Plans of Actions
Short-Term Plan At this point, Hafford needs to improve the sale and raise money pass its financial crisis successfully. To improve the sale, company needs to: 1. Send an email to all customers and explain the situation briefly with honesty 2. Offer attractive discounts and incentives to its loyal customers for lost orders and satisfy them 3. Find a certified vendor to turn on its cloud computing system again 4. Retrieve the lost orders and process them quickly 5. Make sure that new orders are coming smoothly without delay
Long-Term Plan
Organizational Structure and Culture
In general Hafford needs to move toward decentralization. For achieving that goal, Feckle needs to give more autonomy to his vice presidents. His only responsibility should be looking at the Hafford’s whole situation in the market and controlling Hafford in general. He may participate in decision making process, but when decision making is about financial side of a new plan. Making decision about the technological and scientific part of a plan must be left to Hafford’s professional and relevant teams.
Internal Control
Hafford’s internal control system must be reviewed and activated. Internal control system must be audited by external auditors routinely. Feckle and his vice presidents must take any revealed weakness in external auditors’ report serious. Hiring external auditors for auditing Hafford’s internal control will ensure management that internal control system is powerful enough to find any financial problem and track its underlying reasons including management poor performance.
Providing financial and accounting information by accounting department is Hafford’s internal auditors’ responsibility. Hafford’s internal control and audit procedures will guarantee the timely communication of financial information between Hafford’s management and its