ACME Electric Motors and Controls

2. Long-term strategies

Marketing

On the long run, the American organization should try to enlarge and consolidate their market share. They should constantly conduct research as to identify the new needs and wants of customers and integrate them within the ACME products. The success of this strategy will be obvious once the manufacturer is able to identify and satisfy needs before the clients become aware they even had those demands. The long-term strategy will be a pull one, where the audience is drawn towards the product, placed and promoted to represent the American tradition.

Operations

The ultimate operational desire for the ACME officials should be to increase efficiency. To achieve it, they should implement time management programs. These programs are aimed to increase the quality of the tasks performed within a given time. Also, they should combine them with training programs that teach employees how to reduce procrastination and how to work better. However these trainings would initially require additional expenditures, they would pay out in the long-term as the company would be able to reduce the number of employees and the remaining ones would be highly skilled and therefore able to cope with the extra work.

Finance

However the delay in the purveyor and employee payment can retrieve some successful results, this is only possible in the short run. On the long-term, the company has to find other ways to keep costs to a minimum as to be able to offer a reduced retail price for their motors. In this order of ideas, they should apply for governmental subsidies and should increase their capital through either loans or stock issuing. Each of the two alternatives has both advantages and limitations, but the issuing of stocks has the advantage that shares could be sold to ACME employees as an incentive.

Also, the company should make increased efforts to recover all their account receivables and reinvest them in an efficient manner.

Human Resource

On the long run, the staff members must be motivated to increase their performances. The corporate officials must align the individual goals of employees with the overall goals of the organization and this would then ensure that the workers perform at higher standards and support the company in reaching its objectives. A way to do this could be to allow the employees to purchase corporate stocks and directly participate to the profit sharing – as such, they would be personally interested in the organizations success and would work harder.

Legal

Aside from acquiring patents for their products, the company should forward request for state subsidies. Their requests would be backed by strong arguments that would convince the federal authorities to subsidize ACME Electric Motors and Controls Company. These arguments would revolve around the need to protect small and medium size national entrepreneurs from the threat of cheap foreign products. Basically, due to the need to preserve the American industry, the federal powers should support the future development of ACME and could offer financial subsidies that would allow the manufacturer to reduce their retail prices.

References

Fleming, J., Senior, B., February 2006, Organizational Change, 3rd Edition, Prentice Hall

Paley, N., April 1999, Managers Guide to Competitive Marketing Strategies, 2nd Edition, CRC Press

Jackson, J.B., March 2, 2007, Product Positioning Strategies, Ezine Articles, http://ezinearticles.com/?Product-Positioning-Strategies&id=474245,last accessed on July 10, 2008.

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