3.0 External Environmental Factors Affecting Rock Paper Scissor Salon
3.1 Competition
Rock Paper Scissors salon is a new and upcoming business. As such, it may be affected by existing similar businesses that have existed a longer time and, hence, have loyal customers or higher market share (Pulaj & Kume, 2013, p. 65). The competition may affect Rock Paper Scissor in terms of investment where established salons can invest in purchasing high-tech and modern equipment, and are able to adjust based on environmental conditions and the models they have applied throughout the durations of their operation. Upcoming businesses such as Rock Pair scissors have to undertake a competitive analysis to understand the weaknesses and strengths of competitors …show more content…
An analysis of the Rock Paper Scissor salon divulges that it lacks the four basic management functions of planning, organisation, leadership and control. This is the case because the business lack a vision and mission statement that enables planning, an appraisal system that provides insight for internal control and organisation, an appraisal system that motivates employees and a business culture that encourages innovation and high-performance. The role of visionary leadership is crucial in facilitating strategic planning and risk-taking, which is needed for innovative thinking and execution. Additionally, the external environment influences the business and managers have to be able to create flexible situations that allow them to transform with the contemporary challenges that arise from the external environment. This can be done by analysing the external environment, for instance, competitors and technology advancements to know how to leverage and apply …show more content…
Papulova (2014, p. 13) notes that a mission and vision statement helps create a culture based on what is prioritized by the business. The vision statement can focus on the customer service or high performance.
2) That the management begins to receive a monthly financial reporting in able to determine its profitability. According to Zimmerman and Blythe (2013, p. 52) being able to measure profitability of a business is important because it allows strategic planning and elimination of waste that increases cost of operation. If the business is operating as a loss, it becomes much easier to determine the strategies to use to improve sales.
3) That the management incorporate an appraisal system that measures staff performance in order to solve their dissatisfaction and improve areas of weaknesses. The recommended model for accomplishing this is the paired comparison system that compares each employee with other employees so that they can improve their weaknesses (Cintrón & Flaniken, 2015, p.
3.1 Competition
Rock Paper Scissors salon is a new and upcoming business. As such, it may be affected by existing similar businesses that have existed a longer time and, hence, have loyal customers or higher market share (Pulaj & Kume, 2013, p. 65). The competition may affect Rock Paper Scissor in terms of investment where established salons can invest in purchasing high-tech and modern equipment, and are able to adjust based on environmental conditions and the models they have applied throughout the durations of their operation. Upcoming businesses such as Rock Pair scissors have to undertake a competitive analysis to understand the weaknesses and strengths of competitors …show more content…
An analysis of the Rock Paper Scissor salon divulges that it lacks the four basic management functions of planning, organisation, leadership and control. This is the case because the business lack a vision and mission statement that enables planning, an appraisal system that provides insight for internal control and organisation, an appraisal system that motivates employees and a business culture that encourages innovation and high-performance. The role of visionary leadership is crucial in facilitating strategic planning and risk-taking, which is needed for innovative thinking and execution. Additionally, the external environment influences the business and managers have to be able to create flexible situations that allow them to transform with the contemporary challenges that arise from the external environment. This can be done by analysing the external environment, for instance, competitors and technology advancements to know how to leverage and apply …show more content…
Papulova (2014, p. 13) notes that a mission and vision statement helps create a culture based on what is prioritized by the business. The vision statement can focus on the customer service or high performance.
2) That the management begins to receive a monthly financial reporting in able to determine its profitability. According to Zimmerman and Blythe (2013, p. 52) being able to measure profitability of a business is important because it allows strategic planning and elimination of waste that increases cost of operation. If the business is operating as a loss, it becomes much easier to determine the strategies to use to improve sales.
3) That the management incorporate an appraisal system that measures staff performance in order to solve their dissatisfaction and improve areas of weaknesses. The recommended model for accomplishing this is the paired comparison system that compares each employee with other employees so that they can improve their weaknesses (Cintrón & Flaniken, 2015, p.