It is rather important for company managers to develop a list of pressing matters, also known as a “worry list”, without any delay. A manager has to define matters which require immediate resolving as with time these issues will become more urgent. Therefore, dealing with them will interrupt other problems that also need to be solved. In addition, the last by-turn gets the status of urgent. Such complications are harmful for business (Harvard Business School Press). For example, you get notice from the store that they will stop providing the services of storage. This issue is an urgent one; if not to solve it, the manager can face the problem of lack of space for storing goods. Thus, he must switch from the current business to the most urgent problem; meanwhile, the current problems get urgent, and will require immediate solving. Therefore, all this presents the problem to the manager. The issues of first priority are those which are urgent right now. After solving those issues the manager can proceed to the issues which are less urgent. At first, the manager has to develop the list of urgent business and then proceed to choosing the strategy.
Being a retailer of footwear, it is important to have major brands available in store. In the situation when the contractor would soon begin selling online, following reaction can be observed.
- Extending the range of the services (e.g. establishment of the repair shop, prolonging the warranty term, establishing the service of the door-to-door delivery).
- Creation of a flexible discount system.
- Reducing the prices of footwear (by decreasing the payment for the storage of the goods).
- Advertisement is an indispensable part of the business; thus, the manager has to invest money in a good and effective advertising program (Harvard Business School Press).
These actions should be fulfilled in order to be a strong competitor to the company which supplies the goods. The appearance of the Internet-shop is the main threat of the manager’s business, because the managers of the contractor’s company (New Balance) will try to entice the customers to their shop. As a result, the retailer will lose consumers. However, it is important not to lose the relationships with New Balance. Moreover, at the same time, the manager has to find most gainful substitution for the former contractor. All the actions mentioned above assure good development of the business and present excellent preventive methods.