Grouped faced stiff completion from other companies making it to lose grounds. Groupon project can implement the following steps to deal with the problems that are facing the company.
Implementation of solutions
Allocation of funds to enhance marketing is widely done. Campaigns on popularize the goods produced are to be conducted to reach people from all the diversity. Online advertisement also to be done in face book and twitters and these will make it globally advertised.
Developing a list of customers and the goods that they want to be supplied to them. The communication systems between the company and the customers will be important to clearly define the needs of the customers.
A body to regulate the standards and emphasize on Sticking to the better policies and favorable terms and policies formulated to compete with the stiff competition from other companies.
Modifying the goods to appear more attractive and improve the quality. Change the size and shape of the products which are not doing well in the market and this will attract customers increasing the sale and a high demand of the product
The finance department must generate cash flows system to measure the success of the business. A cash flow system indicate how the company invests its money and whether the business is running at a profit or a loss
Partner with other companies, generate more funds and add employ more employees that will bring more services to the company
Set up the information technology department to incorporate the technological advancements that may arise in the process of running the business and revise the business strategy to correct any loophole
Kleiman, Lawrence S. (2010), “ management and executive development, ” Reference for Business: Encyclopedia of Business: n. pg. Web. 25 Mar 2011
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