Failure Analysis/Change Strategy
Part 1
It is the undoubted truth that the success of a business depends on how the business focuses on objectives, mission, and vision. This focus entails operating in line with set objectives as well as vision and mission. Using Border Books and PayPal as examples, this paper analyzes organizational objectives, vision and mission differences that make organizations to fail of succeeding. The objectives of Border Books and Music are to attract book buyers especially during the holiday seasons and to have a marketing presence in all areas where border book has stores.
Moreover, Border Books' vision is to create richer and more pleasing lives through the dissemination of knowledge and entertainment. The mission of Border Books remains as to provide books and movies that make individuals unique and original. Border Books represents a company that fails in the realization of its objectives. On the other hand, the objectives of PayPal are to facilitate quick transfer of money from one destination to another using the online platform and to communicate with clients to promote their new services. Notably, PayPal's vision is to connect senders and receivers of money all over the world on the online platform. Moreover, the mission of PayPal is to enhance connection and forwardness.The major cause of business failure is the lack of clear objectives, vision, and mission. In the event that a business lacks clear objectives, then the employees seem confused about the activities they need to perform to enhance the success of that business organization. Moreover, poor communication from executives to the workers is a key factor for business failure. For instance, the existence of poor communication channels within an organization means that workers may not receive updates on what to do in time and thereby leading to time wastage. According to Paul (2013), incompetent managers fail to set clear objectives for the business leading to failure.
Part 2
The advertising efforts to attract potential buyers during the holiday season seem costly to Border Book and music. This is because, during holidays, people may not have the interest in reading books and watching movies but rather they concentrate on having time with friends and family. Therefore, the CEO who minds about business failure would discourage the costly advertisement during the holiday.
Moreover, the sale of movies and books to vacationers majority of who are beach goers needs more funding as it helps to reach a wider market without much advertising costs. The company CEO considers the construction of tents to house book and movie sellers along the beach and thereby cut on advertising costs. Therefore, I would focus on cost reduction as a method of ensuring efficiency to avoid failure of border books. Looking at border books' infrastructure, it is clear that the inventory system was successful for a period before the 1990's when the industry went digital. Moreover, border books could earn high revenues through the sale of music in CDs and …
