Using the business concepts learned in your Year 1 program courses (finance, economics, marketing, business intelligence and information systems, management strategy, leading change), write a response to the real-world business scenario question below that applies and demonstrates your understanding of these Year 1 program business concepts.
You are the Chief Operating Officer of a small company (6 to 12 employees) that has been experiencing financial growth as well as customer appeal for the product in the domestic market. Develop a strategic plan for expansion and immediate implementation that would meet and satisfy at the minimum three of the following criteria.
• A need to increase production of the products by 20%
• A need to hire 2 more employees for newly created positions immediately
• A need to re-structure the internal functions of the company that requires you to lay off 2 of the current employees with the considerations for:
Employee morale during the implementation of the change
Reflection of fairness and justice to the departing employees
Retaining and enhancing company’s highly regarded CSR reputation within its peer market players
• A need to hire 10 more employees over the course of the year
• A need to increase and improve marketing campaigns via the current social media outlets with no added marketing budget • A need to enhance your company’s online presence, in addition to your brick and mortar storefront
• A need for sustainable market share increase that would enhance revenues generated
Please write a 3-page minimum APA 6th edition formatted response that answers and examines a minimum of three (3) of the needs of your company bulleted above.
6-7 credit sources required
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