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What would you do if you were a manager faced with spiralling costs and dwindling profits in a heavily competitive business environment?

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Question ajoutée par Shukri Ibrahim , Administration Officer , Rezayat Company Ltd
Date de publication: 2017/03/19
Omar Saad Ibrahem Alhamadani
par Omar Saad Ibrahem Alhamadani , Snr. HR & Finance Officer , Sarri Zawetta Company

Thanks 

I would turn all employees into sales employees and give everyone of them a target to achieve it

During six months I. Will compensate what I lost before 

Ahmed Fawzy
par Ahmed Fawzy , HR Manager , Sleepless Diligent Services.

create an efficient promotion plan.

Customers are always attracted by promotions

Md Fazlur Rahman
par Md Fazlur Rahman , Procurement Specialist , Engineering and Planning Consultants Ltd

Thanks for invitation.

My recommendations are as follows:

1. Look at the business processes, procedures like procurement, warehousing, utilizations of machinery and manpower thoroughly and analyse the cost elements. The cost of production(cost of goods sold) must brought under control

2. Look at the cost of financing charges and and if necessary, reschedule the bank borrowing to reduce financing charges.

3. Explore the market thoroughly and make promotion campaign so that goods are sold a sales plan.

4. Thoroughly review the distribution channel and make an effort to induct new distributors

5.  When National economy slows down due to political  or other issues, shock will be there in organizational health. In such a case, diversify the product/ services range to have more sales.

 

 

Arlene Ondez
par Arlene Ondez , Registered General Nurse , Home care center(contract of service at First Dental Center Doha)

Greetings,In short the manager is facing a critical situations.This means I am still standing I am only losing Profits,but I still have the capital/assets. •First I will assess and identify the cause, •Then have a SMART PLAN. •I will correct &improve the area. •I will always maintained positive attitudes to all. •I will Rejuvenates everyone. •I will also limit expenses and instead use alternatives. •I will utilize all the resources that I have. •I will widen my horizons by knowing what are those things or aspects that the other companies have that I don't have.It doesn't mean that I don't have originality but by knowing those I can blend in,I can compete,I can improve. •I will upgrade my product or service. •I will enhance the skills of my employees and have good technology. Thanks.

simon Toyiring
par simon Toyiring , REGIONAL SALES MANAGER NORTH ZONE 1 , FAREAST MERCANTILE NIGERIA LTD

1.I will create a cost structure that will give me advantage over my rivals

2.I will maintain quality at a particular price.

3.i will retain my customers by good customers service relation.

4.i will make available products,goods and services to my customers all the time and always

5.i will target customers with a particular taste in the market.

Robert Malak
par Robert Malak , Projects Manager , Ankido Oil Services for General Contracts DMCC

 

There are certain steps taken during combat when you encounter an injured solider, but it must be followed in this order:

 

  1. Check for breathing (if the solider is dead no use to do anything).

  2. Stop the bleeding.

  3. Fix a fracture.

  4. Treat for shock.

  5. Seek additional medical help

 

The same principles apply in this case in a heavy competitive business environment (combat):

 

  1. Check for breathing (if the situation is hopeless- cut your losses).

  2. Stop the bleeding (find out where the business is bleeding money and stop it immediately).

  3. Fix a Fracture (find out where the system is broken and fix it).

  4. Treat for Shock (ensure everyone that everything will be okay- Moral support)

  5. Seek Additional medical help (hire a special consultant to further help saving the business).

 

Nourhan Alian
par Nourhan Alian , Global Procurement Buyer , PepsiCo

I would make the following: 1-Call for an urgeng workshop/meeting to discuss the whole situation with my team. 2-come up with some quick wins to help adjust our situation for the current period. 3-search for the root cause for our losses and work a PDCA plan to solve it. 4-I would study all the alternative ways that usually generates revenues in our field of work,through doing some aggressive research. 5-Work out a marketing campaign to make us stand on our feet again through the most important thing which is boosting our sales.

Suju Santhakumar
par Suju Santhakumar , Accounting Manager , D-Seven FZ LLC

I'll implement the following steps:

  1. Check the current status and possibilities.
  2. The key point of every business is marketing and sales. I'll find out the current position of this and look to improve with new methods of approach and improvement of employee mind.
  3. I'll try to find out where is the actual problem hidden.
  4. If that problem can resolve, I'll try to do that.
  5. Encourage all employees to start a war together to achieve a win.
  6. If requires, recruit extra experts to give guidelines. 

 

Md Mahbubul Alam Khan Khan
par Md Mahbubul Alam Khan Khan , Asst. General Manager , CHINA -BANGLADESH ELECTRONICS PVT.LTD.

Find out the sectors specifically to minimize the cost with theoretical, practical & logical aspect and also reduce the expenses in the same way. In fact i will share with some of my dedicated colleague who can help me to overcome from that situation keeping strong motivation of the subordinate.

an immediate reevaluation for our strategy would be held at once, advice will be taken into consideration. all the change that must happen will be happening asap 

Fahim Shahzad
par Fahim Shahzad , Sr. Electrical Engineer , EMCO W.L.L.

Keep good team, give them target and followup daily basis. 

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