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Management Table of Contents

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Analysis of the most likely cause 4 3.1 Identification of possible solutions 4 3.2 Environmental factors 5 3.3 Most appropriate solution 5 4 Recommendations 6 4.1 Recommendation1 6 4.2 Recommendation 2 6 References 7 1. Discussion of organization problem Panda and Mickey fundamental problem is that it is carrying out marketing and promotion of its toys through traditional ways and this is increasing the overall cost of operations. 3.1 Identify the cause of problem Lack of effective marketing plan is one of the principal causes which has affected the sales and profitability of Panda and Mickey

Management Table of Contents

   Added on 2020-04-07

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MANAGEMENT1
Management Table of Contents_1
TABLE OF CONTENTS1. Introduction..................................................................................................................................32. Discussion of organization problem............................................................................................32.1 Identify the cause of problem................................................................................................32.2 Critical underlying cause.......................................................................................................43. Analysis of the most likely cause................................................................................................43.1 Identification of possible solutions........................................................................................43.2 Environmental factors............................................................................................................53.3 Most appropriate solution......................................................................................................54 Recommendations.........................................................................................................................64.1 Recommendation1.................................................................................................................64.2 Recommendation 2................................................................................................................6References........................................................................................................................................72
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1. INTRODUCTIONIn the modern era, efficient management of operations and business practices is essentialfor the long-term growth and success of companies. Furthermore, organizations are now requiredto emphasize on reducing the overall cost of operations and enhancing the margin ofprofits[ CITATION Smi14 \l 1033 ]. The present study is based on Panda and Mickey which isan Australian based toy company. The purpose of this report is to identify the problem withinPanda and Mickey, analyze its causes and define the most appropriate solution to deal with theproblem. 2. DISCUSSION OF ORGANIZATION PROBLEM Panda and Mickey fundamental problem is that it is carrying out marketing andpromotion of its toys through traditional ways and this is increasing the overall cost ofoperations. Panda and Mickey have recruited the team of marketing personnel’s who areresponsible for carrying out promotion of products near shopping malls, schools, and publicplaces. The traditional ways of marketing have resulted in increased cost of operations as thecompany is required to pay higher wages and incentives to all marketing personnel’s. However,even after so many efforts, the business is not at able generate higher sales and profits. 2.1 Identify the cause of problemLack of effective marketing plan is one of the principal causes which has affected thesales and profitability of Panda and Mickey. In today’s competitive world, companies arerequired to emphasize on developing result oriented marketing strategies and plans to deal withintense competition[ CITATION Sla15 \l 1033 ]. This cause of the problem is related tomanagement function of planning, and it has also led to increasing the overall cost of operationsof Panda and Mickey. It can be expressed that marketing planning help organizations to acquirehigher sales and profitability by providing right directions and guidelines.On the other hand, the cost of marketing is also increasing because the company ismaking use of traditional marketing tools. The door to door selling, advertisement on newspaperand promotional events are the essential marketing tools which have been employed by Pandaand Mickey. The use of traditional marketing tools not only increases the operating expenses butit also not able to provide desired outcomes[ CITATION She15 \l 1033 ]. Nowadays, the use oftraditional marketing tools is also considered as a forced method of promoting and selling aproduct. The result of this is that companies fail to acquire a higher degree of customer3
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