Critical Analysis of Indianapolis Business Plan
Introduction:
Indianapolis, the racing capital of the world, did the marketing based on the strategies, after
identifying the target market; the company knows the target market and by hitting the customer’s choice and mind, the company understand the customer and gain advantages. However, there was also some weakness, which was in the marketing plans, the company did the interviews with the customers, and come to know about the people or age segment that were interesting. The company was efficient in making the plans and strategies, based on which they have effectively managed the price or cost for the customer, so that maximum customers, form the different age groups can be attracted. Moreover, in the weaknesses, some points do not notice or look forward.
Marketing Segment Weaknesses:
The company Indianapolis was not getting the good market share, in the industry, as the company has decided the prices so that advantages can be there, and maximum customers come to buy the services. The pricing strategies were not effectively decided, the company struggled and the there were only two tracks, where the racers can enjoy, the company has the primary and the secondary track, the company has the strengths, which can also be viewed as the weaknesses,
The parking situation was the issue for the company, while the competitors can get the advantages; the company has the fewer parking spaces, the customers can be attracted to the place if there can be maximum space, but the CEO of the company do not think about that. To meet the requirements of the customers of city, maximum finance was needed; however, the management thinks that maximum money spends on the projects, may not give the benefits, as there is no need to spend on racing decor or the kart business, kart business may not give as what they expected or spend.
Third weakness can be related to the customers services, the weakness while considering the cart business of the Indianapolis was, there was no snake bar, the people or the customers can be tired of getting nothing, most of the families and children, want to enjoy cart or any other enjoyable activity with the food items. The company was having no place to relax or eat; there was no lobby so that people can spend a time to relax or to get the pleasure. However, either was only on a soft drink that was available in, other than the soft drink; nothing can be remarkable, due to which company faced the tensions.
Operation Segment Weaknesses:
The company has failed in managing the activities in the operation segments, however, of the activities were efficiently performed but the management does not consider all the strategies, in my point of view, there were many mistakes that were done by the company. The functions need to be effectively performed, but the weaknesses of the management were, the company has the building on the installments, the money was given on the monthly and weekly basis, and the business can be suffered. If few of the building are in installments, because maybe sometimes or maybe in some months company does not get the profit, as the company was expecting, so the company may have to suffer losses, because in that case, the company, may not able to manage the finance. Construction and improvement are also included in the operations, the estimated cost of the maintenance and other operation were too much, and the companies have to give the installments.
The great faculty of the business can provide the facilities and the advantages to any business, but in the case of Indianapolis there was the Inadequate staffing was also the weakness of the company, as the company hired the staff of the college, the staff was not experienced, may be the company face issue due to that. However, the company needs the experienced staff that can deal with the clients effectively or successfully, the operations or the entire task that was undertaken by the staff, were inadequate, the planning or the strategies were not effective. The changing shifts and the tasks were given on the daily basis and the tasks shift every day.
The working was divided among the team or employees, in the company, example, turn off the alarm system, opening and closing the doors, clean window, remove the trash etc. The company needs to manage the entire task, the operations need to manage effectively, as the company needs to hire the experienced staff, for the entire tasks. To manage the employees, needed to be effectively managed by the companies, because, if the employees or worker not given the clear
There were the schedule adjustments, within the company was not effective, or the shifts and tasks changes of the individual, which can create the problems, in the event, the company may have to suffer the employee turnover in this case. This was the weakness of the company because the staff was not managed and improper or offensive schedule adjustments were there. Therefore, in a case of events, arrange by the company mismanagements by the staff can occur, because the employees are not trained and company cannot retain them. The proper staff should be there for any company, so the event can be effectively managed, and the customers can be satisfied.
Critical Risk Segments Weaknesses:
The company has to focus on the critical risks segments, related to finance while managing the businesses there could be many issues associated with the critical risks, the company Indianapolis can suffer the issues of the weak economy of the country. In my point of view, it could be the weakness of the company, because in this case company can face the financial losses. If the country is not supported, or the economy is weak, then there are chances of losses of customers, because the customer will not spend on the matters, which are related to such enjoyable factors.
Moreover, the company has to do something when the economy fails, or the people or customers spend less. However, if the company fails to meet the require goals, there can be the issues, there is need to more focus on the areas related to the sales, or economy, so that the customers can be attracted, the general interviews or advertising and the walk-in customers strategies may not be effective in this way.
The weakness related to the construction delayed can also be faced by the company, we gave did analysis that the staff of the company, is not giving the effective results because the company fails to manage the staff, the company has to manage the staff, if the company wants to get safe from the issues related to the construction delayed. Mr. Whisler also believes that the projects should not be delayed and there is need to focus on the projects and more on the employees so that the projects can be effectively done on the prices, the company faced the issue related to the projects.
The financial assessment of the company is not efficient and gave the negative results or the balance, which means that the company fails to manage the projects because the worker are not prepared and they are not the professional. To get safe from the issues related to the finance and projects, there is the need to focus on the staff, the staff should be trained and need to be well prepared to manage the project related activities, the finance need to effectively manage, so that future issues cannot be there.
The company is also focused on the injury to the visitors; that the visitors should not be given harm; there are the weaknesses, in the projects, as the customers are not given the importance or value, as there were the issues with the staff and canteen. The financial issues can also be related to the staff, there is the need to manage the staff effectively. The staff needed to be given the training, they need to be given protection, so all the system could be effectively performed, tin the company, there should be the focus on the staff training, and need to give them the incentives. All the issues were related to the staff management, the company failed to manage the staff.
Conclusion:
While doing the analysis of the company, the issues identified related to the finance, staff and the customers. In the Indianapolis business, there are the issues related to the marketing segment, operation segment, and the critical risk segments, all the issues can be related to the financial segments because the ultimate effects can be on the business financial management or the profit. The business plans are needed to be the focus while managing the business, as in the case of the Indianapolis, the business was strategies were effective but somehow the company fails to manage the staff and finance.
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