Best Financial Services Inc Essay

1963 Words Mar 13th, 2016 8 Pages
Critical Issues:
In order to grow Best Financial’s business steadily in the future and make it become a leader in the Sarnia market, it has to address the following: * How to increase the daily work efficiency in the office so that Best Financial can serve more clients than it currently does which is 600. * Which option Linda should choose so that the company will grow in a sustainable way. * How to maintain existing clients so that Best Financial’s existing client base (600) will be loyal and stable. * How to develop a new marketing plan so that it will be more cost-effective. (unnecessary marketing expenses will decrease by approximately $550 per year)
Analysis:
Due to Best Financial’s good work ethic and values, its
…show more content…
Actually, Best Financial has already been on the right track, it should continue working on enhancing client relationships so that the client base can be enlarged, because trust is always the most essential thing in financial services industry. (See exhibit 7 for new marketing plan in 2008)

Recommendation
Actually, Best Financial’s past performance was very good (Exhibit 8), but the loss of Gerald Young indicates that it should focus more on providing better services for existing clients, especially those top clients.
In addition, since Best Financial wants to grow in a sustainable way in the future and become a leader in the Sarnia market, it has to make some decisions that serve the company’s long-term goals even if they may bring current losses.
Action Plan (See exhibit 9 for the projected income statement in 2008 based on this action plan) 1. Teach employees those 10 small work tips to increase work efficiency (Exhibit 4) 2. Find a new advisor whose work ethic and values are similar to the company’s, and train him/her so that he/she is able to run the company without Linda in the future. 3. Launch the new marketing plan immediately (Exhibit 7)

Work Cited:
Morrison, M. (2015, April 24). No One Trusts Advertising or Media (Except Fox News). Retrieved January 9, 2016, from http://adage.com/article/media/marketers-media trusts/298221/

Related Documents