Management accounting Essay Example | Topics and Well Written Essays - 1500 words - 16

Management accounting - Essay Example e of the company to be enhanced the market has to be assessed which would involve trying to find out its customer preferences; this is done with the aim of trying to stabilize the sales, which has been fluctuating since the year 2008 to date. The growth in total assets may also be because of poor circulation of inventory, which is not healthy for the operations of the business. This report will further asses the ways that the company needs to employ its differentiation strategy apart from simply having large stocks for the sake of increasing prices, timely delivery and long lead times (Bates, Greenwald & Morrissey 2009). The company needs its inventory to move hence the main strategy is to expand its operations in terms of employing qualified personnel, look for incentives to control employee turnover and modernize its operations. As it stands, the company operates its operations in a very crude way, which has to stop by way of formulating organizational procedures and clear manageme nt structures. Bond Motorhomes a company that was formed in 1973 to repair and motor homes and caravans decided to expand its business in the year 2000 and into conversion of vans into motor homes as another way of doing their business. In terms of capacity and operations, the company did not change significantly, as it is reported that it maintained the repairs department, which was the pioneer to act as an attraction to customers. As a result, of this plus other factors the company performance in terms of sales turnover has been fluctuating a lot. The company has a major issue concerning maintaining its employees due to unclear employee management structures. It is true and understandable that the company still has small operations and it is a fact that the company has prospects of growth (Baxter & MacLeod 2008). This calls for the management to streamline all the operations of the company, formulate a plan of action, enact ways of recruiting employees and devise a way of recruiting

Our Current Use of Internet Technology and Recommendations for the Essay

Our Current Use of Internet Technology and Recommendations for the Future - Essay Example Knowing fully well that this company, Dixons, is a retail company dealing in electronics, the Internet has greatly helped us in running our business. There are so many ways the Internet has helped our business, but I will talking about how it has helped the marketing department of this organization. Before adopting the Internet, millions of pounds are spent on marketing the company's products and services. Some of these spending could be justified while others were just unnecessary. The forms of advertising adopted were: direct sales, yellow pages advertising, newspaper and magazine advertising as well. Television adverts were also part of the marketing strategies adopted by the organization. Though these strategies worked, they still had their limitations and were consuming so much from the company's purse. The Internet has reduced these limitations and has also cut down the cost of marketing ever since we have been using it. By running our business on the Internet, the cost of advertising has greatly reduced. The cost of running a direct sale campaign is very alarming. Materials have to be printed, packaged in an envelope and then sent to their respective destinations. The Internet has eliminated all these expensive processes and replaced them with relatively inexpensive strategies. One of the marketing strategies we are adopting now, which is v... There are neither printing costs nor any postage stamp to be bought. It has a higher response rate that the direct sales method. The effectiveness of this method is based on the fact of reselling to those who have bought from us, the existing customers. It is conventional wisdom in the high street retail trade that it cost ten times more to attract a new customer than to keep an existing one (Bruce Durie, 2001). Whenever we make a sale, we get the email addresses of the new customer. We get in touch with them on a regular basis and then recommend some other products that may be complementary to what they have bought earlier. This has also afforded us to build relationships with the customers. When we recommend new products to them, they gladly patronize us because of the relationship we have with them. Another online promotional strategy the marketing department is using is banner advertising. The way this is done is that we have our graphics designers design banners that we can place on other people's website for a nominal fee. This is a very simple and inexpensive marketing strategy. There are several high-traffic websites who are willing to give a space on their web pages in order to generate revenue. What we do is that we find out these websites and contact their owners to find out what it will take to place our banner on their websites. We find out that the cost these webmasters charge is very cheap. The opportunity they offer all is great. For a little cost, we are able to expose our products to hundreds of thousands of people every month. This has also generated a lot of traffic to our website and has helped so much with the sales being generated. This form of advertising has greatly