INTRODUCTION: This report is about the future business plans for Krystal Klear and her jewellery business. BUSINESS SETUP:
This business has no business plan which has a massive impact. Krystal did not register and legalise her trading name, began as a sole trader and has changed to a private company. By having such problems within the business, there is no structure. To improve on these issues, Krystal needs to firstly legalise her trading name. By making these changes to the business set up, Krystal will then be legalised, and have sorted out this aspect. VISION/MISSION STATEMENT/CORPORATE CULTURE:
Krystal’s Business has no mission or vision statement. She has set no long term goals and has no strategies for future growth. Poor customer service is a big issue. Without good customer service, the business will not thrive. Krystal needs to set some goals and strategies for future growth. By designing a plan of action, in regards to the goals and strategies of the company, the business then has goals to strive for, making the business flow better overall. Krystal also needs to make plans based around customer service and how the business can improve. BUSINESS FUNCTION:
The organisational structure of the business is not responding to the changing aspect of the business. There is no managers, no meetings with shareholders, no board of directors, no marketing staff, and no HR managers. Krystal needs to reassess the entire business but to improve the function of her business she needs to look into hiring managers, as all her employees report to her. She needs to hold meetings with shareholders discussing the business as a whole and asking what improvements need to be made.
In regards to the ethical side of the business, ignoring customer complaints not only reflects the business now but also the ‘profile’ it may develop in the future. Krystal doesn’t pay her shareholders, although the business is a private...