Transcript team-a-advantage-plus-consulting-final-report (1)

Running head: CanGo Final Report
CanGo Final Report
Advantage Plus Consulting Services
Prepared for:
Professor David Mozinski
Prepared by:
Tonya Blevins
Sydney Coleman
Brent Currie
Glen Ferry
Tina Foster
DeVry University
BUSN 460 Senior Project
October 23, 2013
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TABLE OF CONTENTS
1. EXECUTIVE SUMMARY ......................................................................................................3
2. SWOT ANALYSIS ...................................................................................................................4
3. MARKET ANALYSIS .............................................................................................................6
4. COMPETITIVE ANALYSIS ..................................................................................................7
5. FINANCIAL ANALYSIS .......................................................................................................10
6. STRATEGIC PLANNING .....................................................................................................11
7. CONCLUSION .......................................................................................................................17
8. REFERENCES ........................................................................................................................19
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CANGO FINAL REPORT
ADVANTAGE PLUS CONSULTING SERVICES
1.0 EXECUTIVE SUMMARY
Elizabeth Bennett, who sought to break into the lucrative and booming world of
ecommerce, founded CanGo in 2006. Over the proceeding years CanGo would establish itself as
a regional online success story, providing customers with the opportunity to purchase books,
music, videos and games in an online environment. As the country became consumed by an
economic crisis, CanGo somehow managed to sustain its success by providing customers with
affordable options for entertainment. In this way, CanGo was able to capture a mass market of a
variety of segmented consumers.
Despite CanGo’s initial success, however, the organization is not without its fair share of
concerns. The primary issue with CanGo is that it lacks a formal strategic business plan. The
company has also failed to clearly define what its short-term goals and long-term goals are and
how it plans to go about realizing those goals. The company also has problems with its current
organizational structure. Although roles are clearly defined, CanGo often succumbs to a
centralized form of decision-making, with Elizabeth Bennett micromanaging to such a degree
that the decision-making process almost becomes paralyzed. Poor communication has also
proven to be an issue at CanGo, resulting in staff members unclear in terms of goals and
deadlines to be met for projects. In short, CanGo is operating neither effectively nor efficiently.
As the online entertainment industry continues to expand at a remarkable rate, with new
consumers seemingly emerging from out of nowhere on a daily basis, CanGo finds itself in a
very tough position. The company also has to contend with a healthy online pirating market,
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where customers are offered the opportunity to illegally download the very same products
offered by CanGo. Ultimately, if CanGo is to survive these threats, the company will need to
adopt and develop a professional and aggressive business strategy while implementing a wideranging series of reforms.
2.0 SWOT ANALYSIS
Strengths:
-CanGo has entrenched itself in the online entertainment industry. As companies like Amazon
have shown, the online entertainment industry is an extremely profitable sector with a
high potential for growth and success. CanGo’s customers, meanwhile, are drawn from
an unlimited base of individuals looking to purchase books, music, and videos.
-CanGo is a cost-efficient organization, as it operates exclusively online. There are no physical
(brick and mortar) structures.
-CanGo’s management team and staff members feature individuals that pride themselves on
creativity, innovation, and hard work.
Weaknesses:
-CanGo struggles with a highly centralized form of decision-making. Every plan or idea needs to
be approved by Elizabeth Bennett (CEO/Founder), thus impeding progress and slowing
down the decision-making process.
-CanGo does not have a strategic business plan. This plan would allow CanGo to identify a set of
short-term and long-term goals while also indicating plans of action and deadlines to
complete these goals. Developing a strategic business plan is the responsibility of the
CEO.
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-CanGo struggles with communicating the ideas of the senior management team to the staff
members. Staff members are often left in the lurch, unclear of deadlines and unsure of the
prioritization of tasks.
Opportunities:
-CanGo is taking steps towards expanding into the online gaming market. If CanGo can figure
out a way to set up its games on a social networking platform, it will have instant access
to an enormous untapped consumer base, allowing CanGo to market is products to brand
new consumers.
-CanGo’s role as a provider of entertainment options enables potential customers from all over
the world to view and purchase CanGo’s products. This gives CanGo both a domestic
and international consumer base.
Threats:
-The online entertainment industry features a variety of different competitors, with new start-up
firms appearing overnight.
