To: Board of Directors, " new world " Computing Inc.
By: Casey Hampton, Consultant (Vidhan Jain)
Subject: Consultation report
Executive Brief summary:
Working on a fresh, innovative and an easy to use merchandise in the form of Pulse in the developing market of medical technology, New World Processing has tapped what is a very promising organization idea. With limited competition and excellent product design, the organization has enormous potential to mass market its product and to reap the benefits of the growing medical information system industry.
While Rosenberg Minsker and we continue to remain optimistic regarding the prospects and always pitch to new clients, we have not had the opportunity to deliver the promised deals on time and fulfill contractual obligations. Existing clients will be thus beginning to express discontentment and are retracting. Inability to provide these deals on time and failure to charge for services leaves New World Processing in a funds crunch circumstance, requiring working capital of about hundred buck, 000 to fund its functions.
Following being approached by Laura, I have chose to help " new world " Computing through a pro bono consulting agreement. This kind of venture symbolizes an opportunity personally not only to relinquish to the medical technology industry, but to also get a promising organization idea back on track. The first step is to build a report which in turn would research;
2. What issues/problems within the firm have obtained New World in this dilemma? * What can be done to improve the case of the company? * What should be the long-term vision and business plan achievable World Calculating?
The purpose of this kind of report is always to explore the causes which have obtained New World in to this situation, to recommend a few alternatives for changes in management, and also to demonstrate just how incorporating these changes might lay the foundation for a thorough business plan, which usually would allow New World Computing to accomplish its full potential being a pioneer inside their industry.
Overview of Conversation
After browsing literature about technology start-ups and comparing that materials with " new world " it appears that the majority of mistakes are typically in the administration of the enterprise. The company contains a wonderful product in the form of heartbeat which is able of being mass marketed within a relatively new market. It appears, yet , that blunders have been constructed with regards to negotiation of contracts, inability to impose customers to get services, plus the compensation of employees. Moreover there is interior conflict inside the company and dissatisfaction numerous employees. One of the primary challenges " new world " faces is to retain the providers of the top level employees. These types of concerns may be addressed by simply changing the management tricks of the company. The report tries to suggest some of these adjustments, and also lies emphasis on the incorporation of recent procedures, especially those with respect to more rigorous paperwork policies and research environment.
Introduction to Dialogue
To develop a whole understanding of the issues for the concern, I have examine literature about technology start-ups and as opposed notes and observations coming from my past assignments to comprehend the reasons pertaining to the failing of start-ups and as opposed those variables with the ones in the firm which may be triggering problems. Following reading all those articles and reviewing my personal assignments, there are plenty of similarities involving the management concerns of new start-ups and those faced by New World Company.
Issues and Concerns:
After reviewing you can actually current contracts and contrasting them to comparable ones inside the existing market, New World Processing is overpaying royalty to some institutions. In addition , Laura provides expressed matter in her report regarding the billing structure of certain agreements which may should be re-negotiated. On time delivery in the promised application has also emerged as a serious problem. New World Computer may have made promises and...
Cited: a) IDCC 320 Assignment 5, case Handout ( Applies taken from the case)
b) Inability Process and cause of Organization Bankruptcy: a typology, Hubert Ooghe and Sofie de Prijker
c) Start up Business Advice from Business Owners to Would-Be entrepreneurs, Robert D. Lussier
d) www.investopedia.com Keyword Search: Business Plan