Get Your Assignment Done at the Most Affordable Prices
Get Your Assignment Done at the Most Affordable Prices
11 Pages 2806 Words 10156 Downloads
Increasing external market competition created complexities for the business in maintaining their survival in the external business environment. Focus of the current report lies on building of team for the post of business development managers. Various factors needs to be consider in the existing report which is essential for the better performance of an entity. Role of business development managers are analyzed in relation to various parameters in the current report such as innovation is taken as important factor in generating higher results in improving the overall performance of an entity within a given span of time.
Lombard Security Service is a security service provider organization who provides installation, servicing and maintenance facilities to the clients for the electronic technology equipment’s i.e. fire alarm, access control, security guard, property protection, GPS equipment and other.
Being a Business Development Manager (BDM) of the firm, it is necessary for Wendy Smith to identify the desires, needs and wants of all the four BDMs serving different regional areas. She must have a well-defined plan in her mind and must know that what activities she will have to conduct, what will be the objectives, how the work will be done to get the expected outcome, so that, she can align their tasks with the overall business aims and objectives. A well-defined review process is the most fundamental requirement for creating and managing an iterative marketing process. For obtaining required information, Wendy must conduct review sessions with the other team members on the current marketing plans and strategies. Mutual discussion will also assist her in finding out the actual needs & demand of the team members, risks in the existing marketing plan and required amendments demanded by the members, so as to promote and advertize the company’s services more effectively. It will help her to create operational plan, strategic plan, team-working plans and others for the successful management. She also needs to track changes in external environment i.e. technology breakdown, resource constraints and unforeseen changes and create plans accordingly for the risk management. It can include updated technologies i.e. modems, computer, scanner & others and decides that which lies under the budgeted limit. Besides this, monitoring her own performance against the set targets will assist her in making realistic plans for contributing towards success.
In this, various questions can be asked frequently to all the BDMs to evaluate the current progress, risk and issues suffering by the individuals in effective execution of the existing marketing plan and strategies employed to overcome such barriers. Besides this, meeting can be held to undertake discussion with the members so that they can express and share their actual need and demands as information is kept confidential. In the meeting, sales staff can also be asked with the need of proposed change in the current marketing plans of the firm, funding requirement, review existing sales targets and bonus and incentives plans as well for devising an excellent marketing and promotional plan.
In order to obtain information about BDMs work, Wendy can acquire financial information upon the sales target and current sales level in different areas along with the comparison of budgeted and actual marketing expenditures made. By gathering sales information, Wendy will be able to analyze and evaluate the effectiveness of marketing plans executed and identify that whether the allocated sales targets have been achieved or not by all the BDMs.. She also needs to exercise an analysis of the marketing plan, strategies and promotional campaign employed by all BDMs in different region and measures its success.
Success can be analyzed through comparing the quality of work, incurred cost, offered services and the time taken with the set benchmark. Besides this, performance management plan (PMP), performance appraisal & evaluation, performance reviews and other tools can be used by Wendy to monitor her own performance and productivity. It can be measured using KPIs (Key performance indicators) i.e. marketing expenditures percentage to sales will assist Wendy to examine that whether target marketing strategies effectively contributed or not towards sales growth.
In order to create an innovative team, Wendy must allow active participation of all the team members in devising various marketing strategies and promotional plans at local as well as national level, so that, they can share their innovative and creative ideas to boost Lombard Security Service’s sales and contribute towards business success. At the same time, there are number of issues and difficulties that might be cause while exercising the marketing plan. Thus, in order to overcome such barriers, team members must be authorized to create necessary plans to beat competitors marketing plans and maximize business sales performance.
It is necessary for the Wendy Smith to suggest their team-members so as to satisfy their own needs and expectations and encourage their potential to a maximum level. Sales team must be suggested with the updated marketing plan and new ways of marketing such as online marketing, social media marketing and various ways of differentiating the existing plans so as to attract greater consumer base for Lombard Security Service. In order to encourage and promote their efforts, sales team must be motivated continuously and their efforts must be recognized and rewarded by the senior authority for satisfying all the BDMs in different region. Bonus and incentive plans on the assigned sales target definitely helps to encourage the team potential to great extent and improve their performance.