_CanGo faces threats from online pirating and torrent sites, which allow customers to
illegally download products similar to or identical to the merchandise offered by
CanGo.
-As CanGo flirts with expansion, staff members are being asked to juggle multiple
assignments simultaneously. This has resulted in staff members feeling overworked and
(without financial incentives) undervalued.
-The lack of a strategic business plan will result in CanGo having difficulty in defining both
short-term goals and long-term goals.
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3.0 MARKET ANALYSIS
Over the past decade the Internet has radically transformed how we, as a society, share
information, communicate with one another, entertain ourselves, and shop. According to a 2013
research publication commissioned by Cushman & Wakefield, the online retail/ecommerce
market (of which CanGo is a part) has grown at an average rate of over 18% over the past three
years (2009-2012) throughout the globe. Traditional retail sales, meanwhile, grew at only 1.3%
over that same period of time. The market share for online retail sales is particularly high in the
United States (ranking second amongst developed nations behind the United Kingdom in terms
of online retail sales), which recorded $186,942,000 in Internet retail sales in 2012. In addition,
this figure accounted for 6.53% of total retail sales dollars recorded in the United States at the
time. The average online consumers, meanwhile, are individuals with higher levels of education
and steady sources of personal income. The booming online retail market has been aided in no
small part by the soaring numbers of Internet users and mobile device users in the United States.
According to the same Cushman & Wakefield research publication, 57.2% of the population in
the Americas has access to the Internet and 33.6% of that same population has an active mobile
broadband subscription (Best, Hutchins, & Mahmuti, 2013).
The figures corresponding to the online gaming market, meanwhile, are equally encouraging
for CanGo. For instance, according to Transparency Market Research “Gaming Market-Global
Industry Analysis, Size, Growth, Share, and Forecast 2011-2015,” global gaming was worth
$70.5 billion in 2011 and is projected to reach $117.9 billion by 2015. The demographics of
online gaming consumers, meanwhile, reflect a varied spectrum of users, with consumers
ranging in age from as young as five years to as old as forty-five years. In terms of regions, the
Asia Pacific region represents the most rapidly expanding market in the world.
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4.0 COMPETITIVE ANALYSIS
The online entertainment industry continues to be saturated by more and more threatening
competitors by the day. In addition to having to contend with organizational behemoths such as
Amazon, Apple, Barnes And Noble, and Wal-Mart over a share of the book/music/DVD market,
CanGo and its new venture into the online-gaming world face stiff competition from social
network gaming organizations such as Zynga and free online gaming opportunities from sites
like Pogo and Yahoo! Games. This competitive analysis will focus on three of CanGo’s rivals in
the industry: Amazon, Barnes And Noble, and Electronic Arts. While these three companies do
not feature the same product selection as CanGo (which is diversifying its portfolio by delving
into the online gaming market), each company specializes in providing online entertainment
items to its respective customers.
Over the past two decades Amazon has established a foothold as the preeminent provider of
online entertainment in the world. This can be explained by focusing on the company’s policy of
offering a wide-ranging sort of products at affordable prices while shipping to customers in a
reasonable period of time. Amazon has, in effect, made online shopping a comfortable and
convenient process, thus cultivating a loyal customer base in the process. As online shopping
figures are projected to continue rising, Amazon will continue to be a fierce rival of CanGo. And
although traditional book sales have begun a steady decline, Amazon has managed to hedge
against this issue by selling e-books and digital subscriptions to both newspapers and magazines
that can be read on Amazon’s signature e-book tablet device, the Kindle. However, Amazon is
not completely invulnerable. In fact, Amazon faces numerous threats from online retail
companies, digital content/streaming services, and free web services. The combination of these
rivals poses a huge threat to Amazon’s continued success. Amazon may also begin to strain
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under the weight of its own expansion. Amazon may also face issues with penetrating untapped
foreign markets and may struggle to duplicate the success it had with the Kindle when
considering what to do as far as the next innovative device is concerned. These issues may allow
CanGo to establish itself as a provider of content (online games) that Amazon has not given
much consideration too.
Like Amazon, Barnes And Noble will pose huge threats to the sustained success of CanGo,
particularly in the sales of books and e-books. However, whereas Amazon has created an allconsuming online presence, Barnes and Noble’s presence is still tied more closely to its physical
retail outlets than to its online presence. Despite this fact, Barnes And Noble provides
unparalleled access to books and eBooks, offering an extensive collection of genres while
employing individuals with knowledge of these products. Barnes And Noble has also built up its
brand recognition over the years and has also benefited from the current wave of eBooks sales.
