Question
The business that is being opened it a bookkeeping plus office management business. We would provide the service or we can provide a software that can handle both bookkeeping and office management.
Bookkeeping/Office Management
With the recent increase in competition in the global market, organizations and businesses are keen to improve the quality of their products and services while at the same time maintaining high standards of accountability, transparency and office management. To be transparent and accountable, an organization needs to have an efficient bookkeeping department and ensure that office managers are always working at the highest level possible. As a result, my company has decided to seize this opportunity in the market to start a bookkeeping and office management firm known as G-10 holdings. Bookkeeping encompasses the recording of all financial transactions in a company such as sales, receipts and both individual and organizational payments. On the other hand, office management widely focuses on designing, implementing, evaluating and maintaining of the work processes within a firm to improve efficiency and effectiveness (Chopra & Bhatia, 2009).
Question 1
Vision statement
We are aspiring to create a work environment where employees can grow and find freedom to fulfill their potential.
Question 2
A vision statement of any organization should provide a strategic direction and describe where the investor wants to achieve both in the short and long term future. Therefore, a vision statement should inspire and provides a sense of motivation for all employees. Investors may use different processes to come up with the best vision statements for their companies. However, to create the above vision statement, the process below was used:
- Defining the output of the company rather than the input – the first step should be clearly informing the customers what the organization does. Therefore, the vision statement should remain output focused rather than input focused which will eventually have a high impact on the market compared to an input focused statement.
- Defining what unique twist the organization brings to the outcome mentioned in the first step – considering that it is rare to find new products in the market since most of them are renovations of what exist in the market, the investor needs to show why he thinks he is different from other investors and producers. The investor needs to convince the employees that his organization would be successful where other have failed because of …something that he must define this something and include it in the vision statement (“How to Write a Good Vision Statement | Cascade Strategy Blog,” n.d.).
- Application of high-level quantification – to come up with the best vision statement, there is the need to avoid a too visionary vision statement. Therefore, a company should not be too specific or include the application of particular metrics to avoid frustrations or cynicism among the employees and the target customers in case things go south.
- The addition of relatable, human and real world aspects – the secret to a good visionary statement is the addition of a real-world aspect that helps both the employees and customers to create a mental picture that can be associated with the vision statement. Such a move will encourage the employees and customers to participate in furthering the objectives and goals of the company.
Question 3
With the increased use of technology and internet, customers are increasingly becoming aware of their value and importance to the organization. Therefore to win a better competitive position in the market, the company needs to have a sound business strategy that focuses on:
- Getting personal with the clients – the real reason why the company was formed is to provide bookkeeping and office management services to their customers, therefore to remain at the top of the game, the company needs to listen and learn what their customers need before producing these products in the market.
- Customizing customers products – some customers are very strict to what they need and desire. Therefore, to win their trust, there is the need to know them better to enable the company to provide customized product, services, and experiences (Ghemawat, 2010).
- Entertaining customers – as a new enterprise, the company should focus on attracting customers through entertainment in a bid to create brand awareness as well as retaining the existing customers.
Question 4
The organization will use democratic management still where the managers will allow the employees to take part in decision making so that the employees can feel like part of the organization and give them the sense of belonging and importance. Additionally, this forms of management helps to eliminate all office politics that can threaten the integration of the employees
Question 5
- Chief financial officer – the chief financial officer will b the overall leader of the organization and should be involved in all decision-making processes his work will mainly focus on overseeing that the organization is moving in the right direction as a unit (Ringen, 2013,).
- Functional manager engineering – the manager in this department will be responsible for supervising all engineers and overseeing all the engineering work go as planned. He should report to the CEO.
- Functional manager marketing – should be the leader of the marking team with a sole aim of promoting the company’s products and services to new and existing customers
- Functional manager sales – he should be in charge of the sales team where all the plans and strategies for this department should go through him. He should be in charge of distribution of the company’s products and services to the customers.
References
Chopra, R. K., & Bhatia, A. (2009). Office management. Mumbai: Himalaya Pub. House.
Ghemawat, P. (2010). Strategy and the business landscape. Boston: Pearson.
How to Write a Good Vision Statement | Cascade Strategy Blog. (n.d.). Retrieved from https://www.executestrategy.net/blog/write-good-vision-statement/
Ringen, S. (2013). Nation of devils: Democratic leadership and the problem of obedience.
