Busn 460 as Rs Implementation Final

Topics: Balance sheet, Strategic management, Financial statements Pages: 11 (3626 words) Published: October 2, 2010
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Table of Contents

Topics: Page Numbers
Introduction/Executive Summary….…………………………………………………..…….4
S.W.O.T Analysis……………………………………………………………………………………..5-7
Marketing Analysis…………………………………………………………………………………..8-9
Competitive Analysis……………………………………………………………………………....10-11 Financial Analysis….…………………………………………………………………………….....12-14
Strategic Recommendations….…..…………………………………………………………….15-16
Conclusion…..…………………………………………………………………………………………….17
Reference Page………………………………………………………………………………………….18-20
Appendix A

Competitive Analysis Chart………………………………………………....21

INTRODUCTION/EXECUTIVE SUMMARY:
CanGo has propelled itself from fledgling retailer to overnight sensation with its offering of book titles and the promise of an online gaming division. P.R.A.C.T. Consulting group was honored to have the opportunity to outline and explain in detail what we deem to be the best course of action for CanGo’s continued growth and increased market presence. The following proposal will contain a SWOT analysis, which outlines inner strengths and weaknesses, as well as external opportunities and threats to CanGo’s success. Also included are an examination of the current market, a competitive study, and a financial breakdown. Once these have been stated and explained, P.R.A.C.T will conclude with our strategic planning recommendations and justifications, along with a brief synopsis of the report’s themes.

SWOT ANALYSIS
STRENGTHS
The automaker Henry Ford once said, “A business that makes nothing but money is a poor business” (Brainyquote, 2010). Henry Ford believed in people and the biggest strength that CanGo has is its manpower. Upper management and senior staff members alike are diverse, not only in their demographics, but also in their backgrounds. Differences can be a stumbling block to a company’s progress, but the common goal at CanGo is to make the company successful. Napoleon Hill would refer to this as the definiteness of purpose. He stated that, “Definiteness of purpose develops self-reliance, personal initiative, imagination, enthusiasm, self-discipline, and concentration of effort” (Hill, N., 1965). This definiteness of purpose works to inspire and require the cooperation of the team in order to achieve both short term and long term goals and their vision support flexibility. A company needs to be open to other options that may present themselves, such as the inception of online gaming to CanGo’s offerings. A business and its management must be secure enough in their plans to allow changes when a superior idea comes along. WEAKNESSES

If people are the cornerstone of CanGo, then how can they also be a weakness to CanGo? The answer is simple. Diversity in the workforce can also mean differing communication styles and levels of expertise. Allegiances will not remain if troublesome issues are not addressed quickly, uniformly, and efficiently. Alan Loy McGinnis addresses breakdowns in communication this way, “More often than not, when a group is fractured, and people begin to fight with each other, it is because of misunderstandings and small acts of inconsideration which have escalated into major grievances” (McGinnis, A., 1985). Good communication is essential to the continued growth of CanGo, because miscommunication can lead to its demise. Management must realize the importance of research when it comes to areas that they have no experience in or knowledge of. Risk is assumed when making any decision that could change the course of business, but basing that decision on less than satisfactory data could be devastating. OPPORTUNITIES

Web based businesses have shown strong sales increases in spite of a troubled economy. At a time how when the domestic economy has experienced...

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http://jscottarmstrong.com
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APPENDIX A: Competitive Analysis Chart
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