assignment what is killing your business

• Business and Management

What Is Killing Our Business?

16 Jun 2022

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Academic level: College

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The world of business is today a more sensitive field that is quite responsive to change, both external and internal. There is no change that takes place in the business world without impacting on performance, especially financial. Negative impact means companies go down financially and even to lose ground as they shut down their shops. Notably, what stands out clearly is that whenever a big brand fails and shuts down, it is always replaced quite fast and people tend to forget about it. However, in the build up to its failure, there are always warning signs and predictions given by business researchers and pundits. Today, researchers have predicted the fall of certain big companies for various reasons. The big brand chosen for this paper is Jamba Juice. In this paper, the argument is that Jamba Juice is going to fall down because of two factors which are seasonality and the stiff competition from fresh versatile brands across the country and internationally. 

Jamba Juice offers smoothie drinks to customers in the United States of America. It sells blended beverages, juices and fruit smoothies. The company has been reporting dip in its profits and overall earnings. While acknowledging the fall in earnings, the company’s executives have always given out a number of reasons including instability in the politics of the nation and dwindling economic times in the industry. Rightly, many executives will always shift blame to external factors in the business environment whenever profits start to decline. The aim of clutching on to the external factors is to claim inability to control the developments. For the case of Jamba Juice, the glaring fact is that its seasonality nature is cause of the impending failure. 

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Seasonal businesses are never lucrative since they have lows and highs. Jamba Juice depends on the summer season for most of its business activities and even earnings. It implies that when the summer season ends, the business of the company goes down significantly including the earnings. The company’s profits stay on a down-trend for the longer period of the other three seasons, which are autumn, spring and winter. It is a dangerous condition for a business, which has employees and suppliers depending on it for a livelihood. 

Jamba Juice has always had to lay-off its staff members during low business times. The trend has not portrayed it well as many employees keep moving out to get secure jobs elsewhere. Workers, today, want to work in a place where they feel the security of tenure. Interruptions in their earnings because of lay-offs often hurt households. Therefore, the situation at Jamba has always meant it has a highly less motivated staff hence the poor performance and impending failure. 

Secondly, the company is now facing stiff competition from other new but giant beverages companies. Competitors like Starbucks and McDonald’s have widened their smoothie products hence lowering the novelty with which Jamba Juice was held in the past. The field of beverages in the United States of America is today ruled by the Coca Cola brand that stays at the top. There is also other giant brands like Pepsi, which has a significant share of the market. In the United States of America, Starbucks is a major company. All these competitors have pulled rigorous campaign and advertising moves, which continue to eclipse Jamba Juice brand. 

Believably, Jamba Juice had the chance of controlling the impact caused by these two factors. The company would have re-engineered its business strategies and engaged in active and rigorous brand popularization campaigns both online and in mainstream media to ensure it adapts to the high competition in the industry. Furthermore, diversification of its offerings would have helped it overcome the limitation of seasonality, which continues to tie its performance down today. 

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10 Ways You're Killing Your Own Business

Agustin Avila on Oct 20, 2015 7:00:00 AM

Multitasking

There's an old saying that when you do a bunch of things, you do none of them well. Multitasking comes from "looking busy," which only works for employees at huge companies. You do not have this luxury, so stick to one task at a time.

Not Producing Enough Value

There are a lot of ways you can produce value. Many businesses go out with the mindset of "getting rid of" what they produce or trying to get money from others. A more successful strategy is to provide so much value to individuals or companies that they come to feel like they need you. When you have that, you will get money -- and they will be happy to pay for what you offer.

Procrastination

Do you have a good idea for improving your business? If you don't, start brainstorming right now. If you do, get to work investigating its logistical consequences and building your implementation plan. Fortune favors the decisive. Are you hunting down higher profits and lower expenses, or are you getting preyed upon by the competition and an ever-changing market?

Too Many Meetings

Are you having a meeting because you want to get new opinions? Is your meeting dedicated to finally closing a major deal? These are great reasons to have meetings, but they don't come around as often as the main reason people hold meetings -- to sate their egos. There is no place for ego in your business, as every deal and every dollar is something you must earn. Be awesome, and let your team be awesome -- in your own separate company-related pursuits. Meeting more than once a week within your company is just a waste of everyone's time.

Not Leading By Example

Are you setting an example that you would follow? Think back to when you had bosses you directly answered to. Do you find yourself emulating some of their best traits while bringing in your own, or are you trying to rule like a petty dictator and expecting a level of respect that you don't deserve. If you're gutsy, get one of your most trusted employees drunk and ask them to do an impression of you. The truth hurts, but lying to yourself can kill your business.

