kentuckiana and Like New LLLP are small businesses in Louisville Kentucky run by the Shaw family. The companies offer complementary commercial cleaning services and often share clients. Hoodz of Kentuckiana is a franchise of Hoodz International and is in its fourth year of business. In its second year the owners decided to open a second company, Like New LLLP that would offer their clients several more services. This allowed the family to offer more well-rounded maintenance plans for current and perspective clientele. Now that both companies are up and running, the leadership would like to evaluate and analyze the practices that are working best for the companies and those practices that need to be improved.
This analysis delves into the company’s operation management principles to interpret its successful strategies and offer future recommendations.
The purpose of this memo is to discuss the facts and findings of the weaknesses within the Alchemy Inc. Company. This audit was conducted in October 19, 2014 by 49ers Audit Corporation. The team has conducted a thorough examination of Alchemy Inc.’s process through a careful review of information obtained from these interviews from the Machine Operator, Internal Auditor, Shipping Clerk, Receiving
The company’s objective is to enable business and operational success through integrated world class solutions and development by utilizing the organizational restructure of the Engineering and R&D departments. Having a centralized organization with a decentralized engineering department makes meeting the company objective quite difficult. Also, if the company’s objective does not align with the department specific objectives Campbell Soup is setting their selves up for failure. Sales and Marketing are concerned with increasing market share and gaining profit, while the Plants are worried about operational performance, and Engineering is focused on individual parts of the system. In order to have a successful company
Sunflower Nutraceuticals (SNC) is barely breaking even and is strategizing on methods improve its growth and cash flow through capital budgeting. This paper will discuss the decisions the CEO made in each area of the 3-phase process, and evaluate how the decisions affected SNC. The numbers in this analysis are in thousands.
There was another problem of setting up capital required by the company for starting the production.
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Raising Capital it one of the most important thing in any business. It's useless having a great idea and the right connections if you don't have the money to get it going. Without capital, your business can't get off the ground. You need it to buy products or materials, pay wages, have a secure cash flow and generally run your business on a day-to-day basis. The most common types of debt capital are bank loans, personal loans, bonds and credit card debt. When looking to grow, a company can raise funds by applying for a new loan or opening a line of credit. This type of funding is referred to as debt capital as it involves borrowing money under a contracted agreement to repay the funds at a later date. With the possible exception of
BBC Pvt. Ltd, is a chemical manufacturing company that was established in 2004. It's registered offices are in Bangalore, and its manufacturing is in Lucknow. At the time of the case BBC is in need of working capital to secure a major contract with Indian Railways. The contract would open doors for long term business. BBC's product manufacturing required minimal fixed assets investment and high quality production. Their product was low cost high quality which
1. There are many problems that are apparent at Salt River Labs. The first major problem is the purchasing process. There are way too many people involved in this process. The current process involves series of five different people, or groups of people. This starts with the Chemists who send requisitions to supervisors, who send the requisition to Suzie Martinez, who sends the same requisition to Barbara, who finally sends the requisition to Arthur who makes the final decision about the requisition. Once a decision to approve or disapprove the requisition has been made, the requisition gets sent to Paul
HCC industries, a manufacturing company that produces hermetically sealed electronic connection devices along with microelectronic packages, is headquartered in Encino, California. Considering their highly sophisticated product line, one of HCC’s main clients was the U.S Military and government funded aerospace programs. HCC is made up of four distinct operating divisions: Hermetic Seal, Sealtron, Glasseal, and Hermetite. The divisions are highly decentralized and completely autonomous of each other. They all have different customer bases, different product lines and even different accounting systems. The divisions are also profit centers, by definition; each was responsible for their sales, costs, and bottom line. Each division also