Loos Machine & Automation has a few weaknesses and threats to improve or build s
Loos Machine & Automation has a few weaknesses and threats to improve or build s
Loos Machine & Automation has a few weaknesses and threats to improve or build strategies upon. One of their biggest weaknesses is their location. This weakness mostly relates to hiring issues as the rural area the Company is located in isn’t the most appealing to those that weren’t born and raised there. Some strategy ideas that were found on Hiringthing.com would be: Allow employees to work remotely; this would allow for a larger labor pool to select from and employers could attract candidates from outside of their rural region. Offer relocation/sign-on bonus Actively promote the community and introduce them to community members to build relationships Provide incentives to those willing to uproot their families and relocate to the rural town Offer competitive salary and attractive benefits packages to make the move worth their while Their location is also a weakness when it comes to potential sales. Although they provide goods and service to local businesses, the majority of the businesses in their industry are located outside of their geographical area. Some customers award the job to competitors who are closer to them. A few ideas are listed below provided by Forbes.com to help strategize this issue: Update the Company’s website, let the product sell itself and deter the customer from having thoughts of going elsewhere Promote the Company’s combined expertise and years of service Build relationships with similar Companies in locations throughout the geographical locations the Company serves to be able to utilize as sub-contractor’s or service technicians which would decrease downtime for the customer Rely on online ratings Serving nationally and world-wide comes with challenges such as additional taxation requirements and reporting taxes to multiple jurisdictions. The Company should develop internal processes to track their sales by location The Company should consider utilizing third party applications such as Avalara to streamline their sales tax requirements. Programs such as Avalara, which is an automated sales tax program, boasts affordability and can connect to the Company’s ERP for streamlined reporting. Tax automation software’s are also beneficial because they require full compliance from their customers which in turn reduces the risk of sales tax audits (Avalara, n.d.). 5 Tips for Recruiting Big Talent to Small Towns. Hiringthing.com (n.d.) Retrieved on December 2, 2021 from https://www.hiringthing.com/recruiting-big-talent-to-small-towns/ Lesonsky, Rieva. 10 Great Ways to Attract New Customers to your Small Business. Forbes.com (2020, February 8). Retrieved on December 2, 2021 from https://www.forbes.com/sites/allbusiness/2020/02/28/attract-new-customers-small-business-tips/?sh=45a403b44d1a Avalara: Tax Compliance Done Right. Avalara.com (n.d.). Retrieved on December 2, 2021 from https://www.avalara.com/simplify/en/avatax/avalara-brand.html?gclid=Cj0KCQiA-qGNBhD3ARIsAO_o7ynpwyv6pEWucacaainBcu_noDBzOKxTs51ylmc5SNqXfBtHL3TK_AgaAl2PEALw_wcB&CampaignID=7015a000001SagVAAS&utm_source=paid_search&utm_medium=gppc&ef_id=Cj0KCQiA-qGNBhD3ARIsAO_o7ynpwyv6pEWucacaainBcu_noDBzOKxTs51ylmc5SNqXfBtHL3TK_AgaAl2PEALw_wcB:G:s&s_kwcid=AL!5131!3!506618466362!e!!g!!avalara&gclsrc=aw.ds&&lso=Paid%20Digital&lsmr=Paid%20Digital

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