Question 1
Several elements present problems to an organization, including people, process/facility, and technology. When it comes to people, hiring and maintaining the ideal individuals to match the culture of an organization is vital to getting ahead. Selecting the ideal team is crucial in that they add productivity and experience that would allow a company to thrive while at the same time sharing duties, collaborating with each other, and addressing the prevailing issues. Teamwork is essential to ensuring that an organization continues running smoothly. However, companies face hindrances in selecting the ideal mix of individuals to work toward realizing organizational goals (Willas, 2018) . Challenges in selecting the proper people means that a company lacks the appropriate skills thereby hindering organizations from realizing efficient performance.
Regarding processes, companies face issues in when managing finances and cash flow. Cash flow serves as a major reason behind companies falling into oblivion. Funding an enterprise is a challenging task due to the need for spending money in an effort to make it. Thus, the issue of using budgets while controlling costs presents major hindrances to companies. On matters related to financing, therefore, organizations need to have comprehensive plans flawless processes to facilitate in effective business financing. Firms also face hindrances in keeping up with updated technology. Technology is changing at a rapid pace. Many firms need to make sure that they invest in latest technology to allow them to realize increased productivity while at the same time minimizing enterprise overheads (Willas, 2018) . In today’s world, companies need to ensure that they move fast while adapting new technological solutions, which many organizations find expensive while hindering them from realizing their core objectives.
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In the event of startups, they can follow several steps to avoid issues when launching a product or service. One of the means of doing this is through getting the validation of the customers. The product or service that a company is creating should have the validation of consumers, such as talking of the product before building it to determine whether they understand the value that it provides. After doing this, the product team should be offered the information in a timely manner while making sure that managers engage with the marketing, advertising, sales, and public relations professionals hence realizing valuable feedback that can improve product launch. An additional means of avoiding issues revolves around setting expectations for the distinct internal parties. Distinct product launches end up failing prior to them getting off the ground because of miscommunications between the workforces and the expectations that need achieving (Willas, 2018) . A major way of circumventing this entails having an agreement between the marketing and product teams to ensure they understand the requirements and timelines prior to commencing promoting the product.
Moreover, setting clear expectations and processes is essential. This way, it becomes possible to receive approvals faster as things proceed. It is also possible to trust the product developers that they understand what they are doing. In addition, it is essential to focus on testing the product. Waiting until a product reaches perfection prior to launching it might lead to failure to launch it (Brubaker, 2018) . Testing products and services successful ensures that they deliver the promised outcomes hence avoiding problems when launching the product.
Question 2
Accurate forecasting delivers value in terms of effect of service delivery quality and potential company growth. Forecasting helps in formulating plans. It plays a critical role in planning because planning needs forecasts. The Forecasting serves as the foundation for planning, which makes it possible to understand future environment and conditions facing the market hence focus on the quality needed to deliver to customers. Forecasting allows enterprises to realize successes and growth. It makes it possible to procure the needed raw materials based on ways that a business undertakes its operations. Poor forecasting poses challenges in determining the needed production (White & White, 2017) . Thus, forecasting, particularly sales and budgets for other departments in an accurate manner ensures that different organizational departments remain productive and contribute toward business success.
Accurate forecasting influences the business decisions that companies make. Management decisions’ accuracy is reliant correct forecasting. Administration serves as a process for making decision whereas the authority is accountable for making decision while at the same time ensuring the implementation of the decisions. In the organizational setting, conditions usually change while unforeseen issues emerge. Additionally, it is crucial to make decisions in order to get things going. This indicates that the process of making decisions continues during the life of a business while forecasting plays a critical role in this area (Chmielewska, 2018) . For instance, regarding production, the management needs decide on what needs producing given the existing resources, while forecasting plays a vital role in fostering the correctness of the decisions.
Question 3
Certain target market demographics boost can boost the success of a company. Income serves as the major demographic influencing business performance. The products of a company are usually appealing to a particular income group. For instance, premium products appeal to high-income people. On the other hand, lower income individuals show increased sensitivity to prices leading them to prefer buying discount products. Persons having minimal income have declined disposable income. Value serves as a key determinant for the goods that they buy (Suttle, 2019) . Thus, a firm capable of reaching lower income people via discount wholesalers and retailers while at the same time attracting those with higher incomes become more successful.