Similar to Amazon’s Kindle, Barnes And Noble’s Nook provides a hedge against declining sales
of traditional books. However, like any other retailer Barnes And Noble could be a victim of the
overall economic climate. If the economy is on the rise, consumers will freely spend income on
entertainment items. Likewise, an economic climate in decline will cause consumers to save
income rather than spend it on unnecessary items such as books, CDs, and DVDs. Barnes And
Noble is also threatened with a wide array of competitors, from online companies to other
retailers such as Wal-Mart that provide cheaper alternatives to Barnes And Noble’s wares.
Unlike the Kindle, meanwhile, the Nook has declined in popularity, allowing CanGo to recapture
sales of eBooks (in addition to possibly considering developing an eBook device that would rival
both the Kindle and the Nook).
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Zynga has emerged as the creative developer of such consistently entertaining games as
Farmville and Words with Friends since its foundation in 2007. Zynga has established a
dominant foothold in both the online and mobile gaming market. As the online gaming market
continues to expand at an astonishing rate, we can safely assume that Zynga will continue to
capture a large share of the gaming market while continuing to develop attention-grabbing
games. Online games, meanwhile, provide endlessly enjoyable sources of entertainment in
addition to acting as deterrents against stress. Like Barnes And Noble, though, Zynga could be a
victim of the prevailing economic climate. If the economy shows signs of slowing down, video
games/online games will be seen an as an unnecessary luxury. Online games must also compete
with other sources of entertainment, from television shows and movies to music and social
networking. The online gaming market has also become saturated with new players over the past
several years, such as Yahoo! Games and Pogo. Lack of innovation in terms of new gaming titles
along with potential hosting/provider issues will allow CanGo to level the playing field with
Zynga.
Despite the sheer array of competitors, however, CanGo does possess the opportunity to
position itself well in these markets. The online-gaming market, for instance, offers a wealth of
opportunity for CanGo. Ironically, Zynga, one of CanGo’s fiercest rivals, made this opportunity
possible. In November 2012, for instance, Zynga (the developer of blockbuster games such as
Farmville, Words With Friends, and Chess With Friends) ended a two-year-old agreement that
had given Zynga special privileges on the Facebook platform. This agreement was mutually
beneficial for each party, with Zynga tapping into Facebook’s rapidly expanding user base in the
late 2000s to establish a niche as the most prominent social network gaming producer at the time.
In fact, according to a 2013 article in Forbes Magazine, Zynga earned nearly 90% of its revenue
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over the course of the agreement from games that ran on Facebook’s platform. Likewise,
Facebook benefited from the popularity of these games, with nearly 15% of Facebook’s income
over the life of this agreement coming from Zynga (Geron, 2013). CanGo could learn from this
agreement and look at the opportunity that exists in the form of a potential collaborative
partnership with Facebook. By featuring its games on a social networking platform like
Facebook, CanGo would have access to a customer base that comprises over one billion users
from all over the world. CanGo could market and promote its other products through its games
as well.
5.0 FINANCIAL ANALYSIS
An extensive and detailed analysis of Cango’s financial position compared with the
competition (specifically Amazon) allowed Advantage Plus to properly assess and evaluate
Cango’s liquidity, debt, profitability, and efficiency rations. These ratios, after all, will provide
insight into the true state of CanGo’s financial health. CanGo had an Inventory Turnover Ratio,
for instance, is .28, whereas Amazon currently has an Inventory Turnover Ratio of .11. This
indicates that CanGo manages its inventory well. A high ratio, after all, indicates an efficient
performance whereas a lower ratio indicates overstocking. High ratios can also indicate a loss of
sales or returns. CanGo’s Debt to Equity Ratio, meanwhile, stands at .67 with Amazon recording
a ratio of .44. In this case, CanGo is not performing well. A high Debt to Equity Ratio generally
means that a company has been aggressive in financing its growth with debt. Debt can come in
the form of stocks, bonds, and loans that the company borrowed against. CanGo’s Current Ratio
is 5.38. Amazon’s Current Ratio is 1.33. CanGo is performing well in this area compared with its
primary competitor, as this ratio shows that CanGo is more than capable of repaying its debits
and liabilities. The higher the current ratio, the more capable the company is of paying its
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obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations
if they came due at that point. A ratio under, however, 1 does not necessarily mean a company
will go bankrupt. Finally, CanGo recorded a Net Profit Margin of .8 (80%), whereas Amazon
recorded a Net Profit Margin of .2 (20%). This means that 80% of CanGo’s dollars made per sale
is counted as a profit to the company. CanGo should keep in mind, however, that net margins
often vary from company to company and certain ranges can be expected from industry to
industry, as similar business constraints exist in each distinctive industry. Ultimately, CanGo’s
financial analysis indicates that CanGo performs well in certain areas (turning over inventory at a
healthy rate, proving capable of repaying its debts) while underperforming in other areas
(financing itself at too quick of a pace).
