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THE SOLUTIONS
Appoints other managers to assist in carrying out the responsibilities of the organization.
Case Analysis
The company XYZ: XYZ is in business for few months XYZ bagged an order The problems: No Venture capital Seed Fund available Lack of infrastructure and funds Deadline round the corner. Now as a CEO I need to think of the steps to
Before calling a meeting The various options available (Listed importance wise)
Check own capabilities and capacities
Contact the Client to extend the deadline If allowed (as some fund and infrastructure is available)
Ask to pay some advance Contact suppliers to provide the raw materials and infrastructure material on credit Contact a bank to raise TEMPORARY OD(Over draft) on the LPO (Local purchasing Order)
If not allowed
SRM (Suppliers relationship manager) ISC (Internal Supply Chain Manager) CRM (Customer/client relationship manager) Logistics manager
Main Finance managers Joint CAs Auditors Other managers from finance department
HR Head
Check with suppliers for credit supply of product and infrastructure raw material Support CRM to check for available outsourcing Support the CRM Negotiate with the Outsourcing company
Check the infrastructure, inventory and raw material availability Check the requirement Calculate the time and expenses required for the infrastructure build up Calculate the time & expenses required for product manufacturing Provide inputs of all calculations
Contact the client to extend the deadline Ask to provide advance Co-ordinate with all the departments to come to proper outsourcing (if required) Negotiate with the outsourcing company for minimum charges and fast production
fund requirement:
Check the available fund and requirement of fund Contact the Banks to raise the Temporary OD( over Draft) on the basis of the LPO (purchase order) Explore various other options to raise the fund as per the final decision
Look for new VC Seed funds Tie up with fund providing companies
Contact the client together with CRM for the advance funding
HR department
Request the employees (Mangers and high salaried
workers) to help the company to meet the deadline (existing/ new) by:
Motivating the employers to meet the requirement Special training to raise the performance, if required hire few experts Working overtime
Compensation later on Companys increased strength
If All fails
Outsourcing
Outsource to a company who: Provides temporary & quality production Tie up to share the benefits Tie up to get the proper infrastructure installed
All these approaches will lead the CEO (me) to overcome the issue at hand