Geographic regional variables also determine whether an enterprise will succeed. The buying preferences for people differ based on geographic location. Those meeting the requirements of buyers in particular geographic areas might realize increased sales and profitability. Firms selling flavors customers prefer in particular regions have higher chances generating increased profitability. Furthermore, the educational level of the buyers also influences the success of an enterprise since it affects the things that they purchase (Suttle, 2019) . People with higher education have higher incomes hence increased purchasing choices, which would drive the productivity of an organization forward.
Question 4
For many organizations, they have the desire of realizing continued growth, while various reasons for growing an enterprise prevail, such as attaining economies of scale. Nonetheless, certain instances emerge when entrepreneurs might decide to hinder the growth of their organizations. For example, companies might be driven by the urge for maintaining sustainable growth. Certain enterprises regard growth as needing capital. For a firm realizing thin profitability, for example, it might require major accounts receivable and inventory. A growth in sales of a dollar might require additional cash that it generates during the initial year. In the event that this serves as the case, business owners might decide on whether to seek outside funding or hinder growth to a rate that the organization would manage to generate with its internal operations. A company might also decide to avoid growing when it does not wish to risk its financial stability (White & White, 2017) . When an enterprise fails to deliver sufficient cash to the owner to realize financial goal, many individuals refrain from extra risk that would result from setting up new branches.
An organization is capable of determining practical limits to its economies of growth. One means of doing this is through comparing output to cost. A key decision that companies need to make revolves around the idea of owning or renting their space. Smaller firms find renting an affordable alternative whereas big companies are capable of owning their individual space in line with securing reduced mortgage rates. This serves as an instance of how economies of scale benefit big companies. Looking at the profit maximizing output also allows companies to determine practical limits to economies of growth. Each business has the desire of producing to its optimal capacity since this leads to increased sales (Rogers, 2019) . However, irrespective of the extent that a company needs to realize growth, it might need to limit production to levels that would boost profitability at the prevailing business state to avoid increased risks that come from more growth, which end up affecting economies of scale and profitability.
When determining whether a company is growing or in stagnation, it is crucial to monitor certain metrics. One of the key areas to consider is whether the organization has the needed processes in place. While it is crucial to ensure that the business approach remains flexible, it is crucial to realize that certain workflows contribute to operating a venture. Having processes that function well would make sure that an enterprise’s operations remain steady during the long term. Hence, it is crucial to focus on setting up early to facilitate in supporting the customers and the workforce to operate in an efficient manner while focusing on what is ideal (Chmielewska, 2018) . In this manner, it becomes possible to realize personal and professional growth.
An extra metric worth considering is ways through which the collaborators and workforce foster a positive work culture. Collaborating with other enterprises makes it possible to ensure that the organizational approach focus on establishing a positive atmosphere within an organization. A different metric worth considering revolves around the idea where prospective business employees and partners contact an enterprise regularly. Getting in touch with prospective employees and business collaborators bring value to an enterprise indicating that it is growing (Chmielewska, 2018) . However, when these things lack, it became evident that a corporation has plateaued.
References
Brubaker, K. (2018). 5 tips to prevent problems with your new product launch. Retrieved from https://www.bizlibrary.com/article/prevent-problems-with-new-product-launch/
Chmielewska, M. (2018). 7 signs your small business is growing. Retrieved from https://partners.livechatinc.com/blog/signs-your-small-business-is-growing/
Rogers, V. (2019). How to determine the size of a plant & economies of scale. Retrieved from https://smallbusiness.chron.com/determine-size-plant-economies-scale-80981.html
Suttle, R. (2019). The demographic variables that affect a business. Retrieved from https://smallbusiness.chron.com/demographic-variables-affect-business-24344.html
White, D., & White, P. (2017). 5 reasons to slow or stop the growth of your business. Retrieved from https://www.entrepreneur.com/article/290833
Willas, S. (2018). 5 key challenges to launching a startup and how to deal with them. Retrieved from https://www.smallbizdaily.com/5-key-challenges-launching-startup-business/
