Successful organizations will take risks that will highly likely increase their cash flows. Even when such organizations are struggling financially, they will identify opportunities with high potential of increasing their cash flow and risk investing into such opportunities ( Klyuchankin, 2017) . Currently, my organization has identified such an opportunity and it presents the potential to improve the cash flow to impressive levels. The prospective increase will mean that the organization will have the opportunity to stay afloat and have a chance at maintaining its competitive advantage. With the current product at hand and limited financial resources, it would be necessary to identify and employ strategies that will help catapult the new product to desired sales.
A strategy I believe would help in gaining the needed financial support is bricolage. Bricolage would encourage improvisation and resilience even with limited resources ( Azigbo, 2019) . Our focus would be on networking and relationship based strategies that would help increase our access to financial resources. Our new product has immense potential to make positive impact is society which means that it may not present such a challenge in getting people to invest. We would engage in symposia to help get out product out in the market and to appropriate individuals, groups and professional associations. The symposia will involve demonstrating to all involved parties the effectiveness of our product and how it was going to revolutionize how they do business and the lives of consumers in general. The product will sell itself to potential buyers who will be willing to make initial down payments to have their share. These initial payments will mean that even as we wait for the product to bring returns in two years, we would have possible sources for production and overall organizational operations.
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References
Azigbo, U. K. (2019). Strategies for New Product Development in an Emerging Market.
Klyuchankin, I. (2017). Cash Flow Management. Case: RE Trading LLC.