6.0 STRATEGIC PLANNING RECOMMENDATIONS
Up to this point, CanGo has managed to excel and establish a foothold in the online
entertainment industry. In fact, CanGo has recently been recognized by the Hudson Valley
Professional Business Association, affirming the fact that CanGo is a company on the rise
rather than a small, independent start-up with no expectations. Unfortunately, CanGo has
not embraced the concept of strategic planning, which lays out and determines the
direction a company plans to take over the next several years. According to John E. Lawlor
of Practical Decisions, strategic planning is important from both a macro perspective and a
micro perspective. On a macro level, for instance, business (especially ecommerce) is
conducted in the global marketplace. Aided by the Internet and rapid improvements in
technology, more and more individuals from all over the world have access to the products
and services provided by today’s businesses. From a micro point of view, meanwhile,
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strategic planning will inject a needed sense of purpose and direction to CanGo. With
strategic planning, each individual in the organization –from the CEO to the most recent
new staff member – will know what products you sell or services you provide, who your
target customers are, and how you plan to compete for their attention (Lawlor, 2005).
Strategic planning would also clearly define a set of realistic short-term and long-term
goals for the company while communicating those goals clearly to each individual member
of the company. Prior to embracing strategic planning, however, CanGo should develop a
Mission Statement and a Vision Statement. This Mission Statement should focus on the
purpose of CanGo as a company and what it aims to accomplish. The Vision Statement,
meanwhile, will describe what CanGo plans to achieve over the medium-term and longterm of its existence. CanGo should next look into developing an extensive and detailed
SWOT (Strengths/Weaknesses/Opportunities/Threats) Analysis of the company. This
would require wide-ranging research into CanGo and its operations as well as into CanGo’s
competitors and the online entertainment industry itself. This information would
ultimately allow CanGo to develop a proper business plan that would suit the needs of the
company. Ultimately, these strategic planning steps would provide a foundation on which
CanGo could thrive in both its short-term projects and its long-term goals. Strategic
planning would also result in better and more informed decision-making, a higher
customer retention rate, continued growth, a competitive advantage (or doing things better
than Cango’s rivals), and market or brand recognition in the online entertainment industry.
Without embracing the concept of strategic planning, however, CanGo will continue to
function haphazardly.
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Advantage Plus has also noticed several issues surrounding CanGo’s current
organizational structure. The current setup is quite hierarchical in design, with several
different layers of personnel comprising the company. The bottom layer of the company
consists of four staff members (Debbie, Whitney, Nick, and Gail). These four individuals
report to five different managers. These managers include Clark (Director of Finance),
Maria (Director of Human Resources), Warren (Director of Operations), Ethel (Director of
Accounting), and Andrew (Director of Marketing.) At the top of the hierarchical structure is
Elizabeth Bennet (CEO/Founder of CanGo). Rather than continuing to operate in its
hierarchical structure, CanGo should seriously consider embracing the matrix management
structure. This system would group people together based on similar skill-sets to work on
various projects and assignments. According to Kevan Hall of Global Integration (a business
consultancy group), a matrix organizational structure would group workers together based
upon their skill-sets. Employees, for instance, would no longer need to juggle a variety of
tasks. Rather, employees would narrow their focus to the task in which they have displayed
the most knowledge. This would place employees in positions where they could excel,
bringing their personal expertise and experience to projects and assignments (Hall, 2008).
