REPORT FOR THE CYCLERMATE MANUFACTURING FIRM Executive summaryCyclermate company is bicycle manufacturing firm which had good development record for fifteen years marked by tremendous growth, the company managed to produce one prototype bicycle which was used for marketing, thereafter the company got two orders to sale the bicycles and from there the business was launched which saw the firm with a greater boost of its sales. As a result this great success the company relocated and acquires the following assets; 15000 square feet warehouse with an inclusive of 2000 square feet of an office accommodation valued at £240,000 moreover they had a higher demand for their products with little level of advertisement.
Since, their product was of higher quality and the word of mouth reputation was enough to maintain their sales volume. However by 2010 the business experiences a lot of challenges, first the prices had been reduced to maintain the sales but the demand continues to decline, secondly there were an increase number of complaints from the market about the poor quality and faulty products. The working environment became hazardous due to lose cables in the firm resulting into injuries prompting the firm to lose lot of money in compensating the injured partiesIn attempt to restructure the company, several problems are realized for example high cost of production and increased of overdraft from the bank.
The firm still had unsolved problem s which needed attention, the company is assigns multiple roles to employees which in-turn causes ineffectiveness in production, to add on that the workers work extra time without pay, shortage of materials is one of the problems which contribute to the company to run out of the finished products.
These troubles compel the shareholders and the managers to hold series of meetings to salvage the company from collapsing and losing its goodwill in the market. The shareholders had different opinions which did not yield good results prompting the stakeholders to look for consultancy services from expertise (Graves, 2008). IntroductionCyclermate is a company that deals with the manufacturing of bicycles. The company is experiencing problems that pertain management, production and even on how to capture and retain their esteemed customers in the market.
The findings is to produce a detailed report on how the company is going to be efficient in its management, how to deal with the employees welfare, how to produce quality products and more so lay down strategies on how to regain the lost goodwill from the market. Problem statement The company is realizing some internal troubles which indeed call for some measure; the above problems if not given great attention are going to derail the key objectives and missions of the organization. Therefore the findings try to look for ways for the bankers to attend to these problems.
By doing so the firm is expected to regain back its position of operation, retain and win more customers in the market. ApproachThe report draws the important steps recommended to the bankers to be taken to solve the problems. Although these will be highlighted in the later chapter, it is important to state them; Initially the Cyclermate firm bankers will have to adopt some new strategies of minimizing cost and expenses in the meantime and employ new strategies of increasing sales volume, by carrying out persuasive and informative advertising apart from doing that, more important is to take into consideration the suggestion highlighted by various shareholders and their reliable expertise.