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Deep Roots Distillery

By: 8r94hc  •  November 12, 2018  •  Research Paper  •  435 Words (2 Pages)  •  26 Views

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Management functions include setting and measuring goals for a company, determining which elements are key to a particular situation, and leading/motivating the company to meet those goals. This paper will focus on setting goals for your chosen company and measuring those goals.

The first goal I would set for DRD is to establish a new way to both market and sell their products. They can do this by establishing an online presence through both social media and internet sales. This would give them the opportunity to ship their products worldwide and also give their customers a way to purchase their products easier during the off season. Prince Edward is a tourist town, so they can take advantage of the peak season to market and advertise their online ordering system. By establishing a stronger online presence through social media accounts, DRD can meet a whole new target audience of consumers that may not have been previously reached by their current methods. E-commerce is ever growing, so taking advantage of this is vital.

If DRD wants to achieve this goal, it would be helpful for them to hire someone who is solely dedicated to updating their website and establishing their social media platform. Mike Beamish can delegate this task to someone who has excellent communication, technical skills, as well as a vast knowledge of social media and internet marketing. Pride, Hughes, and Kapoor (2016) discuss the importance of communication and technical skills that managers need to have in order to succeed.  

The second goal I would set for the company is to generate profit in order to pay a salary to at least one person. In order to accomplish this, they need to generate more sales which in return will create more profit. The Beamish can create different flavors that can be sold at the farmers market during the peak seasons. They can also make smaller bottlers available for purchase during the holidays as a gift. I would suggest creating different flavors of the smaller bottles that can be used for gift baskets. If the company can sell it’s own products and avoid mark ups at the PEILLC, that would increase profit. DRD sold products to PEILLC at $8.37 per bottle which retailed at $20.00 per 350.ml bottle. If the Beamish managed to sell more on their own, the profit would be much larger; they sell their product at $12.24 per bottle.

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