Delia de los Reyes have made her mark in the publishing industry. Her company reached 10 million gross profit in just five years of existence. However, like any other SMEs, National Book Company made it without the aid of planning. Now, more than ever, the President should take a step further in managing a business but she is too self-reliant. She thinks that problems should be solved as they arise and that planning is just a waste of time, effort, and money.
II. AREAS OF CONSIDERATION
We now know that the company is going through a dilemma of lack of planning. With its growing problem, we have to consider several things. These are the president’s pride, knowledge, and the company’s ability to cope with the occurrence of problems and its ability to cover the planning expenses.
III. ALTERNATIVE COURSES OF ACTION
Present to the company the importance of formulating a plan in its business meetings.
ü Tell the President to establish meaningful goals and objective as this is the first step in planning.
ü Present facts or previous records of companies who fail because of not using planning.
ü Discuss to the President the importance of planning.
ü Discuss to the board of directors the importance of planning
Advantages:
· Very easy to deliver and accomplish.
Disadvantages:
· They can easily reject it because it is up to them to believe a person or not.
Present a book of successful strategies in business to the president.
Advantages:
· Easy to accomplish and understand.
· The reader can go back to the page he wants.
Disadvantages:
· If the reader does not understand what he is reading, he could not immediately ask for assistance.
· Circumstances are only well-rounded in the said events in the book. Some events with special cases cannot be answered directly by the book.
· It can cost of a person’s effort and time.
Conduct a business seminar and invite a rightful speaker.
Advantages:
· There is an actual dialogue between the speaker and the listeners.
· People can raise their questions if they are doubted.
· There is a minor consumption on time, effort and money compared to taking business course.
· There is a speaker to answer each doubt of the people who will attend the seminar. Those questions will be given an answer.
Disadvantages:
· There is a hassle to invite a speaker and for the seminar to take place.
· It can cost more of a person’s time, effort and money than those mentioned above.
Induce the president and the board to take business courses in a good business school.
Advantages:
· Knowledge is best learned in the four compartments of classrooms.
· There is an instructor or professor to back everything in the books up.
· There is an application of learned knowledge in the form of feasibility and case studies, theses, and management applications.
Disadvantages:
· More of the person’s time and effort is needed since a business course takes more than simple thinking and analysis.
· More of the person’s money is spent since business courses costs more.
Solve the problem of the old and new employees about their decision-making and do not plan.
Advantages:
· There will be no additional expenses incurred.
· The president will just have to face the problem and then move forward to the next without getting ready for it. Thus, she can save time.
Disadvantages:
· No plans means the company will carry on being unready for future-arising problems.
· The company will not be able to make trends and budgets as to future expenses and sales.
IV. RECOMMENDATION
The best way to convince the president that there should be planning in the case of her company is to conduct a weekend seminar with a very good entrepreneurial speaker and business strategists. It can cost of a person’s time, effort, and money; but it is worth everything. People can listen to the speaker and ask him questions for further understanding.
There is a two-way communication in the seminar, unlike in reading just books. People from the company can also take part in the seminar and understand more about business strategies which can be a good thing to the company. When everyone in the company is knowledgeable about running a business, arising problems will be solved easier. Like what Henri Fayol stated, division of work can be achieved easier with a well-rounded employees. A weekend and minor funds could be given to the seminar. The best thing is, everybody can take part in the said seminar and will be able to acquire knowledge.
V. CONCLUSION
It can be seen that the president of the National Book Company, Delia de los Reyes, has been through many ups and downs in the five years of managing her company. Delia has brought up the company from scratch and so she relies too much on her experiences and expertise that she doesn't believe in planning. However, as her company grows bigger, the need for planning arises.
It takes time, effort, and money to formulate a plan so the best action should be applied to make it all worth the work. Interaction between employees can open new things for the company. Questions and comments are raised and answered then and there so if Delia has doubts and contradicting opinions, she will be answered until she learns and is convinced of the many advantages of planning.
Thus, we can say that the best way to convince the president is to conduct a business seminar and invite a rightful speaker. Because, in this matter, the people in the company will come to realize that planning really serves them right and will bring nothing but betterment to the company. It does not cost too much of the company’s time, effort, and money.
