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Question/Description

Mr. Faisal is the owner of a business firm for the past 20 years. Before this business, he had worked in a government department for sometime and he had learned the typical paper-based administrative procedures by which the government organizations are run, and he applied those in his business. His business was very successful in the beginning and he earned fame as a thriving entrepreneur. But, recently many of his competitors have left his company far behind, because they are applying the various new concepts of E-Commerce in their businesses. Keeping in mind that by using E-Commerce, an increasing number of companies are gaining competitive advantage, what immediate steps do you suggest for Mr. Faisal so that he can revive his business again and be able to compete with his new competitors.

Solution:

In my opinion, Mr. Faisal should have immediately start conversion of his administrative paper work into E-Commerce, because without adopting E-Commerce, he cannot compete in this global business world. He should have to establish a website for his business to interact with his suppliers, customers and clients. He should also make arrangements for advertisement of his business.

Another Solution:

IMMEDIATE STEPS SUGGESTED FOR MR. FAISAL.
> Mr. Faisal should adopt computerized accounting system in his organization.
> He should changes the old paper work pattern into computerized system for office documents and works.
> He should launch a Business Official Web site. Where he can target his market globally and remain in touch with customers.
> Mr. Faisal should adopt the new pattern of technology for product’s promotion.
> Mr. Faisal can fastly contact with suppliers by using email service.
> He should introduce computerize track inventory system.
> He can aware about his business and products to customer by using web facilities.
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Another:

April 11, 2011 At 12:01 A.M. (Mid-Night)

April 15, 2011 At 11:59 P.M. (Mid-Night)

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Vision is just like an art of watching the things invisible. The vision of the

ABC company is to have such products that are affordable, reliable, safe and

environmentally acceptable. This company is is high degree characterized

and is accountable for successful fulfillment of their company.

Prepare a mission statement for new production plan?

Answer 

mission statement of ABC company to develop manufacturing resources and

to provide a product of good quality to their customers. They conduct their

business responsibly to achieve a great financial return which would be

balanced with their long term business growth.

What factors you will have to take into account to start a new business?

Answer 

Research and development department should consider the following factors:

Total project cost

Availability of professionals

Availability of labors

Technology

Economy

Experience

Demand in Market

Capital