Ignoring Customer Needs

The entire idea of capitalism is to give the people what they want. If you aren't listening and responding to your customers' needs, they will soon find someone else that will. Nothing contributes to killing your business as quickly as acting like your customers are an entitlement that wants precisely what you're offering. Instead, do not be afraid to dramatically alter what you offer or how you offer it if your target customers begin to show signs that you're not doing what they need or how they need it.

Not Giving Your Business Plan a Chance

When you sat down to write your business plan, you were most likely a bit more naïve and probably made some assumptions that ended up not being true. This is okay -- the startup phase of any business is going to present some surprises that you can adapt to. However, if you find yourself essentially ignoring your business plan due to the convenience of doing so, you are short-changing your previous work on the plan and acting like a crazy person. Your business plan is a guide to systems, and without systems you'll literally be making up the rules as you go along. This is inconsistent and unfair to your employees and your customers, as well as being a waste of your time.

Leaving Cash Flow Unguarded

How much cash do you need to keep your business afloat through dry cycles? How much are you reinvesting into the business? How are you following the old maxim to "pay yourself first?" 

Allowing Chance to Build the Team

Is your team composed of people you know who might work, or people you know will work? This is an important distinction, as you want the best team possible. Your job is to make them millionaires, and their job is to make you a billionaire. Do not settle for less.

Repeating the Same Mistakes

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5 Things That Are Killing Your Business

Is your business dying a slow death despite your best efforts here are 5 possible reasons why..

Running a successful business takes a seemingly endless supply of time and energy, but you may feel as though your business is slowing dying despite your best efforts. More than that, you may wonder why your business is floundering while others are thriving all around you. There are a number of things that can quickly kill a business, and by identifying these factors, you may be able to make some highly beneficial changes to give your company the extra footing it needs to be the success that you know it can be. These are some of the most common things that can kill a business.

1. Poor marketing strategy.

Your marketing strategy will impact your business expenses as well as your income. A poor marketing strategy may produce limited results while also costing you a small fortune. You may consider taking a closer look at your current efforts as well as other marketing options that are available to you. It may be time to transition to a new strategy or to test other marketing options to determine if you can more effectively reach your audience with a few changes. In addition, consider your marketing message. Even if you are using the appropriate media to reach your audience, they may be tuning out your message for some reason.

2. An undesirable business location.

If you have a brick-and-mortar business location, there is a possibility that your location is not desirable. Consider if your business is one that depends on drive-by or pedestrian foot traffic or if customers will drive specifically to your venue for your products and services. Then, consider if related businesses are located nearby and how easy it is to reach your venue. You may also think about signage and visibility from your location. As the saying goes, location is everything. This holds true in the business world, and moving to a new venue that has more attractive benefits may be advantageous for you.

3. A bad website design.

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Before a business can effectively create and implement a marketing plan, it must first determine its target market. No matter how amazing the product, good, or service may be, not everyone is a potential customer! In this assignment you will consider a new product and then define the market you would target with your marketing efforts.

• Select one of the following products, goods, or services as the basis for your written assignment:
• An energy drink that uses all natural ingredients to boost energy levels and metabolism. This drink eliminates all of the harmful side effects that competitors’ products have.
• An “intelligent” home system that monitors the residents’ movements through the house and sends information to family members, caregivers, and medical providers. For example, handrails on the stairs contain heart rate monitors.
• A wireless virtual-reality headset that allows the user to experience 3D virtual reality programs including travel and games.
• A “smart bed” that monitors each partner individually and makes adjustments on its own to keep people sleeping soundly. As sleeping positions change throughout the night, the bed self-adjusts to optimize the sleep surface and comfort level.
• A chain of luxury hotels that offer luxury on-site pet accommodations for their guests’ dogs and cats. Pets can receive massages, pedicures, chef-prepared gourmet meals, and outings to local parks, beaches, and lakes.
• For the product or service you chose, prepare a Target Market Report that includes the following information:
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• Separate the large market you identified into smaller segments. After creating these smaller subgroups, determine which ones you believe would be the most profitable or productive to target.
• Create a profile of your target segments as described in your text.
• Now that you have identified a market segment to target, is it large enough to sustain the product/service in both the long and short term? You may want to look at demographic information from your state or federal databases, such as www.census.gov .

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