FastTrack Company has been developing in financial structure and management over the last few years. Wealth creation and productivity have been on a steady rise over the years which are good indications of the efficiency and effectiveness in the management of organizational affairs of the company.
Progress of the company
The total assets for the company has over the years increased to $38,884 from as low as $2,200 from the previous years. In addition, the total liabilities and other components of the balance sheet have also registered a tremendous increase over the years. It is imperative to note that the company’s liquidity has been steady over the years as the total equity within the organization has been on the rise every year (Broom & Longenecker, 2015). It is also prudent to note that the management have ensured steady productivity in the company and is determined to ensure that this trend continues in future.
Understanding the business environment is essential for the growth of any organization. SWOT analysis is one of the commonly used analysis tool that helps management to make vital decisions within organizations (Longenecker, 2012).
The future of the company
The future of the company will depend on the strategic approach adopted by the management. It is prudent to note that the management must be proactive to ensure that the company makes no more losses to ensure sustainability. The pricing and productivity strategies within the organization must ensure that the company is not making losses. In addition, the strategic positioning of the company must ensure that the firm has a reasonable market share in the industry so as to remain competitive. Although the firm’s liquidity is healthy, it will be prudent going to the future to reconsider the company’s borrowing habits. Finally, the company must also ensure intensive promotion and advertisement of its products to enhance customer awareness on existence of its products (Broom & Longenecker, 2015). This together with improved accessibility will lead to increased sales and overall profitability of the company.
Ethical and legal challenges
Ethical and legal considerations are also essential for improved company performance. From the analysis, it is clear that the company has suffered huge losses resulting from ethical issues. For instance, the rate of staff turnover in the organization has been on the rise and it is prudent to act on the rise. It is essential that the company’s HR department acts within the stipulated labor laws to avoid labor disputes. It is also prudent for the management to conduct workshops and seminars to ensure smooth interactions between the employees and the management.
The company may opt to venture in the global market resulting from opportunities arising from market expansion. Nevertheless, the expansion must be conversant with international labor laws, taxes and other legal considerations. This will ensure that the firm acts within legal provisions and save the company unnecessary legal costs. In essence, the market expansion should lead to increased profits rather than doing more harm to the company (Longenecker, 2012).
In conclusion, completing the capstone has been a wonderful experience that will have significant impact in the overall performance of FastTrack Company. The process has enabled identification of the current business position and strategy for its future growth. For instance, the process has enabled identification of ethical and legal issues that would be detrimental to the company’s growth if not fully addressed.
Broom, H., & Longenecker, J. (2015). Small business management. Cincinnati: South-Western Pub. Co.
Longenecker, J. (2012). Small business management. Mason, OH: South-Western Cengage Learning.
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