I’m studying and need help with a Business question to help me learn.
It is important for managers to develop plans to meet sales and profitability goals. By comparing periodic sales and productivity data with financial planning goals, they are able to set objectives for each period. By achieving these periodic objectives, managers ensure that the overall financial goals for the business will be met.
- Conduct research on the factors that businesses consider when making decisions about their sales and service strategies. Identify some of the tools used to track, measure, and manage sales and service activities in a retail business other than your own. Try to locate and review the company’s financial plans, sales plans, staffing plans, and service goals to understand how they are used. Forbes, the Wall Street Journal, Harvard Business Review, and Inc. Magazine are good sources for this type of information. Consider how planning and measurement tools facilitate communication with employees to improve performance, which tools are most effective, and why.
- Based on course content and your research, refer to sales and service planning activities as you answer the following questions:
- Trace the development process of periodic sales plans for a business.
- Explain how service goals for businesses are aligned with periodic sales plans.
- Describe how staffing projections are used to support sales and service goals.
- Identify at least one business result that illustrates strength in sales and service, and explain why.
- Identify at least one activity or area of a business that may be causing sales to trend below plan or where low service scores are evident, and explain why.
- Make and defend one recommendation for improving sales and/or service in the activity or area of a business identified in question “e”.
- Compose your answers with a minimum of one paragraph per question (minimum of 6 paragraphs total). Use at least one outside source of research to support your work. Cite your source(s) according to APA guidelines.
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