Review is also considered as an effective way to give feedback to the team members and motivate them to perform better. Through PMP, staff member can rate their own performance as a method of self-appraisal and thereafter, manager verify it by either agreeing or disagreeing based on the actual outcome or results. Further, Development objectives can be designed by Wendy to provide direction to the team members how the things will be done and accordingly, HR department can create training schedules for maximizing their competencies. Conducting special trainings also encourage individuals to perform better by acquiring required marketing skills.
Besides this, involving active participation of all the members in marketing planning by using participative leadership style helps to promote innovativeness and creativity among team members. It is because, with the help of this, all the BDMs can give their unique suggestions and ideas for sales maximization. Apart from this, recognizing their sales performance will enable Wendy to promote individual’s effort as they will desire to perform better to get monetary i.e. incentives as well as non-monetary benefits i.e. praise by seniors. By the way of incentives, they will be encouraged and contribute best efforts in reaching the allocated sales target and maximize total turnover top a great extent.
Collaborative team-working practices will definitely give assistance to Wendy Smith to design the most effective promotional and marketing plan in order to attract greater consumer base to the business. Besides this, as said earlier, active participation will be considered as an innovative practice to generate creative ideas of all the members and build an innovative sales team. It will enable her to lead an innovative sales team and take the team to next level. She will also conduct training in which all the attendees acquire updated knowledge & various marketing skills to implement new and creative marketing plans to maximize their regional sales. For instance, new ways of online marketing, advertisement practices and other promotional strategies like offering discounts will helps BDM to boost sales to the maximum extent.
Continuous improvement process needs to be focused wherein Wendy can put focus over necessary strategies to improve staff performance. They can also consult with the team members via PMP, performance reviews and other techniques and devise plans for the better performance. It encourages everyone to involve in such process and provide them an opportunity for bringing continual improvement in their performance.
Apart from this, continuously monitoring & performance management plans will be implemented to track work progress and thereby measure that whether marketing activities are conducted in line with the budgeted cost or not. It helps to implement control so as to overcome cost overrunning issues. In addition, change management plans will be created to implement necessary changes, in this, participative leadership style will be of great importance to build positive attitude among members to accept changes.
Participative leadership style is the best way through which Wendy Smith can motivate and encourage their team members to contribute best in exercising marketing plan and thereby boost sales performance. It promotes innovative and creativity in the team as everyone wants to share their creative ideas and suggestions to maximize Lombard Security Service’s sales. Team-members will feel that their efforts are acknowledged by their respective seniors.
Open communication session can be organized wherein everyone can share their views freely at high level of transparency with the managers. It is really an effective way to collect feedback on the process to examine that how the work is going on to get the desirable outcomes.
Moreover, staff training programs can be conducted in which all the regional BDMs can be guided by the marketing experts with the innovative ways about how to marketing and advertise the firm in unique ways to generate greater sales. It will motivate people as they will get knowledge and build competencies in their operational areas. Various motivational plans i.e. rewarding and bonus plans can be designed based on the sales targets, so that, every BDM can be motivated to properly execute the devised marketing plans and strategies and reach targets to get extra monetary benefits in the form of incentives. Assigning more responsibility & praise by the senior also acknowledge the efforts contributed by the regional BDM in the success of the business.
Creating a good team is important process in an entity when talented people are recruited in joining a good team in accomplishing all the aims and targets set by a leader. A good team can be created by an entity owner when they focus on the core competencies of the business management. Synergy will be created in a team as each and every goals and the objectives will get achieved with the support of all the members in a team. Wendy need to understand its responsibilities towards their team as if they take initiates in a team then all the team members will also make their hard efforts in order to complete tough target in give span of time. A leader will guide its followers in completing tasks in the best way in maintaining higher accuracy in the work is the desired aim of a leader. Goals are framed especially in an enterprise to get it completed within a short span of time as the basic motive of the business concern is to accomplish their aims after considering each and every factor properly.
Wendy can allocate tasks among all their team members by conducting meeting and conferences in order to know the interest of all their team members. In this way, they can allot tasks in order to get it complete by all their members in short span of time. Team meeting will be conducted once in a week in order to create friendly working environment in a team. This will be helpful for Wendy in order to track the performance of all its members.
Allocation be leader is regarded as an important approach as in this process they will come to know about the talent of a person. Leader will delegate duties to an employee in order to create loyal employees who can trust on their leader and able to take initiative for risky paths in the business. The innovation and creativity can be brought in an entity by promoting all the skills and the capabilities of an employee.
