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    The document provides advice for Mrs. Buenaarte on how to try reviving her struggling plastic products company. It recommends that she 1) sincerely examine the situation and identify what is wrong, 2) rethink her business strategy and attitude towards failure, 3) conduct a SWOT analysis to discover strengths, weaknesses, opportunities and threats, 4) invest in her team to cultivate trust and better change strategies, 5) allow herself to be free of pride and fear and admit mistakes with humility, and 6) make an asset management strategy to potentially make money from company assets to stay afloat.

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    The document provides advice for Mrs. Buenaarte on how to try reviving her struggling plastic products company. It recommends that she 1) sincerely examine the situation and identify what is wrong, 2) rethink her business strategy and attitude towards failure, 3) conduct a SWOT analysis to discover strengths, weaknesses, opportunities and threats, 4) invest in her team to cultivate trust and better change strategies, 5) allow herself to be free of pride and fear and admit mistakes with humility, and 6) make an asset management strategy to potentially make money from company assets to stay afloat.

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    2K views2 pages

    Create 4

    Uploaded by

    Princess Silence
    The document provides advice for Mrs. Buenaarte on how to try reviving her struggling plastic products company. It recommends that she 1) sincerely examine the situation and identify what is wrong, 2) rethink her business strategy and attitude towards failure, 3) conduct a SWOT analysis to discover strengths, weaknesses, opportunities and threats, 4) invest in her team to cultivate trust and better change strategies, 5) allow herself to be free of pride and fear and admit mistakes with humility, and 6) make an asset management strategy to potentially make money from company assets to stay afloat.

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    CASE: JOVINA BUENAARTE PLASTIC PRODUCTS: LET ME TRY AGAIN

    What Mrs. Buenaarte should do next?

    1. Examine the Situation Sincerely. Stop when you see your company is in serious peril.
    You need to take a step back and review and examine what is wrong with your
    organization. You can't take action unless you know where to begin.
    2. Rethink your strategy. Your attitude toward failure is crucial to your success. You've
    probably discovered where you went wrong after re-evaluating your firm and are ready to
    redefine and rethink your approach.
    3. Conduct a SWOT analysis. SWOT analysis is a strategic activity that helps you
    discover the strengths, weaknesses, opportunities, and threats that your small firm faces.
    It's a useful exercise for analyzing your current performance, identifying things that aren't
    working, and identifying places where you may improve.
    4. Make an investment in your team. The most successful businesses are those that are
    run with heart. Your people—your employees—are your most valuable assets. When
    your firm appears to be failing, re-evaluate not only your plan, but also those who are
    responsible for putting it into action.
    A caring culture cultivates a culture of trust, which is conducive to success. Employees
    will be more willing to share their thoughts if they believe you care about their
    experiences, resulting in better change strategies.
    5. Allow yourself to be free of pride and fear. Rather than playing the blame game, which
    will get you nowhere, effective CEOs and business leaders understand that admitting
    their mistakes and displaying genuine humility will help their company rebuild and re-
    boost.
    6. Make a strategy for managing your assets. Your company's assets may be your only
    solace if your firm falls today. Assets are supposed to make money for your company,
    and that shouldn't change just because you're in a bad situation. The money you could
    make by trading these assets could be just what you need to stay afloat.
    Sources:

    https://www.nav.com/blog/revive-a-dying-business-14194/

    https://www.entrepreneur.com/article/289513

    https://keap.com/resources/how-to-save-struggling-small-business

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