Need help with my writing homework on WA # 6. Write a 500 word paper answering; Lecturer Paper Small size businesses require being actively sensitive to the volatile trading environment which affect the whole industry. As market grows, competitors emerge into the market whereas innovation shoots up the technology thus shifting the demand. This calls for continual watch out for ways to improving results of highly quality products and services that enabled the customer appreciate the value for money s/he has parted with. In this paper the focus will be based on drink and food industry that will need to develop and distribute such in a cost reduced manner for the maximization of profit. (Frewer 43)
Customer needs and requirements. for instance, the drinks and food sold should reflect the taste and preference of the customer in a given market. This operational plan will consider some few attributes which are most valued by the customers. Another strategy for improving quality is through involvement and communication, as was asserted by Lin Grensing-Pophal “even those not involved on the process improvement team need to be informed of the plan and the intended result” (2005). Whenever information is clearly disseminated to the employees the improvement goals and activities as well as the side they can play to impact those activities the greater the value of the result. The other ways of improving the quality in production may call for the following elements, defined and well managed processes, and integrity criteria of job management. Subsequently it narrows down to competencies, such as knowledge, skills, experience and qualifications. The quality of the product is at risk if the soft elements like organizational culture, personnel integrity, motivation and team spirit are not envisaged in operation process. The quality control will be provided by physical inspection and lab testing in compliance with the market standards and company’s specification and also in line with ISO standards. (Frewer 53)
Technology has a major impact in the way all businesses operate in the world today since every person want to go global in order to increase sales volume. The company that deals with camera is likely to have various segments of the market that is to say local and international markets which in turn will call for e-commerce in its’ operation. When transactions are done via internet there will emerge information risk due to many different type of personal and sensitive information concerning customers. This requires the company to build strong internal control system to curb cases of stealing of information that would bring its operations down and thus losing market share. The proper contingencies measures would include electronic shopping carts, firewall and encrypted websites. The authorization access should also be exercised limit the threat that could arise. Financial risk is one of the factors that face the companies across the board regardless of size or way of operation. Camera business may face difficult time to secure external funds in that they might luck sufficient assets to charge as collateral. The lenders and bankers normally require parameter of the asset base to be used for accessing the credit worthiness and long term viability of repayment of the loan and not the liquidity. Generally the expenses may out do the cash flow, because a lot of fees are involved in protection of electronic shopping carts, website and hosting. (Frewer 79)
These expenses will be required to be parted with by venders who operate online. To mitigate such risk the company must employ qualified and highly experienced management team to execute its operations. Camera mostly deals with technology therefore technological risk will affect the business so much. To overcome this challenge company will need to change and tailor it products in line with the current technology or otherwise outsource to reduce operation cost. (Frewer 23)
Frewer, Lynn. Nanotechnology in the agri-food sector implications for the future.
Wiley-VCH: Weinheim. 2011.