Case study method will be used as one of the important team activity that enhances the communication skills of all the members. With the help of this approach, they can easily solve all the problems by taking help of all the members in a team. Helping attitude created in a team that help Wendy in order to reduce the workload of a whole team. Work in a team will be easily managed when Wendy launches new program of mandatory help in a team in order to complete of all the team members.
Workload of a leader gets reduces when it delegates its work among all its users as the ultimate aim of the business owner is to accomplish the desired market aims and targets within a given span of time as delivering quality oriented services to its clients located in the external business environment.
There are various factors needs to be considered by an enterprise owner while taken into considerations in order to improve its current business performance in relation to various parameters considered by an entity owner are given as below:
Analysis of the present condition of a business is required as this would help an individual n understanding the future needs and expectations. Current role of Wendy as business development manager is difficult as it is full of challenges which require business strength in order to appoint the suitable candidates in order to handle tough business conditions. Existing business condition can be managed by an enterprise owner in recognizing the financial as well as non-financial performance that will be regulated by an entity over a stipulated time. Resources are properly allocated by business manager by delegating daily routine responsibilities among its personnel.
Our intention is to help numerous students worldwide through effective and accurate work.
Initial team meeting conducted by a leader in order to recognizes the strengths or weaknesses of all the team members as this wold be helpful for them in order to regulate their existing business performance. Training will be provided to all the team members who are lacking in some skills.
Creative skills of an employee are required in order to enhance the overall quality of all the services offered by an entity to its employees. Talent recognition programs will be launched in a team in which extra curriculum activities are conducted at workplace as in this particular manner stress will be managed of all the team members.
The role of business development manager is to seek for both internal and external competition in the organization as my duty is to protect the interest of my business. Wendy need to analyze the current competition impact on its business and current designation that can be both positive or negative and promoting positive effect will help them in order to achieve all its desired targets. Trends and patterns of the industry will be identified by the management as this will help in appointing the best suitable team members in improving the existing market conditions along with generating higher returns from the business.
Research activities will be increases in a team as one day all team members given a certain topic on which they have research thoroughly and showcase their results in front of all the people. This will enhance their knowledge when they do research and also their fear of speaking in public gets reduces.
Team diversity need to be treated by leader as important aspects that helps in relieving the stress of business in order to enhance the existing quality of team members and their skills and the capabilities that needs to be evaluated by them in order to develop desired aims and targets of a business concern. Varied background employees in a team increase the value of a team. Goals and objectives will get completed in team easily as team members will work collaboratively with a common interest of achieving all aims and targets.
It can be summarized from the report that building of a team gets easy with the consideration of various internal as well as external factors in improving the current business conditions. Innovation is taken as his basic factor to be used in building of a team and also in enhancing the existing team.
Introduction Every individual posses some good qualities and few loopholes. Through a personality development plan the professional is able to set his/her own goals, strategies and learning process for overall development. It identifies goals and develops individual skills, records and monitors...ReadMore12 Pages 3009 Words 9860 Downloads
INTRODUCTION Proper planning helps in carrying out the work schedule and thus it helps in achieving team objectives so that desired goals could be attained. However, devising a work group plan that helps in involving setting objectives and targets for the team. Thus, it helps in incorporating the...ReadMore17 Pages 4132 Words 17459 Downloads
Introduction to Leadership and Management Leadership and management are virtually overlapping concepts. However, they are not the same thing, but are used interchangeably. Although their work patterns are moreover same, but still they have certain difference and importance. The research...ReadMore11 Pages 2650 Words 26027 Downloads
Introduction to Enterprise Leadership In the globalisation, to become an efficient company it becomes important to lead the employees towards the success of the organization. Further, enterprise leadership is determined as the latest method for managing the employees in a proper manner (George and...ReadMore6 Pages 1449 Words 14501 Downloads
Introduction to Leadership and Change Management In the present era there are many types of changes which organization have to adopt in order to make their business more successful. There are many types of problems which are faced by the company in order to make implementation of their changes....ReadMore8 Pages 2014 Words 54927 Downloads
25% OFF + Free Turnitin ReportImprove Your Grade !Avail the Best Custom Assignment & Essay
Get all these features for