Matrix organizational structures would also improve flexibility within CanGo, allowing
resources to travel fluidly from one functional project to another. If this matrix
environment is balanced (which it should be), one project manager would oversee a group
of functional managers (each of whom would be leading the project groups). This structure
would be a significant improvement over the current setup, in which the Directors of
Finance, Human Resources, Operations, Accounting, and Marketing depend upon the same
core of staff members to execute their respective ideas. In the matrix management
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structure, the directors of the different departments could communicate and collaborate
with one another in order to provide the staff members with the necessary information to
successfully complete projects. A matrix management structure, meanwhile, would result
in a faster and more decentralized decision-making process, increase coordination and
communication throughout the business, and improve the way people work together while
breaking down traditional barriers to cooperation. Ultimately, a less confusing and more
cohesive workplace structure would improve CanGo’s effectiveness and efficiency in both
the short-term and the long-term.
Advantage Plus has also noticed several issues concerning CanGo’s management
over the past eight weeks. CanGo’s managers (or directors) often fail to prioritize tasks or
projects according to importance or urgency. These same managers also fail to include staff
members in the decision-making and planning processes for upcoming projects. While the
management team at CanGo is comprised of a group of talented, educated, and hardworking individuals, the decision-making process is scattered and the lack of project
prioritization is troubling. In fact, poor decision-making has resulted in projects being
approved without proper consideration and research, leading to staff members juggling
more projects than they can handle at the moment. Additionally, staff members are given
little to no information regarding benchmarks, deadlines, and goals when assigned
projects. This has resulted in missed deadlines, misguided spending, and declining
employee morale. There are, however, solutions to these problems. Management simply
needs to make more of an effort in prioritizing projects and tasks according to CanGo’s
objectives. This would allow management to keep projects on a timely schedule while
securing the necessary resources for these projects. CanGo should also consider taking the
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time to train both managers and staff members in Project Management software, such as
Microsoft Project. This software would allow managers and staff members to stay on
schedule with projects, schedule staff members for upcoming tasks, and provide visual
representation of a project’s progress (in the form of a Gantt Chart). CanGo’s staff members
should also be included in the decision-making process in the future. After all, if the
employees are going to be working on these projects, they should have the opportunity to
provide input and perspective into the decision-making process. An inclusive decisionmaking process would also allow managers to identify individual characteristics of the staff
members that could potentially provide value to aspects of both future projects and the
day-to-day operations of the company. Debbie, for instance, has a background in education
and has shown great willingness on he part to mentor and provide guidance to other staff
members. Perhaps her skill-set could be put to better use in training potential new
employees in the future. CanGo also needs to address several glaring issues with the
current performance appraisal/evaluation system. These problems have already been
discussed at length in our individual analysis reports. Needless to say, allowing
underperforming staff members to receive good (or even exceptional) evaluations simply
to maintain personal relationships is ridiculous. A serious organization cannot base
employee performance reviews on the subjective, qualitative tendencies of a manager.
Rather, performance appraisals should be based solely on objective, observable, and
quantitative measures. This would inject fairness into the process, eliminating both
leniency errors and halo errors without risking alienating hard working, deserving staff
members in the process. Managers should also provide concrete and constructive feedback
to employee during performance reviews, identifying specific areas in which employees
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need to show improvement in order to allow employees to improve their performances.
This feedback should come with a set of realistic goals and deadlines set by both the
manager and the employee. CanGo could even consider implementing a results-oriented
approach to the performance appraisal process. According to a study released by the
International Journal of Scholarly Academic Intellectual Diversity, a results-oriented
approach would place the primary focus on what the employee is supposed to accomplish
on the job rather than taking into consideration the employee’s individual personal
characteristics/behaviors (Lunenburg, 2012). Perhaps CanGo could base its resultsoriented approach upon goals/benchmarks. For example, the manager and employee (in
this case Warren and Nick) could meet with each other weeks before the performance
review and discuss and decide upon a set of goals that the employee would need to reach.
The follow-up meeting (or performance review) would evaluate the employee’s
performance based upon the previously agreed upon and established goals. Ultimately,
such a system would dramatically improve the performance of both CanGo’s management
team and staff.
The employees of CanGo (with the occasional exception of Nick) are hard working
individuals that place great pride in their work. Unfortunately, several poor decisions on
management’s part have seriously affected these staff members. In our observations, we
have noticed staff members being handed projects and assignments from managers
without receiving anything in the form of goals, deadlines, expectations, and resources.
