Running head: PROBLEM SOLUTION: SMITH SYSTEMS CONSULTING
Problem Solution: Smith Systems Consulting
University of Phoenix
Problem Solution: Smith Systems Consulting
What is a strategy and why is necessary to have one? A strategy can be simply defined as a long term action plan for achieving a goal (InvestorWords.com, n.d., n.p.). Strategies are an integral part in the success of any company and are key in a company's overall ability to accelerate its sales, gain market leadership, and really power up its revenue growth (Rowe, 2010, n.p.). In other words without a strategically developed strategy a company can not attain its future goals and objectives. Smith Systems Consulting (SSC) is lacking a solid strategy which is needed to maintain company success. Founded in 1984 by Blair Smith, SSC has grown to become a major consulting company, which has locations in numerous states. Currently the company is facing many issues including the retirement of the CEO, branding, the management of records, marketing, and the understanding of customer buying behaviors. With the issues the company faces it has become evident that there is a need for a strategy that will bring the company into a more competitive stance. Using the 9-Step Decision Making Model, this paper will use problem-solving techniques to identify the issues and opportunities as well as examine the concepts and strategies necessary to upgrade the company. Situation Analysis
Issue and Opportunity Identification
Smith Systems Consulting is lacking a solid strategy needed for customer retention and acquisition and how to more accurately address their client’s wants and needs. Customer retention is an intangible asset and satisfied customers equate a strong and financially sound company. The company must define their customers and create a marketing mix that satisfies customers as well as help the company develop new contacts and clients.
The company has seen success under the direction of Sam Smith, the CEO, but they have failed to keep records of profitability as well as the success of their products and services. Appropriate record keeping allows a company to make changes to their products and services that are not successful as well as aids in the development of new products and services. Through the use of records each department as well as the executives can identify ideas that will improve the company’s profitability. The company can also identify products and services that have not been as profitable and tweak them to make them more profitable.
SSC has also seen a rise in competition from larger companies, while they maintain to be a smaller company and more in tune to the customer wants and needs. With this rise in competition, Smith Systems Consulting must set themselves apart from their competitors through the use of branding, a marketing strategy, relationship and referral building, and marketing communications. They must also continue to exhibit competitive prices in order to maintain their current clients business and gain referrals. Lastly the company is going to soon see a change in leadership with the looming retirement of their CEO. The company is approaching a very crucial time where a highly developed strategy will help them continue to be successful. There is a lack of succession planning and the CEO wants to leave the company in the hands of someone who can aid in the development of new clients, the retention of old ones, and continue the success that he has created. Stakeholder Perspectives/Ethical Dilemmas
“A firm's stakeholders are the individuals, groups, or other organizations that are affected by and also affect the firm's decisions and actions” (Advameg, Inc., 2010, n.p.). Every situation that arises in an organization involves different stakeholders and each group has their own interests, rights, and values. The CEO, Sam Smith, has an interest in his company and its success, but feels that...
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