Assignment:
Respond to below in 150 words, ensure you use atleast 1 reference
As District Manager & Controller of Accounts
1. During Valentine's week, I would put complementing products for a date night on sale such as alcoholic beverages, movie packs and stuff toys. Offering promotion where consumers can get a certain amount of discount with purchase of flowers and chocolates. By doing so, increase on sales will not the be just on flowers and chocolates during Valentine's week but the complementary products as well, thus increasing revenue. It can also influence customers to buy flowers and chocolates to get a discounted price on the other items. How often have customers bought products mainly because it was on sale?
2. In contributing to profit maximization, many companies may approach it by expanding income alone. However, controlling cost is another way to achieve profit maximization. As a Controller of Accounts, I will work out on the possible alternative of sourcing the inputs at low cost, prioritizing based on the cost, quality and operation efficiency. Below are some illustrations on how our division can control cost:
-Track and review expenses on a regular basis. Small, daily costs taken for granted and left unchecked can accumulate to huge annual expenditures.
-Compare vendors and get bids on everything, this can persuade them to offer a better price than their competitors.
-Lower utility cost by going green and investing in renewable energy sources. Changing habit for the good such as turning off the lights whenever it is not being used, use laptops instead of desktops, and unplug devices at night.
-Switching to Just in Time inventory if feasible to lower cost on storing them
-Hire interns and independent contractors, if willing to do some training, hardworking intern students are available for low-cost pay and temporary employees are more flexible and no added cost of benefits.
-Spread the word about the business in social media for marketing, when done right it can bring many customers with little to no cost to the firm.
Reference:
Scuderi, R. (2012, June 19). 10 Simple Ways to Cut Business Costs.