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Business Plan Analysis: F1 Experience

Section One: Operations:

  1. Quality Management

Quality management was not effective in the business, There were the schedule adjustments, within the company was not effective, or the shifts and tasks changes of the individual, which can create the problems, in the event, the company may have to suffer the employee turnover in this case. There is a need to manage the staff properly and need to check the quality of work. This was the weakness of the company because the staff was not managed and improper or offensive schedule adjustments were there. Therefore, in a case of events, arrange by the company mismanagements by the staff can occur, for the efficiency every the company should retain and train the employees, through quality management and in this case, customers can retain. The proper staff should be there for any company, so the event can be effectively managed, and the customers can be satisfied.

  • Location Choice or site Planning

There was the problem with the location; the company does not choose the good location. The company has failed in managing the activities in the operation segments, however, of the activities were efficiently performed but the management does not consider all the strategies, in my point of view, there were many mistakes that were done by the company. The company for the betterment needs to consider the location that is effective and that can attract the customer, from overall the city, site selection or planning is very necessary for every business. In any organization, site is considered important and with the time, construction and improvement are also included in the operations, the estimated cost of the maintenance and other operation were too much, and the companies have to give the installments.

  • Employee Retention

The great faculty of the business can provide the facilities and the advantages to any business, but in the case of Indianapolis there was the inadequate staffing was also the weakness of the company, as the company hired the staff of the college, the staff was not experienced, may be the company face issue due to that. However, for the betterment there is need of the experienced staff that can deal with the clients effectively or successfully, the operations or the entire task that was undertaken by the staff, were inadequate, the planning or the strategies were not effective. In the business, the tasks need to be given on the daily basis. The working should be divided among the team or employees, in the company, example, turn off the alarm system, opening and closing the doors, clean window, remove the trash etc, all the tasks need to be planned effectively. The company needs to manage the entire task; the operations need to manage effectively, as the company needs to hire the experienced staff, for the entire tasks. There is the need to manage the employees effectively so that the employees and clients can be satisfied.

Section Two: Critical Risk:

  1. Risks Management

For the risk management, the company has to focus on the critical risks segments, related to finance while managing the businesses there could be many issues associated with the critical risks, the company Indianapolis can suffer the issues of the weak economy of the country. In my point of view, it could be the weakness of the company, because in this case company can face the financial losses. If the country is not supported, or the economy is weak, then there are chances of losses of customers, because the customer will not spend on the matters, which are related to such enjoyable factors.

Moreover, the company has to do something when the economy fails, or the people or customers spend less. The company needs to evaluate the risks on the large-scale. If the company fails to meet the require goals, there can be the issues, there is the need to more focus on the areas related to the sales, or economy so that the customers can be attracted, the general interviews or advertising and the walk-in customer’s strategies may not be effective in this way.

  • Give value to Customers

The company need to value the customers, the visitors should not be given harm; there are the weaknesses, in the projects, as the customers are not given the importance or value, as there were the issues with the staff and canteen. For the company, there is a need to focus on the canteen facilities to the customers.  The financial issues can also be related to the staff, there is the need to manage the staff effectively. The staff needed to be given the training, they need to be given protection, so all the system could be effectively performed, in the company, there should be the focus on the staff training, and need to give them the incentives so that the proper values can be given to the customers. All the issues were related to the staff management, the company failed to manage the staff.

  • Construction Risks

Construction needs to be done on time, as it is effective for every business, the weakness related to the construction delayed can also be faced by the company, we gave did analysis that the staff of the company, is not giving the effective results because the company fails to manage the staff. The company has to manage the staff if the company wants to get safe from the issues related to the construction delayed. Mr. Whisler also believes that the projects should not be delayed and there is need to focus on the projects and more on the employees so that the projects can be effectively done on the prices, the company faced the issue related to the projects. This is the good decision of the company and company can effectively deal with the issues in this way.

There is need to do the financial assessments, to get safe from the issues related to the finance and projects, there is the need to focus on the staff, the staff should be trained and need to be well prepared to manage the project related activities, the finance need to effectively manage, so that future issues cannot be there.

Section Three: Marketing:

  1. Pricing Strategies

Pricing strategies are very important in any business, to get advantages from the other companies, there is a need to set prices effectively, for the good market share in the industry, the company needs to decide the prices efficiently so that advantages can be there, and maximum regulars or customers can buy the services. The pricing strategies were not effectively decided, the company struggled and the there were only two tracks, where the racers can enjoy, the company has the primary and the secondary track, the company has the strengths, which can also be viewed as the weaknesses. From the competitive advantages from the competitors, pricing strategies can play important role in the growth of the businesses.

  • Advertising and Promotion

Advertising strategies need to be focused on the businesses, the customers can be attracted through advertising plans, the advertisement of the maximum space that is meeting the requirements of the customers of a city, and in this customers can be attracted. Maximum finance is needed; however, the management thinks that maximum money spends on the projects, may not give the benefits, as there is no need to spend on racing decor or the kart business, kart business may not give as what they expected or spend. The advertising should be promoted through involving the model or the superstars; there is the need to give the free trials to the customers so that they can be attracted. The strategies of advertising and promotion need to be followed for the effectiveness.

  • Focus On the Customer Services Strategies

There is need to focus on the customers services, the weakness while considering the cart business of the Indianapolis was, there was no snake bar, the people or the customers can be tired of getting nothing, most of the families and children, want to enjoy cart or any other enjoyable activity with the food items. The company was having no place to relax or eat; there was no lobby so that people can spend a time to relax or to get the pleasure. However, either was only on a soft drink that was available in, other than the soft drink; nothing can be remarkable, due to which company faced the tensions.

The company needs to focus on the customer’s value and focus strategies so that improvements and betterments can take place. The business needs to create the timeframe, for the effectiveness, there is the need to fulfill the requirements of the clients, there is the need to consider the management goals, for the effectiveness of eth business processes. The managers need to the reevaluation of the business and client strategies for the efficiency and effectiveness.

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