A Formal Strategic Business Plan - 1094 Words

Executive Summary: Elizabeth Bennett, founded CanGo in 2006, she wanted to make a mark in the world of ecommerce. Over the preceding years CanGo established itself as an online success. CanGo provided customers with the option to purchase books, music, videos and games online. CanGo maintained its success throughout the economic crisis. CanGo continued to successfully provide customers with affordable entertainment. CanGo was able to capture a large market of a variety of consumers. CanGo had its fair share of concerns. One major issue that CanGo faces is that it does not have a formal strategic business plan. The organization has failed to define its goals both short and long-term. The organizational structure needs to be revised as well. The roles are clearly defined but CanGo often submits to a unified form of decision-making. The owner, Elizabeth Bennett micromanages each and every decision-making process almost to the point of paralyzation of the company. The company also has an issue with poor co mmunication, which normally results in staff members with unclear goals and deadlines. CanGo is operating, however, it’s neither effective nor efficient. The online entertainment industry continues to grow at a extraordinary rate, with new customers appearing on a daily basis. There is also another form of competition that the company has to contend with, which is the online pirating market, where customers are offered the opportunity to download the same type of productsShow MoreRelatedBenefits Of Formal Planning At Running Scully s Scallops Essay1306 Words   |  6 Pages PART B INDIVIDUAL ASSIGNMENT 1.The benefits of formal planning which might help Roger in running Scully s Scallops; A.It gives a sense of direction with in organisation- When formal planning is weak or unstructured or too free flowing.Some employee might find themself out of track and feel disguised which leads them to not fully contributed to their task.As a result,employeesRead MoreStrategy without action is only a daydream, but action without strategy is a nightmare Discuss the benefits of formal corporate planning in directing organisational action1588 Words   |  7 PagesIS STRATEGIC CORPORATE PLANNING RELEVANT IN THE 21ST CENTURY? 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