In product market. The company decided that its main

In the 1960’s a small business
company named Timely Technologies, created a startup to provide very specific
electronics parts for space programs in the United States. During this time
period in the United States, it was a need for more advanced electrical and
computer technologies, in which Timely Technologies provided. This company
provided an expertise in computer desk drives, circuit boards, medical
equipment, electronic testing equipment and many other high tech components.

During the expansion phase, this
company grew and exceeded in ways that were remarkable in during this time
period. In order to keep up with constant growth and expansion, the company had
to keep up with the growing supply and demands of their companies. Some of
these things included opening up more production facilitates, technical support
centers and production facilities in which allowed them to keep up with the
current supply and demand of their product. After the initial birth stage of
the company begin to wear off the company begun to find its niche and favorite
product market. The company decided that its main scope of business would be to
supply component disk drives, which are often utilized in personal
computers.  

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During the non-technological phase in
the United States, this custom idea was great, because the generalized society
was just starting to learn and adapt to modern computers in which these desk
drives were the perfect combination. Still a very small and modernized business
organization, Timely Technologies failed to adapt and change is the business
structure which eventually led to its timely despise.  Without constant business change, there is no
way for a business to maintain in this tough competitive market. One company
can stay ahead and have a top product for a limited amount of time, due to the
competitive market a company must know that someone is always out there trying
to outdo and create a product that is better than the one that is on top so
they can finally have the top spot.

Of course, Timely Technologies ran
into economic times, in which ran the company really into the ground. This
company had to make tough decisions in regards to their staff and locations
that ultimately affected the outcome for the company to remodel and upgrade
their services. The company went through mass layoffs of employees, which often
left stress on the remaining employees because of the constant burn out and
limited resources. The company then had some natural occurrences in which
forced them into closing some of their locations, in which eventually cost them
millions of dollars in which they paid with money that they did not have.  Previously the company had experienced twenty
quarters of no net worth, which left them with a negative forfeiture from the
previous years.

Constant reconstruction efforts that
had gone wrong had left the company in a position in which they could not
recover. The company failed to reorganize and revamp their business structures
to stay afloat in the previous years, which led them the negative stance they
were in currently. Not enough money to hire and reorganize the company has
reached a stage of deterioration that can possibly not be recovered from.

Background

With the incorrect people in place, a
business can suffer tremendously from the business decisions that were
previously made from these certain individuals. Timely Technologies has
experienced the positivity of growth and negativity of decline and is looking
for a way to improve their company so they can once stand on top as the number
one tech company in the United States.

After reading and researching I have
come to the conclusion that Timely Technologies had multiple attempts to
improve the scope of their company once they realized that they were falling
into a negative environment. According to research, even prosperous economic
conditions cannot guarantee that a business, new or old, will make out since
business failures occur in good

times as well as in bad” (Surfin & Swinyard, 1956, pg. 40).  Many things can occur that affect the
business environment, but in this particular case, these things affected the
company the most.

1.             
Failure
to understand the technology market and its customers.

2.             
Opening
a business in an industry that is profitable but failure to reevaluate and
reconstruct to maintain competitiveness.

3.             
Failure
to understand all of the products that you are selling fully and failure to
communicate effectively to your consumer market.

4.             
Inadequate
budget and financial planning for the overall company.

5.             
Overdependence
on a single consumer market.

6.             
No
effective strategy.

7.             
 Not knowing when to say no as a company, such
as opening up to many distribution centers or facilities to fast.

8.             
Poor
management of all levels involved.

9.             
Not
enough or no planning involved within the company.

10.          
Too
many reactive attitudes and not enough proactive attitudes until it is too
late.

Problem Statement

As listed multiple times in my paper, you can see that I
firmly believe that this company has had multiple opportunities to correct the
issues they are experiencing now. Timely Technologies failed to reevaluate
their business strategy in which failed to incorporate new policies and
techniques that would work in this day and age. Timely Tech, also went twenty
quarters without experiencing any net income, which would ultimately lead the
company to a negative income value. When the company saw that they were not
bringing in any money they should have created a new plan to either cut
expenses or add expenses in order to improve their quarter. The company did do
a great job at eliminating positions that they could not afford, but they did
not have a good strategy in place to mention any plans they would have to
reincorporate more money into the company by eliminating all of those expenses.

The company failed to create new products for this day an age, the company
failed to adapt to the new wave of computers and technologies. The world no
longer needed disk drives but more laptops, cellphones, and tablets. When the
company had the chance they should have either brought into these markets or
created a new product that could have related and have been sold to support
these new technologies. The firm caught on too late and is now paying for their
bad decisions in the years before.

Analysis

In the
business world today multinational firms, small businesses, nonprofits,
governments, volunteer organizations, self-employed entrepreneurs,
universities, and other organizations rely on information systems for a host of
reasons, and they continue to adapt, expand, and interconnect them to achieve
their strategic objectives. Information systems play critical roles in several
contexts: operations management, customer interactions, decision-making,
collaboration and teamwork, strategic initiatives and competitive advantage,
and individual productivity. Depending on their missions, organizations also
need information systems to manage industry-specific operations. 

Timely
Tech could have improved their faith many times throughout the years, but they
decided to stick things through to see where them just waiting it out could get
them. The company could have:

1.     Hired
consultants that are great in their field of work to give them the expertise
they needed at their time of need.

2.     The
company could have started to hire or retrain the employees they had in-house,
due to the fact that the previous and current employees probably have only
known that system and could have been trained on new and effective working
strategies.

3.     The
company should have never put a database in place that did not work 100% in
sync with their company, due to the fact that the employees had to do extra
work that they did not have time for just to utilize the system the business
put into place.  

4.     Produced
new ideas and products for a different type of product market to see if they
could succeed since they were failing in the one they were in currently.

5.     The CEO
should have offered and provided better direction for the company. Once the
stakeholders saw that the company was not making any money this should have
produced red flags. If I were in charge I would have made the managers and
directors produce me a report at every level to describe the things that are
wrong and how we planned on fixing them in the next year. They would have to
statues with me every 30-60-90 days to see the progression of their particular
area. If we were not seeing any improvements I would eventually have to coach
these managers and directors out of the company.

Recommendations
and Conclusions

It may
be too late for the Timely Technological company to see improvements to their
business, but if they were in a place were they could I would offer them some
advice.

1.     I would
tell the CEO and Stakeholders that they need to create a clear and concise
strategy and plan one in which the entire company can follow at all levels. I
would recommend this because it allows for the company to create a common goal
for everyone involved in the company, and goals often lead to success because
everyone can be hungry for the same thing.

2.     Creating
a culture in which does not support burn out and or one that meets the needs of
its employees, customers, suppliers and the company itself.

3.     Have a
certain uniqueness that sets them above the rest of all the other technology
companies out there.

4.     Have an
outstanding financial budget and strategy so the company can survive even in
hard times. The company should hire the best accountants and financial advisor,
so they can catch potential risk such as having 20 quarters without earning a
dime.

5.     Lastly,
the ability to attract and to retain the top talent in the field. This would
give the company a huge advantage because they would have the top employees
giving and creating ideas that would set the company apart and to keep them
afloat. 

Overall the company had a great
first few years because they were the only company that was providing these
types of services. A company has to evolve constantly in order to stay
competitive and grow in the tough business sector we have today.

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