This has resulted in employees juggling a variety of different assignments simultaneously.
The current performance appraisal system has also left some employees (Nick) scared to
death of the process. Other employees displayed incredulousness after Nick received a
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solid performance review from Warren. Performance appraisals should be designed to
provide employees with a means to set and realize individual goals. Ultimately, the poor
decision-making process that allows projects to be dumped unceremoniously on
employees without warning along with the antiquated and ineffective performance
appraisal system seriously risks a potential decline in employee morale and an increase in
stress amongst the employees. In order to combat the threat of declining employee morale,
CanGo’s staff members should be invited to take part in training seminars by CanGo’s
management team in order to learn valuable skills that are relevant to the business world,
such as time-management, multi-tasking, and organization. This would demonstrate to the
employees that CanGo’s management team values their roles and wants to take the time to
further enrich them. CanGo should also consider hosting outside work events on a monthly
basis that would allow the team to unwind and bond, thus hopefully increasing trust and
camaraderie amongst the group. These gestures could have a profound and lasting impact
on the relationship between the management team and the staff at CanGo.
7.0 CONCLUSION
Over the past eight week Advantage Plus has been struck by the seemingly unlimited
potential for growth and success that CanGo has within its grasp. Unfortunately, this company
will not be able to realize this potential if it does not dramatically revamp CanGo cannot
continue to conduct itself as a small, energetic start-up firm. With increased attention and
recognition come increased responsibilities to its customers, to its creditors, and to any potential
investors. CanGo must embrace the concept of strategic planning, as doing so would allow
CanGo to identify who it is as a company, who its target market is, and how it plans to build a
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competitive advantage over rivals in the industry such as Amazon, Barnes And Noble, and
Electronic Arts. Next, CanGo must change its organizational structure, switching from a
hierarchical and centralized structure to a looser, more flexible matrix management structure.
This would increase efficiency and communication within the company and would allow
individual staff members to excel in projects by grouping skill-sets together. CanGo also needs
to update its horribly flawed and antiquated performance appraisal system. The current system is
based solely on subjective measures of employee performance, rather than on objective and
observable measures of employee performance. Hard performance criteria are neglected in favor
of casual observations and impressions. Meanwhile, poor employees are not even given a chance
to receive feedback, as the current system is plagued with leniency errors, resulting in poor
performers like Nick left unable to identify areas in which he sorely needs to improve.
Fortunately, the senior management team at CanGo has appeared to recognize the need for a
more objective approach to employee evaluations. If CanGo can somehow correct these issues,
the company will be well positioned to compete with its rivals for a larger share of the online
entertainment retail market.
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8.0 REFERENCES
Best, N., Hutchins, D., & Mahmuti, M. (2013.) Global Perspective on Retail: Online Retailing.
Cushman & Wakefield. Retrieved from
http://www.cushmanwakefield.com/en/research-and-insight/2013/globalperspectives-on-retail
Geron, T. (2013.) After Zynga Agreement Ends, Facebook Gets Into Mobile Games Publishing.
Forbes Magazine. Retrieved from
http://www.forbes.com/sites/tomiogeron/2013/07/30/after-zynga-agreement-ends-facebookgets-into-mobile-games-publishing/
Hall, K. (2008.) Advantages of Matrix Organization Structures. Global Integration.
Retrieved from
http://www.global-integration.com/blog/matrix-organization-structure-advantages/
Lawlor, J.E. (2005.) The Importance of Strategic Planning. Practical Decisions.
Retrieved from
http://www.practicaldecisions.com/strategic-planning.pdf.
Lunenburg, F.C. (2012.) Performance Appraisal: Methods and Rating Errors. International
Journal of Scholarly Academic Intellectual Diversity. Retrieved from
http://www.nationalforum.com/Electronic%20Journal%20Volumes/Lunenburg,%20F
red%20C.%20Performance%20AppraisalMethods%20And%20Rating%20Errors%20IJSAID%20V14%20N1%202012.pdf
Transparency Market Research. (2012.) Gaming Market – Global Industry Analysis, Size,
Growth, Share, and Forecast 2011-2015. Retrieved from
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http://www.transparencymarketresearch.com/global-gaming-market.html