Q2: Suppose that you are required to work as consultant to the organisation, what suggestions will you give to the company and why?
Assuming
that I will work with Betmar, as they have acquired the company now and they
have a task in hand to make it production ready in 6 weeks. I would like to give
following suggestions to John Miles and John Potter:
1. Assign 2
senior staff members, who have been with the Millie’s since beginning, for quality
control work. Together, they have to make sure that the original quality of the
chips are maintained and there is no compromise to that.
It is important to maintain good quality of chips as Millie’s was serving niche segment and customers in such category may shift their demand based on preferences.
2. There is an urgent requirement for professional maintenance of company accounts and it is best to hire a third party service provider for that.
Being an external accountant and auditor, the professional will be unbiased towards Cost and benefits and can help us to manage the company more professionally.
3. Regular interaction between the management and customers is needed to make effective strategies for future business growth and expansion.
Therefore, it is recommended that Millie’s should reach to its customers to get feedback directly and initiate dialogue with them through social media, road shows, promotional events etc.
4. Being a niche chips manufacturer, Millie’s was able to get business even by selling less quantity at standard rates. They should use the original weights of 32 g for their small packets and 180 g for the large packets.
This will send a message to the customers that the original Millie’s chips are back in the market and company is trying to offer what it used to sell in the beginning.
5. To restart business once again is like starting from scratch. It is more difficult as the brand value has to be repositioned among the customers who once loved Millie’s. To regain the confidence, company must use economical ways to promote the brand using technology and social media.
This will help the company to save money on marketing and use those funds for business operations.
6. John Miles will have to take a call on Cost Vs Benefit, as lot of capital is required to acquire the packaging unit and also complete the trademark registration to safeguard the business interests. Spending large amounts on these issues is not a good idea. I would suggest them to outsource the packaging work for some time till the market share is acquired again and initiate the trademark registration but take it slowly and complete it over next 6 months.
This is to smoothen the cashflows and to regain confidence of the employees and customers.