The scenario involves the case of poor management and the use of ineffective and outdated kind of management system that smith is using in her firm. Matters arising are high concern in the company. This thus contributes to the company to trails behind and realizes little or no profits at the long run because of fraud and mismanagement of the firm in a way that affects the performance of the firm. Smith realizes that her firm needs to update they manner to which activities are taking place hence seeking for advice for the suitable action recommendable for implementation. She therefore had to attend networking meeting to obtain diverse ideologies on the current changing trends in the organization set up (Drucker, 2008).
The current situation of her office is considerably at a wanting state. Its’ location is suitable for easy access to the market share because presence of the retailer would facilitate the firm inventory to reach the target market more easily. Areas that require attention promptly are checking on the outrageous conditions of the office layout. Smith should develop a simplified technique that would assist in doing away with the papers covering the entire office and at the same time, she is advice to inaugurate storage files for the invoice, tax notices, and announcements. This is because at particular point they would be of big importance in when there is need for reference where. Packing slips the advisories for city planning and inventory charts and schedules should have a strategic place for proper management hence avoiding untidiness within the office (Srinivasan, 2003).
She was using old version type of management. This is simply evident on how the company uses a manual cash register alongside with carbon receipt. The company should adopt an electronic support system to fill their cash inflow and outflow and back up the system for purposes of retain the stored information for future reference. Margret management board is not meeting it goals easily because the major their transactions and calculations by doing a direct subtraction from the clipboard. For the company to elevate in its operation to a level standard and create a good reputation in the market share, Margret opts to introduce modern mean of calculating and making their transaction (Drucker, 2008).
Management calls for a comprehensive study on the available resources and emergence of new managerial skills to penetrate the market and outshining their competitors. In general, view java books business did conduct their sales, inventory issues, and receipts manually or by hand and manual preparation of cash register and invoice led to an inaccurate data representation. The process is considerably tiresome, especially while preparing the annual financial statement bearing in mind that it undergoes a manual process. She has to introduce a computerized accounting system for accuracy of the statement and completion on time. This would also help in the decision-making process because the information available would be the exact figure or position of the company (Drucker, 2008).
Drucker, P. F., & Maciariello, J. A. (2008). Management (Rev. ed.). New York, NY: Collins.
Srinivasan, S. (2003). Advance management accounting. New Delhi, India: Response Books, A division of Sage Publications.