Cango Week 1 and 2 Analysis

In: Business and Management

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Based on the first two week of observation, Innovative Financial Management & Consulting Services (IFM) has noted the following issues and our recommendation for your review.
ISSUE #1: No Mission Statement or Company Vision
RECOMMENDATION: It is the recommendation of IFM that a formal mission statement and company vision be defined. A mission statement defines why the organization exists and what it does, and is also a way of ensuring that everyone in the organization is on the same page. A mission statement also serves as a base line for effective business planning. A vision statement focuses on the organization's future; it can also robustly communicate the company’s purposes and inspire your team or organization. IFM consultants will meet with the Board of Directors to help define the company’s mission statement and vision.
ISSUE #2: No Strategic Plan
RECOMMENDATION: Once the CanGo mission and vision have been finalized and approved by the board, IFM consultants will develop a strategic plan through the following process:
• Conduct a SWOT analysis
• Review SWOT analysis and outline CanGo’s strengths, weaknesses, opportunities and threats
• Define objectives, key strategies and short and long term goals
• Define operational plan
Once the strategic plan has been fully developed and approved by the CanGo Board of Directors, IFM will present the plan to leadership and ensure it is fully communicated to all employees.
ISSUE #3: Poor Communication
RECOMMENDATION: There is a lack of communication and organization between CanGo’s management and employees. It is IFM’s recommendation to create a communication procedure similar to that of a project communication plan but structured to meet the need of the organization. This communication plan will address the following questions:
• What information, questions…...

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