Introduction
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.
Industry Competition
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. Initially, to purchase non-prescriptive glasses, the buyer would purchase frames with non-prescriptive lenses at a cost of $100 to $ 300.Therefore, ebessnee has done many customers a favor by offering the whole package at a price of $250 to $1500.The price is relatively affordable to parties willing to purchase and has done away with the hassle of purchasing frames and lenses differently.
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). To mitigate potential competition, the company has put in place measures such as the distribution of the products through the website, focus on women between the ages of 16-50 who are fashion conscious, free shipping and delivery, money back guarantee period, free tutorials among others.
As with the vision to expand the distribution to independently own and regional shops and boutique, it is crucial for the company to manage profits while it grows. Financial management is, therefore, a crucial factor in this line of vision and has an effect of influencing the company’s management. In this, the company is managed by Ms. Anita Perry who has significant experience in accounting and finances. All the knowledge in finance and accounting will play a significant role in maintaining the company’s competitive edge while staying in line with the vision for expansion.
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. Furthermore, the company has plans for expansion and because of this, the company will need to exercise proper financial management. 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.
Ebessnee eyewear 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 and profitability in line with its vision. She has experience in finance and account and more to this has experience and knowledge with all aspects of business operations and management including accounting, purchasing, material control, information technology, legal contracts, and human resources. Therefore, the experience and knowledge that Ms. Anita Perry has will ensure that the company stays ahead of the competition while staying in line with the vision of expansion and growth.
Management, Vision, and competition
Ebessnee eyewear is a relatively small company and as such, Ms. Anita Perry is required to maintain her day job until the company’s business operations increase whereby she will transition to full-time management. Moreover, on the aspect of personnel, the company is to keep labor requirements low with the only use of labor in receiving incoming inventory shipments, preparing orders for shipment, and shipping the orders. The initial plan is for the management to supply the required labor but as the company increases, as in its vision, there will be part-time employment.
Furthermore, the vision of growth has influenced the management of the company, with plans to employ numerous laborers and managers as the company grows. Therefore, the aspect and vision of grow describes the strategies used for competition as well as the management.
References
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