Lack of Capital
As stated in the weekly video warren has made a recent statement that CanGo is in need of additional funding to help fund the company’s future and growth and development. I have come across a plethora a ways to move around money to come up with a firm business plan so we can have flexibility with our assets.
We have to be reminded that capital resources are money a company uses to finance new ventures and projects. Simply put if there is a lack of funding with extended waiting period these programs will be crippled. I initially recommended crowd funding in the hopes that citizens will help us generate the needed funding. This is a great step in the right direction due to ...view middle of the document...
Lack of Time and Personnel
CanGo wants to launch an initial public offering (IPO), which will allow shares of stock to be offered to the public. Since CanGo wants to expand, an IPO could be beneficial to the company because it enables enough cash flow to support a massive expansion. Launching an IPO requires more work, time, and efforts by employees. Therefore, it is recommended that CanGo improve its time management and increase its employee personnel.
In a business, managing time effectively is highly important because money is time and time is money. It is recommended that CanGo manage its time better to increase productivity and efficiency, increase advancement opportunities, and decrease employee stress levels.
Second, it is recommended that CanGo increase its employee personnel by hiring someone to manage the new responsibilities of launching an initial public offering (IPO). When launching an IPO, there should be designated employees who will only handle this project because there will not be enough time or energy for him or her to work on other projects. Employees should not be managing the launch of an IPO and focusing on other projects at the same time because this could cause a profit loss for the company.
Lack of Resources (equipment)
When attempting to expand or grow a company or organization, it is essential to look not only at the number of new or additional personnel that are needed to accomplish this task, but the additional tools and equipment that will be needed as well. Just at the very basics of this, additional employees mean additional work spaces which in turn means that CanGo would need to purchase additional desks and computer terminals. The amount of supplies which are consumed during day-to-day operations by the employees, will also need to be increased to accommodate the increase in personnel. Additionally, CanGo will need to look at what, if any, strain the increase in personnel, productivity and services will place on systems already in place. CanGo will need to consider purchasing additional servers in order to support the expansion, as well as equipment and supplies in both their shipping department and warehouse.
Ineffective Administration of Performance Appraisals
In evaluating the employee performance appraisal given to one of CanGo’s employees, it was noted that the feedback given was not an accurate account of the employee’s actual performance. The observed parties were both aware of the deficiencies that existed relating to the employees’ job performance but this was not addressed. Giving inaccurate performance appraisals does not give the employee an opportunity to improve their performance and is costly to the company.
In preparation for performance evaluations, it is recommended that supervisors and managers provide performance expectations for each position both upon hiring a new employee as well as annually. Employees should be informed of any performance related issues...