Question

You are the founder, CEO, of a new company and are responsible for setting up a corporation. Please discuss the following:

How you would ideally like to structure your company (pick an industry to describe and a product or service). Also, what type of corporate governance mechanisms would put in place.

What kind of culture you would like to have and why?

Discuss how you would recruit, train, and maintain employees and if you would reward people individually or for working in a group?

Discuss how you would create an innovative organization. Please consider how you will engage in a type of innovative activity for this product.

Describe what type of strategy would you like to undertake with a particular product or service. Determine if you have a domestic only or international plan and incorporate this into the discussion.

Answer 1

1.     The industry is the retail industry. The industry requires maintaining a balanced framework to stabilize the work performance of the workforce and structure the process of the company to function as per the current trends to meet the customer’s demands and fulfills their wishes. The manufacturing services need to be accelerated with the seamless process of the supply chain. The supply must be greater in quality that will affect the production process in the organization. The organization strategic measures and marketing plan are necessary to be boosted with the effective standard so that the organization sustain in the competitive market and fulfill all goals. Finally, the customer approach should be equally treated well and each customer’s queries are required to be answered with the highest standard of delivery.

The corporate governance type is the audit processes that will influence the organization working standard to keep under the major control. The audit will keep a close watch on the financial part of the company to measure the expenditure and the revenues earned by the company. The company is highly necessary to keep a close watch for any misstatement occurs in the dealings or process and will further maintain stability in the work process.         

2.     The culture is likely required to be the CLAN Culture. The culture is the friendly cultures that are required to be maintained in the organization to collaborate with the working environment in the organization. The organization work process needs the control and the employees are pre-assigned with their roles and responsibility to enhance the goals and benefits of the organization. Therefore, this culture is required to be maintained in the organization to make the collaboration with the organizational procedures.

3.     The employees are to be recruited as per their skills and they are also to be trained as per the technology standard required for engaging in the workforce. The employees work performance and delivery are required to be monitored so that the differentiation can be made between them. This process will allow the organization managers to motivate the employee with the rewards for the best achievements in work standard.

4.     For innovation activity market research is one of the important approaches in the organization. From the different channels, the customer’s feedbacks and market needs from entire population are required to be collected as it is necessary to do an analysis based on the result obtained. A stable decision-making process is likely required to be maintained in the organization that will make the organization process balance to implement the trendy approach of production as per the demand of the customers.  

5.     The strategy:

1.     Quality of the product is required to be the best

2.     The positioning of the product is required to be done as per the market demand

3.     Customer meets and demand are required to be done effectively with the highest standard

4.     Communication with the suppliers are required to be maintained in the organization for the continuous production process

5.     The structured marketing plan is required to be maintained to keep the sells higher and avoid competitive advantage

To start the international plan, and expand a stable business it requires knowing the market and its trend. As per the market demand, the analysis is required to be maintained in the organization to position the product in the market. As per the organizational budget, the organization is required to do marketing plan and should involve in promotional activity to convince the customers to buy the products and maintain a strategic approach to keep the consistency of the goals and visions to fulfill the business targets and avoids the constraints.