In this competitive world, companies have focused on the attractiveness of their products to the consumers while still aiming for the set goals and profits. All the factors that influence competition also influence the management structure of the company. The management structure needs to align the policies drafted with the goals and objectives of the company. As with ebessnee eyewear, there is a need for profitability while still maintaining the highest level of production and consumer satisfaction. On this note, it is important to understand what the company entails: ebessnee eyewear is a company that deals with the quality production of eyeglasses, particularly as an accessory. The company has worked towards the goal of producing eyeglasses on all fronts but more importantly as an accessory, either for dating, interview etc. Production as an accessory is because surveys have indicated that 46% the American society prefer to wear glasses as an accessory.
According to the business plan of the company, competition is expected from prescription frame manufacturers and wholesalers who particularly distribute through optometrists and a national chain. In this respect, it is important to consider that the company deals with the production of different glasses all with different colors and different frames. Furthermore, the eyewear from ebessnee will mainly be used as an accessory to compliment the looks rather than prescriptive and in this, it is expected that there will be little or no competition at all.
ebessnee eyewear has come up with various measures to stay ahead of potential competitors. Some of the measures used include building customer trust and relation particularly by offering free video tutorials and advice; offering a range of products that will meet the demand of various age groups and offer additional services such as stylish carrying cases and follow up services.
It is important for the company to consider proper investment to ensure that there is little future competition. Some industries have the potential to grow and through observation, the eyewear industry can be transformed into a hotbed of corporate activity considering the future has all the indications of the convergence of fashion, health trends, demographics and the internet (Sanderson, 2016). It is therefore commendable that the company has ensured that their market is the growing population and the internet has been used as the primary communication tool for the products offered.
Company’s Vision and Management
The vision of the company is to exceed sales of $380,000 in the first year and over 1.7million in the second year. Considering that the company intends to grow over time, financial management may be the best route to take.In this, it has always been stated that proper financial management enables companies, big or small, to survive volatile economies and industry competition (Emerson, 2015). As a matter of fact, small companies are the ones more likely to be affected and therefore need to exercise the best financial decisions from the very beginning. These companies, therefore, require managers that have the capability of handling finances.
Ebessnee eye wear has MS. Anita Perry at the helm of its management and considering her credentials per se, she is bound to have a positive impact on the company’s growth in line with its vision. She had experience in finance and account which have been described to be crucial for every company’s growth.All that is required is to ensure the company withstands turbulent times by maintaining its operating costs and ensuring profitability.
Emerson, m. (2015, February 10). ^ tips for managing small business finances. Retrieved from www.succeedasyourownboss.com
Sanderson, R. (2016, April 8). Luxury wear in the spotlight as brands focus on the sector. Retrieved October 17, 2017