Identify an up and coming or a new business, identify the strengths Research Paper

Identify an up and coming or a new business, identify the strengths and weaknesses or challenges, and your forecast of the company's success - Research Paper Example The business will gain from a corporation since all profits, losses and taxes are presented to the federal administration, and all the personnel as well as the owners file their individual income duties. The corporation can attract more financiers to the enterprise for development, and therefore, all losses, liabilities, and profits can be shared. Furthermore, lenders and vendors will award more prospects to a corporation. One of the limitations of the company is the double taxation since the owner has to pay taxes for the company as a distinct entity and the stockholders must file for the taxes too. This may prove tasking since the company has just been established and it is still trying to find its ground (Internal Revenue Services, par 3). Another challenge facing the company is keeping up with the marketplace since business settings change continually. The company must keep up with the market to meet its customers’ needs. The company can obtain information sources that afford insights on market trends and conditions (Internal Revenue Services, par 8). The other challenge is that the company does not have the right systems to delegate tasks and responsibilities. Financing the right systems such as quality control can improve the company’s productivity and convince clients that the firm can be trusted (Bizoffice par 2). Another challenge is welcoming change. Change can be overwhelming for a new company since change demands adequate resources and time, which the company may not have, and the company might not have the capacity to incorporate change (Internal Revenue Services, par 7). A change like personnel dismissal or changing suppliers can be dangerous for the business. Change demands coaching and developing personnel and being updated about the new technologies, which can be costly for a new company (Bizoffice par 3). The other challenge facing the company is the challenge of

Business Strategy Report (TOSHIBA) Essay Example | Topics and Well Written Essays - 3500 words

Business Strategy Report (TOSHIBA) - Essay Example Toshiba also has additional in-house branches like the Digital Media Network firm, the Digital Products Group, the Infrastructure Systems Group, and the Electronic Devices & Components Group among others. Mission Statement The Toshiba Corporation is dedicated to improving the quality of life of its clients while leading in developing electronic products. By constantly inventing new technological products that cater to the increasing needs of customers, Toshiba not only adds to its consumer group but also ensures that it remains relevant in an increasingly competitive field. Toshiba is also committed to engaging in programmes and experiences that ensure the improvement of society as well as the preservation of the environment. Toshiba has a diversified workforce with members from all over the world. It also has branches in most of the developed nations (Sato 2005). This is actually advantageous because the workers bring with them different capabilities and skills that participate in e nsuring continuous growth. In the Toshiba Corporation, workers from different national backgrounds are encouraged to apply for various positions. At the start of every working year, Toshiba’s CEO, in the forum in which employees are addressed, known as the â€Å"Kirameki Forum†, diversification is actively encouraged (Xue, Ray, and Whinston 2006). Indeed, Toshiba has just recently established the ‘Diversity Development Division’ which functions to promote diversity by actively including measures that are channeled towards further developing the management of the Corporation’s personnel (Yusuf, Altaf, and Nabeshima 2004). Toshiba provides an environment in which each worker is encouraged to realise his or her potential, and even has programmes that make it possible for workers with hearing disabilities to be able to function successfully. The Toshiba Corporation also has various departments that cater for the needs of its workers; for instance, there is a department that specialises in dealing with the problems faced by workers such as harassment. This particular department deals with issues that were suggested by the workers and not the management. It is also responsible for encouraging workers from different backgrounds to form productive relationships within the work place. Strategic Analysis The Toshiba Corporations remarkable performance in the global computer industry gives evidence as to why it is important for a company to be strategically innovative in aggressive markets. In the past two decades, Toshiba was one of the main producers in the computer industry. Moreover, recent trends indicate that the cutting edge new technologies that are being developed on an annual basis are unsettling this domination. Toshiba has to come up with products, on a regular basis, which are inventive in order to maintain its position as one of the best production outfits against the considerable gains in technological advancement which is evident in business rivals such as HP and Dell. Toshiba’s competence and central technologies determines its capacity to bring value to the market. Toshiba’s readiness to research and invent new products shapes its competence in that it allows newly created strategies that deal with handling newly invented processes to control its operative functions. Toshiba’s success is due to its adoption of an aggressive strategised scheme that uses the