In the case that I receive $1million to start a business, a Property Preservation Service company would be my ideal choice. The company will offer services such as general security, lock work, lockbox installation, pool servicing, debris removal, eviction representation, and landscaping. These services will aim at guaranteeing clients the safety of their premises and external interference prevention. Additionally, in the event of hazardous occurrences in personal properties, the company will offer rescue services while disposing off any debris that may have resulted due to the collapse of buildings. With the dynamism in the housing industry, the company will offer up-to-date services that ensure safety and the elimination of risks to clients. In this regard, the company will continuously generate revenue that will promote the profit maximization objective. Therefore, the firm will embark on a staid business of providing quality products and services desired by customers. This will necessitate the firm to formulate a proper organization structure that will facilitate its smooth operation (Investments, 2009). The firm’s location will be accessible and convenient for the reception of supplies and handling customer services.
The organization structure of the company will consists of three management levels. These include strategic, tactical, and operational levels. The strategic level will have three management departments of human resource, finance, and production management. The human resource department will facilitate the proper management of the human asset. Since the firm human capital will be critical, it will select and recruit various individuals who exhibit the required skills, knowledge, and experience. To ensure the sustenance of low labor turnover and workers morale, the organization will appropriately remunerate the employees and provide them with multiple forms of benefits. Additionally, the firm will foster the employees’ growth and development through further training or promotion (Rosenbaum, 1998).
The finance sector will oversee the management and reporting of financial matters. In this regard, management accounting and financial reporting will be critical in evaluating the business financial performance and position in the industry. Management accounting will entail the reporting of the firm’s internal operations to guide its performance evaluation and operation control. Financial accounting will entail the reporting of the organization’s financial matters for financial communication to external parties. In this regard, the organization will comply with the business law requirements and could use such information to source for additional funding.
The production management will comprise of various units that will ensure the production or acquisition of products and services in demand. Furthermore, the department will assimilate the processes that guarantee effective delivery of the required services. This department will be critical since it is involved in the security systems production, evaluation of disaster management routines and handling maintenance services. In this regard, the firm will recruit experienced and skilled structural designers and technicians for the task. These individuals will guide the organization in evaluating the market requirements and developing prospective products. On this note, these individuals will process the clients’ demands and orders according to their specifications.
For the organization to realize a large market share and influence, it will embark on a continuous and thorough marketing and promotional campaign. The marketing will entail the use of advertising, personal selling and internet marketing. Since the services of any property preservation company are vital, the company will design a website where it will display its services and products. For effective internet marketing, the company will embrace internet marketing strategies such as search engines optimization (SEO), pop-ups and email marketing (Kay, 1995). Similarly, the firm will employ considerable television and radio advertising. These approaches will facilitate the firm’s market popularity and favorably counter any competition. With the increased social media users, the firm will target its potential customers by creating groups in media such as Facebook to create awareness and inform customers of its latest products and services. To encourage the existing and potential customers, the firm will offer bonuses to promote their loyalty. Additionally, the company will offer after sale services to its customers. Although such services will be costly to the firm, it will attain a competitive advantage in the long-term.
The process of increasing the market share will necessitate the firm to offer its products and services globally. Since the internet provides a common platform for all individuals, the firm will get a humble opportunity to reach customers worldwide (Markusen 2002). The company will embark on external funding to foster the realization of such targets. Similarly, the company will set up regional branches that will promote the delivery of its services in the international market. For effective international trading, the firm will have to establish a user-friendly website with up-to-date products and services. The website will contain a shopping cart and means of guaranteeing the safe reception of payments. For the firm to gain customer’s trust and respect, it will outline proper means of delivery of the services paid for by a client. Since security is a considerable challenge regarding online transactions, the firm will employ proper measures to protect of its activities from hackers and crackers. The firm will mitigate any internet threats like distribution of malware, viruses, and worms.
The role of the tactical and operational level of management will be to implement the decisions made by the top management. To promote a good relationship, the top management will humbly consider their ideas and recommendations during policy formulation. At the same time, these segments will be motivated to ensure the effective delivery of the firm’s goals. The tactical management will be involved in outlining the means of realizing the formulated policies. For the operational management, their main duty will be to oversee the day-to-day operations. Through the effective handling of the major and minor policies, the firm will attain its profit maximization goal. Thus, the contribution of all the firm’s segments will be adequately involved. Moreover, the organization will reward them appropriately.
If given a chance to be the CEO, my main interest will be to oversee the production department since it is the organization’s cardinal unit. I will attempt to create varied products and services that will meet the customers’ needs on a large scale. This process will demand the enhancement of innovation and creativity within the employees. Since the main influencing factors are knowledge and skills, l will emphasize on the training and education of my staff. In this regard, they will become exposed to new ideas concerning the business activities. This will boost the development of new and unique products and services that will enhance the firm’s general rating as compared to its competitors (Sisodia 2007).
After identifying the innovative ideas and testing them for market validity and applicability, it is essential to analyze the market conditions and means of benefiting from such factors. Therefore, I will focus on establishing the products demanded depending on demographic, gender group, age group, geographical and status quo of customers. By observing customers specifications, it will be possible to segment that market and offer varied services with different prices. For most of the customers, the organization will offer customized products and services. In the event of disaster management, the firm will emphasize on convenience and consideration. Additionally, the firm will offer security systems that meet the clients’ direct needs with regard to their safety.
Since the production department demands a connective relationship with other units, my central focus will be to boost coexistence and coherence within the firm. Through this initiative, all participants within the firm will feel appreciated and involved. Similarly, influencing people towards the acceptance of the firm’s mission and working towards the realization of its objectives will improve the firm’s image. This will demand the establishment of the organization’s culture and customs. With time, these norms will become integrated and promote the overall relationship within the organization. This will contribute towards the upgrading of the business goodwill. Over time, the firm will flourish and succeed providing its initial objective of profit maximization.