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Genaflek Marketing

Satisfactory Essays

Critical Thinking in a Business Decision

How would you describe your company's competitive situation prior to the acquisition?
My company Genaflek Marketing has done really well in years past and would have still been profitable, but I felt we weren’t giving our long term Clients everything possible for their business. We provided a great service but it lacked a major component, social media. With the rapid growth of the social media market our clients were missing out on an opportunity to grow their business though social media. We need to stay ahead of the times and without this merger we would have been starting a path to decreasing success. When you were faced with this situation, what did you see as the most important facts that …show more content…

This was wrong of me and I wish I had realized sooner what we were all missing out on. This could be a lesson to any business owner who has operated the same way for too long. There is always room for growth. What alternative approaches did you consider, and how did you assess the advantages and disadvantages of each?
Outside of assuming we had everything we needed Genaflek Marketing did consider hiring a consultant to help introduce our company to new marketing strategies and analytics. Although this would’ve helped guide us in the right direction I felt it wouldn’t be enough. We did not have enough background in this area for the customers to truly reap the benefits of social media and the opportunities that come of this strategy. How did you present the decision to sell to your board of directors?
The best way for the board to see why this merger would be beneficial was to explain what our customers deserve. Once I explained what our loyal customers were missing out on it was clear to the board that in order to maintain business at the level we have for so many years there needed to be major change. All in all, everyone was excited for the change and Regina welcomed us will open

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