BusinessChallenges
Lackof a Strategic Planning
Forany business to succeed, an elaborate and efficient plan has to bethere. Effective planning is often reflected by the business’profitability and stability (Swallow, 2012). The business plan shouldinclude short-term and long-term planning. The plan should forecastwhere the business will be in future by listing concrete results andmeasurable goals. Initially, Ruben Cooper started a business withoutplanning effectively. The plan would have shown the vision of thebusiness, the strategies used to run the business, the challengeslikely to be faced and their possible solutions. The lawn mowingbusiness did not have short term and long term goals. After acquiringthe necessary documents for his business, he went on to hireunemployed men to work for him.
Thearrival of sons and wives brought in different expectations into thebusiness as they were open to change, this included hiring anaccountant, developing a business plan and having a central locationof the business away from home. The location of the business wasideal, and with time, they were able to expand the business. Thisexpansion landed them jobs from institutions like schools andcompanies like local Walmart. Although they adopted a good marketingstrategy, the acquisition of the next door beauty salon was notplanned for. The input of their attorney or their father could haveproven to be vital in the long run. Unfortunately, the cosmetologybusiness did not have a plan of its own.
Aneffective plan could have put measures in place to cater for itsgrowth on a short term and long term basis (Swallow, 2012). Plans onhow to effectively attract clients and maintain them were not inplace. Eventually, the lead cosmetologist left and so did theclients. Effective business planning would have catered for anyfuture changes regarding technology and forecasted future developmentand business expansion.
References
Swallow,J. (2012). Businessplans – making them realistic and effective.Place of publication not identified: Lulu Com.
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