CanGo is considered to have had some success based on the videos from week 5-6. As such, the executives would wish to see the company expand even further in order to realize returns that are more profitable. Cango can improve and maintain the internal factors of cango by providing quality procedures for training employees and giving the employees feedback. For this expansion to happen, the executive management must weigh on profitability by considering available resources and the expenses that would be incurred in the process. There are six major issues facing CanGo, which include lack of defined expansion policies, lack of appropriate review system, staffing conflicts, staff appraisal, staff shuffling, and
Issue 1: Lack Expansion Policies
CanGo has no definite expansion plans that would help it grow further and make great returns in the future. They are considering various possibilities including adding more e-books into their stock, online gaming, streaming of video or audio, and settling for an initial public offering. They are trying to expand too quickly and the business is not made up to expand that quickly. They lack the staff but they also lack the capital to expand as quickly as they need to with the revenue they are bringing in.
Recommendation 1:
The …show more content…
Go Getters does not believe that increasing the work load of existing employees is the proper solution to this issue. This approach will likely result in higher stress levels, and lower performance rates. If employees are not performing at their best, it could be hazardous to the company. Go Getters recommends that CanGo look into hiring student interns (Technology, 2014). Rather than hiring new full-time employees, CanGo could bring in a group of interns to assist with the established projects, allowing their current employees to devote their full time and energy to the expansion
Issue 1: Lack Expansion Policies
CanGo has no definite expansion plans that would help it grow further and make great returns in the future. They are considering various possibilities including adding more e-books into their stock, online gaming, streaming of video or audio, and settling for an initial public offering. They are trying to expand too quickly and the business is not made up to expand that quickly. They lack the staff but they also lack the capital to expand as quickly as they need to with the revenue they are bringing in.
Recommendation 1:
The …show more content…
Go Getters does not believe that increasing the work load of existing employees is the proper solution to this issue. This approach will likely result in higher stress levels, and lower performance rates. If employees are not performing at their best, it could be hazardous to the company. Go Getters recommends that CanGo look into hiring student interns (Technology, 2014). Rather than hiring new full-time employees, CanGo could bring in a group of interns to assist with the established projects, allowing their current employees to devote their full time and energy to the expansion